Wealthsimple Review 2022: Wealthsimple Yield Meaning

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, securities and crypto trading web app that distinguishes itself from similar apps by charging no fees. 

A leading Canadian fintech business founded in the Autumn of 2014 originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has improved substantially over the previous 8 years to also feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and ETFs without needing to pay any commissions. The exception to this is when you’re trading securities which are denominated in US Dollars. In which case, they do charge a small currency conversion fee both when buying and selling. But, behind us are the times of paying more than $7 per each trade with online discount brokerages as was expected a few years ago.

Exactly How Much Money Will I Need to Have in Order to Start With Wealthsimple Trade?

Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large initial deposit amounts of 1k-$5000. This makes it tough for the normal new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade has both registered and non-registered accounts. You may select both RRSP and TFSA account types in the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app available to download on both IOS and Android. The smartphone app makes the registration process and trading of stocks and ETFs super a breeze.

So Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). they’ve been doing business for more than 7 years and also at this time employs roughly 600 people. The primary owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.

But How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very straight forward to add money to an account. Just connect a chequing or savings account with your Trade account, and then add funds to your account in just a couple of steps. Deposits from banks to Wealthsimple typically take just a few days. Funds can the same way can be moved to a chequing or savings account by the same process.

Which Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to e-Transfers that allow you to quickly and simply transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for tax year and submit your taxes online for free. It’s described as easy, accurate and always totally free tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings account that lets one to recieve 1% cashback on your everyday spending, as well as get a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a ton of different online courses on topics like saving, investments, crypto, home buying and more. 

Each of the above features, including Wealthsimple Trade may be accessed within the mobile app or at their site with your Wealthsimple login.

But How Should I Begin With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For an exclusive signup bonus to our audience you will get the equivalent cash value of a random Canadian stock valued at up to $4,500 CAD once you fund your account.

But What if I Still Have Questions Concerning Wealthsimple Yield Meaning?

If this blog post hasn’t answered each of your questions, and you’re still looking for additional specific info relating to Wealthsimple Yield Meaning, check out the Wealthsimple site to get answers to each your questions.