Wealthsimple Review 2026 — Trade, Invest & Cash

Canada's most popular investing platform — but is it right for you? We break down every product, fee, and feature.

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Wealthsimple Overview

Wealthsimple is Canada's largest fintech company, founded in Toronto in 2014. With over 3 million clients and $30+ billion in assets under administration, it offers one of the most comprehensive financial platforms available to Canadians — covering investing, trading, tax filing, banking, and crypto.

ProductWhat It DoesFee
Wealthsimple TradeCommission-free stock & ETF trading$0 (Plus: $10/month)
Wealthsimple InvestRobo-advisor portfolios0.50% (Core) / 0.40% (Black)
Wealthsimple CashHigh-interest cash account$0
Wealthsimple TaxFree tax filing (NETFILE)Free (premium available)
Wealthsimple CryptoCrypto trading1.5–2.0% spread

Wealthsimple Trade — Commission-Free Investing

Wealthsimple Trade is the gold standard for commission-free stock and ETF investing in Canada. Here's what you need to know:

Wealthsimple Plus ($10/month)

The Plus subscription adds: no FX fees on US trades (saving 1.5% per trade), real-time market data, instant deposits up to $50,000, and priority customer support. If you trade US stocks frequently, Plus pays for itself quickly.

Wealthsimple Invest — Robo-Advisor

Wealthsimple Invest builds and manages a diversified portfolio of ETFs automatically based on your risk profile. Available accounts: TFSA, RRSP, RESP, FHSA, LIRA, Non-Registered.

Pricing tiers based on portfolio size:

TierPortfolio SizeManagement FeePerks
Core$0–$99,9990.50%/yearBasic portfolio, human advisors
Black$100,000+0.40%/yearTax-loss harvesting, airport lounge access
Generation$500,000+0.40%/yearFinancial planning, dedicated advisor

Wealthsimple Cash — High Interest Account

Wealthsimple Cash pays 3.00% interest on your balance with no fees. It supports e-transfers and comes with a Visa debit card for spending. Joint accounts available.

How it compares to KOHO:

FeatureKOHO FreeWealthsimple Cash
Interest rateUp to 5%3.00%
Cash back1–2% (grocery/transit)1% all spending
Sign-up bonus$100 (code 45ET55JSYA)Varies
Credit buildingYes (add-on)No
Joint accountsNoYes

For daily spending and cash back, KOHO is the better choice. Wealthsimple Cash is ideal for investors who want everything in the Wealthsimple ecosystem.

Wealthsimple Pros and Cons

Pros

  • $0 commissions on all trades
  • All-in-one financial platform
  • $1 minimum to start investing
  • Fractional shares available
  • TFSA, RRSP, RESP, FHSA
  • Socially responsible portfolios
  • Free tax filing (Wealthsimple Tax)
  • Clean, intuitive mobile app

Cons

  • 1.5% FX fee on US trades (free with Plus)
  • Limited research tools vs. Questrade
  • Crypto spreads are high (1.5–2%)
  • No options trading
  • Customer service can be slow
  • No phone support (chat only)

Frequently Asked Questions

Is Wealthsimple safe?
Yes. Wealthsimple is regulated by CIRO (formerly IIROC) and is a CIPF member, protecting your investments up to $1 million per account type. Wealthsimple Cash is held at Canadian Western Bank (CDIC member). It's one of the most reputable fintechs in Canada.
Does Wealthsimple have a TFSA?
Yes. Both Wealthsimple Trade and Wealthsimple Invest offer TFSA accounts. You can hold stocks, ETFs, and GICs tax-free. The same account holds your TFSA — you contribute once and choose how to invest within it.
Is Wealthsimple Trade good for beginners?
Wealthsimple Trade is excellent for beginners. The interface is simple, commissions are $0, and you can start with $1. For complete beginners who want zero decision-making, Wealthsimple Invest (the robo-advisor) is even easier.

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