Wealthsimple Review 2022: Wealthsimple Mer

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital Financial, stock plus crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees. 

A fintech company founded in the Fall twenty fourteen originally as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has changed considerably over the past eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian investors to trade both single stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading ETFs and stocks which are displayed in US Dollars. In that case, they do charge a currency conversion fee when buying and selling. However, past us are the times of having to pay more than $7 per each trade with discount brokerages as was normal only a couple years past.

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

Wealthsimple is special such that they allow new customers to make a minimum deposit of only $1. Many traditional banks and discount brokerages have sizeable minimum deposit amounts of $1000-$5000. This makes it difficult for the typical investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has available registered and non-registered account types. You are free to choose both RRSP and TFSA account types in the setup phase. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on both iOS and Google Play. The mobile app makes the enrollment phase and the trading of stocks and ETFs incredibly simple.

So Is Wealthsimple Trade Legit?

Definitely. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and right now employs roughly 600 people. The primary shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.

How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite easy to add money to your new account. Just connect to a chequing or savings account with your Trade account, then add funds to your account in only a few steps. Deposits from your bank to Wealthsimple typically take a few days. Funds can the same way can be withdrawn your chequing or savings account using the exact same process.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to Interac E-transfers that allow you to quickly and simply transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings account that allows you to get 1% cashback on your everyday purchases, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a bunch of different online courses on different topics such as saving, investing, crypto, home buying and much more. 

All of the mentioned products, including Wealthsimple Trade may be accessed in the app or on the site with a single login.

But How Can I Get Started With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As a special signup bonus for our audience you’ll receive the cash value of a random share worth up to $4,500 CAD once you fund your account.

What if I Still Have Additional Questions About Wealthsimple Mer?

If this article hasn’t given you the answers to all of your questions, and you’re still looking for further specific answers relating to Wealthsimple Mer, go to the Wealthsimple website for answers to every one of your questions.