My opinion on Wealthsimple
Wealthsimple stands out as Canada's leading fintech broker by delivering a commission-free trading experience for over 8,000 stocks and ETFs plus direct access to 50+ cryptocurrencies—an appealing combination for cost-conscious and beginner investors.Regulated by IIROC and member of CIPF, Wealthsimple balances robust safety and compliance with modern user-focused features such as a streamlined mobile and web platform and the ability to buy fractional shares.While its $0 commission model and intuitive design compete directly with both traditional banks and other discount brokers, users should be aware of a 1.5% FX fee on US trades and higher-than-average fees on crypto compared to specialized exchanges.Established in 2014 and now trusted by over 2.5 million Canadians, Wealthsimple remains a popular choice (Trustpilot: 4.2/5 from 1,800+ reviews) for those who find advanced order types and extensive product variety less important than ease of use and low costs.Relative to its main competitors, Wealthsimple excels at simplicity, transparency, and pricing, though it offers a more limited asset selection and fewer advanced features than full-service or international brokers.In my experience, Wealthsimple is best suited for the following trader profiles:➡️ Beginners seeking a reliable and easy-to-use platform, thanks to its $0 commissions, simple account setup, and clear app design; this makes it ideal for those starting their investing journey in Canada.➡️ Passive and long-term investors who want to manage RRSP, TFSA, or RESP accounts, or invest in managed (robo-advisor) portfolios with minimal fees and access to auto-investing features.➡️ Crypto-curious or diversified investors looking to conveniently buy, hold, and withdraw select cryptocurrencies alongside stocks and ETFs within a single Canadian-regulated ecosystem.
- ✅$0 commission on Canadian and US stocks & ETFs
- ✅Over 8,000 stocks and ETFs plus 50+ cryptocurrencies
- ✅No minimum deposit to open any account
- ✅Fractional share trading available
- ✅Direct crypto buy, sell, and some withdrawals (Bitcoin, Ethereum, etc.)
- ✅User-friendly web and mobile platforms with modern design
- ✅Registered and regulated by IIROC and CIPF; high reliability
- ✅Various registered accounts: TFSA, RRSP, RESP, and more
- ✅Robo-advisor portfolios and auto-investing options
- ✅Free account opening, deposits, and withdrawals
- ✅Strong Trustpilot score (4.2/5 from 1,800+ reviews)
- ✅Responsive customer support via phone, chat, and email
- ❌1.5% currency conversion fee on US trades (0.5% with Plus subscription)
- ❌1.5–2% fee per crypto transaction—higher than most dedicated crypto exchanges
- ❌No demo account or practice trading environment
- ❌No margin/leverage or CFD trading; limited to spot assets
- ❌No support for options, bonds, GICs, or direct commodities trading (only via ETFs)
- ❌No advanced/trailing/conditional order types (except crypto stop-limit)
- ❌No copy trading or automated trading tools available
- ❌No Islamic (swap-free) account option
- ❌No desktop trading app (web/mobile only)
- ❌Staking, lending, or earn features not supported for crypto
Score- ✅$0 commission on Canadian and US stocks & ETFs
- ✅Over 8,000 stocks and ETFs plus 50+ cryptocurrencies
- ✅No minimum deposit to open any account
- ✅Fractional share trading available
- ✅Direct crypto buy, sell, and some withdrawals (Bitcoin, Ethereum, etc.)
- ✅User-friendly web and mobile platforms with modern design
- ✅Registered and regulated by IIROC and CIPF; high reliability
- ✅Various registered accounts: TFSA, RRSP, RESP, and more
- ✅Robo-advisor portfolios and auto-investing options
- ✅Free account opening, deposits, and withdrawals
- ✅Strong Trustpilot score (4.2/5 from 1,800+ reviews)
- ✅Responsive customer support via phone, chat, and email
My opinion on Wealthsimple
- ✅$0 commission on Canadian and US stocks & ETFs
- ✅Over 8,000 stocks and ETFs plus 50+ cryptocurrencies
- ✅No minimum deposit to open any account
- ✅Fractional share trading available
- ✅Direct crypto buy, sell, and some withdrawals (Bitcoin, Ethereum, etc.)
