Wealthsimple Review 2022: Wealthsimple Wiki

What is Wealthsimple?

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

A leading Canadian online financial services company launched in Fall of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has changed significantly over the last 8 years to include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows consumers to trade stand alone stocks and ETFs without having to pay fees. The exception to this is when you’re trading stocks which are displayed in US Dollars. In that case, they will charge a nominal currency conversion fee both when buying and selling. But, gone are the days of having to pay Upwards of $7 per trade with digital discount brokerages as was normal only a couple years past.

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

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

So Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade has available registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA accounts in the setup wizard. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app that is available on both IOS and Android. The smartphone app makes the signup steps and trading of stocks and ETFs truly simple.

So Is Wealthsimple Trade Legit?

Most definitely. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management (AUM). they’ve been operating for more than 7 years and employs roughly 600 Canadians. The main owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.

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

The Wealthsimple Trade mobile app makes it quite easy to fund your new account. Just connect to a chequing or savings account with your Trade account, then fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can the same way can be moved back to your chequing or savings account using the exact same steps.

Which Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to Interac e-transfers that allow anyone to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for this tax season and submit your tax return online for free. It’s described to be simple, accurate and always free tax filing.

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

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a variety of online courses on different topics such as saving, investments, crypto, real estate and much more. 

Each of the mentioned products, along with Wealthsimple Trade can be accessed in the app and on the website with your Wealthsimple login.

So How do I Get Started With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As an exclusive registration bonus for our readers you’ll receive the equivalent cash value of a random share worth $25 up to $4,500 CAD once you fund your account.

So What if I Still Have Additional Questions Related to Wealthsimple Wiki?

If this review still hasn’t answered all of your questions, and you’re still looking for more specific info relating to Wealthsimple Wiki, go to the Wealthsimple website for answers to each your questions.