Wealthsimple Review: The Easy Way to Grow Your Wealth (Without Losing Your Sanity)
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Let’s be real—investing can feel intimidating. You hear words like "diversification," "compound interest," and "stock market volatility," and suddenly, scrolling TikTok seems like a better idea. But what if I told you there’s a way to invest without needing a PhD in finance? Enter Wealthsimple—the Canadian investment platform that’s here to make growing your money as easy as ordering takeout.
What Is Wealthsimple?
Wealthsimple is an online investment and financial services company that offers automated investing (aka robo-advisors), commission-free stock trading, crypto trading, tax filing, and even a spending account. It’s like having a financial Swiss Army knife—except instead of cutting yourself, it helps you build wealth (painlessly).
Wealthsimple's Commitment to Financial Education
One of the best things about Wealthsimple is that they don’t just give you the tools to invest—they actually teach you how to use them. Their blog, Wealthsimple Magazine, is packed with easy-to-understand financial advice, investment tips, and real-life money stories. Plus, their customer support team includes real financial advisors who can help answer your questions.
Key Features That Make Wealthsimple…Well, Simple
1. Wealthsimple Invest – Set It and Forget It Investing
If you want to invest but don’t want to stress over stock picks, Wealthsimple Invest is your new best friend. It’s a robo-advisor, meaning it automatically builds and manages your portfolio based on your risk tolerance. You answer a few questions, and boom, your money is put to work in a globally diversified portfolio.
✅ No stock-picking stress
✅ Hands-off investing
✅ Lower fees than traditional financial advisors
✅ Open an RRSP or TFSA to maximize tax savings
2. Wealthsimple Trade – DIY Investing, Zero Commissions
For those who like to take control, Wealthsimple Trade lets you buy and sell stocks and ETFs with zero commission fees. That’s right—no more watching your profits disappear into the abyss of brokerage fees.
✅ $0 commission trades
✅ Fractional shares (so you can own a piece of Tesla without selling a kidney)
✅ Easy-to-use mobile app
3. Wealthsimple Crypto – Ride the Crypto Rollercoaster
Want to dip your toes into Bitcoin, Ethereum, or Dogecoin (because memes)? Wealthsimple Crypto lets you trade over 40+ cryptocurrencies, all within the same app.
✅ No need for a separate crypto wallet
✅ Safe and regulated (as much as crypto can be)
✅ Easy for beginners
4. Wealthsimple Tax – Because Adulting Includes Taxes
Filing taxes is no one’s idea of a good time, but Wealthsimple Tax makes it less painful. It’s free, user-friendly, and even helps you find deductions you might have missed.
✅ Free tax filing (yes, really)
✅ Auto-fills your info (lazy people rejoice!)
✅ Works for both simple and complex tax situations
5. Wealthsimple Cash – Spend and Save Like a Pro
Think of it as a hybrid between a high-interest savings account and a checking account. It offers 4% interest on your cash, instant payments, and no fees.
✅ Earn interest on your balance
✅ Send and receive money instantly
✅ No account fees
Is Wealthsimple Worth It?
If you’re looking for an easy, low-cost way to invest and manage your money, Wealthsimple is a fantastic option. It’s beginner-friendly, has competitive fees, and offers a suite of tools to help you grow your wealth—all without making your head explode.
Who Should Use Wealthsimple?
✅ Beginners who want a hands-off investing experience
✅ DIY investors who want commission-free stock trades
✅ Crypto enthusiasts who want an easy way to trade digital assets
✅ Canadians looking for a one-stop financial hub
✅ Anyone looking to open an RRSP or TFSA for tax-efficient investing
Who Might Not Love It?
❌ Advanced traders who need detailed market data and advanced trading tools
❌ People who prefer in-person financial advisors
Final Verdict: A Wealth Win or a Wealth Womp?
Wealthsimple lives up to its name—making investing and managing money simple. It’s perfect for anyone who wants to grow their wealth without drowning in financial jargon or hefty fees. Whether you’re a hands-off investor, a stock market dabbler, or a crypto curious cat, there’s something for everyone.
So, if you’ve been waiting for a sign to start investing—this is it. Open an account, toss some money in, and let the magic of compounding do its thing. Future You will thank you (probably from a beach somewhere).
