Wealthsimple Review 2022: Wealthsimple Relevé 31

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, stock plus crypto trading web app that differentiates itself from its competitors by charging no fees. 

A fintech business launched in the Fall 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed substantially over the past eight years to also feature Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows investors trade both individual stocks and ETFs without paying commissions. The exception to this is when you’re trading ETFs and stocks that are denominated in USD. In which case, they charge a currency conversion fee both when buying and selling. But, past us are the days of paying $7-12 per each trade with online discount brokerages as was the norm just a couple years past.

Exactly How Much Cash do I Need to Start on Wealthsimple Trade?

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

Does Wealthsimple Trade Offer Registered Accounts?

Yes. Wealthsimple Trade has available registered and non-registered account types. You are free to select between both RRSP and TFSA accounts during the setup wizard. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a well designed mobile app that is available on both iOS and also Android. The smartphone app makes the enrollment steps and trading of stocks and ETFs super a breeze.

Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian in Assets Under Management . They have been expanding for more than 7 years and also now employs about 600 Canadians. The controlling owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.

But How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to add money to your new account. Just connect to a chequing or savings account to your Trade account, then fund your account in only a few clicks. Deposits from banks to Wealthsimple usually take just a few days. Funds can the same way can be moved back to a chequing or savings account through the exact same method.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to e-Transfers which allow anyone to quickly and easily transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your tax return online for free. It’s advertised to be easy, accurate and always free tax return filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account that allows you to earn 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a ton of different courses on topics like saving, investing, crypto, mortgages and more. 

Each of the mentioned features, along with Wealthsimple Trade may be found on the mobile app and on their website with one login.

So How Can I Get Started Using Wealthsimple Trade?

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

So What if I Still Have Questions Concerning Wealthsimple Relevé 31?

If this review didn’t given you the answers to each of your questions, and you’re still looking for more specific answers relating to Wealthsimple Relevé 31, check out the Wealthsimple website to get answers to each your questions.