Wealthsimple: The all-in-one investment platform

To the point Whether you're an investment novice or an expert, Wealthsimple offers you an all-in-one investment platform to help you achieve your financial goals.

Investing has never been easier or more accessible! With Wealthsimple, you have access to an all-in-one investment platform that allows you to invest with ease and manage your assets wisely. Whether you’re an investment novice or an expert, Wealthsimple offers a diverse range of investment products and services to meet your needs as an investor.

In this article, we’ll explore investment products, account types, features, protections and more.

What is Wealthsimple?

Wealthsimple is an investment management company that was founded in 2014 in Canada. Today, Wealthsimple has more than three million clients and over C$30 billion in assets under management.


It offers a diversified range of investment products and services, including :

  • Managed investing: tailored investment portfolios, alternative investments and specialist advice
  • Self-directed investing: trading in stocks, exchange-traded funds (ETFs) and options
  • Spend & Save: high-interest chequing account (up to 5%), with no monthly fees and no minimum balance
  • Crypto: trading over 60 cryptoassets on Canada’s first regulated cryptocurrency platform
  • Tax filing: tax platform starting at $0

For the past 10 years, Wealthsimple has been disrupting the Canadian financial services industry with its technology, product and service offerings. For example, Wealthsimple was the first online brokerage platform in Canada to offer free trading, with no administration fees or minimum balances.

More recently, Wealthsimple is one of the few online brokers to offer fractional share purchases and the automatic purchase of assets (stocks, ETFs and cryptoassets) on the timetable of your choice.

Wealthsimple investment products

Wealthsimple - Managed investing

For investment novices, Managed Investing (formerly known as “Wealthsimple Invest”) is an investment platform that combines a robo-advisor with access to an investment advisor.


Managed investing - Investment portfolios

Tailor-made investment portfolios are selected according to your investor profile and investment horizon, then double-checked by an advisory team. This team is also responsible for asset allocation, portfolio rebalancing and dividend reinvestment.

There are no transaction fees or minimum balances. Management fees range from 0.4% to 0.5%, depending on the account balance.

The portfolios offered are :

  • Classic portfolio: diversified portfolio of low-cost ETFs.
  • Socially responsible investing: portfolio made up of socially responsible companies.
  • Halal investing: a portfolio that complies with Islamic law.

Managed investing - Account types

The types of accounts offered are :

  • RRSP (registered retirement savings plan) and spousal RRSP
  • TFSA (Tax-Free Savings Account)
  • FHSA (First Home Savings Account)
  • LIRA (locked-in retirement account)
  • RESP (Registered Education Savings Plan)*
  • Non-registered account
  • Corporate account

*For Quebec residents, please note that Wealthsimple does not allow you to receive the minimum 10% QESI (Quebec Education Savings Incentive) grant.

Managed investing - Features

As your assets grow, you unlock new features:

  • Core ($1 in assets): automatic portfolio rebalancing and 0.5% management fee
  • Premium ($100,000 in assets): financial planning and 0.4% management fee
  • Generation ($500,000 in assets): dedicated advisory team plus Core and Premium client features

Wealthsimple - Self-directed investing (Stocks and ETFs)

For more experienced investors, Self-directed investing (Stocks and ETFs), formerly known as Wealthsimple Trade, is an online brokerage platform. This platform allows self-directed investors to buy and sell over 9,000 stocks and exchange-traded funds (ETFs), with no commissions, no administration fees and no account minimums.

The platform enables trading in equities and ETFs on Canadian exchanges (TSX, NEO and CSE) and U.S. exchanges (NYSE and NASDAQ).


Self-directed investing - Features

The most interesting features include :

  • Instant trading: up to $50,000 in instant deposits for Core customers and up to $250,000 for Premium and Generation customers.
  • Commission-free U.S. dollar transactions for only $10 per month, avoiding exchange fees (this feature is available free of charge to Premium and Generation customers).
  • Dividend reinvestment plan: automatic reinvestment of dividends, commission-free.
  • Fractional share purchase: buy stocks or exchange-traded funds (ETFs) with as little as $1.
  • Automatic purchase plan: buy stocks, ETFs and cryptoassets automatically, at the frequency you want.
  • Extended hours trading: Buying and selling stocks and ETFs during extended hours (7 a.m. to 8 p.m. EST) before the opening and after the closing of financial markets.
  • Stock lending: functionality for lending shares to other investors, enabling you to earn passive income from your portfolio.

Self-directed investing - Features

As your assets grow, you unlock new features:

  • Core ($1 in assets): commission-free trading, instant deposits up to $50,000, 1.5% foreign exchange fee per transaction.
  • Premium ($100,000 in assets): commission-free trading, free U.S. dollar account, instant deposits up to $250,000, no commission on foreign exchange fees.
  • Generation ($500,000 in assets): comprehensive financial plan plus Core and Premium client features.

Wealthsimple - Options

For advanced traders, Wealthsimple offers a service that lets you trade stock options.

Although investment strategies involving the use of options are generally more complex, Wealthsimple has developed interfaces to simplify the understanding of options, but also to help you understand the benefits and risks.


As with previous investment products, you unlock new features as your wealth grows:

  • Core ($1 of assets): USD 2 per contract
  • Premium ($100,000 in assets): U.S. dollar account, USD 0.75 per contract
  • Generation ($500,000 in assets): comprehensive financial plan plus Core and Premium customer features

Wealthsimple - Cryptocurrencies

For investors looking to diversify their investments, Wealthsimple Crypto enables trading in over 60 cryptoassets on their regulated platform, including Bitcoin, Ethereum and Solana.

