Wealthsimple vs CIBC Investor's Edge Comparison: 2024
About Wealthsimple
Canadians have got more new and better platforms for trading in recent years where the cost is lower and the interface and navigation becomes much more user-friendly. And the credit goes to rise in online brokers and robo advisors.
Let’s move on to the review of such an online broker Wealthsimple.
About Wealthsimple
Launched in September 2014 by Michael Katchen, Wealthsimple is an online Canadian broker offering you thousands of stocks and ETFs on the major Canadian and U.S. exchanges. A leading robo advisor is a fast growing fintech company in Canada.
The broker focuses largely on zero-commissions, no-account minimums, user-friendly interface and great mobile-trading experience. Therefore, you can make as many trades you want at just $0 as a commission.
Wealthsimple Trade is a part of Canadian ShareOwner Investments, a member of IIROC, CIPF, and is also a registered investment dealer. Therefore, Customer accounts are protected by CIPF in case the ShareOwner becomes
About CIBC Investor's Edge
CIBC Investor's Edge: Introduction
It is one of the online brokerage accounts in Canada which is a division of CIBC Investor Services Incorporates which in turn is a subsidiary of CIBC. Canadian Imperial Bank of Commerce is one of the big five banks of Canada. CIBC was formed by merging Canadian Bank of Commerce and Imperial Bank of Canada in the year 1961.
Type of Accounts offered by CIBC Investor's Edge Account
Registered Accounts
- Tax-Free Savings Account (TFSA)
- Registered Retirement Savings Plan (RRSP)
- Registered Education Savings Plan (RESP)
- Registered Retirement Income Fund (RRIF)
- Prescribed Retirement Income Fund (PRIF)
- Locked-in Retirement Account (LIRA)
- Locked-in Retirement Fund (LIRF)
Non-Registered Accounts
- Cash account
- Margin account
The type of accounts offered shown in tabular form:
Who can open an account with CIBC Investor's Edge Account
Residents
• Individual accounts • Joint accounts
Legal Entities
• Corporate account • Partnership account • Formal Trust account • Investment Club account • Estate account
Type of investment options
Wealthsimple vs CIBC Investor's Edge Account Opening Charges: 2024
| Charge | Wealthsimple | CIBC Investor's Edge |
|---|---|---|
| Demat Account Opening Charges | N/A | N/A |
| Trading Acc Opening Charges | N/A | N/A |
| Trading Account AMC | N/A | N/A |
| Demat Account AMC | N/A | N/A |
Wealthsimple vs CIBC Investor's Edge Brokerage Charges and Plans : 2024
| Charge | Wealthsimple | CIBC Investor's Edge |
|---|---|---|
| Plan Name | N/A | N/A |
| Equity Delivery | N/A | N/A |
| Equity Intraday | N/A | N/A |
| Equity Futures | N/A | N/A |
| Equity Options | N/A | N/A |
| Currency Futures | N/A | N/A |
| Currency Options | N/A | N/A |
| Commodity Options | N/A | N/A |
| Mutual Fund | N/A | N/A |
Wealthsimple vs CIBC Investor's Edge Margin / Exposure: 2024
| Segment | Wealthsimple | CIBC Investor's Edge |
|---|---|---|
| Equity Delivery | N/A | N/A |
| Equity Intraday | N/A | N/A |
| Equity Future | N/A | N/A |
| Equity Options | N/A | N/A |
| Currency Future | N/A | N/A |
| Currency Options | N/A | N/A |
| Commodity Future | N/A | N/A |
| Commodity Options | N/A | N/A |