Wealthsimple is the simplest way to invest like the world’s smartest investors. In five minutes, we'll build you a custom plan and show you how much you can have in the future. Over 1 million clients trust Wealthsimple to manage more than $5 billion.
Wealthsimple Promotion
Get $25 bonus when you open and fund your first Wealthsimple Invest account with at least a $500 initial deposit. Trade and Cash accounts are not eligible.
Wealthsimple Makes Investing Easy
Wealthsimple is an online professional investing service in both US and Canada, also referred to as a robo-advisor. They use low cost index fees and smart technology to keep your investment costs low.
Instead of trying to beat the market, they invest in the market as a whole. This diversification allows you to avoid putting all your eggs into one stock and can smooth out your returns and minimize your losses. A lot of people try to time the market, and end up losing a lot of money.
Wealthsimple makes investing easy.
What is a Robo Advisor?
A robo-advisor is an online, automated portfolio management service. Because these companies use computer algorithms — a set of rules to choose appropriate investments based on your risk tolerance and time horizon — robo-advisors can offer their services for a fraction of the cost of a human financial advisor.
That lower-cost management, combined with features like automatic portfolio rebalancing and tax-loss harvesting, can translate into higher net returns for investors. A robo-advisor is a good fit for you if you prefer to be largely hands-off with your investments — letting someone else do the work of building and optimizing your portfolio — and you don’t have the kind of complex financial situation that requires a direct relationship with a human financial advisor.
To help you pick the best robo advisor for you, we are covering a Wealthsimple review which is a highly regarded robo advisor.
You can read more about the best robo advisors here.
Who Wealthsimple For?
Wealthsimple is for people who are investing for the long term. It’s best for people who are contributing regularly to their investments (remember you should be doing some investing for your future every month) commonly known as dollar cost averaging. This is when you are putting in money on a regular on-going basis.
Wealthsimple Fees & Pricing
Wealthsimple has no account minimum, which should undoubtedly attract new investors who might not have enough cash to reach higher minimums charged by some other financial advisors.
As for fees, the robo advisor charges 0.5% on all accounts with $100,000 or less (however, the first $5,000 is always free).
After that threshold, the account type changes to Wealthsimple Black, which has a 0.4% fee and unlocks additional features.
Wealthsimple Trade
Simple, $0 fee stock trading for Canadians.
Wealthsimple Trade is a stock-trading service that lets you buy and sell stocks and exchange-traded funds (ETFs) through a simple mobile app, with $0 commissions and no account minimums.
What is Wealthsimple Trade?
Wealthsimple Trade is a stock-trading service that lets you buy and sell stocks and exchange-traded funds (ETFs) through a simple mobile app, with $0 commissions and no account minimums. There are a lot of investing apps, but Wealthsimple is one of the best.
Which financial products can I buy and sell using Wealthsimple Trade?
Wealthsimple supports over 8,000 publicly-traded common stocks and exchange-traded funds (ETFs) listed on major Canadian and U.S. exchanges.
How is Wealthsimple Trade different from Wealthsimple?
Wealthsimple Trade is a brokerage that allows you to buy and sell stocks and ETFs with no trading commissions. Wealthsimple Trade is a self-directed platform and doesn't offer any financial advice or recommendations. Wealthsimple is an automated investing service that manages your investments for you — including your RRSP and TFSA — using a personalized portfolio of low-fee exchange-traded funds. Wealthsimple also offers savings accounts and provides financial advice.
I'm new to investing. Should I use Wealthsimple or Wealthsimple Trade?
If you're looking to grow your savings over the long-term, a diversified, low-fee portfolio that is rebalanced regularly — like the ones Wealthsimple's automated investing offers — is the smartest way to do that. But that doesn't mean there's no place for buying and selling individual stocks — so long as it's done responsibly as part of a holistic financial plan.
How is Wealthsimple Trade different from the big banks and other discount brokerages?
Some important differences are that Wealthsimple Trade is completely mobile, charges no commissions on trades, and has no minimum balance. We use technology to drastically reduce our operating costs by eliminating the things that make traditional brokerages expensive — like bank branches, large teams, and legacy systems.
Wealthsimple Trade is simple, jargon-free, and human — everything Canadians have come to expect from Wealthsimple. Opening an account takes minutes, and mere seconds for existing Wealthsimple clients.
Wealthsimple Trade is a division of Canadian ShareOwner Investments Inc. and is similar to other brokerages in that it is a registered investment dealer and a member of the Investment Industry Regulatory Organization of Canada (IIROC).
How does Wealthsimple Trade make money if there are no commissions?
Wealthsimple Trade makes money on currency exchange for US trades, and they plan on launching premium features in the future that will carry fees. They will publish a clear pricing and fee schedule before the product is available.
Who is eligible for Wealthsimple Trade?
Wealthsimple Trade will be available in Canada only. In order to open a Wealthsimple Trade account, you must:
- Be a Canadian citizen, Canadian resident, or have a valid Canadian visa
- Be at least 18 years old
- Have a valid Social Insurance Number
- Have a Canadian address
How do I open a Wealthsimple Trade account?
All early-access users will receive specific instructions on how to download the app and open an account. Opening an account should take only a few minutes and is done entirely from the mobile app. First you'll need to enter a few personal details so we can confirm your identity and comply with regulatory requirements. Then you'll link a bank account to Wealthsimple Trade, so you can fund your account and start trading. No paperwork required.
To sign up, you'll need to enter some or all of the following:
- Full name
- Mailing address
- Social Insurance Number (SIN)
- Date of Birth
- Employment details (employer name, job title)
The Best Part About Wealthsimple
It’s so easy to get started. You can do it all online and you don’t have to go in anywhere and sign papers. It’s simple. I signed up and it took me under 5 minutes and got my first $10,000 managed for free.
Wealth Simple Promo Code
Get $25 bonus when you open and fund your first Wealthsimple Invest account with at least a $500 initial deposit. Trade and Cash accounts are not eligible.
Wealthsimple vs. Other Brokerages
| Brokerage | Account Mimimum | Fees | |
|---|---|---|---|
 | $0 | $0 | |
 | $0 | $0 | |
 | $0 | $0 |
Wealthsimple Promotion
Get $25 bonus when you open and fund your first Wealthsimple Invest account with at least a $500 initial deposit. Trade and Cash accounts are not eligible.
