Wealthsimple Review 2022: Wealthsimple Down

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, securities plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees. 

A fintech company founded in the Autumn twenty fourteen exclusively as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has improved significantly over the previous 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets investors to trade both stand alone stocks and also ETFs without paying any fees. The exception is when you’re trading stocks that are listed in USD. In that case, they do charge a small currency conversion fee both when buying and selling. But, past us are the times of having to pay $7-12 per trade with discount brokerages as was common a couple years ago.

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

Wealthsimple is special such that they allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large minimum deposit amounts of $1,000-$5,000. This makes it impossible for the common new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade offers registered and non-registered accounts. You may choose both RRSP and TFSA account types in the setup process. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app that is available to download on both Apple and also Google Play. The app makes the registration phase and the trading of stocks and ETFs incredibly simple.

Is Wealthsimple Trade Trustworthy?

Most definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD in Assets Under Management . They have been in business for more than 7 years and now employs roughly 600 folks. The controlling shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.

So How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite easy to deposit to your new account. Simply connect the app to a chequing or savings account to your Trade account, and then add money to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple normally take just a few days. Funds can just as easily be moved to a chequing or savings account using the same steps.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to e-Transfers that allow anyone to quickly and efficiently send cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid visa and savings account which lets one to earn 1% cashback on your everyday spending, and also get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a variety of different courses on different topics such as saving, investing, crypto, mortgages and much more. 

All of the mentioned products, along with Wealthsimple Trade may be found within the app or on their site with a single login.

So How Can I Start Using Wealthsimple Trade?

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

What if I Still Have Additional Questions Concerning Wealthsimple Down?

If this article hasn’t given you the answers to each of your questions, and you’re still searching for more specific facts relating to Wealthsimple Down, check out the Wealthsimple site to find answers to all your questions.