Wealthsimple Referral

About

About Wealthsimple

Wealthsimple is Canada's leading fintech for commission-free investing, robo-advisor portfolios, and digital banking. It's known for its beginner-friendly app, $0 commissions, fractional shares, and seamless integration of investing, saving, and tax tools. Regulated by CIRO, with CIPF insurance up to $1M.

About Interactive Brokers

Interactive Brokers is a global brokerage known for its low fees, advanced trading tools, and access to global markets. It offers a wide range of account types, professional-grade platforms, and is popular with active and professional traders. Regulated by CIRO in Canada, with CIPF insurance.

Feature Comparison

Feature Wealthsimple Interactive Brokers
Commissions$0 on stocks/ETFs$0.01/share (min $1 CAD)
Options Fees$0.75–$2 USD/contract$1.25 CAD/contract (min $1.50)
FX Fees1.5% (waived with USD account)~0.2% (very low FX fees)
Account TypesPersonal, TFSA, RRSP, RESP, USD, morePersonal, TFSA, RRSP, RESP, USD, margin, more
PlatformsMobile, WebWeb, Mobile, Desktop (Trader Workstation)
Fractional SharesYes (500+ stocks/ETFs)Yes (US stocks/ETFs)
Research ToolsBasic charts, watchlistsAdvanced screeners, research, global data
Minimum Deposit$0$0 (for IBKR Lite), $10,000+ (for Pro)
SafetyCIRO regulated, CIPF up to $1MCIRO regulated, CIPF up to $1M
SupportChat, email, phone (priority for Premium)Phone, chat, email (24/7 global support)
Unique FeaturesRobo-advisor, Cash account, Tax, Fractional sharesGlobal markets, advanced trading, low FX
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Pros & Cons

Wealthsimple Pros

  • $0 commissions, no minimums
  • Fractional shares
  • Beginner-friendly app
  • Unified ecosystem (robo, cash, tax)
  • Great for new investors

Wealthsimple Cons

  • Limited advanced trading tools
  • 15-min delayed quotes (free tier)
  • No direct USD RRSP/TFSA (as of 2025)

Interactive Brokers Pros

  • Ultra-low commissions & FX fees
  • Access to global markets
  • Advanced trading platforms
  • Fractional US shares
  • Great for active/pro investors

Interactive Brokers Cons

  • Complex platform for beginners
  • Minimums for Pro accounts
  • Not as beginner-friendly as Wealthsimple

Who Should Choose Which?

Choose Wealthsimple if…

  • You want a simple, mobile-first experience, $0 commissions, fractional shares, and easy access to robo-advisor and cash accounts.
  • Great for beginners and hands-off investors.

Choose Interactive Brokers if…

  • You want ultra-low fees, global markets, advanced trading tools, and are comfortable with a more complex platform. Best for active and professional traders.
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