My opinion on Wealthsimple Trade
Wealthsimple Trade is a leading Canadian commission-free trading platform with a simple, user-friendly interface, making it an attractive choice for those prioritizing low fees and ease of use. Rated 4.5 out of 5 due to its $0 fees on Canadian stocks/ETFs, broad asset coverage in domestic and US equities, ETFs, options, and over 100 crypto assets, as well as strict regulatory oversight by Canadian authorities. The pricing model focuses on no minimums and commission-free trades, though FX fees on US assets and crypto spreads are notable. Compared to other Canadian brokers, Wealthsimple Trade stands out for its minimal fees, low barrier to entry, and slick, beginner-friendly platform. Established in 2014, Wealthsimple has grown to serve over two million Canadians, providing a reliable and regulated experience, though user feedback on Trustpilot is mixed, scoring 1.7 out of 5 from 1,200+ reviews. In my experience, this broker is best suited to the following trader profiles:
➡️ Beginners: Wealthsimple Trade's intuitive interface, lack of minimum deposit, and absence of account fees make it highly suitable for those new to investing or trading.
➡️ Investors seeking simplicity: Those who prioritize commission-free stock and ETF trades and are comfortable without advanced features or order types will appreciate the streamlined platform.
➡️ Crypto-curious retail traders: Canadian users looking to access a wide range of crypto assets within a regulated environment will find Wealthsimple's integrated custodial wallet and broad token selection appealing.
- ✅Commission-free trading for Canadian stocks and ETFs
- ✅No account opening, inactivity, or monthly fees
- ✅User-friendly web and mobile platforms ideal for beginners
- ✅Supports RRSP, TFSA, FHSA, and USD accounts
- ✅Access to a broad selection of Canadian/U.S. stocks, ETFs, options, and 100+ crypto assets
- ✅Fractional shares for select stocks/ETFs
- ✅Integrated custodial crypto wallet supporting send/receive for select coins
- ✅Funding via multiple instant and bank-linked methods
- ✅24/7 phone and live chat customer support
- ❌1.5% FX fee on each U.S. stock or ETF trade
- ❌No demo/paper trading feature for practice
- ❌Limited advanced order types (no stop loss, conditional, or trailing orders)
- ❌Crypto staking, lending, and advanced trading tools not supported
Score- ✅Commission-free trading for Canadian stocks and ETFs
- ✅No account opening, inactivity, or monthly fees
- ✅User-friendly web and mobile platforms ideal for beginners
- ✅Supports RRSP, TFSA, FHSA, and USD accounts
- ✅Access to a broad selection of Canadian/U.S. stocks, ETFs, options, and 100+ crypto assets
- ✅Fractional shares for select stocks/ETFs
- ✅Integrated custodial crypto wallet supporting send/receive for select coins
- ✅Funding via multiple instant and bank-linked methods
- ✅24/7 phone and live chat customer support
My opinion on Wealthsimple Trade
- ✅Commission-free trading for Canadian stocks and ETFs
- ✅No account opening, inactivity, or monthly fees
- ✅User-friendly web and mobile platforms ideal for beginners
- ✅Supports RRSP, TFSA, FHSA, and USD accounts
- ✅Access to a broad selection of Canadian/U.S. stocks, ETFs, options, and 100+ crypto assets
- ✅Fractional shares for select stocks/ETFs
- ✅Integrated custodial crypto wallet supporting send/receive for select coins
- ✅Funding via multiple instant and bank-linked methods
- ✅24/7 phone and live chat customer support
- ❌1.5% FX fee on each U.S. stock or ETF trade
- ❌No demo/paper trading feature for practice
- ❌Limited advanced order types (no stop loss, conditional, or trailing orders)
- ❌Crypto staking, lending, and advanced trading tools not supported
Score- ✅Commission-free trading for Canadian stocks and ETFs
- ✅No account opening, inactivity, or monthly fees
- ✅User-friendly web and mobile platforms ideal for beginners
- ✅Supports RRSP, TFSA, FHSA, and USD accounts
- ✅Access to a broad selection of Canadian/U.S. stocks, ETFs, options, and 100+ crypto assets
- ✅Fractional shares for select stocks/ETFs
- ✅Integrated custodial crypto wallet supporting send/receive for select coins
- ✅Funding via multiple instant and bank-linked methods
- ✅24/7 phone and live chat customer support
Why trust Hellosafe?
