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✓ TFSA
US Dollar Account Available?
X
✓ RRSP
US Dollar Account Available?
X
Registered Accounts
✓ Cash
US Dollar Account Available?
X
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INDEX
>ONLINE BROKERAGE REVIEW
Wealthsimple Trade Review 2021
Updated
July 13, 2021
Quick Info
- Standard Equity Commission$0
- Best Commission Price$0
- Minimum to Open AccountNot Required
- Maintenance/Inactivity Fees0
- Commission-free ETF TradingYes (All)
- Young Investor Offer
HIGHLIGHTS
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.
Brokerage Breakdown
ACCOUNT TYPES OFFERED
ACCOUNT FEES & REQUIREMENTS
✓ TFSA
Minimum Opening Balance
$0
Minimum Balance Required
$0
Annual Charge
$0
Transfer Out
$0
Withdrawals
$0
Fee Waiver Condition
Nil Inactivity fee
✓ RRSP
Minimum Opening Balance
$0.00
Minimum Balance Required
$0.00
Annual Charge
$0.00
Transfer Out
$0
Withdrawals
$0
Fee Waiver Condition
Nil Inactivity fee
Registered Accounts
✓ Cash
Minimum Opening Balance
$0.00
Minimum Balance Required
$0.00
Annual Charge
$0.00
Transfer Out
$0
Fee Waiver Condition
Nil Inactivity fee
✓ Inactivity Fees
Inactivity or Maintenance Fees
0
✓ Fee Waiver Conditions
-
Nil Inactivity fee
-
Non-Registered Accounts
TRADING COMMISSIONS & FEES
Equity
Minimum commission per trade
No fee
Maximum commission per trade
$0.00
Standard commission per trade
$0
Best commission per trade
$0
ETF
Commission-free ETF Trading Available?
✓
ONLINE BROKERAGE RANKINGS
Sorry, no data is available.
CONTACT
Phone
1-855-255-9038Customer Service Hours
Monday-Friday: 9am - 5:30pm (EST)
Mailing Address
