Take a look at the most thorough Wealthsimple review online. XEQT and Chill.
Toggle between Core, Premium and Generation managed account fees to see just how little it will impact your portfolio.
| Decision Point | Verdict |
|---|---|
| Buying XEQT monthly | Excellent fit |
| Beginner experience | Top-tier |
| Advanced charting + orders | Limited |
| Set-and-forget investing | Best-in-class simplicity |
| Mobile Experience | Excellent, simplistic, and intuitive |
No monthly fees if you're a Premium or Generation member. Lounge Access, 2% cash back, lots to love.
Everything you need to ditch your big bank. Free accounts, paper cheques, Wire Transfers, High Interest Saving and more.
| Account Type | Registered | Self-Directed | Managed | Savings/Banking | Core Detail |
|---|---|---|---|---|---|
| TFSA | Yes | Yes | Yes | No | Tax-free growth and withdrawals (subject to CRA rules). |
| RRSP | Yes | Yes | Yes | No | Tax-deferred retirement account. |
| FHSA | Yes | Yes | No | No | First-home savings with tax-advantaged treatment. |
| RESP | Yes | Yes | Yes | No | Education account with grant eligibility and long-term compounding. |
| Spousal RRSP | Yes | Yes | Yes | No | Income-splitting retirement structure. |
| Personal (Non-registered) | No | Yes | Yes | No | Flexible taxable investing account. |
| Chequing | No | No | No | Yes | Daily spend, bill pay, and card usage inside Wealthsimple. |
| Cash / Savings | No | No | No | Yes | High-interest cash management bucket. |
| Joint Cash | No | No | No | Yes | Shared household cash flow and deposits. |
| USD Account | No | Partial | No | Partial | Useful for reducing conversion friction in USD workflows. |
Source basis: Wealthsimple Help Centre account selection matrix. Product availability and eligibility can vary by user profile and province.
Direct Deposit often puts your monthly payroll into your account a day before you actually get paid!
Literally invest pennies per day with total control to watch cents turn into dollars. Ultimate freedom to save and invest.
Wealthsimple is registering clients for their premium Black Metal Visa Infinite Privelege card with some amazing benefits.
Yes. If your strategy is steady, long-term contributions into diversified ETFs like XEQT, Wealthsimple is an easy platform to like because the setup is smooth, the interface is clean, and it removes a lot of the friction that stops people from getting started. For a hands-off Canadian index investor, that simplicity is a real advantage and one of the reasons I tend to view Wealthsimple favourably.
If you are an active trader wanting advanced execution, deep chart stacks, or more broker-style controls, you may feel constrained as Wealthsimple is a little light in advanced trader tools.
Yes. Wealthsimple charges $0 commission on Canadian and U.S. stock and ETF trades, but it is not literally “no cost” in every case because U.S.-dollar trades can still trigger currency conversion fees, typically 1.5% if you are trading U.S. securities from a CAD account.