Wealthsimple Review 2022: Wealthsimple Tldr

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based investing, stocks plus crypto trading web app that sets itself apart from the competition by charging no fees. 

A Toronto, Ontario based online financial services company founded in Fall of twenty fourteen exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has evolved substantially over the last eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian consumers to trade both individual stocks and also ETFs without paying commissions. The exception to this is when you’re trading stocks and ETFs that are displayed in US Dollars. In this case, they charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 per each trade with online discount brokerages as was common just a few years past.

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

Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have quite large minimum deposit amounts of $1,000-$5000. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

It does. Wealthsimple Trade has available both registered and non-CRA-registered account types. One can select between both RRSP and TFSA accounts during the setup process. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app available to download on both iOS and Google Play. The mobile app makes the registration phase and trading of stocks and ETFs super easy.

Is Wealthsimple Trade Trustworthy?

Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management (AUM). they’ve been doing business for more than 7 years and also right now employs over 600 Canadians. The primary owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.

How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to add money to an account. Just connect to a chequing or savings account to your Trade account, then fund your account in simply a couple of steps. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can the same way can be moved to a chequing or savings accounts with the same process.

What Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to e-Transfers which allow anyone to quickly and efficiently transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid debit card and savings product that lets you to get 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a ton of different courses on different topics such as saving, investments, crypto, home buying and more. 

Each of the listed features, including Wealthsimple Trade can be accessed in the app or at the site with your Wealthsimple login.

But How Should I Start With Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you’ll get the equivalent cash value of a share valued at up to $4,500 CAD when you deposit to your account.

But What if I Still Have Additional Questions Related to Wealthsimple Tldr?

If this review still hasn’t given you the answers to each of your questions, and you’re still looking for further information about Wealthsimple Tldr, check out the Wealthsimple site to find answers to each your questions.