Wealthsimple Review Reddit 2022: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, securities and crypto trading web app that differentiates itself from similar apps by charging absolutely no fees. 

A online financial services business founded in the Autumn of 2014 originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed significantly over the past eight years to include Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian investors trade stand alone stocks and ETFs without having to pay any fees. The exception is when you’re trading ETFs and stocks which are listed in US Dollars. In that case, they will charge a small currency conversion fee when buying and selling. However, behind us are the times of paying $7-12 per trade with online discount brokerages as was normal a few years past.

Exactly How Much in Funds do I Need to Have to Start on Wealthsimple Trade?

Wealthsimple is awesome such that they allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of 1K-$5000. This makes it hard for the everyday investor to start. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

Of course. Wealthsimple Trade has available both registered and non-registered account types. One may select both RRSP and TFSA account types during the setup wizard. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app available on Apple and Google Play. The mobile app makes the registration steps and the trading of stocks and ETFs incredibly painless.

Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). This company has been expanding for more than 7 years and now employs over 600 Canadians. The main shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.

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

The Wealthsimple Trade smartphone app makes it very simple to deposit to your account. Just connect the app to a chequing or savings account to your Trade account, and then add money to your account in simply a few steps. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can the same way can be moved to your chequing or savings account using the same method.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to Interac E-Transfers that allows you to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax season and submit your taxes online for free. It’s advertised as easy, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account which lets you to get 1% cashback on your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.

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

Each of the mentioned products, including Wealthsimple Trade may be accessed within the mobile app and from the website with one login.

But How Should I Begin With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As an exclusive registration bonus for our audience you’ll get the cash value of a Canadian stock worth up to $4,500 CAD once you deposit to your account.

What if I Still Have Questions About Wealthsimple Tax?

If this blog post still hasn’t given you the answers to all of your questions, and you’re searching for additional answers about Wealthsimple Review Reddit 2022, visit the Wealthsimple website to find answers to all your questions.