Questrade vs Wealthsimple: Which is Better for Canadians in 2025?
If you're looking to start investing in Canada, two names come up immediately: Questrade and Wealthsimple. Both are excellent platforms, but they're built for different kinds of investors. In this comparison, we break down exactly who each platform is best for — so you don't have to guess.
Quick Verdict
Choose Questrade if you want to buy and manage your own ETFs and stocks with low commissions. Choose Wealthsimple if you want a simple, beautifully designed app with zero-commission trading and a hands-off investing option.
Fees
This is where the two platforms differ most significantly for active investors:
- Questrade: ETF purchases are free. Selling ETFs costs $4.95–$9.95. Stock trades cost $4.95–$9.95 each way.
- Wealthsimple Trade: $0 commissions on stocks and ETFs. A 1.5% currency conversion fee applies when trading US stocks.
For Canadian ETF investors buying and holding, Wealthsimple is effectively free. For US stock traders, Questrade's flat fee often beats Wealthsimple's currency conversion charge on larger orders.
Account Types
Both platforms support TFSA, RRSP, FHSA, and personal accounts. Questrade also offers RESPs and corporate accounts, which Wealthsimple Trade does not currently support. If you're investing for a child's education or through a corporation, Questrade is your only option of the two.
Platform Experience
Wealthsimple's app is genuinely one of the best-designed financial apps in Canada. It's clean, fast, and approachable. Questrade's platform is more powerful but has a steeper learning curve — it's built for investors who want more control and data.
Who Should Choose Questrade?
- Investors who want to buy US-listed ETFs or stocks regularly
- Those who need an RESP or corporate account
- More experienced investors who want advanced charting and order types
Who Should Choose Wealthsimple?
- Beginners who want a simple, guided experience
- Investors sticking to Canadian ETFs and stocks
- Anyone who values a clean, modern app above all else
- Those who also want a high-interest cash account in one place
Our Pick
For most Canadian investors — especially beginners buying Canadian ETFs — Wealthsimple is the easier, cheaper starting point. For those who plan to diversify into US markets or need advanced features, Questrade is worth the slightly higher learning curve.
You can also hold accounts at both — many Canadians do.