Updated March 2025 · 10 min read

Wealthsimple Review 2025: Is It Worth It?

Overall: 4.2 / 5

Wealthsimple has grown from a simple robo-advisor into a full-service Canadian fintech platform. In 2025, it offers commission-free stock and ETF trading (Wealthsimple Trade), automated investing (Wealthsimple Invest), a high-interest cash account (Wealthsimple Cash), and free tax filing (Wealthsimple Tax). This review covers all four products.

Wealthsimple Products Overview

Wealthsimple Trade Review

Key Features

• Commission-free trades on TSX and NYSE/NASDAQ listed stocks and ETFs
• TFSA, RRSP, FHSA, and non-registered accounts
• Fractional shares available on select securities
• Real-time quotes (Premium tier)
• No minimum account balance

Fees

• Free tier: Commission-free trades, 1.5% currency conversion on USD trades
• Premium ($3/month): Separate USD account (avoids 1.5% FX on every U.S. trade), real-time quotes, unlimited instant deposits

Pros and Cons

Wealthsimple Invest (Robo-Advisor) Review

Wealthsimple Invest is a fully automated investing service. You complete a risk questionnaire and money is invested in a diversified ETF portfolio. Available portfolios include Conservative, Balanced, Growth, Halal (Islamic finance compliant), and SRI (socially responsible).

Fees

• Under $100,000: 0.50% annual management fee
• Over $100,000 (Wealthsimple Black): 0.40% annual management fee
• Underlying ETF MERs: approximately 0.15–0.25%
• Total all-in cost: approximately 0.60–0.75%

This is more expensive than DIY ETF investing (0.20–0.25% all-in) but far cheaper than bank mutual funds (1.5–2.5%). See our robo-advisor comparison for alternatives.

Wealthsimple Cash Review

Wealthsimple Cash is a hybrid savings/spending account with a competitive interest rate. It offers a Visa card for spending and earns interest on your full balance. Unlike a big bank savings account, there are no monthly fees and the interest rate is typically higher than big bank offerings.

Who Should Use Wealthsimple?

• Beginners: Clean interface, no minimum, great for learning
• Passive investors: Wealthsimple Invest handles everything automatically
• Tax filers: Wealthsimple Tax is the best free Canadian tax software
• People who want one platform: Trade, invest, save, and file taxes in one app

Who Should Consider Questrade Instead?

• Active traders needing advanced order types
• Investors holding options, bonds, or mutual funds
• Investors who want research tools and charting
• Those with large U.S. equity positions (Questrade's Norbert's Gambit is easier)

Wealthsimple vs Questrade: Quick Comparison