If you’re a long‑term investor, the kind who buys consistently, ignores the noise, and lets compounding do its thing then Wealthsimple is honestly one of the most powerful platforms available in Canada right now.

What makes it stand out isn’t flashy trading tools or day‑trader bells and whistles… it’s the simplicity, the cost structure, and how frictionless it makes long‑term wealth building.

Free Trades = Long‑Term Superpower

The headline feature and the one that matters the most is commission‑free trading on stocks and ETFs like XEQT.

That sounds basic… until you zoom out.

When you’re making consistent buys whether it be weekly, bi‑weekly, or monthly, the commissions quietly eat into your returns over time. Traditional brokerages charging $5–$10 per trade don’t seem expensive… until you’re placing 100+ trades a year.

Wealthsimple removes that drag entirely.

That means:

• You can dollar‑cost average without thinking about fees

• Small contributions actually make sense

• Reinvesting dividends doesn’t feel punitive

• Building positions over time is frictionless

For long‑term ETF investors especially, this is massive. The ability to automate deposits and deploy capital regularly without worrying about trade costs is a compounding advantage most investors underestimate.

Account Options | Basically Everything You Need

Wealthsimple has evolved from “just a robo‑advisor” into a full financial ecosystem. You can run almost your entire financial life through it now.  Some, like the guys behind the site dumped their CIBC and RBC accounts completely and solely use Wealthsimple for their day to day banking.

Here’s the lineup:

Registered Investing Accounts

• TFSA

• RRSP

• FHSA

• RESP (managed side)

Non‑Registered & Specialty

• Personal (cash / margin where eligible)

• Corporate accounts

Banking & Cash

• Chequing (Wealthsimple Cash)

• High‑interest Savings

• USD Savings

• Visa Infinite Privilege Card (Black Metal depending on your account)

Alternative

• Crypto Accounts

The big win here is consolidation. You can invest, save, hold USD, and manage tax‑advantaged accounts all under one roof without juggling multiple institutions.

And unlike traditional banks, many of these accounts come with no monthly fees and no minimum balances.

Interface & User Experience | Best in Canada

This is where Wealthsimple really separates itself from legacy banks.

The mobile app and web platform are:

• Clean and well laid out

• Fast

• Beginner‑friendly

• Visually modern

Everything from onboarding → funding → buying → tracking performance feels seamless.

Even seasoned investors appreciate how intuitive it is. Reviews consistently highlight the platform’s ease of use and clean design compared to “clunky” bank brokerages.

You’re not digging through 12 tabs to find a holding. You open the app and everything just makes sense.

For investors who check portfolios regularly, that UX difference matters more than people think.

Customer Service | Surprisingly Strong for Fintech

Customer support is one area where fintechs often struggle but Wealthsimple generally reviews well here (with some mixed experiences, as with any large platform).

Support options include:

• Live chat (though only during EST business hours)

• Phone

• Email

• Virtual assistant 24/7

Many users highlight helpful reps and smooth issue resolution.

From community feedback:

“Personable, not rushing and very helpful.”

Others mention reps following up proactively or resolving fraud and account issues thoroughly, the kind of human touch you don’t always expect from a digital‑first platform.

Like any financial institution, there are occasional complaints around wait times or transfers but overall sentiment trends positive, especially among long‑term investors rather than active traders.

Banking Features Are a Hidden Bonus

Wealthsimple isn’t just for investing anymore.

Its cash and savings products add real everyday utility:

• Interest‑earning chequing balances

• No monthly account fees

• No ATM fees (with reimbursements)

• High‑interest USD savings options

This turns the platform into more of a financial hub and not just a brokerage.

You can get paid, save, invest, and deploy capital without moving money across institutions constantly.

Where It’s Not Perfect (Quick Reality Check)

No platform is flawless.

Common critiques you’ll see:

• FX fees on U.S. trades unless using USD accounts / subscriptions

• Limited advanced trading tools

• Not ideal for day traders

• Some deposit or withdrawal delays (more related to holds and clearing)

But for the audience it’s built for, the long‑term, passive, consistency‑focused investors, these are minor trade‑offs.

The Bottom Line

Wealthsimple shines brightest when used the way wealth is actually built:

Slowly. Consistently. Over time.

Why long‑term investors love it:

• $0 commission trades (huge for DCA)

• Seamless recurring investing

• Full suite of registered accounts

• Integrated banking & savings

• Clean, modern interface

• Strong overall support experience

If your strategy is:

Buy great ETFs or stocks → contribute regularly → hold for years

…then Wealthsimple isn’t just convenient, it’s structurally advantageous.

Free trades remove friction. Automation builds discipline. And the platform design keeps you engaged without overwhelming you.