My opinion on Wealthsimple
Wealthsimple is a Canadian broker established in 2014 that has garnered over 3 million users—standing out for its ultra-accessible, commission-free trading on Canadian and US stocks and ETFs, straightforward web and mobile platforms, and robust regulatory standing as an IIROC and CIPF member. With more than 8,000 equities and ETFs, plus 50+ supported cryptocurrencies, Wealthsimple caters mainly to beginner and passive investors with a visually intuitive platform, no account minimums, and integrated crypto access. As of July 2025, Wealthsimple holds a strong Trustpilot rating of 4.2 based on 1,800+ reviews, reflecting high user satisfaction with ease-of-use, transparency, and customer service, though advanced features are limited. Compared with Canadian competitors, Wealthsimple leads on simplicity, seamless user experience and digital-first features, but its higher currency conversion (1.5% unless you subscribe to Wealthsimple Plus) and lack of options, bonds, margin, or advanced order types may frustrate active or professional traders. Wealthsimple's pricing strategy and platform design make it ideal for hands-off, cost-conscious investors seeking a low-barrier entry point to stocks and crypto, positioning it as the most user-friendly and beginner-focused broker among major Canadian platforms.
According to my experience, Wealthsimple is best suited for the following types of traders:
➡️ Beginner investors: Wealthsimple’s intuitive interface, no minimum deposit, and commission-free trading on stocks and ETFs make it an ideal first platform for those new to investing.
➡️ Passive and long-term investors: The platform emphasizes simplicity and low cost, with integrated tools for long-term investing and crypto exposure, catering to users who prefer a “set-and-forget” approach.
➡️ Cost-conscious users: With $0 trading commissions, no annual fees, and transparent pricing, Wealthsimple appeals to investors focused on minimizing costs—especially those trading in CAD.
- ✅No minimum deposit required—fully accessible account opening
- ✅$0 commissions on Canadian and US stocks and ETFs
- ✅Support for TFSAs, RRSPs, RESPs, joint and business accounts
- ✅Access to over 8,000 stocks and ETFs (Canada & US), plus 50+ cryptocurrencies
- ✅Simple, modern web and mobile platforms—excellent for beginners
- ✅Fractional share trading available
- ✅Digital-first onboarding in minutes
- ✅Fully regulated (IIROC, CIPF), with robust client asset protection
- ✅Instant deposits via Interac e-Transfer, free withdrawals
- ✅Integrated crypto trading with external coin withdrawal (select assets)
- ✅No inactivity fees or withdrawal fees
- ✅Efficient, responsive customer support with email, chat, and phone callback
- ❌No advanced order types (e.g., trailing stop, OCO), and only stop-limit for crypto
- ❌No demo account or Islamic (swap-free) account options
- ❌No leverage or margin trading for retail clients
- ❌No direct access to options, bonds, forex, or CFDs
- ❌Currency conversion fee on US trades is high (1.5%) unless subscribing to Plus
- ❌Relatively high crypto trading fees (1.5–2% spread included)
- ❌No copy trading, PAMM, or API tools for automation
- ❌Crypto features are basic—staking/lending not offered
- ❌Desktop platform not available (web-based only)
- ❌Limited to Canadian residents; not suitable for international or institutional traders
Score- ✅No minimum deposit required—fully accessible account opening
- ✅$0 commissions on Canadian and US stocks and ETFs
- ✅Support for TFSAs, RRSPs, RESPs, joint and business accounts
- ✅Access to over 8,000 stocks and ETFs (Canada & US), plus 50+ cryptocurrencies
- ✅Simple, modern web and mobile platforms—excellent for beginners
- ✅Fractional share trading available
- ✅Digital-first onboarding in minutes
- ✅Fully regulated (IIROC, CIPF), with robust client asset protection
- ✅Instant deposits via Interac e-Transfer, free withdrawals
- ✅Integrated crypto trading with external coin withdrawal (select assets)
- ✅No inactivity fees or withdrawal fees
- ✅Efficient, responsive customer support with email, chat, and phone callback
My opinion on Wealthsimple
- ✅No minimum deposit required—fully accessible account opening
- ✅$0 commissions on Canadian and US stocks and ETFs
- ✅Support for TFSAs, RRSPs, RESPs, joint and business accounts
- ✅Access to over 8,000 stocks and ETFs (Canada & US), plus 50+ cryptocurrencies
- ✅Simple, modern web and mobile platforms—excellent for beginners
- ✅Fractional share trading available
- ✅Digital-first onboarding in minutes
