{"id":1084079,"date":"2026-09-25T18:34:59","date_gmt":"2026-09-25T22:34:59","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=1084079"},"modified":"2026-09-25T20:36:02","modified_gmt":"2026-09-26T00:36:02","slug":"wealthsimple-vs-bmo-investorline","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/stock-trading\/wealthsimple-vs-bmo-investorline","title":{"rendered":"Wealthsimple vs BMO InvestorLine: Which trading platform is better?"},"content":{"rendered":"

Wealthsimple and BMO InvestorLine have very different origin stories. One is a fintech that has shaken things up in the Canadian brokerage industry with commission-free stock trading; the other is a Big Bank-backed brokerage platform that\u2019s been around for decades.<\/p>

But which of these two popular options is the right trading platform for you? Let\u2019s compare Wealthsimple vs BMO InvestorLine to find out.<\/p>

Wealthsimple vs BMO InvestorLine: An overview<\/h3>
<\/th>Wealthsimple<\/strong><\/th>BMO InvestorLine<\/strong><\/th><\/tr><\/thead>
Founded in<\/td>2014<\/td>1988<\/td><\/tr>
Best for<\/td>Go with this platform if<\/strong> you want a user-friendly platform for commission-free trading<\/td>Go with this platform if <\/strong>you bank with BMO and you want a secure and established trading platform<\/td><\/tr>
Stock and ETF trading fees<\/td>$0<\/td>$0<\/td><\/tr>
Minimum deposit<\/td>$0<\/td>$0<\/td><\/tr>
Deposit methods<\/td>
  • Linking a bank account<\/li>
  • Interac e-Transfer<\/li>
  • Visa or Mastercard debit<\/li>
  • Direct deposit<\/li>
  • International transfer<\/li>
  • Wire transfer<\/li><\/ul><\/td>
  • Linked BMO account transfer<\/li>
  • Bill payment<\/li>
  • Account transfer from another broker<\/li><\/ul><\/td><\/tr>
Withdrawal methods<\/td>
  • Visa or Mastercard debit<\/li>
  • Electronic funds transfer<\/li>
  • Wire transfer<\/li><\/ul><\/td>
  • Linked BMO account transfer<\/li>
  • Electronic funds transfer<\/li>
  • Wire transfer<\/li>
  • Cheque<\/li>
  • ATM<\/li><\/ul><\/td><\/tr>
Fractional shares<\/td>Yes, for Canadian and US stocks and ETFs<\/td>No<\/td><\/tr>
After-hours trading<\/td>Yes, 24 hours a day for 5 days a week for US-listed stocks and ETFs<\/td>Yes, for the TSX and major US exchanges, but only available over the phone<\/td><\/tr>
Customer support<\/td>Available via live chat and phone<\/td>Available via live chat and phone<\/td><\/tr>
Get started<\/td>
\r\n
\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td>
\r\n
\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr><\/tbody><\/table>

What is Wealthsimple?<\/h3>

Founded in 2014, Wealthsimple is a Toronto-based fintech that started life as a robo-advisor. But alongside its managed portfolios, it now offers a full range of financial products, including self-directed stock trading, a chequing account and a credit card.<\/p>

For investors, Wealthsimple is probably best known for its commission-free trading of Canadian and US stocks and ETFs. Its sleek mobile app has also earned plenty of praise, providing a beginner-friendly platform for new investors.<\/p>

Wealthsimple review<\/a><\/p>

What is BMO InvestorLine?<\/h3>

BMO InvestorLine is a well-known name in the Canadian brokerage industry. Launched all the way back in September 1988, it initially gave self-directed investors the chance to trade stocks in person, over the phone and by fax. Online trading was added in 1997, while customers can now also trade via the BMO Invest app.<\/p>

InvestorLine stands out for its access to a wide range of tradeable assets and account types, plus the advanced trading tools available with BMO Active Trader.<\/p>

BMO InvestorLine review<\/a><\/p>

Wealthsimple vs BMO InvestorLine: Investment products<\/h3>

The right broker for you will provide access to all the assets you want to trade.<\/p>

Wealthsimple and BMO InvestorLine both let you trade Canadian and US stocks and ETFs, which is enough to keep plenty of casual investors happy. But one of Wealthsimple\u2019s key points of difference is that it offers crypto trading alongside traditional securities trading.<\/p>

