Wealthsimple is an app-first Canadian investing company that combines self-directed trading (Wealthsimple Trade), managed ETF portfolios, a Chequing account, crypto and tax software under one login. This review covers what it costs to invest there as of September 2026, how the Core, Premium and Generation tiers change those costs, and who it suits. For the wider field of brokers, see the online broker comparison.
Wealthsimple at a glance
| Feature | Details |
|---|---|
| Stock and ETF commission (Wealthsimple Trade) | $0 |
| Equity options | $0 per contract (other trade fees can apply) |
| US trades from a CAD account | 1.5% currency conversion |
| USD account | $10/month at Core; included at Premium and Generation |
| Margin | Available; CAD rate 4.95% (Core) to 3.95% (Generation) |
| Managed investing fee | 0.5% (Core), 0.4% (Premium), 0.2% to 0.4% (Generation) |
| Crypto | a flat 0.5% plus the spread |
| Monthly account fee and minimum | $0 and none |
| Registered accounts | TFSA, RRSP, spousal RRSP, FHSA, RESP, RRIF, LIRA, plus non-registered accounts |
Wealthsimple Trade and managed investing
Wealthsimple Trade is the self-directed side: you choose and trade Canadian and US stocks, ETFs, options and crypto yourself, and Wealthsimple also lists margin, IPO access and futures under Trade. Managed investing is the robo-advisor side: Wealthsimple picks and rebalances an ETF portfolio for you for an annual fee. Balances in both count toward the same tier, so you can hold some money in each without losing tier benefits.
Core, Premium and Generation tiers
Your tier depends on the total you hold across all Wealthsimple products, not on a subscription.
| Tier | Assets held at Wealthsimple | Managed investing fee | USD account | CAD margin rate |
|---|---|---|---|---|
| Core | Under $100,000 | 0.5% | $10/month | 4.95% |
| Premium | $100,000+ | 0.4% | Included | 4.45% |
| Generation | $500,000+ | 0.2% to 0.4% | Included | 3.95% |
Stock and ETF commissions are $0 at every tier. The tier also sets the interest rate on the Chequing account; the Wealthsimple Chequing review has the current rates.
Buying US stocks at Wealthsimple
Currency conversion is the main cost of investing at Wealthsimple, and there are two ways it applies.
Trading US securities from a CAD account. Each purchase and each sale is converted at a 1.5% fee, at every tier. On a $5,000 purchase that is $75, and selling later converts again.
Using a USD account. You convert CAD to USD once, then buy and sell US securities in US dollars with no further conversion. The conversion into the USD account is priced by the size of each conversion:
| Amount converted at once | Conversion fee |
|---|---|
| Under $10,000 | 1.5% |
| $10,000 to $24,999.99 | 1.0% |
| $25,000 to $99,999.99 | 0.5% |
| $100,000 or more | 0% |
Converting $30,000 in one go, for example, costs $150, while three separate $10,000 conversions would each be charged at 1.0%. At the Core tier the USD account itself costs $10 a month, or $120 a year, which is worth weighing against how much you actually convert. Other routes to US exposure, including Canadian-listed ETFs that need no conversion and Norbert’s Gambit at brokers that support journaling, are compared in how to buy US stocks from Canada.
Managed investing
Wealthsimple’s managed portfolios are built from low-cost ETFs, rebalanced automatically, and available in TFSAs, RRSPs, FHSAs, RESPs and non-registered accounts. The management fee is 0.5% a year at Core and 0.4% at Premium, charged on top of the ETFs’ own fees. How that compares with Questwealth, Justwealth and CI Direct Investing is covered in the robo-advisor comparison, and the two-way match-up is in Wealthsimple vs Questwealth.
Pros and cons
| Pros | Cons |
|---|---|
| $0 stock and ETF trades and $0 options contracts | 1.5% conversion on US trades from a CAD account |
| No monthly account fee or minimum | USD account costs $10/month at Core |
| Self-directed, managed, chequing and crypto from one company | Each CAD-to-USD conversion under $10,000 still costs 1.5% |
| Lower managed fee and margin rate as assets grow | Instant withdrawals to a debit card cost 2.5% (standard withdrawals take 1 to 3 business days) |
| Wide range of registered accounts, including FHSA, RESP, RRIF and LIRA | Crypto held on the platform is not covered by CIPF |
Who Wealthsimple suits
- New investors and buy-and-hold ETF investors who want $0 commissions, automatic deposits and a simple app.
- People who want everything with one company: investing, a chequing account and tax filing.
- Investors who move between hands-off and hands-on, since managed and self-directed accounts sit side by side.
It suits heavy US-stock buyers less well unless they convert in large amounts, since each conversion below $10,000 into the USD account still costs 1.5%. For active traders comparing platforms and costs, the Wealthsimple vs Questrade comparison and Wealthsimple vs Interactive Brokers set out those differences, and the Questrade review and Interactive Brokers Canada review cover each broker in full.
Opening an account or moving one in
Accounts are opened online, then funded by bank transfer. To move an existing TFSA, RRSP or other account from another institution, Wealthsimple starts the transfer on your behalf; the steps, timelines and fees are in the guide to transferring to Wealthsimple.
Sources
The figures and rules on this page come from these sources. How we check facts.
- wealthsimple.com: Compare Generation, Premium, and Core Plans & Fees | Wealthsimple