Investing · Comparison
Questrade vs Wealthsimple vs Qtrade
Canada’s three favourite independent brokers now all charge $0 on stocks and ETFs — Qtrade joined the club in 2026 — and all three hold every retirement account, RRIF included. So the comparison everyone still searches has new answers: it comes down to options pricing, US-dollar handling, managed-money fees, and service. Every figure verified at the source.
Questrade
The investing specialist — since 1999, bank licence approved
- Free USD in registered accounts — the clean Norbert’s Gambit
- Questwealth managed money at 0.20–0.25% — half WS’s fee
- Real-time fractional shares, full registered lineup with RRIF and LIRA
- Up to $300 cash (GET300) — ends Jun 22, 2026
Wealthsimple
Spend, save, trade, borrow, file taxes — one login
- $0 options — no contract fees, alone in Canada
- Chequing at 1.25–2.25%, 2% cash-back card, tax filing
- Tiers reward consolidation: free USD accounts at $100k
- 1% transfer match on $25k+ — ends Sep 15, 2026
Qtrade
The award-winner, newly commission-free — Aviso (credit-union) owned
- $0 stocks, ETFs and mutual funds — the 2026 price cut
- Years of best-broker service/usability awards
- Options at $0.75/contract, no base; free DRIPs
- $100 on $1,000 invested (SPRING26)
Three ways, 11 factors
| Factor | Questrade | Wealthsimple | Qtrade |
|---|---|---|---|
| Stocks & ETFs | $0, Canadian and US | $0, Canadian and US | $0 — and mutual funds too (newly commission-free in 2026) |
| Options | $0.99/contract with volume rebates | $0 — no commission, no contract fee (alone in Canada) | $0.75/contract, no base commission |
| US dollars & FX | 1.5% conversion, but USD held FREE in registered accounts — Norbert’s Gambit works cleanly | 1.5% on CAD accounts; USD account $10/mo (free at $100k tiers); 0% conversion over $100k | USD-side registered accounts cost US$15/quarter each |
| Managed-money option | Questwealth at 0.20–0.25% with published MERs — the cheapest managed money in Canada | WS Managed at 0.4–0.5%; $0 minimum, SRI and halal portfolios | Guided Portfolios exist — not verified this pass, so no figures quoted |
| Registered accounts | TFSA, RRSP, RRIF, FHSA, RESP, LIRA — the full suite | TFSA, RRSP, RRIF, FHSA, RESP, LIRA, LIF | TFSA, RRSP, RRIF, FHSA, RESP, LIRA, LIF |
| Account fees | $0 — no maintenance or inactivity fees | $0 — no maintenance or inactivity fees | No quarterly admin fee on the current schedule |
| Fractional shares & DRIP | Real-time fractional trading, commission-free | Fractional trading and fractional DRIP, in-app | No fractional shares — free conventional DRIPs instead |
| Service reputation | Solid support; no dedicated advisor | App-first support; human help thin below top tiers | The perennial service and usability award-winner — its calling card for years |
| Beyond investing | Investing-pure today; OSFI-approved bank expected | Chequing (1.25–2.25%), 2% cash-back card, mortgages, crypto, tax filing | Backed by Aviso — the credit-union system’s wealth arm |
| Current offer | Up to $300 cash (GET300) — ends Jun 22, 2026 | 1% transfer match on $25,000+ — ends Sep 15, 2026 | $100 cash on $1,000 invested (SPRING26) |
| Protection | CIRO dealer, CIPF member | CIRO dealer, CIPF member | CIRO dealer, CIPF member |
Verified at all three brokers’ own pricing pages on June 10, 2026. Offers rotate — confirm before opening. Deeper two-way: Wealthsimple vs Questrade · full field: all 13 brokers.
The 2026 convergence changed the question
For a decade this comparison was about price: Questrade cheap, Wealthsimple free, Qtrade premium. That’s over — Qtrade dropped to $0 on stocks, ETFs and even mutual funds in 2026, Questrade went to zero in 2025, and all three now offer the complete registered lineup with no account fees. When the table shows this many ties, the decision moves to the edges: what you trade, how much USD you hold, whether you want money managed, and how much you value a human answering the phone.
Where the dollars actually differ
Three gaps survive the convergence. Options: Wealthsimple charges literally nothing; Qtrade’s $0.75 and Questrade’s $0.99 per contract are cheap but not free — a 100-contract-a-year trader saves ~$75–$99 at WS. US dollars: Questrade holds USD in registered accounts at no charge; Qtrade bills US$15/quarter per account for the same privilege (US$60/year per RRIF — real money on a dividend portfolio); Wealthsimple wants $10/month or a $100k tier. Managed money: Questwealth at 0.20–0.25% is roughly half Wealthsimple Managed at every tier that matters — the biggest dollar gap on this page, detailed in our two-way. Qtrade’s Guided Portfolios weren’t verified this pass, so we quote nothing for them.