Let\u2019s look at a breakdown of the investment products that each platform supports.<\/p>

Wealthsimple<\/h4>
  • Canadian and US stocks<\/li>
  • Canadian and US ETFs<\/li>
  • US options<\/li>
  • Futures<\/li>
  • Cryptocurrency<\/li>
  • Gold<\/li><\/ul>

    BMO InvestorLine<\/h4>
    • Canadian and US stocks<\/li>
    • Canadian and US ETFs<\/li>
    • Canadian and US options<\/li>
    • Mutual funds<\/li>
    • Bonds<\/li>
    • GICs<\/li>
    • CDRs<\/li>
    • Gold and silver<\/li><\/ul>

      \"AwardWho\u2019s the winner?<\/h4>

      BMO InvestorLine<\/strong> supports a wider range of investment products.<\/p>

      Wealthsimple vs BMO InvestorLine: Fees<\/h3>
      Fee type<\/th>Wealthsimple<\/strong><\/th>BMO InvestorLine<\/strong><\/th><\/tr><\/thead>
      Account fee<\/td>$0<\/td>$0<\/td><\/tr>
      Trading fees<\/td>
      • Stocks: $0<\/li>
      • ETFs: free<\/li>
      • Options: $0<\/li>
      • Gold: 1% on top of spot price<\/li>
      • Cryptocurrency: 0.05%\u20132%<\/li>
      • USD accounts come with a $10 monthly fee for some clients<\/li><\/ul><\/td>
      • Stocks: $0<\/li>
      • ETFs: $0<\/li>
      • Options: $0 + $0.90 per options contract<\/li>
      • Bonds: $0 \u2013 $49,999 bonds cost $40 + $1.50\/$1,000 and $50,000+ bonds cost $40 + $1.00\/$1,000<\/li>
      • Mutual funds: $0<\/li>
      • Gold: $35 + $1.00\/oz<\/li>
      • Silver: $35 + $0.10\/oz<\/li><\/ul><\/td><\/tr>
      Management fee<\/td>
      • Core: 0.5%<\/li>
      • Premium: 0.4%<\/li>
      • Generation: 0.2% \u2013 0.4%<\/li><\/ul><\/td>
      		0.4% \u2013 0.7%<\/td><\/tr>
      Currency conversion fee<\/td>1.50%<\/td>0.40% - 1.60%<\/td><\/tr>
      Deposit fee<\/td>$0<\/td>$0<\/td><\/tr>
      Withdrawal fee<\/td>Instant withdrawals: 2.5%<\/td>Fees apply to wire transfer withdrawals<\/td><\/tr>
      Inactivity fee<\/td>$0<\/td>$0<\/td><\/tr>
      Account transfer fee<\/td>$0<\/td>$0<\/td><\/tr><\/tbody><\/table>

      While Wealthsimple is well known for its $0-commission fee structure, BMO InvestorLine became the first of the Big Five Banks in Canada to join the ranks of no-fee trading after it dropped nearly all of its trading fees.<\/p>

      That gives BMO InvestorLine customers the advantage of getting $0 commission trades on all US and Canadian stocks and ETFs, like Wealthsimple, but from a well-established Canadian bank. That said, Wealthsimple offers cheaper options trading fees and management fees.<\/p>

      \"AwardWho\u2019s the winner?<\/h4>

      While both platforms offer commission-free trading, Wealthsimple<\/strong> takes the top spot because it has lower fees across some other metrics. But if investing with a Big Bank is important to you, BMO InvestorLine\u2019s<\/strong> no-fee structure is a solid option.<\/p>

      Wealthsimple vs BMO InvestorLine: Account types<\/h3>

      Both brokers offer non-registered cash accounts for investors, plus margin accounts for experienced traders who want increased buying power. Wealthsimple and BMO InvestorLine also let you invest through a variety of registered accounts so you can make the most of a variety of tax benefits.<\/p>

      Options include:<\/p>

      • TFSAs<\/li>
      • FHSAs<\/li>
      • RRSPs<\/li>
      • RESPs<\/li>
      • RRIFs<\/li>
      • LIRAs<\/li>
      • LIFs<\/li><\/ul>

        \"AwardWho\u2019s the winner?<\/h4>

        It\u2019s a tie<\/strong>. Both platforms allow you to invest through a variety of account types.<\/p>

