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.
![]() | ![]() | |
Learn More | Visit Site | |
WealthSimple | Robinhood | |
---|---|---|
Wealthsimple Cash Account - | Get a Free Stock (worth between $5 and $200) - | |
Benefits and Features | ||
Stock Trading | ||
Options Trading | ||
Annual Fee | 0.5% for accounts up to $100k; 0.4% for accounts over $100k | |
Cryptocurrency Trading | ||
Minimum Deposit | ||
Mutual Fund Trading | ||
Commission Free ETFs | All U.S. listed ETFs | |
Phone Support | Yes - M-Th 9a-8p ET; Fri 9a-5:30p ET | |
Live Chat Support | ||
Email Support | ||
Human Advisors | ||
Robo Advisor | ![]() | |
Assets Under Management | ||
Tax Loss Harvesting | Available for accounts over $100,000 | |
Goal Tracker | ||
Automatic Deposits | ||
Broker Assisted Trades | ||
Good For | ||
Inactivity Fee | ||
Maintenance Fee | ||
Online Platform | ||
iPhone App | ||
Android App | ||
Banking | ||
Mobile App | ||
Two-Factor Authentication | ||
Locations | ||
Online Community | ||
Seminars | ||
Virtual Trading | ||
Fractional Shares | ||
Taxable Accounts | ||
401k Plans | ||
IRA Accounts | ||
Roth IRA Accounts | ||
SEP IRA Accounts | ||
Trust Accounts | ||
529 Plans | ||
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:
| Pros:
|
Bottom Line | Good robo-advisor with socially responsible and Halal investment options, though fees are high... | Free way to trade stocks with limited bells and whistles... |
Learn More | Visit Site | |
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. |
Commission-Free Options Investing
Robinhood offers commission-free and no monthly fee options trading.
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.