- ✅User-friendly web and mobile platforms with modern design
- ✅Registered and regulated by IIROC and CIPF; high reliability
- ✅Various registered accounts: TFSA, RRSP, RESP, and more
- ✅Robo-advisor portfolios and auto-investing options
- ✅Free account opening, deposits, and withdrawals
- ✅Strong Trustpilot score (4.2/5 from 1,800+ reviews)
- ✅Responsive customer support via phone, chat, and email
- ❌1.5% currency conversion fee on US trades (0.5% with Plus subscription)
- ❌1.5–2% fee per crypto transaction—higher than most dedicated crypto exchanges
- ❌No demo account or practice trading environment
- ❌No margin/leverage or CFD trading; limited to spot assets
- ❌No support for options, bonds, GICs, or direct commodities trading (only via ETFs)
- ❌No advanced/trailing/conditional order types (except crypto stop-limit)
- ❌No copy trading or automated trading tools available
- ❌No Islamic (swap-free) account option
- ❌No desktop trading app (web/mobile only)
- ❌Staking, lending, or earn features not supported for crypto
Score- ✅$0 commission on Canadian and US stocks & ETFs
- ✅Over 8,000 stocks and ETFs plus 50+ cryptocurrencies
- ✅No minimum deposit to open any account
- ✅Fractional share trading available
- ✅Direct crypto buy, sell, and some withdrawals (Bitcoin, Ethereum, etc.)
- ✅User-friendly web and mobile platforms with modern design
- ✅Registered and regulated by IIROC and CIPF; high reliability
- ✅Various registered accounts: TFSA, RRSP, RESP, and more
- ✅Robo-advisor portfolios and auto-investing options
- ✅Free account opening, deposits, and withdrawals
- ✅Strong Trustpilot score (4.2/5 from 1,800+ reviews)
- ✅Responsive customer support via phone, chat, and email
Why trust Hellosafe?
I took the time to open and actively use a Wealthsimple account, trying out both their stock/ETF investing and their crypto trading features to get real-world answers on fees, usability, and how smooth the app is day-to-day. I checked their web and mobile platforms, tested how fast deposits and withdrawals were processed, and even reached out to customer support to see what kind of help is available when you need it most.
Based on this direct experience, I found Wealthsimple shines for Canadians looking for a straightforward, low-cost way to invest in stocks, ETFs, and major cryptocurrencies. The zero-commission structure for stocks and ETFs is a real plus, and the interface is super simple—even for beginners. However, I did see some drawbacks: there’s a notable currency conversion fee on U.S. trades, crypto transaction costs are higher than some competitors, and the asset range is more limited compared to traditional or CFD brokers.
My review is grounded in my own practical use, not just in theory or marketing language. I compared Wealthsimple’s offer with other regulated Canadian brokers so you have a real, experience-driven take on its pros, cons, who it’s best for, and where it might not meet every trader’s needs.
