Self-Directed Trading
$0-commission Canadian and US stocks and ETFs, no account minimum, fractional shares and recurring buys.
Wealthsimple Review 2026
Fees, products, safety, and the account tiers, an honest look at Canada's biggest all-in-one money app, plus how to stack a $25 welcome bonus with code _Y024Q.
Wealthsimple has grown from a niche robo-advisor into Canada's largest online brokerage, with over 3 million clients and a product line that now spans investing, banking, crypto, and taxes. This review covers what it does well, where it falls short, and whether the $25 sign-up bonus is worth claiming.
Quick verdict
For the vast majority of Canadians, especially beginners, hands-off investors, and anyone tired of big-bank fees, Wealthsimple is the easiest recommendation on the market. You get $0 commission stock and ETF trading, a genuinely high interest rate on cash, built-in crypto, and free tax filing, all wrapped in the best-designed finance app in the country. Active options traders and those who want a desktop trading terminal will find it thinner than a platform like Questrade, but for everyone else it's hard to beat.
New to Wealthsimple? Claim your $25 with code _Y024Q.
Sign up & get $25Fees & pricing
Fees are where Wealthsimple shines. There are no commissions on Canadian and US stock and ETF trades, and no account minimums on its self-directed accounts. Here's how the main costs break down:
| Service | Wealthsimple cost |
|---|---|
| Stock & ETF trades (self-directed) | $0 commission |
| Account minimum | $0 |
| Managed (robo) portfolio | 0.5% / yr (Core), 0.4% (Premium+) |
| USD on stock trades | 1.5% FX conversion (Core) |
| Crypto trading spread | ~1–2% operations fee |
| Tax filing | Free (pay-what-you-want) |
| Inactivity / account fees | None |
The two costs to watch are the 1.5% currency conversion on USD trades (waived or reduced on higher tiers, or avoidable with a USD account on Premium) and the crypto spread. For buy-and-hold Canadian investors, your all-in cost is effectively zero.
Accounts
Wealthsimple supports every major registered and non-registered account in Canada, and all of them qualify for the referral bonus. Open whichever fits your goal, or hold several at once under a single login:
TFSA
Tax-free growth and withdrawals.
RRSP
Tax-deferred retirement savings.
FHSA
Tax-free first-home savings.
RESP
Education savings with grants.
Personal
Non-registered, no limits.
Cash
High-interest everyday banking.
Crypto
50+ coins with staking.
Core, Premium & Generation tiers
Your tier is based on total assets across your Wealthsimple accounts, and it unlocks better rates and perks:
| Tier | Assets | Key perks |
|---|---|---|
| Core | $0+ | Full product access, free trading, the referral bonus |
| Premium | $100K+ | Higher cash interest, lower FX fees, priority support |
| Generation | $500K+ | Top interest rate, dedicated advisor, in-depth planning |
The Household feature lets two people at the same address combine balances to reach a higher tier together, while keeping each person's individual balances private.
Products & features
Separate from the accounts above, Wealthsimple bundles a full suite of products and tools that most Canadians would otherwise spread across several apps and providers:
Managed Investing
Expert-built, auto-rebalanced portfolios from a 0.4–0.5% management fee, including SRI and Halal options.
Options
Trade calls and puts with no per-contract commission, right in the app, a rarity among Canadian brokers.
Mortgages
Competitive rates and a fully digital application, with preferred rates for Premium and Generation clients.
Tax
Free NETFILE-certified filing with Auto-fill my return and a maximum-refund guarantee. Filing alone keeps you bonus-eligible.
Predict
An upcoming event-contracts feature, open an account now to be ready when it launches.
Fractional shares
Buy expensive stocks like Amazon or Shopify from just $1, so any budget can build a diversified portfolio.
Is Wealthsimple safe?
Yes. Wealthsimple is regulated by the Canadian Investment Regulatory Organization (CIRO), and investment accounts are protected by the CIPF up to $1 million per category. Cash held in Chequing is held with CDIC member institutions and insured up to $1,000,000, ten times the standard $100K. Security includes 256-bit encryption, two-factor authentication, and biometric login. Millions of Canadians trust it with their retirement savings.
Pros & cons
👍 What we like
$0 commission trading and no account minimums · best-in-class app design · high-interest cash with a no-FX card · crypto and tax filing built in · $1M CDIC coverage · a real $25 sign-up bonus for new clients.
👎 Where it's weaker
No advanced options trading or pro desktop terminal · 1.5% USD conversion on the Core tier · crypto spreads aren't the cheapest · phone support is limited at the Core level.
Who Wealthsimple is best for
After weighing the trade-offs, here's our quick read on who should (and shouldn't) make Wealthsimple their main platform:
- Beginners, the simplest onboarding and app in Canada, with no minimum to start.
- Hands-off investors, the managed portfolio does the work; set a recurring deposit and forget it.
- Fee-conscious DIY investors, $0-commission ETFs and stocks keep costs near zero.
- People consolidating their money, investing, banking, crypto, and taxes in one place.
- Less ideal for, active options traders and those who need a pro desktop terminal or USD registered accounts; see Wealthsimple vs Questrade.
How we assessed Wealthsimple
This review is based on hands-on use of the Wealthsimple app, published fee schedules, and the company's regulatory disclosures, cross-checked against its official site. We focus on the factors that matter most to everyday Canadians, total cost, ease of use, account selection, safety, and the value of the welcome bonus, rather than niche features most people never touch. Figures such as interest rates and contribution limits change over time; where a number may shift, we point you to the authoritative source (Wealthsimple or the CRA). We update this page as products and rates change, and the referral code is re-verified monthly.
The $25 bonus & code _Y024Q
New clients can claim a $25 cash bonus using referral code _Y024Q. Sign up via the invite link, open any eligible account, and deposit at least $100 from an external bank within 30 days. The $25 is paid to your Cash account within 24 hours of the deposit settling, with no impact on your TFSA or RRSP room. See the full step-by-step guide or browse current promotions for stackable transfer offers.
Referral code
_Y024Q
Wealthsimple review FAQ
The questions readers ask most when deciding whether Wealthsimple is right for them.
Yes. Wealthsimple is Canada's largest online brokerage, regulated by CIRO, with CIPF protection up to $1M on investments and CDIC coverage up to $1,000,000 on cash. It uses encryption, 2FA, and biometric login.
Self-directed stock and ETF trading is commission-free with no account minimum. You'll pay a 0.4–0.5% fee only if you choose a managed portfolio, a ~1.5% currency conversion on USD trades (Core tier), and a crypto spread if you trade coins.
There isn't a meaningful one. You must be a new client, sign up with code _Y024Q, and deposit at least $100 within 30 days. The $25 is paid to your Cash account. See how to claim it.
For investing and everyday banking costs, generally yes, far lower fees, higher cash interest, and no-FX spending. Big banks still win on in-person branches and certain specialized services.