- ✅Fully regulated (IIROC, CIPF), with robust client asset protection
- ✅Instant deposits via Interac e-Transfer, free withdrawals
- ✅Integrated crypto trading with external coin withdrawal (select assets)
- ✅No inactivity fees or withdrawal fees
- ✅Efficient, responsive customer support with email, chat, and phone callback
- ❌No advanced order types (e.g., trailing stop, OCO), and only stop-limit for crypto
- ❌No demo account or Islamic (swap-free) account options
- ❌No leverage or margin trading for retail clients
- ❌No direct access to options, bonds, forex, or CFDs
- ❌Currency conversion fee on US trades is high (1.5%) unless subscribing to Plus
- ❌Relatively high crypto trading fees (1.5–2% spread included)
- ❌No copy trading, PAMM, or API tools for automation
- ❌Crypto features are basic—staking/lending not offered
- ❌Desktop platform not available (web-based only)
- ❌Limited to Canadian residents; not suitable for international or institutional traders
Score- ✅No minimum deposit required—fully accessible account opening
- ✅$0 commissions on Canadian and US stocks and ETFs
- ✅Support for TFSAs, RRSPs, RESPs, joint and business accounts
- ✅Access to over 8,000 stocks and ETFs (Canada & US), plus 50+ cryptocurrencies
- ✅Simple, modern web and mobile platforms—excellent for beginners
- ✅Fractional share trading available
- ✅Digital-first onboarding in minutes
- ✅Fully regulated (IIROC, CIPF), with robust client asset protection
- ✅Instant deposits via Interac e-Transfer, free withdrawals
- ✅Integrated crypto trading with external coin withdrawal (select assets)
- ✅No inactivity fees or withdrawal fees
- ✅Efficient, responsive customer support with email, chat, and phone callback
Why trust Hellosafe?
I took the time to actually open and use a Wealthsimple account so I could answer the questions real Canadians have about the platform. I tested both the web and mobile apps, placed trades across stocks, ETFs, and crypto, and played around with features like fractional shares and the auto-investing robo-advisor. I also checked out fund transfers, withdrawals, and support options to see how the whole experience fits together.
What stood out for me is how easy Wealthsimple makes it to start investing, especially for beginners—no minimum deposit, quick account setup, and commission-free trading for stocks and ETFs. On the downside, the 1.5% currency conversion fee on US trades adds up, and active traders might miss advanced order types, options, or more robust analytics tools. Compared to other regulated Canadian brokers, Wealthsimple is one of the most accessible and simple, but it’s not as flexible or comprehensive if you need access to bonds, options, or forex.
This assessment is totally based on my first-hand experience and direct comparison with other regulated platforms in Canada. My goal is to give you a clear, honest view of Wealthsimple’s reliability, pros, cons, and whether it’s likely to suit what you actually want from a trading platform.
Wealthsimple at a glance
| Fonctionnalité | Détail |
|---|---|
| 💰 Dépôt minimum | No minimum deposit |
| 🛡️ Régulation | IIROC member, CIPF protection, registered crypto dealer in Canada |
| 🪙 Licence crypto | Registered restricted dealer for crypto trading in Canada |
| 📄 Enregistrement FSMA | Not registered with FSMA (Belgium); Canadian regulation only |
| 📈 Actifs disponibles | 8,000+ stocks & ETFs (Canada/US), 50+ cryptocurrencies |
| 📊 Plateformes de trading | Web platform, Mobile app (iOS/Android) |
| 🛠 Outils de trading | Fractional shares, auto-investing (robo-advisor), basic charting, portfolio tracking, real-time quotes (Plus) |
| 🎮 Compte démo | Not available |
| ☪️ Compte islamique | Not available |
| 📝 Ordres clés | Market, limit, stop-limit (crypto only); no advanced/conditional orders |
| ⚖️ Effet de levier | Not available (no margin or leveraged trading) |
| 💸 Frais | $0 commission stocks/ETFs, 1.5% FX conversion fee (0.5% with Plus), 1.5–2% crypto fee, 0.5%/year for robo |
| 📞 Support client | Email, in-app chat, phone (callback), Mon–Fri 8:00 am–8:00 pm ET |
| 🌟 Avis Trustpilot | 4.2 / 5 (1,800+ reviews, as of July 2025) |
Security & Regulation
Wealthsimple stands out for its strong regulatory framework, insured client accounts, and accessible platform design. As an IIROC and CIPF member, Wealthsimple operates under strict Canadian oversight, ensuring both investor protection and operational transparency. Its crypto division is registered as a restricted dealer with provincial regulators, offering investors a greater degree of security than most offshore crypto platforms.
