Wealthsimple vs. Questrade
Compare Wealthsimple and Questrade 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 Questrade
Questrade is one of Canada's largest independent online brokerages, known for low commissions, advanced trading tools, and a wide range of account types. Regulated by CIRO, with CIPF insurance.
| Feature | Wealthsimple | Questrade |
|---|---|---|
| Commission | $0 on stocks/ETFs | $4.95–$9.95 per trade |
| Options Fees | $0.75–$2 USD/contract | $9.95 + $1/contract |
| FX Fees | 1.5% (waived with USD account) | ~1.5% (USD accounts available) |
| Account Types | Personal, TFSA, RRSP, RESP, USD, more | Personal, TFSA, RRSP, RESP, USD, more |
| Platforms | Mobile, Web | Web, Mobile, Desktop |
| Fractional Shares | Yes (500+ stocks/ETFs) | No |
| Research Tools | Basic charts, watchlists | Advanced research, screeners |
| Minimum Deposit | $0 | $1,000 |
| Safety | CIRO regulated, CIPF up to $1M | CIRO regulated, CIPF up to $1M |
| Support | Chat, email, phone (priority for Premium) | Phone, chat, email |
| Unique Features | Robo-advisor, Cash account, Tax, Fractional shares | Advanced trading, USD accounts |
Pros & Cons
WS
Wealthsimple Pros
- $0 commissions, no minimums
- Fractional shares
- Beginner-friendly app
- Unified ecosystem (robo, cash, tax)
- Great for new investors
QU Questrade Pros
- Low commissions
- Advanced trading tools
- Wide range of account types
- USD accounts
- Strong research tools
WS
Wealthsimple Cons
- Limited advanced trading tools
- 15-min delayed quotes (free tier)
- No direct USD RRSP/TFSA (as of 2026)
QU Questrade Cons
- $1,000 minimum deposit
- Commissions on trades
- No fractional shares
- Platform less beginner-friendly
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 Questrade if…
- You want advanced trading tools, USD accounts, and are comfortable with a $1,000 minimum deposit and commissions.
- Best for active and experienced investors.
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