Wealthsimple Fees 2026: Every Cost, Explained
Wealthsimple is genuinely free to trade on — if you stick to Canadian-listed stocks and ETFs. Cross into US-listed territory from a CAD account, and a 1.5% currency conversion fee quietly becomes your biggest cost. This breakdown covers every fee on the platform so you know exactly what you're paying and when.
Trading Commissions
Stocks and ETFs: $0 commission on Canadian and US-listed securities (TSX, NYSE, NASDAQ, NEO, CSE, BATS)
Options: $0 per contract — no base commission, no per-contract fee. The cheapest options pricing of any major Canadian broker.
Fractional shares: $0 — minimum $1.00 trade, market orders only, not all stocks eligible
Precious metals: 1% fee on each buy or sell order
Crypto: Separate fee schedule — see Wealthsimple Crypto terms
Foreign Exchange (FX) — The Fee That Matters Most
The $0 commission headline is real. The 1.5% FX fee is also real, and for anyone regularly buying US-listed stocks or ETFs from a CAD account, it's the dominant cost on the platform.
CAD-to-USD conversion: 1.5% fee embedded in the exchange rate, applied on every filled US order
USD Account: $10/month flat fee — waived if your total Wealthsimple assets exceed $100,000
Manual CAD→USD cash conversion: tiered rate — 1.5% standard, drops to 0.5% at $25,000+, 0% at $100,000+
US Index ETFs (Managed portfolios): reduced FX spread of 0.05% instead of 1.5%
The workaround most Canadian investors use: buy globally diversified CAD-listed ETFs like XEQT or VEQT on the TSX. You get full global stock market exposure with zero FX conversion, ever. OR, work over time towards maintaining $100K+ on the platform to waive the high FX fee.
Margin Rates
Core clients: Wealthsimple Prime Rate + 0.5%
Premium clients: Wealthsimple Prime Rate + 0%
Generation clients: Wealthsimple Prime Rate − 0.5%
Current CAD Prime Rate: 4.45% (subject to change without notice)
Current USD Prime Rate: 6.75% (subject to change without notice)
Interest accrues daily and is charged monthly. No commissions on equity or ETF trades made in a margin account — you only pay interest on the borrowed balance.
Account and Administrative Fees
Account fees: $0 — TFSA, RRSP, FHSA, LIRA, RRIF, non-registered
Inactivity fee: $0
Transfer in: $0
Transfer out: Fees may apply — verify current amount with Wealthsimple before transferring
Managed portfolios: 0.5% annual fee (Core), 0.4% annual fee (Premium/Generation) — applies to managed account balances only, not self-directed
ECN Fees
Wealthsimple does not pass ECN fees to self-directed clients — $0 commission means $0 for standard orders
Orders are smart-routed for best available price at time of execution
Data and Platform
Level 1 streaming quotes: included at no cost
Level 2 market depth: not available on Wealthsimple
Platform: web and mobile app only — no downloadable desktop software
Verdict: Who Should Use Wealthsimple?
Wealthsimple is cheap for CAD-only investors and moderately expensive for anyone regularly trading US-listed securities. Its $0 options pricing is genuinely unmatched among major Canadian brokers.
Best for: beginners, passive investors building a TFSA or RRSP with CAD-listed ETFs, options traders who want $0 per contract
Not ideal for: active US stock traders (the 1.5% FX fee compounds fast), investors who need Level 2 data or advanced charting, mutual fund or bond buyers
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All fees are current as of 2026 and subject to change. Verify rates at wealthsimple.com before making investment decisions. This post may contain affiliate links — see our disclosures for details.
