Wealthsimple Review 2022: What Crypto Is On Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, stocks and crypto trading app that sets itself apart from its competitors by charging absolutely no fees. 

A fintech business launched in the Fall of twenty fourteen originally as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has improved considerably over the last 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets consumers to trade individual stocks and also ETFs without needing to pay fees. The exception to this is when trading ETFs and stocks which are denominated in US Dollars. In which case, they will charge a currency conversion fee when buying and selling. However, past us are the days of paying $7-12 per trade with online discount brokerages as was common only a couple years ago.

How Much in Funds do I Need to Have to Start Investing With Wealthsimple Trade?

Wealthsimple is awesome such that they will allow investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of 1K-5K. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

Yes. Wealthsimple Trade has available both registered and non-registered accounts. One can select both RRSP and TFSA account types in the setup phase. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app available on both IOS and Google Play. The mobile app makes the registration steps and the trading of stocks and ETFs painless.

Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). They have been in business for more than 7 years and currently employs about 600 Canadians. The primary shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage to operate in Canada.

But How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very simple to fund an account. Simply connect a chequing or savings account with your Trade account, and fund your account in only a few steps. Deposits from banks to Wealthsimple normally take a couple of days. Funds can the same way can be moved to your chequing or savings account by the exact same method.

What Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac E-Transfers that allows you to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your taxes online for free. It’s described as simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to get 1% cashback on all your purchases, and also earn a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of different online courses on different topics such as saving, investing, crypto, mortgages and more. 

All of the mentioned features, along with Wealthsimple Trade can be accessed in the mobile app or from their site with one login.

So How Should I Start With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For a special registration bonus offer for our readers you’ll receive the equivalent cash value of a random stock worth up to $4,500 CAD when you add funds to your account.

But What if I Still Have Questions Concerning What Crypto Is On Wealthsimple?

If this article still hasn’t answered all of your questions, and you’re still browsing for more information about What Crypto Is On Wealthsimple, visit the Wealthsimple website to find answers to all your questions.