In all fairness, fees such as those for inactivity are usually to encourage you to stay on top of your investment, which isn’t necessarily a bad thing. Most brokers charge inactivity fees – using Wealthsimple you can keep your money in your investment pockets instead of in your brokers. You also won’t be dinged if your account has been left inactive for any length of time, which is ideal for those not making regular trades for several months or longer.
You will not pay any commissions to buy and sell stocks or ETFs.
You will pay no fees to open up an account, nor will you have any minimum balance requirements. Wealthsimple is ideal for those who want to minimize their upfront costs, and with Wealthsimple Trade, essentially, there are none. For those who want to take control of buying and selling individual stocks and ETF’s, similar to Robinhood’s online trading platform, then Wealthsimple Trade should be considered your #1 alternative.
