Wealthsimple Review 2022: Wealthsimple Visa

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian online Financial, stocks and crypto trading app that differentiates itself from the competition by charging no fees. 

A leading Canadian fintech company launched in Autumn of 2014 originally as a robo advisor trading platform named Wealthsimple Invest, it has improved considerably over the past 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian investors to trade single stocks and also ETFs without having to pay fees. The exception to this is when you’re trading stocks and ETFs that are listed in US Dollars. In which case, they charge a small currency conversion fee both when buying and selling. However, gone are the times of having to pay $7-12 for each trade with digital discount brokerages as was the case a couple years ago.

Exactly How Much in Funds Will I Need to Have to Begin Investing With Wealthsimple Trade?

Wealthsimple is cool in that they will allow investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable min deposit amounts of 1k-5k. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

They do. Wealthsimple Trade has both registered and non-registered accounts. One are free to choose both RRSP and TFSA accounts during the setup process. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app available to download on iOS and also Android. The app makes the enrollment steps and trading of stocks and ETFs incredibly simple.

Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). they’ve been operating for more than 7 years and currently employs roughly 600 Canadians. The main owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage to operate in Canada.

So How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite simple to deposit to a new account. Simply connect a chequing or savings account to your Trade account, then add funds to your account in only a few clicks. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can also be moved to a chequing or savings accounts by using the exact same method.

Which Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to E-transfers which allow anyone to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for this tax season and file your taxes online free. It’s advertised as easy, accurate and always totally free income tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings product that lets one to earn 1% cashback on your spending, as well as earn a very competitive 1.5% interest on savings.

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

All of the above features, including Wealthsimple Trade may be accessed in the mobile app or from the website with one login.

But How Can I Begin With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As a special signup bonus for our readers you’ll get the cash value of a Canadian stock worth $25 up to $4,500 CAD once you deposit to your account.

So What if I Still Have Questions Related to Wealthsimple Visa?

If this blog post still hasn’t given you the answers to all of your questions, and you’re still browsing for more specific information about Wealthsimple Visa, go to the Wealthsimple website to find answers to all your questions.