Wealthsimple Review 2022: Wealthsimple Quora

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, stock and crypto trading app that sets itself apart from the competition by charging no fees. 

A leading Canadian online financial services business founded in the Fall twenty fourteen originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has improved considerably over the past eight years to also include Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian consumers trade stand alone stocks and ETFs without paying any fees. The exception is when trading stocks which are displayed in US Dollars. In this case, they do charge a currency conversion fee both when buying and selling. However, behind us are the times of having to pay Upwards of $7 per trade with discount brokerages as was common only a couple years ago.

Exactly How Much Money Will I Need to Have in Order to Start on Wealthsimple Trade?

Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of $1000-5K. This makes it difficult for the common investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade offers both CRA registered and non-registered account types. You may select between both RRSP and TFSA account types during the setup wizard. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app that is available to download on iOS and Google Play. The mobile app makes the enrollment process and trading of stocks and ETFs painless.

Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). These folks have been expanding for more than 7 years and right now employs more than 600 Canadians. The majority owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.

How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly straight forward to add money to your new account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can the same way can be moved back to your chequing or savings accounts using the same method.

Which Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to Interac e-transfers that allows you to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax year and file your taxes online free. It’s described as easy, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings account that allows you to get 1% cashback on your purchases, as well as earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a ton of online courses on saving, investing, crypto, real estate and more. 

Each of the above features, along with Wealthsimple Trade may be found in the mobile app or on their site with one login.

How do I Get Started With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As an exclusive signup bonus for our audience you’ll receive the cash value of a share valued at $25 up to $4,500 CAD once you fund your account.

So What if I Still Have Questions Concerning Wealthsimple Quora?

If this blog post didn’t answered all of your questions, and you’re still browsing for additional information about Wealthsimple Quora, go to the Wealthsimple site to find answers to each your questions.