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
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.
