Wealthsimple vs TD Ameritrade
Wealthsimple Review 2023 | TD Ameritrade Review 2023 |
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3.1
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4
TD Ameritrade is #36 in our broker rankings. |
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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. |
TD Ameritrade is a leading discount brokerage offering a vast range of instruments including forex, stocks, futures, options and crypto. The company has nearly 40 years of experience and authorization from the SEC, FINRA and CFTC. Trading takes place via its well-known thinkorswim platform, which offers sophisticated tools and features including stock screeners and calculators. |
Comment by Reviewer | |
"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." | "Traders who want access to a huge range of stocks from a reputable broker with low fees should consider TD Ameritrade. On the downside, we miss access to the familiar MetaTrader 4 software." |
Pros | |
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Cons | |
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Awards | |
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Instruments | |
Stocks, ETFs, Cryptocurrencies | Stocks, Futures, E-minis, Options, Forex, Crypto, ETFs, Volatility Index |
Demo Account | |
No | Yes |
Minimum Deposit | |
$1 | $0 |
Trading Platforms | |
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Payment Methods | |
Minimum Trade | |
$1 | $0 |
Regulator | |
CIRO | SEC, FINRA, CFTC |
Margin Trading | |
No | Yes |
STP Account | |
No | No |
ECN Account | |
No | No |
DMA Account | |
No | Yes |
MAM Account | |
No | Yes |
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 | No |
Mobile Apps | |
iOS & Android | iOS & Android |
Auto Trading | |
Yes via robo advisor | Yes - Auto trading available via bots |
Copy Trading | |
No | No |
Social Trading | |
No | No |
Trade Signals | |
Yes | |
VPS Hosting | |
No | No |
Tournaments | |
No | No |
Demo Competitions | |
No | No |
Ethical Investing | |
Yes | Yes |
Custodial Account | |
No | Yes |
Guaranteed Stop Loss | |
No | No |
Inactivity Fee | |
$0 | |
Islamic Account | |
Yes | No |
Account Currencies | |
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Stock Exchanges | |
Commodities | |
Forex Trading | |
Forex trading not offered | Trade 70+ forex pairs including majors, minors or exotics via the desktop, mobile or webtrader app with no commission and 1:2 leverage. The choice of currencies is wider than most forex brokers. |
Forex App | |
TD Ameritrade offers currency trading via Android and iOS mobile and tablet apps. Users can speculate on over 75 currency pairs with low fees and advanced trading tools. Deposit funds and manage accounts in a few clicks. |
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GBPUSD Spread | |
Variable | |
EURUSD Spread | |
Variable | |
EURGBP Spread | |
Variable | |
Assets | |
75+ | |
Cryptocurrency | |
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. | Gain exposure to cryptocurrency markets through OTC crypto trusts, mutual funds and ETFs and Bitcoin futures. This offers portfolio diversification opportunities and trading vehicles beyond standard crypto CFDs. |
Spread | |
1.5 – 2% operational fee | Commission fees apply |
Coins | |
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Crypto Lending | |
No | No |
Crypto Mining | |
No | No |
Crypto Staking | |
No | No |
Auto Market Maker | |
No | No |
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