Wealthsimple Review 2022: Ynab Wealthsimple

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, stock and crypto trading platform that sets itself apart from other apps by charging absolutely no fees. 

A leading Canadian fintech company founded in Fall twenty fourteen exclusively as a robo advisor algorithmic trading app named Wealthsimple Invest, it has grown considerably over the past 8 years to feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows investors to trade single stocks and also ETFs without having to pay any fees. The exception is when trading stocks that are listed in USD currency. In this case, they do charge a small currency conversion fee when buying and selling. However, past us are the days of paying more than $7 for each trade with discount brokerages as was expected only a couple years ago.

How Much Money Will I Need to Get Started With Wealthsimple Trade?

Wealthsimple is unique such that they allow investors to make a minimum deposit of only $1. Most alternative banks and brokerages have large min deposit amounts of 1k-5k. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Have Registered Accounts?

They do. Wealthsimple Trade has registered and non-CRA-registered account types. One may select both RRSP and TFSA account types in the setup process. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a well designed mobile app that is available on both IOS and also Google Play. The mobile app makes the signup phase and also the trading of stocks and ETFs incredibly easy.

But Is Wealthsimple Trade Safe?

. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . they’ve been expanding for more than 7 years and now employs roughly 600 Canadians. The primary shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.

How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it simple to fund your account. Just connect a chequing or savings account to your Trade account, and then add money to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can the same way can be moved to a chequing or savings accounts using the exact same process.

Which Other Benefits and Products Does Wealthsimple Offer?

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

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

Wealthsimple Spend – A combination prepaid visa and savings account which lets one to recieve 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a variety of courses on saving, investing, crypto, mortgages and more. 

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

But How do I Start With Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. As an exclusive registration bonus for our audience you will receive the equivalent cash value of a random share valued at $25 up to $4,500 Canadian when you add funds to your account.

But What if I Still Have Questions Concerning Ynab Wealthsimple?

If this article still hasn’t answered all of your questions, and you’re still browsing for more facts about Ynab Wealthsimple, visit the Wealthsimple site to get answers to all your questions.