Wealthsimple Invest Review 2025

Updated March 2025 · 12 min read

Wealthsimple has grown from a startup robo-advisor launched in 2014 into Canada's most recognized fintech company. Today Wealthsimple offers two core investing products: Wealthsimple Invest (automated robo-advisor) and Wealthsimple Trade (self-directed brokerage). Understanding the difference — and which is right for you — is the first step in evaluating whether Wealthsimple belongs in your financial life.

Wealthsimple Invest: The Robo-Advisor

Wealthsimple Invest is a fully automated portfolio management service. You complete a short questionnaire about your goals, time horizon, and risk tolerance. Wealthsimple assigns you one of several ETF portfolio options, handles all rebalancing automatically, and manages your investments without you needing to make any decisions.

How Wealthsimple Invest Works

1. Complete the risk questionnaire (takes 5 minutes)
2. Choose your account type (TFSA, RRSP, FHSA, RESP, or non-registered)
3. Wealthsimple assigns a portfolio — typically a mix of Canadian, US, and international equity ETFs plus bond ETFs
4. Fund the account via linked bank account
5. Set up automatic recurring contributions (optional but recommended)
6. Wealthsimple rebalances automatically as markets move

Wealthsimple Invest Fees

• Core (under $100,000): 0.50% management fee per year
• Premium ($100,000–$500,000): 0.40% management fee per year
• Generation ($500,000+): 0.40% plus access to dedicated financial advisors and tax-loss harvesting
• Underlying ETF MERs: Approximately 0.15–0.25% additional
• Total all-in cost: Approximately 0.55–0.75% annually

Wealthsimple Invest Portfolio Options

Wealthsimple offers three portfolio families:

• Standard portfolios: Diversified mix of equity and bond ETFs. Risk levels from conservative to growth.
• Socially Responsible Investing (SRI) portfolios: ETFs that screen for ESG (environmental, social, governance) criteria. Slightly higher MERs.
• Halal portfolios: Shariah-compliant investing that avoids interest, alcohol, tobacco, weapons, and certain financial companies.

Wealthsimple Trade: The Self-Directed Platform

Wealthsimple Trade is a commission-free self-directed brokerage. Unlike Wealthsimple Invest, you choose your own investments and execute trades manually. There are no management fees — you just pay the ETF's MER.

Wealthsimple Trade Key Features

• Commission-free: $0 for all Canadian and US stock and ETF trades
• Fractional shares: Buy as little as $1 worth of any stock or ETF — no need to buy whole units
• Auto-Invest: Schedule automatic recurring purchases of a chosen ETF — the only major Canadian brokerage offering this for ETFs
• Account types: TFSA, RRSP, FHSA, non-registered, crypto
• No minimum balance: Start with any amount
• CIPF member: Yes

Wealthsimple Trade Tiers

• Basic (free): Commission-free trading, TFSA/RRSP/FHSA, delayed quotes, CAD accounts only
• Premium ($10/month or $100/year): Instant deposits up to $5,000, USD account (avoid currency conversion), real-time data, higher crypto limits

USD Account — Why It Matters

Wealthsimple Trade's basic tier only offers CAD accounts. When you buy a US-listed stock or ETF, it automatically converts your CAD to USD at a 1.5% spread — both ways. Premium ($10/month) unlocks a USD account, letting you hold USD directly and avoid repeated conversion costs. For investors who regularly buy US stocks or want to do Norbert's Gambit, Premium pays for itself quickly.

Wealthsimple Invest vs. Wealthsimple Trade: Which to Choose?

Choose Wealthsimple Invest if:

• You want a completely hands-off, automated investment experience
• You're a beginner who doesn't want to choose your own ETFs
• You want automatic rebalancing without any manual effort
• The extra 0.40–0.50% fee is worth the convenience to you

Choose Wealthsimple Trade if:

• You want to pick your own ETFs (e.g., XEQT or VGRO)
• You want zero management fees (pay only ETF MER of ~0.20%)
• You want fractional shares for small, regular purchases
• You want the Auto-Invest feature for fully automated DCA into your chosen ETF

Wealthsimple Cash Account

Wealthsimple also offers a high-interest Cash account (their version of a savings account) earning competitive interest rates. Premium members earn a higher rate. Cash balances are held at a network of Canadian banks and are CDIC-insured up to $300,000 (through multiple member institutions). This makes it a practical place to park an emergency fund or short-term savings while using Wealthsimple Trade for investing.

Wealthsimple Security and Regulation

Wealthsimple Investment Management Inc. is registered as a portfolio manager and exempt market dealer with provincial securities regulators. Wealthsimple Financial Corp. (operating Wealthsimple Trade) is an IIROC-registered investment dealer and CIPF member. Client assets are held at a custodial institution separate from Wealthsimple, protecting them in the event of Wealthsimple's insolvency.