Wealthsimple has a tiered account structure and a lot of people wonder whether it is worth paying for Premium. Here is an honest breakdown of what you actually get and who it makes sense for.
| Feature | Basic (Free) | Premium ($10/mo) |
|---|---|---|
| Commission-free trading | Yes | Yes |
| TFSA, RRSP, FHSA | Yes | Yes |
| Cash account | Yes | Yes |
| Cash interest rate | Standard | Higher rate |
| Managed portfolio fee | 0.5% per year | 0.4% per year |
| USD account | No | Yes |
| Financial advisor access | No | Yes |
| Auto-unlocked at | Always free | $100,000+ in assets |
If your total Wealthsimple assets reach $100,000, Premium unlocks automatically at no charge. You stop paying the $10/month. This means Premium is essentially a temporary subscription that disappears once your portfolio grows enough — which changes the calculus significantly for anyone actively building toward that number.
The managed portfolio fee difference is 0.1% per year. On a $50,000 portfolio that is $50 saved annually. Premium costs $120 per year. The fee saving doesn't break even with the Premium cost until you have roughly $120,000 in managed assets. If you invest self-directed rather than managed, this saving is irrelevant entirely.
The USD account is the most compelling reason to pay for Premium before hitting $100,000. If you buy US stocks regularly, every currency conversion costs you a small spread. The USD account lets you hold US dollars and buy US stocks without converting every time. For active US stock investors this pays for itself.
Financial advisor access is genuinely valuable and underappreciated. Premium includes access to a licensed Wealthsimple financial advisor for questions about tax-efficient account structure, contribution strategies, and retirement planning. At $10/month that is exceptional value if you actually use it.
The higher Cash rate matters if you park a large amount in your Cash account. The difference between the standard and Premium rates on $50,000 in cash could easily cover the $120/year Premium cost.
For most people under $100,000 in total assets, probably not unless you actively trade US stocks or want financial advisor access. At $100,000 it becomes free automatically so the question resolves itself over time.
Yes. Cancel through the app under Account Settings and you revert to Basic immediately with no penalty or fee.
No. The $25 referral bonus from code 7-MDUG is identical on Basic and Premium. Sign up on Basic and upgrade whenever it makes sense for you.
Related: Full Wealthsimple review 2026 · Wealthsimple Cash account review · Get the $25 referral code
Use code 7-MDUG, deposit $100+, get $25 cash within 24 hours. Verified October 2026.