Finder makes money from featured partners, but editorial opinions are our own.

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: 4.3 / 5 ★★★★★

Go to site
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 up to a $150 sign-up bonus. Use code OFFER2024. Ends October 31, 2024.

Finder rating: 3.7 / 5 ★★★★★

Go to site
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
Flahmingo is a mobile-first trading app that lets you buy ETFs and fractional shares in high-performing US companies. Like Wealthsimple, it's free to use and there are no minimum balance requirements. The app sets itself apart by offering sector-specific tracking and free learning resources. However, the company is fairly new and it's not regulated by IIROC, which might deter some users. The app is also waitlisted but is supposed to launch in 2022.

Compare other trading platforms

1 - 4 of 4
Name Product Finder Rating Available Asset Types Stock Trading Fee Account Fee Signup Offer Table description
Interactive Brokers
Finder Score:
★★★★★
4.3 / 5
Stocks, Bonds, Options, ETFs, Currencies, Futures
min $1.00, max 0.5%
$0
N/A
Winner for Best Overall Broker in the Finder Stock Trading Platform Awards.
CIBC Investor's Edge
Finder Score:
★★★★★
3.8 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs
$6.95
$0 if conditions met, or $100
100 free trades + up to $4,500 cash back
An easy-to-use platform with access to a variety of tools to help you trade with confidence.
Questrade
Finder Score:
★★★★★
4.3 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
$4.95 - $9.95
$0
Get $50 in free trades when you fund your account with a minimum of $1,000.
Opt for self-directed investing and save on fees or get a pre-built portfolio to take out some of the guesswork.
Qtrade Direct Investing
Finder Score:
★★★★★
3.7 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
Get up to a $150 sign-up bonus. Use code OFFER2024. Ends October 31, 2024.
Low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options.
loading

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