Wealthsimple Review 2026: Is It the Best Place to Invest?

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Wealthsimple is one of the most searched investing names in Canada. It puts managed portfolios, self-directed trading, a chequing account and a credit card in one app.

This Wealthsimple review looks at what each part costs, who it suits and where it falls short, using only numbers from Wealthsimple’s official pages.

Quick answer: Wealthsimple is a strong fit for beginners and hands-off investors who want low costs in one app. As of September 2026, managed investing costs 0.5% a year on the Core tier (from $1), stock and ETF trades are $0 commission, and the chequing account pays 1.25% to 2.25% interest depending on your tier. It is weaker for frequent US-stock traders: buying US-listed securities from a Canadian-dollar account carries a 1.5% currency conversion fee, and a US-dollar account costs $10 a month on Core.

Updated on September 23, 2026 · Sources: Wealthsimple pricing, Managed investing, Chequing

Key takeaways

What it is: a Canadian app for managed portfolios, self-directed stock and ETF trading, crypto, chequing and a credit card.
What it costs: 0.5% a year for managed investing on Core, 0.4% on Premium ($100,000+), and $0 commission on stock and ETF trades.
Who it suits: new investors, people who want a robo-advisor for a TFSA, RRSP or FHSA, and anyone who likes one app for everything.
Who it doesn’t suit: active traders of US stocks on the Core tier, and people who want an in-person advisor at a branch.
Our rating: 4 out of 5 for beginners and hands-off savers; lower for heavy US trading.

Pros and cons

$0 commission on stock and ETF trades, on every tier.
Managed investing starts at $1 in assets, with fees that drop as your balance grows.
Registered accounts in one place: TFSA, RRSP, FHSA, RESP, RRIF and more.
Chequing has $0 monthly account fees and pays interest.
1.5% currency conversion fee when a Canadian-dollar account trades US-listed securities.
US-dollar accounts cost $10 a month on the Core tier.
Crypto trades carry a 0.5% fee plus a spread, and crypto is not covered by CIPF.
No branches; everything happens in the app or online.

Costs and fees

Wealthsimple sorts clients into three tiers by assets: Core (from $1), Premium ($100,000+) and Generation ($500,000+). The tier sets most of your costs.

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Fee	Core (from $1)	Premium ($100,000+)
Managed investing fee	0.5% a year	0.4% a year
Stock and ETF trades	$0 commission	$0 commission
US trades from a Canadian-dollar account	1.5% conversion	1.5% conversion
US-dollar account	$10 a month	Included
Chequing interest	1.25%	1.75%
Crypto trades	0.5% + spread	0.5% + spread

Fees as of September 2026, from the Wealthsimple pricing page. Generation clients pay 0.2% to 0.4% for managed investing and earn 2.25% on chequing.

The managed fee is charged on top of the fees inside the ETFs that make up each portfolio. Wealthsimple’s managed investing page does not list those fund fees, so check the portfolio details in the app before you invest.

What you get for the money

Managed investing (the robo-advisor)

You answer questions about your goals and risk comfort, and Wealthsimple builds and rebalances a portfolio of ETFs. It is available in a TFSA, RRSP, spousal RRSP, FHSA, RESP, RRIF, LIRA and non-registered account. If you are saving for a first home, see our guide to the FHSA and how it works.

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Self-directed investing

You pick stocks and ETFs yourself, with $0 commission on trades and $0 per contract on equity options. If you prefer to choose funds on your own, our list of ETFs Canadians use for the long term explains what to compare first.

Chequing

The chequing account has $0 monthly account fees and no minimum balance fees. Wealthsimple says it reimburses eligible ATM fees worldwide. It also advertises an extra 0.5% interest boost for clients who direct deposit at least $2,000 within 30 days. To compare that rate with bank savings products, see our list of high-interest savings accounts in Canada.

