Wealthsimple vs Questrade vs CIBC Investors Edge: Broker Comparison

If you want the broader shortlist before comparing these brokers directly, start with best online brokers in Canada and best trading platforms in Canada.

Choosing the right brokerage matters. Here is a detailed comparison of Canada’s three most popular options for self-directed investors.

Quick comparison

Trading costs breakdown

Buying Canadian ETFs (e.g., XEQT)

Buying US stocks (e.g., Apple)

Wealthsimple’s 1.5% currency conversion fee makes US stock trading expensive on the basic plan. Wealthsimple Premium (requires $100K+ or $10/month subscription) eliminates this fee. Questrade allows Norbert’s Gambit to convert currency cheaply. That matters most alongside best account type for US stocks and ETFs in Canada and Norbert’s Gambit.

Best for different investors

Choose Wealthsimple if:

• You primarily buy Canadian ETFs (XEQT, VGRO, etc.)
• You want fractional shares and a dead-simple app
• You are a beginner investor
• You want to trade crypto alongside stocks
• Your portfolio is under $100,000

If that is your path, pair the broker choice with best all-in-one ETFs in Canada and how to buy ETFs in Canada.

Choose Questrade if:

• You buy US stocks or US-listed ETFs regularly
• You want to use Norbert’s Gambit for cheap currency conversion
• You need advanced charting and research tools
• You want a USD account to hold US dollars
• You value lower-cost US trading

Choose CIBC Investors Edge if:

• You already bank with CIBC and want everything in one place
• You prefer a big-bank brokerage with branch support
• You buy commission-free ETFs from their select list
• You hold a large RRSP or RRIF at CIBC

Account fees

The bottom line

For most Canadians building a long-term portfolio of Canadian ETFs, Wealthsimple is the best starting point — zero fees, fractional shares, and the simplest experience. As your portfolio grows and you need US stock access or advanced tools, Questrade becomes more attractive. CIBC Investors Edge works well for CIBC customers who want integrated banking and investing. If you are deciding between DIY and managed investing rather than between brokers, compare best robo-advisors in Canada and robo-advisor vs ETF portfolio in Canada.

To learn how to open an account and buy your first ETF, see our step-by-step investing guide.

Customer service and account opening

A practical consideration often overlooked in brokerage comparisons:

Both brokerages are CIRO members and CIPF-protected. For first-time investors, Wealthsimple’s faster onboarding and simpler interface is a meaningful advantage. Questrade rewards investors who trade US securities regularly with lower FX costs via Norbert’s Gambit.

Who should choose Wealthsimple

• First-time investors or those who want the simplest possible experience
• Investors whose portfolio is primarily Canadian ETFs (XEQT, VEQT, etc.) in a TFSA
• Crypto investors who want a single platform for stocks and crypto
• Investors under Wealthsimple Premium ($100K+ assets) who get 0% FX fees

Who should choose Questrade

• Investors who regularly buy US-listed ETFs (VOO, VTI) in an RRSP
• Investors willing to use Norbert’s Gambit for large USD conversions
• Active traders who want access to options, bonds, and more advanced order types
• Investors who prefer lower commissions when selling ETFs ($4.95–$9.95 vs Wealthsimple’s $0)

Related Reading

• Best Account Type for US Stocks and ETFs in Canada: Asset Location Guide
• Questrade vs Interactive Brokers Canada 2026 | Comparison
• Wealthsimple vs CI Direct Investing 2026: Robo-Advisor Comparison for Canadians