Wealthsimple Review 2022: Wealthsimple Risk Level 6 Reddit

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, stock plus crypto trading web app that differentiates itself from similar apps by charging no fees. 

A Toronto, Ontario based fintech company launched in Autumn of 2014 originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has changed substantially over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows consumers to trade stand alone stocks and also ETFs without paying commissions. The exception to this is when you’re trading stocks that are denominated in USD currency. In that case, they charge a currency conversion fee when buying and selling. But, gone are the times of paying Upwards of $7 per each trade with online discount brokerages as was normal just a couple years past.

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

Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of 1k-$5,000. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

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

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app that is offered on both IOS and Google Play. The app makes the enrollment phase and also the trading of stocks and ETFs incredibly a breeze.

So Is Wealthsimple Trade Legit?

Most definitely. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD of Assets Under Management . These folks have been expanding for more than 7 years and also right now employs over 600 Canadians. The primary owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.

But How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly straight forward to add funds to your new account. Simply connect the app to a chequing or savings account with your Trade account, and then add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple typically take only a few days. Funds can just as easily be moved to your chequing or savings account through the exact same process.

Which Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to e-Transfers which allows you to quickly and easily transfer cash to friends and family in Canada.

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

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

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of courses on saving, investing, crypto, home buying and much more. 

Every one of the listed products, including Wealthsimple Trade can be found in the app and at the site with your Wealthsimple login.

But How Can I Start Using Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. For a special registration bonus to our audience you will get the cash value of a random stock worth up to $4,500 Canadian as soon as you fund your account.

But What if I Still Have Additional Questions Concerning Wealthsimple Risk Level 6 Reddit?

If this blog post didn’t answered each of your questions, and you’re still browsing for additional answers about Wealthsimple Risk Level 6 Reddit, check out the Wealthsimple site to get answers to every one of your questions.