DECISION MATRIX
Analyzing 10 Key Vectors
< Capital < $1,000? >
- Wealthsimple Trade No minimum. Start with $1.
- Questrade Minimum $1,000 required.
< Low-cost Portfolio? >
- Wealthsimple Trade Commission-free ETFs (CAD).
- Questrade Free to buy, commission to sell.
< Canadian Stocks? >
- Wealthsimple Trade 100% Commission-free.
- Questrade $4.95-$9.95 per trade.
< US Trades > $500? >
- Wealthsimple Trade 1.5% FX fee (3% round trip).
- Questrade USD accounts available. Lower friction.
< US Trades < $500? >
- Wealthsimple Trade FX fees apply, but zero commission.
- Questrade Commissions may outweigh FX savings.
< Platform Preference? >
- Wealthsimple Trade Mobile-first + Web.
- Questrade Desktop-centric Web interface.
< Margin / Options? >
- Wealthsimple Trade Basic. No margin/options.
- Questrade Full suite: Margin, Options, Bonds.
< Inactivity Fees? >
- Questrade Inactivity fee discontinued.
- Wealthsimple No hidden fees.
< System Constraints? >
- Wealthsimple No corporate accounts. Delayed quotes.
- Questrade Complex fee structure.
< Welcome Bonus? >
- Wealthsimple Trade Stock rewards via referral.
- Questrade Trade coupons.
DATA COMPARISON MATRIX
| Feature |
Wealthsimple Trade |
Questrade |
| Account Minimum | $0 (Start with $1) | $1,000 |
| Asset Classes | Stocks & ETFs | Stocks, ETFs, Options, Bonds |
| US Strategy | Best for <$500 | Best for >$500 |
| Account Types | Personal, RRSP, TFSA | All (incl. Corp, Margin) |
| Commissions | $0 (CAD Stocks/ETFs) | Buy Free / Sell $4.95+ |
| Platform | Mobile App + Web | Web Only |
| Advanced | Basic Only | Full Suite |
| DRIP | CAD Only | Supported |
| FX Fee | 1.5% | Keep USD (Lower Fees) |
| Bonus | Stock Rewards | $50 Coupons |