# Wealthsimple Canadian app for commission-free stocks, ETFs, options and crypto, plus TFSAs and RRSPs Source page: https://trust.chartnaut.com/brokers/wealthsimple Website: https://www.wealthsimple.com Type: Stocks & ETFs, Options, Futures, Crypto Founded: 2014 Based in: Toronto, Canada Minimum deposit: None Markets: Stocks, ETFs, Options, Futures, Crypto Platforms: Own platform / app Deposits and withdrawals: Bank transfer ## Overview Wealthsimple is a Toronto fintech that started in 2014 and has turned into a one-stop money app for Canadians. It suits beginners and long-term investors who want cheap stock and ETF trading, registered accounts and banking in one place. Active traders who need serious charts will find it thin. The brokerage side is Wealthsimple Investments Inc., a member of the Canadian Investment Regulatory Organization (CIRO), so eligible accounts get CIPF protection. Crypto isn't covered by CIPF. It's only open to Canadian residents. ### Accounts and costs You can open a non-registered Trade account, a TFSA, an RRSP or spousal RRSP, plus RESPs and other registered plans, all with no minimum deposit. Stocks and ETFs trade commission free and equity options cost $0 per contract. The catch is currency conversion: buying US stocks in a CAD account costs up to 1.5%. Managed portfolios charge 0.50% or less. Margin is available, with leverage depending on each security's CIRO margin requirement, and bigger clients move up to Premium and Generation tiers with extra perks. ### Platforms and markets Everything runs in Wealthsimple's own app and web platform. The web version has some TradingView-powered charts, but you can't trade through TradingView, MT4 or MT5. You can buy over 14,000 Canadian and US stocks and ETFs, including fractional shares, plus options, crypto and, in beta, futures on major indices and commodities. ### Money in and out You fund by linked bank account or transfer, and deposits up to $250,000 can be available to trade instantly. Standard withdrawals are free and take a few business days. Instant withdrawals to a linked debit card cost 2.5%. Wealthsimple will reimburse transfer-out fees from your old broker when you move at least $25,000. ## Good - Commission-free Canadian and US stocks and ETFs, and $0 equity options contracts - No minimum deposit and fractional shares - TFSA, RRSP, spousal RRSP and other registered accounts - Low-fee managed portfolios alongside self-directed trading - Crypto, futures (beta) and margin in the same app - CIRO member with CIPF protection ## Watch for - Up to 1.5% currency conversion on USD trades - Basic charting and no TradingView, MT4 or MT5 trading - 2.5% fee on instant withdrawals to a debit card - Only available to Canadian residents - Poor Trustpilot rating, with complaints about account locks ## Regulation - CIRO: Wealthsimple Investments Inc. - SEC / FINRA (Investment adviser filing with the SEC (Form ADV)): Wealthsimple US, Ltd. Investor protection: CIPF coverage for accounts held with Wealthsimple Investments Inc.; crypto assets are not covered - Fractional shares: yes - Tax-advantaged accounts: yes ## Accounts and costs | Account | Min deposit | Pricing | Max leverage | | --- | --- | --- | --- | | Wealthsimple Trade (non-registered) | None | $0 commission on stocks and ETFs, $0 per equity options contract; currency conversion fee of up to 1.5% on USD trades | Margin up to about 3.33x, depending on each security's CIRO margin requirement | | TFSA | None | Same commission-free trading as Wealthsimple Trade, or a managed portfolio | — | | RRSP and spousal RRSP | None | Same commission-free trading as Wealthsimple Trade, or a managed portfolio | — | | Managed investing | None | Management fee of 0.50% or lower | — | | Crypto | None | No commission, cost built into the spread | — | ## What traders say Checked 2026-10-06. - Trustpilot: 1.4 / 5 from 622 reviews (https://www.trustpilot.com/review/wealthsimple.com) - App Store (Canada): 4.6 / 5 from 128,000 reviews (https://apps.apple.com/ca/app/wealthsimple/id1403491709?see-all=reviews&platform=iphone) - Reviews.io: 1.3 / 5 from 168 reviews (https://www.reviews.io/company-reviews/store/wealthsimple-com) - Sitejabber: 1.6 / 5 from 3 reviews (https://www.sitejabber.com/reviews/wealthsimple.com) - Forex Peace Army: no score (https://www.forexpeacearmy.com/forex-reviews/19386/wealthsimple-stock-brokers) - BBB complaints: no score (https://www.bbb.org/ca/on/toronto/profile/investment-management/wealthsimple-financial-inc-0107-1332403/complaints) - Reddit: no score (https://www.reddit.com/r/Wealthsimple/comments/1smesf6/any_regret_moving_to_wealth_simple/) Wealthsimple's reviews depend heavily on where you look. It holds 1.4 on Trustpilot from about 620 reviews and 1.3 on Reviews.io from about 170, while its iPhone app is rated 4.6 from about 128,000 ratings, according to Forbes Advisor Canada. The complaint sites draw people with a problem, and Reddit's Canadian finance communities, where many everyday users post, are mostly positive about it. ### What traders like - **Low or no fees.** Reddit users often say they moved from a bank brokerage to stop paying per-trade commissions, and some long-time users see no drawbacks for buy-and-hold investing in Canadian listings. - **Everything in one app.** People like having investing, chequing, a card and tax filing in one place, and some say the interface is far easier than the big banks'. - **Transfer matches and promos.** Many Reddit users mention moving money over for the deposit match offers. ### Common complaints - **Frozen accounts and held money.** The largest group of Trustpilot and BBB reviews describe accounts locked for re-verification or source-of-funds checks, sometimes for weeks or months, with little contact while it lasts. - **Slow support.** Several say email-only support is slow, including for large transfers on the Premium tier, and that there is no phone line to call. - **Promotions refused.** A number of reviewers say a transfer match they were told they qualified for was later denied. - **Banking glitches.** Some Trustpilot and Reddit users report rejected pre-authorized payments, cancelled bill payments and mistaken withdrawals from linked bank accounts. - **Currency costs.** Reddit users warn that conversion fees on US stocks can cost more than the commissions saved. Several Reviews.io and Sitejabber reviews promote fund recovery services, so those pages are a weak signal. ### Recently No dated reviews from the last 90 days in our sources. Hardbacon's August 2026 review still flags account freezes and slow withdrawals as the main user complaint. ### Where this comes from - [Trustpilot](https://www.trustpilot.com/review/wealthsimple.com): Wealthsimple's main review page. - [App Store (Canada)](https://apps.apple.com/ca/app/wealthsimple/id1403491709?see-all=reviews&platform=iphone): app ratings and reviews. - [Reviews.io](https://www.reviews.io/company-reviews/store/wealthsimple-com): customer reviews. - [Sitejabber](https://www.sitejabber.com/reviews/wealthsimple.com): three reviews. - [Forex Peace Army](https://www.forexpeacearmy.com/forex-reviews/19386/wealthsimple-stock-brokers): a listing with little activity. - [BBB complaints](https://www.bbb.org/ca/on/toronto/profile/investment-management/wealthsimple-financial-inc-0107-1332403/complaints): complaints filed with the Better Business Bureau. - [Reddit](https://www.reddit.com/r/Wealthsimple/comments/1smesf6/any_regret_moving_to_wealth_simple/): users comparing Wealthsimple with other Canadian brokers. --- Information gathered from public sources (company websites, regulator registers, third-party review sites). Ratings are quoted from those sources and are not the opinion of Chartnaut.com. Not financial advice. Trading carries a high risk of loss. Questions or corrections: help@chartnaut.com. Methodology: https://trust.chartnaut.com/methodology