Wealthsimple Review 2022: Wealthsimple Insurance

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, stock and crypto trading platform that differentiates itself from similar apps by charging absolutely no fees. 

A online financial services business founded in the Autumn 2014 originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has improved substantially over the previous 8 years to also feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Fees?

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

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

Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large initial deposit amounts of $1,000-$5000. This makes it impossible for the every day new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

Yes. Wealthsimple Trade has available CRA registered and non-registered account types. One can choose both RRSP and TFSA accounts during the setup process. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a well designed mobile app offered on both iOS and Google Play. The mobile app makes the registration steps and also trading of stocks and ETFs incredibly painless.

So Is Wealthsimple Trade Secure?

. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management . they’ve been in business for more than 7 years and also at this time employs more than 600 Canadians. The main owner is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage to operate in Canada.

So How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly easy to add money to a new account. Simply connect a chequing or savings account with your Trade account, and add money to your account in simply a couple of steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can also be withdrawn your chequing or savings account with the same method.

Which Other Benefits and Products Does Wealthsimple Offer?

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

Wealthsimple Tax – Everything you require to get ready for tax year and file your tax return online for free. It’s described as easy, accurate and always free tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to earn 1% cashback on your spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a bunch of different online courses on topics like saving, investing, crypto, real estate and more. 

All of the listed features, including Wealthsimple Trade may be accessed in the app and from their site with one login.

How Should I Begin With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. As an exclusive signup bonus for our audience you’ll get the equivalent cash value of a random share worth up to $4,500 CAD once you deposit to your account.

But What if I Still Have Questions Concerning Wealthsimple Insurance?

If this blog post didn’t given you the answers to each of your questions, and you’re searching for more specific facts about Wealthsimple Insurance, go to the Wealthsimple site to find answers to each your questions.