Wealthsimple Commerce in-depth overview 2025: The professionals and cons of investing on this app

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

As of Could 2025, Wealthsimple’s AUA (belongings below 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 capability to permit Canadians to purchase and promote particular person shares and ETFs (exchange-traded funds) with zero fee charges. A few year-and-a-half later, Wealthsimple made one other splash when it added cryptocurrencies to its Commerce choices. As of 2024, Commerce is not any extra a separate app, however is a part of their one all-inclusive app—referred to as simply “Wealthsimple.”

Wealthsimple now provides three value ranges, based mostly on how a lot cash you maintain on their platform:

Questioning should you ought to commerce shares and ETFs on Wealthsimple? Right here, we current its execs and cons, and take a deep dive into its options—together with its value construction, so you may resolve for your self. 

Wealthsimple Commerce execs and cons

That will help you make your choice, 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 rivals 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 Alternate (NYSE) and the Toronto Inventory Alternate (TSX). Plus, it provides 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 firms, corresponding to Microsoft, Netflix, Tesla, Shopify, Royal Financial institution of Canada, Toronto Dominion Financial institution, and the Canadian Nationwide Railway Co. With fractional investing, you may personal a small piece of those firms even should you don’t have enough cash to purchase one whole share.
• You possibly can open registered accounts corresponding to a tax-free financial savings accounts (TFSAs) and registered retirement financial savings plans (RRSPs) in addition to non-registered accounts—referred to 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 possibly can deposit your cash immediately to start buying and selling immediately. You possibly can immediately deposit as much as $3,500. It relies 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 value alerts are actually free to all Wealthsimple Commerce purchasers.
• The Wealthsimple Commerce app is enticing, clear and intuitive; even first-time traders will discover it simple to make use of. The “browse” characteristic on the app kinds trending shares by totally different markets and classes. There’s additionally a web-based platform for customers preferring to commerce on their laptop computer or desktop quite than their cellular machine.
• Wealthsimple is a reliable monetary model. As talked about above, its AUA was valued at over $70 billion as of Could 2025, and it has an estimated three million prospects. Wealthsimple can also be regulated by the IIROC (Funding Trade Regulatory Group of Canada) and the CIPF (Canadian Investor Safety Fund)—identical to the funding wings of the massive banks.
• Wealthsimple provides automated dividend reinvestments, which robotically use your dividends to buy extra shares or fractional shares of the identical funding. You possibly can flip this characteristic on/off by means of the cellular app’s settings, and reinvestments sometimes happen inside one to 2 enterprise days when markets are open.

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The cons

• At the moment, customers can commerce shares, ETFs and choose cryptocurrencies. Mutual funds and IPOs aren’t accessible.
• Wish to purchase U.S. shares corresponding to Google (GOOGL), Amazon (AMZN), Tesla (TSLA) and others? Know that you simply’ll must pay a forex conversion payment until you may have a USD account. To carry U.S. investments in U.S. forex with out paying the forex conversion payment, you’ll have to get a USD account, which is free for Premium and Era purchasers however $10 a month for Core purchasers. Each buy and sale of a U.S. inventory and not using a USD account entails forex conversion.
• There’s a lack of in-depth funding analytics. Whereas this decreases muddle and makes it simpler for amateur traders to navigate, seasoned traders might want extra granular commerce knowledge on their screens.
• Be warned should you’re in a rush to withdraw your funds, as a result of it could actually 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. Nonetheless, you might get prompt withdrawals by linking your debit card to your account. Be aware that prompt debit card withdrawals carry a 2.5% withdrawal payment, there’s a withdrawal restrict of $5,000 per transaction, and never all debit playing cards are at present supported.

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Is Wealthsimple Commerce good?

Whether or not you’re a first-time investor or a seasoned one—passive or lively—Wealthsimple is an easy, cheap platform for purchasing and promoting Canadian or U.S. shares and ETFs. For many who wish to spend money on different belongings (corresponding to mutual funds, bonds, international equities or valuable metals), Questrade or one other on-line brokerage could also be a greater different. Identical goes for many 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 cellular or laptop, it’s quite simple and it takes only a few minutes. Enter your electronic mail deal with and a password of your selecting. If you have already got a Wealthsimple account, simply use your current login information. Then the app/web site will information you thru the remainder. You will have the choice of opening any mixture of a private (non-registered) account, a TFSA, an RRSP or a crypto account. As of 2025, you may open registered retirement earnings funds (RRIFs) and locked-in retirement accounts (LIRAs) with Wealthsimple Commerce.

Easy methods 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 simple. You must hyperlink your checking account to your Wealthsimple Commerce account and enter the quantity you wish to transfer. The day by 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 (prompt), and $3,500 CAD for debit card deposits (prompt), whereas direct deposits and wire transfers haven’t any limits.

