Wealthsimple Review 2022: Wealthsimple Layoffs

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stock and crypto trading app that differentiates itself from other apps by charging no fees. 

A fintech business founded in Autumn twenty fourteen originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has changed significantly over the past 8 years to also feature Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets Canadian consumers trade stand alone stocks and also ETFs without paying any fees. The exception to this is when you’re trading securities which are displayed in USD. In which case, they charge a small currency conversion fee when buying and selling. However, past us are the times of paying more than $7 per each trade with discount brokerages as was common a couple years ago.

How Much in Funds Will I Need to Have to Start Investing on Wealthsimple Trade?

Wealthsimple is special in that they allow Canadians to make a minimum deposit of just $1. Many traditional banks and brokerages have quite large initial deposit amounts of 1k-5k. This makes it difficult for the common investor to start. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has registered and non-CRA-registered account types. You are able to select both RRSP and TFSA account types in the setup wizard. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app that is offered on iOS and Google Play. The mobile app makes the enrollment process and also the trading of stocks and ETFs very easy.

But Is Wealthsimple Trade Secure?

Most definitely. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion CAD in Assets Under Management (AUM). they’ve been expanding for more than 7 years and also at this time employs more than 600 Canadians. The controlling owner is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.

But How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so easy to add funds to your account. Simply connect a chequing or savings account to your Trade account, and add money to your account in simply a few clicks. Deposits from banks to Wealthsimple typically take a few days. Funds can just as easily be withdrawn your chequing or savings accounts by using the exact same method.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to e-transfers that allow you to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for tax year and file your taxes online for free. It’s pitched to be simple, accurate and always free tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings product which allows you to get 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a ton of different online courses on saving, investing, crypto, mortgages and more. 

All of the listed features, along with Wealthsimple Trade can be accessed in the app and on their site with your Wealthsimple login.

But How Can I Begin With Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. As a special registration bonus for our audience you’ll receive the cash value of a random share valued at $25 up to $4,500 Canadian as soon as you fund your account.

What if I Still Have Additional Questions Concerning Wealthsimple Layoffs?

If this review didn’t answered each of your questions, and you’re still looking for further specific facts relating to Wealthsimple Layoffs, visit the Wealthsimple website to get answers to all your questions.