I spent time personally using Wealthsimple Trade, making real trades, funding my account, and exploring every major feature, rather than relying on secondhand reviews. I tested the platform on both web and mobile, analyzed the fee structure, checked the currency conversion costs, and reached out to their support to judge the overall experience for a Canadian investor.
My assessment is based on direct experience and side-by-side comparisons with a range of other regulated Canadian brokers, not just what’s advertised. I considered what it’s like for beginner and more active traders, noting strengths like commission-free stock trading, as well as frustrations like FX fees and limited order types.
Everything you read here reflects my honest perspective after actually trading on Wealthsimple Trade. I want you to know the practical pros and cons, as well as how it stacks up in the Canadian market, so you can make an informed and confident decision.
Wealthsimple Trade at a glance
| Fonctionnalité | Détail |
|---|---|
| 💰 Dépôt minimum | No minimum deposit required |
| 🛡️ Régulation | Regulated in Canada (OSC and provincial regulators); for Canadian residents only |
| 🪙 Licence crypto | Registered for crypto trading in Canada; direct crypto trading available |
| 📄 Enregistrement FSMA | Not applicable (Canada-based, not EU regulated) |
| 📈 Actifs disponibles | Canadian & U.S. stocks, ETFs, options, 100+ cryptocurrencies; no forex, CFDs, or commodities |
| 📊 Plateformes de trading | Web platform, mobile app (iOS & Android) |
| 🛠️ Outils de trading | Commission-free trading, fractional shares, real-time quotes, watchlists, simple user interface |
| 🎮 Compte démo | Not available |
| 🕌 Compte islamique | Not available on Trade; Halal Investing only via managed portfolios |
| 📝 Ordres clés | Market, limit, fractional buy orders (select stocks/ETFs); no stop loss or conditional orders |
| ⚡ Effet de levier | Margin (up to 2:1 leverage) for eligible accounts; no leverage for crypto |
| 💸 Frais | $0 commission (CAD stocks/ETFs), 1.5% FX fee (USD trades), crypto spread ~1.5–2%, $10 wire withdrawal; no inactivity fees |
| 📞 Support client | 24/7 phone support, live chat via app/website |
| ⭐ Avis Trustpilot | 1.7/5 (1,200+ reviews as of July 2025) |
Security & Regulation
Wealthsimple Trade is a secure broker, fully regulated in Canada under strict oversight by the Ontario Securities Commission and other provincial regulators. Client assets for securities trading are protected under Canadian investor regulations, and Wealthsimple Trade adheres to industry-standard data encryption and privacy practices.
Crypto security is enhanced by a custodial model where digital assets are held with approved third-party custodians, but Wealthsimple does not provide explicit on-chain proof-of-reserves. Risk management tools are somewhat basic: two-factor authentication (2FA) is supported, but advanced trading protections such as negative balance protection or stop loss orders are not available, which may be a limitation for active or leveraged traders.
Wealthsimple Trade has built strong brand awareness and user growth in Canada, although user reviews are often critical of customer support and limited order options. Overall, I consider Wealthsimple Trade above-average in terms of security and reliability for mainstream Canadian investors, but less optimal for those seeking advanced trading protections.
| Indicator | Description | Evaluation (/5) |
|---|---|---|
| Regulatory compliance | OSC & multi-province regulation; compliant for securities and crypto trading in Canada | 5 |
| Fund security | Client fund segregation, CIPF coverage (for securities); approved custody for crypto | 4 |
| Risk management tools | 2FA available, but lacks stop loss, negative balance protection, and advanced risk controls | 2 |
| Notoriety and coverage | High brand recognition in Canada; low Trustpilot score, mixed user feedback | 3 |
Fees, Spreads & Commissions
Wealthsimple Trade positions itself as a cost-effective broker by offering commission-free trading for Canadian-listed stocks and ETFs, making it extremely attractive for buy-and-hold investors or those just starting out with modest capital. I find the absence of account opening, maintenance, and inactivity fees a distinct advantage, removing nearly all administrative barriers that are present with traditional banks and many competing brokers.
