Wealthsimple Review 2022: Wealthsimple Brokerage

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, securities and crypto trading platform that distinguishes itself from the competition by charging absolutely no fees. 

A online financial services company founded in Fall twenty fourteen originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed significantly over the past 8 years to include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets investors trade individual stocks and also ETFs without needing to pay any fees. The exception to this is when trading securities that are denominated in USD. In this case, they charge a currency conversion fee when buying and selling. However, behind us are the times of having to pay more than $7 for each trade with digital discount brokerages as was common a few years past.

Exactly How Much in Funds Will I Need to Get Started With Wealthsimple Trade?

Wealthsimple is special in that they will allow new customers to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable min deposit amounts of $1,000-5k. This makes it impossible for the normal new investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

Yes. Wealthsimple Trade has both registered and non-CRA-registered accounts. One can select both RRSP and TFSA account types in the setup wizard. 

But Does Wealthsimple Trade Have 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 trading of stocks and ETFs simple.

But Is Wealthsimple Trade Safe?

. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). These folks have been doing business for more than 7 years and also employs roughly 600 Canadians. The primary owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.

But How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so easy to deposit to an account. Simply connect a chequing or savings account with your Trade account, and fund your account in only a few steps. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can just as easily be moved back to your chequing or savings accounts through the exact same method.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to Interac e-Transfers that allow one to quickly and easily transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for tax year and file your tax return online free. It’s described as simple, accurate and always free tax filing.

Wealthsimple Spend – A combination prepaid visa and savings product which allows one to recieve 1% cashback on your purchases, as well as earn a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a variety of courses on saving, investments, crypto, home buying and more. 

All of the mentioned products, including Wealthsimple Trade may be found within the mobile app and at their site with a single login.

How Can I Get Started Using Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. For a special registration bonus for our audience you will get the equivalent cash value of a stock worth up to $4,500 Canadian as soon as you make an initial deposit to your account.

So What if I Still Have Questions Concerning Wealthsimple Brokerage?

If this review hasn’t answered each of your questions, and you’re browsing for additional specific information relating to Wealthsimple Brokerage, visit the Wealthsimple website to find answers to every one of your questions.