Quick Answer: Wealthsimple vs Questrade
- ✓ Wealthsimple: $0 commissions, FHSA, crypto, fractional shares, auto-invest, beginner-friendly app, $25 referral bonus
- ✓ Questrade: Free ETF purchases, lower cost for active stock traders, $1,000 account minimum, no crypto, no FHSA
- → Choose Wealthsimple if you're just starting out, want an all-in-one platform, or want to claim a $25 bonus
- → Choose Questrade if you're an active trader buying individual stocks frequently
Full Feature Comparison
| Feature | Wealthsimple$25 Bonus | Questrade |
|---|---|---|
| Stock trading fees | $0 | $4.95–$9.95/trade |
| ETF trading fees | $0 | $0 to buy |
| Account minimum | $0 | $1,000 |
| Mobile app quality | ||
| Ease of use | ||
| TFSA | ✓ | ✓ |
| RRSP | ✓ | ✓ |
| FHSA | ✓ | ✓ |
| Crypto trading | ✓ | ✗ |
| Fractional shares | ✓ | ✗ |
| Auto-invest / robo | ✓ | ✗ |
| Human advisors | ✓ | ✗ |
| CIPF protected | ✓ | ✓ |
| CDIC eligible | ✓ | ✗ |
| Referral bonus | $25 CAD | None |
Data sourced from public platform pages. Verified May 2026. Fees subject to change.
Detailed Breakdown
Trading Fees
Wealthsimple charges $0 for all stock and ETF trades. Questrade charges $0 to buy ETFs but $4.95–$9.95 to sell them or buy individual stocks. For investors who trade frequently in individual stocks, Questrade's model can become expensive. For buy-and-hold ETF investors, both are comparable.
Account Types
Both platforms support TFSA and RRSP. Wealthsimple added FHSA support for first-time home buyers — Questrade does too. Wealthsimple also supports crypto tradingnatively; Questrade does not offer this.
Minimum Account Balance
Wealthsimple has a $0 minimum. Questrade requires a $1,000 minimum to open an account. This makes Wealthsimple more accessible for investors just starting out.
Mobile App
Wealthsimple's mobile app consistently receives higher App Store and Google Play ratings. It was designed mobile-first. Questrade's app is functional but more complex, and many power users prefer its desktop platform.
Referral Bonus
Wealthsimple offers a $25 CAD referral bonus for new users who open an account and deposit $100 from an external bank. Questrade offers no referral bonus. This alone is a meaningful difference if you're opening a new brokerage account.
Who Should Choose Which?
Choose Wealthsimple if:
- ✓ You're new to investing
- ✓ You want crypto in the same platform
- ✓ You're opening a FHSA
- ✓ You prefer a mobile-first experience
- ✓ You want fractional shares
- ✓ You want a $25 signup bonus
Choose Questrade if:
- → You actively trade individual stocks
- → You prefer a desktop trading interface
- → You're buying ETFs (free to buy)
- → You already have $1,000 to invest
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