Broker Comparison: Any Two Platforms Side by Side

1. Broker Comparison Canada: Every Versus Page and Its Winners

How winners are decided. Each platform comparison uses the same scores and the same three priced investor profiles as our rankings. A category goes to the provider with the better published figure; when two scores round to the same number, the unrounded score decides. Account comparisons have no winner in general, so their cards say which account each rule favours.

Where the scores come from. Every score on this page is from our published broker rating methodology: cost 35%, account types 15%, US investing 15%, platform 15%, cash and margin 10% and safety 10% for the overall score, with different weights for the US stocks, beginners and options scores. No provider pays for a position in any comparison.

2. Side-by-Side Matrix of Six Online Brokers

A platform comparison on 19 rows. The matrix lines up the six brokers that earn no bank or co-operative ownership point in our safety score, in overall score order, on the rows that decide most choices: four scores, commissions, US options pricing, US dollars in registered accounts, margin, yearly costs, accounts, features, transfer fees and safety. “Not published” means the broker’s own pages do not state the figure.

How the yearly costs are built. Active: two Canadian trades and one US trade a month in a $20,000 TFSA. Buy-and-hold: one Canadian trade a month. Options: four US options trades a month of two contracts each. Each profile counts commissions plus any yearly account fee, and every stock trade is a $2,000 order of 40 shares. The table below extends the same three profiles to all 13 brokers.

Your own pattern. Enter your own trades and options in the calculator below to see the yearly cost of any two brokers next to each other, and every other broker we cover.

3. Wealthsimple vs Questrade

Close, with Questrade ahead. WealthScale is independent and not affiliated with Wealthsimple. Wealthsimple and Questrade both charge $0 on Canadian and US stocks and ETFs and on US equity options, so their yearly costs are identical in all three profiles. Questrade ranks first overall at 4.3 / 5 and Wealthsimple fourth at 4.2 / 5, separated by 0.1 points.

Where Questrade wins. Questrade includes US dollars in registered accounts at no cost, while Wealthsimple charges $10 a month for a USD account on Core (included from Premium, at $100,000 in assets). That difference is the main reason Questrade has the higher US stocks score, 4.6 / 5 against 4.0 / 5. Questrade also earns a point for its advanced platform, Questrade Pro.

Where Wealthsimple wins. Wealthsimple’s CAD margin rate is 4.95% on Core, 4.45% on Premium and 3.95% on Generation, against Questrade’s 8.70% under $100,000. Wealthsimple charges $0 to transfer out, against $150 at Questrade, and scores 4.7 / 5 for beginners against 4.4 / 5. Its safety points are higher because it states both CIRO and CIPF membership on its own pages.

Managed portfolios. Wealthsimple Managed Investing scores 4.2 / 5 and Questwealth Portfolios 4.1 / 5 among robo-advisors. On $50,000, Questwealth costs $185 a year (0.37% all-in) and Wealthsimple $325 (0.65%); Wealthsimple ranks higher on portfolio choice and access to advisors. The full breakdown is on our Wealthsimple vs Questrade page, with the Wealthsimple review and Questrade review behind it.

4. Wealthsimple vs Interactive Brokers

A near tie. Both show 4.2 / 5. Interactive Brokers Canada’s unrounded score is 4.232 and Wealthsimple’s 4.225, so Interactive Brokers Canada ranks third overall and Wealthsimple fourth. Interactive Brokers Canada gains on margin, cash interest and its platform. Wealthsimple’s strengths are a $0 commission on every stock and ETF trade, every account type and the highest beginners score we publish.

Where Interactive Brokers Canada gains. Its CAD margin rate is 3.675% up to CAD 130,000, against 4.95% on Wealthsimple Core, and it pays 1.675% on CAD cash above CAD 13,000. It also earns a point for its advanced trading platform and leads the options score at 4.6 / 5, although its US$0.65 per contract costs more than Wealthsimple’s $0.

Where Wealthsimple gains. Interactive Brokers Canada charges CAD 0.01 a share with a CAD 1 minimum and USD 0.005 a share with a USD 1 minimum, so our active profile costs $36.00 a year there and a buy-and-hold investor making one Canadian trade a month pays $12.00, where Wealthsimple charges $0.00. Wealthsimple also lists an RESP and a LIRA, which Interactive Brokers Canada does not describe. See the full Wealthsimple vs Interactive Brokers comparison and our Interactive Brokers Canada review.

5. Wealthsimple vs moomoo

A clear gap on accounts and costs. Wealthsimple scores 4.2 / 5 against moomoo Canada’s 3.7 / 5 and wins all four score categories. moomoo charges per share (CA$0.0149 with a CA$1.49 minimum; US$0.0099 with a US$1.99 minimum), so our active profile costs $59.64 a year there against $0.00 at Wealthsimple.

