Wealthsimple Review 2022: Wealthsimple Trackid=sp-006

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, stock and crypto trading app that sets itself apart from similar apps by charging no fees. 

A Toronto, Ontario based fintech business founded in the Fall twenty fourteen originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has changed significantly over the last eight years to feature Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows Canadian consumers trade stand alone stocks and ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks and ETFs which are listed in USD currency. In this case, they do charge a currency conversion fee both when buying and selling. However, behind us are the days of having to pay Upwards of $7 for each trade with discount brokerages as was common a couple years ago.

How Much Cash do I Need to Have in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of $1000-$5000. This makes it difficult for the normal investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

It does. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. One can choose both RRSP and TFSA accounts in the setup process. 

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on iOS and also Google Play. The mobile app makes the signup phase and the trading of stocks and ETFs incredibly painless.

So Is Wealthsimple Trade Legit?

Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . they’ve been operating for more than 7 years and right now employs roughly 600 people. The primary shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.

But How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so easy to add money to your new account. Just connect to a chequing or savings account with your Trade account, and add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can just as easily be moved back to a chequing or savings account by using the same steps.

Which Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to e-transfers which allow anyone to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this 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 hybrid pre paid visa and savings account that lets you 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 which includes a variety of courses on saving, investing, crypto, mortgages and more. 

Every one of the mentioned features, along with Wealthsimple Trade may be found in the app and at the site with your Wealthsimple login.

But How Can I Begin Using Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. As a special signup bonus offer to our audience you will receive the equivalent cash value of a random share worth up to $4,500 Canadian when you make an initial deposit to your account.

What if I Still Have Questions About Wealthsimple Trackid=sp-006?

If this article still hasn’t answered each of your questions, and you’re still browsing for further specific answers relating to Wealthsimple Trackid=sp-006, check out the Wealthsimple website for answers to each your questions.