Wealthsimple Review 2022: Wealthsimple Ontario Tax Calculator

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, securities and crypto trading web app that sets itself apart from other apps by charging no fees. 

A online financial services business founded in the Fall of 2014 exclusively as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown considerably over the past eight years to include Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers to trade single stocks and also ETFs without having to pay any fees. The exception to this is when trading ETFs and stocks that are listed in US Dollars. In which case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the times of having to pay more than $7 for each trade with discount brokerages as was common just a few years ago.

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

Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and discount brokerages have sizeable minimum deposit amounts of $1000-5K. This makes it difficult for the normal new investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

Yes. Wealthsimple Trade offers registered and non-CRA-registered account types. One may choose both RRSP and TFSA accounts during the setup process. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on both Apple and also Android. The mobile app makes the signup steps and trading of stocks and ETFs incredibly a breeze.

But Is Wealthsimple Trade Trustworthy?

. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). they’ve been operating for more than 7 years and also currently employs roughly 600 people. The primary owner is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.

But How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very simple to fund your new account. Just connect the app to a chequing or savings account with your Trade account, then add money to your account in just a few steps. Deposits from your bank to Wealthsimple typically take a couple of days. Funds can just as easily be moved back to a chequing or savings account with the same steps.

What Other Benefits and Products Are Available?

Wealthsimple Cash – An alternative to Interac e-transfers that allows you to quickly and easily transfer cash to friends and family in Canada.

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

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

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

All of the above features, along with Wealthsimple Trade may be accessed on the app and at the site with your Wealthsimple login.

How Can I Get Started With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As a special registration bonus offer for our readers you’ll receive the cash value of a stock valued at up to $4,500 Canadian once you deposit to your account.

But What if I Still Have Questions About Wealthsimple Ontario Tax Calculator?

If this blog post hasn’t answered all of your questions, and you’re still searching for further information about Wealthsimple Ontario Tax Calculator, visit the Wealthsimple site to get answers to each your questions.