Wealthsimple: Automated Investing & Financial Tools for Canadians
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Wealthsimple: Automated Investing & Financial Tools for Canadians
Wealthsimple is an all-in-one platform that makes investing, trading, and saving accessible for Canadians.
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Wealthsimple: Automated Invest...
What Is Wealthsimple?
Wealthsimple is a Canadian fintech platform that offers robo-advisory portfolios, self-directed trading, crypto investing, and integrated tax filing.
It’s designed to help Canadians manage their money simply, affordably, and responsibly—all from one intuitive app.
Wealthsimple Overview
| Offers | Best For | Minimum | Get Started |
|---|---|---|---|
| Robo Advisor | Diversified ETF portfolios with automatic rebalancing. | $0 | Learn more |
| Self-Directed | Commission-free stock and ETF trading on Canadian and U.S. exchanges. | $0 | Learn more |
How Wealthsimple Works
Whether you want a professionally managed portfolio, commission-free trading, or a high-interest savings account, Wealthsimple offers an easy and low-cost solution.
- Sign up online or through the mobile app.
- Complete a questionnaire to assess your goals and risk profile.
- Choose between managed investing, trading, savings, or crypto.
- Start building wealth with automated portfolios or self-directed tools.
Key Features & Benefits
| Feature | Benefit |
|---|---|
| Zero Minimum | Start with $0 whether investing or trading. |
| Low Fees | Managed portfolios charge 0.4%–0.5%, lower than traditional banks. |
| Commission-Free Trades | Trade stocks, ETFs, and crypto with no trading fees. |
| Socially Responsible Portfolios | Invest in ethical, halal, or sustainable funds. |
| All-in-One Platform | Invest, trade, file taxes, and save in one easy-to-use app. |
Who Is It For?
- Canadian residents looking for a full-service financial app
- New investors wanting simple, automated portfolios
- DIY investors interested in commission-free trades
Pricing & Fees
- Managed Investing: 0.4%–0.5% annually based on balance
- Self-Directed Trading: $0 commissions; 1.5% currency conversion for USD trades
- High-Interest Savings: No monthly fees
- Crypto Trading: Fees included in spread
Trust & Security
- Regulated by the Canadian Investment Regulatory Organization (CIRO)
- Accounts protected by CIPF in case of insolvency
- Data security with bank-level encryption
FAQs about Wealthsimple
Is Wealthsimple only for Canadians?
Yes, Wealthsimple currently serves Canadian residents only.
Does Wealthsimple have tax-loss harvesting?
No, it does not currently offer automated tax-loss harvesting.
What account types are supported?
Wealthsimple supports RRSP, TFSA, RESP, personal accounts, and more.
| Account Types | Individual |
|---|---|
| Fees & Pricing | % of Assets |
We appreciate your honest feedback. Share your real experience to help others make confident money decisions.
Jason Vitug –
Wealthsimple: Is it right for you?
Wealthsimple is a legitimate service offering one of the best in class robo-advisor service for millennials. If you’re looking to align your investing with your values, Wealthsimple makes it simple to do so.
Although the fees may be higher compared to Betterment or Wealthfront, you do get more compared to those robo-advisors. For one, you get access to financial experts to discuss your portfolio and goals. That’s usually reserved for the highest net worth folks.