Wealthsimple has launched fee-free trading (for a limited time) on real, physically backed gold. Canadians can buy fractions, trade 24/7, and later redeem coins. Action: check the promo and eligibility before you buy.What’s New
Wealthsimple now lets clients buy and sell physically backed gold in the app with real-time pricing and instant execution. It says it’s the only brokerage in Canada offering 24/7 online trading of physical gold. Fractional trading starts from as little as $1 in CAD.
Key figures:
- Trading fee: 0% for a limited time; normally 1% on top of spot price.
- Coins: 1/10 oz or 1 oz Wealthsimple coins, batch-made by the Royal Canadian Mint; gold coins coming in November.
- Storage: $0 storage fees; gold held with partners in Canada.
- Insurance/Custody: fully insured; custody via Silver Gold Bull; storage includes Royal Canadian Mint and Brinks.
Who Is Eligible for Wealthsimple gold trading
- You can trade gold in all self-directed accounts (registered and non-registered).
- Coin redemption is only available from non-registered accounts for now.
- If eligibility or other restrictions aren’t listed above: Not specified in the release.
How to Apply for Wealthsimple gold trading
- Use the Wealthsimple app to buy or sell physically backed gold (web trading not available yet).
- Follow in-app steps for redemption once your holdings reach 1/10 oz or 1 oz to have coins delivered.
- For promo specifics, read the terms and conditions linked on the product page.
- If any portal names/extra steps are missing here: Application method not specified in the release.
Funding Details
| Item | Amount/Detail | Notes |
|---|---|---|
| Trading fee | 0% (limited time); normally 1% above spot | As per promo; subject to change |
| Commission | None | |
| Storage fee | None | Stored with Canadian partners; segregated programme-level storage |
| Redemption fee | 1 oz = 2.25%; 1/10 oz = 11% | Covers minting + fully insured delivery |
| Delivery fee | Included in redemption fee | |
| Insurance fee | Included in redemption fee | |
| Pricing currency | CAD | |
| Availability | App-only (web not available) | 24/7 physically backed gold trading |
| Storage locations | Royal Canadian Mint, Brinks | $0 storage fee |
| Custody partner | Silver Gold Bull | Infrastructure & custody services |
| CIPF coverage | Up to $1M per eligible account | Precious metals in account covered; redeemed coins not covered |
| Comparable broker data | Shown for illustration | Data collected Aug 2025; details may vary |
Key Takeaways
- Fee-free trading on physical gold for a limited time; normal fee is 1% over spot.
- Trade fractions in CAD with instant execution; 24/7 availability.
- Storage is $0; insurance included; stored with RCM and Brinks via partners.
- Redeem for 1/10 oz or 1 oz Wealthsimple coins; redemption from non-registered accounts only.
- CIPF covers eligible accounts up to $1M; redeemed coins aren’t covered.
FAQs
How does physical gold trading work in the app?
You buy fractional ownership of real bullion; it’s fully secured and insured by partners. You may redeem 1/10 oz or 1 oz coins for delivery.
How long will the 0% fees last?
It’s a limited-time promotion; timing may change.
Where is the gold stored and is there a storage fee?
Storage includes the Royal Canadian Mint and Brinks with $0 storage fees.
Who provides custody and logistics?
Silver Gold Bull provides infrastructure and custody for sourcing, storage, and delivery.
Source: Wealthsimple
