Wealthsimple Review 2022: Wealthsimple Income Tax Calculator

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, securities plus crypto trading web app that differentiates itself from its competitors by charging no fees. 

A leading Canadian fintech company launched in Fall of twenty fourteen exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has improved substantially over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian investors trade both single stocks and also ETFs without paying commissions. The exception to this is when you’re trading stocks which are displayed in USD. In that case, they do charge a small 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 normal just a few years past.

Exactly How Much in Funds Will I Need to Have in Order to Begin Investing on Wealthsimple Trade?

Wealthsimple is cool such that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have sizeable minimum deposit amounts of $1,000-5k. This makes it hard for the normal new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

Yes. Wealthsimple Trade offers registered and non-registered accounts. You can choose between both RRSP and TFSA accounts during the setup process. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app that is available to download on both iOS and Google Play. The mobile app makes the signup process and the trading of stocks and ETFs super painless.

So Is Wealthsimple Trade Legit?

Of course. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). they’ve been doing business for more than 7 years and at this time employs more than 600 Canadians. The main shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.

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

The Wealthsimple Trade mobile app makes it quite easy to deposit to your account. Just connect the app to a chequing or savings account with your Trade account, then add funds to your account in only a few clicks. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can also be withdrawn a chequing or savings accounts by using the exact same process.

Which Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to Interac E-transfers that allow one to quickly and simply transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your tax return online free. It’s pitched to be easy, accurate and always free income tax filing.

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

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

All of the mentioned products, along with Wealthsimple Trade may be accessed on the mobile app or from the website with one login.

How Should I Begin Using Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. For a special signup bonus offer to our readers you’ll receive the equivalent cash value of a random stock worth up to $4,500 CAD when you make an initial deposit to your account.

But What if I Still Have Additional Questions About Wealthsimple Income Tax Calculator?

If this article didn’t answered all of your questions, and you’re searching for more specific information relating to Wealthsimple Income Tax Calculator, visit the Wealthsimple website to get answers to each your questions.