        Wealthsimple vs BMO InvestorLine: Managed portfolios<\/h3>

        If you don\u2019t have the knowledge or the time to pick and choose your own investments, you could let your broker do some or all of the hard work for you.<\/p>

        Wealthsimple Invest is the platform\u2019s robo-advisor service, and it offers a selection of portfolios based on different financial goals and risk profiles. Options include the Summit portfolios, which provide a mix of equities and access to private markets. The Classic portfolio features a mix of ETFs chosen based on your preference of Aggressive, Growth, Balanced or Conservative financial goals. Income portfolios are designed to provide an ongoing source of income through high-yield investments, while private credit funds are also available.<\/p>

        BMO offers a couple of different options if you need help managing your investments. The first is BMO InvestorLine adviceDirect, which lets you place your own trades but also access advisor support, personalized trade recommendations and 24\/7 portfolio monitoring. You\u2019ll need at least $10,000 to get started, and fees range from 0.1% \u2013 0.5%.<\/p>

        The second option is BMO SmartFolio, a professional portfolio management service. Once you answer some questions about your financial situation, goals and risk tolerance, you\u2019ll be matched with an ETF portfolio that meets your needs. There are 5 portfolios in the range\u2014Capital Preservation, Income, Balanced, Long Term Growth, Equity Growth\u2014and your portfolio is managed by BMO\u2019s team. Management fees range from 0.4% to 0.7%, and there\u2019s a $1,000 minimum investment required.<\/p>

        \"AwardWho\u2019s the winner?<\/h4>

        The lower fees and investment minimums at Wealthsimple<\/strong> see it come out on top.<\/p>

        Wealthsimple vs BMO InvestorLine: USD accounts<\/h3>

        Trading US stocks and ETFs opens up a wealth of new investment opportunities, but there\u2019s one drawback: currency conversion costs when moving between CAD and USD.<\/p>

        The good news is that Wealthsimple and InvestorLine both support USD-denominated accounts. This means you can hold funds and trade in USD, rather than forking out to cover currency conversion costs every time you make a trade. And when you do need to convert, it\u2019ll cost you 1.50% with Wealthsimple and between 0.4% and 1.6% with BMO.<\/p>

        You won\u2019t pay a fee for your USD account with BMO InvestorLine (provided you meet the minimum balance requirement to avoid the quarterly account fee). But if you\u2019re a Core client (less than $100,000 in assets) with Wealthsimple, your USD account will cost you $10 a month.<\/p>

        \"AwardWho\u2019s the winner?<\/h4>

        BMO InvestorLine<\/strong> has the edge here.<\/p>

        Wealthsimple vs BMO InvestorLine: Margin accounts<\/h3>

        Want to borrow money from your broker so you can trade on margin? Wealthsimple and InvestorLine both offer margin accounts for anyone looking to increase their purchasing power. Wealthsimple also lets you link your TFSA and non-registered account to your margin account to further boost your buying power.<\/p>

        Wealthsimple\u2019s margin interest rates are tiered based on the amount of assets you hold with the broker. InvestorLine\u2019s rates vary depending on the amount you borrow and whether or not you qualify for the platform\u2019s 5 Star Program for high-value clients.<\/p>

        Check the table below to compare rates.<\/p>
        <\/th>Wealthsimple<\/strong><\/th>BMO InvestorLine<\/strong><\/th><\/tr><\/thead>
        CAD<\/strong><\/td>3.95% \u2013 4.95%<\/td>5.25% \u2013 6%<\/td><\/tr>
        USD<\/strong><\/td>6.25% \u2013 7.25%<\/td>7.75% \u2013 8.75%<\/td><\/tr><\/tbody><\/table>

        \"AwardWho\u2019s the winner?<\/h4>

        Wealthsimple<\/strong>\u2018s lower margin interest rates see it take the win here.<\/p>

        Wealthsimple vs BMO InvestorLine: Investor experience<\/h3>

        Slick is the first word that comes to mind when describing the Wealthsimple user experience. Whether you\u2019re online or using the streamlined mobile app, everything is simple and straightforward. The focus here is on simplicity and convenience, and it\u2019s the sort of platform that even a complete investing novice can wrap their head around quickly. And if you\u2019re a more experienced trader, you\u2019ll appreciate the advanced features of Wealthsimple\u2019s Trade Plus platform.<\/p>