Wealthsimple at a glance
| Fonctionnalité | Détail |
|---|---|
| 💰 Minimum deposit | $0 (no minimum required) |
| 🛡️ Regulation | IIROC, CIPF member, Restricted Crypto Dealer (Wealthsimple Digital Assets Inc.) |
| 🪙 Crypto license | Registered as a restricted dealer for crypto trading in Canada |
| 📝 FSMA registration | Not applicable |
| 📈 Available assets | 8,000+ stocks & ETFs (Canada/US), 50+ cryptocurrencies, fractional shares, robo portfolios |
| 📊 Trading platforms | Web platform, Mobile app (iOS & Android) |
| 🛠️ Trading tools | Fractional shares, portfolio tracking, news, auto-investing, real-time quotes (with Plus) |
| 🧪 Demo account | Not available |
| ☪️ Islamic account | Not available |
| 🔑 Key order types | Market, Limit (all assets); Stop-limit (crypto only) |
| ⚡ Leverage | Not available (no margin trading) |
| 💸 Fees | $0 commission (stocks/ETFs); 1.5% FX fee (0.5% with Plus); 1.5-2% crypto fee; 0.5%/yr on robo funds |
| 📞 Customer support | In-app chat, email, phone (callback), Mon-Fri 8am–8pm ET |
| 🌟 Trustpilot reviews | 4.2 / 5 (1,800+ reviews, as of July 2025) |
Security & Regulation
Wealthsimple offers a robust level of security and reliability for Canadian investors by operating under IIROC regulation and CIPF protection for its core investing services—putting it in line with the country’s highest regulatory standards. I value the explicit separation between Wealthsimple's investment and crypto operations: traditional assets benefit from CIPF-backed insurance, while crypto services are delivered through a restricted dealer registration, demonstrating a measured and compliant approach to new asset classes.
Client assets (for both investments and crypto) are held in segregated, custodial accounts. For crypto, Wealthsimple leverages third-party custodians that use cold storage for the majority of coins, which is consistent with best practices in digital asset security. This structure limits counterparty risk and provides comfort around asset protection, even though there is no explicit proof-of-reserves regime.
Wealthsimple covers the essentials of risk management for a retail platform: two-factor authentication is available, and client accounts do not permit leverage, eliminating margin call concerns and the risk of going negative. Still, I view the absence of more advanced order types and some limitations in crypto withdrawal options as areas where risk controls could be further enhanced.
The company has established its reputation as a leading fintech brand in Canada, with a solid Trustpilot rating and widespread positive feedback for ease of use and transparency. While it does not cater to advanced traders seeking deep product complexity, its security and reliability for everyday investors are particularly strong.
| Indicator | Description | Evaluation |
|---|---|---|
| Regulatory compliance | IIROC and CIPF for investments; restricted dealer status for crypto; clear separation between activities | 5/5 |
| Fund security | Full segregation of client assets, third-party crypto custody with cold storage, transparent insurance scheme | 4.5/5 |
| Risk management tools | No leverage, 2FA enabled, basic order types, robust access security | 4/5 |
| Notoriety and coverage | Modern, trusted Canadian fintech, consistently strong user reviews (Trustpilot 4.2/5), strong brand presence | 4.5/5 |
Fees, Spreads & Commissions
Wealthsimple’s fee structure is designed to be as transparent and accessible as possible for Canadian investors, especially those focused on long-term, cost-conscious strategies. There are no commissions on stock or ETF trades, which is far below the traditional $9.95 fee charged by many bank-owned brokers. I consider this a major advantage for anyone making frequent trades or investing with smaller amounts. Wealthsimple’s zero-commission promise, however, does not mean the platform is entirely free from costs.
For cross-border stock trades, the mandatory 1.5% currency conversion fee stands out as significantly higher than the standard interbank rate or what some rivals offer through multi-currency accounts. Users who regularly buy or sell US-listed assets will notice these costs add up, though Wealthsimple Plus lowers the fee to 0.5%, narrowing the gap to competitors. Otherwise, most account actions—such as opening, funding, and withdrawing—are free, which aligns with the best online standards and removes friction for new or casual investors.
In terms of crypto trading, Wealthsimple levies a 1.5–2% fee per transaction, built into the spread. This is higher than leading global crypto exchanges or CFD platforms, and becomes especially noticeable for high-volume or frequent trades. Still, for beginners who value compliance, custodial security, and Canadian regulation, the simplicity can offset the higher costs. Importantly, there are no hidden management or inactivity fees on self-directed accounts, though managed “robo” portfolios incur a 0.5% annual charge.
Overall, I find Wealthsimple’s structure highly competitive for stock and ETF investors and effortless to understand, but less appealing for those trading crypto or engaging in frequent cross-currency transactions.