All client assets are held in segregated accounts, with traditional investments covered up to $1 million by CIPF in case of broker insolvency. For crypto holdings, Wealthsimple employs a custodial model and permits external withdrawals for select coins, but does not provide proof-of-reserves or independent cold storage audit disclosures, which limits the highest level of crypto security.
Risk management tools are appropriate for its simplified platform: two-factor authentication is required, deposits and withdrawals are secure, but advanced order types and margin/leverage are not available. This limitation is partly offset by the platform’s commitment to zero-commission trading and responsive support, making it ideal for beginners or those prioritizing ease of use.
Wealthsimple enjoys a positive reputation among Canadian retail investors, frequently praised for its intuitive interface and transparent fee structure. The absence of complex products makes it a reliable choice for most, though sophisticated traders may find the feature set basic.
| Indicator | Description | Evaluation |
|---|---|---|
| Regulatory compliance | IIROC, CIPF; crypto arm registered as restricted dealer; follows strict Canadian standards | 5/5 |
| Fund security | CIPF-insured for traditional assets, segregated accounts; custodial crypto, but lacks full proof-of-reserves | 4/5 |
| Risk management tools | 2FA, basic limits and controls, no margin or advanced order types | 4/5 |
| Notoriety and coverage | Strong local reputation, 4.2/5 Trustpilot, user-friendly and accessible | 5/5 |
Fees, Spreads & Commissions
Wealthsimple’s fee structure distinguishes itself with a true $0 commission model for stocks and ETFs, alongside no account opening or maintenance charges. For everyday stock and ETF trades—especially in Canadian dollars—this places Wealthsimple among the most accessible and cost-effective platforms in Canada. However, US-listed security trades can become expensive due to Wealthsimple’s standard 1.5% currency conversion fee, which is significantly higher than what’s charged by traditional bank-owned brokers and specialty platforms. For frequent US equity traders, Wealthsimple Plus offers a reduced conversion fee (0.5% for $10/month), making cross-border investing more competitive.
The broker’s approach to cryptocurrency is straightforward but comes with a 1.5–2% transaction fee (embedded in spread), which is higher than most global crypto exchanges but typical for platforms integrating both investing and trading under a single Canadian regulatory umbrella. I view this all-in-one simplicity as valuable for beginners, though advanced crypto or frequent US equity traders will find better value elsewhere, especially given the lack of advanced order types, margin, or direct access to options and bonds.
Hidden costs are minimal with Wealthsimple: there’s no inactivity fee, withdrawal fee, or deposit charge, and the commission-free equity model is transparent. The main cost centers are the management fee on robo-allocated portfolios and FX fees on US trades. Compared to competitors, Wealthsimple’s pricing is ideal for passive, long-term CAD investors, but users must pay close attention to forex conversion and embedded crypto spreads if active in those markets.
What are the account-related fees?
| Fee Type | Conditions at Wealthsimple | Market Average |
|---|---|---|
| Opening fee | $0 | $0–$100 |
| Maintenance fee | $0 (Robo: 0.5%/yr; Plus: $10/mo) | $0–$200 (plus 0.3–1% mgmt) |
| Withdrawal fee | $0 | $0–$50 |
| Inactivity fee | $0 | $0–$25/mo |
| Currency conversion fee | 1.5% (0.5% with Plus) | 1.0% (banks) / 0.5% (brokers/exchanges) |
Trader Tip
If you make frequent US trades, consider activating Wealthsimple Plus to cut your FX fees by two-thirds. For strictly CAD investing, the standard account generally remains the lowest-cost option.
