Everyday Fee Schedule
Below is a list of fees associated with normal day-to-day transactions. The only trading fee we charge in our crypto trading accounts is a 1.5-2% Operations Fee per transaction. This is charged by applying a spread on the bid and ask prices at which buy orders and sell orders execute. Trading spreads are presented in the Wealthsimple app.
For illustrative purposes, if you place an order to buy $100 of bitcoin and the trading spread is 150bps, you will pay $1.50 for the transaction. This spread covers custodial expenses charged by our third-party custodian, Gemini, and Wealthsimple business costs.
Wealthsimple will not earn any other revenue from trading crypto-assets. In particular, Wealthsimple will not apply any of the following fees:
|Deposits via Bank Transfer (EFT)||$0|
|Withdrawals via Bank Transfer (EFT)||$0|
|Electronic Statements and Trade Confirmations||$0|
|Operations Fee||1.5-2% per transaction|
By-request transactions or extenuating circumstance fees
The following are transactional fees that only apply if you request the associated service and the request is approved by a Wealthsimple representative.
|Special Requests & Investigation||$75 per hour|
Note: The above list of fees is accurate as of February 1st, 2021. Fees are subject to change on no less than 60 days written notice.