Wealthsimple vs Questrade vs Disnat — Which Broker to Choose in 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.
| Criterion | Wealthsimple | Questrade | Disnat |
|---|---|---|---|
| Commission fees per CA stock trade | $0 | $4.95–$9.95 | $6.95–$9.95 |
| Minimum balance | $0 | $1,000 | $0 |
| USD/CAD currency conversion fee | 1.5% | 2% (except USD account) | 1.75% |
30-second summary
| Criterion | Wealthsimple | Questrade | Disnat |
|---|---|---|---|
| Commission fees per CA stock trade | $0 | $4.95–$9.95 | $6.95–$9.95 |
| ETF fees | $0 | $0 buy / $4.95–$9.95 sell | $6.95–$9.95 |
| Minimum balance | $0 | $1,000 | $0 |
| USD/CAD currency conversion fee | 1.5% | 2% (except USD account) | 1.75% |
| RRSP / TFSA / FHSA | ✓ | ✓ | ✓ |
| Mobile app | Excellent | Good | Average |
| French-language support | Limited | Good | Excellent (Desjardins) |
| Order book / Level 2 quotes | ✗ | ✓ (paid) | ✓ (paid) |
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.
| Broker | Commission fees | FX conversion fees | Hidden fees | Estimated total/year |
|---|---|---|---|---|
| Wealthsimple Trade | $0 | ~$70 (1.5% on $4,500 US flow) | $0 | ~$70 |
| Wealthsimple Premium | $0 | $0 (USD account) | $120 ($10/month) | ~$120 |
| Questrade | ~$95 (12 × $4.95–$9.95) | $0 (USD account) | $0 | ~$95 |
| Disnat | ~$84 (12 × $6.95) | ~$80 (1.75% on $4,500) | $0 | ~$164 |
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:
| Broker | Commission fees | FX conversion fees | Hidden fees | Estimated total/year |
|---|---|---|---|---|
| Wealthsimple Trade | $0 | ~$70 (1.5% on $4,500 US flow) | $0 | ~$70 |
| Wealthsimple Premium | $0 | $0 (USD account) | $120 ($10/month) | ~$120 |
| Questrade | ~$95 (12 × $4.95–$9.95) | $0 (USD account) | $0 | ~$95 |
| Disnat | ~$84 (12 × $6.95) | ~$80 (1.75% on $4,500) | $0 | ~$164 |
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.
Lean Wealthsimple Trade
- Beginner with small capital, RRSP/TFSA on Canadian stocks
- Buy-and-hold investor making 1–10 trades per year
- Wants $0 commission and a smooth mobile experience
- Earns salary in CAD and trades mostly Canadian ETFs
Lean Questrade
- Active US investor with portfolio > $25,000
- Active investor making 10+ trades per month
- Wants a native USD account to avoid conversions on every US trade
- Wants options, futures or a Level 2 order book
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, WealthWise remains an independent analytics platform for bringing together and understanding every portfolio. We support CSV imports from all Canadian brokers.
Compare the WealthWise tracker →Sources & references
Educational content. Figures and rules verified against the official sources above; tax amounts change annually.
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Disclosure: the opinions expressed here are WealthWise's own, not Wealthsimple's. WealthWise has a financial interest in this link and may receive a reward if you open and fund an eligible account. The reward is paid to a Wealthsimple chequing account and must remain in a Wealthsimple account for 180 days, under the terms. Wealthsimple determines the offer, eligibility and timing, which may change. Compare fees, currencies and features before choosing a broker.