Wealthsimple Review 2022: Wealthsimple Mortgage

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian web based Financial, securities plus crypto trading app that differentiates itself from the competition by charging no fees. 

A Toronto, Ontario based fintech company launched in Fall twenty fourteen exclusively as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has improved significantly over the last eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian investors trade both stand alone stocks and also ETFs without paying any commissions. The exception to this is when you’re trading stocks and ETFs which are displayed in USD. In that case, they do charge a small currency conversion fee both when buying and selling. However, gone are the times of paying more than $7 per each trade with digital discount brokerages as was the case only a few years ago.

Exactly How Much Cash Will I Need to Begin Investing on Wealthsimple Trade?

Wealthsimple is awesome such that they allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large min deposit amounts of 1K-5K. This makes it hard for the normal investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Have Registered Accounts?

Of course. Wealthsimple Trade has available both registered and non-CRA-registered account types. You may choose both RRSP and TFSA accounts during the setup process. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app offered on both IOS and Google Play. The smartphone app makes the enrollment steps and also the trading of stocks and ETFs easy.

Is Wealthsimple Trade Secure?

Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). This company has been doing business for more than 7 years and at this time employs about 600 Canadians. The majority shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.

How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very simple to deposit to your new account. Just connect to a chequing or savings account with your Trade account, and then add money to your account in just a few steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can just as easily be moved back to your chequing or savings accounts by the same process.

Which Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to Interac E-transfers that allow anyone to quickly and easily transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax year and submit your taxes online for free. It’s pitched to be easy, accurate and always free tax return filing.

Wealthsimple Spend – A combination prepaid visa and savings product that allows you to earn 1% cashback on your purchases, and also earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of different online courses on different topics such as saving, investments, crypto, real estate and more. 

Each of the listed products, including Wealthsimple Trade may be found within the app or at their site with one login.

But How do I Begin With Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. As an exclusive registration bonus for our audience you’ll receive the cash value of a Canadian stock valued at up to $4,500 Canadian when you fund your account.

But What if I Still Have Additional Questions Concerning Wealthsimple Mortgage?

If this review hasn’t given you the answers to each of your questions, and you’re looking for further specific info about Wealthsimple Mortgage, go to the Wealthsimple site to get answers to every one of your questions.