Qtrade vs Wealthsimple

Qtrade vs Wealthsimple Comparison Table 2024
Qtrade Wealthsimple
3.6
3.1
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

Qtrade is an award-winning Canadian financial services firm that offers a selection of investing accounts with $8.75 and $6.95 stocks, mutual fund trades and 100+ commission-free ETFs. This is a long-running brand that is well regarded in Canada, where many investors choose it to build their savings account or pension pot. QTrade is also highly trusted and authorized by the Canadian Investment Regulatory Organization (CIRO).

Wealthsimple offers managed investment portfolios to Canadian residents. Clients can build a trading solution based on their financial goals and risk tolerance. Buy and sell stocks, ETFs, and cryptocurrencies. 2 million+ accounts have already been opened.

Bonus Offer
$50 Sign up, and $2000 Cashback offer
Comment by Reviewer
"Qtrade is a good match for Canadian traders who are looking for a reputable and regulated broker to make longer-term investments as well as leveraged trades." "Canadian traders looking for passive income opportunities will be well served by Wealthsimple. The quick and easy joining process also means you can sign up and start trading in a few minutes."
Pros
  • One of the best investment platforms on offer in Canada
  • Easy to use and award winning platform and customer experience
  • Good range of US and Canadian stocks as well as funds, ETFs and other assets
  • Offers a range of accounts to suit standard investments or various types of pension
  • Simple investor/member login process
  • Trailing stop loss risk management tool
  • 100+ commission-free ETFs
  • No deposit or withdrawal fees
  • Simple and secure onboarding process through an intuitive and well-reviewed mobile app - start investing in 5 minutes
  • Trade stocks from as little as $1 with zero commissions, plus Canadian fractional shares including Shopify and Royal Bank of Canada
  • Attractive perks available for Premium and Generation clients, including airport lounge access, 15% off your will, and health plans
  • Trade and stake digital coins on Canada's first regulated crypto platform and earn decent rewards of up to 4.6% per year
  • Accessible educational resources, including Personal Finance 101 and an engaging proprietary online magazine
  • Options trading available with flat $2 per contract pricing using any of the stocks and ETFs accounts
Cons
  • Transfer out fee
  • CAD to USD exchange charge
  • Commissions of $8.75 per equity can stack up
  • Limited funding options and no credit/debit card deposits
  • Only available to residents of Canada. So if you are residents of Dubai, the UK or Lebanon, you will not be eligible
  • Only Canadian residents can join after operations ceased in the USA and the UK
  • Limited to investing only in stocks, ETFs and cryptos
  • High management fees compared to competition
  • Long waiting time for non-instant deposits
Awards
  • 30 industry awards across 15 years
  • Best Financial Services Website - Webby Awards
  • Top 100 Global Financial Technology Companies - Fintech 100
Instruments
Stocks, ETFs, Bonds, Mutual Funds, Options, GICs Stocks, ETFs, Cryptocurrencies
Demo Account
Yes No
Minimum Deposit
$0 $1
Trading Platforms
  • TradingCentral
  • Own
Payment Methods
Minimum Trade
Variable $1
Regulator
CIRO CIRO
Margin Trading
Yes No
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
Yes Yes
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android iOS & Android
Auto Trading
Yes via robo advisor
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No Yes
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
No Yes
Account Currencies
  • USD
  • CAD
  • USD
  • CAD
Stock Exchanges
Commodities
Cryptocurrency
Crypto trading not offered Trade 50+ cryptocurrencies including Bitcoin and Ethereum with a competitive 1.5-2% fee per transaction. Investors also enjoy fast crypto transfers to and from Wealthsimple.
Spread
1.5 – 2% operational fee
Coins
  • ZRX
  • 1INCH
  • AAVE
  • APE
  • AMP
  • ANKR
  • AVAX
  • AXS
  • BAL
  • BNT
  • BAND
  • BAT
  • BTC
  • BCH
  • ADA
  • CTSI
  • CELO
  • LINK
  • CHZ
  • CHR
  • COMP
  • ATOM
  • COTI
  • CRV
  • DAI
  • MANA
  • DOGE
  • DYDX
  • ENJ
  • ETH
  • FTM
  • FIL
  • GALA
  • GRT
  • KNC
  • LTC
  • LRC
  • LUNC
  • MKR
  • PAXG
  • DOT
  • MATIC
  • QNT
  • REN
  • SAND
  • SHIB
  • SKL
  • SOL
  • XLM
  • STORJ
  • SUSHI
  • SNX
  • XTZ
  • UMA
  • UNI
  • USDC
  • YFI
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
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