        BMO InvestorLine offers more of a traditional brokerage feel. It doesn\u2019t feel quite as modern as Wealthsimple, but it does impress with the range of research and analysis tools it offers. It just gives the overall impression of a solid and reliable platform, and you get the added peace of mind of dealing with a major, established provider. It\u2019s just a shame that you have to pay a brokerage fee every time you place a trade.<\/p>

        \"AwardWho\u2019s the winner?<\/h4>

        Wealthsimple<\/strong>. While we like the research and analysis tools on offer from BMO InvestorLine, Wealthsimple\u2019s $0 commissions and user-friendly app are hard to beat.<\/p>

        Wealthsimple vs BMO InvestorLine: Learning and research tools<\/h3>

        Investing can be complicated and daunting, so the best online brokers offer free access to a range of educational resources to help boost your knowledge. There\u2019s plenty to explore in BMO\u2019s Investment Learning Centre, with handy articles, financial tips, webinars, podcasts and video courses to explore. Wealthsimple has its own online education centre, but it doesn\u2019t have the same broad range of resources.<\/p>

        BMO also offers a host of tools to help you choose investments. For example, you can take advantage of Trading Central\u2019s Fundamental Insight stock analysis tool and Technical Insights tool for automated technical analysis. You can also access research and analysis from CFRA, Morningstar stock picks and ratings, research from BMO Capital Markets and partners like S&P Global Ratings, plus play around with stock screeners and customizable charts.<\/p>

        Wealthsimple offers features like portfolio analytics, custom watchlists, and advanced charting tools as part of its Trade Plus platform. In late 2025, it also announced plans to launch more AI stock research tools. But at its core, Wealthsimple\u2019s focus remains on keeping things simple, so traders seeking detailed research and analysis will need to look elsewhere.<\/p>

        \"AwardWho\u2019s the winner?<\/h4>

        BMO InvestorLine<\/strong> offers plenty of useful tools to help inform your trades.<\/p>

        Wealthsimple vs BMO InvestorLine: Canadian regulatory bodies<\/h3>

        This category is short and sweet. Wealthsimple and BMO InvestorLine are both legit investment platforms that are overseen by the Canadian Investment Regulatory Organization (CIRO). They\u2019re both members of the Canadian Investor Protection Fund (CIPF) too, so you\u2019re covered to the tune of up to $1 million in the unlikely event your broker becomes insolvent.<\/p>

        \"AwardWho\u2019s the winner?<\/h4>

        It\u2019s a tie<\/strong>.<\/p>

        Wealthsimple vs BMO InvestorLine: Market data<\/h3>

        Wealthsimple provides real-time Level 1 market data for Canadian and US exchanges. But with the platform\u2019s focus on keeping things simple, Level 2 data is not available.<\/p>

        Standard BMO customers get delayed Level 1 data for the following exchanges: TSX, TSX-V, MX, CBOE, Nasdaq, NYSE and OPRA. Active Trader and 5-Star Program members get real-time streaming Level 1 data for all the same exchanges, with Level 2 data available for Platinum or Diamond tier 5-Star members across the TSX, TSX-V, Nasdaq, NYSE and CBOE.<\/p>

        \"AwardWho\u2019s the winner?<\/h4>

        BMO InvestorLine<\/strong> has the advantage here.<\/p>

        How do the mobile apps for Wealthsimple vs BMO InvestorLine compare?<\/h3>

        If you want to trade from your smartphone, the Wealthsimple app is one of the most user-friendly apps around. Its user interface is clean and uncluttered, it\u2019s easy to monitor your portfolio and place trades, and you can also manage your trading account alongside your other Wealthsimple products.<\/p>

        The BMO Invest app provides easy access to your BMO InvestorLine account. The user interface isn\u2019t quite as aesthetically pleasing as Wealthsimple\u2019s offering, but all the key features you need are within quick and easy reach. You can use the app to place trades, track performance and create custom watchlists.<\/p>

        Check out how users rate each app in the table below.<\/p>
        <\/th>Wealthsimple<\/th>BMO Invest<\/th><\/tr><\/thead>
        Apple App Store rating<\/td>\n\n\n\n\n\n\n\n \n \n\n 4.6<\/strong> \u2013\n \u2605\u2605\u2605\u2605\u2605<\/span>
        \n\n 129,000 reviews\n\n <\/span>\n\n\n