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

Published May 11, 2026 · 9 min read · By · 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.

CriterionWealthsimpleQuestradeDisnat
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 fee1.5%2% (except USD account)1.75%

30-second summary

CriterionWealthsimpleQuestradeDisnat
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 fee1.5%2% (except USD account)1.75%
RRSP / TFSA / FHSA✓✓✓
Mobile appExcellentGoodAverage
French-language supportLimitedGoodExcellent (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

Wealthsimple cons

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

Questrade cons

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

Disnat cons

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.

BrokerCommission feesFX conversion feesHidden feesEstimated 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:

BrokerCommission feesFX conversion feesHidden feesEstimated 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

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 →
Disclaimer: This article is for informational purposes only. WealthWise is not a registered investment advisor. Fees and features change — always verify current conditions directly on the broker's website before opening an account. Consult a licensed advisor registered with your provincial securities regulator before any investment decision.

Sources & references

Educational content. Figures and rules verified against the official sources above; tax amounts change annually.

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$25 CAD for youAfter at least $100 CAD in eligible external funding within 30 days. A Wealthsimple chequing account in good standing is required to receive the reward.
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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.

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