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Wealthsimple vs Questrade vs Disnat — Which Broker to Choose in 2026?

Published May 11, 2026 · 9 min read · By the WealthWise team · Updated June 20, 2026

Torn between Wealthsimple Trade, Questrade and Disnat (Desjardins) to open your RRSP, TFSA or non-registered account? These three brokers cover 80% of the Canadian DIY market. Here is a detailed comparison of fees, features and user experience in 2026.

30-second summary

TL;DR: Wealthsimple for beginners or anyone who wants $0 commission. Questrade for serious investors who trade frequently and want a USD account. Disnat if you are already a Desjardins client and want the security of a large co-operative.

1. Wealthsimple Trade — the mainstream option

Wealthsimple pros

• ✅ $0 commission on all Canadian and US stocks and ETFs
• ✅ Highest-rated mobile app in Canada (4.8/5 App Store)
• ✅ Fractional shares (e.g., 0.1 share of AMZN)
• ✅ Wealthsimple Cash (chequing account), Crypto, and integrated tax planning
• ✅ TFSA / RRSP / FHSA / non-registered supported
• ✅ Wealthsimple Premium ($10/month) unlocks USD accounts, free transfers, Level 1 quotes

Wealthsimple cons

• ❌ USD/CAD currency conversion fee of 1.5% — major impact if you trade lots of US stocks
• ❌ No separate USD account without the Premium plan
• ❌ No options, no futures, no individual bonds
• ❌ No full order book (Level 2 unavailable)

Best for

Beginners, buy-and-hold investors making 1–10 trades per year, and anyone who wants a smooth mobile experience. If you do 90% of your trading in Canadian ETFs and earn your salary in CAD, this is the most economical choice.

2. Questrade — the active investor option

Questrade pros

• ✅ Free ETF purchases (sell: $4.95–$9.95)
• ✅ Native separate USD account — no conversion on every US trade
• ✅ Advanced Questrade Edge platform (desktop) — pro charts, hotkeys
• ✅ Options, futures, individual bonds, international ETFs
• ✅ RRSP / TFSA / FHSA / RESP / RRIF / LIRA / margin / Corp
• ✅ Level 2 order book available ($19.95/month)

Questrade cons

• ❌ Commission fees of $4.95 to $9.95 per stock trade
• ❌ Minimum deposit of $1,000 to open an account
• ❌ Mobile app is decent but less polished than Wealthsimple
• ❌ Possible inactivity fees ($24.95/quarter if account is below $5,000 and < 1 trade/quarter)

Best for

Active investors (10+ trades/month), US stock traders who want to avoid currency conversions, and anyone who wants options/futures. The native USD account often makes the economic difference vs Wealthsimple starting around $25,000 of US exposure.

3. Disnat (Desjardins) — the Canadian institutional option

Disnat pros

• ✅ Integrated into the Desjardins ecosystem (chequing, mortgage, insurance)
• ✅ French-language customer support (the best of the three)
• ✅ Disnat Direct platform (advanced) + Disnat Classic (beginner)
• ✅ Corp and Trust accounts supported (rare among DIY brokers)
• ✅ Institutional security (member of Desjardins, the largest co-operative savings group)
• ✅ No minimum deposit

Disnat cons

• ❌ $6.95–$9.95 commission per trade (no $0 commission)
• ❌ Mobile app less modern than Wealthsimple/Questrade
• ❌ USD/CAD currency conversion fee of 1.75%
• ❌ Slower onboarding (institutional paperwork)

Best for

Desjardins clients who want everything consolidated, French-speaking investors who value support, and anyone who wants a co-operative structure rather than a fintech or classic online broker.

4. Detailed comparison: how much you pay over 1 year

Annual cost simulation: you make 12 trades per year (1/month), with a $15,000 average portfolio and 30% US stock exposure:

For this investor profile, Wealthsimple Trade has the lowest cost by a wide margin. For an active trader with 50+ trades/year and heavy US bias, Questrade is the cheapest option for that profile. Disnat is only competitive if you negotiate fees with your Desjardins advisor.

5. Taxation — RRSP vs TFSA: all three brokers support them

All 3 brokers support: RRSP, TFSA, FHSA, non-registered, RESP, RRIF, LIRA. You can therefore choose freely on the fees/UX criteria. The tax treatment of dividends (eligible dividend tax credit, US withholding tax) does NOT depend on the broker but on the account type.

6. Final recommendation by investor profile

• 🇨🇦 Beginner + small capital + RRSP/TFSA on Canadian stocks → Wealthsimple Trade
• 🌎 Active US investor + portfolio > $25,000 → Questrade (USD account)
• 🏦 Desjardins client or Corp/Trust → Disnat
• ⚡ Options/futures trader → Questrade or Interactive Brokers Canada (not covered here)

Worth considering: Whichever broker you choose, use WealthWise as a complementary analytics layer to track your multi-broker portfolio. We support CSV imports from all Canadian brokers.