Wealthsimple Review 2022: Wealthsimple Online

What is Wealthsimple?

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

A Toronto, Ontario based fintech company founded in the Fall twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has improved substantially over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows investors to trade both individual stocks and also ETFs without needing to pay any commissions. The exception to this is when trading stocks and ETFs that are displayed in USD. In which case, they charge a nominal currency conversion fee both when buying and selling. However, gone are the days of paying $7-12 for each trade with digital discount brokerages as was normal only a few years past.

How Much Cash do I Need to Have to Start With Wealthsimple Trade?

Wealthsimple is unique such that they allow Canadians to make a minimum deposit of just $1. Many traditional banks and discount brokerages have large minimum deposit amounts of 1K-$5000. This makes it hard for the every day investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

They do. Wealthsimple Trade has available both registered and non-registered account types. One may choose both RRSP and TFSA account types in the setup phase. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on iOS and Google Play. The mobile app makes the signup phase and also trading of stocks and ETFs very easy.

Is Wealthsimple Trade Secure?

Most definitely. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). they’ve been expanding for more than 7 years and right now employs over 600 Canadians. The primary owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.

How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so simple to deposit to a new account. Simply connect the app to a chequing or savings account to your Trade account, and fund your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can just as easily be moved to a chequing or savings account by using the same steps.

What Additional Features and Products Are Available?

Wealthsimple Cash – An equivalent to Interac e-Transfers which allows one to quickly and efficiently transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid visa and savings account which lets you to recieve 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a ton of online courses on saving, investing, crypto, home buying and more. 

All of the mentioned features, including Wealthsimple Trade may be accessed inside the mobile app or on the site with your Wealthsimple login.

But How Can I Start Using Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you’ll get the equivalent cash value of a random Canadian stock worth $25 up to $4,500 CAD when you deposit to your account.

But What if I Still Have Questions Related to Wealthsimple Online?

If this article still hasn’t answered all of your questions, and you’re still searching for more specific information relating to Wealthsimple Online, visit the Wealthsimple website to get answers to each your questions.