Wealthsimple bet on $0 commissions to win young investors. Qtrade bet on free Morningstar Premium + JD-Power-winning service to keep researchers. Both are right — for different people.
★ QUICK VERDICT ★
Skip to the answer
PICK WEALTHSIMPLE IF...
You're under $100k assets
You buy-and-hold ETFs / stocks
You want crypto on the same platform
Mobile-first matters
PICK QTRADE IF...
You research before every trade
You need Morningstar Premium
You value phone + in-person service
You hold meaningful USD positions
★ HEAD-TO-HEAD ★
The decider numbers
METRIC
WEALTHSIMPLE
QTRADE
WINNER
Stock trades
$0
$8.75
WS
Free ETFs
All ETFs free
100+ curated list
WS
Account min
$1
$1,000
WS
Inactivity fee
$0
$25/qtr (under $25k)
WS
Research
Basic
Morningstar Premium FREE
Qt
Customer service
Email + chat (no phone basic)
JD Power #1 · phone + branch
Qt
★ FULL FEATURE MATRIX ★
Everything compared
FEATURE
WEALTHSIMPLE
QTRADE
TFSA / RRSP / FHSA / RESP
✓
✓
USD accounts
Premium ($100k) only
✓ All tiers
Options trading
$0 per contract
$8.75 + $1.25/contract
Crypto (140+ coins)
✓
✗
Fractional shares
✓
✗
Direct indexing
✓
✗
Trading platform
Basic + WS Trade Premium
Clean web · no IQ Edge equivalent
Research access
Basic charts
Morningstar Premium FREE
Roboadvisor
Wealthsimple Invest
Qtrade Guided Portfolios
Phone support
Premium tier only
All clients (with CU branches)
Mobile app rating
4.7 stars (iOS)
4.5 stars (iOS)
★ VERDICT BY USE CASE ★
Who wins for you
COMPLETE BEGINNERWEALTHSIMPLE
Free trades, $1 minimum, modern app. Qtrade is overkill for first $5,000.
BUY-AND-HOLD ETFWEALTHSIMPLE
All ETF buys free vs Qtrade's curated list. Less restriction.
RESEARCH-HEAVYQTRADE
Free Morningstar Premium ($249/yr) is unmatched. WS has no equivalent.
CRYPTO + STOCKSWEALTHSIMPLE
WS has 140+ coins. Qtrade has zero.
PHONE SUPPORT MATTERSQTRADE
Qtrade ranks #1 for service. WS Premium tier required for phone support.
USD HOLDINGSQTRADE
Qtrade USD accounts at all tiers. WS gates this behind $100k Premium.
★ PROS & CONS ★
The honest list
WEALTHSIMPLE
✓$0 trades on everything (stocks, ETFs, options)
✓$1 minimum · no inactivity fees ever
✓Crypto + stocks + bonds + gold in one app
✓Fractional shares · own $5 of Berkshire
✓Best mobile app in Canadian investing
✗No advanced research / Morningstar tools
✗Phone support gated behind Premium ($100k)
✗USD accounts at Premium tier only
QTRADE
✓Morningstar Premium FREE ($249/yr value)
✓JD Power #1 Canadian DIY broker 8 years
✓In-person service via credit union branches
✓USD accounts at all tiers
✓Clean web platform · less intimidating
✗$8.75 per stock trade adds up fast
✗ETF "free" list is curated (not universal)
✗No crypto · no fractional shares
★ OUR PICK ★
The tiebreaker
WEALTHSIMPLE wins on cost. QTRADE wins on service.
If trading costs and modern UX matter most, Wealthsimple. If you value research depth, phone support, and Morningstar-grade tools, Qtrade. Most Canadians starting today should pick Wealthsimple — but a researcher with $50k+ may genuinely save money via better picks using Qtrade's free Morningstar Premium.