Wealthsimple Review 2022: Wealthsimple Parent Company

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, securities and crypto trading app that distinguishes itself from similar apps by charging absolutely no fees. 

A Toronto, Ontario based online financial services company founded in the Fall of 2014 exclusively as a robo advisor trading platform named Wealthsimple Invest, it has grown substantially over the last 8 years to also include Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows investors to trade both single stocks and also ETFs without needing to pay commissions. The exception is when you’re trading securities that are listed in USD. In this case, they will charge a small currency conversion fee when buying and selling. However, behind us are the days of having to pay $7-12 per each trade with digital discount brokerages as was the norm just a few years ago.

Exactly How Much Cash do I Need to Have to Start Investing on Wealthsimple Trade?

Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable minimum deposit amounts of 1K-5K. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

Yes. Wealthsimple Trade offers both registered and non-registered account types. You may choose both RRSP and TFSA account types during the setup wizard. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app available to download on both Apple and also Google Play. The smartphone app makes the enrollment process and also trading of stocks and ETFs very easy.

But Is Wealthsimple Trade Legit?

Most definitely. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . They have been doing business for more than 7 years and employs roughly 600 people. The main shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.

How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly simple to add money to your new account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can just as easily be moved back to your chequing or savings account with the exact same steps.

What Additional Features and Products Are Available?

Wealthsimple Cash – This is equivalent to Interac E-Transfers which allow one to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax year and submit your taxes online free. It’s advertised to be easy, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings account which allows you to recieve 1% cashback on your everyday spending, and also earn a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a ton of courses on different topics such as saving, investing, crypto, home buying and much more. 

Each of the above products, including Wealthsimple Trade can be found inside the mobile app or at their website with your Wealthsimple login.

But How Can I Begin With Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. For a special registration bonus offer to our audience you will get the cash value of a random share valued at $25 up to $4,500 Canadian when you make an initial deposit to your account.

But What if I Still Have Additional Questions About Wealthsimple Parent Company?

If this blog post hasn’t answered each of your questions, and you’re looking for additional facts about Wealthsimple Parent Company, check out the Wealthsimple site to get answers to each your questions.