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WealthSimple Trade vs. Questrade

WealthSimple Trade and Questrade are 2 of Canada's most popular online brokers. Below are points of how each platform works to aid in your decisions of which platform to choose if WealthSimple Trade and Questrade were at the top of your lists in terms of trading platforms:


WealthSimple Trade

  • Canada's 0-commission stock trading app

  • CIPF Protected up to $1,000,000

  • minimum $100 initial investment

  • have to go through US conversion for US stock trades

  • money can take up to 3 days to be deposited and be able to trade with

  • modern, clean, minimalistic and easy to use design

  • you get free access to thousands of stocks and ETFs listed on North America’s largest exchanges, such as the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX), as well as cryptocurrencies


Questrade:

  • largest and fastest growing online brokerage in Canada

  • CIPF Protected up to $1,000,000

  • mobile and desktop friendly trading

  • can trade stocks for 1 cent per share from $4.95 minimum up to $9.95 maximum

  • offers ETF purchases for free

  • $1000.00 initial investment

  • can keep investments in US dollars

  • money is available within 24 hours to deposit and trade with

  • $24.95 inactivity fee

There you have it 7-9 points of how WealthSimple Trade and Questrade operate. I hope this post will help in your journey to find the right trading platform for you in order to start investing or diversify your existing portfolio to include stocks.

What do I currently invest in? Bank stocks (for security and consistency), some telecommunications companies and a little bit of crypto. This lends me to ask, what stocks do you currently invest in? I'd love to know in the comments below.




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