Great question! Wealthsimple Trade and Wealthsimple Crypto are two different products in the Wealthsimple ecosystem (along with Wealthsimple Invest, Wealthsimple Cash, and SimpleTax).
You can find Wealthsimple Trade and Wealthsimple Crypto in the same app and soon on the web!
What are the differences?
Wealthsimple Trade is operated by Canadian ShareOwner Investments, a member of the Investment Industry Regulatory Organization of Canada. ShareOwner is a member of the Investment Industry Regulatory Organization of Canada. Wealthsimple Crypto is made available through the Wealthsimple Trade app. Wealthsimple Digital Assets Inc. (WDA) offers Wealthsimple Crypto to Canadians under time-limited registration and regulatory approach coordinated through the Canadian Securities Administrators' Regulatory Sandbox. In jurisdictions of Canada other than Québec, WDA is registered as a restricted dealer. In Québec, WDA is registered as a derivatives dealer. Crypto-assets purchased and held in an account with Wealthsimple Crypto are not protected by the Canadian Investor Protection Fund, the Canadian Deposit Insurance Corporation or any other investor protection insurance scheme.
With Wealthsimple Trade you can buy and sell thousands of stocks and ETFs commission-free, with a TFSA, Personal (non-registered), or RRSP account.
Wealthsimple Crypto is a simple, transparent, and secure way to buy and sell cryptocurrencies through a Personal (non-registered) account.
You won’t be able to purchases stocks or ETFs in your Crypto account. Similarly, you won’t be able to buy and sell cryptocurrencies with your Wealthsimple Trade account(s).