WealthPerks
Updated May 2026

Wealthsimple vs Questrade

Two of Canada's most popular investing platforms — compared on fees, accounts, mobile UX, and who actually wins for your situation.

Bottom line: Questrade is better for active traders and offers a $50 referral bonus. Wealthsimple wins for beginners, FHSA, crypto, and ease of use — with a $25 signup bonus and no minimum deposit.

Quick Answer: Wealthsimple vs Questrade

  • ✓ Wealthsimple: $0 commissions, FHSA, crypto, fractional shares, auto-invest, beginner-friendly app, $25 referral bonus (code: XVJHLJ)
  • ✓ Questrade: Free ETF purchases, lower cost for active stock traders, $1,000 account minimum, no crypto, $50 referral bonus (code: 7291157)
  • → Choose Wealthsimple if you're just starting out, want an all-in-one platform, or have less than $1,000 to invest
  • → Choose Questrade if you're an active trader buying individual stocks or want the larger $50 bonus

Full Feature Comparison

Feature
Wealthsimple$25 Bonus
Questrade
Stock trading fees
$0
$4.95–$9.95/trade
ETF trading fees
$0
$0 to buy
Account minimum
$0
$1,000
Mobile app quality
Ease of use
TFSA
✓
✓
RRSP
✓
✓
FHSA
✓
✓
Crypto trading
✓
✗
Fractional shares
✓
✗
Auto-invest / robo
✓
✗
Human advisors
✓
✗
CIPF protected
✓
✓
CDIC eligible
✓
✗
Referral bonus
$25 CAD
None
Action
Get $25 →
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Data sourced from public platform pages. Verified May 2026. Fees subject to change.

Detailed Breakdown

Trading Fees

Wealthsimple charges $0 for all stock and ETF trades. Questrade charges $0 to buy ETFs but $4.95–$9.95 to sell them or buy individual stocks. For investors who trade frequently in individual stocks, Questrade's model can become expensive. For buy-and-hold ETF investors, both are comparable.

Account Types

Both platforms support TFSA and RRSP. Wealthsimple added FHSA support for first-time home buyers — Questrade does too. Wealthsimple also supports crypto tradingnatively; Questrade does not offer this.

Minimum Account Balance

Wealthsimple has a $0 minimum. Questrade requires a $1,000 minimum to open an account. This makes Wealthsimple more accessible for investors just starting out.

Mobile App

Wealthsimple's mobile app consistently receives higher App Store and Google Play ratings. It was designed mobile-first. Questrade's app is functional but more complex, and many power users prefer its desktop platform.

Referral Bonus

Both platforms now offer referral bonuses. Wealthsimple offers $25 CAD for new users who deposit $100+ from an external bank (code: XVJHLJ). Questrade offers $50 CAD for new users who deposit $250+ within 60 days (code: 7291157). Questrade's bonus is larger but requires a higher minimum deposit.

Who Should Choose Which?

Choose Wealthsimple if:

  • ✓ You're new to investing
  • ✓ You want crypto in the same platform
  • ✓ You're opening a FHSA
  • ✓ You prefer a mobile-first experience
  • ✓ You want fractional shares
  • ✓ You want a $25 signup bonus

Choose Questrade if:

  • ✓ You actively trade individual stocks
  • ✓ You prefer a desktop trading interface
  • ✓ You're buying ETFs commission-free
  • ✓ You have $250+ to invest and want the $50 bonus
Get $50 with code 7291157 →

Ready to Claim the Wealthsimple $25 Bonus?

Do You Qualify?

Check all items that apply to confirm your eligibility.

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Code XVJHLJ · Opens in Wealthsimple

Account-Specific Guides

Wealthsimple supports FHSA, TFSA, and RRSP with $0 commissions — Questrade does not offer the FHSA. See how the referral bonus applies to each account type:

→ FHSA Referral Guide→ TFSA Referral Guide→ RRSP Referral Guide→ Get Code XVJHLJ ($25 Bonus)

WealthPerks Insight

This is the most consequential investing platform comparison for Canadians — both are regulated, CIPF-protected, and strong. The right choice depends on how hands-on you want to be.

Wealthsimple excels for beginners and managed portfolios. Questrade excels for self-directed ETF investors who want lower commissions on larger portfolios and access to the FHSA.

Who Should Choose Which?

Choose Wealthsimple If

  • You want a managed robo-advisor portfolio
  • You are new to investing and want the simplest experience
  • You prefer $0 commissions on both ETFs and stocks in one app
  • You want a lower $100 minimum deposit

Choose Questrade If

  • You want to self-direct your own ETF portfolio
  • You have a larger portfolio where free ETF purchases save meaningful money
  • You want access to options, FX, or advanced order types
  • You want the $50 bonus and can deposit $250

WealthPerks Take

For most new investors, start with Wealthsimple for its simplicity and $100 minimum. As your portfolio grows and you become more comfortable, Questrade's free ETF purchases become increasingly valuable. Many experienced Canadian investors hold accounts at both.

Claim the Wealthsimple $25 bonus: Code XVJHLJ →