Wealthsimple

Category:

Additional information

Fees

$10

Promotion

Earn a 4% bonus back on the balance in their Cash account up to a maximum balance of $6,000

Why we like it

Wealthsimple has become one of the most popular online brokers in Canada, particularly among new and passive traders. By the end of the second quarter of 2022, Wealthsimple will have 1.7 million Canadian clients and $14.9 billion in assets under management. The company reported 14% growth year-over-year.

Pros

• Commission-free trades of stocks and ETFs
• Option competitive for new traders
• Investment automation platform
• Fractional trading of stocks and ETFs

Cons

• Insufficient platforms and tools
• There is no security for crypto assets.
• Neither Wealthsimple Trade nor Wealthsimple Invest is synchronized.