Wealthsimple Referral
Wealthsimple vs Scotia iTRADE: Which is Better for Canadians in 2025?
See our side-by-side comparison of Wealthsimple and Scotia iTRADE for fees, features, safety, and more.
Referral Code: HODMTG — Get at least $25 (up to $100 depending on active promotions) when you join using the code or this referral link.
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 Comparison
Pros & Cons
Wealthsimple Pros
- $0 commissions, no minimums
- Fractional shares
- Beginner-friendly app
- Unified ecosystem (robo, cash, tax)
- Great for new investors
Wealthsimple Cons
- Limited advanced trading tools
- 15-min delayed quotes (free tier)
- No direct USD RRSP/TFSA (as of 2025)
Scotia iTRADE Pros
- Bank integration
- Wide range of account types
- Advanced research tools
- Branch support
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.