Plus is a paid subscription that gives you access to more features in your stock trading accounts.
- U.S. Dollar accounts with no foreign exchange fees or commissions for buying and selling U.S. equities
- Institutional transfers for U.S. securities and USD cash with no currency conversion fees
- Instant deposits starting at $5,000. Learn more.
Before you begin
- When you upgrade to Plus, you'll get a USD account to go with each of your CAD stock trading accounts. Accounts managed by Wealthsimple won't receive a corresponding USD account.
- We'll automatically transfer your U.S assets from your CAD stock trading account into your new USD account. This will happen instantly.
- We won't transfer any dual-listed securities into your USD accounts.
- USD accounts are only available for trading stocks and ETFs, not cryptocurrencies.
- If you're moving from Trade Premium to Plus, we'll put any unused portion of your current monthly fee towards your Plus membership.
Sign up for Plus
If you’d like to subscribe to Plus and your cash balance is less than $10 (plus tax), you might need to make an instant deposit to complete your subscription.
- Sign into the Wealthsimple app on your mobile device
- Tap the Settings tab at the bottom of the screen
- Choose the Subscription menu item
- Select Upgrade
- Choose the account you want your monthly subscription payment to come from
- Select Confirm
More details
- Your monthly subscription payment will be withdrawn from your Available to trade balance. Please make sure you have a cash balance in your account to cover the cost of your subscription each month. If you don't want to worry about whether you have enough cash in your account each month, consider setting up an auto-deposit to cover your subscription fee.
- We’ll notify you in the Wealthsimple app and by email if you don’t have enough funds in your account to cover your subscription fee.
- If you decide to cancel your Plus subscription in the future, we'll simply merge your Canadian Dollar and U.S. Dollar accounts back into a single account. We'll also convert any remaining USD in your account back to CAD.
Is Plus right for me?
If you like to buy and sell U.S. securities several times a month, a Plus subscription might be a good fit for you. If you don't trade very often, or tend to only trade Canadian securities, the Basic plan might be the right fit for you.
In the following example, you can see how a Plus subscription saves you money when you trade a series of U.S. securities. To keep things simple, all amounts are in CAD.
|
Wealthsimple Basic |
Plus subscription |
|
|
Fees |
$0 per month with a 1.5% currency conversion fee when buying and selling U.S. securities |
$10 per month with a 1.5% currency conversion fee when converting between USD and CAD |
|
Deposit $5,000 CAD and convert to USD |
N/A |
$75 |
|
Buy $2,000 of $A |
$30 |
$0 |
|
Sell $1,000 of $A |
$15 |
$0 |
|
Buy $1,000 of $B |
$15 |
$0 |
|
Buy $3,000 of $C |
$45 |
$0 |
|
Sell $1,000 of $A |
$15 |
$0 |
|
Buy $1,000 of $D |
$15 |
$0 |
|
Sell $3,000 of $C |
$45 |
$0 |
|
Buy $1,000 of $D |
$15 |
$0 |
|
Buy $2,000 of $B |
$30 |
$0 |
|
Sell $2,000 of $D |
$30 |
$0 |
|
Sell $1,000 of $D |
$15 |
$0 |
|
Convert and withdrawal $3,000 CAD |
N/A |
$45 |
|
Total cost |
$270 |
$130 (includes $10 subscription) |
Frequently asked questions
How do U.S. Dollar accounts work?
When you upgrade to Plus, we'll automatically add a USD account to each of your eligible accounts. We'll also transfer any U.S assets you hold in your CAD account into your USD account.
When you want to add funds to your USD account, you can convert your Canadian Dollar cash balance into U.S. Dollars. There is a 1.5% foreign-exchange fee to convert your funds from CAD to USD. We don't currently accept deposits in USD or deposits from USD bank accounts.
Once you have U.S. Dollars in your USD account, there are no fees or commissions to buy or sell shares in your USD account.
Please note it’s currently not possible to move a USD cash balance between USD accounts.
How does the instant deposit limit work?
With Plus, you can deposit your unique instant deposit limit (starting at $5,000) immediately every 3 business days. You can use it all at once as a single deposit, or make multiple deposits within the 3 day period.
For example, let's say your instant deposit limit is $5,000. You may choose to deposit $5,000 in one go, or deposit $500 on the first day and then $500 the next day.
If you deposit more than $5,000 in a single transaction – or in a 3-day window – you can still trade $5,000 straight away. But you'll need to wait three business days before you can trade the extra amount over $5,000.
Can I transfer assets in a USD account from another institution to Wealthsimple?
Yes. You can transfer your holdings or cash balance from a USD investment account straight into your Wealthsimple USD account. There are no currency conversion fees to transfer U.S. securities or USD cash into your Wealthsimple USD account.
Can I deposit USD into my USD account? Or withdraw USD from my USD account?
We don't currently accept deposits in USD or deposits from USD bank accounts.
When you want to add funds to your USD account, you can convert your Canadian Dollar cash balance into U.S. Dollars. When you convert Canadian Dollars into U.S. Dollars, there is a one-time 1.5% currency conversion fee.
You can also transfer USD from an investment account at another institution. There are no currency conversion fees when you transfer USD from another institution.
How do I change my billing account?
You can choose which account you'd like your subscription fee to come from.
- Sign into the Wealthsimple app on your mobile device
- Tap the More tab at the bottom of the screen
- Choose the Profile menu item
- Tap Plus under the Subscription heading
- Tap on Billing account and select a different account
Can I use journaling or Norbert’s Gambit to avoid currency conversion fees?
Journalling or Norbert’s Gambit, is the process of moving an asset listed in both CAD and USD to the other currency to avoid currency conversion fees.
Wealthsimple doesn't support journalling or Norbert’s Gambit at this time.
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