Wealthsimple Review 2022: Wealthsimple Venture Fund

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stocks plus crypto trading web app that differentiates itself from similar apps by charging no fees. 

A Toronto, Ontario based online financial services business launched in Fall 2014 originally as a robo advisor automated trading platform named Wealthsimple Invest, it has evolved considerably over the last 8 years to feature Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows investors to trade both single stocks and ETFs without having to pay commissions. The exception to this is when trading stocks and ETFs which are listed in USD currency. In that case, they charge a nominal currency conversion fee when buying and selling. However, behind us are the times of having to pay more than $7 for each trade with digital discount brokerages as was common only a couple years ago.

Exactly How Much Money do I Need to Begin Investing With Wealthsimple Trade?

Wealthsimple is unique such that they allow Canadians to make a minimum deposit of only $1. Most alternative banks and discount brokerages have quite large min deposit amounts of $1000-$5000. This makes it difficult for the every day investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

They do. Wealthsimple Trade has both registered and non-registered accounts. One can select between both RRSP and TFSA accounts in the setup wizard. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app offered to download on both Apple and Android. The smartphone app makes the enrollment process and the trading of stocks and ETFs super painless.

Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is safe. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). This company has been expanding for more than 7 years and employs over 600 people. The main shareholder is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.

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

The Wealthsimple Trade mobile app makes it incredibly simple to add funds to an account. Simply connect the app to a chequing or savings account with your Trade account, and fund your account in simply a few steps. Deposits from banks to Wealthsimple usually take a few days. Funds can just as easily be withdrawn a chequing or savings accounts through the exact same steps.

What Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to Interac E-Transfers which allow you to quickly and efficiently transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for this tax year and file your taxes online free. It’s pitched to be simple, accurate and always free tax return filing.

Wealthsimple Spend – A combination pre paid visa and savings product which allows one to recieve 1% cashback on all your spending, and also earn a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a bunch of online courses on different topics such as saving, investments, crypto, home buying and much more. 

Each of the above features, including Wealthsimple Trade can be found in the app and at their website with one login.

But How Should I Start With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As a special signup bonus to our audience you’ll get the cash value of a Canadian stock valued at up to $4,500 Canadian as soon as you add funds to your account.

So What if I Still Have Additional Questions Concerning Wealthsimple Venture Fund?

If this review didn’t answered all of your questions, and you’re searching for more specific answers relating to Wealthsimple Venture Fund, visit the Wealthsimple site to find answers to all your questions.