Wealthsimple Review 2022: Wealthsimple How To Use

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees. 

A leading Canadian online financial services company founded in Autumn twenty fourteen exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has changed significantly over the past eight years to include Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets consumers to trade single stocks and ETFs without paying commissions. The exception is when trading securities which are listed in USD currency. In this case, they will charge a small currency conversion fee both when buying and selling. But, past us are the times of paying more than $7 per each trade with discount brokerages as was the case a few years past.

How Much Cash Will I Need to Begin Investing on Wealthsimple Trade?

Wealthsimple is special such that they will allow new customers to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large min deposit amounts of $1,000-$5000. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade has both registered and non-CRA-registered account types. One can choose between both RRSP and TFSA account types during the setup process. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app available on IOS and Android. The smartphone app makes the signup process and also the trading of stocks and ETFs incredibly a breeze.

Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion CAD in Assets Under Management (AUM). This company has been expanding for more than 7 years and also now employs roughly 600 folks. The controlling shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.

How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite easy to add money to your new account. Simply connect to a chequing or savings account with your Trade account, and add funds to your account in only a couple of steps. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts with the same steps.

Which Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to e-transfers which allows anyone to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax year and submit your tax return online free. It’s pitched as simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings account which lets one to recieve 1% cashback on your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a ton of different courses on saving, investments, crypto, mortgages and much more. 

Every one of the listed products, including Wealthsimple Trade can be found inside the mobile app and at their website with your Wealthsimple login.

But How do I Start With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For an exclusive registration bonus for our audience you’ll get the equivalent cash value of a random Canadian stock worth up to $4,500 Canadian as soon as you deposit to your account.

What if I Still Have Questions Concerning Wealthsimple How To Use?

If this review hasn’t answered all of your questions, and you’re looking for additional facts about Wealthsimple How To Use, go to the Wealthsimple website for answers to each your questions.