Credit card

The Wealthsimple Visa Infinite+ pays an unlimited 2% cash back and charges 0% foreign exchange fees. It costs $240 a year ($20 a month), waived with $100,000+ in individual assets or $4,000+ a month in direct deposits. It requires a personal income of at least $80,000 or household income of at least $150,000. Our KOHO vs Neo vs Wealthsimple card comparison covers it in detail.

Is your money protected?

Protection depends on the product. Wealthsimple Investments Inc. is a member of the Canadian Investment Regulatory Organization (CIRO), and investing accounts are covered by the Canadian Investor Protection Fund (CIPF) within its limits. CIPF covers client property if a member firm becomes insolvent. It does not cover market losses.

Chequing balances are held in trust with members of the Canada Deposit Insurance Corporation (CDIC). Wealthsimple says it spreads them across partner institutions for up to $1 million in combined coverage. Wealthsimple itself is not a CDIC member. Crypto assets are not covered by CIPF.

Requirements and how to open an account

Where: sign up in the Wealthsimple app or on its website. There are no branches.
Minimum: the Core tier starts at $1 in assets.
Account choice: pick the account type first. Money in a TFSA grows tax-free under CRA rules, but only within your contribution room.
Transfers: to move an existing TFSA or RRSP, ask your current provider about its transfer-out fee first.

If Wealthsimple isn’t the right fit

The credit card has income rules, and the fee structure won’t suit everyone. If Wealthsimple is not a match, these are the main alternatives:

Another robo-advisor: Questwealth and RBC InvestEase are compared in our robo-advisor vs DIY guide.
A discount brokerage: Questrade, BMO InvestorLine and Qtrade also offer $0 commission stock and ETF trades.
No market risk: for money you need within a few years, compare GIC rates in Canada.

How we reviewed Wealthsimple

Checked: every fee, rate and requirement on September 23, 2026, on Wealthsimple’s official pricing, managed investing, chequing and card pages.
Protection: confirmed with Wealthsimple’s help centre, CIPF and CDIC.
Criteria: cost, account choice, ease of use, protection and fit for beginners.
Rating: our editorial view for a typical beginner, not a measure of returns.
Independence: Wealthsimple did not pay for this review or for placement.

Not financial advice. Investing involves risk, including loss of principal. Past returns don’t guarantee future results. Fees and terms checked on September 23, 2026 with Wealthsimple’s official pages; confirm before opening an account.

FAQ

Is Wealthsimple safe?

Wealthsimple Investments Inc. is a CIRO member, and investing accounts are protected by CIPF within its limits if the firm fails. Chequing balances are held in trust with CDIC members. None of this protects you from market losses.

How much does Wealthsimple charge?

As of September 2026, managed investing costs 0.5% a year on Core, 0.4% on Premium and 0.2% to 0.4% on Generation. Stock and ETF trades are $0 commission. US trades from a Canadian-dollar account pay a 1.5% conversion fee.

Is Wealthsimple good for beginners?

For many beginners, yes. You can start with $1, choose a managed portfolio and hold it in a TFSA, RRSP or FHSA. Fees are low compared with the 2% average mutual fund fee that Justwealth cites from the Ontario Securities Commission.

Can I hold US dollars at Wealthsimple?

Yes, in a US-dollar account. It costs $10 a month on Core and is included on Premium and Generation.

Is crypto at Wealthsimple protected?

Crypto assets are not covered by CIPF. Wealthsimple says it holds client crypto in trust, mostly with third-party custodians. Crypto prices can fall sharply.

For the full picture, see our hub TFSA / RRSP / FHSA Guide 2026, the TFSA limit for 2026 and the mistakes to avoid and the RRSP deadline and limits for 2026.

Sources

Ieveera SEO is an independent publisher, not a bank or financial advisor; content is for information only and may include paid affiliate links that never affect our rankings — always confirm current rates and terms with the provider. Rates shown in CAD; verify with the issuer. Investing involves risk, including loss of principal. Not investment advice. Past returns don’t guarantee future results.