Wealthsimple Review Canada 2026

Wealthsimple Trade offers completely free trades on TSX and NYSE/NASDAQ-listed stocks and ETFs. No per-trade commissions. Key features in 2026:

• $0 commissions on all stock and ETF trades (CAD and USD)
• Fractional shares — invest as little as $1 in any stock or ETF
• TFSA, RRSP, FHSA, and non-registered accounts
• Commission-free ETF purchases and sales (including popular all-in-ones like XEQT, VEQT)
• Wealthsimple Premium ($10/month): USD account to avoid currency conversion fees, plus priority support

Best for: Beginners and passive ETF investors who buy Canadian ETFs regularly and want the simplest possible experience.

Limitation: US stock trades convert currency at the point of trade (with a 1.5% spread on the Core plan) unless you upgrade to Premium. For US-heavy portfolios, this adds up.

Wealthsimple's original product — an automated portfolio management service (robo-advisor). You answer a few risk tolerance questions, and Wealthsimple builds and manages a portfolio of ETFs automatically. Annual management fee: 0.50% (Core) or 0.40% (Generation, for $500K+). The underlying ETFs also have their own MERs (~0.20%), so total cost is approximately 0.70%/year. This is significantly cheaper than traditional mutual funds (often 2%+) but more expensive than self-directing with a single all-in-one ETF (0.20%/year).

Best for: People who want truly hands-off investing and don't want to choose or manage their own ETFs. The simplicity is worth the extra ~0.50%/year for many investors.

Wealthsimple Tax is Canada's best free tax filing software for most Canadians. Key features:

• 100% free for simple returns (T4, RRSP, TFSA, investment income)
• Automatically imports your T4 and T3/T5 slips via CRA auto-fill
• Supports all provinces and territories
• NETFILE certified — file directly with CRA
• Handles employment income, investment income, rental income, self-employment (T2125)

Verdict: Every Canadian under 35 should use Wealthsimple Tax unless their return is genuinely complex (business incorporation, foreign income, etc.).

Wealthsimple Cash is a high-interest cash account (not a traditional bank account) that earns competitive interest on your balance — currently approximately 3.75% (Core) or 4.25% (Premium) in 2026. It includes a Visa card for spending, unlimited e-Transfers, and no monthly fees. Unlike KOHO, it doesn't offer cash back on purchases but the interest rate on the balance is higher.

Best for: Emergency fund storage or short-term savings where you want a higher return than a bank's basic savings account.