WealthSimple vs Robinhood

WealthSimple is a good robo-advisor with socially responsible and Halal investment options, though fees are high. How does it compare to Robinhood? Read our comparison chart below.

WealthSimple offers auto-investing with support from real advisors, including a free portfolio review of all your finances. However, fees are higher at 0.5% for accounts $100k and less (and 0.4% for accounts over $100k). It also stands out by offering socially responsible and Halal investment options. There is no minimum to open an account.

While Robinhood offers $0 stock trades by cutting out physical offices and manual account management. Only basic stock trading can be performed on the mobile app. There is no minimum deposit or maintenance fee, though there is an optional paid premier customer tier starting at $5/month.

Compare WealthSimple with Robinhood, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	WealthSimple	Robinhood

	Learn More	Visit Site
	SPECIAL OFFER Wealthsimple Cash Account - Learn More Read WealthSimple Review	OFFER Get a Free Stock (worth between $5 and $200) - Learn More Read Robinhood Review
	Benefits and Features
Stock Trading		$0
Options Trading		$0
Annual Fee	0.5% for accounts up to $100k; 0.4% for accounts over $100k	None
Cryptocurrency Trading		$0
Minimum Deposit	$0	$0
Mutual Fund Trading		No
Commission Free ETFs		All U.S. listed ETFs
Phone Support	Yes - M-Th 9a-8p ET; Fri 9a-5:30p ET	650-761-7789 (available 24/7)
Live Chat Support	No	Available 24/7 (requires sign in)
Email Support	Yes	Yes
Human Advisors	Yes	No
Robo Advisor		No
Assets Under Management	$2 Billion	$102 Billion
Penny Stocks		Yes
Tax Loss Harvesting	Available for accounts over $100,000	No
Goal Tracker	No	No
Automatic Deposits	Yes	Yes
Broker Assisted Trades		Not available
Good For		Beginners; Active traders
Inactivity Fee		$0
Maintenance Fee		$0
Online Platform	Yes	Yes
iPhone App	Yes	Yes (4.2 stars, 4.3M ratings)
Android App	Yes	Yes (4.1 stars, 483k ratings)
Banking		Offers Robinhood spending account with Robinhood Cash Card issued by Sutton Bank
Mobile App		Yes
Desktop App		None
Two-Factor Authentication		Device approvals, Authenticator app, SMS
Forex Trading		No
Futures Trading		No
Bond Trading		No
CFD Trading		No
Currency Trading		No
Customer Service		Live Chat (24 hours via Robinhood app) Phone: 650-761-7789 (available 24/7) Email: support@robinhood.com
Locations		No
Online Community		No
Seminars		Yes
Trading Platform		Web Trading, Mobile Apps
Virtual Trading		No
Fractional Shares	Yes	Yes
Taxable Accounts	Yes	Yes
401k Plans	No	No
IRA Accounts	Yes	Yes
Roth IRA Accounts	Yes	Yes
SEP IRA Accounts	Yes	No
Trust Accounts	Yes	No
529 Plans	No	No
	CreditDonkey® Reviews

Annual Fee
Minimum Deposit
Human Advisors
Customer Service
Social Responsibility
Stock Trading
Options Trading
Mobile App
Commissions and Fees
Ease of Use
Research
Pros & Cons	Pros: Human advisors No minimum investment Socially responsible and Halal investment options Cons: Higher fees than competitors No personal finance tools Tax loss harvesting only to high balance accounts	Pros: Commission-free trades No minimum Extended trading hours Cons: Limited research No mutual funds & bonds
Bottom Line	Good robo-advisor with socially responsible and Halal investment options, though fees are high... Read full review	Free way to trade stocks with limited bells and whistles... Read full review
	Learn More	Visit Site
	Wealthsimple Cash Account	Get a Free Stock (worth between $5 and $200) 1% Bonus to Transfer to Robinhood with No Cap Buy and Sell Cryptocurrency
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Robinhood: Pricing information from published websites as of 04/18/2020.

Get a Free Stock (worth between $5 and $200)

Get a Free Stock

1% Bonus to Transfer to Robinhood with No Cap

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Expires 6/28/2024

Earn a 1% bonus with no cap when you transfer your brokerage account to Robinhood, now through June 28, 2024. Terms apply.

Buy and Sell Cryptocurrency

Robinhood Crypto offers commission-free cryptocurrency investments 24/7. Some of the cryptocurrencies available are Bitcoin, Dogecoin, Ethereum, and Litecoin. This offer is currently available to selected states.

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Which is Better: WealthSimple or Robinhood?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing WealthSimple or Goldco.

Articles on WealthSimple

Wealthsimple

Wealthsimple is a robo advisor with features you should not ignore. But are the higher fees worth it? Read this review to find out what this automatic investing service can do and the pros and cons.