Wealthsimple Review 2022: Wealthsimple Foundation

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, stock plus crypto trading web app that differentiates itself from similar apps by charging no fees. 

A online financial services business launched in Fall twenty fourteen originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has evolved significantly over the past eight years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets Canadian investors to trade individual stocks and ETFs without having to pay fees. The exception to this is when trading stocks and ETFs that are listed in USD. In that case, they do charge a currency conversion fee when buying and selling. However, past us are the days of paying $7-12 for each trade with online discount brokerages as was the norm only a few years ago.

Exactly How Much Cash do I Need to Begin Investing With Wealthsimple Trade?

Wealthsimple is cool such that they allow investors to make a minimum deposit of just $1. Most traditional banks and brokerages have sizeable initial deposit amounts of $1,000-5k. This makes it difficult for the typical investor to start. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Have TFSA Accounts?

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

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app offered to download on both iOS and Google Play. The smartphone app makes the enrollment steps and also trading of stocks and ETFs truly painless.

Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . They have been expanding for more than 7 years and also at this time employs more than 600 Canadians. The majority owner is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital 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 a new account. Just connect to a chequing or savings account to your Trade account, and then fund 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 withdrawn your chequing or savings accounts through the same process.

What Additional Benefits and Products Are Available?

Wealthsimple Cash – An alternative to E-Transfers which allows you to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for tax season and submit your tax return online free. It’s described to be simple, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination prepaid debit card and savings product that allows you to earn 1% cashback on all your everyday purchases, as well as earn a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a bunch of courses on different topics such as saving, investments, crypto, mortgages and more. 

Every one of the above features, along with Wealthsimple Trade may be found on the mobile app or at their site with your Wealthsimple login.

How Can I Begin With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus to our audience you’ll receive the cash value of a stock worth $25 up to $4,500 CAD when you make an initial deposit to your account.

What if I Still Have Additional Questions Related to Wealthsimple Foundation?

If this blog post didn’t given you the answers to each of your questions, and you’re looking for additional answers about Wealthsimple Foundation, go to the Wealthsimple site to get answers to all your questions.