Both Wealthsimple and Questrade are legitimate, regulated Canadian investment platforms. The right choice depends on what kind of investor you are. Here is an honest side-by-side comparison.
| Feature | Wealthsimple | Questrade |
|---|---|---|
| Stock trades | $0 commission | $4.95–$9.95 |
| ETF trades | $0 commission | $0 to buy, $4.95 to sell |
| Minimum balance | $0 | $1,000 |
| TFSA / RRSP / FHSA | Yes | Yes |
| Options trading | No | Yes |
| Crypto | Yes | No |
| App quality | Excellent | Good |
| Signup bonus | $25 cash (code 7-MDUG) | $50 in free trades |
| Best for | Beginners & casual investors | Active traders |
Wealthsimple charges zero commission on all stock and ETF trades. There are no monthly account fees and no minimum balance. The only fee is 0.4–0.5% per year on optional managed portfolios.
Questrade charges $4.95–$9.95 per stock trade, though ETF purchases are free. There is a $1,000 minimum balance to open an account. This makes Questrade significantly more expensive for anyone buying individual stocks.
Wealthsimple wins on simplicity. The app is one of the cleanest in Canada — designed for people who are not professional traders. Opening an account takes about 5 minutes and you can buy your first stock the same day.
Questrade has more features but is correspondingly more complex. It suits people who want access to options, advanced charting, and a desktop trading platform. For a beginner, it can feel overwhelming.
Both platforms support all major Canadian registered accounts: TFSA, RRSP, FHSA, RESP, and non-registered accounts. Wealthsimple also offers crypto and a high-interest cash account. Questrade offers options trading, forex, and CFDs — products Wealthsimple does not have.
Wealthsimple offers a $25 cash bonus when you sign up with referral code 7-MDUG and deposit $100 or more. The bonus lands in your account within 24 hours — real cash you can withdraw or invest.
Questrade offers $50 in free trades for new accounts. This is only useful if you plan to actively trade — if you hold ETFs, you may never use it since ETF purchases are already free.
Choose Wealthsimple if: you are a beginner, you want the simplest possible experience, you want to buy stocks commission-free, or you want to hold crypto alongside your investments.
Choose Questrade if: you are an experienced trader, you want to trade options, you need a full desktop platform, or you are comfortable paying per-trade commissions for access to more advanced tools.
For most Canadians — especially those just getting started — Wealthsimple is the better choice in 2026.
For beginners and casual investors, yes. Wealthsimple has no commissions, no minimum balance, and a simpler app. Questrade is better for active traders who need options and advanced tools.
Yes. Many Canadians use both — Wealthsimple for everyday stock and ETF investing and Questrade for options or more advanced strategies. There is no rule against having accounts at both.
Yes. Use referral code 7-MDUG when signing up and deposit $100 or more to get $25 cash within 24 hours.
Both are equally safe. Both are regulated by IIROC and are members of CIPF, which protects investments up to $1 million if the brokerage were to fail.
Related: Wealthsimple review 2026 · Get the $25 referral code
Use code 7-MDUG, deposit $100+, get $25 cash within 24 hours. Verified June 2026.