What are the fees on stocks and ETFs?
Stock and ETF trading at Wealthsimple is truly commission-free for both Canadian and US-listed securities, which is a strong differentiator compared to nearly all legacy competitors. The only systematic cost is the currency conversion when buying or selling US assets—at 1.5% per side (or 0.5% with Plus). There are no custody, spread, or overnight fees, and UK stamp duty tax is not applicable.
| Fee Type | Conditions at Wealthsimple | Market Average |
|---|---|---|
| Commission | $0 | $5–$10/trade |
| Spread fee | $0 (market spread only) | $0–$0.05/share |
| Overnight fee | $0 | $0 |
| Custody fee | $0 | $0–$50/year |
| UK stamp duty tax | $0 | 0.5% (if UK) |
What are the fees on cryptocurrencies?
Cryptocurrency trading with Wealthsimple is simple but not low-cost: a 1.5–2% fee is applied to both buy and sell transactions, included in the quoted price (spread). There are no overnight or custody fees, but users transferring crypto out pay a blockchain/network fee. These costs are higher than on most stand-alone crypto exchanges but typical for regulated platforms focused on security and simplicity. There are no margin or advanced trading features.
| Fee Type | Conditions at Wealthsimple | Market Average (crypto or CFD brokers) |
|---|---|---|
| Buy/sell fees | 1.5–2% per transaction (spread-included) | 0.10–1.00% (+spread) |
| Spread fees | Included in above (1.5%–2% total) | 0.20%–1.00% |
| Overnight fees | $0 | 0%–0.05%/day (CFDs) |
| Custody fees | $0 | $0–$100/year |
| Transfer fees | Network fee only (varies by crypto) | Network fee / $5–$25 (some brokers) |
Assets & Markets
Wealthsimple’s asset offering is designed with convenience and simplicity at its core, making it appealing for Canadian investors who value ease of use and broad market access without steep fees. I particularly like the commission-free trading on both Canadian and US-listed stocks and ETFs, as it reduces barriers for frequent or small trades. The availability of all major account types, including TFSA, RRSP, RESP, and joint as well as business accounts, makes Wealthsimple flexible enough to serve both personal and family investing needs.
The platform excels at lowering entry barriers: users can start investing with no minimum deposit and buy fractional shares of many US and Canadian stocks, opening up diversified portfolios to even the smallest accounts. ETFs are similarly accessible, and Wealthsimple’s managed portfolios appeal to those seeking automated investing with features such as tax-loss harvesting and auto-rebalancing.
Crypto integration is a notable highlight, with over 50 coins supported for direct spot trading. Functionality like external withdrawals for select coins sets Wealthsimple apart from some competitors who limit crypto to closed ecosystems. However, crypto spreads and trading fees (1.5–2%) are meaningfully higher than pure-play Canadian crypto platforms, and there are currently no options for crypto staking or DeFi features. Advanced traders may also find the absence of margin, lending, or derivatives restrictive.
One key limitation is the lack of options trading, direct access to international equities outside of North America, and the inability to trade in spot currencies (forex), precious metals, or commodities outside of ETF wrappers. Bonds and GICs are missing from DIY trading but can be accessed via managed portfolios. The absence of real-time market depth, conditional orders for stocks, and any derivatives means Wealthsimple is best suited to passive or beginner investors rather than active or professional traders.
