The Wealthsimple Report: September 2023

We’re back, better, and monthly. This is The Report — a simpler way to keep you in the loop on everything we’ve got going on.

What’s launched lately ✨

The FHSA is here

There’s no place like your first home, and a First Home Savings Account (FHSA) is a super-smart way to save for it.

With an FHSA, you can contribute up to $8,000/year, to a maximum of $40,000 total, completely tax-free. And you don’t have to pay it back.*

Excited? Us too. Watch this video for all the details.

👉 Open an FHSA

You’re earning more interest on your cash

It’s true. The interest rate on Wealthsimple Cash accounts is now 4% for everyone (4x the previous rate). Premium clients are bumped up to 4.5% and Generation clients will now receive 5% on cash balances.

👉 Make a deposit

👉 Open a Cash account

Options trading for as low as $0.75 USD/contract

Premium and Generation clients can now trade options with an options contract fee of just $0.75 USD/contract**. Not there yet? No biggie. You'll pay $2 USD/contract*, and you can trade over 200 new symbols.

👉 Explore options trading

Introducing options auto-sell

The perk? Less work. Auto-sell automatically tries to sell your profitable options 30 minutes before they expire. Not only does the hands-off approach save you tons of time and energy — you won’t miss deadlines when life happens.

👉 Turn on auto-sell

New Cryptocurrency: ARB is now available to trade

You can now buy and sell ARB (Arbitrum) alongside ETH (Ethereum), Bitcoin (BTC) and 60+ other cryptocurrencies on Wealthsimple.

👉 Start trading

Even more improvements 🔨

Use Cash for recurring investing

Later this month you’ll be able to use your Cash account as a funding source for your recurring buys of stocks, crypto, and ETFs. Find and select Cash from the list of funding options.

Start auto-investing ➡️

Transfer your trade account on desktop

We heard you. Now you can transfer an external trade account right to Wealthsimple on desktop.

And it gets better. We launched a new in-app tracker to keep you in the loop. Now when you transfer, you’ll know when your request has been received, is underway, and if any additional documents are required.

Start a transfer  ➡️

You asked. We listened. 🤝

Coming soon: A simpler activity feed

Whether you’re connected on the app, at home, or on the go — we’re always working on ways to make your experience seamless.

That's why our new activity feed will display your total balance, accounts, and transactions, all with a single tap.

Stay tuned!

Exciting extras 🥳

• Join our client call on September 13th! Portfolio Manager Dan Tersigni and Chief Investment Officer Ben Reeves will be offering an in-depth look at housing as an investment. They’ll cover how to know if a mortgage is right for you, paying down your mortgage vs. investing, and their perspective on long-term housing returns.

  👉 Register now 

• Refer friends. Get 4X the rewards. Now until September 13th, earn 4x the rewards when you refer your friends to Wealthsimple. If they just open and fund ANY account — you could each walk away with up to $12,000 🎉

  Terms and conditions apply.***

  👉Refer friends 

Cash interest: Annualized rate, calculated daily, paid monthly. Subject to change. For more information see https://wsim.co/rates

Options contract fee: Wealthsimple charges US$0.75 per contract to Wealthsimple clients with Premium and Generation status, and US$2.00 per contract to Wealthsimple clients with Core status. Other fees apply. All investments involve risk. See here and here for details.

Have questions? Visit our Help Centre or submit a request to our Client Support team.

*This content is provided for informational purposes and should not be construed as financial, investment, or tax advice by any individual. For full details about the FHSA, refer to the CRA website.

**Wealthsimple charges US$0.75 per contract to Wealthsimple clients with Premium and Generation status, and US$2.00 per contract to Wealthsimple clients with Core status. Other fees apply. All investments involve risk. See here and here for details.

***Until September 13, 2023, existing clients that refer a new client who (i) opens and funds a Wealthsimple Stocks & ETFs account, Wealthsimple Crypto account, Wealthsimple Managed Investing account, or Wealthsimple Cash account (each an “Account”) using a referral link or unique promo code, and (ii) funds the Account during the promotion period, will each receive a cash bonus between CAD$20 and CAD$12,000. Average cash bonus is CAD$30 and ~99% of clients receiving less than CAD$200. Max 1 bonus for each referred new client. Must be the age of majority and resident of Cda (excl. QC). Full terms at apply.

Please allow up to 72 hours for your deposit to reach your account and to be activated for the 4% interest rate.

All information and commentary provided is for illustration purposes only and is not investment advice or recommendations. All investments involve risk. To get more info on our products, investment decisions, fee schedules, user testimonials, promos & more visit wsim.co/disclaimers.

Written By

The Editors

Wealthsimple's education team is made up of writers and financial experts dedicated to making the world of finance easy to understand and not-at-all boring to read.