Wealthsimple Review 2022: Wealthsimple Digital Assets Inc

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, securities and crypto trading app that sets itself apart from other apps by charging no fees. 

A leading Canadian fintech company founded in the Fall 2014 originally as a robo-advisor trading platform called Wealthsimple Invest, it has evolved significantly over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets consumers trade both individual stocks and ETFs without having to pay any fees. The exception to this is when trading ETFs and stocks which are denominated in US Dollars. In this case, they charge a small currency conversion fee both when buying and selling. But, behind us are the times of having to pay Upwards of $7 per each trade with digital discount brokerages as was the norm a couple years past.

Exactly How Much Cash do I Need in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is unique in that they will allow new customers to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of 1K-5K. This makes it impossible for the everyday investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

They do. Wealthsimple Trade has CRA registered and non-registered accounts. One are free to select between both RRSP and TFSA accounts in the setup phase. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app that is available on both iOS and also Google Play. The mobile app makes the enrollment phase and the trading of stocks and ETFs incredibly a breeze.

So Is Wealthsimple Trade Secure?

Definitely. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management (AUM). they’ve been in business for more than 7 years and currently employs roughly 600 folks. The main owner is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.

How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly easy to fund an account. Just connect a chequing or savings account with your Trade account, and fund your account in only a few clicks. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can the same way can be withdrawn your chequing or savings account by using the same process.

Which Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to e-Transfers that allows one to quickly and simply transfer money to friends and family in Canada.

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

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

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of courses on different topics such as saving, investing, crypto, real estate and much more. 

All of the listed features, including Wealthsimple Trade can be found within the mobile app and at their website with one login.

So How Should I Begin Using Wealthsimple Trade?

Click here to setup a new Wealthsimple Trade account. As a special signup bonus for our audience you will receive the equivalent cash value of a random Canadian stock worth $25 up to $4,500 Canadian once you deposit to your account.

So What if I Still Have Additional Questions About Wealthsimple Digital Assets Inc?

If this review hasn’t given you the answers to all of your questions, and you’re looking for additional specific information relating to Wealthsimple Digital Assets Inc, visit the Wealthsimple site for answers to every one of your questions.