Wealthsimple vs Questrade vs Disnat — Which Broker to Choose in 2026?
Published May 11, 2026 · 9 min read
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
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
❌ 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
❌ 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:
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.
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)
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.