Updated March 2025 · 10 min read

Wealthsimple Review 2025: Is It Worth It?

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Overall: 4.2 / 5

Bottom Line: Wealthsimple is Canada's leading fintech platform — excellent for beginners, casual investors, and people who want everything in one place. Power users and cost-obsessed investors may find Questrade more capable.

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

Product	What It Does	Cost
Wealthsimple Trade	Self-directed stock and ETF trading	Free (Premium $3/mo for CAD/USD accounts)
Wealthsimple Invest	Automated robo-advisor portfolios	0.40–0.50% management fee
Wealthsimple Cash	High-interest savings + spending	Free
Wealthsimple Tax	Free Canadian tax filing	Free (pay-what-you-want)
Wealthsimple Crypto	Buy/sell crypto	1.5–2% spread

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

Premium Worth It? If you buy U.S.-listed ETFs or stocks regularly, Premium pays for itself. One $1,000 USD trade saves $15 in FX fees vs the $3/month cost.

Pros and Cons

Pros	Cons
Commission-free trades	1.5% FX fee on USD without Premium
Clean, intuitive app	Limited order types (no stop-limit on free tier)
No minimum investment	No mutual funds or bonds
TFSA, RRSP, FHSA available	No options trading
Fractional shares	Customer support can be slow

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

Feature	Wealthsimple	Questrade
ETF trades	Free	Free (buys only)
Stock trades	Free	$4.95–$9.95
USD account	$3/month Premium	Included
Options trading	No	Yes
Interface	Beginner-friendly	More advanced
Robo-advisor	Yes (Wealthsimple Invest)	Yes (Questwealth)

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