Wealthsimple Crypto Fee Schedule
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% fee per transaction. This is charged by applying a fee in addition to the prices at which buy orders and sell orders execute. Trading fees are presented in the Wealthsimple app.
For illustrative purposes, if you place an order to buy $100 of bitcoin and the trading fee is 1.5%, you will pay $1.50 for the transaction.
Description & Amount
Commission Fees: $0
Account Opening: $0
Account Closing: $0
Deposits via Bank Transfer (EFT): $0
Withdrawals via Bank Transfer (EFT): $0
Electronic Statements and Trade Confirmations: $0
Inactive Accounts: $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.
Description & Amount
Special Requests & Investigation: $75 per hour
If you stake tokens using the staking functionality, Wealthsimple Crypto charges you a fee equal to a percentage of staking rewards received. Staking rewards and the fee Wealthsimple Crypto charges vary by token. The fee for each token supported for staking is set out below:
Token & Fee
Solana (SOL): 30%
Ethereum (ETH): 30%
This fee is deducted from your rewards when rewards are distributed to you by Wealthsimple. Please note that for some tokens, the third-party validators to which your tokens are staked can set a “validator commission” rate and receive a portion of your rewards as the “validator commission”. Wealthsimple Crypto’s fee is applied after deduction of any applicable validator commissions. For further information, refer to the Crypto Asset Statement for the token and the Wealthsimple Crypto Product Risk Disclosure.
For illustrative purposes, if you stake 100 SOL, the network issued rewards of 5%, the validator commission is 10%, and Wealthsimple Crypto’s fee is 30%, you should receive approximately 3.15 SOL:
Gross rewards (5%): 5 SOL
Less: Validator commission (10%)(0.5) SOL
Received by Wealthsimple Crypto: 4.5 SOL
Less: Wealthsimple Crypto fee (30%)(1.35) SOL
Net rewards to client: 3.15 SOL
Total fees: 1.85 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.
Note: The above list of fees is accurate as of September 7, 2022. Fees are subject to change, with notice in accordance with applicable requirements.