Wealthsimple Review 2022: What Is A Tfsa Wealthsimple

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stocks plus crypto trading app that differentiates itself from the competition by charging absolutely no fees. 

A leading Canadian fintech company founded in Autumn of twenty fourteen originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has improved significantly over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows Canadian consumers to trade single stocks and also ETFs without paying fees. The exception is when you’re trading securities which are listed in US Dollars. In that case, they will charge a currency conversion fee when buying and selling. But, behind us are the days of having to pay more than $7 per each trade with discount brokerages as was expected just a few years past.

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

Wealthsimple is special in that they allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large min deposit amounts of 1k-5k. This makes it tough for the every day investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

It does. Wealthsimple Trade offers registered and non-registered accounts. One are free to choose between both RRSP and TFSA accounts during the setup wizard. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app available on both Apple and Google Play. The smartphone app makes the registration phase and also trading of stocks and ETFs incredibly easy.

But Is Wealthsimple Trade Secure?

For sure. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). This company has been operating for more than 7 years and right now employs over 600 people. The primary shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.

But How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly easy to add money to your new account. Just connect to a chequing or savings account to your Trade account, and fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can also be moved to your chequing or savings account by using the same steps.

Which Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to Interac E-Transfers which allow anyone to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your tax return online free. It’s pitched as easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A hybrid pre paid visa and savings product that lets one to earn 1% cashback on all your purchases, as well as get a very competitive 1.5% interest rate on savings.

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

Every one of the above features, along with Wealthsimple Trade can be found in the mobile app or from their website with your Wealthsimple login.

But How do I Start Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As a special signup bonus to our audience you will get the equivalent cash value of a random share worth up to $4,500 CAD as soon as you make an initial deposit to your account.

So What if I Still Have Additional Questions Concerning What Is A Tfsa Wealthsimple?

If this review hasn’t answered each of your questions, and you’re still looking for more specific information about What Is A Tfsa Wealthsimple, visit the Wealthsimple website to find answers to every one of your questions.