Software
Business
Streaming
AI
Finance
Learning
Health
Data & APIs
Earn
Books
Leisure
ReviewsIs Wealthsimple actually free?
How free84/100
Value8/10
How these scores work
Free Score (0–100) follows a fixed rubric: cards up front, auto-billing, hard time cutoffs, withheld core features, and paying with your data or attention all deduct points. 90–100 truly free · 70–89 free forever · 45–69 squeezed · 15–44 trial mechanics · under 15 fake or gone. Value (0–10) is editorial: real-world worth of the free offering measured against its paid equivalent. Full rubric on the methodology page.
Yes — for Canadians, buying and selling stocks is genuinely commission-free with no minimums and no card needed to start.
What it’s worth
Old-school brokers charged $5–10 per trade; buying Canadian stocks here is $0.
What you get free
- Commission-free Canadian stock and ETF trades
- No account minimums
- Registered accounts (TFSA, RRSP) at no fee
- Fractional shares
In practice: investing without the toll booth — Canadian trades cost nothing and minimums don't exist.
Drawbacks
- A currency-conversion fee on USD trades
- Research tools are basic
- Canada only
Also paywalled
- USD accounts that skip the currency-conversion fee
- Premium perks and rates
Free facts
| Verdict | Free Forever |
| Card required | No |
| Auto-bills | — |
| Account | Required (Canada) |
| Limits | Premium tiers exist; FX fees on USD trades |
| The real cost | Commission-free trading; currency conversion is where fees hide. |
The catch
'Commission-free' isn't 'fee-free': converting CAD to USD to buy American stocks carries a currency exchange fee unless you pay for a premium tier. That's the quiet toll.
The smart play
- Trade Canadian tickers freely — the currency-conversion fee lives on USD trades
- Buying US stocks often? Price the premium tier against what you're losing to FX
- The registered accounts (TFSA, RRSP) cost nothing extra here
Common questions
Does Wealthsimple require a credit card?
No — Wealthsimple does not ask for a card to use the free version. Auto-billing: —.
What are the limits of Wealthsimple's free plan?
Premium tiers exist; FX fees on USD trades. 'Commission-free' isn't 'fee-free': converting CAD to USD to buy American stocks carries a currency exchange fee unless you pay for a premium tier. That's the quiet toll.
How do I use Wealthsimple without paying?
Trade Canadian tickers freely — the currency-conversion fee lives on USD trades Buying US stocks often? Price the premium tier against what you're losing to FX The registered accounts (TFSA, RRSP) cost nothing extra here
What does Wealthsimple really cost?
Commission-free trading; currency conversion is where fees hide.
Why is Wealthsimple free?
Commission-free trading; currency conversion is where fees hide. Old-school brokers charged $5–10 per trade; buying Canadian stocks here is $0.
Is Wealthsimple still free?
As of our last check, yes. Yes — for Canadians, buying and selling stocks is genuinely commission-free with no minimums and no card needed to start. Free tiers change without notice, which is why every page here carries the date it was checked.
More info — tap to expand
The FX toll, explained
Buying US stocks means converting CAD to USD, and the conversion carries a fee each way on the basic tier. Trade US names often and those slices exceed what commissions ever were — premium tiers sell USD accounts precisely to end this. Canadian tickers carry no such toll.
What protection you have
Wealthsimple's brokerage is a regulated Canadian dealer with standard investor protections on accounts. Commission-free doesn't mean informal — the free tier sits inside the same regulatory frame as the banks' brokerages.
Last checked: August 2026site-wide date · Verdict: Free Forever — a real permanent free plan. signup and fair limits — but no clock and no card.
🍁 Canada
Canada only — this is the home market. Commission-free CAD trades; FX fees on USD.
Visit Wealthsimple →