trending_up 2026 Comparison

Questrade vs Wealthsimple (2026): Which Broker Is Best for You?

Q: Is my money safe with Wealthsimple vs Questrade?

Both are safe and regulated. Wealthsimple is regulated by CIRO and is a CIPF member. Questrade has been operating since 1999, is also CIRO-regulated, and is a CIPF member. Both offer CIPF protection up to $1 million per account type.

Q: Which has the better referral bonus?

Wealthsimple offers a larger bonus - up to $5,000 when you deposit $1M or more (scales down to $25 for $1 deposit). Questrade offers $50 in free trades when you sign up with a referral link and fund your account.

Compare Canada's top investing platforms. We break down fees, account types, and features to help you choose between zero-commission simplicity and professional-grade tools.

Wealthsimple

Commission-Free Investing

Best for Beginners

Sign-up Bonus

Up to $5,000

check_circle $0 commission on all trades
check_circle Simple, beginner-friendly app
check_circle Also offers crypto & banking

Get Started with Wealthsimple Get Wealthsimple arrow_outward

Questrade

Discount Brokerage

Best for Active Traders

Sign-up Bonus

$50 Trade Credit

check_circle Free ETF purchases
check_circle Advanced charting & research
check_circle More account types available

Get Started with Questrade Get Questrade arrow_outward

table_chart Wealthsimple vs Questrade: Quick Comparison

Feature	Wealthsimple	Questrade
Stock Trading Fees	$0	$4.95 - $9.95
ETF Fees	$0	$0 to buy / $4.95+ to sell
Account Minimum	$0	$0
Account Types	TFSA, RRSP, FHSA, Personal	TFSA, RRSP, FHSA, Margin, LIRA, Corporate
US Stocks	Yes (Plus plan)	Yes (all accounts)
Advanced Charting	Basic	Advanced
Options Trading	No	Yes
Mobile App Rating	4.8/5	4.2/5
Sign-up Bonus	Up to $5,000	$50 Trade Credit
Best For	Beginners & passive investors	Active traders & pros

analytics Questrade vs Wealthsimple Fees: Complete Cost Breakdown (2026)

This comprehensive questrade fees vs wealthsimple analysis covers every fee type, hidden costs, and calculates real-world scenarios. Understanding the questrade vs wealthsimple fees difference is crucial for maximizing your investment returns.

Trading Fees Comparison

Understanding the fee structure is crucial when comparing Wealthsimple vs Questrade. While Wealthsimple offers true zero-commission trading, Questrade uses a hybrid commission model. This questrade fees vs wealthsimple breakdown shows exactly what you'll pay.

Wealthsimple Trade Fees

Canadian stocks & ETFs: $0
US stocks (Plus plan): $0
US stocks (Basic): 1.5% FX fee
Options trading: Not available
Account fees: $0

Questrade Trading Fees

Stock trades: $4.95 - $9.95
ETF purchases: $0
ETF sales: $4.95 - $9.95
Options: $9.95 + $1/contract
Account fees: $0

Real-World Cost Scenarios

Passive Investor (10 trades/year)

Wealthsimple: $0

Questrade: $49.50 - $99.50

Active Trader (50 trades/year)

Wealthsimple: $0

Questrade: $247.50 - $497.50

ETF-Only Portfolio

Wealthsimple: $0

Questrade: $0*

*If buying only, not selling

Fees Winner: Wealthsimple wins for most investors with true $0 commission on all trades. However, Questrade's free ETF purchases make it competitive for buy-and-hold ETF investors. For frequent stock traders, Wealthsimple saves hundreds of dollars annually in questrade vs wealthsimple fees comparison.

Hidden Fees & Additional Costs

Beyond trading commissions, consider these additional questrade fees vs wealthsimple costs when calculating total ownership expenses.

Wealthsimple Additional Costs

FX conversion:1.5% per trade
Plus plan (US trading):$10/month
Instant withdrawal:Free
Wire transfer:$20
Account transfer out:Free

Questrade Additional Costs

FX conversion:~2% spread
Advanced data packages:$19.95+/month
Electronic withdrawal:Free
Wire transfer:$20-$40
Account transfer out:$25-$150

Account Types Available

Both platforms offer standard registered accounts, but Questrade provides more options for advanced investors and business owners.

