Wealthsimple Trade charges a currency exchange fee for USD trades of our Corporate FX rate x 1.5% — most brokerages charge around 2% on top of the rate for currency conversion. This currency exchange fee is the only fee we charge on trades. There are no commission fees, funds transfer charges, or other hidden fees.
In the future, we plan to offer USD accounts, which can allow clients who do a large volume of trading in USD to save on conversion fees. We aren't able to offer timelines on this yet, but once we are we will add them here!