| Asset Class | Type | Number at Wealthsimple | Market Average | Example Assets |
|---|---|---|---|---|
| Stocks | Spot | 3,000+ | 3,000–5,000 | Shopify, RBC, Tesla, Apple |
| ETFs | Spot | 1,000+ | 500–2,000 | iShares S&P/TSX 60, VOO, XIC |
| Cryptocurrencies | Spot | 50+ | 30–200 | Bitcoin, Ethereum, Solana |
| Currencies (Forex) | N/A | 0 | 40–80 | N/A |
| Commodities | ETFs | Indirect (via ETFs) | 20–100 | GLD, iShares Gold Bullion ETF |
| Indices | ETFs | Indirect (via ETFs) | 20–100 | VOO (S&P 500 ETF), XIC (TSX ETF) |
| Bonds | Robo | Indirect (managed only) | 10–50 (direct) | Canadian government bonds (via ETF) |
| Stablecoins | N/A | 0 | 2–10 | N/A |
| NFTs | N/A | 0 | 0–10 | N/A |
| Other derivatives | N/A | 0 | 5–200 | N/A |
Trading Tools & Apps
Wealthsimple delivers one of the cleanest, most approachable trading platforms on the Canadian market. Both the web and mobile interfaces are exceptionally intuitive, making account onboarding, asset searches, and portfolio tracking effortless. The design favors clear navigation, uncluttered menus, and useful visuals, which ensures a low learning curve and maintains a sense of control for newer investors. All key features—stock and ETF purchases, crypto trades, price alerts, and account funding—are presented in a few well-organized screens.
The simplicity is intentional and extends to the feature set. I appreciate the instant, commission-free trading of Canadian and US equities, as well as the straightforward crypto integration without the need for a second app or login. Portfolio overviews and price charts are attractively displayed, but technical analysis tools are extremely basic: charts are simple line and candlestick formats, with no built-in indicators, overlays, or time-based studies. Advanced trading tools like MetaTrader 4/5, TradingView, or custom scripting are not offered, and automation features (copy trading, bots, or APIs) are not supported.
Order execution options are limited to market and limit orders for stocks and ETFs, with stop-limit provided on crypto only. There is no support for conditional orders such as OCO or trailing stops. Partial fills, price-improvement mechanisms, and instant activity alerts are all handled competently in-app. Asset search is quick, with the ability to filter by market, sector, or recent trends. Stock and ETF purchases are spot only—no margin, leverage, or CFDs are offered. The crypto platform covers over 50 assets, with select coins supporting external withdrawal, but staking, lending, and earn features are not available.
For most users, the lack of complexity is the platform’s greatest strength. However, more advanced investors will quickly encounter limitations in charting, order types, and asset classes. Long-term Wealthsimple’s platform remains best suited for beginners, those seeking a 100% digital solution, and anyone valuing a seamless mobile-first experience in Canada.
| Feature | Verified Details |
|---|---|
| Mobile app (MetaTrader, etc.) | Proprietary Wealthsimple app for iOS/Android; no MetaTrader or TradingView integration |
| Usability | Extremely fluid, intuitive, minimal learning curve |
| Compatible software | Proprietary web/mobile only; no support for third-party integrations |
| Order types | Market, limit (all assets); stop-limit (crypto only); no trailing/OCO |
| Charting and technical analysis | Basic charts (line, candlestick), no built-in technical indicators |
| Auto trading / Automated strategies | Not available; no bots, copy trading, or APIs |
| Algorithmic trading | Not supported; no scripting, coding, or AI functionality |
| Negative balance protection | Not applicable; no margin or leveraged trading |
| Trading signals | Not available; no external signals or third-party integrations |
| Asset search and filters | Strong: by name, sector, popularity, or asset class |
| Spot stock purchase | Yes; direct spot stocks and ETFs, no CFDs or margin |
| Staking and earn | Not available; no lending, staking, or earn on crypto |
Wealthsimple Account Tip
For maximum security and efficiency, always enable two-factor authentication (2FA) in your Wealthsimple account settings and customize price alerts for your favourite equities and cryptocurrencies. Use the mobile app for quick trades, but switch to the web platform for detailed portfolio analysis or managing multiple account types.
Account Opening and Deposits
Account opening
Creating an account with Wealthsimple is a quick process designed for Canadian residents. To begin, complete the online registration form with your personal and financial details. Next, verify your identity by submitting a government-issued photo ID and your Social Insurance Number (SIN), along with proof of address, such as a recent utility bill or bank statement. As part of regulatory requirements, you will answer a short questionnaire about your investment goals and financial experience. Once you upload your documents, Wealthsimple will review your application—this usually takes between a few minutes and one business day. You’ll receive a confirmation email once your account is approved and ready to use.
