Wealthsimple Review 2022: Wealthsimple Growth Portfolio

What is Wealthsimple?

Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading web app that distinguishes itself from similar apps by charging absolutely no fees. 

A Toronto, Ontario based fintech business founded in Autumn twenty fourteen originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has evolved substantially over the past 8 years to include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian consumers to trade single stocks and ETFs without having to pay any fees. The exception to this is when you’re trading ETFs and stocks that are listed in USD. In that case, they do charge a small currency conversion fee both when buying and selling. However, past us are the days of paying $7-12 for each trade with online discount brokerages as was common a couple years past.

How Much Cash Will I Need in Order to Start on Wealthsimple Trade?

Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and discount brokerages have quite large initial deposit amounts of 1K-$5,000. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade has available CRA registered and non-registered account types. One can choose between both RRSP and TFSA accounts in the setup phase. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on iOS and Android. The app makes the registration process and also the trading of stocks and ETFs super a breeze.

So Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). they’ve been doing business for more than 7 years and also now employs more than 600 people. The majority owner is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.

But How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so simple to deposit to an account. Just connect a chequing or savings account to your Trade account, then add money to your account in just a few clicks. Deposits from your bank to Wealthsimple typically take just a couple of days. Funds can just as easily be moved back to a chequing or savings accounts using the same steps.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to Interac E-transfers which allows you to quickly and simply transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid prepaid debit card and savings account which lets one to get 1% cashback on all your spending, as well as get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of different online courses on topics like saving, investments, crypto, home buying and more. 

Every one of the listed features, including Wealthsimple Trade can be found within the app or from the website with a single login.

So How do I Begin Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As a special registration bonus to our readers you will get the equivalent cash value of a random share worth up to $4,500 CAD when you deposit to your account.

But What if I Still Have Questions Concerning Wealthsimple Growth Portfolio?

If this blog post still hasn’t answered all of your questions, and you’re searching for further information about Wealthsimple Growth Portfolio, check out the Wealthsimple site to get answers to every one of your questions.