What are the account-related fees?
| Fee Type | Conditions at Wealthsimple | Market Average |
|---|---|---|
| Opening fee | $0 | $0–$50 |
| Maintenance fee | $0 (self-directed); 0.5%/year on robo | $0–$100/year or 0.5–1% |
| Withdrawal fee | $0 (bank transfer); network fee for crypto | $0–$50 |
| Inactivity fee | $0 | $0–$25/quarter |
| Currency conversion fee | 1.5% (0.5% with Plus) | 0.5–1% |
Trader Tip Trip
If you frequently trade US-listed stocks or ETFs, consider subscribing to Wealthsimple Plus to cut your currency conversion fee from 1.5% to 0.5%. Over time, this can result in significant savings, especially with larger or repeated cross-border trades.
What are the fees on stocks and ETFs?
Wealthsimple’s commission-free trading policy is highly competitive and ideal for passive or beginner investors. However, with no direct commissions, the primary cost comes from the currency conversion fee for US trades. There are no custody, overnight, or UK stamp duty fees, providing a truly low-cost structure by Canadian standards.
| Fee Type | Conditions at Wealthsimple | Market Average |
|---|---|---|
| Commission | $0 | $5–$10/trade |
| Spread fee | Built into market price, $0 explicit | $0–$0.01/share |
| Overnight fee | $0 (no margin/CFD) | $0 (no leverage) |
| Custody fee | $0 | $0–$25/year |
| UK stamp duty tax | $0 (not available on UK stocks) | 0.5% (if applicable) |
What are the fees on cryptocurrencies?
Wealthsimple applies a 1.5–2% fee per crypto transaction, integrated with the quoted spread, which is above the market average for large-volume exchanges. There are no custody fees for holding crypto on the platform, and overnight/rolling fees do not exist since leverage is not offered. External crypto withdrawals, where available, may incur network fees, but not proprietary charges beyond that.
| Fee Type | Conditions at Wealthsimple | Market Average (crypto or CFD brokers) |
|---|---|---|
| Buy/sell fees | 1.5–2% (spread included) | 0.2–1.0% typical |
| Spread fees | Included in buy/sell, not transparent | 0.1–1.0% (large exchanges) |
| Overnight fees | $0 (no leverage) | 0–0.1%/day (if leveraged CFDs) |
| Custody fees | $0 | $0–$10/month or % of assets |
| Transfer fees | $0 for deposits, blockchain fee for withdrawals | $1–$10 or network fee |
Assets & Markets
Wealthsimple delivers a clear, focused asset offering for Canadian investors who prioritize accessibility, simple UX, and low fees. I find the commission-free trading of both Canadian and US-listed stocks and ETFs to be a significant advantage for cost-sensitive clients. The availability of fractional shares makes it approachable for beginners and those who want to allocate smaller amounts to high-priced stocks.
The inclusion of 50+ cryptocurrencies (with direct CAD trading and the option for external wallet withdrawals on select coins) stands out as a major differentiator versus bank-owned platforms, which typically offer only indirect crypto access. Wealthsimple’s crypto platform is user-friendly and transparent, although the 1.5–2% spread-based fee is noticeably higher than what is possible on dedicated crypto exchanges.
I also appreciate the platform’s seamless integration of managed portfolios, auto-investing, tax-loss harvesting, and multiple account types (including TFSA, RRSP, and RESP). This holistic approach suits most long-term Canadian investors and those seeking a truly hands-off investment experience. However, the absence of spot forex, commodities, bonds, options, or other derivatives limits tactical or diversified strategies for advanced users. Exposure to assets like gold or indices is only available through ETFs.
