Wealthsimple Review 2022: Wealthsimple Gic

What is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, securities and crypto trading app that sets itself apart from the competition by charging absolutely no fees. 

A Toronto, Ontario based fintech company founded in Autumn 2014 exclusively as a robo advisor trading platform called Wealthsimple Invest, it has improved significantly over the previous eight years to also include Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets investors to trade individual stocks and also ETFs without having to pay any fees. The exception to this is when trading securities which are displayed in USD currency. In that case, they will charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 for each trade with discount brokerages as was common just a few years ago.

How Much Money do I Need in Order to Begin Investing on Wealthsimple Trade?

Wealthsimple is unique such that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and brokerages have sizeable min deposit amounts of 1K-5K. This makes it impossible for the every day new investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Have TFSA Accounts?

Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. You are able to select between both RRSP and TFSA accounts during the setup phase. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on both iOS and also Google Play. The app makes the enrollment process and also the trading of stocks and ETFs easy.

But Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian in Assets Under Management . These folks have been in business for more than 7 years and also right now employs roughly 600 folks. The primary shareholder is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.

So How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it easy to add money to an account. Just connect to a chequing or savings account with your Trade account, then add funds to your account in only a few steps. Deposits from your bank to Wealthsimple usually take just a few days. Funds can just as easily be withdrawn your chequing or savings accounts using the exact same steps.

What Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to E-Transfers that allows one to quickly and easily transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid visa and savings product that lets you to get 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a variety of online courses on topics like saving, investing, crypto, mortgages and more. 

Each of the mentioned products, including Wealthsimple Trade may be found in the app or at the website with a single login.

So How Can I Begin With Wealthsimple Trade?

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

So What if I Still Have Additional Questions Related to Wealthsimple Gic?

If this blog post didn’t given you the answers to all of your questions, and you’re browsing for additional specific answers about Wealthsimple Gic, check out the Wealthsimple website to get answers to every one of your questions.