The Bottom Line: Wealthsimple Trade is a commission-free platform that's great for beginner investors, investors with a small budget, and investors that want Canadian stocks. The downside is it has an expensive 1.5% conversion fee on US stocks when you buy and sell. It depends on your need as an investor but overall, Wealthsimple is one of the best and cheapest platforms in Canada for 2021.
Pros & Cons
Where Wealthsimple Shines:
Where It Falls Short:
Is Wealthsimple Trade Right For You?
Wealthsimple is one of the most popular Canadian brokerages. They are the first to bring commission-free trades to Canada. Although they are not perfect, no broker is and they are raising the bar for Canadian platforms overall. Is it right for you:
- Best for CAD stocks/ETFs
- Great for beginners
- $25 free when you trade $100