What moomoo offers. moomoo Canada publishes a CAD margin rate from 3.85%, below Wealthsimple’s 4.95% on Core, and charges US$0.65 per options contract. Its TFSA and RRSP can hold US dollars with no fee stated, where Wealthsimple charges $10 a month for a USD account on Core, which is why moomoo’s US investing sub-score is higher, 4.5 against 3.5.

What moomoo lacks. moomoo states it does not offer an FHSA, an RESP, joint or corporate accounts, fractional shares or a DRIP, which is why it scores 2.0 on accounts and 2.5 on the beginner platform. Read the full Wealthsimple vs moomoo comparison and our moomoo Canada review.

6. Questrade vs Interactive Brokers

Questrade ahead on most rows. Questrade scores 4.3 / 5 overall against Interactive Brokers Canada’s 4.2 / 5, and 4.6 / 5 against 3.6 / 5 on the US stocks score. Interactive Brokers Canada leads the options score and, on the unrounded figures, the beginners score.

Interactive Brokers Canada’s edge. A 3.675% CAD margin rate against 8.70%, and 1.675% interest on CAD cash above CAD 13,000 where Questrade’s formula works out to 0%. It also has the higher options score, 4.6 / 5 against 4.3 / 5, and earns a full platform point for its mobile app, where Questrade earns half.

Questrade’s edge. $0 commissions on every stock and ETF trade and on US equity options, US dollars in registered accounts at no cost, and all 10 account types including an RESP and a LIRA. On our active profile it costs $0.00 a year against $36.00, for a buy-and-hold investor $0.00 against $12.00, and for our options profile $0.00 against $62.40. Questrade charges $150 to transfer an account out. See the full Questrade vs Interactive Brokers comparison.

7. Wealthsimple vs EQ Bank

A banking comparison. This pairing compares everyday accounts, not brokers. EQ Bank’s Personal Account ranks first of 20 chequing accounts at 4.6 / 5, and Wealthsimple Chequing ranks second at 4.4 / 5. Both charge a $0 monthly fee and reimburse ATM fees.

Who each suits. If you can send your pay to the account, EQ Bank’s 2.75% beats Wealthsimple’s Core rate. If you cannot, Wealthsimple pays more: 1.25% on Core against EQ’s 1.00%, and 2.25% on Generation ($500,000 or more with Wealthsimple). EQ Bank is a CDIC member in its own right; Wealthsimple places deposits in trust at CDIC member institutions, with higher combined coverage. Read the full Wealthsimple vs EQ Bank comparison, the EQ Bank review and the Wealthsimple Chequing review.

8. TFSA vs RRSP and Other Account Matchups

Rules, not scores. Account comparisons have no overall winner. The right answer depends on your tax rate now and later, whether you qualify as a first-time home buyer and when you will need the money. The table gives the 2026 figures and the rule each comparison turns on.

TFSA vs RRSP. The 2026 TFSA limit is $7,000, and someone eligible since 2009 who has never contributed has $109,000 of room. The 2026 RRSP limit is 18% of your 2025 earned income, up to $33,810. An RRSP deduction is worth most when your tax rate now is higher than it will be when you withdraw; a TFSA withdrawal is never taxed and the amount is added back to your room on January 1 of the next year.

FHSA vs RRSP and FHSA vs TFSA. An FHSA gives $8,000 of room a year up to $40,000 for life, a deduction like an RRSP and a tax-free qualifying withdrawal like a TFSA. The Home Buyers’ Plan lets you take up to $60,000 from an RRSP but must be repaid over 15 years; for first withdrawals from 2022 to 2028, repayment starts in the fifth year after the first withdrawal. You can use an FHSA and the HBP for the same home, and an unused FHSA can move to an RRSP without using RRSP room.

GIC vs HISA. In our rate tables on October 22, 2026, the best 5-year GIC paid 4.50% (Oaken Financial and Saven Financial), the best 1-year GIC 3.85% (Hubert Financial and Outlook Financial) and the best everyday savings account without a paid plan 2.85% (Saven Financial). CDIC covers eligible deposits and GICs at member institutions up to $100,000 per insured category; some providers in our tables, such as Hubert Financial and Outlook Financial, are covered by a provincial deposit insurer instead. Our GIC rates and high-interest savings pages list every rate with its date.

TFSA vs non-registered. Nothing earned inside a TFSA is taxed, while a non-registered account taxes interest every year, Canadian dividends after the dividend tax credit, and half of a capital gain when you sell. The taxable account has no contribution limit, lets you deduct capital losses against gains and gives a foreign tax credit for US withholding, so it is where money goes once TFSA and RRSP room is used.

