Wealthsimple review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Wealthsimple puts everyday banking and investing in a single Canadian app, so it suits beginners as well as more experienced investors who want cash and portfolios in the same place. The chequing account pays a headline rate of 1.25% to 2.25% on a variable basis, and trading runs from a mobile app.
Key facts
- Best for
- Canadian savers and first time investors who want cash, interest and a portfolio in a single app.
- Minimum deposit
- CA$0↗
- Stock trade fee
- CA$0↗
- Account fee
- CA$0↗
- Markets
- Stocks, ETFs, Options, Crypto, Futures↗
- Regulators
- Canadian Investment Regulatory Organization (CIRO), Ontario Securities Commission, Money services business registration under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada)↗
- Currency conversion fee
- 0%↗
- Margin rate
- 3.95%↗
- Options contract fee
- CA$0↗
- Account types
- Joint, Corporate↗
- Interest on cash
- 1.25%↗
- Legal entity
- Wealthsimple Technologies Inc.↗
- Headquarters
- Canada↗
- Founded
- 2014↗
- Support channels
- Chat, Email, Phone, Help-centre↗
- Features
- Crypto, Fractional shares, Mobile app
- Pricing model
- Commission-free
- Audience
- Beginners, Experienced traders
- Official website
- wealthsimple.com
Credit cards
Crypto exchanges
Debit cards
Savings
Robo-advisors
Facts checked September 26, 2026, 13 sources
Pros and cons
Pros
- Cash interest of 1.25% is calculated daily and paid monthly.
- Crypto trades cost 0.5% a trade, and cash withdrawals carry only the blockchain network fee.
- Support runs on chat, email and phone, so phone and chat sit alongside a help centre.
Cons
- Cash returns trail the field, as 1.25% sits under the site median of 3%.
- The margin rate is 3.95%, well above the cash interest of 1.25%.
- Coins are held in custodial custody, so they sit with Wealthsimple rather than in a wallet you control.
Who it suits
- Canadian households who want spending, interest and investing handled together.
- First time investors, since the minimum investment is CAD 1 and fractional shares are available.
- People who need joint and corporate accounts to hold money on behalf of someone else.
Who should look elsewhere
- Not for people who want a euro bank account, because bunq works in euros and sets a minimum deposit of €10.
- Not for traders who want one focused venue, since CFI covers a single market and lists a minimum deposit of $0.
Rates and terms
The cash account pays 1.25%, and the headline rate runs 1.25% to 2.25%. Because the rate is variable, the low end of that range is the figure a rate cut leaves you on and the high end is what a rise delivers, so the interest on your balance can move through the year.
Where it sits among rivals
On the measures many readers weigh, Wealthsimple sits at 1 of 142 brands for account fee, 1 of 218 for minimum deposit and 1 of 166 for stock trade fee. Holding a spot in all three columns is unusual, and it makes the brand easy to shortlist when cost matters more to you than the feature list.
How Wealthsimple compares
9.3 vs 9.4
9.3 vs 8.7
9.3 vs 8.3
9.3 vs 8.5
9.3 vs 9.4
9.3 vs 9.3
9.3 vs 8.7
9.3 vs 9.2Its stock trade fee is $0, the same as here, so the deciding factor is the range of markets and coins.
9.3 vs 8.7
9.3 vs 8.6
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.0
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.1
9.3 vs 9.0
9.3 vs 9.0
9.3 vs 9.0
9.3 vs 9.0
9.3 vs 8.8
Where Wealthsimple is available
- Available
- Canada
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does it cost to open a Wealthsimple account?+
The account fee is CAD 0 and the minimum deposit is CAD 0, so there is nothing to pay before you start. Stock trades cost CAD 0 and options cost CAD 0. The monthly charge on the cash account is CAD 0 as well, and the cards run on Visa.
How much interest does the cash earn?+
The cash account pays 1.25% and the headline rate covers 1.25% to 2.25%, so the figure you see depends on where rates sit. The rate is variable, which means it can change rather than staying fixed for a set period. Interest is calculated on the balance and paid out regularly.
