Wealthsimple

4.1(1.700 reviews)

Canadian neobroker with commission-free stock trading

IIROC RegulatedSince 2014

Trust Score

Very Good

Ready in 2 minutes

* External link. BeInOptions receives no compensation from this broker. All information is for educational purposes only and does not constitute investment advice.

0 CAD

Min. Deposit

Instruments

IIROC

Regulation

Platforms

Key Features

Stocks

Stocks trading available

ETFs

ETFs trading available

Crypto

Crypto trading available

Wealthsimple App

Trading Platform

Wealthsimple Web

Trading Platform

Advantages

Commission-free stock and ETF trading
Very user-friendly app
Fractional shares available
Automated portfolios (robo-advisor)

Disadvantages

Only available for Canadian customers
1.5% FX fee on US stocks (without Premium)
No advanced trading tools

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* External link. BeInOptions receives no compensation from this broker. All information is for educational purposes only and does not constitute investment advice.

About Wealthsimple

Wealthsimple was founded in 2014 in Toronto and is Canada's leading neobroker. As an IIROC-regulated provider, Wealthsimple has popularized commission-free stock trading in Canada. The platform combines simple trading with automated wealth management through an integrated robo-advisor. The product range includes stocks, ETFs, and cryptocurrencies – all tradable without commission. A 1.5 percent FX fee applies for US stocks, which can be reduced to 0 percent with the Premium subscription. Fractional shares enable entry even with small amounts. No minimum deposit is required. Wealthsimple is particularly suitable for Canadian beginners and passive investors seeking a user-friendly app with commission-free trading. The integrated robo-advisor offers automated portfolios for customers who don't want to actively manage their investments. However, advanced trading tools are missing.

Wealthsimple FAQ

Is trading at Wealthsimple really commission-free?

Yes, trading Canadian and US stocks as well as ETFs is commission-free. However, a 1.5% FX fee applies for US stocks, which is waived with the Premium subscription.

What is the Wealthsimple robo-advisor?

Wealthsimple's robo-advisor creates and manages automated portfolios based on your risk profile. It invests in diversified ETF portfolios and rebalances automatically.

Does Wealthsimple offer fractional shares?

Yes, Wealthsimple offers fractional shares, allowing you to invest in expensive stocks with small amounts.

Is Wealthsimple available outside Canada?

No, Wealthsimple is currently only available for Canadian customers. A Canadian residence and social insurance number are required.