The service wildcard
Qtrade’s case was never price — it was that things work and people answer: years of first-place finishes in service and usability rankings, the kind of operational patience that matters when you’re moving a six-figure RRIF or untangling an estate. Its owner is Aviso Wealth, the credit-union system’s national wealth platform — a different institutional personality than a fintech or a discount pioneer. Now that its pricing matches the other two, “the award-winner at $0” is a genuinely new value proposition — the catch being the US$15/quarter USD-account fee and no fractional shares. See the full Qtrade review for the complete schedule.
So which should you pick?
- US-dividend investor or RRIF holder with USD? Questrade — free USD registered sides beat both rivals’ workarounds.
- Trade options at all? Wealthsimple — $0 beats cheap, every single trade.
- Want money managed at the lowest fee? Questrade (Questwealth) — half price, published MERs.
- Consolidating your whole financial life? Wealthsimple — chequing, card, mortgage, taxes, one app.
- Value service above all — or already bank with a credit union? Qtrade — the award pedigree finally comes at $0.
- Chasing bonuses? Small account: Qtrade’s easy $100. Big transfer: WS’s 1% match. Quick cash before Jun 22: Questrade’s $300.
Retiree lens instead?
All 13 brokers re-ranked on the RRIF test, USD-dividend economics and withdrawal fees.
Frequently asked questions
Questrade vs Wealthsimple vs Qtrade — which is best?
All three charge $0 on stocks and ETFs and hold every retirement account including RRIFs, so the answer is the tiebreakers. Questrade wins on US-dollar handling (free USD in registered accounts) and managed money (Questwealth at half Wealthsimple’s fee). Wealthsimple wins for options traders ($0 contracts) and anyone consolidating banking + investing + taxes in one app. Qtrade wins on service — years of best-in-class awards — now that its old price disadvantage is gone. There is no wrong pick here; there are wrong pairings of investor and platform.
Is Qtrade really commission-free now?
Yes — verified at Qtrade’s own pricing page: $0 on stocks, ETFs and mutual funds, with the old $8.75 rate retired in 2026, and no quarterly admin fee on the current schedule. Options cost $0.75/contract with no base commission. The fee that remains worth knowing: USD-side registered accounts run US$15/quarter each — the one place Questrade is clearly cheaper for US-dividend investors.
Which should a retiree pick of the three?
All three hold RRIFs and LIRAs, so structure doesn’t decide it. A retiree holding US dividend payers should lean Questrade — USD sits free inside the RRIF instead of costing US$60/year per account (Qtrade) or requiring a $100k tier (Wealthsimple). A retiree who wants managed drawdown at the lowest fee takes Questwealth. A retiree who values reachable, patient service — phone calls that get answered, transfers that get shepherded — is exactly who Qtrade has been winning awards with. Our retiree broker ranking scores the whole field on these axes.
Are all three equally safe?
Equivalently protected, yes: each is a CIRO-regulated investment dealer and CIPF member — up to $1M per account category if the firm fails, never against market losses. Pedigrees differ without changing the math: Questrade has run since 1999 and holds OSFI approval to launch a bank; Wealthsimple manages tens of billions; Qtrade is owned by Aviso Wealth, the credit-union system’s national wealth platform.
What about the welcome offers?
As of this writing: Questrade pays up to $300 (code GET300) but the clock is short — it ends June 22, 2026. Wealthsimple’s 1% transfer match on $25,000+ runs to September 15, 2026, paid over 24 months. Qtrade’s SPRING26 pays $100 on $1,000 invested. For large transfers the 1% match dominates ($1,000 on $100k moved); for small accounts Qtrade’s $100 on $1,000 is the easiest money. All three rebate your old broker’s transfer-out fee within limits. Our offer tracker stays current.
How current is this comparison?
Every figure verified at the three brokers’ own pricing pages on June 10, 2026. Qtrade’s Guided Portfolios (managed product) weren’t verified that pass, so this page quotes no figures for them — the verified managed comparison is Questwealth vs Wealthsimple Managed, covered in depth in our two-way head-to-head. Offers rotate; confirm on the broker’s page before opening. See our methodology.
This page is for educational purposes only and is not investment advice. Commissions, fees, minimums and offers change without notice; everything here was verified at the three companies’ own pricing pages on June 10, 2026. Qtrade’s managed product is deliberately not quoted — unverified figures don’t appear on this site. CIPF protects against member-firm insolvency, never market losses. See our methodology.