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Wealthsimple vs Coinbase

Wealthsimple vs Coinbase Comparison Table 2023
Wealthsimple Review 2023 Coinbase Review 2023
Review
3.1
Review
1.4
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted
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Wealthsimple offers managed investment portfolios to Canadian residents. Clients can build a trading solution based on their financial goals and risk tolerance. Buy and sell stocks, ETFs, and cryptocurrencies. 2 million+ accounts have already been opened.

Coinbase is a leading cryptocurrency exchange that provides access to 18,000+ crypto assets that can be traded on the marketplace, stored in a wallet or borrowed via the brand's DeFi function. The US-based firm has over 10 million clients and offers educational support to individual traders and tailor-made derivative products for businesses.

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Bonus Offer
£5/$5 in BTC. Terms and Conditions Apply. See Review
Comment by Reviewer
"Canadian traders looking for passive income opportunities will be well served by Wealthsimple. The quick and easy joining process also means you can sign up and start trading in a few minutes." "Coinbase is a good option for dedicated crypto investors who want a vast selection of established and low-market-cap tokens. The platform makes it straightforward for new crypto investors to buy and sell Bitcoin in a few clicks."
Pros
  • Simple and secure onboarding process through an intuitive and well-reviewed mobile app - start investing in 5 minutes
  • Trade stocks from as little as $1 with zero commissions, plus Canadian fractional shares including Shopify and Royal Bank of Canada
  • Attractive perks available for Premium and Generation clients, including airport lounge access, 15% off your will, and health plans
  • Trade and stake digital coins on Canada's first regulated crypto platform and earn decent rewards of up to 4.6% per year
  • Accessible educational resources, including Personal Finance 101 and an engaging proprietary online magazine
  • Options trading available with flat $2 per contract pricing using any of the stocks and ETFs accounts
  • Powerful purpose-built crypto trading platform with backtesting capabilities
  • Well-regarded crypto exchange with thousands of tokens available
  • One of the most trusted brands in the crypto space
  • Fast execution speeds on the trading software
  • Slick app with excellent customer feedback
  • Margin trading available in some countries
  • You can sign up in three quick steps
Cons
  • Only Canadian residents can join after operations ceased in the USA and the UK
  • Limited to investing only in stocks, ETFs and cryptos
  • High management fees compared to competition
  • Long waiting time for non-instant deposits
  • Coinbase trades don't take place anonymously
  • Occasional bugs have caused issues on the system
  • Lower safety score vs established crypto brokers
Awards
  • Best Financial Services Website - Webby Awards
  • Top 100 Global Financial Technology Companies - Fintech 100
Instruments
Stocks, ETFs, Cryptocurrencies Crypto, Perpetual Swaps
Demo Account
No No
Minimum Deposit
$1 $0
Trading Platforms
  • Own
  • AlgoTrader
Payment Methods
Minimum Trade
$1 0.0001 XBT
Regulator
CIRO CBoI
Margin Trading
No Yes
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
Yes No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android Yes
Auto Trading
Yes via robo advisor
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
Yes No
Account Currencies
  • USD
  • CAD
Stock Exchanges
Commodities
Cryptocurrency
Trade 50+ cryptocurrencies including Bitcoin and Ethereum with a competitive 1.5-2% fee per transaction. Investors also enjoy fast crypto transfers to and from Wealthsimple. With some 18,000 digital assets available to trade, Coinbase is one of the leading exchanges in the crypto world with a wider selection of tokens than most alternatives. Traders access crypto markets through a powerful platform and can enjoy margin trading in some jurisdictions. Maker and taker fees are low and there are no hidden account charges.
Spread
1.5 – 2% operational fee BTC 0.1%, ETH 0.1%
Coins
  • ZRX
  • 1INCH
  • AAVE
  • APE
  • AMP
  • ANKR
  • AVAX
  • AXS
  • BAL
  • BNT
  • BAND
  • BAT
  • BTC
  • BCH
  • ADA
  • CTSI
  • CELO
  • LINK
  • CHZ
  • CHR
  • COMP
  • ATOM
  • COTI
  • CRV
  • DAI
  • MANA
  • DOGE
  • DYDX
  • ENJ
  • ETH
  • FTM
  • FIL
  • GALA
  • GRT
  • KNC
  • LTC
  • LRC
  • LUNC
  • MKR
  • PAXG
  • DOT
  • MATIC
  • QNT
  • REN
  • SAND
  • SHIB
  • SKL
  • SOL
  • XLM
  • STORJ
  • SUSHI
  • SNX
  • XTZ
  • UMA
  • UNI
  • USDC
  • YFI
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
  • IOTA
  • NEO
  • EOS
  • XMR
  • FIL
  • WBTC
  • SHIB
  • BNB
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No Yes
Auto Market Maker
No No
Review
Review
This post contains affiliate links, and this website will be compensated if you make a purchase after clicking the links.
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