Wealthsimple Review 2022: Wealthsimple Usd Fee

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based investing, securities plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees. 

A Toronto, Ontario based fintech company launched in Autumn 2014 exclusively as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has evolved considerably over the last 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets investors trade both single stocks and ETFs without having to pay commissions. The exception is when you’re trading stocks that are denominated in US Dollars. In which case, they will charge a currency conversion fee when buying and selling. But, gone are the days of having to pay more than $7 for each trade with online discount brokerages as was expected a few years past.

How Much Cash do I Need to Have to Begin Investing on Wealthsimple Trade?

Wealthsimple is cool in that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large initial deposit amounts of 1K-$5,000. This makes it hard for the normal investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade has both CRA registered and non-registered account types. One are able to select between both RRSP and TFSA account types during the setup wizard. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app that is offered to download on Apple and Google Play. The app makes the registration process and also the trading of stocks and ETFs very a breeze.

But Is Wealthsimple Trade Secure?

Most definitely. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . They have been doing business for more than 7 years and also right now employs over 600 Canadians. The primary owner is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.

How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very straight forward to add money to an account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can also be withdrawn your chequing or savings account using the exact same process.

Which Additional Features and Products Are Available?

Wealthsimple Cash – This is equivalent to Interac e-Transfers that allows you to quickly and easily transfer money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid visa and savings account that lets one to get 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a ton of courses on saving, investments, crypto, mortgages and more. 

Every one of the above features, including Wealthsimple Trade can be accessed on the app and on the website with a single login.

So How Can I Get Started With Wealthsimple Trade?

Click here to setup a new Wealthsimple Trade account. As an exclusive signup bonus for our readers you’ll get the equivalent cash value of a stock valued at $25 up to $4,500 CAD once you fund your account.

What if I Still Have Questions About Wealthsimple Usd Fee?

If this review still hasn’t given you the answers to all of your questions, and you’re still browsing for further info relating to Wealthsimple Usd Fee, check out the Wealthsimple site to get answers to each your questions.