Wealthsimple Review 2022: Wealthsimple Vs Vgro

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, stocks and crypto trading app that sets itself apart from other apps by charging absolutely no fees. 

A leading Canadian online financial services company founded in the Fall of twenty fourteen originally as a robo advisor automated trading platform named Wealthsimple Invest, it has improved significantly over the past eight years to also include Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers trade single stocks and also ETFs without having to pay fees. The exception is when you’re trading stocks which are listed in US Dollars. In that case, they charge a currency conversion fee when buying and selling. However, past us are the times of having to pay $7-12 per trade with online discount brokerages as was common only a few years past.

Exactly How Much in Funds do I Need in Order to Get Started on Wealthsimple Trade?

Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have sizeable initial deposit amounts of 1K-$5,000. This makes it impossible for the everyday investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade has registered and non-CRA-registered account types. You are able to choose both RRSP and TFSA account types in the setup process. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app available to download on both IOS and Google Play. The smartphone app makes the registration phase and trading of stocks and ETFs super painless.

Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). they’ve been in business for more than 7 years and also currently employs roughly 600 Canadians. The controlling shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage to operate in Canada.

But How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so straight forward to fund a new account. Simply connect a chequing or savings account to your Trade account, and then fund your account in only a few clicks. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can just as easily be moved back to a chequing or savings account by using the exact same process.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – An alternative to Interac E-Transfers that allow 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 to be easy, accurate and always free tax return filing.

Wealthsimple Spend – A combination prepaid debit card and savings product which lets one to recieve 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of online courses on different topics such as saving, investments, crypto, home buying and much more. 

Each of the listed features, including Wealthsimple Trade can be found on the mobile app and at their site with your Wealthsimple login.

But How Should I Start Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As a special registration bonus offer for our readers you will receive the cash value of a random Canadian stock worth up to $4,500 CAD as soon as you add funds to your account.

What if I Still Have Additional Questions About Wealthsimple Vs Vgro?

If this article still hasn’t given you the answers to all of your questions, and you’re still browsing for additional facts relating to Wealthsimple Vs Vgro, check out the Wealthsimple site to get answers to all your questions.