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Wealthsimple Review 2022: Your Account Settings Are Incompatible Wealthsimple

August 5, 2022 by Hackett Property

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based investing, stocks plus crypto trading platform that differentiates itself from its competitors by charging absolutely no fees. 

A online financial services business founded in the Fall 2014 originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved significantly over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets Canadian investors trade both stand alone stocks and also ETFs without having to pay any commissions. The exception is when you’re trading ETFs and stocks which are listed in USD currency. In this case, they charge a currency conversion fee when buying and selling. However, behind us are the days of paying more than $7 per each trade with discount brokerages as was expected only a few years ago.

Exactly How Much Money Will I Need in Order to Begin Investing on Wealthsimple Trade?

Wealthsimple is unique in that they will allow investors to make a minimum deposit of just $1. Most traditional banks and brokerages have quite large min deposit amounts of $1000-5K. This makes it impossible for the every day investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade offers registered and non-registered accounts. One are able to select both RRSP and TFSA accounts during the setup wizard. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app that is offered on both Apple and Android. The app makes the enrollment steps and also trading of stocks and ETFs incredibly simple.

Is Wealthsimple Trade Secure?

Of course. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . They have been expanding for more than 7 years and at this time employs about 600 people. The primary owner is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.

How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it easy to add funds to your account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in simply a few steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can the same way can be withdrawn a chequing or savings accounts with the exact same steps.

Which Other Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to Interac E-transfers that allows you to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for tax year and file your taxes online for free. It’s described to be simple, accurate and always free tax return filing.

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

Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a variety of different online courses on topics like saving, investments, crypto, mortgages and more. 

All of the above features, along with Wealthsimple Trade may be found in the app and at the site with your Wealthsimple login.

So How Should I Start Using Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you’ll get the equivalent cash value of a Canadian stock worth $25 up to $4,500 Canadian as soon as you fund your account.

But What if I Still Have Questions Related to Your Account Settings Are Incompatible Wealthsimple?

If this review hasn’t given you the answers to each of your questions, and you’re still searching for additional specific information relating to Your Account Settings Are Incompatible Wealthsimple, go to the Wealthsimple website to get answers to every one of your questions.

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