Updated September 28, 2026 · BrokerCue Editorial Team
Fidelity vs Wealthsimple
Where Fidelity and Wealthsimple differ
| Compare |  Fidelity |  Wealthsimple |
|---|---|---|
| Minimum deposit | $0 | CA$0 |
| Stock trade fee | $0 | CA$0 |
| Account fee | $0 | CA$0 |
| Markets | Stocks, ETFs, Options, Bonds, Funds, Futures, Forex | Stocks, ETFs, Options, Crypto, Futures |
| Margin rate | 12.375% | 3.95%Lower |
| Options contract fee | $0.65 | CA$0 |
| Account types | IRA, Roth IRA, Joint | Joint, Corporate |
| Inactivity fee | $0 | Not confirmed |
| Regulators | SEC, FINRA, SIPC | Not confirmed |
| Investor protection | SIPC up to USD 500,000 | Not confirmed |
| Interest on cash | Not confirmed | 1.25% |
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Key differences
- Fidelity scores higher overall: 9.5 vs 9.4.
- Margin rate is lower at Wealthsimple: 3.95% vs 12.375%.
- Markets: only Fidelity offers Bonds, Funds, Forex.
- Markets: only Wealthsimple offers Crypto.
- Account types: only Fidelity offers IRA, Roth IRA.
- Account types: only Wealthsimple offers Corporate.
- Support channels: only Fidelity offers Community.
- Support channels: only Wealthsimple offers Chat, Email, Help centre.
- Features: only Fidelity offers Demo account, Options, Futures.
Our verdict on each
Fidelity
Fidelity is a US brokerage that suits investors who want to hold and trade without a standing charge: its minimum deposit, account fee and inactivity fee all sit at $0, $0 and $0. Stock dealing is commission-free, with SIPC protection recorded as SIPC up to USD 500,000.
Wealthsimple
Wealthsimple serves Canadian beginners and experienced investors who want self-directed trading and managed portfolios in a single app. The minimum deposit is CAD 0, the stock trade fee is CAD 0 and the account fee is CAD 0, while the UK is not among its markets (stocks, etfs and options).
Score breakdown
| Area | Fidelity | Wealthsimple |
|---|---|---|
| Cost | 9.1Site ranks it 1 of 138 on account fee and 1 of 161 on stock trade fee. | 9.6HigherMinimum deposit of CAD 0, stock trade fee of CAD 0, options contract fee of CAD 0 and account fee of CAD 0. |
| Offer | 9.5Higher | 9.2Managed portfolios charge 0.5% and start at CAD 1, with cash earning 1.25%. |
| Trust | 9.8 | Not confirmed |
How they place
| Ranking | Fidelity | Wealthsimple |
|---|---|---|
| Stock and ETF brokers | 37 of 490 | 53 of 490 |
| Options trading platforms | 9 of 103 | 17 of 103 |
| Futures trading platforms | 10 of 83 | 13 of 83 |
| Margin trading brokers | 5 of 22 | 8 of 22 |
| Brokers for beginners | 12 of 88 | 21 of 88 |
| Robo-advisors | 12 of 153 | 15 of 153 |
Choosing between them
Pick Fidelity if offer matter most.
Pick Wealthsimple if cost and margin rate matter most.
Sources behind this comparison
Fidelity
- brokerage-review.com: 6 facts, checked September 26, 2026
- editorialge.com: 5 facts, checked September 26, 2026
- en.wikipedia.org: 4 facts, checked September 26, 2026
- fidelity.com: 1 fact, checked September 26, 2026
- sipc.org: 1 fact, checked September 26, 2026
Wealthsimple
- wealthsimple.com: 13 facts, checked September 26, 2026
- help.wealthsimple.com: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | Fidelity | Wealthsimple |
|---|---|---|
| Features | Fractional shares, Demo account, Mobile app, Crypto, Options, FuturesCovers more | Crypto, Fractional shares, Mobile app |
| Pricing model | Commission free | Commission free |
| Audience | Beginners, Experienced | Beginners, Experienced |
| Legal entity | FIDELITY BROKERAGE SERVICES LLC | Wealthsimple Technologies Inc. |
| Headquarters | United States | Canada |
| Founded | 1946 | Not confirmed |
| Support channels | Phone, Community | Chat, Email, Phone, Help centre |
Robo-advisors
| Fact | Fidelity | Wealthsimple |
|---|---|---|
| Management fee | Not confirmed | 0.5% |
| Minimum investment | Not confirmed | CA$1 |
| Portfolio types | ETF, ESG, Crypto | ETF, Cash, Crypto |
Where each stands against the rest
| Fact | Fidelity | Wealthsimple | Median |
|---|---|---|---|
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Margin rate | 12.375%highest quarter | 3.95%lowest quarter | 8.79% |
| Interest on cash | Not confirmed | 1.25%lowest quarter | 3% |
Median across 36 listed brokers.
