Questrade vs Wealthsimple Comparison: 2024

About Questrade

Founded in 1999, Questrade is a fastest growing Canada based broker. The leading canadian broker always remained an early adopter whether it was offering $4.95 commissions, the free North American ETFs, dual-currency registered accounts, or trailer free rebates.

Every year, over 100,000 Canadians open their accounts with Questrade and Questrade currently has an AUM of $15 billion.

Regulated by the Investment Industry Regulatory Organisation of Canada (IIROC) and Canadian Investor Protection Fund (CIPF), Questrade went beyond with an additional $10 million in private insurance (for self-directed as well as managed accounts) and 100% reimbursement for unauthorized transactions.

Questrade always had an edge in terms of fees and commissions. One of the reasons is that they have low overhead costs as they have no branches.

Questrade Features

• Questrade provides trading in stocks, bonds, ETFs, options, Mutual Funds, CFDs and forex. • It also offers international equities, guaranteed investment certificates (GICs), precious metal purchases, and initial public offerings

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