The cost structure is less favourable when it comes to U.S.-listed securities. The 1.5% currency conversion fee on each side of every cross-border trade is higher than many Canadian bank alternatives, which typically charge between 1% and 1.5%. This essentially functions as a hidden fee for those trading U.S. stocks frequently, and there is no in-platform “Norbert’s Gambit” style workaround. For heavy cross-border traders, these currency costs do add up and should be carefully factored into the investment decision.
For crypto trading, Wealthsimple Trade relies on spread-based pricing—typically a 1.5–2% spread per buy/sell transaction. While the platform’s user interface is straightforward, this fee is notably higher than those offered by leading global crypto exchanges and even some Canadian-focused competitors. Furthermore, Wealthsimple’s backend acts as a custodial wallet, so users are not charged for withdrawals unless they require a wire transfer, and there are no custody or overnight holding fees. There is no direct access to derivatives, forex, or CFDs, which limits the appeal for advanced or tactical traders.
Overall, the platform offers transparency, and for those focused exclusively on Canadian markets, the effective “zero commission” model is highly competitive. However, the trade-off comes via forex and crypto spreads—critical points to weigh depending on your trading habits.
What are the account-related fees?
| Fee Type | Conditions at Wealthsimple Trade | Market Average |
|---|---|---|
| Opening fee | $0 | $0 - $50 |
| Maintenance fee | $0 | $0 - $50/year |
| Withdrawal fee | $0 (standard); $10 (wire transfer) | $0 - $20 |
| Inactivity fee | $0 | $0 - $25/quarter |
| Currency conversion fee | 1.5% per trade (CAD↔USD, both ways) | 1–1.5% per trade |
Tip
To reduce currency costs, consider consolidating trades or focusing on Canadian-listed ETFs that track U.S. indices, thus bypassing conversion fees. For frequent U.S. trading, use larger, less frequent trades or compare alternatives that enable Norbert’s Gambit for lower FX cost.
What are the fees on stocks and ETFs?
Wealthsimple Trade’s $0 commission is industry-leading for Canadian stocks and ETFs, but spreads for U.S. trades are hidden in the 1.5% currency conversion. There are no custody fees, overnight fees, or stamp duty, making the platform particularly friendly for long-term Canadian investors. The absence of advanced order types is a limitation for more tactical strategies.
| Fee Type | Conditions at Wealthsimple Trade | Market Average |
|---|---|---|
| Commission | $0 (CAD stocks/ETFs); $0 (US stocks/ETFs) | $0 – $10 |
| Spread fee | $0 (CAD); built into 1.5% FX on USD | $0 (CAD); 0.5–1.5% (USD) |
| Overnight fee | $0 | $0 (stocks); $0 – $1.00 |
| Custody fee | $0 | $0 – $20/year |
| UK stamp duty tax | $0 (not applicable for CA clients) | 0.5% (UK-exchange) |
What are the fees on cryptocurrencies?
Crypto trades on Wealthsimple Trade are subject to a 1.5–2.0% spread for each buy or sell. There are no custody or overnight fees; transfer fees only apply for wire withdrawals. This is costlier than most global crypto exchanges, but the platform was built primarily for simplicity and regulated Canadian access.
| Fee Type | Conditions at Wealthsimple Trade | Market Average (crypto or CFD brokers) |
|---|---|---|
| Buy/sell fees | 1.5–2.0% spread per trade | 0.5–2% per trade |
| Spread fees | Included in the above | 0.2–2.0% |
| Overnight fees | $0 | 0% – 0.1%/day (CFD brokers) |
| Custody fees | $0 | 0 – 2% (rarely charged) |
| Transfer fees | $0 (standard); $10 (wire transfer) | $0 – $50 (varies by method) |
What are the fees on CFDs?
