Wealthsimple Trade Review 2021

Updated October 13, 2021

Quick Info

  • Standard Equity Commission
  • Best Commission Price
  • Minimum to Open Account
    Not Required
  • Maintenance/Inactivity Fees
  • Commission-free ETF Trading
    Yes (All)
  • Young Investor Offer


Wealthsimple Trade is a self-directed platform, which allows DIY investors complete control over buying and selling the assets in their accounts. It’s different from Wealthsimple Invest, which has a portfolio manager to make the purchasing and selling decisions (so clients just “set it and forget it”).

The most popular Canadian stocks are available to trade on Wealthsimple Trade, but many of the less popular ones are unavailable. Wealthsimple Trade was the first Canadian online discount brokerage to start out as mobile-first. Accordingly, their clients tend to skew younger and be more tech-savvy and comfortable trading on the mobile platform. 

Wealthsimple Trade seems to be modeling themselves after some of the more popular online discount brokerages in the United States by offering zero-commission trading and adding new features constantly, to continually strengthen the user experience. They also have been known to run attention-grabbing promotions, such as giving away free stock.

Wealthsimple Trade Full Review

What Account Types does Wealthsimple Trade offer?


    Registered Accounts

    Non-Registered Accounts

Account Fees & Requirements for Wealthsimple Trade


    Registered Accounts

    Non-Registered Accounts

Trading Commissions & Fees provided by Wealthsimple Trade


Wealthsimple Trade Rankings & Reviews for 2021

  • Sorry, no data is available.

How can I contact Wealthsimple Trade customer support?


What do people think of Wealthsimple Trade?

Dividend reinvestment programs are not currently supported on Wealthsimple Trade.
You basically save the exchange rate, the larger the sum of money you’re trying to exchange the more you will save. For smaller sums under $1000 CAD it’s not really worth it. For example, converting over $25k CAD to USD cost me about $15 in fees. Had I converted that sum (over time) by using Wealthsimple Trade I’d be looking at $375 in currency exchange fees just to buy $25k of US stocks and then another $375 to convert USD back to CAD when selling those stocks. So the savings for $750 in currency exchange fees can be put towards like 125 trades on Questrade. And if you by and sell stocks at increments of $500, you’d only use 100 trades max. So the savings overall for a sum of $25,000 CAD come to about $150 CAD on Questrade… It’s not much I know. So if Wealthsimple ever introduces USD accounts, it’s basically game over for Questrade if it retains it current pricing. However for the meantime it’s a better platform because it’s slightly cheaper and has a much much bigger selection of stocks and a platform that is better.
Questrade is a good brokerage choice for people who want to automate/ simplify the purchases because you can use Blackrock’s Pre-authorized Cash Contribution to purchases of XBAL or XGRO and for other ETFs (or a buying pattern that can't be scheduled) you could have Passiv Elite remind you to make "one click purchases" as soon as money hits your account. Using the PACC or "one click" option can reduce the odds of experiencing a drag on return caused by tampering with your investment plan. Neither option is available through WealthSimple Trade.
Wealthsimple trade still frozen at 10.80 lol f dis shi
Anyone on wealthsimple trade?