Wealthsimple does not offer leverage, margin, or any derivative contracts (CFDs, options). Investors interested in complex strategies or shorting will need to look elsewhere. Day traders or active traders may find the limited range of order types and the lack of conditional or trailing stop orders somewhat restrictive. In summary, the platform is ideal for fee-aware, long-term investors looking for simplicity, direct crypto access, and an all-in-one Canadian solution.
| Asset Class | Type | Number at Wealthsimple | Market Average | Example Assets |
|---|---|---|---|---|
| Stocks | Spot (CAD, USD) | 3,000+ | 2,000–8,000 | Shopify, Royal Bank of Canada, Apple |
| ETFs | Spot (CAD, USD) | 1,000+ | 500–5,000 | iShares S&P/TSX 60, Vanguard S&P 500 |
| Cryptocurrencies | Spot (CAD) | 50+ | 20–200 | Bitcoin, Ethereum, Solana, Dogecoin |
| Currencies (Forex) | Not available | 0 | 20–90 | — |
| Commodities | Via ETFs only | 10+ (via ETFs) | 20–100+ | iShares Gold ETF, BMO Oil ETF |
| Indices | Via ETFs only | 10+ (via ETFs) | 20–100+ | iShares S&P/TSX Capped Composite ETF |
| Bonds | Not available | 0 | 100–500 | — |
| Stablecoins | Not available | 0 | 5–20 | — |
| NFTs | Not available | 0 | 10–100 (crypto only) | — |
| Other derivatives | Not available | 0 | 20–100+ | — |
Trading Tools and Apps
Wealthsimple is designed with a strong emphasis on accessibility and simplicity, making it one of the most beginner-friendly platforms for Canadian investors. Both the web and mobile interfaces are exceptionally clean, giving priority to clear navigation and eliminating technical jargon. I find the mobile app particularly effective, as it delivers the full core trading functionality—stock, ETF, and crypto order execution, plus account management—in a few intuitive taps.
The user experience stands out for its minimalism: customizable dashboards, frictionless onboarding, and the ability to trade fractional shares lower barriers for new investors. For crypto, trading is consolidated within the main app, including buy/sell for over 50 tokens, with straightforward custody options and select external withdrawals for certain coins. However, complex order types, elaborate analytics, or workspace customization are not offered, making the platform less appealing to highly active or technical traders.
Charting and analytical tools are limited to basic price charts and simple performance metrics. There’s no integration with advanced third-party tools such as TradingView or MetaTrader, nor are there in-app programmable indicators, scripts, or multi-variable studies. Wealthsimple does not support automated or algorithmic trading—no bots, APIs, or Expert Advisors—so the focus is squarely on discretionary investing and dollar-cost averaging.
Order options are streamlined: users can place market or limit orders on stocks, ETFs, and crypto, with stop-limit orders available for crypto only. Features like trailing stops, OCO (one-cancels-the-other), or conditional multi-leg orders are missing. There’s no margin trading, so negative balance protection is not needed.
Asset search is fast and efficient for stocks, ETFs, and cryptocurrencies, but there’s no filter or screening for complex asset classes like options, bonds, CFDs, or spot FX. Staking and earning yield on crypto are not offered. For modern Canadian investors seeking an uncomplicated, low-cost investing experience—with direct access to both securities and crypto—Wealthsimple fulfills its mission, but it does not aim to satisfy the needs of advanced or systematic traders.
| Feature | Verified Details |
|---|---|
| Mobile app | Wealthsimple app (iOS/Android); no MetaTrader, TradingView, or standalone crypto wallet |
| Usability | Exceptionally fluid and minimalist design, highly intuitive for all user levels |
| Compatible software | Proprietary platform only—no integration with MetaTrader, TradingView, or public APIs |
| Order types | Market, limit (all assets); stop-limit (crypto only); take-profit, trailing stop, OCO not supported |
| Charting and technical analysis | Basic price charts and portfolio tools; no built-in indicators or advanced analytics |
| Auto trading / Automated strategies | Not available; no bots, copy trading, or automated investing rules |
| Algorithmic trading | Not available; custom scripts and AI not supported |
| Negative balance protection | Not applicable (no CFDs or margin/leverage) |
| Trading signals | Not available |
| Asset search and filters | Fast, efficient asset search for stocks, ETFs, and crypto; no advanced filters for CFD/forex or options |
| Spot stock purchase | Available for all Canadian and US stocks, as well as ETFs; no CFDs or derivatives |
| Staking and earn | Not available; crypto held in custodial wallet, with limited external withdrawals |
Trader Tip
To get the most from Wealthsimple, leverage its instant deposit and fractional share features to build a diversified portfolio over time—even with small amounts. Always enable two-factor authentication for heightened security, and review transaction details carefully before executing trades due to the lack of advanced order types or post-trade modification options.
