Wealthsimple Review 2022: Wealthsimple Robo Advisor

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading web app that differentiates itself from other apps by charging absolutely no fees. 

A leading Canadian fintech business launched in Autumn of 2014 exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has evolved significantly over the last 8 years to include Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows consumers trade both individual stocks and also ETFs without needing to pay fees. The exception is when trading stocks and ETFs which are denominated in USD currency. In this case, they charge a small currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 for each trade with discount brokerages as was the case just a couple years ago.

Exactly How Much Cash do I Need in Order to Start Investing With Wealthsimple Trade?

Wealthsimple is unique such that they allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable minimum deposit amounts of $1000-5k. This makes it tough for the common investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has available registered and non-registered accounts. One are able to select between both RRSP and TFSA accounts during the setup process. 

So Does Wealthsimple Trade Offer a Mobile Application?

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

But Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion CAD of Assets Under Management . They have been doing business for more than 7 years and also employs roughly 600 folks. The majority owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.

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

The Wealthsimple Trade mobile app makes it easy to deposit to a new account. Simply connect a chequing or savings account with your Trade account, then add money to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can just as easily be withdrawn your chequing or savings account by the same steps.

What Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac E-Transfers which allow one to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for tax season and file your tax return online for free. It’s described to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings product that allows one to recieve 1% cashback on your spending, and also get a very competitive 1.5% interest on savings.

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

All of the above features, along with Wealthsimple Trade can be accessed inside the mobile app and on the website with a single login.

So How do I Begin Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you’ll get the equivalent cash value of a random stock worth $25 up to $4,500 Canadian when you deposit to your account.

But What if I Still Have Questions Related to Wealthsimple Robo Advisor?

If this review hasn’t given you the answers to all of your questions, and you’re searching for further specific answers relating to Wealthsimple Robo Advisor, visit the Wealthsimple site to get answers to each your questions.