United States
United Kingdom
Germany
Netherlands
Australia
United Arab Emirates
Canada
Italy
Spain
Austria
Croatia
Serbia
Portugal
CyprusQuestrade vs Wealthsimple
What each one charges, who licenses it, and how they rank against each other country by country.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The short version
Canada is the one country where we rank both for stocks, and Wealthsimple comes out ahead there.
We score each country separately, based on the company that would actually hold your account there, so check your own country in the table below.
On the one fee we could check for both, they charge the same.
Both hold top-tier (tier-1) licences: Questrade from CIRO, Wealthsimple from CSA and CIRO.
- Both charge the same for US stock orders: $0 per order.
- We list both in the same 1 country out of the 14 we cover.
- Only Questrade offers forex and CFDs.
- Only Wealthsimple offers crypto.
- Wealthsimple gets more search attention than Questrade (Market Signal 65 vs 49). That tells you how well known it is, not how good it is.
Where you can use each one
Where each one ranks on our list in every country we cover, its Coinish Score there, and the company that would hold your account. If a broker isn't allowed to take clients from a country, it isn't on that country's list.
Stock brokers & investing apps
| Country | Questrade | Wealthsimple |
|---|---|---|
| Canada | #5 of 566/100Locally licensed Questrade, Inc. · CIRO | #4 of 568/100Locally licensed Wealthsimple Investments Inc. · CIRO |
Fees and features side by side
| Questrade | Wealthsimple | |
|---|---|---|
| Products | Stocks & ETFs, Options, Forex, CFDs | Stocks & ETFs, Crypto |
| Owner | Questrade Financial Group Inc. | Not verified yet |
| EUR/USD all-in cost | 1.9 pips, FX & CFD account (target spread) | Not verified yet |
| US stock commission | $0 per order | $0 per order |
| Crypto trading fee | Not verified yet | 0.5%, app fee per trade (no order book) |
| Currency conversion fee | Not verified yet | 1.5% |
| Inactivity fee | None | Not verified yet |
| Withdrawal fee | None | Not verified yet |
| Minimum deposit | $0 (Questrade, Inc.) | Not verified yet |
| Instruments | Not verified yet | Not verified yet |
| Fractional shares | Yes | Yes |
| Platforms | Questrade Edge, Questrade Pro | Not verified yet |
| Deposit methods | Online banking bill payment, Instant deposit (Interac, Visa Debit), Pre-authorized deposit, Wire transfer, Cheque | Interac e-Transfer, Pre-authorized debit |
| Withdrawal time (stated) | Not verified yet | 1–3 business days (instant withdrawals for a fee) |
| Demo account | Not verified yet | Not verified yet |
| Support | live chat, phone | live chat · 24/7 |
Every figure comes from the broker's own pages or its regulator. You'll find the sources in each review (Questrade, Wealthsimple).
Licences
Questrade vs Wealthsimple: common questions
Which is better, Questrade or Wealthsimple?
Canada is the one country where we rank both for stocks, and Wealthsimple comes out ahead there. For reference, Questrade's best ranking is #5 of 5 CFD brokers in Canada, and Wealthsimple's best ranking is #4 of 6 crypto exchanges in Canada.
Is Questrade cheaper than Wealthsimple?
Both charge the same for US stock orders: $0 per order.
Is Questrade or Wealthsimple better regulated?
Both hold top-tier (tier-1) licences: Questrade from CIRO, Wealthsimple from CSA and CIRO. Which company you actually sign up with depends on where you live; the country table on this page names it for each one.
Can I use both Questrade and Wealthsimple where I live?
We list both in the same 1 country out of the 14 we cover. For stocks, you'll find both on our lists in Canada.