Wealthsimple Review 2022: Wealthsimple Quicken

What Exactly is Wealthsimple?

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

A leading Canadian fintech company founded in Fall twenty fourteen originally as a robo-advisor trading app called Wealthsimple Invest, it has improved substantially over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows investors trade single stocks and also ETFs without having to pay commissions. The exception is when you’re trading securities which are listed in USD currency. In that case, they charge a nominal currency conversion fee when buying and selling. However, past us are the times of paying $7-12 per each trade with online discount brokerages as was common only a couple years ago.

How Much in Funds Will I Need to Have to Begin Investing With Wealthsimple Trade?

Wealthsimple is cool in that they will allow investors to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable min deposit amounts of 1K-5k. This makes it impossible for the typical investor to start. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

Yes. Wealthsimple Trade has available both registered and non-CRA-registered account types. One may select both RRSP and TFSA accounts during the setup process. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app available to download on both IOS and Android. The smartphone app makes the signup phase and trading of stocks and ETFs super easy.

So Is Wealthsimple Trade Safe?

Most definitely. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and also now employs over 600 folks. The controlling shareholder is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.

How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly simple to add funds to an account. Simply connect to a chequing or savings account with your Trade account, and fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can also be moved back to a chequing or savings accounts by the same steps.

What Additional Features and Products Are Available?

Wealthsimple Cash – An equivalent to E-Transfers that allow one 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 described as simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows one to get 1% cashback on all your purchases, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of different courses on topics like saving, investments, crypto, real estate and more. 

All of the mentioned features, along with Wealthsimple Trade can be found in the app and on their site with your Wealthsimple login.

How do I Start With Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. As a special registration bonus offer to our audience you’ll get the equivalent cash value of a share valued at up to $4,500 CAD as soon as you make an initial deposit to your account.

But What if I Still Have Questions About Wealthsimple Quicken?

If this blog post didn’t given you the answers to all of your questions, and you’re still browsing for additional info about Wealthsimple Quicken, go to the Wealthsimple website for answers to each your questions.