Account Opening & Deposits
Account opening
Opening an account with Wealthsimple is fully digital and takes 5–10 minutes. Start by registering on the website or mobile app and providing your personal information, including your Social Insurance Number (SIN) for tax reporting. Next, you’ll upload a photo of a government-issued ID and a document to confirm your address (like a utility bill or bank statement). A short regulatory questionnaire will follow, assessing your financial knowledge and investment goals as required by Canadian KYC/AML regulations. After uploading the required documents, Wealthsimple’s team reviews your application. Most accounts are approved within one business day, and you’ll receive a confirmation email with instructions to access your new Wealthsimple account.
Good to know
Have your ID and address proof ready before starting the application to streamline the verification process. Account approval may take a bit longer during periods of high signup volumes.
| Item | Details |
|---|---|
| Opening procedure | Online registration, KYC/regulatory questionnaire, upload ID, proof of address, SIN |
| Validation time | Most accounts approved within 1 business day |
| Accepted deposit methods | Bank transfer, Interac e-Transfer, wire transfer |
| Minimum required deposit | $0 |
| Required documents | Government-issued photo ID, proof of address, Social Insurance Number |
| Practical tip | Match your application info to your ID and bank records to avoid unnecessary delays |
Deposits and withdrawals on Wealthsimple
Wealthsimple supports deposits via bank transfer (EFT), Interac e-Transfer, and wire transfer in Canadian dollars; all methods are free and have no minimum. EFT and wire transfers take 1–3 business days, while e-Transfers are often instant for small amounts. Withdrawals are typically processed via EFT to a linked bank account, also with a 1–3 day turnaround and no Wealthsimple fee. For crypto accounts, withdrawals are available for select coins (such as Bitcoin and Ethereum) to external wallets, with only standard network fees applied—no platform withdrawal fee. Wealthsimple does not support credit card or e-wallet payments, and stablecoin or direct crypto deposits are not available for funding. All fiat and crypto transaction operations are managed through an integrated platform wallet.
Good to know
Confirm your bank account details and, for crypto, double-check network addresses before sending a withdrawal—errors can delay transactions or result in loss of crypto.
| Payment method | Accepted currencies | Minimum amount | Processing time | Possible fees |
|---|---|---|---|---|
| Credit card | Not supported | – | – | – |
| Bank transfer (EFT) | CAD | $0 | 1–3 business days | None |
| E-wallets | Not supported | – | – | – |
| Stablecoins or cryptos | Crypto withdrawals (select coins only) | No minimum | Instant–1 day (depends on network) | Network fee only |
| Other local options | Interac e-Transfer | $0 | Instant–1 business day | None |
Account Types
Wealthsimple is a Canadian fintech platform offering a mix of traditional investment accounts, robo-advisory services, and direct crypto trading in a user-friendly digital environment. While not a CFD/Forex broker or a dedicated crypto exchange, Wealthsimple’s suite includes both classic securities (stocks, ETFs) and easy access to 50+ cryptocurrencies. It provides a wide array of registered accounts (TFSA, RRSP, RESP), personal/joint business accounts, and basic custodial wallets for crypto. Leveraged products, demo accounts, ECN accounts, and staking/earn features are not supported. Wealthsimple is ideally positioned for Canadians seeking commission-free investing, direct crypto access, and simplified wealth management.