Good to know
Having correct and up-to-date identification helps avoid delays. During periods of high demand or if documents are unclear, approval may take longer.
| Item | Details |
|---|---|
| Opening procedure | Online registration form, identity verification, investment questionnaire, document upload |
| Validation time | Typically instant to 1 business day |
| Accepted deposit methods | Bank transfer (EFT), Interac e-Transfer, wire transfer |
| Minimum required deposit | $0 (no minimum for any account type) |
| Required documents | Government-issued ID, SIN, proof of address (utility bill, bank statement) |
| Practical tip | Use clear photos or scans of your documents, and double-check all information entered |
Deposits and withdrawals on Wealthsimple
Wealthsimple supports fast and convenient deposits and withdrawals for Canadian accounts. You can fund your account by bank transfer (EFT), Interac e-Transfer (instant for small amounts), or bank wire. All deposits must come from accounts in your name and are generally credited within 1–3 business days, except Interac e-Transfers which are often instant. Withdrawals are typically made back to your linked bank account via EFT or wire transfer, with processing times ranging from one to three business days. There are no Wealthsimple fees for deposits or withdrawals, but crypto withdrawals (supported for select coins) require a small network fee. Wealthsimple’s crypto accounts use an integrated custodial wallet, which lets you transfer supported cryptocurrencies to your own wallet if you wish, but does not enable fiat-to-crypto conversion outside the platform.
Good to know
Always confirm that your bank account is correctly linked to avoid withdrawal delays. For crypto withdrawals, network fees can vary, so it’s wise to review these before submitting your request.
| Payment method | Accepted currencies | Minimum amount | Processing time | Possible fees |
|---|---|---|---|---|
| Credit card | Not supported | – | – | – |
| Bank transfer (EFT) | CAD | $0 | 1–3 business days | None |
| Interac e-Transfer | CAD | $0 | Instant (small deposits) | None |
| Wire transfer | CAD | $0 | 1–3 business days | None |
| Stablecoins/cryptos | Supported coins only | No fixed min | Network-dependent | Network fee on withdrawal |
| Other local options | Not available | – | – | – |
Account Types
Wealthsimple is a Canadian hybrid platform combining commission-free stock and ETF investing with easy-to-access crypto trading. It is IIROC regulated and CIPF protected, making it a safe choice for both new and experienced investors seeking a straightforward online experience. Wealthsimple’s core strength lies in simplicity, full tax-advantaged account support (TFSA, RRSP, RESP, etc.), and direct access to over 50 cryptocurrencies. While lacking CFD/Forex features, advanced order types, cold storage, and staking, its robust regulatory protection and no-minimum policy appeal to Canadians seeking an all-in-one investing and crypto solution.
| Account type | Available (✅/❌) | Main features |
|---|---|---|
| Demo account | ❌ | Not available; no virtual trading mode |
| Standard account | ✅ | Personal (taxable) trading and investing; $0 minimum; stocks, ETFs, crypto |
| Raw ECN account | ❌ | Not supported; no ECN or direct market forex |
| Islamic account | ❌ | Not supported; no swap-free or halal account option |
| Professional account | ✅ | Business, joint, and institutional accounts available |
| CFD account | ❌ | CFDs not offered; trading is direct for stocks and via custodial model for crypto |
| Classic securities account | ✅ | Support for stocks, ETFs, managed portfolios, fractional shares |
| Staking/earn account | ❌ | Not available |
| Cold storage account | ❌ | Crypto custody is in-platform only; no external cold storage |
| Tax-advantaged account | ✅ | Supports TFSA, RRSP, RESP, and other Canadian registered accounts |
| Accepted base currencies | CAD | All accounts are denominated in CAD (USD trades incur a conversion fee; Plus plan offers reduced fee) |
Wealthsimple Trading Tips
If you trade US stocks frequently, consider subscribing to Wealthsimple Plus for a reduced currency conversion fee. For crypto, enable two-factor authentication for maximum security. Remember, Wealthsimple is ideal for simple, commission-free investing but doesn’t offer leverage, CFDs, or advanced forex tools.