RRIF vs LIF. Both pay at least the same yearly minimum, 1 / (90 minus age) up to 70 and 5.28% at 71. A RRIF has no maximum. A federally regulated LIF also has a maximum until the year you turn 90, because pension law requires locked-in money to last as retirement income. Payments from both qualify for pension income splitting from 65.

9. Bank-Owned Brokers vs the Rest

A common first comparison. Many investors start by comparing their bank’s brokerage with an online-only broker. Seven of the 13 brokers we score have a bank or financial co-operative owner, which earns one extra safety point in our model. The table ranks all 13 by overall score.

What the table shows. Ownership does not decide cost. Three bank or co-op brokers, National Bank Direct Brokerage, BMO InvestorLine and Desjardins Online Brokerage, charge $0 online commissions and cost $0.00 a year on both trading profiles, the same as Questrade and Wealthsimple, and Desjardins ranks second of all 13. The other four, CIBC Investor’s Edge, RBC Direct Investing, Scotia iTRADE and TD Direct Investing, charge $6.95 to $9.99 a trade and cost $250.20 or more a year on the active profile.

Safety is close either way. Every broker here is, or belongs to, a firm on the Canadian Investor Protection Fund’s member list, which protects client property up to $1,000,000 per account category if a member firm fails. The bank-owned brokers score 4.5 or 5 on safety and the others 3.5 or 4, a gap worth at most 0.15 points on the overall score. The RBC Direct Investing review and TD Direct Investing review cover the two big-bank brokers we have reviewed in full.

Two bank brokers head to head with Wealthsimple. TD Direct Investing charges $9.99 a trade and RBC Direct Investing $9.95, against $0 at Wealthsimple, which is most of the gap between 4.2 / 5 and their 2.4 / 5 and 2.7 / 5. The banks score higher on safety, and TD scores 5.0 on our platform factor against Wealthsimple’s 4. Our Wealthsimple vs TD Direct Investing and Wealthsimple vs RBC Direct Investing pages work through every row, including TD Easy Trade and RBC’s $0 ETF list.

10. How to Compare Two Platforms in 6 Steps

Use the same yardstick on both. A fair comparison prices both platforms for your own pattern and checks the same features in the same order. Please work through these steps with your real numbers.

1. Write down your pattern. Note your Canadian and US trades a month, any options trades and your balance.
2. Price both in the calculator. Enter that pattern in the yearly cost calculator above and note both totals, including account fees you would not avoid.
3. Check the accounts. Confirm both offer every account you need: TFSA, RRSP, FHSA, RESP, spousal RRSP or LIRA.
4. Compare US dollar accounts. Check whether you can hold US dollars in registered accounts, the account fee for it and the US commission.
5. Compare the scores that match you. Use the overall score for a general choice, the US stocks, beginners or options score for a specific need, and read each review’s cons.
6. Check safety and the switch. Confirm CIRO and CIPF membership, then check the transfer-out fee at your current broker and whether the new one covers it.

No versus page for your pair? Every broker we score appears in the matrix and cost tables above, and our compare online brokers page has the master table for all 13. Our guide to transferring an investment account explains how to move a TFSA or RRSP without tax once you decide. Scores never depend on payment; see how WealthScale makes money and our editorial standards.

Meet the Experts Behind WealthScale

Sharad Gondaliya, CPAWriter and tax reviewerCPA Ontario No. 61040184

Sharad is a CPA Ontario member (No. 61040184) and a Certified Public Accountant licensed in Washington and Montana, with more than 15 years in accounting and tax, a Diploma in Banking and Finance and a Certificate in Small Business Finance. He checks WealthScale content against primary sources. WealthScale is independent of his firm, Gondaliya CPA Professional Corporation, and provides general information only, not personal financial, investment, tax or legal advice.

• Chartered Professional Accountant, CPA Ontario
• Certified Public Accountant, Washington (No. 57629) and Montana (No. PAC-CPAP-LIC-033176)
• Writing on tax and registered accounts since 2021
• Reader’s Choice Award 2025 Winner, Best Accountant (Toronto)

Read Sharad’s profile and verify his credentials

Neha Gupta, CFAFinancial ReviewerCFA charterholder

Neha Gupta is a CFA charterholder based in Winnipeg who has worked in financial markets since December 2005. She has published more than 2,600 investment articles and is Head of Operations and Finance at Whiteland Real Estate. She reviews WealthScale’s investing pages for accuracy.

• CFA charter, CFA Institute (awarded 2023)
• Post Graduate Diploma in Business Administration (Finance), 2008
• In financial markets since December 2005
• More than 2,600 published investment articles

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