Wealthsimple Review 2022: Wealthsimple Questrade

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, stocks plus crypto trading platform that distinguishes itself from its competitors by charging no fees. 

A leading Canadian online financial services company launched in Autumn twenty fourteen originally as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has improved considerably over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows investors to trade individual stocks and ETFs without having to pay any commissions. The exception is when you’re trading stocks and ETFs that are denominated in US Dollars. In this case, they will charge a small currency conversion fee both when buying and selling. But, gone are the times of having to pay Upwards of $7 per trade with online discount brokerages as was common a few years ago.

Exactly How Much Cash do I Need in Order to Get Started on Wealthsimple Trade?

Wealthsimple is awesome such that they allow investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have large min deposit amounts of $1000-5k. This makes it difficult for the typical investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

It does. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One may select both RRSP and TFSA account types in the setup process. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app offered on both Apple and also Android. The smartphone app makes the signup phase and the trading of stocks and ETFs incredibly a breeze.

Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management . These folks have been operating for more than 7 years and also right now employs more than 600 people. The majority shareholder is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage operating in Canada.

But How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very easy to add money to an account. Simply connect a chequing or savings account with your Trade account, and then add funds to your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can the same way can be moved to your chequing or savings account with the same steps.

What Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac E-transfers that allows you to quickly and simply transfer money to friends and family in Canada.

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

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

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of courses on different topics such as saving, investing, crypto, real estate and more. 

Every one of the above products, along with Wealthsimple Trade may be accessed within the mobile app or at the website with one login.

But How do I Begin With Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. For an exclusive signup bonus for our readers you’ll receive the cash value of a Canadian stock valued at up to $4,500 CAD as soon as you fund your account.

But What if I Still Have Additional Questions Concerning Wealthsimple Questrade?

If this blog post still hasn’t answered all of your questions, and you’re searching for additional specific info about Wealthsimple Questrade, check out the Wealthsimple site to get answers to all your questions.