How does Wealthsimple compare to competitors?
| Feature | Wealthsimple | National Bank Direct Brokerage (NBDB) | Questrade | Qtrade Direct Investing |
|---|---|---|---|---|
| Minimum deposit | $0 | $0 ($1,000 recommended) | $0 | |
| Number of instruments | Stocks, ETFs, options, mutual funds, bonds, GICs | Stocks, ETFs, options, mutual funds, bonds, GICs, forex, CFDs | Stocks, ETFs, options, mutual funds, bonds, GICs | |
| Spreads (examples) | $0 commission stocks/ETFs, options $1.25/contract, currency conversion fees apply | Stocks: 1¢/share ($4.95–$9.95 min/max), ETFs free to buy, forex from 0.8 pips | Stocks/ETFs: $8.75/trade; 100+ commission-free ETFs | |
| Trading platforms | Web, Mobile App | Web, Mobile App, IQ Edge (Desktop) | Web, Mobile App | |
| Regulation | IIROC, CIPF member | IIROC, CIPF member | IIROC, CIPF member | |
| Demo account | ❌ | ✅ | ❌ | |
| Copy trading | ❌ | ❌ | ❌ | |
| Read the review | Read the review National Bank Direct Brokerage | Read the review Questrade | Read the review Qtrade Direct Investing |
Customer reviews
Wealthsimple has a Trustpilot rating of 4.2 out of 5, based on over 1,800 reviews as of July 2025. Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :
- Easy and fast account opening process
- $0 commissions on stock and ETF trades
- User-friendly and intuitive mobile and web platforms
- Access to a wide selection of Canadian and US stocks, ETFs, and cryptocurrencies
- Fractional share investing and auto-investing features
- Responsive and helpful customer support
En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :
- High currency conversion fees (1.5% standard, 0.5% with Plus) on US trades
- Crypto transaction fees are higher compared to some competitors
- Limited order types and basic research tools
- No demo account to test the platform
- No margin, options, or bond trading for active investors
Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :
- A.E. – 27/06/2025 : “Easy to use, great for beginners, and love the $0 commissions on stocks and ETFs.”
- R.P. – 05/05/2025 : “Customer service is responsive, but crypto fees are a bit high compared to other platforms.”
- C.L. – 15/04/2025 : “The app is intuitive and makes investing simple, but I wish they offered more advanced order types.”
FAQ
Is Wealthsimple regulated in CA?
Yes, Wealthsimple is regulated in Canada. Wealthsimple Investments Inc. is a member of IIROC, which oversees investor protection and compliance, and also a member of the Canadian Investor Protection Fund (CIPF), providing coverage on eligible investment accounts. Wealthsimple Digital Assets Inc. is registered as a restricted dealer for crypto services.
What is the minimum deposit on Wealthsimple?
There is no minimum deposit required to open any account with Wealthsimple. Canadian users can start investing with any amount they choose, making the platform accessible to beginners and those with smaller balances.
Does Wealthsimple offer a welcome bonus?
Wealthsimple does not generally offer a traditional welcome bonus for new accounts, but it occasionally runs temporary promotions or referral programs. These are not guaranteed and typically change throughout the year based on marketing campaigns.
How does leverage work on Wealthsimple?
Wealthsimple does not provide leverage or margin trading for any of its accounts. All trades must be fully funded by the user’s available cash balance, and leveraged products like CFDs and options are not part of the platform’s offering.
How does Wealthsimple make money?
Wealthsimple earns revenue primarily through management fees on robo-advisor portfolios, currency conversion fees on US equity trades, and transaction fees on crypto trades. There are no commissions on stock or ETF trades, but a typical fee of 1.5–2% applies to crypto transactions.
Who is behind Wealthsimple?
Wealthsimple is a Canadian fintech company founded in 2014 by Michael Katchen and headquartered in Toronto. It is backed by Power Corporation of Canada and has grown rapidly as a pioneer in digital investing services for Canadians.
When was Wealthsimple launched?
Wealthsimple was founded and launched in 2014. It quickly became known as one of Canada’s first robo-advisors and has since expanded to direct investing, crypto trading, and financial management tools.
Does Wealthsimple offer copy trading or social trading?
No, Wealthsimple does not offer copy trading, social trading, or similar features. All investment decisions and trades are made solely by each account holder or, in the case of managed portfolios, by Wealthsimple’s automated investment algorithms.
