What is Wealthsimple?

Wealthsimple is a Canadian online investment management service that offers robo-advisory and trading services for a range of financial instruments.

When did it start operations?
Wealthsimple was founded in 2014.

Where is its headquarters?
The company is headquartered in Toronto, Canada.

In which countries is it banned?
Wealthsimple primarily operates in Canada and the United States, with restrictions in some countries due to regulatory requirements.

Pros and Cons

Advantages:

• User-friendly platform with low fees.
• Automated investing and personalized portfolio management.
• Access to socially responsible investment options.
• No minimum investment required for some accounts.

Disadvantages:

• Limited trading options compared to traditional brokers.
• No support for active trading strategies like scalping.
• Fees may be higher for certain accounts compared to self-directed trading platforms.

Trading Instruments

What instruments can I trade?
You can invest in various instruments, including:

• ETFs (Exchange-Traded Funds)
• Stocks
• Bonds
• Cryptocurrency (in some regions)

Fees

What are the trading fees?
Wealthsimple offers commission-free trading for stocks and ETFs. However, management fees for robo-advisory services range from 0.5% to 0.4%, depending on the account size.

Scalping

Does it allow scalping?
No, Wealthsimple is not designed for scalping or high-frequency trading strategies.

Trading Platform

Is there a trading platform?
Yes, Wealthsimple provides its own trading platform accessible via web and mobile applications.

Margin Trading

Is there leveraged or margin trading?
Wealthsimple does not offer margin trading or leveraged trading options.