Wealthsimple Review 2022: Wealthsimple Referral

What is Wealthsimple?

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

A Toronto, Ontario based online financial services business founded in Autumn 2014 exclusively as a robo-advisor trading app named Wealthsimple Invest, it has grown significantly over the past eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows investors trade stand alone stocks and ETFs without paying fees. The exception is when trading ETFs and stocks which are displayed in USD. In which case, they will charge a currency conversion fee when buying and selling. However, behind us are the times of having to pay $7-12 per trade with discount brokerages as was common a few years ago.

How Much Cash Will I Need in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and brokerages have large initial deposit amounts of $1,000-$5000. This makes it impossible for the everyday investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade offers both registered and non-CRA-registered accounts. One are able to select between both RRSP and TFSA account types during the setup phase. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a convenient mobile app that is offered to download on IOS and also Android. The smartphone app makes the signup phase and also the trading of stocks and ETFs super easy.

So Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian of Assets Under Management . This company has been in business for more than 7 years and also employs about 600 people. The primary owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.

So How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very simple to add funds to a new account. Simply connect the app to a chequing or savings account with your Trade account, then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can the same way can be withdrawn your chequing or savings account by the same steps.

What Other Benefits and Products Are Available?

Wealthsimple Cash – This is alternative to e-Transfers that allow you to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax season and submit your taxes online for free. It’s pitched to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination pre paid visa and savings account which lets one to recieve 1% cashback on all your spending, as well as earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a ton of online courses on different topics such as saving, investing, crypto, mortgages and much more. 

Every one of the above products, along with Wealthsimple Trade may be found inside the app and at their website with one login.

How Can I Begin Using Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you’ll get the cash value of a random Canadian stock worth up to $4,500 CAD once you fund your account.

But What if I Still Have Questions About Wealthsimple Referral?

If this blog post didn’t given you the answers to all of your questions, and you’re still searching for more information relating to Wealthsimple Referral, check out the Wealthsimple site for answers to every one of your questions.