Wealthsimple Accounts

• TFSA (Tax-Free Savings Account)

• RRSP (Registered Retirement Savings Plan)

• FHSA (First Home Savings Account)

• Personal (Non-registered)

• Crypto (Wealthsimple Crypto)

Questrade Accounts

• TFSA, RRSP, FHSA, Personal

• Margin (Leveraged trading)

• LIRA (Locked-In Retirement Account)

• Corporate/Business accounts

• Forex & CFD accounts

Winner: Questrade wins for investors who need margin accounts, corporate accounts, or more sophisticated account structures.

Platform & Tools Comparison

The user experience differs significantly between these platforms. Wealthsimple prioritizes simplicity while Questrade offers professional-grade tools.

Wealthsimple Experience

check_circle

Ultra-simple mobile app

Designed for beginners with clean interface
check_circle

Instant deposits

Up to $1,000 instantly available
check_circle

Automatic rebalancing

For Wealthsimple Invest accounts
check_circle

Fractional shares

Buy partial shares of expensive stocks

Questrade Experience

check_circle

Advanced charting tools

Technical analysis with 30+ indicators
check_circle

Research & screening

Stock screeners and analyst reports
check_circle

Multiple order types

Limit, stop-loss, trailing stops, etc.
check_circle

Options & margin trading

For sophisticated strategies

Customer Support

Wealthsimple Support

In-app chat:Available
Phone support:Limited
Help center:Comprehensive
Response time:24-48 hours

Questrade Support

Phone support:Available
Live chat:Available
Email:Available
Community forum:Active

Wealthsimple

Pros

add_circleTrue $0 commission trading
add_circleSimplest app for beginners
add_circleFractional shares available
add_circleBigger sign-up bonus (up to $5,000)

Cons

remove_circleLimited account types
remove_circleNo advanced charting tools
remove_circleNo options trading
remove_circleUS stocks require Plus plan

Questrade

Pros

add_circleAdvanced trading platform
add_circleMore account types available
add_circleFree ETF purchases
add_circleOptions and margin trading

Cons

remove_circleTrading fees on stocks
remove_circleSteeper learning curve
remove_circleSmaller sign-up bonus
remove_circlePlatform can feel overwhelming

person_search Who Should Choose Which?

Choose Wealthsimple If You...

check Are new to investing and want simplicity
check Want to avoid all trading fees
check Prefer a clean mobile-first experience
check Want to buy fractional shares
check Are a buy-and-hold passive investor

Get Wealthsimple Bonus arrow_outward

Choose Questrade If You...

check Are an active or day trader
check Need advanced charting and research
check Want to trade options
check Need a margin or corporate account
check Build an ETF-focused portfolio

Get Questrade Bonus arrow_outward

forum Questrade vs Wealthsimple Reddit: Community Insights

Based on extensive questrade vs wealthsimple reddit discussions and wealthsimple vs questrade reddit threads, here's what the Canadian investing community says about choosing between these platforms.

thumb_up Reddit Loves Wealthsimple For:

✓ Zero fees on all trades (most mentioned benefit)
✓ Simplest app interface for beginners
✓ No account minimums - start with $1
✓ Instant deposits up to $1,000
✓ Clean, distraction-free mobile experience

thumb_up Reddit Prefers Questrade For:

✓ Advanced charting and technical analysis
✓ Options trading capabilities
✓ Free ETF purchases (popular strategy)
✓ Margin and advanced account types
✓ Better for day trading and active investing

Common Reddit Consensus:

Across wealthsimple vs questrade reddit threads and questrade vs wealthsimple reddit discussions, the consensus is clear: Wealthsimple wins for beginners and passive investors due to zero fees and simplicity, while Questrade wins for active traders who need advanced tools. Most Reddit users recommend starting with Wealthsimple and switching to Questrade only if you outgrow the basic features. The wealthsimple vs questrade reddit community emphasizes that fee savings with Wealthsimple can add up to hundreds of dollars annually for active traders.

help Frequently Asked Questions

Is Wealthsimple better than Questrade for beginners? expand_more

Yes, Wealthsimple is generally better for beginners. Its mobile app is simpler to use, it offers true $0 commission trading, and it requires no minimum balance. Questrade has a steeper learning curve with more complex tools and charges fees for most stock trades. Wealthsimple's clean interface makes it easy to start investing with confidence. According to questrade vs wealthsimple reddit discussions, beginners consistently recommend Wealthsimple as the starting platform.

