Robinhood took over Bitbuy and Coinsquare when it bought WonderFi on June 1, 2026, and those customers are being moved to its app. Wealthsimple Crypto is #4 on my list. Both are registered Canadian dealers, so this comes down to Robinhood's flat 0.50% fee against Wealthsimple's fee plus spread, and which app holds the coins you want.
Robinhood Vs Wealthsimple Crypto: Which Is Better For Canadians?
For most Canadians, Wealthsimple Crypto is the better choice (it wins on my ranking, coins available). Robinhood is best for former Bitbuy and Coinsquare customers who want a flat, simple fee.
Robinhood
CSA-registered, CIRO investment dealer (Coinsquare Capital Markets Ltd.)
Former Bitbuy and Coinsquare customers who want a flat, simple fee
Robinhood Crypto Canada and Wealthsimple Crypto are both CIRO-dealer products, and both advertise a 0.50% base fee. That similarity is a trap, because the two work out differently once you look at the spread. Wealthsimple Crypto is fourth in my ranking at 9.5 out of 10. Robinhood is not in my top 10, I have not tested it, and the Robinhood side below comes from its own fee, transfer and limits pages.
Bitbuy readers: your account is being moved to Robinhood, after which the Bitbuy app becomes read-only. I cover the process in my Robinhood Crypto Canada review.
How Do Robinhood And Wealthsimple Crypto Compare On Fees?
Robinhood charges 0.50% of the CAD value on each executed buy and sell, minimum CAD 0.01 per order. Wealthsimple's schedule, last updated September 24, 2026, charges a flat 0.5% Baseline Trading Fee on every order plus a price spread on market orders. Limit orders carry no spread. Its own example pairs a 0.50% fee with a 1.00% spread for 1.50% in total, and orders under CAD 100 take a CAD 1 surcharge.
Fees On A CAD 500 Buy
Item
Robinhood
Wealthsimple Crypto
Published Fee
0.50% per trade
0.5% plus spread on market orders
Fee On CAD 500
CAD 2.50
CAD 2.50 plus the spread
With Wealthsimple's Example 1.00% Spread
Not applicable
CAD 7.50 in total
Small-Order Surcharge
None listed; minimum CAD 0.01
CAD 1 on orders under CAD 100
Lower Tiers
None published
Active Trader: 0.5% down to 0%, spread 0%
The Wealthsimple spread varies, so CAD 7.50 is an illustration from its own schedule, not a promise. Robinhood's fee page lists a single trading fee and does not publish a spread, so I cannot say what the quote contains. For a casual buyer under Wealthsimple's CAD 10,000 monthly volume tier, Robinhood's headline cost looks lower. Heavy traders can climb Wealthsimple's Active Trader tiers.
Which Is Better For Funding And Withdrawing CAD?
Wealthsimple Crypto offers free Interac e-Transfer, up to CAD 10,000 per transfer or your bank's limit, and transfers from a Wealthsimple chequing account. Robinhood supports Interac e-Transfer and domestic wire. Some Reddit users report Interac delays and slow support at Robinhood, which is anecdotal.
For crypto withdrawals, Wealthsimple shows a network fee estimate before you send and has published limits of up to CAD 10,000 daily and CAD 25,000 weekly per a secondary summary of its help centre. Robinhood charges no fee of its own, needs identity verification and 2FA, can take up to 5 business days to enable transfers, and cannot send every coin. No Lightning, no bc1p addresses for Bitcoin.
Which Has More Coins?
Wealthsimple says Bitcoin, Ethereum, Solana and 170+ other coins. Robinhood lists 50+, such as BTC, ETH, XRP, SOL, DOGE, ADA, AVAX, XLM, LINK, SHIB, LTC, PEPE, AAVE, BONK and WIF. Wealthsimple has roughly three times the range, according to each platform's own marketing text, since neither counts coins the same way.
Which Is Safer?
Wealthsimple Investments Inc. is a CIRO Dealer Member with a CSA decision amended on December 22, 2025, and a FINTRAC MSB registration that runs to March 2028. Robinhood's accounts sit with Coinsquare Capital Markets Ltd., a CIRO Dealer Member, and CIRO approved its change of control on May 20, 2026. Both are in the regulated tier.
Custody claims differ in detail. Wealthsimple says its custodial partners each carry over $75M of cold storage coverage, with crypto held in trust. Robinhood says crypto is held in trust with approved custodians and that it does not lend customer crypto or use it to back leveraged positions. At both, crypto is not covered by CIPF while cash is.
Which App Is Easier To Use?
Wealthsimple's app shows 4.62 on Apple Canada from about 130,000 ratings, and many Canadians already hold investments there, which keeps everything in one place. It also offers staking: up to 5% per year, with a 30% fee on rewards for Core and Premium accounts. Robinhood has staking for ETH and SOL listed as coming soon. I have no verifiable rating for Robinhood's Canadian app.
What Are The Pros And Cons Of Each?
Robinhood Pros
Flat 0.50%, one fee per order
No account maintenance or deposit fees
Easy path for Bitbuy and Coinsquare users
Robinhood Cons
50+ coins
No staking yet
No fee tiers for heavy traders
Not in my top 10
Wealthsimple Pros
170+ coins plus BTC, ETH and SOL
Staking live
Active Trader tiers down to 0.05% and 0% spread
Free Interac e-Transfer
Wealthsimple Cons
Spread on market orders on top of 0.5%
CAD 1 surcharge under CAD 100
Staking fee of 30% for Core and Premium
Who Should Choose Robinhood, And Who Should Choose Wealthsimple Crypto?
Choose Robinhood if you are a migrating Bitbuy or Coinsquare customer who wants one flat number. Choose Wealthsimple Crypto if you already invest there, want the larger coin list, stake, or place limit orders to dodge the spread. It sits fourth in my ranking.
What Changed For Robinhood And Wealthsimple Crypto In October 2026?
: CIRO approved the change of control of Coinsquare Capital Markets Ltd.
: Robinhood completed its WonderFi acquisition.
: Wealthsimple updated its crypto fee schedule (0.5% flat plus spread, Active Trader tiers to 0%, CAD 1 small-order surcharge).
: CSA amended decision for Wealthsimple Investments Inc.
Frequently Asked Questions
Is Robinhood Cheaper Than Wealthsimple Crypto?
Robinhood charges 0.50% per trade, CAD 2.50 on a CAD 500 buy. Wealthsimple charges 0.5% plus a spread on market orders, so the same buy is CAD 2.50 plus the spread. Wealthsimple's own example pairs the fee with a 1.00% spread, or CAD 7.50 in total.
Does Wealthsimple Crypto Have A Small-Order Fee?
Yes. Wealthsimple's fee schedule adds a CAD 1 surcharge on any order under CAD 100. Robinhood lists a minimum fee of CAD 0.01 per order.
Which Has More Coins, Robinhood Or Wealthsimple?
Wealthsimple advertises Bitcoin, Ethereum, Solana and 170+ other coins. Robinhood lists 50+.
Does Robinhood Offer Staking Like Wealthsimple?
Not yet. Wealthsimple advertises staking of up to 5% per year with a 30% fee on rewards for Core and Premium. Robinhood lists ETH and SOL staking as coming soon.
Are Both Covered By CIPF?
Cash is covered within limits at both. Crypto is not covered by CIPF at either one.
Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.
He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.
His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.
