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Wealthsimple Trade review

Best for: Investors who want $0 stock and ETF commissions, fractional shares from $1 and a wide range of registered accounts, including the TFSA, FHSA and RESP.

By the CreditLab research team · Checked October 14, 2026

ONLINE BROKERAGE

Wealthsimple Trade

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The bottom line

Wealthsimple lists $0 commissions on Canadian and US-listed stocks and ETFs on every plan, plus $0 contract fees on equity options and no account, inactivity or transfer-out fees. The main cost to watch is currency exchange: 1.5% per conversion unless you hold USD accounts, which cost $10 a month on the Core plan. Crypto held at Wealthsimple is not covered by CIPF.

Pros & cons

Pros

$0 commissions on Canadian and US-listed stocks and ETFs
$0 contract fee on equity options on all plans
Fractional shares with orders from $1.00
No opening, closing, inactivity or transfer-out fees
USD accounts available on the TFSA, FHSA, RRSP and RESP

Cons

1.5% currency conversion fee without a USD account
USD accounts cost $10 a month on Core after the free trial
Early exercise or do-not-exercise instructions cost US$45
Crypto assets are not covered by CIPF

LAB REPORT

A low-cost way to buy Canadian and US stocks and ETFs in small amounts. Most trades cost $0, so currency conversion is where fees show up; plan how you’ll handle US dollars before you start.

Suits you if

You buy ETFs regularly in small amounts.
You want fractional shares of US stocks from $1.
You want a USD side in your TFSA or RESP.

Look elsewhere if

You convert currency often but plan to stay on Core.
You want CIPF coverage on your crypto holdings.

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Our detailed review

Who Wealthsimple Trade suits

Wealthsimple’s self-directed trading service is built around $0 commissions and fractional shares, so it fits investors who buy in small amounts or add to ETFs on a schedule. Wealthsimple lists three plans: Core, Premium (for clients with $100,000 or more in assets) and Generation ($500,000 or more). Commissions are $0 on all three; the plans mainly change what you pay for USD accounts and margin.

Trading costs

Wealthsimple’s fee schedule lists $0 commission for listed US and Canadian securities, and its pricing page shows $0 stock and ETF commissions on Core, Premium and Generation. Fractional orders start at $1.00, which lets you split a contribution across several ETFs without leaving cash idle. Options and margin carry a few charges worth knowing:

Equity and ETF options: $0 per contract on all plans, though a Wealthsimple help article says $0 applies to “most” orders
Early exercise or a do-not-exercise instruction: US$45 each
Index options: per-contract fees, such as $1 on SPX and VIX and $0.25 on XSP
Margin: rates listed from 4.95% on Core and 3.95% on Generation (CAD)

Account fees and how to avoid them

There is little to avoid. Wealthsimple’s fee schedule lists $0 to open an account, $0 to close one, $0 for inactivity and $0 for outgoing transfers to another institution. The one recurring charge is optional: USD accounts on the Core plan cost $10 a month plus tax after a 30-day free trial. Reaching Premium or Generation makes USD accounts free. Wealthsimple also runs promotions for clients who transfer in assets, so check the current terms before you move an account.

Accounts offered

Wealthsimple lists a broad set of accounts for self-directed investors:

Tax-sheltered: TFSA, FHSA, RRSP, spousal RRSP and RESP
Retirement income and locked-in: RRIF, spousal RRIF, LIRA and LIF
Taxable: non-registered, margin and crypto accounts
Joint and business accounts, confirmed in Wealthsimple help articles; joint margin accounts are still in beta and not open to all clients

Currency exchange and protection

Without a USD account, Wealthsimple charges 1.5% on every conversion, applied to its own exchange rate. With USD accounts, the fee falls as the conversion gets larger: 1.5% under $10,000, 1.0% from $10,000 to $24,999.99, 0.5% from $25,000 to $99,999.99 and 0% at $100,000 and up.

Wealthsimple Investments Inc. is a member of the Canadian Investment Regulatory Organization (CIRO), and client accounts are protected by the Canadian Investor Protection Fund’s Investment Dealer Fund if the dealer becomes insolvent. Crypto assets are not covered by CIPF. CIPF coverage does not protect you from market losses, and the value of any investment can fall.

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Frequently Asked Questions

Does Wealthsimple charge commission to buy US stocks?

Wealthsimple lists $0 commission for listed US and Canadian securities on all plans. The cost to watch is currency exchange: converting Canadian dollars to US dollars costs 1.5% unless you have USD accounts. USD accounts cost $10 a month on Core after a 30-day free trial.

Can I hold US dollars in my Wealthsimple TFSA?

Yes. Wealthsimple offers USD accounts on the TFSA as well as the FHSA, RRSP, RRIF, RESP and non-registered accounts. They’re free on Premium and Generation and $10 a month plus tax on Core after a 30-day free trial.

Is there a minimum to open a Wealthsimple trading account?

Wealthsimple doesn’t state an account minimum for trading accounts on the pages we checked. Its Core plan starts at $1 in assets, and fractional orders must be at least $1.00.

How much does Wealthsimple charge for options contracts?

Wealthsimple lists a $0 contract fee on equity and ETF options on all plans, though its help article says $0 applies to most orders rather than all. Index options carry per-contract fees. Early exercise or a do-not-exercise instruction costs US$45.

Does Wealthsimple charge a fee to transfer my account out?

No. Wealthsimple’s fee schedule lists $0 for outgoing transfers to another institution. It also lists $0 to open or close an account and no inactivity fee.

How do I lower Wealthsimple’s currency exchange fee?

Add USD accounts so you can hold US dollars instead of converting on every trade. With USD accounts, the conversion fee drops from 1.5% under $10,000 to 0.5% between $25,000 and $99,999.99, and to 0% at $100,000 and up.

Is my money safe if Wealthsimple goes out of business?

Wealthsimple Investments Inc. is a CIRO member, and client accounts are protected by CIPF’s Investment Dealer Fund if the dealer becomes insolvent. Crypto assets aren’t covered by CIPF. CIPF also doesn’t cover losses from falling markets.

Sources

Fees and features come from Wealthsimple Trade’s own site and fee schedule, checked October 14, 2026. They can change at any time, so confirm them before you open an account. Investing involves risk, including the loss of money you invest. See our methodology.