Pros and cons
Fidelity
Pros
- Costs sit at the floor: stock trade fee $0, account fee $0, inactivity fee $0 and minimum deposit $0
- The client entity is listed on the SIPC register as SIPC member 23292, with protection recorded at SIPC up to USD 500,000
- Account types cover retirement and shared holdings: ira, roth ira and joint
Cons
- Support runs on phone and community only, so that list carries no chat or email channel
- Options contracts cost $0.65 each, the main charge where stock dealing is free
- Margin borrowing is priced at 12.375%, a cost on top of the free equity dealing
Wealthsimple
Pros
- Stock trade fee of CAD 0 on a commission-free model across self-directed accounts
- Minimum deposit of CAD 0, so an account opens with a small sum
- Managed portfolios charge a management fee of 0.5% and start at CAD 1
Cons
- The UK and Europe are not among its markets (stocks, etfs and options), so a reader there would need a different broker
- Managed portfolios carry a management fee of 0.5% on top of CAD 0 self-directed trades
- Margin is available at a margin rate of 3.95%, which amplifies losses on a levered position
Who each suits
Fidelity
Who it suits
- Retirement savers, since ira, roth ira and joint are all listed as account types
- Buyers investing small amounts, as fractional shares sit in fractional shares, demo account and mobile app
- Traders who want stocks, bonds, funds, options, futures and forex in one place, as stocks, etfs and options shows
Who should look elsewhere
- Traders who want CFDs, since stocks, etfs and options leaves them out and CFI lists stocks, etfs and forex
- Anyone who prefers a required opening deposit, since $0 sets none where Vantage asks $5
Wealthsimple
Who it suits
- Canadian beginners putting money away in a managed portfolio
- Canadian investors buying fractional shares in a mobile app
- Experienced traders wanting stocks, ETFs, options, crypto and futures in a single account
Who should look elsewhere
- UK or EU readers, who should look at CFI, eToro or Vantage instead
- Traders who want a forex and CFD range, since stocks, etfs and options omits both
- Anyone seeking an ISA, SIPP or similar tax-sheltered wrapper, since neither is among its account types (joint and corporate)
Country by country
| Country | Fidelity | Wealthsimple |
|---|---|---|
| United States | Yes | No |
Questions about each
Fidelity
What does it cost to trade stocks at Fidelity?+
Stock dealing is commission-free, with a stock trade fee of $0. The account fee is $0 and the minimum deposit is $0, so there is no standing charge to hold the account. Options contracts are the exception, at $0.65 each.
Is there an inactivity fee if I stop trading?+
The inactivity fee is $0, so an idle account is not charged for sitting still. On the site it ranks 1 of 56 brands measured for that fee. With the account fee at $0, a dormant account carries no listed running cost.
Wealthsimple
What does it cost to trade stocks at Wealthsimple?+
The stock trade fee is CAD 0 and the account fee is CAD 0. Options contracts carry a fee of CAD 0. Cash earns interest of 1.25%. Managed portfolios are the part that still charges, at a management fee of 0.5%.
Is there a minimum deposit or account fee?+
The minimum deposit is CAD 0 and the account fee is CAD 0, so opening an account costs nothing. Managed portfolios ask for a minimum investment of CAD 1. Brands across the site typically ask €4.64 to start.
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