Updated: April 2025  |  bremo.io financial guides

Wealthsimple Review Canada 2025 — Is It Right for You?

Wealthsimple has become the most recognizable name in Canadian fintech investing. From its commission-free trading platform to its robo-advisor and cash account, Wealthsimple offers a suite of financial products that appeal to a wide range of Canadians. This review covers what Wealthsimple does well, its limitations, and who it's best suited for.

Wealthsimple Products Overview

Wealthsimple Trade

A commission-free self-directed brokerage. Buy and sell Canadian and US stocks and ETFs without trading fees. Offers TFSA, RRSP, FHSA, and non-registered accounts. The clean, intuitive interface makes it the go-to starting platform for most new Canadian investors.

Wealthsimple Invest

A robo-advisor that builds and manages a diversified portfolio of ETFs automatically. Completes a risk questionnaire, recommends a portfolio, and rebalances automatically. Management fee of 0.40% (Core) or 0.50% (Plus/Premium tier) on top of ETF MERs.

Wealthsimple Cash

A hybrid spending/savings account with a competitive interest rate. No fees, unlimited transactions, and a Visa debit card for spending. A strong alternative to big bank accounts for everyday banking.

Wealthsimple Crypto

Allows buying and selling of major cryptocurrencies. Higher spreads than dedicated crypto exchanges. Suitable for casual crypto exposure, not serious traders.

Wealthsimple Trade: Pros and Cons

Pros:

• Zero trading commissions on Canadian and US securities
• TFSA, RRSP, FHSA, non-registered accounts in one place
• Very beginner-friendly interface
• Strong mobile app
• Instant deposits available for Premium users

Cons:

• No options trading (until recently, limited rollout)
• USD accounts require a Premium subscription to avoid automatic currency conversion
• No mutual funds or bonds
• Fewer research tools than platforms like Questrade

Wealthsimple vs. Questrade

Questrade charges small commissions but allows free ETF purchases. It offers more account types (including margin) and more asset classes. For pure ETF investors who only buy and hold (not sell frequently), the cost difference is minimal. Questrade suits more active investors; Wealthsimple suits beginners and passive investors.

Is Wealthsimple Safe?

Wealthsimple is a regulated Canadian entity. Accounts are covered by CIPF (Canadian Investor Protection Fund) up to $1,000,000 per account type for investment accounts in the event of broker insolvency. CDIC protection covers Cash account deposits.