Updated September 29, 2026 · BrokerCue Editorial Team
Interactive Brokers vs Wealthsimple
Where Interactive Brokers and Wealthsimple differ
| Compare |  Interactive Brokers |  Wealthsimple |
|---|---|---|
| Minimum deposit | $0 | CA$0 |
| Stock trade fee | $0 | CA$0 |
| Markets | Bonds, ETFs, Forex, Funds, Futures, Options, Stocks | Stocks, ETFs, Options, Crypto, Futures |
| Margin rate | 4.38% | 3.95%Lower |
| Options contract fee | $0.65 | CA$0 |
| Account types | ISA, SIPP, IRA, Joint, CorporateCovers more | Joint, Corporate |
| Interest on cash | 3.38%Higher | 1.25% |
| Account fee | Not confirmed | CA$0 |
| Regulators | SEC, FCA, SIPC | Not confirmed |
| Investor protection | SIPC up to USD 500,000 | Not confirmed |
| Platforms | Client Portal, IBKR Desktop, IBKR Mobile, Trader Workstation | Not confirmed |
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Key differences
- Interactive Brokers scores higher overall: 9.6 vs 9.4.
- Margin rate is lower at Wealthsimple: 3.95% vs 4.38%.
- Markets: only Interactive Brokers offers Bonds, Forex, Funds.
- Markets: only Wealthsimple offers Crypto.
- Account types: only Interactive Brokers offers ISA, SIPP, IRA.
- Interest on cash is higher at Interactive Brokers: 3.38% vs 1.25%.
- Support channels: only Interactive Brokers offers Community.
- Support channels: only Wealthsimple offers Chat, Email, Phone.
- Features: only Wealthsimple offers Crypto.
- Pricing model: only Interactive Brokers offers Low fees.
Our verdict on each
Interactive Brokers
Interactive Brokers suits investors who want a single account across ISA, SIPP, IRA, joint and corporate holdings, with stocks, bonds, funds, forex, options and futures behind it. It ranks 1 of 213 brands on minimum deposit at $0, and stock trades are charged at $0.
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 | Interactive Brokers | Wealthsimple |
|---|---|---|
| Cost | 9.3Stock trades cost $0, the minimum deposit is $0 and an options contract costs $0.65. | 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 | 9.6HigherAccount types cover isa, sipp and ira, and the market list spans bonds, etfs and forex. | 9.2Managed portfolios charge 0.5% and start at CAD 1, with cash earning 1.25%. |
| Trust | 9.8 | Not confirmed |
Side by side, item by item
| Markets | Interactive Brokers | Wealthsimple |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | No |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| Crypto | No | Yes |
| Bonds | Yes | No |
| Funds | Yes | No |
| Account types | Interactive Brokers | Wealthsimple |
|---|---|---|
| ISA | Yes | No |
| SIPP | Yes | No |
| IRA | Yes | No |
| Joint | Yes | Yes |
| Corporate | Yes | Yes |
Which one suits you
Pick Interactive Brokers if offer, account types, and interest on cash matter most.
Pick Wealthsimple if cost and margin rate matter most.
If neither fits
Nexo has interest on cash at 13%, against 3.38% for Interactive Brokers and 1.25% for Wealthsimple.
Nexo reviewHow they place
| Ranking | Interactive Brokers | Wealthsimple |
|---|---|---|
| Stock and ETF brokers | 35 of 490 | 53 of 490 |
| Options trading platforms | 7 of 103 | 17 of 103 |
| Futures trading platforms | 8 of 83 | 13 of 83 |
| Margin trading brokers | 4 of 22 | 8 of 22 |
| Robo-advisors | 10 of 153 | 15 of 153 |
Every fact side by side
| Fact | Interactive Brokers | Wealthsimple |
|---|---|---|
| Features | Fractional shares, Mobile app | Crypto, Fractional shares, Mobile appCovers more |
| Pricing model | Commission free, Low feesCovers more | Commission free |
| Audience | Not confirmed | Beginners, Experienced |
| Legal entity | INTERACTIVE BROKERS LLC | Wealthsimple Technologies Inc. |
| Headquarters | United States | Canada |
| Founded | 1978 | Not confirmed |
| Support channels | Help centre, Community | Chat, Email, Phone, Help centre |
Robo-advisors
| Fact | Interactive Brokers | Wealthsimple |
|---|---|---|
| Management fee | Not confirmed | 0.5% |
| Minimum investment | Not confirmed | CA$1 |
| Portfolio types | ETF | ETF, Cash, CryptoCovers more |
Where each stands against the rest
| Fact | Interactive Brokers | Wealthsimple | Median |
|---|---|---|---|
| Account fee | Not confirmed | CA$0below the median | CA$60 |
| Margin rate | 4.38%below the median | 3.95%lowest quarter | 8.79% |
| Interest on cash | 3.38%above the median | 1.25%lowest quarter | 3% |
Median across 34 listed brokers.
Pros and cons
Interactive Brokers
Pros
- A stock trade costs $0 and the minimum deposit is $0, the pairing behind rank 1 of 161 on stock trade fees among the brokers tracked here.
- The account types listed cover isa, sipp and ira, so an ISA, SIPP, IRA, joint or corporate account all sit under a single provider.
- bonds, etfs and forex puts stocks, ETFs, bonds, funds, forex, options and futures on the same account, with a margin rate of 4.38% for geared positions.
Cons
- Support runs on help centre and community, so a phone line and live chat sit outside the offer.
- bonds, etfs and forex covers shares, ETFs, bonds, funds, forex, options and futures but leaves out crypto and CFDs, which eToro lists in stocks, etfs and forex.
- An options contract costs $0.65 against a stock trade at $0, so options strategies pay a visible premium per contract.
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
Interactive Brokers
Who it suits
- Investors holding money across several wrappers, since the account types listed cover isa, sipp and ira.
- Traders who want options, futures, forex and bonds alongside shares on a single account, per bonds, etfs and forex.
- Anyone starting with a small balance: the minimum deposit is $0 and fractional shares appear in the feature list (fractional shares and mobile app).
Who should look elsewhere
- Anyone who trades crypto or CFDs, since bonds, etfs and forex leaves both out while eToro lists them in stocks, etfs and forex.
- Readers who want a stated entry figure as a signal of the provider's target size, since Vantage publishes $5 where this broker's minimum is $0.
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)
Questions about each
Interactive Brokers
What does it cost to trade shares?+
A stock trade is charged at $0 and the minimum deposit is $0, so opening an account and dealing in shares carry no charge. The money sits in derivatives and leverage instead, where an options contract costs $0.65 and the margin rate is listed at 4.38%.
Is my money protected?+
The regulatory list runs to SEC, FCA and SIPC, and investor protection is stated as SIPC up to USD 500,000. The UK entry is the FCA under licence 208159, while the US side names the SEC and the SIPC membership SIPC member 53615. The protection figure describes the scheme stated for the account and says nothing about how a trade performs.
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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