Wealthsimple Review 2022: Wealthsimple Trade $50 Bonus

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks and crypto trading web app that sets itself apart from similar apps by charging no fees. 

A leading Canadian fintech business founded in the Fall twenty fourteen exclusively as a robo advisor trading app named Wealthsimple Invest, it has evolved considerably over the last 8 years to also feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian investors to trade both individual stocks and ETFs without paying any fees. The exception is when you’re trading ETFs and stocks that are displayed in USD. In which case, they will charge a nominal currency conversion fee when buying and selling. But, past us are the days of having to pay $7-12 for each trade with online discount brokerages as was the case just a couple years ago.

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

Wealthsimple is cool such that they will allow investors to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large initial deposit amounts of $1,000-$5,000. This makes it difficult for the normal investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer RRSP Accounts?

Yes. Wealthsimple Trade has CRA registered and non-registered account types. You are able to select between both RRSP and TFSA accounts during the setup wizard. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app that is available to download on IOS and also Google Play. The smartphone app makes the enrollment phase and the trading of stocks and ETFs super painless.

So Is Wealthsimple Trade Safe?

. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management (AUM). They have been in business for more than 7 years and employs over 600 Canadians. The majority owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.

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

The Wealthsimple Trade smartphone app makes it incredibly simple to add money to a new account. Just connect to a chequing or savings account to your Trade account, and add funds to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can just as easily be withdrawn a chequing or savings accounts through the same process.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to Interac E-Transfers which allow anyone to quickly and easily send money to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid debit card and savings account that allows you to get 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of different online courses on saving, investments, crypto, real estate and much more. 

Each of the above products, including Wealthsimple Trade may be accessed on the mobile app and from the website with one login.

So How do I Get Started Using Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For a special signup bonus offer for our readers you will get the equivalent cash value of a random stock valued at up to $4,500 CAD as soon as you fund your account.

What if I Still Have Questions About Wealthsimple Trade $50 Bonus?

If this blog post didn’t answered all of your questions, and you’re browsing for more information about Wealthsimple Trade $50 Bonus, visit the Wealthsimple site to find answers to every one of your questions.