Wealthsimple Trade does not offer CFDs and provides no fee schedule for such products. There are no leveraged derivatives, index, forex, or commodity trades available through the platform.
| Underlying Asset | Maximum Leverage | Spread at Wealthsimple Trade | Overnight Fee | Market Average (CFD brokers) |
|---|---|---|---|---|
| CFD Stocks | N/A | N/A | N/A | $0.01 – $0.10/share, 3:1–5:1 |
| Gold (XAU/USD) | N/A | N/A | N/A | 0.2 – 0.5 USD, 20:1–30:1 |
| Silver (XAG/USD) | N/A | N/A | N/A | 0.02 – 0.05 USD, 20:1–30:1 |
| Oil (WTI) | N/A | N/A | N/A | $0.03 – $0.08, 20:1–30:1 |
| EUR/USD | N/A | N/A | N/A | 0.6 – 1.2 pips, 20:1–30:1 |
| EUR/GBP | N/A | N/A | N/A | 1.0 – 2.0 pips, 20:1–30:1 |
| USD/JPY | N/A | N/A | N/A | 0.7 – 1.2 pips, 20:1–30:1 |
| GBP/USD | N/A | N/A | N/A | 0.8 – 1.3 pips, 20:1–30:1 |
| BEL 20 (BEL20) | N/A | N/A | N/A | 0.5 – 2.0 pts, 10:1–20:1 |
| BTC/USD (crypto CFD) | N/A | N/A | N/A | 0.2% – 2% spread, 2:1–5:1 |
Assets & Markets
Wealthsimple Trade delivers a compelling asset lineup for self-directed Canadian investors seeking simplicity and commission-free access to North American equities.
The platform allows investors to buy and sell all major Canadian and U.S. stocks and ETFs, with the added benefit of fractional shares on select names. Support for TFSAs, RRSPs, FHSA, and personal accounts is seamless, making Wealthsimple Trade accessible for both beginners and seasoned investors who value ease of use and lower entry costs.
One of the platform’s major strengths is its broad range of cryptocurrencies—over 100 coins and tokens can be traded directly, with no need for a separate crypto exchange. This surpasses most Canadian discount brokers, although there are no staking, lending, or earn programs, and all crypto holdings are custodial rather than in user-controlled wallets. Access to crypto is on a spot basis; derivative products such as crypto futures or options are not available.
There are a few notable gaps: Wealthsimple Trade does not offer bonds, GICs, commodities, forex, indices, NFTs, or other derivatives. Those seeking exposure to fixed income or advanced products will need to look elsewhere. Moreover, while core order types are included, the lack of stop-loss and conditional orders, as well as absence of leverage beyond a maximum of 2:1 margin on equities, means active traders or options strategists may find the toolkit limited.
Overall, Wealthsimple Trade offers an excellent solution for commission-free investing in Canadian and U.S. stocks, ETFs, and a surprising breadth of crypto assets. However, its lack of broader asset coverage and sophisticated trading features positions it best for straightforward buy-and-hold strategies or crypto investors who want simplicity and direct access.
| Asset Class | Type | Number at Wealthsimple Trade | Market Average | Example Assets |
|---|---|---|---|---|
| Stocks | Spot | 8,000+ | 3,000–6,000 | Shopify, Canadian Tire, Apple, Tesla |
| ETFs | Spot | 1,000+ | 500–2,000 | iShares XIU, Vanguard VOO, BMO ZEB |
| Cryptocurrencies | Spot | 100+ | 10–200 (leading crypto) | Bitcoin, Ethereum, Solana, Aave |
| Currencies (Forex) | Not offered | 0 | 30–100 | Not available |
| Commodities | Not offered | 0 | 10–30 | Not available |
| Indices | Not offered | 0 | 10–20 | Not available |
| Bonds | Not offered | 0 | 100–1,000 | Not available |
| Stablecoins | Spot | Major USD, CAD, EUR stablecoins included | 3–10 | USDC, USDT, CADC |
| NFTs | Not offered | 0 | 10–100+ (crypto brokers) | Not available |
| Other derivatives | Not offered | 0 | 20–500 | Not available |
Trading Tools & Apps
Wealthsimple Trade’s mobile and web trading platforms are deliberately minimalistic and clear, making them well-suited for beginners or mainstream investors seeking a quick, commission-free way to trade stocks, ETFs, and crypto in Canada. The interface is notably easy to navigate, with logical menus, accessible watchlists, and fast order placement functions, which lowers the barrier for those new to investing.
