Since making its debut in 2014, Wealthsimple has helped to demystify investing for tons of of 1000’s of standard folks in Canada who need to develop their cash. The corporate’s success to this point is unquestionable. 

As of Might 2025, Wealthsimple’s AUA (property underneath administration) has been valued at over $70 billion, and its on-line funding administration instruments have gained a number of awards. In March 2019, Wealthsimple launched Wealthsimple Commerce, a self-directed funding platform. It instantly attracted a lot of consideration for its means to permit Canadians to purchase and promote particular person shares and ETFs (exchange-traded funds) with zero fee charges. A couple of year-and-a-half later, Wealthsimple made one other splash when it added cryptocurrencies to its Commerce choices. As of 2024, Commerce isn’t any extra a separate app, however is a part of their one all-inclusive app—known as simply “Wealthsimple.”

Wealthsimple now gives three worth ranges, primarily based on how a lot cash you maintain on their platform:

Questioning for those who ought to commerce shares and ETFs on Wealthsimple? Right here, we current its professionals and cons, and take a deep dive into its options—together with its value construction, so you possibly can determine for your self. 

Wealthsimple Commerce professionals and cons

That will help you make your resolution, we break down the positives and negatives of utilizing Wealthsimple for buying and selling.

The professionals

• Wealthsimple Commerce was one of many first commission-free buying and selling platforms in Canada. Most of its opponents cost a minimal of $4.95 and as much as $9.95 (or extra) per commerce.
• There aren’t any annual account charges or account minimums.
• You get free entry to 1000’s of shares and ETFs listed on North America’s largest exchanges, such because the New York Inventory Change (NYSE) and the Toronto Inventory Change (TSX). Plus, it gives dozens of cryptocurrencies, together with bitcoin (BTC) and ethereum (ETH)—which might be a con relying on the day.
• You should purchase fractional shares in corporations, equivalent to Microsoft, Netflix, Tesla, Shopify, Royal Financial institution of Canada, Toronto Dominion Financial institution, and the Canadian Nationwide Railway Co. With fractional investing, you possibly can personal a small piece of those corporations even for those who don’t have adequate cash to purchase one whole share.
• You’ll be able to open registered accounts equivalent to a tax-free savings accounts (TFSAs) and registered retirement savings plans (RRSPs) in addition to non-registered accounts—known as a “private” account on the Wealthsimple app. Cryptocurrencies are held in a separate non-registered “crypto” account as a result of they don’t seem to be TFSA or RRSP eligible.
• You’ll be able to deposit your cash immediately to start buying and selling immediately. You’ll be able to immediately deposit as much as $3,500. It will depend on a number of components just like the amount of cash you maintain on Wealthsimple and your prior buying and selling exercise on Wealthsimple.
• Actual-time, on-demand quotes and limitless worth alerts at the moment are free to all Wealthsimple Commerce purchasers.
• The Wealthsimple Commerce app is engaging, clear and intuitive; even first-time traders will discover it straightforward to make use of. The “browse” function on the app kinds trending shares by totally different markets and classes. There may be additionally an internet platform for customers preferring to commerce on their laptop computer or desktop moderately than their cell machine.
• Wealthsimple is a reliable monetary model. As talked about above, its AUA was valued at over $70 billion as of Might 2025, and it has an estimated three million prospects. Wealthsimple can also be regulated by the IIROC (Investment Industry Regulatory Organization of Canada) and the CIPF (Canadian Investor Protection Fund)—similar to the funding wings of the massive banks.
• Wealthsimple gives automated dividend reinvestments, which robotically use your dividends to buy further shares or fractional shares of the identical funding. You’ll be able to flip this function on/off by way of the cell app’s settings, and reinvestments sometimes happen inside one to 2 enterprise days when markets are open.

