Questrade, Wealthsimple and Interactive Brokers are three non-bank brokers that many Canadian self-directed investors shortlist. Rather than rank them, this page takes three common kinds of investor and shows what each broker costs and offers for that profile. For two-way detail, see the pair comparisons linked at the end; for the full market, see the online broker comparison.
The three at a glance
Fees are from each broker’s pricing page as of September 2026.
| Wealthsimple | Questrade | Interactive Brokers (Pro Fixed) | |
|---|---|---|---|
| Canadian stock and ETF trades | $0 | $0 | $0.01/share, $1.00 minimum |
| US stock and ETF trades | $0 | $0 | US$0.005/share, US$1.00 minimum |
| Standard currency conversion | 1.5% from a CAD account | 1.5% | 0.20 bps, US$2.00 minimum |
| Alternative conversion route | USD account, 0% only from $100,000 converted at once | Norbert’s Gambit, $9.95 journaling | Not needed |
| Equity options | $0/contract | $0 per contract on all US equity options; Canadian options $0.99/contract | Per-contract fee |
| Margin | Yes | Yes | Yes |
| Robo-advisor | Managed investing, 0.5% (Core) | Questwealth, 0.25% | None |
| Also offers | Chequing, crypto, futures (US$1 per contract), tax filing | Bonds, GICs, mutual funds, precious metals | Futures, bonds, international markets |
Profile 1: buying a Canadian ETF every month
The trades are small and frequent and there is no currency conversion. Wealthsimple and Questrade both charge $0 per trade. At Interactive Brokers, each small purchase falls under the $1.00 minimum, or $12.00 a year. Beyond price, what separates Wealthsimple and Questrade for this investor is the app, automatic investing features and which other products you want alongside; Wealthsimple vs Questrade compares those.
Profile 2: building a US-stock portfolio
A one-time $50,000 conversion to buy US-listed ETFs costs:
| Route | Conversion cost |
|---|---|
| Wealthsimple, US trade from a CAD account | $750 |
| Wealthsimple, converted into the USD account | $250 |
| Questrade, standard conversion | $750 |
| Questrade, Norbert’s Gambit | $9.95 plus the bid-ask spread |
| Interactive Brokers | $1.00 at 0.20 bps, so the US$2.00 minimum applies |
Account location matters as much as the broker for this investor: US dividends in an RRSP are generally exempt from US withholding tax, while a TFSA loses 15%. How to buy US stocks from Canada covers both questions.
Profile 3: active trading
A frequent trader cares about order types, data, options pricing and platform speed as much as commissions. Questrade combines $0 stock trades with $0 per contract on all US equity options and its Questrade Pro platform; Interactive Brokers adds per-share pricing, international markets and an API; Wealthsimple offers $0 options contracts, futures (US$1 per contract) and margin in a simpler app. Frequent traders should also read day trading in Canada, since the CRA may tax the gains as business income.
Summary
| If you are… | Look first at |
|---|---|
| A new or monthly ETF investor | Wealthsimple or Questrade |
| Converting large amounts to US dollars | Interactive Brokers, or Questrade with Norbert’s Gambit |
| Wanting investing, chequing and crypto with one company | Wealthsimple |
| Wanting bonds, GICs and mutual funds alongside stocks | Questrade |
| Trading international markets | Interactive Brokers |
Pair comparisons: Wealthsimple vs Questrade, Questrade vs Interactive Brokers and Wealthsimple vs Interactive Brokers.
Sources
The figures and rules on this page come from these sources, last checked against them on September 23, 2026. How we check facts.
- Department of Finance Canada: Convention between Canada and the United States of America with Respect to Taxes onβ¦
- interactivebrokers.ca: Commissions Stocks | Interactive Brokers Canada Inc.
- interactivebrokers.ca: Commissions Spot Currencies | Interactive Brokers Canada Inc.
- questrade.com: Trading Fees & Commissions | Questrade Pricing | Questrade: Tilt finance in your favour
- questrade.com: Transaction fees | Self-directed Pricing | Questrade
- questrade.com: Questwealth Portfolios | Questrade
- wealthsimple.com: Compare Generation, Premium, and Core Plans & Fees | Wealthsimple