Wealthsimple FAQ – Frequently Asked Questions & Answers

Yes. Wealthsimple is regulated in Canada, is a CIRO member, and uses bank-level encryption. Your accounts are protected by CIPF up to $1 million per account type (for Trade/Invest) and CDIC for Cash/Save. Wealthsimple has a strong track record of security and compliance.

There is no account minimum. You can start investing with any amount.

Wealthsimple offers RRSP, TFSA, RESP, non-registered, USD savings, and more. They also offer crypto trading, managed portfolios, and tax filing.

You can contact Wealthsimple support via in-app chat, email, or phone (for some products and tiers). Support is available 7 days a week for most inquiries. Premium and Generation clients receive priority service.

Yes. Wealthsimple is available on iOS, Android, and web. You can manage your accounts, make trades, and access support from any device.

Wealthsimple Trade is Canada's first commission-free stock and ETF trading platform. It allows you to buy and sell thousands of stocks and ETFs on Canadian and U.S. exchanges with no trading commissions, via mobile or web.

There are no commissions for stock or ETF trades. U.S. trades incur a 1.5% FX fee unless you have a USD account (free for Premium, or $10/month for Plus). Options trading has a per-contract fee. No annual or inactivity fees.

Yes, you can buy fractional shares of over 500 popular stocks and ETFs, starting from as little as $1.

Yes. Trade accounts are protected by CIPF up to $1 million per account type in case of broker insolvency. Cash in Trade is not CDIC-insured but is covered by CIPF.

You can deposit or withdraw funds via linked Canadian bank accounts. Deposits are typically instant up to your limit; withdrawals may take 1-3 business days. Instant withdrawals to Visa Debit are available for a fee.

Yes. You can transfer assets from another Canadian brokerage to Wealthsimple Trade using the electronic ACATS process. Wealthsimple often reimburses transfer fees for qualifying amounts.

Yes. Annual tax documents (T3, T5, T5008, etc.) are provided in-app and can be imported into Wealthsimple Tax or downloaded for filing.

Wealthsimple Invest is a robo-advisor that builds and manages a diversified ETF portfolio for you, based on your goals and risk tolerance. It offers automatic rebalancing, dividend reinvestment, and goal tracking.

Management fees are 0.5% for Core (<$100k), 0.4% for Premium (≥$100k), and as low as 0.2% for Generation (≥$500k). ETF MERs are extra (~0.15–0.25%). No account or withdrawal fees.

Yes. Invest accounts are protected by CIPF up to $1 million per account type. Cash in registered accounts is also CDIC-insured up to $100k per bank.

Yes. You can schedule automatic deposits (weekly, biweekly, monthly) to your Invest account, making it easy to build your portfolio over time.

Yes. You can adjust your risk level or switch to a Socially Responsible or Halal portfolio at any time. Wealthsimple will automatically rebalance your portfolio accordingly.

You can withdraw funds at any time. Withdrawals are processed after selling the necessary investments and typically take 1-3 business days to reach your bank account.

Wealthsimple Crypto lets you buy, sell, and hold 90+ cryptocurrencies in a regulated, secure environment. Crypto is held in cold storage with insured custodians. You can also withdraw supported coins to your own wallet.

Wealthsimple Crypto charges a spread (about 2% for Core, 1% for Premium, 0.5% for Generation) on trades. No deposit or withdrawal fees. Staking rewards are available for select coins, with a fee on rewards.

Crypto is held in cold storage with regulated custodians and insurance. However, crypto is not CIPF or CDIC insured. Wealthsimple uses strong security and 2FA to protect your account.

Yes. You can withdraw supported cryptocurrencies (like Bitcoin, Ethereum, and others) to your own wallet. Not all coins are eligible for withdrawal; check the app for supported assets.

Yes. You can stake select cryptocurrencies (ETH, SOL, ADA, DOT) and earn rewards. Wealthsimple takes a percentage of staking rewards as a fee.

Yes. There may be annual buy limits for certain altcoins (excluding BTC/ETH) for non-accredited investors, as required by Canadian regulations. See the app for your specific limits.

