Wealthsimple vs. Interactive Brokers
Compare Wealthsimple and Interactive Brokers for Canadian investors in 2026. See fees, features, safety, pros & cons, and which is best for you.
About
About Wealthsimple
Wealthsimple is what I use daily — it's beginner-friendly, has $0 commissions and fractional shares, and the app ties together my investing, Cash account, and taxes. It's not built for power traders, but that's fine for me.
About Interactive Brokers
Interactive Brokers is in a completely different league. From my research, it's aimed at serious, active traders who want access to global markets and ultra-low FX fees. The platform (Trader Workstation) is genuinely complex — not something a casual investor would enjoy. That said, the fee structure is impressive. Always verify current details on interactivebrokers.ca.
| Feature | Wealthsimple | Interactive Brokers |
|---|---|---|
| Commission | $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 Fees | 1.5% (waived with USD account) | ~0.2% (very low) |
| Account Types | Personal, TFSA, RRSP, RESP, USD, more | Personal, TFSA, RRSP, RESP, USD, Margin, more |
| Platforms | Mobile, Web | Web, Mobile, Desktop (Trader Workstation) |
| Fractional Shares | Yes (500+ stocks/ETFs) | Yes |
| Research Tools | Basic charts, watchlists | Advanced screeners, research, global data |
| Minimum Deposit | $0 | $0 (IBKR Lite), $10,000+ (Pro) |
| Safety | CIRO regulated, CIPF up to $1M | CIRO regulated, CIPF up to $1M |
| Support | Chat, email, phone (priority for Premium) | Phone, chat, email (24/7 global support) |
| Unique Features | Robo-advisor, Cash account, Tax, Fractional shares | Global markets, advanced trading, low FX |
Pros & Cons
WS
Wealthsimple Pros
- $0 commissions, no minimums
- Fractional shares
- Beginner-friendly app
- Unified ecosystem (robo, cash, tax)
- Great for new investors
IN Interactive Brokers Pros
- Ultra-low commissions and FX fees (among the best I found)
- Access to global markets (US, Europe, Asia)
- Professional-grade platforms (Trader Workstation)
- Fractional US shares available
- Great for active/professional traders
WS
Wealthsimple Cons
- Limited advanced trading tools
- 15-min delayed quotes (free tier)
- No direct USD RRSP/TFSA (as of 2026)
IN Interactive Brokers Cons
- Complex platform — steep learning curve for beginners
- Minimums for Pro accounts (verify at interactivebrokers.ca)
- Not designed as an all-in-one lifestyle finance app
Who Should Choose Which?
Choose Wealthsimple if…
- I'd recommend Wealthsimple if you want a clean, simple experience with $0 commissions, especially if you're newer to investing or want your Cash account in the same place.
Choose Interactive Brokers if…
- From my research, IBKR is unbeatable if you're a serious trader who needs global market access and the lowest possible fees — but be prepared for a complex platform.
- Verify current account minimums and fees at interactivebrokers.ca before committing.
Ready to Start Investing?
Open a Wealthsimple account today and get a $25 bonus when you fund your account using our referral code.
* Referral code: HODMTG