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 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 | 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 & FX fees
- Access to global markets
- Advanced trading platforms
- Fractional US shares
- Great for active/pro investors
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 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.
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