Wealthsimple Crypto Fee Schedule
Effective October 17, 2023
Wealthsimple charges a trading fee on each order based on the value of the crypto bought or sold by the order. The trading fee varies by your client tier, as set out below:
Core - 2%
Premium - 1%
Generation - 0.5%
When you place an order, Wealthsimple obtains prices from Wealthsimple’s liquidity providers. Where liquidity providers provide prices in USD, Wealthsimple converts this price to CAD and includes the applicable trading fee in the price shown to you.
When your orders are settled, Wealthsimple Investments Inc. (WSII), which holds your CAD funds, will as required convert funds between CAD to USD using its corporate exchange rate. WSII earns income on the corporate exchange rate, but this cost is included in the trading fee described above.
Due to rounding of monetary amounts, the amount of the trading fee charged may not precisely equal the percentage fees set out above. The minimum trading fee for an order is $0.01. The quantity of crypto bought or sold by an order may be rounded depending on, among other factors, the price and technical requirements from liquidity providers. Quantities of crypto will be shown to at most six decimal places.
Example Trading Fee Calculation
For an order to buy 0.01 bitcoin when the liquidity provider’s price of 1 bitcoin is $30,000 CAD, the trading fee will be as follows:
Core - $6.00 (total cost: $306.00)
Premium - $3.00 (total cost: $303.00)
Generation - $1.50 (total cost: $301.50)
For an order to sell 0.01 bitcoin when the liquidity provider’s price of $30,000 CAD, the trading fee will be as follows:
Core - $6.00 (total proceeds: $294.00)
Premium - $3.00 (total proceeds: $297.00)
Generation $1.50 (total proceeds: $298.50)
For an order to buy $100 of bitcoin when the liquidity provider’s price of 1 bitcoin is $30,000 CAD, the trading fee will be as follows:
Core - $1.96 (you receive 0.003268 BTC)
Premium - $0.99 (you receive 0.003300 BTC)
Generation - $0.50 (you receive 0.003317 BTC)
All examples are for illustrative purposes only.
If you stake crypto, Wealthsimple charges you a fee equal to a percentage of staking rewards received. Staking rewards may vary by token.
Wealthsimple’s staking fee vary by your client tier, as set out below:
Core - 30%
Premium - 30%
Generation - 15%
Please note that the third-party validators to which your tokens are staked also charge fees that are applied to staking rewards. For some tokens, a validator can set a “validator commission” rate and automatically receive a portion of your rewards as the “validator commission” when rewards are issued by the blockchain. For these tokens, Wealthsimple’s fee is deducted from the full amount of staking rewards received by Wealthsimple on your behalf. For other tokens, when staking rewards are received by Wealthsimple, Wealthsimple will first deduct the validator’s fees to pay the validator on your behalf. Wealthsimple then deducts its staking fee from the remaining rewards when they are distributed to you.
The validator fees/commissions for each token are set out below:
Ethereum (ETH): Approximately 5%
Please note that account statements and fee reports issued by Wealthsimple only show Wealthsimple’s staking fee, not validator fees/commissions.
Example Staking Fee Calculation
For illustrative purposes, if you stake 100 SOL, the network issued rewards of 5%, the validator fee/commission is 10%, and Wealthsimple’s fee is 30%, you should receive approximately 3.15 SOL if you are a Core or Premium client:
Gross rewards (5%): 5 SOL
Less Validator fee/commission (10%): (0.5) SOL
Subtotal: 4.5 SOL
Less Wealthsimple staking fee (30%): (1.35) SOL
Net rewards to client: 3.15 SOL
Total fees: 1.85 SOL
If you are a Generation client, you should receive approximately 3.825 SOL and total fees would be 1.175 SOL.
This example is for illustrative purposes only and does not take into account, among other factors, variability in reward rates over time or the compounding of rewards.
All blockchain transfers require the payment of network fees (which may be referred to as miners’ fees, gas fees, transfer fees or otherwise) to the blockchain network. Network fees are outside the control of Wealthsimple. When you send crypto, Wealthsimple will provide you with an estimate of the network fee before the crypto is sent. Once the crypto is sent,you will pay the network fee actually charged by the blockchain network.
When sending tokens based on the ERC-20 token standard on the Ethereum network, which charges network fees in Ethereum (ETH), Wealthsimple will provide an estimate of the network fee converted from ETH to the equivalent number of ERC-20 tokens. When the withdrawal is complete, you will pay the network fee actually charged by the Ethereum network converted into the equivalent amount of ERC-20 tokens based on market prices at the time.
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.
Description & Amount
Special Requests & Investigation $75 per hour
Note: The above list of fees is accurate as of October 17, 2023. Fees are subject to change, with notice in accordance with applicable requirements.