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Wealthsimple review

Founded 2014HQ Toronto, Ontario, CanadaPlatforms Web, Mobile

Connect Wealthsimple

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Trade & Sync with QuantWheel

Direct integration. QuantWheel reads your positions and trades at Wealthsimple, gives you personalized suggestions and sends the orders you approve to Wealthsimple.

Fee per contract
US$0 per contract
to open a contract
Exercise and assignment
Free
no fee per event
Approval
Naked
up to naked short options
Margin rate
4.95%
on a $50,000 balance
Countries
Canadian residents only
from the broker's own pages

What you can trade

From the options agreement

  • 0DTE
  • Index options (SPX)
  • Options on futures (Not published)
  • Spreads in an IRA, not offered
  • Portfolio margin (Not published)
  • Paper trading (Not published)
  • 24/7 support

PlatformsWeb, Mobile

Cost to open

Per-contract fee only

One cash-secured put1 contract
$0
Ten-lot iron condor40 contracts
$0
Twenty covered calls20 contracts
$0
One turn of the wheelput assigned, call exercised, 2 contracts
$0

Exchange fees and per-order minimums are extra where the fee schedule has them.

What Wealthsimple costs for the way you trade

A year of fees from Wealthsimple's published prices, checked 7 and 8 October 2026.

How you trade
8
1
$1.20
Wealthsimple standard price$0.00 a trade, under 0.1% of your premium
$0.00 a year
Among 5 brokers open to residents of CanadaLowest for this pattern
1st

Not counted because Wealthsimple does not publish them: clearing fee, options regulatory fee, SEC fee, FINRA trading activity fee.

Compare every broker for this pattern

QuantWheel

Trade & Sync with QuantWheel

Direct integration. QuantWheel reads your positions and trades at Wealthsimple, gives you personalized suggestions and sends the orders you approve to Wealthsimple.

Connect Wealthsimple

Fees explained

What each line of the fee schedule means for an options order

Wealthsimple

US$0 per contract, charged on each leg. A ten-lot iron condor is 40 contracts, so $0 to open, and the same again if you close it before expiry. Exchange fees and per-order minimums are extra where the fee schedule has them.

No fee per event. An assigned put or an exercised call costs nothing beyond the per-contract fee. Cost to open

The options agreement approves up to naked short options in a margin account. Spreads are not allowed in an IRA. It does not publish whether portfolio margin is offered.

Not published.

What changed at Wealthsimple

Every fee, term and policy we track, with the day it moved

No change recorded since the last check. A change to a fee or a rule appears here on the day we record it.

Questions people ask

Answered from the documents above

Wealthsimple

Yes, it is Trade & Sync. QuantWheel syncs the account's positions and trades, suggests trades and rolls, and sends the orders you approve to Wealthsimple. Connect Wealthsimple

US$0 per contract, and no fee per exercise or assignment, from the fee schedule checked 8 October 2026. Exchange fees are extra. Compare fees across brokers

0DTE trading is allowed. Index options such as SPX are offered. The options agreement approves up to naked short options in a margin account. Brokers for 0DTE

Canadian residents only, according to Wealthsimple's own pages. Check with Wealthsimple before you open an account. Brokers by country

Facts from Wealthsimple's own fee schedule and options agreement, checked 8 October 2026.