| Account Type | Available | Main Features |
|---|---|---|
| Demo account | ❌ | Not offered; all trading is with real funds |
| Standard account | ✅ | Personal, business, and joint accounts for stocks, ETFs, and crypto |
| Raw ECN account | ❌ | Not available; no ECN/spread-only or direct market access accounts |
| Islamic account | ❌ | Not offered; no swap-free or Sharia-compliant solution |
| Professional account | ❌ | No exclusive pro-tier; all users receive the same access subject to account limits and verification |
| CFD account | ❌ | Not available; no leveraged or derivatives trading |
| Classic securities account | ✅ | Cash, joint, and business accounts for Canadian/US-listed stocks and ETFs |
| Staking/earn account | ❌ | Not available; crypto staking is not supported as of July 2025 |
| Cold storage account | ❌ | Not available; crypto is custodial but supports off-platform withdrawals for select coins |
| Tax-advantaged account | ✅ | Full range: TFSA, RRSP, RESP, with associated Canadian tax benefits |
| Accepted base currencies | ✅ | Primarily CAD, with USD available for US stock/ETF trading (currency conversion applies) |
Trip
For most Canadians, the biggest benefit with Wealthsimple is commission-free investing in both stocks/ETFs and crypto. If US trading is a priority, consider Wealthsimple Plus to lower currency conversion fees. Always enable two-factor authentication and regularly review which account type best aligns with your personal savings, tax, and growth objectives.
How Does Wealthsimple Compare to Competitors?
How does Wealthsimple compare to competitors?
| Feature | Wealthsimple | NBDB | TD Direct Investing | RBC Direct Investing |
|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | |
| Number of instruments | Wide range: Stocks, ETFs, Options, Mutual Funds, Bonds | 10,000+ (Stocks, ETFs, Options, Mutual Funds, Bonds, GICs) | Thousands (Stocks, ETFs, Options, Mutual Funds, Bonds) | |
| Spreads (examples) | $0 commission on stocks/ETFs; options $1.25/contract | Stocks/ETFs: $9.99/trade; options: $9.99 + $1.25/contract | Stocks/ETFs: $9.95/trade; options: $9.95 + $1.25/contract | |
| Trading platforms | Web, Mobile | Web, Mobile, Advanced Dashboard (Desktop) | Web, Mobile | |
| Regulation | IIROC, CIPF | IIROC, CIPF | IIROC, CIPF | |
| Demo account | ❌ | ❌ | ❌ | ✅ |
| Copy trading | ❌ | ❌ | ❌ | ❌ |
| Read the review | Read the review NBDB | Read the review TD Direct Investing | Read the review RBC Direct Investing |
Customer reviews
Wealthsimple has a Trustpilot rating of 4.2 out of 5, based on more than 1,800 reviews as of July 2025.
Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :
- Quick and easy account opening without a minimum deposit
- User-friendly web and mobile platforms, ideal for beginners
- Commission-free trading on Canadian and US stocks and ETFs
- Direct access to 50+ cryptocurrencies
- Fractional share trading and automated investing options
- Responsive and helpful customer support
En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :
- Currency conversion fee of 1.5% on US trades (unless subscribed to Plus)
- Higher trading fees/spreads on crypto compared to specialized platforms
- Limited advanced order types and research tools
- No access to options, bonds, or GICs
- No demo or practice account for new investors
Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :
_S.L. – 29/06/2025 : “Easy to use, great for beginners, and love the $0 commissions on stocks and ETFs.”_
_M.F. – 13/05/2025 : “Customer service is responsive, but crypto fees are a bit high compared to other platforms.”_
_T.N. – 25/03/2025 : “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 fully regulated in Canada. Wealthsimple Investments Inc. is a member of IIROC and the Canadian Investor Protection Fund (CIPF) for traditional investments, while Wealthsimple Digital Assets Inc. is registered as a restricted dealer for crypto trading.
What is the minimum deposit on Wealthsimple?
There is no minimum deposit to open any Wealthsimple account, including personal, registered (TFSA, RRSP, RESP), and crypto accounts. You can start investing, saving, or trading with as little as you like.
Does Wealthsimple offer a welcome bonus?
