Wealthsimple Review 2022: Wealthsimple Cash

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, securities plus crypto trading platform that differentiates itself from the competition by charging no fees. 

A leading Canadian online financial services company founded in the Fall of twenty fourteen exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has changed significantly over the previous 8 years to include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

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

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

Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large min deposit amounts of 1k-5K. This makes it tough for the every day new investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade has available registered and non-CRA-registered accounts. One are able to choose both RRSP and TFSA account types in the setup phase. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a well designed mobile app available to download on iOS and Android. The app makes the signup process and the trading of stocks and ETFs incredibly a breeze.

So Is Wealthsimple Trade Legit?

. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD of Assets Under Management . They have been expanding for more than 7 years and also now employs roughly 600 people. The controlling owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.

So How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it simple to fund your account. Simply connect a chequing or savings account to your Trade account, and then fund your account in just a few steps. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can also be moved to your chequing or savings accounts using the same process.

What Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to e-transfers that allows you to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for tax year and submit your tax return online for free. It’s described as easy, accurate and always free tax return filing.

Wealthsimple Spend – A hybrid prepaid visa and savings product which allows one to earn 1% cashback on all your purchases, and also get a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of different online courses on different topics such as saving, investments, crypto, home buying and much more. 

Each of the above features, along with Wealthsimple Trade can be accessed on the app or from the site with a single login.

How Can I Begin Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For an exclusive registration bonus for our readers you will receive the cash value of a stock valued at $25 up to $4,500 Canadian when you add funds to your account.

What if I Still Have Additional Questions Concerning Wealthsimple Cash?

If this review hasn’t given you the answers to each of your questions, and you’re still looking for additional specific answers about Wealthsimple Cash, go to the Wealthsimple site for answers to each your questions.