Wealthsimple Review 2022: Wealthsimple Performance

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, stock and crypto trading app that differentiates itself from other apps by charging absolutely no fees. 

A leading Canadian fintech business launched in Fall twenty fourteen exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the past 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers to trade both individual stocks and also ETFs without paying any commissions. The exception is when trading ETFs and stocks that are displayed 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 per each trade with online discount brokerages as was normal just a few years past.

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

Wealthsimple is special in that they will allow investors to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large minimum deposit amounts of 1K-$5,000. This makes it difficult for the typical investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. You can choose between both RRSP and TFSA accounts during the setup phase. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app offered on Apple and also Google Play. The mobile app makes the enrollment process and the trading of stocks and ETFs truly a breeze.

Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and also currently employs over 600 Canadians. The main owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.

So How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very simple to fund an account. Just connect a chequing or savings account with your Trade account, then add funds to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can the same way can be moved back to your chequing or savings accounts through the exact same steps.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – An alternative to E-Transfers which allow you to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for tax year and file your taxes online free. It’s advertised to be simple, accurate and always totally free tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings product that lets one to earn 1% cashback on all your spending, as well as earn a competitive 1.5% interest on savings.

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

All of the above features, along with Wealthsimple Trade may be found within the app or from their site with your Wealthsimple login.

So How Can I Get Started With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. For an exclusive signup bonus for our readers you will receive the equivalent cash value of a Canadian stock worth up to $4,500 Canadian as soon as you make an initial deposit to your account.

What if I Still Have Additional Questions Concerning Wealthsimple Performance?

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