Which has lower fees: Wealthsimple or Questrade? expand_more

Wealthsimple has lower fees for most investors. Wealthsimple Trade offers $0 commission on all Canadian and US stock trades (US trading requires the Plus plan at $10/month). Questrade charges $4.95 to $9.95 per stock trade, though ETFs are free to buy. For buy-and-hold investors who trade stocks, Wealthsimple is significantly cheaper. However, Questrade's free ETF purchases make it competitive for pure ETF portfolios. According to wealthsimple vs questrade reddit discussions, fee-conscious investors overwhelmingly prefer Wealthsimple for passive investing. The questrade vs wealthsimple fees difference can save active traders hundreds of dollars annually.

Wealthsimple vs Questrade Fees: Which is Cheaper? expand_more

Can I buy US stocks on both platforms? expand_more

Yes, both platforms support US stocks. Wealthsimple Trade added US trading with no FX fees on the Plus plan ($10/month). Without Plus, Wealthsimple charges 1.5% FX conversion on each US trade. Questrade has always offered US stocks but charges FX conversion fees (around 2%) and trading commissions ($4.95-$9.95). If you primarily trade US stocks, compare the total costs based on your trading frequency.

Which platform is better for day trading? expand_more

Questrade is better for active day traders. It offers advanced charting with 30+ technical indicators, level 2 quotes showing market depth, direct market access for faster execution, and multiple order types including stop-loss and trailing stops. Wealthsimple is designed for passive, long-term investors and lacks these advanced trading features. The fees at Questrade are also more reasonable for high-volume traders compared to Wealthsimple's Plus plan requirements.

Is my money safe with Wealthsimple vs Questrade? expand_more

Both are safe and regulated Canadian brokerages. Wealthsimple is regulated by CIRO (Canadian Investment Regulatory Organization) and is a CIPF (Canadian Investor Protection Fund) member. Questrade has been operating since 1999, is also CIRO-regulated, and is a CIPF member. Both offer CIPF protection up to $1 million per account type (TFSA, RRSP, etc.). Your investments are held in segregated accounts separate from the company's assets, meaning they're protected even if the company faces financial difficulties.

Which has the better referral bonus: Wealthsimple vs Questrade? expand_more

Wealthsimple offers a significantly larger bonus - up to $5,000 when you deposit $1M or more. The bonus scales down based on your deposit: $5,000 for $1M+, $1,000 for $100K, $100 for $10K, $50 for $1K, and $25 for any deposit over $1. Questrade offers $50 in free trades when you sign up with a referral link and fund your account with at least $1,000. While Questrade's bonus is simpler, Wealthsimple's potential bonus is much higher for those making larger deposits.

account_balance Qtrade vs Questrade vs Wealthsimple: How Does Qtrade Compare?

Many Canadians researching brokers wonder about Qtrade as a third option. Here's how Qtrade fits into the qtrade vs questrade vs wealthsimple comparison.

Wealthsimple

Best for: Beginners & Passive

✓ $0 commission trading
✓ Simplest mobile app
✓ No account minimum
✗ No advanced tools

Questrade

Best for: Active Traders

✓ Advanced charting
✓ Options trading
✓ Free ETF purchases
✗ Trading fees apply

Qtrade

Best for: Customer Service

✓ Award-winning support
✓ $0 ETF trades
✓ $8.75 stock trades
✗ Higher stock fees

Qtrade Verdict: In the qtrade vs questrade vs wealthsimple comparison, Qtrade is often overlooked but offers superior customer service (consistently rated #1 by J.D. Power). However, it's generally more expensive than both competitors for stock trades ($8.75 vs Questrade's $4.95-$9.95 vs Wealthsimple's $0). Choose Qtrade if customer support is your top priority; otherwise, Wealthsimple or Questrade offer better value.

verified_user

Final Verdict

For most Canadian investors, Wealthsimple is the better choice. Its true $0 commission trading, simple mobile app, and beginner-friendly design make it perfect for new investors and passive buy-and-hold strategies. The ability to invest in fractional shares and the larger sign-up bonus (up to $5,000) add to its appeal.

However, if you're an active trader who needs advanced charting, options trading, or sophisticated order types, Questrade is worth the trading fees. Its professional-grade tools, more account types, and extensive research capabilities make it the choice for serious investors who trade frequently. For those also considering Qtrade in their qtrade vs questrade vs wealthsimple research, Qtrade offers the best customer service but higher trading costs.

Get Up to $5,000 with Wealthsimple Get $5,000 with Wealthsimple arrow_outward Get $50 Credit with Questrade arrow_outward