Wealthsimple review for investing
- Stock Trading Fee
- $0
- Monthly Account Fee
- $0
- FX Fee
- 1.50%
- Min. Deposit
- $0
- Available Asset Types
- Stocks, Options, ETFs, Cryptocurrency
Our verdict
If you want $0 commission trades and a user-friendly mobile app for new investors, Wealthsimple is a good match.
One of the most popular investment apps in Canada, Wealthsimple truly offers a simple, low-cost way to invest in Canadian and US stocks and ETFs. No trade fees, no account fees and low or no currency conversion fees set this platform apart from the competition. However, experienced traders might prefer an app that provides access to a greater range of research tools and securities.
Best for: Beginner investors
Pros
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Supports stock, ETF, options, margin and crypto trading
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$0 trade commissions
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$0 annual account fees
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USD account comes with no trade commission, no conversion fee for trading US securities and instant trading limit up to $50,000. Costs $10/month (Core) or $0 (all other accounts).
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User-friendly, highly-rated mobile app
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Supports long call and long put options
Cons
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Does not support futures, CFD and forex trading
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Features lacking for advanced traders
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Core account holders pay a 0%-1.5% conversion fee or opt into a $10/month USD account
Wealthsimple is one of the most popular investing apps in Canada, and it’s easy to see why. This Canadian fintech offers a simple, low-cost way to invest in Canadian and US stocks and ETFs. There are no trading fees or account fees to worry about, and the platform offers a streamlined user experience that makes it perfect for new investors. However, experienced traders might prefer a broker that offers more advanced tools and features.
Best for: Beginner investors looking for a low-cost trading platform.
Pros
- $0 commission trading
- User-friendly app
- Supports fractional shares
- Instant deposits
- Real-time streaming quotes
- Also supports gold, crypto and options trading
Cons
- No access to international markets other than the US
- Does not support futures, CFD, mutual fund and forex trading
- Lacks features for advanced traders
- $10 monthly fee on USD accounts for Core investors
What is Wealthsimple?
Wealthsimple is a Canadian fintech company that offers a wide range of financial and investment products through a user-friendly mobile app.
For investors, Wealthsimple offers two ways to invest:
- Self-directed investing. With a Wealthsimple self-directed investing account, you have control. You can invest in stocks, ETFs and options with $0 commissions, while you can also use Wealthsimple to buy gold and cryptocurrency.
- Managed investing. This option allows you to invest in pre-built, managed ETF portfolios based on your risk tolerance. You can also invest in income portfolios of bonds, a Direct Indexing portfolio, and the Summit portfolio (still in its beta phase) of public equities and private market funds.
Wealthsimple’s features
| Fees | Commission-free stock, ETF and options trading. Foreign exchange fees apply, as do gold and crypto trading fees. |
| Available securities | Trade stocks, ETFs, options and cryptocurrency. Limited to major Canadian and US exchanges. |
| Customer support | Live chat support is available 24/7. |
| Mobile app | Mobile app users love the app’s ease and simplicity but report speed issues and a need for more features. |
| Research and tools | Simple stock research tools, limited advanced charting and no third-party analysis. AI-powered stock research tools coming soon. |
| Reliability | No major outages have been reported recently, but users occasionally report speed issues. |
Wealthsimple is best for beginner DIY investors
If you’re new to investing and you’re searching for a broker that makes it easy to get started straight away, Wealthsimple is a top pick. It’s quick and easy to sign up, there’s no minimum deposit required, and the fact that it supports fractional shares means you can start investing with as little as $1.
The Wealthsimple app also offers a user-friendly trading experience. It doesn’t come with the sort of steep learning curve you get from more advanced trading platforms, so novice investors will feel right at home straight away. And with $0 commission trading headlining Wealthsimple’s list of features, it’s easy to see why the platform is an excellent choice for DIY investors.
What you can trade on Wealthsimple
- Canadian and US stocks
- Canadian and US ETFs
- US options
- Gold
- Crypto
Where Wealthsimple shines
Wealthsimple’s main benefits are its user-friendly trading platform, its low fees and its pre-built robo-advisor portfolios.
Let’s start with the user experience. Whether you use the app or log in online, the interface is simple and intuitive right from the get-go. You don’t need to be an experienced trader to find your way around, making it suitable for most investors.
