Updated September 28, 2026 · BrokerCue Editorial Team
Public vs Wealthsimple
What sets them apart
| Compare |  Public |  Wealthsimple |
|---|---|---|
| Minimum deposit | $0 | CA$0 |
| Stock trade fee | $0 | CA$0 |
| Markets | Stocks, ETFs, Crypto, Options, Bonds | Stocks, ETFs, Options, Crypto, Futures |
| Margin rate | 4.2% | 3.95%Lower |
| Options contract fee | $0.060 to $0.18 | CA$0 |
| Account types | IRA, Roth IRA | Joint, Corporate |
| Interest on cash | 3.3%Higher | 1.25% |
| Account fee | Not confirmed | CA$0 |
| Regulators | FINRA, SEC | Not confirmed |
| Investor protection | SIPC up to USD 500,000 | Not confirmed |
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Key differences
- Margin rate is lower at Wealthsimple: 3.95% vs 4.2%.
- Markets: only Public offers Bonds.
- Markets: only Wealthsimple offers Futures.
- Account types: only Public offers IRA, Roth IRA.
- Account types: only Wealthsimple offers Joint, Corporate.
- Interest on cash is higher at Public: 3.3% vs 1.25%.
- Support channels: only Wealthsimple offers Chat, Phone.
- Features: only Public offers Options.
Our verdict on each
Public
Public suits people building a retirement account who care most about what a trade costs and where the money sits. Stock trades are $0, the account opens from $0, and protection runs to SIPC up to USD 500,000 in the US.
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 | Public | Wealthsimple |
|---|---|---|
| Cost | 9.6Stock trades cost $0, options contracts run $0.06 to $0.18 and margin borrowing starts at 4.2%. | 9.6Minimum deposit of CAD 0, stock trade fee of CAD 0, options contract fee of CAD 0 and account fee of CAD 0. |
| Offer | 9.2A ira and roth ira account covers stocks, etfs and crypto plus a mobile app and fractional shares. | 9.2Managed portfolios charge 0.5% and start at CAD 1, with cash earning 1.25%. |
| Trust | 9.5 | Not confirmed |
Where they rank in our lists
| Ranking | Public | Wealthsimple |
|---|---|---|
| Stock and ETF brokers | 49 of 490 | 53 of 490 |
| Options trading platforms | 15 of 103 | 17 of 103 |
| Margin trading brokers | 7 of 22 | 8 of 22 |
A third option
Nexo has interest on cash at 13%, against 3.3% for Public and 1.25% for Wealthsimple.
Nexo reviewEvery fact side by side
| Fact | Public | Wealthsimple |
|---|---|---|
| Features | Crypto, Fractional shares, Options, Mobile appCovers more | Crypto, Fractional shares, Mobile app |
| Pricing model | Commission free | Commission free |
| Audience | Not confirmed | Beginners, Experienced |
| Legal entity | Open to the Public Investing, Inc. | Wealthsimple Technologies Inc. |
| Headquarters | Not confirmed | Canada |
| Support channels | Email, Help centre | Chat, Email, Phone, Help centreCovers more |
Robo-advisors
| Fact | Public | Wealthsimple |
|---|---|---|
| Management fee | Not confirmed | 0.5% |
| Minimum investment | Not confirmed | CA$1 |
| Portfolio types | Not confirmed | ETF, Cash, Crypto |
Where each stands against the rest
| Fact | Public | Wealthsimple | Median |
|---|---|---|---|
| Account fee | Not confirmed | CA$0below the median | CA$60 |
| Margin rate | 4.2%lowest quarter | 3.95%lowest quarter | 8.79% |
| Interest on cash | 3.3%above the median | 1.25%lowest quarter | 3% |
Median across 34 listed brokers.
Pros and cons
Public
Pros
- Stock trades cost $0, so a regular monthly purchase is not eaten by commission.
- The account opens from $0, which is below the €4.64 typical minimum across the brokers on our data.
- Cash parked in the high-yield account earns 3.3% while it waits to be invested.
Cons
- Options contracts add a fee of $0.06 to $0.18 each, on top of the premium you pay for the option itself.
- Margin borrowing runs at 4.2%, so borrowed positions carry an interest charge that keeps accruing.
- Support runs on email and help centre only, so there is no phone line for questions about a transfer or a tax form.
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
Public
Who it suits
- You are saving for retirement in the US and want commission-free stock trades in one account
- You want to hold spare cash at a stated rate while you decide what to buy
- You are starting with small amounts and want fractional shares rather than whole shares
Who should look elsewhere
- You need forex, CFDs or futures, which CFI and eToro both list in stocks, etfs and forex and stocks, etfs and forex
- You want a UK ISA or SIPP wrapper, neither of which appears in ira and roth ira
- You want to talk to a broker on the phone, since support covers email and help centre
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)
Current offers
Public
Current offer
Bonus
Transfer your portfolio. Earn an uncapped 1% match.: 1% match
Source, checked September 26, 2026
Country by country
| Country | Public | Wealthsimple |
|---|---|---|
| United States | Yes | No |
Questions about each
Public
Is Public really commission free for stock trades?+
Yes. A stock trade costs $0, so buying shares itself carries no charge. The costs sit elsewhere: options contracts cost $0.06 to $0.18 each, and margin borrowing runs at 4.2%. A simple monthly share purchase only pays the trade charge of $0.
What is the minimum deposit at Public?+
The minimum deposit is $0, so an account can be opened and funded from a very small amount. That is well under the €4.64 typical minimum across the brokers on our data, where the upper quartile sits at €87.70. No threshold has to be cleared before the first trade.
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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