Wealthsimple Review 2022: Wealthsimple Desktop

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, stock plus crypto trading platform that differentiates itself from similar apps by charging no fees. 

A leading Canadian fintech company launched in the Autumn of 2014 originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has grown substantially over the last 8 years to include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows investors to trade individual stocks and ETFs without having to pay fees. The exception is when you’re trading stocks which are listed in USD currency. In that case, they charge a small currency conversion fee both when buying and selling. However, gone are the times of paying $7-12 for each trade with online discount brokerages as was the norm just a couple years past.

Exactly How Much Money do I Need in Order to Get Started on Wealthsimple Trade?

Wealthsimple is cool such that they will allow investors to make a minimum deposit of just $1. Most traditional banks and brokerages have quite large min deposit amounts of $1000-$5,000. This makes it impossible for the every day investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

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

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is offered to download on both IOS and also Android. The app makes the signup steps and also trading of stocks and ETFs very easy.

Is Wealthsimple Trade Secure?

Of course. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . they’ve been expanding for more than 7 years and also now employs over 600 Canadians. The primary shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.

But How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite easy to fund an account. Just connect to a chequing or savings account with your Trade account, and add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can just as easily be withdrawn your chequing or savings accounts with the same method.

What Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to Interac E-Transfers that allows you to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax season and submit your tax return online free. It’s advertised to be easy, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings account which allows one to get 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of different courses on topics like saving, investing, crypto, real estate and much more. 

Each of the mentioned features, along with Wealthsimple Trade can be found in the mobile app or from their site with a single login.

But How do I Start With Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As a special signup bonus offer for our readers you will receive the cash value of a stock worth up to $4,500 CAD when you make an initial deposit to your account.

So What if I Still Have Questions Related to Wealthsimple Desktop?

If this article hasn’t given you the answers to all of your questions, and you’re still searching for additional specific facts relating to Wealthsimple Desktop, go to the Wealthsimple site to find answers to every one of your questions.