Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Apps like Wealthsimple

Compare apps like Wealthsimple to find the best trading platform for your unique set of needs.

Wealthsimple is a popular commission-free mobile trading platform that lets you buy and sell thousands of stocks and exchange traded funds (ETFs). The platform performs well among its peers, but you may want to compare a few apps to find the best fit for your needs. Learn more about apps like Wealthsimple or explore an in-depth ranking of the best stock trading apps in Canada here.

Apps like Wealthsimple

Wealthsimple is known for its low fees and user-friendly platform. That said, it pays to compare apps like Wealthsimple because each app has unique features that could make it a better fit for your needs. Click on the links below to learn more about each alternative:

Questrade

Questrade

Get $50 in free trades when you fund your account with a minimum of $1,000.

Finder rating: 4.2 / 5 ★★★★★

Similarities
  • Sign up in minutes
  • No annual account fees
  • Supports stocks and commission-free ETFs
  • Accounts include RRSPs, TFSAs and cash accounts
  • Regulated in Canada
Differences
  • Commissions for stocks range from $4.95 to $9.95
  • Requires minimum balance of $1,000
  • Offers advanced investments such as options
  • Live stock quotes and plenty of research tools

Wealthsimple vs. Questrade

Qtrade Direct Investing

Qtrade Direct Investing

Get almost $500 in commission free trades when you fund your new account with a minimum of $10,000. Conditions apply. Ends August 31, 2022. Plus, top up your transfer to $15,000 and Qtrade will cover the transfer fee up to $150.

Finder rating: 4.1 / 5 ★★★★★

Similarities
  • Sign up in minutes
  • No minimum deposit required
  • Supports ETFs and stocks
  • Accounts include RRSPs, TFSAs and cash accounts
  • Regulated in Canada
Differences
  • Quarterly account fees of $25 (unless you have $25,000 in your account)
  • Commissions for stocks and ETFs range from $6.95 to $8.75
  • Offers advanced investments such as options
  • Allows margin accounts
  • Broad range of research tools
Qtrade vs. Questrade

MogoTrade (waitlisted)

MogoTrade

Enjoy commission-free trades and free real-time streaming quotes.

Finder rating: 3.9 / 5 ★★★★★

Similarities
  • Sign up in minutes
  • No monthly fees
  • Commission-free trading of stocks and ETFs
  • Fractional shares
  • No minimum balance required
  • Options, futures and margin trading not available
Differences
  • Emphasis on green and ESG investing
  • App isn't launched yet (currently waitlisted)
  • Free real-time quotes available to all users
  • No access from desktop

Flahmingo (waitlisted)

Flahmingo

Invest as little as $1 to buy fractional shares in highly ranked US companies

  • Sign up in minutes
  • No monthly fees
  • Commission-free trading of stocks and ETFs
  • Fractional shares
  • No minimum balance required
  • Options, futures and margin trading not available
  • US securities only
  • App isn't launched yet (currently waitlisted)
  • Sector-specific portfolios
  • Only TFSAs currently available
  • No access from desktop
  • Not regulated by IIROC

Compare other trading platforms

1 - 6 of 6
Name Product Finder Rating Stock Trading Fee Account Fee Available Asset Types Offer
OFFER
CIBC Investor's Edge
Finder Rating:
★★★★★
4 / 5
$4.95–$6.95
$0 if conditions met, otherwise $100 a year
Stocks, Bonds, Options, Mutual Funds, ETFs
Young investors 18 to 24 can get free online trades and a $0 annual account fee. Conditions apply.
Interactive Brokers
Finder Rating:
★★★★★
4.1 / 5
Min. $1.00, Max. 0.5%
$0
Stocks, Bonds, Options, ETFs, Currencies, Futures
Scotia iTRADE
Finder Rating:
★★★★★
3.8 / 5
$4.99–$9.99
$0
Bonds, Options, Mutual Funds, ETFs, GICs, International Equities
Questrade
Finder Rating:
★★★★★
4.2 / 5
$4.95 - $9.95
$0
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
Get $50 in free trades when you fund your account with a minimum of $1,000.
FREE TRADES
Wealthsimple
Finder Rating:
★★★★★
3.9 / 5
$0
$0
Stocks, ETFs
Get $25 when you open a Wealthsimple account and fund at least $150.
OFFER
Qtrade Direct Investing
Finder Rating:
★★★★★
4.1 / 5
$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
Get almost $500 in commission free trades when you fund your new account with a minimum of $10,000. Conditions apply. Ends August 31, 2022.
loading

Compare up to 4 providers

Apps like Wealthsimple Invest

Wealthsimple Invest is the robo-advisor version of the Wealthsimple Trade account. This means you don’t choose ETFs or investments yourself, but it’s done by an algorithm in the app. All you need to do is set your risk profile and any money you deposit will be invested automatically. Apps like Wealthsimple Invest include the following:

Apps like Wealthsimple Cash

Wealthsimple Cash is an online bank account that lets you save and send money for free. It comes with no account fees and is usually much more flexible than a normal bank account. Other apps like Wealthsimple Cash include the following:

Bottom line

Wealthsimple’s easy-to-use platform and commission-free trading structure make it a leader amongst its competitors. But it always pays to do your homework and compare trading platforms based on your needs. Apps and platforms like Questrade, Qtrade, MogoTrade and Flahmingo are alternatives to Wealthsimple. The one that is best for you depends on your priorities.

Frequently asked questions

More guides on Finder

Go to site