Wealthsimple Cash is a no-fee chequing and high-interest savings account with a prepaid Mastercard. Earn 1.75–2.75% interest, get 1% cashback, and enjoy unlimited free e-Transfers and bill payments. Funds are CDIC-insured up to $1M.

No monthly fees, no e-Transfer or bill payment fees, no FX surcharge, and no ATM fees from Wealthsimple. Some third-party ATM operators may charge a fee.

Yes. Cash balances are held in trust at multiple CDIC member banks, providing up to $1M in deposit insurance coverage per person.

You can send and receive Interac e-Transfers directly from the Wealthsimple Cash app. There are no fees, and transfers are typically instant or within minutes.

Yes. You can pay bills and set up direct deposit (including payroll and government payments) into your Wealthsimple Cash account.

Yes. You can open a joint Wealthsimple Cash account and both account holders will have full access and their own cards.

Wealthsimple Tax is an online tax filing software for Canadians. File your taxes for free (pay what you want), with support for all income types, deductions, and credits. NETFILE-certified and easy to use.

Basic plan is pay-what-you-want (including $0). Plus ($40) adds audit defense and priority support. Pro ($80) includes a session with a tax expert. All plans support full tax filing features.

Yes. Wealthsimple Tax is CRA NETFILE-certified, uses bank-level encryption, and guarantees maximum refund and calculation accuracy. Your data is stored securely in Canada.

Yes. Wealthsimple Tax supports CRA's Auto-fill My Return, allowing you to import T4, T5, RRSP, and other slips directly from the CRA into your return.

Yes. You can file up to 2 returns on Basic, 8 on Plus, and 20 on Pro. The software optimizes credits and deductions between spouses automatically.

Yes. Wealthsimple Tax supports both English and French, and can file both federal and Quebec provincial returns (except Pro plan, which is English-only for expert help).

The Wealthsimple Credit Card offers 2% cash back on all purchases with no complicated spending categories. It's Canada's only Visa Infinite Privilege cash back card. Your cash back is automatically deposited into your Wealthsimple account where it can earn up to 2.25% interest.

The annual fee is waived if you have $100K+ in assets with Wealthsimple, or when you switch a qualifying paycheque deposit ($4,000+/month) to your Wealthsimple chequing account. Otherwise, fees are $20/month (charged annually in Quebec).

No! Wealthsimple charges zero FX fees on the credit card, while most other credit cards charge up to 2.5%. The payment network still applies a currency conversion rate, but Wealthsimple doesn't add any markup.

You can apply if you're a Canadian resident, are the age of majority in your province, and have an active Wealthsimple chequing account. For Visa Infinite, you need $60K personal income or $100K household income. For Visa Infinite Privilege, you need $150K personal income, $200K household income, $50K annual spend, or $400K+ in assets with Wealthsimple.

The annual interest rate is 20.99% for purchases and 22.99% for cash advances. If you miss minimum payments for 2 consecutive months, rates increase to 25.99% on purchases and 27.99% on cash advances.

You can only pay your Wealthsimple credit card balance from a Wealthsimple chequing account. You can set up auto-pay to make payments on a schedule that works for you, or pay flexible amounts manually.

There are no tap limits when you use your virtual card in the app! Since your virtual card requires you to unlock your phone, there's added security. Your physical card does have tap limits depending on the purchase type.

Premium clients with $100,000+ in assets with Wealthsimple automatically receive a metal card. It's a premium upgrade from the standard plastic card.

The card includes purchase protection for 90 days, mobile device insurance up to $1,000, extended warranty (doubles manufacturer's warranty), and 24/7 customer support. Travel benefits include concierge service, Visa Infinite Luxury Hotel Collection access, emergency medical insurance, trip cancellation insurance, and baggage insurance. Visa Infinite Privilege cardholders also get access to 1,200+ airport lounges and car rental insurance.

The credit card is a way of borrowing money with higher cash back rewards (2%) and additional benefits like insurance and Visa Infinite perks. The prepaid card spends money already in your chequing account. A credit check is required for the credit card and using it affects your credit score.

Yes! The Wealthsimple Visa credit card is available to eligible clients in all provinces across Canada, including Quebec. Note that Quebec clients are charged annual fees instead of monthly.