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
I use Wealthsimple for most of my investing — the $0 commissions, fractional shares, and the all-in-one app (investing + Cash + Tax) are what made me switch. It's beginner-friendly but has grown with me as I've gotten more confident. That said, it's not the most advanced platform out there.
About Questrade
Questrade is what I looked at before landing on Wealthsimple. It's been around since 1999 and is one of the larger independent brokerages in Canada. From what I found during my research, it has more advanced trading tools and USD accounts — the trade-off used to be a $1,000 minimum and per-trade commissions, but Questrade moved to $0 commission on stocks and ETFs in February 2025 and added real-time fractional share trading that April, which closed a lot of that gap. Note: fees and features may have changed since my research — always check questrade.com directly.
| Feature | Wealthsimple | Questrade |
|---|---|---|
| Commission | $0 on stocks/ETFs | $0 on CA/US stocks & ETFs |
| Options Fees | $0 (equity/ETF); $0.25–$1 USD (index options) | $0.99/contract ($0.75 for active traders) |
| FX Fees | 1.5% (waived with USD account) | ~1.5% (free 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) | Yes |
| Research Tools | Basic charts, watchlists | Advanced research, screeners |
| Minimum Deposit | $0 | $0 (no minimum to open) |
| 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, free 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
- $0 commission on Canadian and US stocks/ETFs since February 2025, plus real-time fractional share trading
- More advanced trading platforms and research tools than Wealthsimple
- Free USD accounts — good for frequent US trading
- Wide range of account types
- Long-established Canadian brokerage
WS
Wealthsimple Cons
- Limited advanced trading tools
- 15-min delayed quotes (free tier)
- No direct USD RRSP/TFSA (as of 2026)
QU Questrade Cons
- No minimum deposit to open, but a $25/quarter inactivity fee applies if your balance stays under $1,000 with no trades that quarter
- Options still cost $0.99/contract ($0.75 for active traders) — Wealthsimple's standard equity options are cheaper
- Other fees still apply: international trades, currency conversion, margin interest, securities lending
- Less beginner-friendly than Wealthsimple
Who Should Choose Which?
Choose Wealthsimple if…
- You want everything in one place — investing, a Cash account, and tax filing — with no minimums and $0 commissions. That's why I went with Wealthsimple.
- Also great if you want to start small with fractional shares or a robo-advisor.
Choose Questrade if…
- From my research, Questrade still makes more sense if you're an active trader who wants more advanced platforms, research tools, and free USD accounts — the commission gap with Wealthsimple has mostly closed now that Questrade dropped to $0 in 2025.
- If you're already comfortable with trading platforms and want more control, it's worth checking out at questrade.com.
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: LTHNZA