Wealthsimple Review 2022: Wealthsimple Revenue

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online Financial, securities plus crypto trading app that sets itself apart from other apps by charging absolutely no fees. 

A fintech company founded in Autumn 2014 originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has changed substantially over the last eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets Canadian investors trade individual stocks and ETFs without paying any fees. The exception to this is when trading securities that are denominated in US Dollars. In which case, they will charge a nominal currency conversion fee both when buying and selling. However, gone are the days of paying more than $7 for each trade with digital discount brokerages as was common only a couple years ago.

Exactly How Much Cash do I Need to Begin Investing With Wealthsimple Trade?

Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of only $1. Many alternative banks and brokerages have large minimum deposit amounts of 1k-$5000. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

They do. Wealthsimple Trade has CRA registered and non-registered accounts. One can select between both RRSP and TFSA accounts during the setup wizard. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app that is offered on both Apple and Google Play. The app makes the enrollment process and also trading of stocks and ETFs super easy.

Is Wealthsimple Trade Safe?

. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). This company has been in business for more than 7 years and right now employs roughly 600 folks. The main owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.

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

The Wealthsimple Trade mobile app makes it so easy to add money to your account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in just a couple of clicks. Deposits from banks to Wealthsimple typically take a few days. Funds can also be moved to a chequing or savings account with the same method.

Which Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to E-transfers that allow you to quickly and simply transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax year and file your taxes online for free. It’s pitched as simple, accurate and always totally free tax filing.

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

Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a ton of different courses on saving, investments, crypto, real estate and much more. 

Each of the mentioned products, along with Wealthsimple Trade can be accessed on the app and at the website with your Wealthsimple login.

How Can I Begin Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you’ll get the cash value of a share worth $25 up to $4,500 Canadian once you fund your account.

What if I Still Have Additional Questions Related to Wealthsimple Revenue?

If this article didn’t answered each of your questions, and you’re still looking for further specific info about Wealthsimple Revenue, check out the Wealthsimple site to get answers to each your questions.