Wealthsimple Review 2022: Wealthsimple Koinly

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading web app that sets itself apart from similar apps by charging no fees. 

A online financial services company founded in Fall of twenty fourteen originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has changed considerably over the past 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows consumers trade both individual stocks and also ETFs without having to pay any fees. The exception to this is when you’re trading securities which are displayed in US Dollars. In which case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the times of having to pay Upwards of $7 per each trade with online discount brokerages as was expected a couple years ago.

Exactly How Much Money Will I Need to Have to Start With Wealthsimple Trade?

Wealthsimple is cool such that they will allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and brokerages have quite large min deposit amounts of 1k-$5000. This makes it tough for the common new investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade has available both registered and non-registered accounts. You are able to select both RRSP and TFSA accounts in the setup process. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app offered to download on Apple and Android. The app makes the enrollment steps and the trading of stocks and ETFs truly easy.

But Is Wealthsimple Trade Secure?

For sure. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . This company has been operating for more than 7 years and right now employs more than 600 folks. The main owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.

How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly easy to add money to your account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple normally take only a few days. Funds can just as easily be moved back to a chequing or savings accounts by using the same process.

What Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to Interac e-Transfers that allow one to quickly and easily send cash to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings product which allows you to earn 1% cashback on all your purchases, and also get a very competitive 1.5% interest on savings.

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

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

So How Can I Get Started With Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As an exclusive signup bonus to our audience you will get the cash value of a random share worth up to $4,500 Canadian when you add funds to your account.

What if I Still Have Questions Related to Wealthsimple Koinly?

If this review still hasn’t given you the answers to all of your questions, and you’re searching for additional information about Wealthsimple Koinly, check out the Wealthsimple website to find answers to every one of your questions.