Qtrade Direct Investing and Wealthsimple Trade both charge nothing to trade Canadian and US stocks and ETFs online, but they are built for different investors. Qtrade leans on research tools, portfolio analytics and service; Wealthsimple Trade is built around a simple app that sits alongside Wealthsimple’s managed portfolios, chequing account and crypto. This page compares the two; the online broker comparison covers the rest of the market.
Side by side
Fees are from each broker’s pricing page as of September 2026.
| Qtrade | Wealthsimple Trade | |
|---|---|---|
| Stock and ETF commission | $0 | $0 |
| Mutual funds | $0 (a short-term trading fee applies to sales within 90 days) | Not listed on Wealthsimple’s pricing page |
| Equity options | $0.75 per contract; $30 per assignment | $0 per contract |
| Currency conversion | Not published as a percentage; confirm with Qtrade | 1.5% from a CAD account; 1.5% down to 0% into the USD account |
| US-dollar accounts | US$15 per quarter per US-dollar RRSP, RRIF or TFSA | $10/month at Core; included at Premium and Generation |
| DRIP | Free | Included at every tier |
| Margin | Yes | Yes |
| Crypto | No | Yes, a flat 0.5% plus the spread |
| Transfer out | $150 per account (plus $100 to close in the first year) | $0 |
Where they differ
Research and service
Qtrade’s platform includes portfolio analytics and research tools, and the company puts client service at the centre of its pitch. Wealthsimple Trade keeps research to the essentials so that buying an ETF takes a few taps. Investors who research individual stocks before buying tend to prefer Qtrade; those who buy the same ETF every month often prefer the simpler app.
Options
Wealthsimple’s options contracts are $0 per contract, while Qtrade charges $0.75. On 20 contracts a month, Qtrade’s charge would be $15.00 a month. The options trading platforms comparison covers exercise and assignment fees across brokers.
US dollars
Wealthsimple publishes a size-based conversion schedule into its USD account; converting $30,000 in one go costs $150 at 0.5%. Qtrade holds US dollars in registered accounts for a quarterly fee. Norbert’s Gambit needs a broker that will journal an interlisted security between its Canadian and US listings, so confirm that with Qtrade, along with its current conversion rate, before a large conversion. How to buy US stocks from Canada compares the routes.
What else comes with the account
Wealthsimple Trade sits beside managed portfolios, a chequing account, crypto and tax filing, and your total Wealthsimple balance sets your tier. Qtrade focuses on investing, and offers mutual funds and fixed income alongside stocks and ETFs.
Which one fits
Qtrade tends to suit investors who want mutual funds and fixed income alongside stocks and ETFs, investors who research individual holdings, and those who value service and analytics.
Wealthsimple Trade tends to suit new investors, monthly ETF buyers who want the simplest app, options traders who want $0 contracts, and people who want investing, banking and crypto with one company.
For the other common Qtrade comparison, see Qtrade vs Questrade, and for Questrade on its own, the Questrade review.
Sources
The figures and rules on this page come from these sources. How we check facts.
- wealthsimple.com: Compare Generation, Premium, and Core Plans & Fees | Wealthsimple