If you wish to transfer cash from one Sort 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 simple to do that from throughout the Wealthsimple app.

What are you able to commerce with Wealthsimple Commerce?

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

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 spend money on varied elements of the world, together with Asia and Europe. Since most ETFs are broad based mostly and observe a specific 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 method to investing, you may entry iShares and Vanguard ETFs and construct an excellent “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 lively method to your investments, or should you’re seeking to diversify your portfolio, you should buy every little thing from emerging-market ETFs to cryptocurrency ETFs.

Whereas you should buy ETFs that spend money on international shares, you may’t truly purchase particular person shares outdoors of these accessible of the main U.S. and Canada exchanges. So, you may’t, for instance, purchase particular person shares from the likes of the Bombay Inventory Alternate (BSE) or the Hong Kong Inventory Alternate (HKG). Aside from ETFs that observe varied different international locations or areas, there are a whole lot of American depositary receipts (ADRs) of worldwide firms which might be traded on U.S. exchanges. And there are non-U.S. firms that inter-list their shares on U.S. inventory exchanges, corresponding to Toyota and AstraZeneca.

Easy methods to purchase shares and ETFs on Wealthsimple Commerce

Shopping for shares and ETFs on Wealthsimple Commerce is as simple 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 through which you wish to purchase it. That might be a RRSP, TFSA or private account. Then choose your most popular sort of purchase order, whether or not it’s market, fractional, restrict or stop-limit. 

A market order is an instantaneous purchase through which the commerce is executed at the perfect accessible value in the marketplace at that second. A fractional order is for fractional shares solely and is put by means of on the finish of the day (or subsequent accessible buying and selling day). And restrict and stop-limit orders can help you set prematurely the utmost value you’re keen 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 completed! 

To assist information your decisions, it’s also possible to entry snapshots of trending and prime shares throughout varied market segments and classes. Once more, these may 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 understood for being a secure and simple strategy 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 “era” customers). There aren’t any further charges on prime 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 offer you your personal crypto pockets. As a substitute, 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 may 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 few of the dangers. So actually learn the disclaimer—don’t simply verify the field to maneuver on to the subsequent display prefer it’s a web-based cookies settlement. 

That is the place you’ll find out about how your crypto belongings are held—in a pool of Wealthsimple’s digital belongings. Additionally, you will examine who shouldn’t make investments. For instance, those that want to tug from retirement funds, scholar loans, their mortgage, emergency funds or different sources of cash which might be vital 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 danger tolerance. 

Your crypto investments are a part of a non-registered account on Wealthsimple. Which means you’ll have to pay taxes on any beneficial properties you make. Be aware: You possibly can spend money on 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 massive a part of Wealthsimple’s success. Lots of its rivals 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 lively dealer, your total return may benefit from not having to pay buying and selling commissions. Nonetheless, it could 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 may surprise. In response to Wealthsimple, its earnings come primarily from a 1.5% forex trade payment charged on Canadian-to-U.S. greenback conversions (and vice-versa). Because the primary plan doesn’t embrace U.S. greenback accounts, these conversions are vital for buying and selling U.S.-listed securities.

As beforehand talked about, you may keep away from these international trade charges by getting a free USD account as a Premium or Era consumer, or for $10 monthly as a Core consumer.

While you purchase or promote a cryptocurrency, you’ll pay  a buying and selling payment 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 payment 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. Nonetheless, should you’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 should you’re a passive, long-term investor with out loads 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. Because of this, some traders could go for different low cost brokerages corresponding to Qtrade or Questrade. 

Whereas these platforms aren’t as simple to make use of as Wealthsimple (and have totally different payment 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, due to this fact ruling out main worldwide exchanges.

Is Wealthsimple Commerce secure?

Evidently, should you plan to maneuver cash—irrespective of how small the quantity—by means of a web-based platform, you’d be involved about safety. You possibly can take consolation in understanding Wealthsimple’s services 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 at present has greater than $70 billion in belongings below administration. Additionally, Wealthsimple’s main proprietor, Energy Company of Canada, is a 100-year-old-plus establishment, with over $450 billion in belongings and 30,000 workers.

An extra layer of consolation: Wealthsimple is regulated by the Funding Trade Regulatory Group of Canada—like all of Canada’s main monetary establishments. And traders’ belongings are insured by the Canadian Investor Safety Fund (CIPF)—as per CIPF guidelines.

Do you have to make investments with Wealthsimple Commerce?

Wealthsimple’s purpose was to assist Canadians who have been intimidated by the seemingly complicated world of investing. For brand spanking new traders searching for long-term progress by means 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 likely to be extra tempting with a platform like Wealthsimple. And analysis exhibits that doing so can lead to no progress and misplaced earnings.

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