Wealthsimple and Interactive Brokers sit at opposite ends of Canadian investing: one is an app built to make investing simple, the other a global broker built for active and professional traders. The cost comparison between them turns almost entirely on how much you invest in US-listed securities. This page compares the two directly; the online broker comparison covers the wider market.
Side by side
Fees are from each broker’s pricing page as of September 2026.
| Wealthsimple | Interactive Brokers (Pro Fixed) | |
|---|---|---|
| Canadian stocks and ETFs | $0 | $0.01 per share, $1.00 minimum |
| US stocks and ETFs | $0 | US$0.005 per share, US$1.00 minimum |
| Currency conversion | 1.5% from a CAD account; 1.5% down to 0% into a USD account, by size | 0.20 basis points, US$2.00 minimum |
| USD account | $10/month at Core; included at Premium and Generation | Holds multiple currencies; convert at the rate above |
| Options | $0 per contract | Per-contract fee |
| Margin | Yes | Yes |
| Other products | Crypto, futures, managed portfolios, chequing account | Futures, bonds, currencies, international exchanges |
| Registered accounts | TFSA, RRSP, spousal RRSP, FHSA, RESP, RRIF, LIRA | TFSA, RRSP, FHSA, RRIF listed for individuals |
Worked examples
$500 a month into a Canadian ETF
Wealthsimple: $0 a trade. Interactive Brokers: a purchase of a few dozen shares falls under the $1.00 minimum, so $12.00 a year. Wealthsimple is cheaper here, and the gap is small either way.
A single $20,000 purchase of US stocks
| Route | Conversion cost |
|---|---|
| Wealthsimple, from a CAD account | $300 |
| Wealthsimple, converted into the USD account first | $200 |
| Interactive Brokers | About US$2.00 (the minimum applies) |
Selling later and bringing the money back to Canadian dollars is another conversion at each broker. For investors who move money between currencies often, that repeat cost is the main reason to use IBKR. How to buy US stocks from Canada sets out the alternatives, including Canadian-listed ETFs that hold US stocks with no conversion at all.
Ease of use
Wealthsimple is built around a simple app aimed at first-time investors, and keeps its interface deliberately uncluttered. Interactive Brokers asks more questions when you apply, and its platforms (Trader Workstation, a web portal and a mobile app) offer far more tools, order types and data, which experienced traders value and beginners can find overwhelming.
Which one fits
Wealthsimple tends to suit new investors, people buying Canadian-listed ETFs on a schedule, those who want managed portfolios, crypto or a chequing account from the same company, and anyone who needs an RESP or LIRA.
Interactive Brokers tends to suit investors who convert currency frequently or in large amounts, active traders, and anyone who wants international markets.
Some investors hold both: registered accounts of Canadian ETFs at Wealthsimple, and a US-dollar or trading account at IBKR. If Questrade is on your list too, see the three-way Questrade vs Wealthsimple vs Interactive Brokers comparison.
Sources
The figures and rules on this page come from these sources. How we check facts.
- interactivebrokers.ca: Commissions Stocks | Interactive Brokers Canada Inc.
- interactivebrokers.ca: Commissions Spot Currencies | Interactive Brokers Canada Inc.
- wealthsimple.com: Compare Generation, Premium, and Core Plans & Fees | Wealthsimple