Wealthsimple Review 2022: Who Owns Wealthsimple

What Exactly is Wealthsimple?

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

A fintech business launched in the Autumn 2014 originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows Canadian consumers to trade single stocks and also ETFs without needing to pay any commissions. The exception is when trading securities that are displayed in USD currency. In which case, they charge a nominal currency conversion fee when buying and selling. However, gone are the times of having to pay more than $7 per each trade with online discount brokerages as was the case a couple years past.

How Much Money Will I Need to Have to Begin Investing With Wealthsimple Trade?

Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and brokerages have large initial deposit amounts of $1000-$5000. This makes it tough for the everyday investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

Of course. Wealthsimple Trade has available registered and non-registered accounts. One are able to choose between both RRSP and TFSA account types during the setup process. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a convenient mobile app that is available on IOS and also Google Play. The app makes the registration process and trading of stocks and ETFs truly simple.

So Is Wealthsimple Trade Trustworthy?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). they’ve been doing business for more than 7 years and also at this time employs roughly 600 folks. The primary owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.

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

The Wealthsimple Trade mobile app makes it incredibly easy to add money to your account. Just connect to a chequing or savings account to your Trade account, and then fund your account in just a couple of steps. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can the same way can be withdrawn a chequing or savings account with the same process.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An 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 need to get ready for tax season and file your taxes online for free. It’s pitched to be easy, accurate and always free tax filing.

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

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

Each of the listed features, along with Wealthsimple Trade may be found within the mobile app and on their site with your Wealthsimple login.

So How do I Begin With Wealthsimple Trade?

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

But What if I Still Have Questions Related to Who Owns Wealthsimple?

If this review didn’t given you the answers to all of your questions, and you’re still looking for further specific information relating to Who Owns Wealthsimple, go to the Wealthsimple site to get answers to each your questions.