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The cons

• Presently, customers can commerce shares, ETFs and choose cryptocurrencies. Mutual funds and IPOs should not accessible.
• Need to purchase U.S. shares equivalent to Google (GOOGL), Amazon (AMZN), Tesla (TSLA) and others? Know that you just’ll must pay a forex conversion price until you have got a USD account. To carry U.S. investments in U.S. forex with out paying the forex conversion price, you’ll have to get a USD account, which is free for Premium and Technology purchasers however $10 a month for Core purchasers. Each buy and sale of a U.S. inventory with no USD account includes forex conversion.
• There’s a lack of in-depth funding analytics. Whereas this decreases litter and makes it simpler for beginner traders to navigate, seasoned traders might want extra granular commerce knowledge on their screens.
• Be warned for those who’re in a rush to withdraw your funds, as a result of it could take one to a few enterprise days to withdraw funds out of your buying and selling accounts. For crypto, it’s two to a few enterprise days and out of your money account, it’s one to 2 enterprise days. Nevertheless, you may get on the spot withdrawals by linking your debit card to your account. Observe that on the spot debit card withdrawals carry a 2.5% withdrawal price, there’s a withdrawal restrict of $5,000 per transaction, and never all debit playing cards are presently supported.

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Is Wealthsimple Commerce good?

Whether or not you’re a first-time investor or a seasoned one—passive or energetic—Wealthsimple is an easy, cheap platform for purchasing and promoting Canadian or U.S. shares and ETFs. For many who need to put money into different property (equivalent to mutual funds, bonds, international equities or treasured metals), Questrade or one other online brokerage could also be a greater different. Identical goes for individuals who want entry to detailed buying and selling instruments and analytics.

Wealthsimple Commerce detailed overview

Making a Wealthsimple Commerce account

Whether or not you’re signing up in your cell or laptop, it’s quite simple and it takes only a few minutes. Enter your e-mail tackle and a password of your selecting. If you have already got a Wealthsimple account, simply use your present login information. Then the app/website will information you thru the remaining. You’ve the choice of opening any mixture of a private (non-registered) account, a TFSA, an RRSP or a crypto account. As of 2025, you possibly can open registered retirement income funds (RRIFs) and locked-in retirement accounts (LIRAs) with Wealthsimple Commerce.

Tips on how to put cash in your Wealthsimple Commerce account

When you’ve ever used PayPal or made an Interac e-Switch, you’ll discover this simply as straightforward. It’s important to hyperlink your checking account to your Wealthsimple Commerce account and enter the quantity you need to transfer. The each day and per-transaction limits are $1,000,000 CAD or USD for financial institution transfers (three to 5 enterprise days), $3,000 CAD for e-Transfers (on the spot), and $3,500 CAD for debit card deposits (on the spot), whereas direct deposits and wire transfers haven’t any limits.

If you wish to transfer cash from one Kind of Wealthsimple account to a different—say out of your shares and ETF account to both your managed investing (robo-advisor) account or your crypto account—it’s fast and straightforward to do that from throughout the Wealthsimple app.

What are you able to commerce with Wealthsimple Commerce?

Wealthsimple presently helps shares and ETF trades from the biggest inventory exchanges in North America. That features the Toronto Inventory Change (TSX), New York Inventory Change (NYSE), TSX Enterprise Change (TSVX), NASDAQ, NEO, Cboe, Canadian Securities Change (CSE) and the BATS trade. There are additionally restricted securities accessible on the BATS Change. 

Your funding portfolio needn’t have a U.S. or Canadian bias. You’ll have entry to ETFs listed on the above-mentioned exchanges which put money into varied components of the world, together with Asia and Europe. Since most ETFs are broad primarily based and observe a selected inventory index, you’ll be capable to achieve funding publicity to international equities in a easy, environment friendly and cost-effective method.

When you’re taking a passive, long-term strategy to investing, you possibly can access iShares and Vanguard ETFs and construct a super “sofa potato” funding portfolio—for a low value. You’ll simply must pay the administration expense ratio (MER) of the ETF(s) you’re invested in. For instance, the present MER of the VFV (Vanguard’s S&P 500 Index ETF for Canada) is a mere 0.09%. If you wish to take a extra energetic strategy to your investments, or for those who’re trying to diversify your portfolio, you should buy all the things from emerging-market ETFs to cryptocurrency ETFs.

