Zero-commission trading has started to pop up all over Canada, and people are trying to figure out which platform actually feels right to use. So this little comparison is meant to make that choice a bit easier by looking at three of the big commission-free players: Wealthsimple, Questrade, and Qtrade.
If you’re already settled in with one of them, the thought of switching might feel like more trouble than it’s worth. But if you’re just getting started, the details here should give you enough to feel confident about picking the brokerage that fits you best.
Wealthsimple vs Questrade vs Qtrade: key differences
Wealthsimple, Questrade, and Qtrade might look similar at first, but once you dig in, you’ll notice some key differences. Knowing them can help you decide which platform fits your goals and style.
Commission structures
All three let you trade stocks and ETFs without paying a commission, which makes things simple. Questrade sometimes adds a small ECN (electronic communication network) fee when you buy certain American stocks, while Wealthsimple and Qtrade don’t. You’ll also pay a currency conversion fee if you move money between CAD and USD on any of these platforms.
Related: Best ETFs in Canada for 2025
Supported securities & markets
You can buy and sell North American stocks and ETFs on all three. Questrade and Qtrade give you more options if you want, as you can invest in bonds, GICs, precious metals, and mutual funds. Wealthsimple doesn’t offer those, but it’s the only platform that lets you buy cryptocurrency, which could be exciting or a bit intimidating, depending on your comfort level.
Trading tools & research
Wealthsimple keeps trading tools simple. You get a real-time chart, a basic watchlist, and a few order types. You can’t link third-party tools, so all your research stays on the platform. Questrade and Qtrade give you more control, with detailed charts, multiple order types, and access to third-party research tools if you want to dig deeper.
Wealthsimple in-depth
Wealthsimple is one of Canada’s most popular online brokerages and keeps growing fast. Here’s what you should know before you start using their zero-commission trading.
What makes Wealthsimple different
Wealthsimple stands out because it is simple and easy to use. Even if you don’t know much about investing, you can quickly figure out how to navigate through your account and make trades. It’s also the only platform among the three that lets you buy cryptocurrency.
Related: Wealthsimple self-directed investing review
Zero commission trading features
You can buy Canadian stocks and ETFs with zero commission. There is no account minimum and you can buy fractional shares. You will pay a 1.5% currency conversion fee if you switch between CAD and USD.
Investment options
Wealthsimple lets you buy Canadian and American stocks, as well as ETFs that include multiple stocks. You can also buy cryptocurrency like Bitcoin. If you want more flexibility, you can hold cash in USD or Canadian accounts, and your interest depends on how much money you have and the Bank of Canada’s policy rate.
Account types available
Wealthsimple offers registered accounts like RRSPs, TFSAs, and FHSAs where income or capital gains are either tax-deferred or tax-free. You can also open taxable accounts, including cash accounts, USD savings accounts, and crypto accounts.
Pros and cons of Wealthsimple
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Wealthsimple: best for new and beginner investors
Wealthsimple works well if you are a newer investor because of the simple interface, fractional shares, and zero account minimum. It also suits long-term investors who buy and hold ETFs, stocks, or cryptocurrency. Day traders or people who want bonds or GICs will find better options on other platforms.
Questrade in-depth
Questrade is another popular online brokerage in Canada. Here’s what you should know about its zero-commission trading and how it compares to Wealthsimple.
What makes Questrade different
Questrade has fees similar to Wealthsimple, but it lets you do more with your investments. You can buy stocks and ETFs like on Wealthsimple, but you can also invest in bonds, GICs, precious metals, and mutual funds. Questrade also provides more tools to help you track your performance, including both first-party and third-party options.
Related: Questrade Review
Zero commission equity trading details
You can trade stocks and ETFs at zero commission on Questrade, and fractional shares are available. You will pay a 1.5% currency conversion fee when moving between CAD and USD. In some situations, Questrade also charges a small ECN fee when you buy American stocks.
Investment options
Questrade lets you buy individual stocks and ETFs, just like Wealthsimple. You won’t find cryptocurrency here, but you can access mutual funds, bonds, GICs, and precious metals, giving you a lot more ways to diversify your portfolio.
Account types available
Questrade offers registered accounts like RRSPs, TFSAs, RESPs, and RHSAs to help you reduce or avoid capital gains taxes. You can also open non-registered accounts, though crypto accounts aren’t available.
Pros and cons of Questrade
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Questrade: best for investors looking to build a diversified portfolio
Questrade works well if you want to build a diversified portfolio across multiple asset types. Long-term, buy-and-hold investors will also find it useful. If you want to invest in crypto, though, you’ll be better off with Wealthsimple.
Qtrade in-depth
Qtrade is another well-known Canadian online brokerage. They recently added commission-free trading for stocks and ETFs in October 2025. Here’s what you should know and how it compares to Wealthsimple and Questrade.
What makes Qtrade different
Qtrade gives you access to a wide range of assets. You can buy stocks, ETFs, GICs, bonds, mutual funds, and precious metals. Qtrade is similar to Questrade in that it offers multiple asset types and tools to help you track and manage your investments. Unlike Wealthsimple and Questrade, Qtrade does not offer fractional shares.
