Wealthsimple Review 2022: Wealthsimple Office

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading platform that distinguishes itself from its competitors by charging no fees. 

A leading Canadian fintech business launched in the Autumn of 2014 originally as a robo advisor automated trading platform called Wealthsimple Invest, it has improved considerably over the past 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian investors trade stand alone stocks and also ETFs without needing to pay commissions. The exception to this is when trading securities that are denominated in USD currency. In this case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the times of paying Upwards of $7 per each trade with digital discount brokerages as was normal only a couple years ago.

Exactly How Much in Funds do I Need to Have to Start on Wealthsimple Trade?

Wealthsimple is awesome in that they will allow investors to make a minimum deposit of just $1. Many traditional banks and brokerages have large initial deposit amounts of 1K-5k. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade offers both CRA registered and non-registered account types. One are able to choose between both RRSP and TFSA accounts in the setup process. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app that is offered to download on IOS and Android. The mobile app makes the signup phase and also trading of stocks and ETFs super a breeze.

So Is Wealthsimple Trade Secure?

Definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD in Assets Under Management . These folks have been operating for more than 7 years and now employs roughly 600 Canadians. The majority owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.

How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very simple to add money to your account. Simply connect a chequing or savings account to your Trade account, then add money to your account in just a few clicks. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts through the exact same process.

Which Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac E-transfers that allow one to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your tax return online free. It’s advertised as simple, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings account which lets one to get 1% cashback on your everyday spending, as well as earn a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a bunch of courses on saving, investing, crypto, real estate and much more. 

Each of the above features, along with Wealthsimple Trade can be found on the app and at the website with a single login.

So How Can I Start With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you will get the equivalent cash value of a random stock worth $25 up to $4,500 Canadian when you make an initial deposit to your account.

So What if I Still Have Questions Related to Wealthsimple Office?

If this review still hasn’t given you the answers to all of your questions, and you’re still looking for further specific information relating to Wealthsimple Office, check out the Wealthsimple site for answers to all your questions.