Wealthsimple Review 2022: Wealthsimple Katchen

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees. 

A Toronto, Ontario based fintech company founded in the Fall twenty fourteen exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has changed substantially over the past eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets consumers to trade both stand alone stocks and also ETFs without needing to pay fees. The exception is when trading ETFs and stocks which are listed in USD. In this case, they charge a nominal currency conversion fee when buying and selling. However, behind us are the days of paying $7-12 per each trade with online discount brokerages as was the norm a couple years ago.

How Much in Funds Will I Need in Order to Start With Wealthsimple Trade?

Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable minimum deposit amounts of 1K-5k. This makes it tough for the everyday new investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

Yes. Wealthsimple Trade offers both registered and non-registered account types. One can select between both RRSP and TFSA account types during the setup phase. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app that is available to download on Apple and Google Play. The smartphone app makes the signup steps and trading of stocks and ETFs painless.

Is Wealthsimple Trade Secure?

. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . These folks have been operating for more than 7 years and right now employs over 600 folks. The majority owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.

How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very simple to deposit to a new account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in only a couple of steps. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can also be moved to your chequing or savings account using the same method.

Which Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to Interac E-Transfers that allows anyone to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for tax season and file your taxes online free. It’s advertised as easy, 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 everyday spending, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of different courses on different topics such as saving, investing, crypto, real estate and much more. 

Each of the above products, including Wealthsimple Trade can be accessed in the mobile app and from the website with your Wealthsimple login.

But How do I Begin Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For a special signup bonus offer to our readers you will receive the equivalent cash value of a random share valued at up to $4,500 CAD as soon as you add funds to your account.

What if I Still Have Additional Questions Related to Wealthsimple Katchen?

If this review didn’t given you the answers to each of your questions, and you’re still browsing for further specific answers about Wealthsimple Katchen, check out the Wealthsimple website for answers to all your questions.