Wealthsimple Review 2022: Wealthsimple Owner

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stock and crypto trading platform that distinguishes itself from other apps by charging no fees. 

A Toronto, Ontario based online financial services business founded in the Fall 2014 exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed significantly over the past 8 years to feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows Canadian consumers to trade both stand alone stocks and ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks which are denominated in USD currency. In that case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the times of paying $7-12 per each trade with digital discount brokerages as was expected just a few years ago.

How Much in Funds do I Need to Have to Begin Investing on Wealthsimple Trade?

Wealthsimple is unique in that they will allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have large initial deposit amounts of 1K-5K. This makes it tough for the common new investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

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

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both iOS and also Google Play. The smartphone app makes the signup steps and also trading of stocks and ETFs truly painless.

So Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian in Assets Under Management . These folks have been operating for more than 7 years and also currently employs over 600 folks. The main owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.

So How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so easy to fund a new account. Just connect the app to a chequing or savings account with your Trade account, then fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can the same way can be withdrawn your chequing or savings account using the exact same process.

What Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac E-Transfers which allows you to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for tax year and submit your taxes online free. It’s described as easy, accurate and always totally free tax filing.

Wealthsimple Spend – A combination pre paid visa and savings account that allows one to earn 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest on savings.

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

Each of the above products, along with Wealthsimple Trade can be found on the app or from the website with a single login.

How Should I Begin Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer to our readers you’ll get the cash value of a random Canadian stock worth $25 up to $4,500 CAD once you fund your account.

But What if I Still Have Questions Concerning Wealthsimple Owner?

If this article still hasn’t answered each of your questions, and you’re searching for further info relating to Wealthsimple Owner, visit the Wealthsimple website for answers to all your questions.