Whereas you should buy ETFs that put money into international shares, you possibly can’t really purchase particular person shares exterior of these accessible of the main U.S. and Canada exchanges. So, you possibly can’t, for instance, purchase particular person shares from the likes of the Bombay Inventory Change (BSE) or the Hong Kong Inventory Change (HKG). Aside from ETFs that observe varied different nations or areas, there are tons of of American depositary receipts (ADRs) of world corporations which are traded on U.S. exchanges. And there are non-U.S. corporations that inter-list their shares on U.S. inventory exchanges, equivalent to Toyota and AstraZeneca.

Tips on how to purchase shares and ETFs on Wealthsimple Commerce

Shopping for shares and ETFs on Wealthsimple Commerce is as straightforward because it will get. Merely log into your account, search the inventory by identify or its three- or four-letter ticker image and choose the safety you’d like to purchase. Then select the account by which you need to purchase it. That might be a RRSP, TFSA or private account. Then choose your most well-liked kind of purchase order, whether or not it’s market, fractional, restrict or stop-limit. 

A market order is a direct purchase by which the commerce is executed at the perfect accessible worth available on the market at that second. A fractional order is for fractional shares solely and is put by way of on the finish of the day (or subsequent accessible buying and selling day). And restrict and stop-limit orders permit you to set upfront the utmost worth you’re prepared to pay for the safety.

Subsequent enter the variety of shares you’d like to purchase, click on “purchase,” overview your order and choose “place order.” And also you’re executed! 

To assist information your decisions, you may also entry snapshots of trending and high shares throughout varied market segments and classes. Once more, these could be discovered with only a click on or two. The general expertise is intuitive, so novice traders are unlikely to really feel intimidated.

Buying and selling crypto with Wealthsimple Commerce

Wealthsimple is thought for being a secure and straightforward method to make investments, so this addition to the app is unquestionably attention-grabbing. You can begin your account with a minimal of $1 (however that’s not going to purchase you a lot). You get entry to over 50 cryptocurrencies, together with present costs in addition to historical past charts. Crypto trades value 2% (for “core” customers), 1% (for “premium” customers) and 0.5% (for “technology” customers). There aren’t any further charges on high of that. And there are by no means any charges to deposit or withdraw cash.

It is best to know that utilizing this platform doesn’t provide you with your personal crypto pockets. As an alternative, the pockets is managed and managed by Wealthsimple—as is the case with all centralized crypto exchanges. When you maintain crypto elsewhere—say on different exchanges or in your personal wallets, you possibly can securely switch cash to or out of your exterior wallets with only a few faucets or clicks.

While you add the flexibility to purchase and promote crypto in your account, Wealthsimple is nice in speaking a number of the dangers. So actually learn the disclaimer—don’t simply examine the field to maneuver on to the following display prefer it’s an internet cookies settlement. 

That is the place you’ll study how your crypto property are held—in a pool of Wealthsimple’s digital property. Additionally, you will examine who shouldn’t make investments. For instance, those that want to drag from retirement funds, scholar loans, their mortgage, emergency funds or different sources of cash which are essential to their on a regular basis life and well-being. Backside line? Investing in crypto is dangerous, and Wealthsimple communicates that to its customers.

The app educates customers about varied crypto investments dangers, together with its comparatively quick historical past, excessive volatility, demand-dependent worth, technical and cyber safety threats, and way more. Additionally, you will do a fast quiz in your crypto information and threat tolerance. 

Your crypto investments are a part of a non-registered account on Wealthsimple. Which means you’ll have to pay taxes on any positive aspects you make. Observe: You’ll be able to put money into crypto not directly in your registered accounts like TFSAs and RRSPs by shopping for ETFs that maintain cryptocurrency. However cryptocurrency itself will not be an eligible funding for registered accounts.  

