Wealthsimple Review 2022: What Is Wealthsimple Trade

What Exactly is Wealthsimple?

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

A Toronto, Ontario based online financial services business launched in Autumn of twenty fourteen originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed considerably over the previous 8 years to also feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets consumers to trade individual stocks and also ETFs without needing to pay any commissions. The exception is when 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. But, past us are the days of having to pay more than $7 per each trade with online discount brokerages as was the norm just a few years past.

How Much Money do I Need to Start on Wealthsimple Trade?

Wealthsimple is awesome such that they allow investors to make a minimum deposit of just $1. Most traditional banks and brokerages have quite large minimum deposit amounts of 1k-$5,000. This makes it impossible for the normal investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade has both registered and non-registered account types. One can select both RRSP and TFSA accounts during the setup process. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app that is offered on IOS and also Google Play. The smartphone app makes the enrollment steps and trading of stocks and ETFs incredibly simple.

But Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management (AUM). This company has been doing business for more than 7 years and right now employs over 600 folks. The main shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.

But How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it easy to add money to your new account. Simply connect a chequing or savings account with your Trade account, and then add funds to your account in only a couple of clicks. Deposits from your bank to Wealthsimple usually take only a few days. Funds can the same way can be moved to a chequing or savings account using the same method.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to E-Transfers which allows one to quickly and easily transfer money to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid debit card and savings account which allows one to get 1% cashback on all your everyday purchases, and also earn a competitive 1.5% interest rate on savings.

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

All of the listed products, along with Wealthsimple Trade may be found within the app or on the website with your Wealthsimple login.

So How Can I Get Started Using Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. For a special registration bonus for our audience you’ll get the equivalent cash value of a random share valued at $25 up to $4,500 CAD as soon as you add funds to your account.

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

If this review didn’t given you the answers to each of your questions, and you’re still browsing for additional specific information about What Is Wealthsimple Trade, visit the Wealthsimple website to get answers to each your questions.