FR EN
Comparison · Updated May 2026

Wealthsimple vs Questrade
which should you choose in 2026?

Both are excellent Canadian brokers — but for very different profiles. Here's the honest comparison, criterion by criterion, to help you choose (or use both).

Open Wealthsimple + get $45 bonus → Code LOIO3A · $25 from Wealthsimple + $20 Interac e-Transfer from us
Wealthsimple referral code
LOIO3A
Exclusive I send you $20 via Interac e-Transfer on top of Wealthsimple's bonus — $45 total. See the offer + form →
Direct comparison

Full comparison
table

Every important criterion, side by side. Manually verified — May 2026.

Criterion Wealthsimple Questrade
Canadian stock trades $0 $4.95 – $9.95 per trade
ETF purchases $0 $0 (purchases only)
ETF sales $0 $4.95 – $9.95 per sale
USD FX fee (base plan) 1.5% 1.99%
USD FX fee (upper tier) 0% (from $100,000) 1% (Edge, from $50,000)
Margin trading Not available Available
Stock options Not available Available ($1/contract)
Crypto Yes (regulated) Yes (QuestCrypto)
TFSA / RRSP / FHSA Yes Yes
RESP Yes Yes
Registered margin account No Yes
Robo-advisor Yes (0.4–0.5% / yr) Yes (Questwealth, 0.25%)
Mobile app Excellent (4.8/5) Good (3.8/5)
Beginner-friendly Very much so Steeper learning curve
Integrated tax filing Yes (Wealthsimple Tax, free) No
Integrated chequing account Yes No
Sign-up bonus $25 guaranteed (code LOIO3A) + $20 e-Transfer Variable, depends on promotions
Account transfer-out fee $50 / account $150 / account
Customer support Chat / Email (can be slow) Chat / Phone / Email
Real-time market data 15-min delay (base) · Real-time (Premium) Real-time included

Manually verified · May 2026 · Fees subject to change without notice.

Use cases

Which broker for
which profile?

There's no universal answer — it depends on what you want to do.

✅ Wealthsimple wins if...
  • You're new to investing and want a simple, intuitive interface
  • You buy all-in-one ETFs (XEQT, VEQT, VGRO...) and don't want to pay to sell them
  • You want everything in one app: investing + chequing + crypto + taxes
  • You invest primarily in Canadian stocks and ETFs (no FX fees)
  • You want a simple, guaranteed sign-up bonus ($25 + $20 e-Transfer with LOIO3A)
✅ Questrade wins if...
  • You want to trade on margin or use stock options
  • You invest primarily in ETFs and buy in large volumes (free purchases add up)
  • You want real-time market data without upgrading to a premium plan
  • You prefer having a phone support option
Advanced strategy

What if you used
both?

This isn't a hypothetical — many Canadian investors do exactly this.

💡 The split strategy: open Wealthsimple with code LOIO3A for the immediate benefits ($45 bonus, chequing account, tax filing), and Questrade for accounts that benefit from margin trading or options.
WS
Wealthsimple — Everyday use
TFSA for Canadian ETFs at $0 commission, chequing account for everyday spending, Wealthsimple Tax for your annual return. $45 bonus to get started.
Ideal to start
QT
Questrade — Specialized use
RRSP for ETFs (free purchases on large volumes), margin account if you want leverage, options trading if you have the experience.
For going further
💰
End result
You get the best of both: simplicity + bonus at WS, advanced features + optimized cost for high-volume ETF investing at Questrade. No rules against holding both.
Best of both worlds
FAQ

Common questions


Wealthsimple is generally better suited for beginners. The interface is more intuitive, the robo-advisor lets you delegate everything, and $0 commissions on all trades (including ETF sales) keeps things simple. Questrade has a steeper learning curve but offers more flexibility for advanced strategies like margin and options.
It depends on your activity. ETF purchases: Questrade is free (but sales cost $4.95–$9.95). Stock trades: $0 at Wealthsimple vs $4.95–$9.95 at Questrade. USD FX: 1.5% at WS (base) vs 1.99% at Questrade. If you buy ETFs and hold long-term, Questrade can save money on the purchase side. For stocks and smaller investors, Wealthsimple is typically more cost-effective overall.
Yes. Both Questrade and Wealthsimple offer RESP accounts. They also both support TFSA, RRSP, FHSA, and RRIF. Wealthsimple added RESP support in 2023. If you're opening an RESP, compare the available investment options and transfer fees before committing.
Yes, absolutely. There's no rule against opening accounts at multiple Canadian brokers. Many investors use Wealthsimple for everyday investing and Questrade for specific advanced strategies. Just track your total TFSA and RRSP contributions across all accounts — the limits apply to your total contributions, not per broker.
Questrade sometimes runs promotions (commission credits or cash bonuses), but these vary and aren't always available. Wealthsimple's referral bonus with code LOIO3A is more straightforward: a guaranteed $25 on your first $100 deposit, with no confirmed expiry. With our exclusive offer, you also get $20 via Interac e-Transfer — $45 total, immediately after your referral is confirmed.
Exclusive offer · $45 total


Start with Wealthsimple
today

Code LOIO3A: $25 from Wealthsimple + $20 I send via Interac e-Transfer = $45 in cash. You can always open Questrade later — the two work perfectly side by side.

Open my Wealthsimple account →