Wealthsimple Review 2022: Wealthsimple Salary

What is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, stocks plus crypto trading app that sets itself apart from other apps by charging no fees. 

A Toronto, Ontario based fintech company founded in the Autumn 2014 exclusively as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has grown considerably over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian investors trade stand alone stocks and also ETFs without having to pay any commissions. The exception to this is when trading ETFs and stocks which are listed 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 having to pay $7-12 per trade with discount brokerages as was the norm only a couple years past.

Exactly How Much in Funds do I Need to Have in Order to Get Started With Wealthsimple Trade?

Wealthsimple is special in that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable min deposit amounts of $1000-5K. This makes it difficult for the every day investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

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

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app available to download on both Apple and also Google Play. The mobile app makes the registration steps and the trading of stocks and ETFs very a breeze.

Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD of Assets Under Management (AUM). These folks have been in business for more than 7 years and employs over 600 folks. The majority shareholder is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.

So How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very straight forward to deposit to your new account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in only a few clicks. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can also be withdrawn a chequing or savings accounts with the exact same method.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to e-Transfers that allows you to quickly and efficiently send cash to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid visa and savings product which allows you to recieve 1% cashback on all your spending, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a bunch of courses on different topics such as saving, investments, crypto, real estate and more. 

Each of the mentioned features, including Wealthsimple Trade can be found on the app or on their site with a single login.

So How Should I Get Started With Wealthsimple Trade?

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

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

If this review hasn’t answered each of your questions, and you’re still browsing for additional answers relating to Wealthsimple Salary, go to the Wealthsimple site to get answers to all your questions.