United States
United Kingdom
Germany
Netherlands
Australia
United Arab Emirates
Canada
Italy
Spain
Austria
Croatia
Serbia
Portugal
CyprusWealthsimple vs Interactive Brokers
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 Interactive Brokers 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, Wealthsimple is cheaper.
Both hold top-tier (tier-1) licences: Wealthsimple from CSA and CIRO, Interactive Brokers from SEC / FINRA, FCA, CBI, ASIC, CIRO, SFC, MAS and JFSA.
- Wealthsimple is cheaper for US stock orders: $0 per order, compared with $1 per order at Interactive Brokers.Edge: Wealthsimple
- We list Wealthsimple in 1 of the 14 countries we cover and Interactive Brokers in 12. They overlap in 1.Edge: Interactive Brokers
- Only Interactive Brokers offers forex and CFDs.
- Wealthsimple gets more search attention than Interactive Brokers (Market Signal 65 vs 61). 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 | Wealthsimple | Interactive Brokers |
|---|---|---|
| Canada | #4 of 568/100Locally licensed Wealthsimple Investments Inc. · CIRO | #3 of 571/100Locally licensed Interactive Brokers Canada Inc. · CIRO |
| Australia | Not listed | #5 of 871/100Locally licensed Interactive Brokers Australia Pty. Ltd. · ASIC |
| Austria | Not listed | #2 of 871/100EU passport Interactive Brokers Ireland Limited · CBI |
| Croatia | Not listed | #2 of 871/100EU passport Interactive Brokers Ireland Limited · CBI |
| Cyprus | Not listed | #2 of 971/100EU passport Interactive Brokers Ireland Limited · CBI |
| Germany | Not listed | #2 of 1271/100EU passport Interactive Brokers Ireland Limited · CBI |
| Italy | Not listed | #2 of 1171/100EU passport Interactive Brokers Ireland Limited · CBI |
| Netherlands | Not listed | #3 of 1071/100EU passport Interactive Brokers Ireland Limited · CBI |
| Portugal | Not listed | #2 of 971/100EU passport Interactive Brokers Ireland Limited · CBI |
| Spain | Not listed | #2 of 971/100EU passport Interactive Brokers Ireland Limited · CBI |
| United Kingdom | Not listed | #4 of 771/100Locally licensed Interactive Brokers (U.K.) Limited · FCA |
| United States | Not listed | #6 of 971/100Locally licensed Interactive Brokers LLC · SEC / FINRA |
Crypto exchanges
| Country | Wealthsimple | Interactive Brokers |
|---|---|---|
| Canada | #4 of 667/100Locally licensed Wealthsimple Investments Inc. · CSA | Not listed |
Fees and features side by side
| Wealthsimple | Interactive Brokers | |
|---|---|---|
| Products | Stocks & ETFs, Crypto | Stocks & ETFs, Forex, CFDs, Options, Futures, Crypto |
| Owner | Not verified yet | IBG LLC |
| EUR/USD all-in cost | Not verified yet | 0.6 pips, IBKR Pro (0.20 bps commission + spread from 0.1 pip) |
| US stock commission | $0 per order | $1 per order |
| Crypto trading fee | 0.5%, app fee per trade (no order book) | Not verified yet |
| Currency conversion fee | 1.5% | Not verified yet |
| Inactivity fee | Not verified yet | None |
| Withdrawal fee | Not verified yet | Up to $10 |
| Minimum deposit | Not verified yet | $0 (Interactive Brokers LLC) |
| Instruments | Not verified yet | Not verified yet |
| Fractional shares | Yes | Yes |
| Platforms | Not verified yet | Client Portal, IBKR Desktop, Trader Workstation (TWS) |
| Deposit methods | Interac e-Transfer, Pre-authorized debit | Wire transfer, Electronic funds transfer (SEPA, ACH, BACS), Check (US only) |
| Withdrawal time (stated) | 1–3 business days (instant withdrawals for a fee) | same day or next day (SEPA and bank wire) |
| Demo account | Not verified yet | Yes |
| Support | live chat · 24/7 | live chat, email, phone |
Every figure comes from the broker's own pages or its regulator. You'll find the sources in each review (Wealthsimple, Interactive Brokers).
Licences
Interactive Brokers
- Interactive Brokers LLC: SEC / FINRA (Tier 1)
- Interactive Brokers (U.K.) Limited: FCA (Tier 1)
- Interactive Brokers Ireland Limited: CBI (Tier 1)
- Interactive Brokers Australia Pty. Ltd.: ASIC (Tier 1)
- Interactive Brokers Canada Inc.: CIRO (Tier 1)
- Interactive Brokers Hong Kong Limited: SFC (Tier 1)
- Interactive Brokers Singapore Pte. Ltd.: MAS (Tier 1)
- Interactive Brokers Securities Japan Inc.: JFSA (Tier 1)
- Interactive Brokers India Pvt. Ltd.: SEBI (Tier 2)
Wealthsimple vs Interactive Brokers: common questions
Which is better, Wealthsimple or Interactive Brokers?
Canada is the one country where we rank both for stocks, and Interactive Brokers comes out ahead there. For reference, Wealthsimple's best ranking is #4 of 6 crypto exchanges in Canada, and Interactive Brokers' best ranking is #2 of 12 stock brokers & investing apps in Germany.
Is Wealthsimple cheaper than Interactive Brokers?
Wealthsimple is cheaper for US stock orders: $0 per order, compared with $1 per order at Interactive Brokers.
Is Wealthsimple or Interactive Brokers better regulated?
Both hold top-tier (tier-1) licences: Wealthsimple from CSA and CIRO, Interactive Brokers from SEC / FINRA, FCA, CBI, ASIC, CIRO, SFC, MAS and JFSA. 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 Wealthsimple and Interactive Brokers where I live?
We list Wealthsimple in 1 of the 14 countries we cover and Interactive Brokers in 12. They overlap in 1. For stocks, you'll find both on our lists in Canada.