Wealthsimple Review 2025: Why It’s My Primary Investing App

One of the upsides of being the personal finance niche since 2011 is that I see when a new fintech tool hits the market- and Wealthsimple was one of those tools.

I can hardly believe it’s been over 10 years since I first downloaded Wealthsimple. While I’ve been investing for a long time (TD E-series at first), I never thought that having easy-to-access tools that live on my phone would make me a more intuned investor later on.

I’d tried a couple of other investing platforms that either charged ridiculous fees or had interfaces so complicated I needed a finance degree just to navigate them.

Not exactly what I was looking for as someone who just wanted to grow my money without the headaches.

My Personal Journey: An Honest Wealthsimple Review

The thing about investing is that it gets real personal, real fast.

We’re talking about your hard-earned money, after all. When I first signed up for Wealthsimple, I was honestly skeptical. Another fintech promising to revolutionize investing? I’d heard that before.

But I decided to start small. I transferred just enough to test the waters – maybe a thousand bucks or so. The sign-up process was surprisingly painless, asking straightforward questions about my risk tolerance and goals rather than bombarding me with industry jargon.

What really got me hooked in those early days wasn’t just the clean interface (though that definitely helped). It was how the app made me feel like I finally understood what was happening with my money.

What Keeps Me Around After All These Years

I’ve stuck with Wealthsimple through three phone upgrades, two job changes, and countless market ups and downs. Here’s why I haven’t been tempted to switch:

They Actually Explain Things Like I’m a Human

One Friday night about two years into using Wealthsimple (yes, I occasionally check my investments on Friday nights – judge me), I noticed they had added these simple explanations for market changes. There had been a pretty significant dip that week, and instead of just showing me the scary red numbers, they explained the factors behind it in plain English.

That might seem small, but it’s exactly the kind of thoughtful touch that’s kept me loyal. They respect that I’m smart enough to understand investing concepts without a finance background, if only someone would take the time to explain them properly.

The App Grows With You

When I first started, I was all about their automated investing.

Set it and forget it; check in occasionally to feel good about being financially responsible. But as I’ve learned more over the years, I’ve wanted more control over certain investments.

Rather than having to jump to another platform,

Wealthsimple introduced its Trade feature, which lets me pick individual stocks when I want to. Then, they added crypto options when that became something I wanted to explore (cautiously, with a small portion of my portfolio). They’ve somehow managed to grow alongside my evolving investment comfort level.

GET A $25 BONUS WHEN YOU SIGN AND FUND YOUR ACCOUNT

Real Talk About Fees

Here’s something that still bugs me about the financial world – hidden fees that eat away at returns. My brother always warned me about this, and he was right.

With Wealthsimple, I pay 0.5% on my managed stuff. That’s it. I’ve run the numbers comparing what I’d have paid at traditional brokerages over the years, and the difference is honestly shocking—we’re talking thousands saved. For their trade platform, I can buy and sell most stocks without commissions.

This transparency isn’t exactly exciting to talk about, but it’s made a real difference in my returns over time.

The Features I Actually Use

Not every bell and whistle matters, but these are the features I’ve found genuinely useful:

Automatic Deposits That Keep Me Consistent

If left to my own devices, I’m terrible at saving consistently. My Wealthsimple account automatically pulls money from my checking account the day after each payday before I can spend it on something unnecessary. This forced consistency is probably the single biggest factor in how I’ve built my portfolio over time.

Sometimes I forget it’s even happening until I check my balance and think, “Wait, how did I save that much?” It’s like paying my future self first, and that future self is getting increasingly grateful.

The Roundup Feature That Makes Cents of Spare Change

I activated their roundup feature on a whim a few years back. It rounds up my everyday purchases to the nearest dollar and invests the difference. Those 30 or 40 cents here and there don’t seem like much, but they’ve added up to nearly $3,000 in additional investments over the years. That’s money that would have disappeared into random purchases otherwise.

Their Socially Responsible Options

Wealthsimple’s socially responsible portfolios let me align my investments better with my values. And contrary to what I feared, the performance has been solid – sometimes even outperforming their standard options during certain periods.

The Real Results After a Decade

So what’s the bottom line after more than ten years? Despite some inevitably rocky periods (looking at you, 2020), my portfolio has grown steadily. The exact numbers are personal, but I’m comfortable saying that consistent investing through Wealthsimple has been the single most effective financial decision I’ve made.

What’s harder to quantify but equally valuable is the peace of mind. I don’t lie awake worrying about whether I’m making smart investment choices or getting ripped off by hidden fees. That mental clarity alone has been worth the journey.

Is It Right for You?

Look, no investment platform is perfect for everyone. My brother uses a different service that works better for his specific needs, and that’s fine. Wealthsimple has been ideal for me because:

• I value simplicity and clarity above having endless complex options
• I wanted a mix of automated and self-directed investing capabilities
• Their fee structure aligns with my goals of maximizing long-term returns

Their app doesn’t give me a headache every time I open it – which honestly matters more than you’d think.

What I Wish I’d Known Earlier

If I could go back and give my younger self some advice about investing with Wealthsimple, I’d tell him a few things:

Start with their pre-built portfolios before diving into individual stocks. When I first got access to Wealthsimple Trade, I wasted some time (and money) trying to pick winners. I should’ve stuck with their balanced portfolio longer while I learned the ropes.

Take advantage of their tax-loss harvesting sooner. I didn’t enable this feature until about four years in, and I missed out on some tax savings during a market downturn. Rookie mistake.

Use the TFSA account before non-registered accounts. I split my investments across different account types initially without maximizing my TFSA first. Once I reorganized things properly, the tax benefits became a lot clearer.

Don’t check your account during volatile markets unless you have ice in your veins. There was a stretch in 2018 where I kept logging in during a dip, getting anxious, and considering selling. Thankfully I didn’t, but those daily check-ins weren’t good for my blood pressure.

The Downsides (Because Nothing’s Perfect)

In the interest of keeping it real, there are a few things that could be better:

• Their customer service is generally good, but during peak times you might wait a while for responses. Not the end of the world, but worth noting.
• The app occasionally glitches after updates. Usually fixed within a day, but annoying when you’re trying to check your portfolio.
• They’ve raised fees on certain services over the years. Still competitive, but not quite as disruptive as when they first launched.
• If you’re looking for ultra-advanced trading tools like those used by day traders, you won’t find them here. But then again, that’s not who they’re built for.

Despite these minor gripes, the overall experience remains head and shoulders above what I experienced with traditional banks. The proof is in the pudding – I’m still here a decade later, with no plans to leave.

This Wealthsimple review is by no means an exhaustive list of pros and cons, but if my rambling about Wealthsimple has you curious, give them a look. And if you decide to sign up, my affiliate link gets us both a little bonus. Consider it my thank-you for reading this far!