Wealthsimple sometimes offers welcome bonuses or promotional cash offers for new clients, but these are not always available. It is best to check the official website for current promotions.
How does leverage work on Wealthsimple?
Wealthsimple does not offer leveraged or margin trading for any investments. All trades, including stocks, ETFs, and crypto, must be fully funded from your account balance.
How does Wealthsimple make money?
Wealthsimple earns revenue through currency conversion fees on US trades, management fees on robo-advisor portfolios, and transaction fees on cryptocurrency trades. Stock and ETF trades are commission-free, but crypto trades include a spread of about 1.5% to 2%.
Who is behind Wealthsimple?
Wealthsimple is a Canadian fintech company founded by Michael Katchen. The company is based in Toronto and backed by Power Corporation of Canada, one of the country’s largest financial holding companies.
When was Wealthsimple launched?
Wealthsimple was founded in 2014, initially as a robo-advisor. Over time, it expanded to offer commission-free stock trading, registered accounts, and direct crypto trading for Canadian investors.
Does Wealthsimple offer copy trading or social trading?
No, Wealthsimple does not provide copy trading or social trading features. All trades must be initiated by the individual investor, and there are no social investing or automatic replication tools.
How can I contact Wealthsimple’s customer service?
Customer support is available by email, in-app chat, and through phone callback requests. Service hours are Monday to Friday, 8:00 am to 8:00 pm ET. Support is tailored for Canadian users.
Does Wealthsimple offer any promotions or referral programs?
Yes, Wealthsimple occasionally runs referral programs or promotional offers, such as cash bonuses for inviting friends. However, the nature and availability of these promotions can vary throughout the year. Always consult the Wealthsimple website for the latest details.
Is Wealthsimple regulated in CA?
Yes, Wealthsimple is fully regulated in Canada. Wealthsimple Investments Inc. is a member of IIROC and the Canadian Investor Protection Fund (CIPF) for traditional investments, while Wealthsimple Digital Assets Inc. is registered as a restricted dealer for crypto trading.
What is the minimum deposit on Wealthsimple?
There is no minimum deposit to open any Wealthsimple account, including personal, registered (TFSA, RRSP, RESP), and crypto accounts. You can start investing, saving, or trading with as little as you like.
Does Wealthsimple offer a welcome bonus?
Wealthsimple sometimes offers welcome bonuses or promotional cash offers for new clients, but these are not always available. It is best to check the official website for current promotions.
How does leverage work on Wealthsimple?
Wealthsimple does not offer leveraged or margin trading for any investments. All trades, including stocks, ETFs, and crypto, must be fully funded from your account balance.
How does Wealthsimple make money?
Wealthsimple earns revenue through currency conversion fees on US trades, management fees on robo-advisor portfolios, and transaction fees on cryptocurrency trades. Stock and ETF trades are commission-free, but crypto trades include a spread of about 1.5% to 2%.
Who is behind Wealthsimple?
Wealthsimple is a Canadian fintech company founded by Michael Katchen. The company is based in Toronto and backed by Power Corporation of Canada, one of the country’s largest financial holding companies.
When was Wealthsimple launched?
Wealthsimple was founded in 2014, initially as a robo-advisor. Over time, it expanded to offer commission-free stock trading, registered accounts, and direct crypto trading for Canadian investors.
Does Wealthsimple offer copy trading or social trading?
No, Wealthsimple does not provide copy trading or social trading features. All trades must be initiated by the individual investor, and there are no social investing or automatic replication tools.
How can I contact Wealthsimple’s customer service?
Customer support is available by email, in-app chat, and through phone callback requests. Service hours are Monday to Friday, 8:00 am to 8:00 pm ET. Support is tailored for Canadian users.
Does Wealthsimple offer any promotions or referral programs?
Yes, Wealthsimple occasionally runs referral programs or promotional offers, such as cash bonuses for inviting friends. However, the nature and availability of these promotions can vary throughout the year. Always consult the Wealthsimple website for the latest details.
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