Wealthsimple vs Questrade vs IBKR (2026 Comparison)
3 min read
Feature Comparison Matrix
| Feature | WWealthsimple | QQuestrade | IBIBKR Canada |
|---|
Cost Simulation: USD Stock Purchase
Comparing the true cost of buying $10,000 USD worth of US stock (approx $13,635 CAD) including FX conversion fees.
Frequently Asked Questions
Wealthsimple vs Questrade for TFSA?
For a TFSA, Wealthsimple is best if you only buy Canadian stocks and ETFs, as trades are free. Questrade is better if you buy US stocks or options, as you can hold USD directly without forced conversion fees on every trade.
Which is the best broker in Canada?
The best broker in Canada depends on your needs: Wealthsimple for beginners and CAD-only investors, Interactive Brokers (IBKR) for active traders and margin users, and Questrade as a middle ground for passive ETF investors holding USD.
Wealthsimple vs Interactive Brokers?
Wealthsimple is completely free for Canadian stocks but charges a hefty 1.5% FX fee on US trades (unless paying for premium). Interactive Brokers is cheaper overall for active traders due to extremely low commissions and the lowest FX rates (0.002%).
Do Questrade or IBKR have fractional shares?
Interactive Brokers supports fractional shares for most US and European stocks. Questrade does not currently offer fractional shares. Wealthsimple offers fractional shares on select popular US and Canadian stocks.
Who has the lowest margin rates in Canada?
Interactive Brokers has the lowest margin rates in Canada by a significant margin, typically around 6-7% depending on the benchmark, compared to Questrade's 7-8%. Wealthsimple does not offer traditional margin accounts.
Methodology & Data Sources
Data was gathered directly from the official fee schedules of Wealthsimple, Questrade, and Interactive Brokers Canada as of early 2026. "True cost" simulations account for base commissions plus published foreign exchange markup spreads. Promotional offers or temporary fee waivers are excluded from the core comparison. Interactive Brokers pricing reflects their tiered/pro structure typical for active Canadian clients.