Questrade
IIROC
Wealthsimple
IIROC
Questrade vs Wealthsimple
Head-to-Head Comparison 2026
Our Verdict
Questrade has a higher rating of 4.2/5 compared to Wealthsimple (4.1/5). Questrade offers 7 instrument types, while Wealthsimple offers 3. The minimum deposit is lower at Wealthsimple with 0 CAD. Questrade offers options trading, while the other does not.
Comparison Table
| Criteria | Questrade | Wealthsimple |
|---|---|---|
| Rating | 4.2/5 (1300 reviews)✓ | 4.1/5 (1700 reviews) |
| Regulation | IIROC | IIROC |
| Fees | Stocks from CAD $4.95 per trade, ETFs free to buy, options from CAD $4.95 + $0.75/contract | CAD $0 commission on Canadian and US stocks, 1.5% FX fee (0% with Premium) |
| Min. Deposit | 1.000 CAD | 0 CAD |
| Instruments | Stocks, ETFs, Options, Bonds, Mutual Funds, Forex, CFDs | Stocks, ETFs, Crypto |
| Platforms | Questrade Web, Questrade App, IQ Edge | Wealthsimple App, Wealthsimple Web |
| Options Trading | Yes, Canadian and US options | No |
| Founded | 1999 | 2014 |
| Headquarters | Toronto | Toronto |
Detailed Comparison
Fee Comparison
Questrade: Stocks from CAD $4.95 per trade, ETFs free to buy, options from CAD $4.95 + $0.75/contract. Minimum deposit: 1.000 CAD.
Wealthsimple: CAD $0 commission on Canadian and US stocks, 1.5% FX fee (0% with Premium). Minimum deposit: 0 CAD.
Product Range
Questrade (7 categories)
Wealthsimple (3 categories)
Trading Platforms
Questrade
- Questrade Web
- Questrade App
- IQ Edge
Wealthsimple
- Wealthsimple App
- Wealthsimple Web
Regulation & Security
Questrade is regulated by IIROC (HQ: Toronto).
Wealthsimple is regulated by IIROC (HQ: Toronto).
Who Is It For?
Questrade
Canada's leading independent online broker with low fees
✓ Free ETF purchases
✓ Canada's leading independent broker
✓ Options trading on US and Canadian markets
✗ Only available for Canadian customers
✗ Stock trading fees not the lowest
Wealthsimple
Canadian neobroker with commission-free stock trading
✓ Commission-free stock and ETF trading
✓ Very user-friendly app
✓ Fractional shares available
✗ Only available for Canadian customers
✗ 1.5% FX fee on US stocks (without Premium)
Frequently Asked Questions
Is Questrade or Wealthsimple cheaper?
Which broker offers more products: Questrade or Wealthsimple?
Which broker is better regulated?
Is Questrade or Wealthsimple better for beginners?
Questrade vs Wealthsimple: Which broker is better overall?
Questrade
Canada's leading independent online broker with low fees
Open Account →From 1.000 CAD min. deposit
Wealthsimple
Canadian neobroker with commission-free stock trading
Open Account →From 0 CAD min. deposit