The single most-Googled investing matchup in Canada. Wealthsimple won the fee war ($0 stocks). Questrade kept the active-trader crown (IQ Edge, USD accounts, Level 2 data). Here's the line between the two.
★ QUICK VERDICT ★
If you only read one section
PICK WEALTHSIMPLE IF...
You're starting under $100k
You buy-and-hold ETFs / stocks
You want crypto + stocks on one platform
You trade options
PICK QUESTRADE IF...
You actively trade (10+ trades/month)
You hold significant USD positions
You need IQ Edge advanced platform
You need corporate / partnership accounts
★ HEAD-TO-HEAD ★
The 6 numbers that matter
METRIC
WEALTHSIMPLE
QUESTRADE
WINNER
Stock trades
$0
$4.95-$9.95
WS
ETF buys
$0
$0 (buy) · $4.95+ sell
WS
Options
$0 per contract
$9.95 + $1/contract
WS
FX conversion
~1.5% spread
~1.5% + $0 fee
TIE
Account minimum
$1
$1,000
WS
Inactivity fee
$0
$25/qtr (waived $5k+)
WS
★ FULL FEATURE MATRIX ★
Everything compared
FEATURE
WEALTHSIMPLE
QUESTRADE
TFSA / RRSP / FHSA / RESP
✓
✓
LIRA / LIF
✓
✓
USD accounts
Premium ($100k) only
✓ All tiers
Margin trading
From 3.95%
From 7.95%
Options trading
✓
✓
Crypto (140+ coins)
✓
✗
Direct indexing
✓
✗
Fractional shares
✓
✗
Advanced trading platform
Basic + Trade Premium
IQ Edge (pro-grade)
Real-time L2 quotes
Premium only
$89.95/mo add-on
After-hours trading
Limited
✓
Roboadvisor (auto-invest)
✓ Wealthsimple Invest
✓ Questwealth
Mobile app rating
4.7 stars (iOS)
4.0 stars (iOS)
★ VERDICT BY USE CASE ★
Who wins for you
COMPLETE BEGINNERWEALTHSIMPLE
Free trades, $1 minimum, simple UI. No reason to pay Questrade fees.
ETF INDEX INVESTORWEALTHSIMPLE
Both have free ETF buys, but WS has no sell fees and free auto-deposits.
ACTIVE STOCK TRADERQUESTRADE
IQ Edge platform + after-hours + Level 2 data. WS Premium is closer but not equal.
OPTIONS TRADERWEALTHSIMPLE
$0 contract fees vs Questrade's $9.95 + $1/contract. Saves $50+ per trade if you trade volume.
US STOCK INVESTORQUESTRADE
USD accounts at all tiers. WS only offers USD at Premium ($100k assets).
CRYPTO + STOCKSWEALTHSIMPLE
One platform for both. Questrade has zero crypto.
HIGH-NET-WORTH ($500k+)EITHER
WS Generation: 0.2-0.4% management. Questrade Pro: $0.50/trade. Different optimal use cases.
BUSINESS / CORP ACCOUNTQUESTRADE
Questrade has corporate, investment club, and partnership accounts. WS doesn't.
If you're a buy-and-hold investor (which most Canadians should be), the $0 trade fees, no minimums, and zero inactivity charges win the math. Questrade only beats it if you're actively trading (10+/month), holding meaningful USD, or need pro-tier tools. The 20% of users in that camp should pick Questrade — for everyone else, Wealthsimple's lower friction wins.