For users interested in technical analysis or sophisticated strategy, there are some distinct limits. The charting package is basic, with only essential indicators and a modest set of drawing tools available. There is no support for TradingView, MetaTrader, or any API integration, making the environment unsuited to advanced chartists, algorithmic trading, or automation. Power users will also notice the absence of conditional orders such as stop-loss, take-profit, or trailing stops; only market and limit orders are supported.
The crypto segment is integrated within the existing mobile and web apps, providing access to a diverse selection of coins. Crypto assets are managed through a custodial wallet with simple buy, sell, and transfer options. Staking, lending, and advanced crypto portfolio tools are not available, but coin selection and real-time pricing coverage outpace many competitors in the mainstream Canadian market.
Overall, Wealthsimple Trade’s strengths are accessibility, no minimums, ease of use, and the seamless integration of equity and crypto trading for Canadian users. Investors seeking deep analytical capabilities, automation, or complex order execution will find the platform limited, but for hands-on retail investors with a “keep it simple” philosophy, these trade-offs support an efficient and smooth user experience.
| Feature | Verified Details |
|---|---|
| Mobile app | Yes (iOS & Android); no MetaTrader, TradingView, or external crypto wallet integration |
| Usability | Highly intuitive and fluid; easy for beginners, with simple menu structure |
| Compatible software | Proprietary web/mobile platform only; no MT4/5, TradingView, or API |
| Order types | Market, limit, and fractional buys (no stop-loss, take-profit, trailing stop, OCO) |
| Charting and technical analysis | Basic built-in indicators and charting tools; lacks advanced analysis or integration |
| Auto trading / Automated strategies | Not supported; no bots, copy trading, or scripting |
| Algorithmic trading | Not available |
| Negative balance protection | Not applicable; no CFDs or leveraged forex beyond simple margin for spot stocks |
| Trading signals | Not supported (no TradingView or external integration) |
| Asset search and filters | Efficient search and filters by symbol, sector, and coin type; straightforward for equities/crypto |
| Spot stock purchase | Yes (Canadian/U.S. stocks & ETFs), fractional shares for many assets |
| Staking and earn | Not available; no DeFi or on-platform crypto yield options |
Tip
Always double-check your orders—since stop-loss and take-profit are not available, manually monitor open positions or set mobile app price alerts to manage risk proactively, especially during volatile trading periods.
Account Opening & Deposits
Account opening
Creating your account on Wealthsimple Trade starts with an easy online registration form where you enter your personal details and select the type of account you’d like to open (Personal, TFSA, RRSP, FHSA, USD, or Crypto). You’ll be prompted to complete a brief regulatory questionnaire about your financial background and trading experience. To verify your identity, you’ll need to upload a government-issued photo ID and take a selfie through the secure app or website. Most applications are reviewed within 1–3 business days. After verification, you’ll receive a confirmation email with login details to access your account.
Good to know
Ensure the name on your bank account matches your Wealthsimple Trade application to avoid processing delays or account linking issues.
| Item | Details |
|---|---|
| Opening procedure | Online form, regulatory questionnaire, upload government ID and selfie, select account type |
| Validation time | 1–3 business days for verification and email confirmation |
| Accepted deposit methods | Bank transfer (EFT), Interac e-Transfer, Visa/Mastercard debit, direct deposit, account transfer |
| Minimum required deposit | None |
| Required documents | Canadian government ID, selfie for KYC, financial/employment info as required |
| Practical tip | Prepare a clear photo of your ID and use the email you want on record for all notifications |
Deposits and withdrawals on Wealthsimple Trade
Deposits into Wealthsimple Trade accounts can be made via linked Canadian bank account (EFT), Interac e-Transfer, or debit card, all in CAD. There are no deposit fees, and funds from Interac and debit card are usually available instantly or within a few hours, while bank transfers may take 1–3 business days. Withdrawals are sent to your linked bank account, typically processed in 1–3 business days; standard withdrawals are free, but wire withdrawals incur a $10 fee. Wealthsimple Trade provides a custodial crypto wallet, enabling direct crypto deposits and withdrawals in supported coins. Note that cross-border or CAD-USD currency conversion incurs a 1.5% FX fee for U.S. trades.
