How to Open a Wealthsimple Account

Introduction to Wealthsimple

Wealthsimple is a popular Canadian investment platform offering a range of services, including robo-advisors, self-directed trading, and various savings accounts. Opening an account with Wealthsimple is straightforward and can be done in a few simple steps.

Eligibility Requirements

To open a Wealthsimple account, you must meet the following criteria:

  • Reside in Canada and be a Canadian citizen or have a valid Canadian Visa.
  • Meet the minimum age requirement of your province or territory (18 or 19 years old).
  • Have a valid Social Insurance Number (SIN).
  • Have a valid phone number for verification purposes.
  • Complete identity verification requirements for non-registered accounts.

Steps to Open a Wealthsimple Account

Follow these steps to open an account on Wealthsimple:

1. Choose Your Account Type

Wealthsimple offers various account types to suit different financial goals:

  • RRSP: A tax-advantaged retirement account.
  • TFSA: A flexible, tax-free savings account.
  • FHSA: Save for your first home with tax-free earnings.
  • Non-Registered Account: Flexible investment without tax advantages.

2. Visit the Wealthsimple Website

Go to the Wealthsimple website or download the Wealthsimple app. Click on the "Get Started" button to begin the account creation process.

3. Complete the Sign-Up Form

Enter your email address, create a password, and fill out the necessary personal information, including your SIN and phone number for verification.

4. Verify Your Identity

Wealthsimple will verify your identity using a credit reporting agency. If there are discrepancies, you may be asked to provide additional documentation, such as a utility bill or tax documents.

5. Fund Your Account

Once your account is set up, you can fund it by linking your bank account. You can start investing with as little as $1.

Using Wealthsimple Trade

If you choose to use Wealthsimple Trade for self-directed investing, you can trade stocks and ETFs without commission fees. Here's how to buy an ETF:

  • Search for the ETF: Use the search box to find the ETF by its ticker symbol or name.
  • Place Your Order: Select the account to trade with (e.g., Personal, TFSA), choose the order type (market or limit), and enter the number of shares.
  • Review and Complete: Review your order details and click "Buy" to complete the transaction.


Opening a Wealthsimple account is a great way to start investing with ease and flexibility. Whether you choose a robo-advisor approach with Wealthsimple Invest or a self-directed approach with Wealthsimple Trade, the platform offers tools and support to help you achieve your financial goals.

Disclaimer: The information provided is not financial advice and should not be taken as such. Please consult with a professional financial advisor before making any investment decisions.

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