Who regulates Wealthsimple?+
The brand lists Canadian Investment Regulatory Organization (CIRO), Ontario Securities Commission and Money services business registration under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) as the authorities behind its operations, and the entity named in its terms is Wealthsimple Technologies Inc.. The business is based in Canada, and its crypto side is registered for money services under Canadian anti money laundering law. Crypto holdings sit in custodial custody rather than a wallet you hold the keys to.
How do I deposit and withdraw money?+
You can fund the account by card and bank. Cash withdrawals carry only the blockchain network fee rather than a Wealthsimple charge, and the chequing side gives on demand access through a Visa Platinum Prepaid card, Interac e Transfers, bill pay and direct deposit.
What can I buy and sell?+
The trading account covers stocks, etfs and options, and the coin list runs to from 170. Trading features include crypto, fractional shares and mobile app, so fractional shares can be held from a mobile app. Derivatives are offered alongside the cash and portfolio side of the same account.
Which account types are there?+
It is an easy access account, so cash comes out on demand, and you can also open joint and corporate accounts for other people. Managed portfolios come in etf, cash and crypto flavours, and the management fee is 0.5%. A chequing account sits alongside for everyday spending.
Who is Wealthsimple aimed at?+
It is built for beginners and experienced, so first time investors and more seasoned ones can use the same app. The minimum investment is CAD 1, which keeps the starting point low, and fractional shares spread a small amount across holdings.
Sources
- en.wikipedia.org/wiki/Wealthsimple checked September 26, 2026
Backs: Founded
“Founded: September 2014”
- help.wealthsimple.com/hc/en-ca/articles/29448182409499-We... checked September 26, 2026
Backs: Account types
“Wealthsimple Joint Chequing account ... This Promotion does not apply to clients under the Wealthsimple for Business”
- help.wealthsimple.com/hc/en-ca/search checked September 26, 2026
Backs: Fiat deposit methods
“Make a deposit from a linked bank account ... Link and deposit funds with a debit card ... Wire funds to your Wealthsimple account”
- wealthsimple.com/en-ca checked September 26, 2026
Backs: Card kind, Headquarters
“Wealthsimple Credit card”
- wealthsimple.com/en-ca/chequing checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Rate type
“Your interest is an annualized rate that's calculated daily and paid out monthly”
- wealthsimple.com/en-ca/credit-card checked September 26, 2026
Backs: Annual fee, Cashback rate, Perks, Rewards rate, Rewards type
“No annual fees”
- wealthsimple.com/en-ca/legal/crypto-product-risk-disclosure checked September 26, 2026
Backs: Regulators
- wealthsimple.com/en-ca/legal/fees/crypto checked September 26, 2026
Backs: Maker fee, Taker fee, Withdrawal fee
“You pay a flat 0.5% Baseline Trading Fee on every order ... Limit orders are never charged a spread”
- wealthsimple.com/en-ca/legal/relationship-disclosure checked September 26, 2026
Backs: Derivatives, Exchange type
“We offer the ability to trade exchange-traded securities, including equities, investment funds, options, and crypto assets”
- wealthsimple.com/en-ca/legal/terms checked September 26, 2026
Backs: Legal entity
“published by Wealthsimple Technologies Inc.”
- wealthsimple.com/en-ca/pricing checked September 26, 2026
Backs: Account fee, Free ATM withdrawals, Audience, Card type, Interest on cash, Currency conversion fee, Management fee, Minimum deposit, Minimum investment, Pricing model, Monthly fee, Card network, Portfolio types, Stock trade fee, Support channels
“Monthly account fees $0”
- wealthsimple.com/en-ca/trade checked September 26, 2026
Backs: Features, Margin rate, Markets, Options contract fee
“Buy and sell stocks, ETFs, options, crypto, and more”
- wealthsimple.com/en-ca/trade/crypto checked September 26, 2026
Backs: Coins listed, Custody
“We have BTC, ETH, SOL and more than 170+ other cryptocurrencies that you can trade, transfer, and deposit”
Compiled from 13 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Inactivity fee, Investor protection, Retail accounts that lose money.
Wealthsimple
Canadian savers and first time investors who want cash, interest and a portfolio in a single app.