TWO PLATFORMS · THE COSTS THAT MATTER

Wealthsimple vs Questrade: look beyond $0.

Both offer commission-free online stock and ETF trades. Your currency habits can make the comparison much more interesting.

By BiowittPricing checked September 19, 20265 minute read

Link disclosure: Biowitt or its owner may receive compensation from labelled referral or affiliate links. Payment does not determine comparison order or conclusions. How we make money.

THE QUICK TAKE

Start with the currency you will actually use.

For a Canadian-dollar ETF portfolio, first compare account charges and the workflow you need. For U.S. investing, compare the cost of converting money and keeping USD between trades. Neither a free trade nor a familiar brand answers both questions.

Jump to fee differences ↓Try your own numbers →See four platforms →

PUBLISHED PRICING

The differences at a glance

Self-directed accounts. Special trades, taxes and other service charges may apply.

Cost to check	Wealthsimple	Questrade
Online stock / ETF commissions	$0	$0
USD balances	Published USD-account charge: $10/month + tax; check waivers	Dual-currency balances included in base plan
Currency conversion	1.5% for U.S. trades in CAD accounts; amount-based cash-conversion tiers for USD accounts	Conversion costs can apply; check the current quote
Online journaling	$9.95 per request	$9.95 per request on the base plan; optional plans differ

Journaling moves eligible securities between currency sides; it is not the same as a simple cash conversion. It can involve settlement, price and execution considerations.

Wealthsimple fee schedule ↗Questrade pricing ↗

MAKE THE TRADEOFF CONCRETE

Three situations to think through

These are cost questions, not personalized recommendations.

“I buy Canadian-listed ETFs.”

When both headline commissions are zero, compare the parts you will use every month: eligible recurring orders, minimum order sizes, the accounts offered and how you get help. Check the ETF’s own expenses separately.

Ask: will my ordinary routine trigger any extra fees?

“I buy U.S. shares with CAD.”

Write down the total amount you expect to convert, including any conversion back to CAD. In a simplified example, a 1.5% charge on $12,000 is $180 before any separate spread. Repeating a conversion can matter more than a trading commission.

Ask: how often will my money cross currencies?

“I already have U.S. dollars.”

Compare funding methods, keeping USD after sales, recurring account charges and applicable waivers. A USD balance and a free CAD–USD exchange are different features. Do not assume one includes the other.

Ask: can I fund, hold and withdraw USD as intended?

TURN THE QUESTION INTO A NUMBER

What would the fees cost you?

Use your expected orders and currency conversions. Replace the sample fees with each provider’s current quote.

Calculate yearly costs →

CHECK BEFORE YOU APPLY

Take your questions to the provider.

Wealthsimple

Confirm the account, full fee schedule, funding methods and current eligibility for your situation.

Visit WealthsimplePersonal referral · Biowitt’s owner may receive a rewardHow this referral works →Eligibility and offer terms ↗Visit without a referral ↗

Questrade

Confirm the account, full fee schedule, funding methods and current eligibility for your situation.

Visit QuestradeOfficial website · No affiliate commission

A SMALL STEP YOU CAN SAVE

Your before-you-open checklist

0 / 3

Use this as a reading checklist, not confirmation that an investment is right for you.

I understand the account’s contribution and withdrawal rules.Compare account rules →

I checked currency, account and trading costs—not just commissions.Try the fee calculator →

I considered when I need the money and what could lose value.Review investment types →

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HOW WE COMPARED

Published costs, with the limits in view.

Biowitt reviewed the linked fee schedules on September 19, 2026. This comparison is about published costs. We have not opened and tested both accounts using a standardized protocol, and do not rate reliability, support or investment outcomes. The scenarios above are our explanations of how the published fee structures may matter; they are not performance findings.

Read our editorial standards →