Investing
Wealthsimple vs Questrade: Which Is Better in Canada
Wealthsimple and Questrade compared on commissions, account fees, US dollar accounts, account types, robo-advisor fees and current offers.
Which is better, Wealthsimple or Questrade?
For self-directed investing, Questrade has the edge if you buy US stocks or need RRIF, LIRA or margin accounts. Wealthsimple is simpler and bundles chequing, crypto and a credit card. For a managed portfolio, Questwealth costs $125 a year on $50,000 versus $250 at Wealthsimple.
| Wealthsimple | Questrade | |
|---|---|---|
| Stock & ETF trades | $0 | $0 |
| Account fees | No account or inactivity fees | No annual or inactivity fees |
| USD accounts | USD accounts $10/month on Core; free from $100,000 in assets | Free USD accounts, including TFSA and RRSP |
| Currency conversion | 1.5% on CAD–USD conversions | Free USD accounts let you avoid conversions; converting costs about 1.5% |
| Options | Options available; per-contract fee depends on your client tier | $0 on US equity options; $0.99 per contract on Canadian options |
| Accounts | TFSA, RRSP, FHSA, RESP, Non-registered | TFSA, RRSP, FHSA, RESP, Non-registered, Margin, RRIF, LIRA |
| Robo-advisor fee | 0.50% (Core); 0.40% from $100,000 (Premium); as low as 0.20% at $500,000+ | 0.25%; 0.20% from $100,000 |
| Welcome offer | 1% transfer match, up to $20,000 | Up to $1,000 cash (ends Nov 2, 2026) |
| WalletReturn score | 80/100 | 91/100 |
Which is cheaper for US stocks?
Questrade, if you hold US dollars: its USD accounts are free, including in TFSAs and RRSPs. Wealthsimple charges 1.5% on conversions unless you pay $10 a month for USD accounts on Core (free from $100,000 in assets).
Which has the better sign-up offer?
Questrade: Up to $1,000 cash ($100 for $20,000+, $300 for $50,000+ and $1,000 for $100,000+ in net new funding to self-directed accounts.) until Nov 2, 2026. Wealthsimple: 1% transfer match, up to $20,000 on transfers of $25,000+, paid over 24 months.
Put this into practice
Official sources and further reading
Terms vary by card. Confirm the issuer’s current agreement and program conditions before acting. This guide does not predict approval, realized value or credit-score changes.
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