Wealthsimple Review 2022: Wealthsimple Generation

What is Wealthsimple?

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

A online financial services business founded in the Fall twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has improved substantially over the past eight years to also include Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows consumers trade both stand alone stocks and also ETFs without paying any commissions. The exception to this is when you’re trading securities that are listed in US Dollars. In this case, they charge a small currency conversion fee both when buying and selling. However, gone are the times of having to pay $7-12 per trade with discount brokerages as was normal just a few years ago.

Exactly How Much in Funds Will I Need to Have in Order to Get Started With Wealthsimple Trade?

Wealthsimple is unique such that they allow Canadians to make a minimum deposit of only $1. Many traditional banks and discount brokerages have sizeable min deposit amounts of $1000-5k. This makes it tough for the common new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

They do. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. You are free to select both RRSP and TFSA accounts during the setup process. 

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a convenient mobile app available on both IOS and Android. The app makes the registration steps and the trading of stocks and ETFs truly easy.

But Is Wealthsimple Trade Secure?

Most definitely. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management . They have been in business for more than 7 years and also currently employs over 600 people. The main owner is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.

How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite straight forward to fund a new account. Just connect the app to a chequing or savings account with your Trade account, and then add money to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can just as easily be withdrawn a chequing or savings accounts through the exact same steps.

What Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to Interac E-Transfers which allows one to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your taxes online free. It’s described as easy, accurate and always free tax filing.

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

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of different courses on saving, investing, crypto, home buying and much more. 

All of the above products, along with Wealthsimple Trade can be accessed on the app or at the website with your Wealthsimple login.

So How Can I Get Started With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus to our readers you will get the cash value of a random stock worth $25 up to $4,500 Canadian once you add funds to your account.

So What if I Still Have Additional Questions Concerning Wealthsimple Generation?

If this review still hasn’t answered all of your questions, and you’re browsing for more info relating to Wealthsimple Generation, go to the Wealthsimple site for answers to every one of your questions.