Wealthsimple Review 2022: Wealthsimple Betterment

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, securities and crypto trading app that sets itself apart from the competition by charging absolutely no fees. 

A fintech business founded in Fall of twenty fourteen originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has changed considerably over the past eight years to also include Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows consumers trade both single stocks and ETFs without paying any commissions. The exception to this is when you’re trading ETFs and stocks that are denominated in USD. In which case, they do charge a nominal currency conversion fee when buying and selling. But, behind us are the times of paying Upwards of $7 per trade with discount brokerages as was normal a few years past.

How Much in Funds Will I Need to Have to Begin Investing on Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large initial deposit amounts of $1,000-$5000. This makes it tough for the normal investor to start. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

They do. Wealthsimple Trade has CRA registered and non-registered accounts. You are able to select both RRSP and TFSA account types during the setup phase. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app that is available to download on IOS and Android. The mobile app makes the signup steps and the trading of stocks and ETFs truly a breeze.

So Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). This company has been in business for more than 7 years and also right now employs more than 600 people. The majority owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.

So How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to fund your new account. Simply connect to a chequing or savings account with your Trade account, and fund your account in simply a couple of steps. Deposits from banks to Wealthsimple typically take a couple of days. Funds can the same way can be moved to a chequing or savings account by the same process.

What Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to e-Transfers which allow one to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax year and file your tax return online free. It’s described to be easy, accurate and always free tax return filing.

Wealthsimple Spend – A combination pre paid visa and savings account which lets you to get 1% cashback on your purchases, and also earn a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a ton of online courses on different topics such as saving, investing, crypto, home buying and more. 

Each of the listed products, along with Wealthsimple Trade may be found on the mobile app and on their site with a single login.

So How Should I Start With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you will get the equivalent cash value of a share worth $25 up to $4,500 CAD when you make an initial deposit to your account.

But What if I Still Have Additional Questions Concerning Wealthsimple Betterment?

If this blog post hasn’t answered all of your questions, and you’re looking for further specific facts relating to Wealthsimple Betterment, go to the Wealthsimple website for answers to each your questions.