Wealthsimple Review 2022: Wealthsimple Hours

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, stock and crypto trading app that differentiates itself from similar apps by charging absolutely no fees. 

A online financial services business founded in the Autumn of 2014 exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has improved considerably over the last 8 years to also include Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows consumers to trade single stocks and ETFs without needing to pay any fees. The exception to this is when trading stocks and ETFs that are listed in USD currency. In which case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the days of having to pay Upwards of $7 per each trade with online discount brokerages as was expected a couple years ago.

How Much in Funds do I Need to Have to Start With Wealthsimple Trade?

Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Many alternative banks and brokerages have large minimum deposit amounts of $1,000-5K. This makes it hard for the common investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

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

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is available on both iOS and Android. The app makes the enrollment steps and also the trading of stocks and ETFs truly a breeze.

So Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management (AUM). They have been operating for more than 7 years and currently employs about 600 people. The main shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.

But How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it simple to add money to your new account. Simply connect a chequing or savings account to your Trade account, and then add funds to your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can also be withdrawn a chequing or savings accounts with the same process.

What Other Benefits and Products Are Available?

Wealthsimple Cash – This is alternative to e-transfers that allow one to quickly and easily send money to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for tax season and submit your tax return online for free. It’s advertised as simple, accurate and always totally free tax return filing.

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

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a bunch of courses on topics like saving, investments, crypto, real estate and much more. 

Every one of the listed products, including Wealthsimple Trade may be found within the app or at their website with a single login.

But How Should I Start Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For a special registration bonus to our audience you’ll get the cash value of a random stock valued at $25 up to $4,500 CAD once you deposit to your account.

What if I Still Have Additional Questions About Wealthsimple Hours?

If this review didn’t given you the answers to all of your questions, and you’re looking for more information relating to Wealthsimple Hours, go to the Wealthsimple site to get answers to every one of your questions.