Questrade vs Wealthsimple (2026)
The short version: both are now $0-commission, so it comes down to fit. Wealthsimple wins on simplicity for beginners. Questrade wins for anyone trading U.S. stocks, thanks to USD accounts that dodge Wealthsimple's 1.5% currency-conversion fee.
| Broker | Stock/ETF commission | U.S. trades | Best for | Rating |
|---|---|---|---|---|
| Questrade | $0 on stocks & ETFs | USD accounts available | All-around Canadian + U.S. trading | 4.7 |
| Wealthsimple | $0 on stocks & ETFs | 1.5% FX on USD (basic tier) | Beginners & hands-off investors | 4.6 |
Fees
Neither charges commission on Canadian or U.S. stocks and ETFs. The difference is currency: Wealthsimple's basic tier adds a 1.5% conversion fee every time you move between Canadian and U.S. dollars, while Questrade lets you hold a USD account and avoid it. If you trade U.S. names regularly, that gap adds up; if you stick to Canadian ETFs, it's a non-issue.
Platform & ease of use
Wealthsimple is the easiest app in Canada — genuinely hard to get lost in, with fractional shares so you can start with a few dollars. Questrade's platform is deeper: more account types, more research, more order options. That depth is worth it as you grow, and slightly more to learn on day one.
Who each is best for
Choose Wealthsimple if…
You're new, you want the simplest possible app, you're mostly buying Canadian ETFs, and fractional shares appeal to you.
Choose Questrade if…
You trade U.S. stocks (USD account = no repeated FX fee), you want every registered account type, or you want more tools as you get more serious.
The third option
If what you actually want is serious charts and screeners, neither is the strongest — Moomoo gives you professional charting and no FX fee (with a small per-share commission). See our full Canadian broker comparison for the whole field.
Grade any chart with AI — free →
Questrade vs Wealthsimple — FAQ
Is Questrade or Wealthsimple cheaper?
Both are $0-commission on Canadian and U.S. stocks and ETFs. The real difference is U.S. trades: Wealthsimple's basic tier charges 1.5% to convert currency, while Questrade's USD accounts let you avoid that. For Canadian ETFs held long-term, both are essentially free.
Which is better for beginners?
Wealthsimple — it's simpler and has fractional shares. Questrade is more capable and better once you trade U.S. stocks or want more account types and tools.
Can I use both?
Yes, and some people do — Wealthsimple for simple Canadian holdings, Questrade for U.S. trading in a USD account. There's no rule that you can only have one broker.
A free daily email — the biggest movers, explained in plain English. No spam, unsubscribe anytime.