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Wealthsimple review

Updated September 28, 2026 · HodlCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Wealthsimple pairs a Canadian crypto exchange with a prepaid visa card, which suits people who want to buy coins and spend them from the same account. It lists from 170 coins, wide enough for most portfolios, and the card carries travel features for paying abroad.

Key facts

Best for
Buying and spending crypto in Canada from a single app.
Monthly fee
CA$0↗
Currency conversion fee
0%↗
Free ATM withdrawals
CA$0↗
Card type
Prepaid↗
Card network
Visa↗
Legal entity
Wealthsimple Inc.↗
Headquarters
Canada↗
Founded
2014↗
Support channels
Chat, Phone, Email, Help-centre↗
Features
Travel
Official website
wealthsimple.com

Crypto exchanges

Taker fee
0.5%↗
Coins listed
from 170↗
Regulators
Canadian Investment Regulatory Organization (CIRO), Ontario Securities Commission, Money services business registration under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada)↗
Fiat deposit methods
Card, Bank↗
Maker fee
0.5%↗
Withdrawal fee
No Wealthsimple withdrawal fee; blockchain network fee only↗
Derivatives
Yes↗
Exchange type
Cex↗

Facts checked September 26, 2026, 7 sources

Apps and profiles

Elsewhere
WikidataWikipediaLinkedInXnewsroom.wealthsimple.com

Pros and cons

Pros

  • A coin list of from 170, well above the site median of 62.
  • Regulatory status listed as Canadian Investment Regulatory Organization (CIRO), Ontario Securities Commission and Money services business registration under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada), so the firm is a registered Canadian operation.
  • Support by chat, phone and email for anyone who would rather talk to a person.
  • Funding by card and bank, so cash can arrive by card or bank transfer.

Cons

  • Trading fees of 0.5% a trade sit above the site median of 0.2%.
  • Free ATM withdrawals are CAD 0, so cash machine use needs a fee budget.
  • It runs as a cex, so custody sits with the platform rather than a wallet you hold.
Wealthsimple

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Scored 9.1 / 10 by HodlCue.

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Who it suits

  • Canadians who want to buy coins and pay with the same balance in the same app.
  • Newcomers to crypto who prefer a regulated Canadian firm over a peer-to-peer marketplace.
  • Card holders who travel, since the card lists travel features.

Who should look elsewhere

  • Euro-based readers: Bitpanda lists a monthly fee of €0 and runs outside the Canadian market this card serves.
  • Sterling-based readers: Monzo Flex lists a monthly fee of £0 on UK terms, a separate market.

Trading and withdrawal fees

A monthly fee of CAD 0 and a currency conversion fee of 0% mean the card adds nothing to a monthly budget. Because the card is funded from the balance you hold, converting and spending in another currency leaves nothing extra to pay at the point of sale. The costs that do bite sit on the trading side, not the card.

Who runs it

Wealthsimple Inc. is headquartered in Canada and was founded in 2014. Support runs on chat, phone and email, covering every channel a reader would look for first, from a self-serve help centre to phone. Questions on custody, fees and the card can be raised in the same place.

How Wealthsimple compares

Where Wealthsimple is available

Available
Canada
Licence in Canada
Canadian Investment Regulatory Organization (CIRO), checked September 26, 2026
Licence in Canada
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the card cost each month?+

The monthly fee is CAD 0 and the currency conversion fee is 0%. Nothing is added for holding the account, so the card costs nothing to keep. Money is loaded onto the card from your balance, and spending in another currency does not add a conversion charge to the purchase.

How much does each crypto trade cost?+

Taker fees are 0.5% and maker fees are 0.5%, set against a site median of 0.2%. That sits above the middle of the comparison table, so frequent traders pay more here than at the cheaper end. These fees apply to the crypto side, not the card.

How do I deposit and withdraw?+

Funding runs through card and bank, so cash can arrive by card or by bank transfer. On the way out, Wealthsimple adds no withdrawal fee of its own; the blockchain network fee is the only cost of moving coins to another address.

Is Wealthsimple regulated?+

Regulatory status is listed as Canadian Investment Regulatory Organization (CIRO), Ontario Securities Commission and Money services business registration under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada). That covers the Canadian Investment Regulatory Organization, the Ontario Securities Commission and money services business registration, with FINTRAC among the named regulators. Coins are held on a registered Canadian platform rather than an offshore one.

Is the card a debit card?+

It is a prepaid card on the visa network, with travel features listed for spending away from home. The free ATM allowance is CAD 0, so cash machine withdrawals are not free and need a budget. Purchases run straight off the balance you hold.

How many coins can I trade?+

The coin list runs to from 170, well above a site median of 62. That covers the majors and a long tail of smaller assets in the same account. The exchange is a cex, so coins are held on the platform rather than in a wallet you control.

Who is Wealthsimple for?+

It fits Canadian residents who want to buy crypto and pay with the same balance, and who want a regulated firm rather than a peer-to-peer marketplace. Derivatives trading is available, which adds an extra market on top of spot. Support runs on chat, phone and email.

Sources

Compiled from 8 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Protection.

Wealthsimple

Wealthsimple

Buying and spending crypto in Canada from a single app.

9.1/10See alternatives