Good to know
Review all banking details before initiating large withdrawals, and remember that U.S. dollar trades trigger conversion fees unless you use the USD account option.
| Payment method | Accepted currencies | Minimum amount | Processing time | Possible fees |
|---|---|---|---|---|
| Credit card | Not supported | N/A | N/A | N/A |
| Bank transfer (EFT) | CAD | None | 1–3 business days | None |
| Interac e-Transfer | CAD | None | Instant–few hours | None |
| E-wallets | Not supported | N/A | N/A | N/A |
| Stablecoins or cryptos | Supported coins | None | Up to 24 hours | Network fee may apply |
| Debit card | CAD | None | Instant | None |
| Other local options | Direct deposit, brokerage transfer | None | Varies | None |
Account Types
Wealthsimple Trade is a Canadian self-directed investing platform regulated by provincial authorities, offering commission-free access to stocks, ETFs, options, and direct crypto trading. It is not a CFD or Forex broker and does not support typical CFD account types like Raw ECN, Islamic, or Professional accounts. Instead, it specializes in straightforward taxable and registered accounts, plus basic crypto functionality with a custodial wallet. Accounts can be opened quickly online, with no minimum deposit, making the platform accessible for both beginners and experienced investors seeking a simple, low-cost way to invest in stocks and crypto.
| Account Type | Available | Main Features |
|---|---|---|
| Demo account | ❌ | No paper trading; all activity is with real funds |
| Standard account | ✅ | Personal, non-registered (taxable); commission-free trades; CAD or USD wallet |
| Raw ECN account | ❌ | Not available; no direct ECN order routing or institutional pricing |
| Islamic account | ❌ | Not available on Wealthsimple Trade; Halal portfolio only in managed investing, not self-directed |
| Professional account | ❌ | Not available |
| CFD account | ❌ | Wealthsimple Trade does not offer CFDs or Forex |
| Classic securities account | ✅ | Cash and registered accounts; trade Canadian/U.S. stocks, ETFs, options |
| Staking/earn account | ❌ | Crypto staking not supported |
| Cold storage account | ❌ | Crypto is kept in custodial wallets; no client-side cold storage or hardware wallet integration |
| Tax-advantaged account | ✅ | TFSA, RRSP, FHSA accounts offered with same zero-minimum and simple digital sign-up |
| Accepted base currencies | ✅ | CAD and USD (USD account is a premium feature; crypto accounts in CAD only) |
Tip
Before opening your account, decide if you want to trade U.S. stocks frequently. If so, consider activating the USD account option to save on currency conversion fees—otherwise, the standard CAD account provides low cost, no-hassle investing for all asset types on Wealthsimple Trade.
Customer reviews
Wealthsimple Trade has a Trustpilot rating of 1.7 out of 5 stars based on over 1,200 reviews as of July 2025.
Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :
- Easy and fast account opening with no minimum deposit
- User-friendly mobile and web app suitable for beginners
- Commission-free trading for Canadian stocks and ETFs
- Access to both Canadian and U.S. listed stocks, ETFs, and 100+ cryptocurrencies
En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :
- Slow or unresponsive customer support, especially during peak times
- High FX fees when buying or selling U.S. stocks and ETFs
- Limited order types (no stop loss or advanced conditional orders)
- No demo or paper trading feature
- Lack of advanced technical research tools
Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :
- M.S. – 15/06/2025 : “The app is easy to use, but customer service is slow to respond.”
- K.P. – 03/05/2025 : “Great for commission-free trading, but the FX fees on U.S. stocks add up.”
- L.T. – 27/04/2025 : “I like the simple interface, but wish they offered more advanced order types.”
FAQ
Is Wealthsimple Trade regulated in CA?
Yes, Wealthsimple Trade is regulated in Canada and licensed by the Ontario Securities Commission and other provincial regulators. It is only available to residents physically present in Canada and meets Canadian securities standards.
What is the minimum deposit on Wealthsimple Trade?
There is no minimum deposit required to open any account with Wealthsimple Trade. You can start trading with any amount, which is ideal for new investors looking to begin with small sums.
Does Wealthsimple Trade offer a welcome bonus?
