Wealthsimple Review 2022: What Is Wealthsimple Canada

What is Wealthsimple?

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

A leading Canadian online financial services business launched in the Fall twenty fourteen exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has evolved significantly over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian investors trade both single stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading ETFs and stocks which are denominated in US Dollars. In this case, they charge a nominal currency conversion fee both when buying and selling. However, past us are the times of having to pay more than $7 per trade with discount brokerages as was the norm only a few years past.

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

Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and brokerages have sizeable minimum deposit amounts of 1K-5K. This makes it hard for the typical new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

They do. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. One may choose both RRSP and TFSA accounts in the setup phase. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on iOS and also Google Play. The app makes the enrollment process and also the trading of stocks and ETFs super a breeze.

But Is Wealthsimple Trade Safe?

Most definitely. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . These folks have been expanding for more than 7 years and right now employs about 600 folks. The controlling owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.

So How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so straight forward to deposit to your new account. Simply connect to a chequing or savings account to your Trade account, then fund your account in just a couple of steps. Deposits from your bank to Wealthsimple typically take only a few days. Funds can the same way can be withdrawn your chequing or savings accounts by the exact same process.

What Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to Interac E-Transfers that allow you to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for this tax year and submit your tax return online free. It’s advertised as easy, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings product which allows one to get 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest on savings.

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

All of the above features, including Wealthsimple Trade can be accessed in the mobile app or at the website with your Wealthsimple login.

So How Can I Begin Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For a special registration bonus for our audience you’ll get the cash value of a random stock worth $25 up to $4,500 Canadian once you make an initial deposit to your account.

What if I Still Have Additional Questions About What Is Wealthsimple Canada?

If this review didn’t answered all of your questions, and you’re still looking for further specific answers about What Is Wealthsimple Canada, check out the Wealthsimple site to find answers to each your questions.