What’s more, you can stake some of your cryptocurrencies and earn up to 12% in rewards per year. Note that rewards vary from one cryptocurrency to another.


As with previous investment products, you unlock new features as your wealth grows:

  • Core ($1 in assets): 2% trading fee, free deposits and withdrawals
  • Premium ($100,000 in assets): 1% trading fee
  • Generation ($500,000 in assets): 0.5% trading fee

Other Wealthsimple products and services

Wealthsimple - Spend & Save (Cash)

Wealthsimple Spend & Save (formerly known as “Wealthsimple Cash”) is a hybrid account consisting of a chequing account with no monthly fee and no minimum balance, a high-interest savings account and a Mastercard debit card.


The interest rate varies between 4% and 5% depending on your asset level. In fact, the Wealthsimple chequing account is one of the best high-interest savings accounts in Canada. Plus, you get a 0.5% reward when you set up your payroll deposit, up to a maximum of 5%.

Finally, you can earn 1% rewards (in stocks, cryptocurrencies or cash) on purchases made with your Wealthsimple card. As an added bonus, if you regularly travel outside the country, the Wealthsimple Card has no foreign exchange charges on foreign transactions or at ATMs.


Don’t worry! Your money is safe, because Wealthsimple offers insurance coverage of up to $500,000 on all eligible deposits.


To find out more about Wealthsimple Cash, read the full guide :

Wealthsimple - Tax filing

Wealthsimple Tax filing is an online tax platform that makes it easy to prepare and submit your tax returns. You can fill out and send in your declaration for as little as $0.


Several plans are available. For example, the Basic package is free, while the Plus package includes audit protection (cost: $40 – free for Premium customers). Finally, the Pro* package includes advice from a tax specialist (cost: $80 – free for Generation customers).

*Please note that the Pro package is not currently available to Quebec residents.


The advantages of Wealthsimple for investing in Canada

The benefits of using Wealthsimple for investment and banking services are many, including:

  • No or low fees: Wealthsimple offers products and services with no or low fees, unlike its competitors.
  • Accessibility : Wealthsimple makes investing accessible to everyone, whether you’re an investment novice or an expert. You can start using Wealthsimple products and services for as little as $1.
  • Diversification: portfolios managed by Wealthsimple are diversified and tailored to each investor, to reduce risk and maximize returns.
  • Ease of use: Wealthsimple’s platforms are user-friendly and the interfaces are simple to use, which is ideal for investment beginners.
  • Functionality: Wealthsimple’s products and services have functionalities that are rarely, if ever, offered by its competitors. For example, Autonomous Investing (Equities and ETFs) offers transactions with no trading fees, no administration fees and no minimum balances. All this, plus features such as fractional share purchase, automatic purchase plan, extended hours trading and share lending.

How do I invest with Wealthsimple?

To start investing with Wealthsimple, follow these simple steps:

  1. Registration: Create an online account by filling in the form.
  2. Product: Select the investment product that best suits your financial needs and objectives, for example: Stand-alone investments (equities and ETFs).
  3. Deposit: Fund your account by transferring money from your bank account to your Wealthsimple account.
  4. Investing: Once your account has been created and funded, you can start investing and using other Wealthsimple products and services.



What are the Wealthsimple fees?

Fees vary depending on the products and services you use. But also according to the assets you hold with Wealthsimple. As your assets grow, certain fees are reduced and new benefits are unlocked.


For example, management fees for Wealthsimple Invest range from 0.4% to 0.5% of your assets under management. In addition, Premium customers receive free financial planning services.

Another example is Wealthsimple Trade, which lets you invest in stocks and ETFs with no commissions, no administration fees and no account minimums.

What’s more, Premium customers get a U.S.-dollar account with no fees and no commission on exchange charges. Generation customers receive a complete financial plan free of charge.

Finally, when you transfer your investment accounts of $15,000 or more to Wealthsimple, any transfer fees charged by your (former) broker will be refunded.


Is it safe to invest with Wealthsimple?

Of course you can! Wealthsimple is a registered portfolio manager in Canada. Their broker, Wealthsimple Investments Inc. is a member of the Investment Industry Regulatory Organization of Canada(IIROC). Wealthsimple clients’ accounts are protected by the Canadian Investor Protection Fund(CIPF).

The Wealthsimple Cash account places funds in trust with up to five Canada Deposit Insurance Corporation (CDIC) member institutions, insuring eligible deposits up to $500,000 in coverage.

Bottom Line

In conclusion, Wealthsimple is a comprehensive investment platform offering a range of products and services to meet your financial needs.

Whether you’re a novice or an experienced trader, Wealthsimple offers a low-cost solution tailored to your needs: managed investments, stand-alone investments, a Crypto platform, and more.

In addition, other financial products are offered, such as the Spend & Save account and the Wealthsimple Tax filing software. This brings all products and services under one roof.

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Vincent Morin
My name is Vincent and I've been a stay-at-home parent to two young boys since achieving financial independence in 2021 (FIRE). Previously, I worked for 12 years in financial technology for a major US investment bank (G-SIB). I'm passionate about personal finance, stock market investing, reading, writing, cycling and gardening. I'm also the founder of Retraite 101, a personal finance blog followed by over 20,000 people on social networks and quoted in several media, blogs and finance books. Despite early retirement, I continue to write about personal finance to share my passion with Quebecers and motivate them to take charge of their finances.

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