Wealthsimple

WSII is a CIRO member investment dealer; WSP is FINTRAC registered and registered with the Bank of Canada as a payment service provider; crypto relief/registration is under Canadian securities regulators.

No numeric license/registration number was disclosed on the reviewed official Wealthsimple legal/help pages; WSII registration and CIRO membership are disclosed.

Wealthsimple brand includes Wealthsimple Investments Inc. (WSII), Wealthsimple Payments Inc. (WSP), and Wealthsimple Asset Management Inc. (WAMI).

No explicit negative balance protection policy found in reviewed official sources; futures and margin products can involve margin calls/losses beyond simple cash investment risk.

CIPF applies to eligible WSII investment accounts within limits; CDIC trust coverage up to CAD 1,000,000 for eligible chequing deposits; crypto assets themselves are not protected by CIPF/CDIC.

No general account minimum; investing can start with $1 for eligible fractional ETFs/stocks; private market fund as little as $10,000.

Not disclosed as a securities spread; Wealthsimple discloses FX conversion fees/corporate exchange-rate spread and crypto trading fees instead.

Commission-free stocks/ETFs; product-specific fees apply for FX, crypto, futures, precious metals, some index options and special services.

Maximum leverage ratio is not disclosed in a simple maximum-leverage table; Wealthsimple offers margin with rates as low as 3.95%, and futures margin/leverage depends on exchange requirements and product.

Bank transfer/EFT deposits are $0 according to the trade fee schedule.

Standard EFT withdrawals are free; instant withdrawals cost 2.5%; wires/network fees may apply.

Inactive account fee is $0.

Users must live in Canada; Wealthsimple is not licensed to hold accounts for individuals living outside Canada, including Canadian citizens abroad.

Wealthsimple supports stocks, ETFs, options, futures, crypto, precious metals/gold, managed portfolios and cash products.

Clients can place orders through Wealthsimple mobile application, website, or trading desk; platform is app/web based rather than MT4/MT5.

Registered and non-registered accounts, managed/trading/crypto/cash account types are offered, with availability varying by product.

Multiple funding methods are supported, with availability varying by account type.

Withdrawals can be made to linked bank accounts; instant debit-card withdrawals are available for eligible cards; chequing also supports cheques/bank drafts/wires where applicable.