$0 commission trading of over 14,000 US and Canadian stocks and ETFs is a big selling point for many people. The fact that there are no commissions or contract fees when you trade options is another big plus, so you don’t need to worry about brokerage fees eating into your profits.Wealthsimple is also well worth a look if you’re a hands-off investor. With its pre-built, professionally managed portfolios and competitive fees, it’s easy to let someone else do the hard work for you.
More pros of Wealthsimple
- Instant deposits. As a Core client, you can deposit up to $500,000 into your Wealthsimple account instantly. Higher-tier clients can access higher instant deposit limits.
- Cash and margin trading available. You can invest your own money or borrow from Wealthsimple to trade on margin.
- Access to major Canadian & US exchanges. You can trade securities on the TSX, NYSE, NASDAQ, NEO, CSE. and BATS Exchange.
- Supports fractional shares. You don’t need a large amount of money to start trading. Fractional shares mean you can buy into major companies like Google, Apple and Amazon without paying the full stock price.
- Recurring investments. This feature allows you to set up regular, automatic purchases of stocks and ETFs—just set the schedule and your investment amount.
- Auto-investing. Wealthsimple also offers the option to automatically add a percentage of your paycheque to your investing account or be automatically invested in stocks and ETFs.
- Real-time streaming quotes. Level 1 streaming data allows you to make investing decisions based on the latest market data.
- Gold and crypto investing. In addition to stocks, ETFs and options, you can use Wealthsimple to invest in physical gold or trade over 140 cryptocurrencies.
- Supports Norbert’s Gambit. Support for this feature, which allows you to convert between CAD and USD without having to contend with high exchange rate markups, is coming in early 2026.
- Advanced options strategies. Options traders can take advantage of advanced strategies like covered calls, secured puts and multi-leg options.
Wealthsimple managed investing
Wealthsimple first made its name as a robo-advisor, and it continues to offer managed investing to Canadians who prefer a hands-off approach. This allows you to invest in diversified, pre-built portfolios managed by Wealthsimple, with a selection of portfolios available based on different goals and risk tolerances.
Wealthsimple’s managed portfolios can be split into four main categories:
- Classic. These portfolios are made up of a diversified selection of ETFs based on your risk tolerance—Aggressive, Growth, Balanced or Conservative. Management fees range from 0.2 – 0.5%, and there’s no minimum investment requirement.
- Income. These lower-risk portfolios are designed for people with short-term savings goals. Choose from a dynamic bond portfolio, core bond portfolio and money market portfolio, with returns ranging from 2.5 – 4.1%. Management fees range from 0% – 0.5%.
- Direct Indexing. This portfolio invests in stocks featured in top market indexes in Canada and the US. Portfolios are automatically rebalanced to maximize tax-loss harvesting, while you can also customize holdings based on your needs. A management fee applies and the minimum investment is $1,000.
- Summit. Still in its beta phase at the time of writing, this portfolio features a mix of public equities and private market funds. Designed for long-term investors, it aims to deliver returns of up to 10%. Fees of 0.2% – 0.4% apply to public equities and start at 2.25% for private market funds.
Where Wealthsimple falls short
Wealthsimple has increased its range of features for active traders in recent times. But there are other brokers that offer a more comprehensive suite of advanced tools for active traders.
Other brokers also provide access to a wider range of assets. You can’t invest in mutual funds or individual bonds with Wealthsimple, for example, while international markets aside from the US are overlooked. So if you want to trade internationally or invest in a diverse range of assets, you might prefer a trading platform like Interactive Brokers.
Finally, it’s important to remember that Wealthsimple offers three plans based on the asset amount you hold on the platform: Core ($1), Premium ($100,000) and Generation ($500,000+). Fees and features vary based on your account plan. So while Generation clients pay management fees of 0.2% – 0.4% on managed investing accounts, entry-level Core clients pay 0.5%. Core clients also have to pay a $10 monthly fee on USD accounts, and they need to settle for higher margin interest rates than Premium and Generation clients.
Wealthsimple fees
Check the table below for fees and features that apply to investors on Wealthsimple.
