Wealthsimple vs. Scotia iTRADE
Compare Wealthsimple and Scotia iTRADE 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 Scotia iTRADE
Scotia iTRADE is the online brokerage arm of Scotiabank, one of Canada's Big Five banks. It offers a wide range of account types, advanced research tools, and access to branch support. Regulated by CIRO, with CIPF insurance.
| Feature | Wealthsimple | Scotia iTRADE |
|---|---|---|
| Commission | $0 on stocks/ETFs | $9.99 per trade |
| Options Fees | $0.75–$2 USD/contract | $9.99 + $1.25/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, Advanced desktop |
| Fractional Shares | Yes (500+ stocks/ETFs) | No |
| Research Tools | Basic charts, watchlists | Advanced research, screeners, analytics |
| Minimum Deposit | $0 | $0 |
| Safety | CIRO regulated, CIPF up to $1M | CIRO regulated, CIPF up to $1M |
| Support | Chat, email, phone (priority for Premium) | Phone, chat, email, branch support |
| Unique Features | Robo-advisor, Cash account, Tax, Fractional shares | Bank integration, advanced research tools |
Pros & Cons
WS
Wealthsimple Pros
- $0 commissions, no minimums
- Fractional shares
- Beginner-friendly app
- Unified ecosystem (robo, cash, tax)
- Great for new investors
SC Scotia iTRADE Pros
- Bank integration with Scotiabank
- Wide range of account types
- Advanced research tools
- Branch support available
WS
Wealthsimple Cons
- Limited advanced trading tools
- 15-min delayed quotes (free tier)
- No direct USD RRSP/TFSA (as of 2026)
SC Scotia iTRADE Cons
- $9.99 commission per trade
- No fractional shares
- Platform less modern than Wealthsimple
- Options fees higher than 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 Scotia iTRADE if…
- You want bank integration, advanced research tools, and branch support, and are comfortable with $9.99 commissions.
- Best for those who value traditional banking and research.
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