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Watch: Investing in cryptocurrency (and crypto ETFs)

Widespread questions on Wealthsimple Commerce

Are there actually no fee charges?

Sure, actually! It’s a huge a part of Wealthsimple’s success. A lot of its opponents cost a flat fee of round $5 to $10 per commerce or a share of your commerce worth. Whether or not you’re a passive investor or an energetic dealer, your general return may gain advantage from not having to pay buying and selling commissions. Nevertheless, it might be prudent to not over-trade just because it’s free!

What’s Wealthsimple Commerce’s value construction? 

If there aren’t any fee charges, how does Wealthsimple Commerce cowl its prices and earn revenue, you would possibly surprise. In keeping with Wealthsimple, its earnings come primarily from a 1.5% forex trade price charged on Canadian-to-U.S. greenback conversions (and vice-versa). For the reason that primary plan doesn’t embody U.S. greenback accounts, these conversions are mandatory for buying and selling U.S.-listed securities.

As beforehand talked about, you possibly can keep away from these overseas trade charges by getting a free USD account as a Premium or Technology consumer, or for $10 per 30 days as a Core consumer.

While you purchase or promote a cryptocurrency, you’ll pay  a buying and selling price of 0.5% to 2% per transaction (relying in your tier/plan).  Additionally, you’ll pay USD$0.75 per contract for buying and selling choices.

Wealthsimple does cost a comparatively small price for varied atypical companies. For instance, $45 for a broker-assisted telephone commerce, $20 for a paper account assertion, or $30 for an incoming or outgoing wire switch. Nevertheless, for those who’re contemplating buying and selling on Wealthsimple, these companies are most likely not a excessive precedence for you.  

Is there something you can’t purchase on Wealthsimple Commerce?

Sure. However for those who’re a passive, long-term investor with out a whole lot of expertise, you’re most likely not going to thoughts. 

Wealthsimple purchasers are restricted to buying and selling shares, ETFs and choices. So, if you wish to, for instance, purchase mutual funds or take part in an organization’s preliminary public providing (IPO), you’ll must go elsewhere. For that reason, some traders could go for different low cost brokerages equivalent to Qtrade or Questrade. 

Whereas these platforms should not as straightforward to make use of as Wealthsimple (and have totally different price constructions), they do supply a wider vary of securities to commerce—together with mutual funds. Wealthsimple can also be restricted to inventory exchanges inside North America, subsequently ruling out main worldwide exchanges.

Is Wealthsimple Commerce secure?

For sure, for those who plan to maneuver cash—regardless of how small the quantity—by way of an internet platform, you’d be involved about safety. You’ll be able to take consolation in realizing Wealthsimple’s services and products are extensively trusted, they usually’ve gained a number of awards for its service. 

Roughly three million prospects have positioned their belief in Wealthsimple, and the platform presently has greater than $70 billion in property underneath administration. Additionally, Wealthsimple’s main proprietor, Power Corporation of Canada, is a 100-year-old-plus establishment, with over $450 billion in property and 30,000 workers.

A further layer of consolation: Wealthsimple is regulated by the Investment Industry Regulatory Organization of Canada—like all of Canada’s main monetary establishments. And traders’ property are insured by the Canadian Investor Protection Fund (CIPF)—as per CIPF guidelines.

Do you have to make investments with Wealthsimple Commerce?

Wealthsimple’s aim was to assist Canadians who have been intimidated by the seemingly advanced world of investing. For brand spanking new traders searching for long-term progress by way of shares and ETFs, Wealthsimple could match their wants nicely. A phrase of warning, although: Whereas no-commission buying and selling can prevent cash, self-directed traders ought to take into account the dangers of frequent buying and selling: which is perhaps extra tempting with a platform like Wealthsimple. And analysis exhibits that doing so can lead to no progress and misplaced revenue.

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