Related: Qtrade Review
Zero commission trading & fee structure
Qtrade started offering zero-commission trading for stocks and ETFs on October 28, 2025. They charge a variable currency conversion fee when moving money between CAD and USD. You cannot buy fractional shares on Qtrade, unlike the other two platforms, so you'll need more money to start trading as opposed to Wealthsimple and Questrade.
Investment options & market access
Qtrade gives you the same broad set of investment options as Questrade. You can buy individual stocks, ETFs, mutual funds, GICs, bonds, and precious metals. Cryptocurrency is not available on Qtrade, which makes it different from Wealthsimple.
Account types available
Qtrade offers many registered accounts, including TFSAs, RRSPs, FHSAs, RESPs, LIRAs, and RIFs. They also offer non-registered taxable accounts, including cash accounts.
Pros and cons of Qtrade
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Qtrade: Best for investors with larger capital who want access to a wide variety of assets
Qtrade works well if you want to build a diversified portfolio with multiple asset types. Beginner investors with limited funds may find fractional shares useful, so they might prefer another platform. If you want to invest in cryptocurrency, Qtrade is not the right choice.
Zero trade platform comparison
The table below gives a quick overview of the features of Wealthsimple, Questrade, and Qtrade:
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|---|---|---|---|
| Account | Questrade | Qtrade | Wealthsimple Self-Directed Investing |
| Genius Rating | |||
| Why You Want It | $50 bonus for funding a new account, and $0 commissions on stocks & ETFs |  $80 GeniusCash + Ditch the fees, and trade unlimited Stocks, ETFs, Mutual Funds and more for $0 | No commission, maintenance or withdrawal fees + Easy to use. |
| Types Of Accounts |
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| Types Of Investments |
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| Minimum Investment | $0 | $0 | $$1 |
| Email Support |  | |  |
| Live Chat Support | | | |
Show More | |||
| Open an account See more Questrade products Compare | I Want This Deal See more Qtrade products Compare | Open an account See more Wealthsimple products Compare |
Switching between platforms: what you should know
Now that you know the basics of Wealthsimple, Questrade, and Qtrade, you might be thinking about switching from one to another. Here’s what you need to know.
Account transfer process
Transferring your account depends on the brokerage, but the steps are similar. First, decide whether you want an in-kind or a cash transfer. An in-kind transfer moves your existing assets directly to the new brokerage without selling them. A cash transfer sells your assets first and then moves the cash over.
You will need to provide the new brokerage with your account type, account number, and any other information they need about your current brokerage. Make sure you transfer into the same type of account. For example, if you are moving assets from a TFSA, transfer them into a TFSA at the new brokerage.
Potential fees & timelines
Wealthsimple does not charge fees to transfer your account. Questrade and Qtrade each charge $150 for full or partial transfers. All three brokerages may cover transfer fees up to $150, so you might not have to pay anything. Keep in mind that moving money between CAD and USD can create a currency conversion fee.
Transfers usually take 2 to 4 weeks, but some accounts can take up to 8 weeks. Make sure you track the progress and contact the brokerages if anything seems off.
Tax implications when transferring
If you do an in-kind transfer of full shares of stocks or ETFs, you will not trigger any capital gains taxes. Fractional shares cannot be transferred in-kind, so you will have to sell them and pay any applicable taxes. Bonds, mutual funds, GICs, and precious metals also must be sold before transferring, which can create tax consequences.
Your account type can help reduce or avoid taxes. Gains in an RRSP are deferred until retirement. Gains in TFSAs and FHSAs are completely tax-free, so you can sell assets and move them without worrying about taxes.
Frequently asked questions
Does Canada have commission-free trading?
Yes, you can trade in specific securities without paying commissions in Canada. Wealthsimple, Questrade, and Qtrade all offer this feature. Wealthsimple was the first to introduce zero commission trading in 2019. Questrade followed in February 2025, and Qtrade started in October 2025.
What are zero commission trades?
Zero commission trades let you buy or sell stocks and ETFs without paying a fee. In the past, brokerages charged high fees, sometimes $50 to $100 per trade. Online trading started lowering these fees in the late 1990s and early 2000s. Wealthsimple became the first platform in Canada to remove commissions entirely in 2019.
Who offers zero commission trading?
Wealthsimple, Questrade, and Qtrade offer commission-free trading on all stocks and ETFs. National Bank Direct Brokerage also recently added commission-free trading. RBC Direct Investing offers zero commission trading on 50 ETFs.
How do zero commission trades work?
Before online trading, you had to visit a brokerage and pay brokers fees for helping you buy assets. Online brokerages automate most of this process, which removes the traditional trading fees. They still make money in other ways, like currency conversion fees, premium subscriptions, and interest on cash sitting in your account.
Is a zero commission trading platform really free?
You can trade stocks and ETFs without paying commissions, but you may face fees elsewhere. Currency conversion fees apply when you move money between CAD and USD, which affects American stocks. Some brokerages also charge a small ECN fee when you buy certain stocks. Platforms may also offer premium subscriptions for extra tools, which come with a monthly fee.
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