Wealthsimple Review 2022: Zoe Wealthsimple

What is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, stocks plus crypto trading app that sets itself apart from its competitors by charging no fees. 

A leading Canadian online financial services company founded in the Autumn twenty fourteen originally as a robo advisor automated trading platform called Wealthsimple Invest, it has evolved considerably over the past eight years to also include Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers to trade both individual stocks and also ETFs without paying fees. The exception to this is when you’re trading securities which are listed in USD. In this case, they do charge a small currency conversion fee when buying and selling. But, behind us are the days of paying $7-12 per each trade with online discount brokerages as was the case only a few years ago.

How Much Money do I Need to Have to Start Investing With Wealthsimple Trade?

Wealthsimple is cool in that they will allow investors to make a minimum deposit of just $1. Many traditional banks and brokerages have quite large initial deposit amounts of $1,000-5k. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade has both registered and non-registered account types. One are able to select between both RRSP and TFSA account types in the setup process. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on Apple and Google Play. The smartphone app makes the enrollment steps and trading of stocks and ETFs very painless.

But Is Wealthsimple Trade Trustworthy?

Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management . This company has been operating for more than 7 years and right now employs more than 600 folks. The main owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.

But How Does One Add Funds to a Wealthsimple Trade Account?

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

Which Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to e-Transfers which allow you to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online for free. It’s described as simple, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows one to earn 1% cashback on your purchases, and also earn a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a ton of courses on saving, investments, crypto, real estate and much more. 

All of the listed products, along with Wealthsimple Trade may be accessed on the app and on their site with your Wealthsimple login.

So How Can I Get Started Using Wealthsimple Trade?

Click here to setup a new Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you will get the cash value of a share valued at $25 up to $4,500 Canadian once you add funds to your account.

What if I Still Have Additional Questions Related to Zoe Wealthsimple?

If this article hasn’t given you the answers to each of your questions, and you’re still searching for additional answers about Zoe Wealthsimple, go to the Wealthsimple site to find answers to each your questions.