Online brokerage
Wealthsimple Review: CIRO-Registered, Fees & Platforms
By ForexCanada Editorial Team · Updated
Canada check
Self-directed trading is offered through a CIRO dealer member; crypto trading through a CSA-registered crypto trading platform. CIPF does not cover crypto assets.
- Canadian status
- CIRO-registered
- Canadian entity
- Canadian ShareOwner Investments Inc. (Wealthsimple Trade); Wealthsimple Investments Inc. (crypto)
- CIPF coverage
- Yes (eligible accounts, within CIPF limits)
- OBSI complaints
- Yes — free, independent dispute resolution
- Accepts Canadians
- Accepts Canadian residents
- Licences abroad
- —
- Founded
- 2014
- Headquarters
- Toronto, ON
- Ownership
- Wealthsimple Financial Corp. (Power Corporation is a major shareholder)
Our take on Wealthsimple
Wealthsimple turned commission-free investing into the default for a generation of Canadian investors, and its app remains the simplest way to open a TFSA, RRSP or FHSA and start buying ETFs. It combines self-directed trading, managed portfolios, cash accounts and a CSA-registered crypto platform under one login. The trade-offs are depth and currency costs: there is no desktop trading platform with advanced charting, options and research tools are basic, and buying U.S. stocks in a CAD account triggers a currency conversion fee unless you are on a tier that includes USD accounts.
Verdict
Great for long-term, app-first investors. Active traders and anyone buying lots of U.S. securities should compare the FX costs with Questrade, Qtrade or Interactive Brokers.
What we like
- +$0 stock and ETF commissions
- +Very easy account opening, all major registered accounts
- +Regulated crypto trading in the same app
- +Fractional shares on many stocks
Watch out for
- −Currency conversion fees on U.S. trades without a USD account
- −Limited research and charting
- −No forex or CFD trading
How Wealthsimple scores
Canadian protection carries 40% of the weight, so an unregistered firm can't outrank a registered one on price alone. See the full methodology.
Accounts, markets & platforms
- Platforms
- Mobile app, Proprietary web
- Markets
- Stocks · ETFs · Options · Crypto
- Pricing
- $0 commissions on Canadian and U.S. stocks and ETFs; FX conversion fee applies unless you hold USD (USD accounts on paid tiers)
- Minimum deposit
- $0
- CAD / USD accounts
- ✓ CAD | ✓ USD
- Registered accounts
- TFSA, RRSP, FHSA, RESP, Spousal RRSP, LIRA
- Funding
- Instant deposits from linked bank, EFT, Direct deposit
- Demo account
- Not advertised
- French service
- Yes
Figures are taken from the broker's own disclosures at our last review (2026-09) and change often — always confirm on the broker's website. Spot an error? Tell us.
Verify Wealthsimple yourself
- Look for the firm on CIRO's list of dealers it regulates.
- Search the legal entity name in the CSA National Registration Search and check it is registered in your province.
- Confirm CIPF membership in the CIPF member directory.
- Search the CSA investor alerts for the brand name and any look-alike websites.
- Make sure the account agreement you sign names the same legal entity — not an offshore affiliate.
Wealthsimple: frequently asked questions
Is Wealthsimple regulated in Canada?
Yes. Canadian clients are served by Canadian ShareOwner Investments Inc. (Wealthsimple Trade); Wealthsimple Investments Inc. (crypto), a registered investment dealer and member of the Canadian Investment Regulatory Organization (CIRO). You can confirm this on CIRO's list of dealers it regulates and in the CSA National Registration Search.
Is my money protected with Wealthsimple?
Eligible accounts at CIRO dealer members are covered by the Canadian Investor Protection Fund (CIPF) if the firm becomes insolvent — generally up to $1 million per account category. CIPF does not cover trading losses or crypto assets.
What is the minimum deposit at Wealthsimple?
$0. Minimums change, so confirm on the broker's website before funding.
Can I open a TFSA or RRSP with Wealthsimple?
Yes. Wealthsimple offers TFSA, RRSP, FHSA, RESP, Spousal RRSP, LIRA accounts. Note that leveraged forex and CFDs can't be held in registered accounts.
Canadian trader reviews
Reviews are submitted by readers and moderated by our editors for relevance and abuse. They are opinions, not verified facts, and never affect our score.
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