How can I contact Wealthsimple’s customer service?
You can reach Wealthsimple’s customer service through in-app chat, email, or by requesting a callback. Support is available Monday through Friday from 8:00 am to 8:00 pm Eastern Time, with priority service for Wealthsimple Plus clients.
Does Wealthsimple offer any promotions or referral programs?
Wealthsimple periodically runs referral programs and special promotions, such as cash bonuses for bringing in friends or meeting certain deposit thresholds. These offers vary over time, so it’s a good idea to check their official website or app for the latest details.
How does staking or earn work on Wealthsimple?
Wealthsimple does not offer staking, interest-earning, or lending features for cryptocurrencies. Its crypto platform is focused solely on spot trading and safe storage of digital assets for Canadian users.
Does Wealthsimple provide insurance or proof-of-reserve for customer funds?
Wealthsimple investment accounts are protected by CIPF up to set limits, safeguarding client assets in case of insolvency. For crypto assets, funds are held in trust with qualified custodians, but Wealthsimple does not publish proof-of-reserve attestations or provide insurance specifically for crypto holdings.
Is Wealthsimple regulated in CA?
Yes, Wealthsimple is regulated in Canada. Wealthsimple Investments Inc. is a member of IIROC, which oversees investor protection and compliance, and also a member of the Canadian Investor Protection Fund (CIPF), providing coverage on eligible investment accounts. Wealthsimple Digital Assets Inc. is registered as a restricted dealer for crypto services.
What is the minimum deposit on Wealthsimple?
There is no minimum deposit required to open any account with Wealthsimple. Canadian users can start investing with any amount they choose, making the platform accessible to beginners and those with smaller balances.
Does Wealthsimple offer a welcome bonus?
Wealthsimple does not generally offer a traditional welcome bonus for new accounts, but it occasionally runs temporary promotions or referral programs. These are not guaranteed and typically change throughout the year based on marketing campaigns.
How does leverage work on Wealthsimple?
Wealthsimple does not provide leverage or margin trading for any of its accounts. All trades must be fully funded by the user’s available cash balance, and leveraged products like CFDs and options are not part of the platform’s offering.
How does Wealthsimple make money?
Wealthsimple earns revenue primarily through management fees on robo-advisor portfolios, currency conversion fees on US equity trades, and transaction fees on crypto trades. There are no commissions on stock or ETF trades, but a typical fee of 1.5–2% applies to crypto transactions.
Who is behind Wealthsimple?
Wealthsimple is a Canadian fintech company founded in 2014 by Michael Katchen and headquartered in Toronto. It is backed by Power Corporation of Canada and has grown rapidly as a pioneer in digital investing services for Canadians.
When was Wealthsimple launched?
Wealthsimple was founded and launched in 2014. It quickly became known as one of Canada’s first robo-advisors and has since expanded to direct investing, crypto trading, and financial management tools.
Does Wealthsimple offer copy trading or social trading?
No, Wealthsimple does not offer copy trading, social trading, or similar features. All investment decisions and trades are made solely by each account holder or, in the case of managed portfolios, by Wealthsimple’s automated investment algorithms.
How can I contact Wealthsimple’s customer service?
You can reach Wealthsimple’s customer service through in-app chat, email, or by requesting a callback. Support is available Monday through Friday from 8:00 am to 8:00 pm Eastern Time, with priority service for Wealthsimple Plus clients.
Does Wealthsimple offer any promotions or referral programs?
Wealthsimple periodically runs referral programs and special promotions, such as cash bonuses for bringing in friends or meeting certain deposit thresholds. These offers vary over time, so it’s a good idea to check their official website or app for the latest details.
How does staking or earn work on Wealthsimple?
Wealthsimple does not offer staking, interest-earning, or lending features for cryptocurrencies. Its crypto platform is focused solely on spot trading and safe storage of digital assets for Canadian users.
Does Wealthsimple provide insurance or proof-of-reserve for customer funds?
Wealthsimple investment accounts are protected by CIPF up to set limits, safeguarding client assets in case of insolvency. For crypto assets, funds are held in trust with qualified custodians, but Wealthsimple does not publish proof-of-reserve attestations or provide insurance specifically for crypto holdings.
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