| Core ($1 in assets) | Premium ($100,000 in assets) | Generation ($500,000 in assets) | |
|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 |
| Annual fee | $0 | $0 | |
| Stock and ETF trade fee | $0 | $0 | |
| Options contract fee | $0 | $0 | |
| Gold trading fee | 1% | 1% | |
| Crypto trading fee | 0.05% – 2% | 0.05% – 1% | 0.05% – 0.5% |
| USD accounts | $10 | $10 | $10 |
| Foreign exchange fees | 1.50% (CAD account) 0 – 1.50% (USD account) | 1.50% (CAD account) 0 – 1.50% (USD account) | 1.50% (CAD account) 0 – 1.50% (USD account) |
| Interest on margin trading | 4.95% (CAD) 7.25% (USD) | 4.45% (CAD) 6.75% (USD) | 3.95% (CAD) 6.25% (USD) |
| Management fee for managed investing accounts | 0.5% | 0.4% | 0.2% – 0.4% |
| Inactivity fee | $0 | $0 | $0 |
| Deposit and withdrawal fees | $0 deposits, $0 standard withdrawals or 2.5% fee for instant withdrawals | $0 deposits, $0 standard withdrawals or 2.5% fee for instant withdrawals | $0 deposits, $0 standard withdrawals or 2.5% fee for instant withdrawals |
Is Wealthsimple legit?
Yes, Wealthsimple is 100% legit. When it first launched in 2014, Wealthsimple was a robo-advisor that provided access to a range of pre-built, managed investment portfolios. But it has since expanded to offer self-directed investing in stocks, ETFs and more, along with other products like a chequing account and credit card.
Wealthsimple is headquartered in Toronto, Ontario, and is a member of the Canadian Investment Regulatory Organization (CIRO).
Wealthsimple trading platforms
Wealthsimple offers two ways to trade: via a mobile app or via a web-based trading platform.
Both offer a simple and streamlined user experience and are easy to understand straight away. It’s quick and easy to log in, check your portfolio and place a buy order. The app also allows you to check all your Wealthsimple products in one place, which is handy if you have a crypto trading account and Wealthsimple Chequing Account alongside your investing account.
You can choose from market, limit, stop-market, stop-limit and fractional orders. You can set up price alerts and watchlists too, while some advanced trading charts are available on the web-based desktop platform. But if you want advanced charting tools or third-party research and analysis tools in your mobile trading app, you’ll need to consider other brokers.
Wealthsimple’s app store reviews
| Google Play app reviews | 3.5/5 stars based on 80,000+ ratings |
| Apple App Store app reviews | 4.6/5 stars based on 127,000+ ratings |
* Reviews as of January 2026
Wealthsimple’s customer support
If you have any problems with your Wealthsimple account, live chat support is available 24/7 online or via the app. There’s also an online Help Centre where you can find answers to a wide range of frequently asked questions.
Unfortunately, there are no phone contact details listed on Wealthsimple’s Contact Us page.
How to open an account with Wealthsimple
If you’re ready to start investing with Wealthsimple, here’s what you need to do.
Step 1: Create a Wealthsimple account
Download the Wealthsimple app or visit the Wealthsimple website to sign up. You’ll need to enter your email address and create a password, then provide personal details such as your date of birth, contact details and employment information.
Step 2: Open a self-directed investing account
If you’re using the app, tap on “Add or move account” from the Home screen. Tap “Open a new account”, choose the type of account you want to open, then select “Stocks, options, and ETFs”. Follow the prompts to create a trading account.
If you’re on the web, you’ll need to log in to your account and click on “+ Add an account”. Choose the Investing tab, select the type of account you want to open and then follow the instructions.
Step 3: Deposit funds
Now it’s time to deposit funds and start trading. Wealthsimple supports bank account transfers, e-Transfers and a range of other payment options.
Eligibility and required information
To create a Wealthsimple profile, you will need to:
- Be a Canadian resident
- Be the age of majority in your province or territory
- Have a Social Insurance Number (SIN)
- Have a valid phone number
- Verify your identity
You’ll be asked to provide the following during the application process:
- Full name
- SIN
- Date of birth
- Address (and potentially a previous address)
- Phone number
- Employment information
- Proof of ID
How safe is Wealthsimple?
Wealthsimple self-directed Investing and managed accounts are offered by Wealthsimple Investments Inc., which is a member of the Canadian Investment Regulatory Organization (CIRO). Customer accounts are covered by the Canadian Investor Protection Fund (CIPF).
The company also follows industry-standard best practices to protect users’ money and data. Besides employing a full-time security team, the company uses 256-bit SSL/TLS encryption, two-step verification and cloud backups to prevent any data from getting lost.
However, Wealthsimple made headlines in September 2025 when it disclosed a data breach as a result of a supply chain attack. Wealthsimple reported that a software package written by a trusted third party was compromised and the personal information of less than 1% of customers was affected, but that all customer accounts remained secure and no funds were stolen.
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Stock Trading Fee
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Min. Deposit
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Signup Offer
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Signup Offer
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