Wealthsimple Review 2022: Wealthsimple Roundup

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online investing, stocks and crypto trading web app that distinguishes itself from its competitors by charging no fees. 

A fintech company founded in the Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has changed considerably over the previous 8 years to feature Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian investors to trade both single stocks and ETFs without having to pay any fees. The exception to this is when trading stocks and ETFs that are displayed in USD. In which case, they will charge a currency conversion fee when buying and selling. But, gone are the days of paying more than $7 for each trade with online discount brokerages as was the case a few years past.

Exactly How Much in Funds Will I Need to Have in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is unique in that they allow new customers to make a minimum deposit of just $1. Most traditional banks and brokerages have large initial deposit amounts of $1,000-$5000. This makes it tough for the every day new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

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

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app that is available on both IOS and Google Play. The smartphone app makes the registration process and also the trading of stocks and ETFs incredibly painless.

But Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management . They have been in business for more than 7 years and at this time employs about 600 people. The primary owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.

How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to add money to an account. Simply connect to a chequing or savings account to your Trade account, then fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can the same way can be moved to your chequing or savings accounts using the same process.

Which Other Benefits and Products Are Offered by Wealthsimple?

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

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

Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows you to get 1% cashback on your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of different courses on topics like saving, investing, crypto, home buying and much more. 

All of the listed products, including Wealthsimple Trade may be found within the mobile app or from the site with a single login.

So How do I Start Using Wealthsimple Trade?

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

So What if I Still Have Questions Related to Wealthsimple Roundup?

If this blog post didn’t given you the answers to each of your questions, and you’re browsing for more information relating to Wealthsimple Roundup, visit the Wealthsimple site to find answers to every one of your questions.