Wealthsimple Trade does not provide a welcome bonus for new accounts. However, special referral promotions sometimes appear; these usually offer a cash reward when an invited friend signs up and funds an account.
How does leverage work on Wealthsimple Trade?
Leverage is available through margin accounts. Eligible clients can access up to 2:1 leverage (50% margin), allowing you to borrow up to half of your purchase for stocks or ETFs. Crypto trading cannot be leveraged.
How does Wealthsimple Trade make money?
Wealthsimple Trade earns money from currency conversion fees (1.5% each way on U.S. trades), crypto trading spreads (typically 1.5–2%), and certain service fees such as wire transfers. There are no commissions for Canadian stock and ETF trades.
Who is behind Wealthsimple Trade?
Wealthsimple Trade is a division of Wealthsimple Inc., a prominent Canadian fintech firm founded in 2014. Wealthsimple Inc. is backed by established investors, including Power Corporation, and is regulated in Canada.
When was Wealthsimple Trade launched?
Wealthsimple Trade was launched in 2019 as an online, commission-free investing platform. It quickly became popular in Canada for offering zero-commission trading of Canadian stocks and ETFs.
Does Wealthsimple Trade offer copy trading or social trading?
No, Wealthsimple Trade does not offer copy trading, social trading, or PAMM accounts. Investment decisions must be made independently, but the platform does provide simple research tools and educational resources.
How can I contact Wealthsimple Trade’s customer service?
You can contact Wealthsimple Trade customer support through live chat in the app or on the website, or by phone. Phone support is available 24/7, and the team is trained to assist Canadian users with account, trading, and technical issues.
Does Wealthsimple Trade offer any promotions or referral programs?
Wealthsimple Trade frequently runs referral programs where both you and your referred friend receive a cash bonus or stock reward after joining and funding an account. Check current offers on the official app or website.
Is Wealthsimple Trade regulated in CA?
Yes, Wealthsimple Trade is regulated in Canada and licensed by the Ontario Securities Commission and other provincial regulators. It is only available to residents physically present in Canada and meets Canadian securities standards.
What is the minimum deposit on Wealthsimple Trade?
There is no minimum deposit required to open any account with Wealthsimple Trade. You can start trading with any amount, which is ideal for new investors looking to begin with small sums.
Does Wealthsimple Trade offer a welcome bonus?
Wealthsimple Trade does not provide a welcome bonus for new accounts. However, special referral promotions sometimes appear; these usually offer a cash reward when an invited friend signs up and funds an account.
How does leverage work on Wealthsimple Trade?
Leverage is available through margin accounts. Eligible clients can access up to 2:1 leverage (50% margin), allowing you to borrow up to half of your purchase for stocks or ETFs. Crypto trading cannot be leveraged.
How does Wealthsimple Trade make money?
Wealthsimple Trade earns money from currency conversion fees (1.5% each way on U.S. trades), crypto trading spreads (typically 1.5–2%), and certain service fees such as wire transfers. There are no commissions for Canadian stock and ETF trades.
Who is behind Wealthsimple Trade?
Wealthsimple Trade is a division of Wealthsimple Inc., a prominent Canadian fintech firm founded in 2014. Wealthsimple Inc. is backed by established investors, including Power Corporation, and is regulated in Canada.
When was Wealthsimple Trade launched?
Wealthsimple Trade was launched in 2019 as an online, commission-free investing platform. It quickly became popular in Canada for offering zero-commission trading of Canadian stocks and ETFs.
Does Wealthsimple Trade offer copy trading or social trading?
No, Wealthsimple Trade does not offer copy trading, social trading, or PAMM accounts. Investment decisions must be made independently, but the platform does provide simple research tools and educational resources.
How can I contact Wealthsimple Trade’s customer service?
You can contact Wealthsimple Trade customer support through live chat in the app or on the website, or by phone. Phone support is available 24/7, and the team is trained to assist Canadian users with account, trading, and technical issues.
Does Wealthsimple Trade offer any promotions or referral programs?
Wealthsimple Trade frequently runs referral programs where both you and your referred friend receive a cash bonus or stock reward after joining and funding an account. Check current offers on the official app or website.
