Wealthsimple Review 2022: Wealthsimple Promo

What is Wealthsimple?

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

A leading Canadian fintech business founded in the Autumn twenty fourteen originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown considerably over the last eight years to also include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows consumers trade both individual stocks and also ETFs without needing to pay any fees. The exception to this is when trading stocks which are displayed in USD. In which case, they will charge a nominal currency conversion fee when buying and selling. But, behind us are the days of having to pay $7-12 per each trade with digital discount brokerages as was common only a couple years past.

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

Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable min deposit amounts of $1,000-$5000. This makes it hard for the normal 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 Registered Accounts?

Yes. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. One are free to select both RRSP and TFSA accounts during the setup wizard. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app that is available on both Apple and Google Play. The smartphone app makes the signup process and also trading of stocks and ETFs super simple.

Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). These folks have been doing business for more than 7 years and now employs over 600 folks. The main owner is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.

How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite simple to deposit to your new account. Just connect to a chequing or savings account to your Trade account, and then add money to your account in only a couple of clicks. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can the same way can be moved back to a chequing or savings account by the same method.

Which Other Features and Products Are Available?

Wealthsimple Cash – This is equivalent to Interac e-Transfers that allow you to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your taxes online for free. It’s pitched to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings account that allows one to earn 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest on savings.

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

All of the above features, including Wealthsimple Trade may be found inside the mobile app and from their site with your Wealthsimple login.

How Can I Get Started Using Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. For an exclusive registration bonus to our readers you will receive the cash value of a stock valued at up to $4,500 CAD when you fund your account.

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

If this blog post still hasn’t answered all of your questions, and you’re still browsing for more information about Wealthsimple Promo, check out the Wealthsimple site to get answers to every one of your questions.