Updated September 29, 2026 · BrokerCue Editorial Team
Robinhood vs Wealthsimple
What sets them apart
| Compare |  Robinhood |  Wealthsimple |
|---|---|---|
| Minimum deposit | $0 | CA$0 |
| Stock trade fee | $0 | CA$0 |
| Account fee | $0 | CA$0 |
| Options contract fee | $0 | CA$0 |
| Account types | IRA, Roth IRA, Joint | Joint, Corporate |
| Inactivity fee | $0 | Not confirmed |
| Regulators | Bank of Lithuania (LSC), LT BL, SIPC | Not confirmed |
| Investor protection | EU ICS up to EUR 20,000 | Not confirmed |
| Deposit and withdrawal fees | $100 outgoing transfer | Not confirmed |
| Platforms | Robinhood app, Robinhood Legend | Not confirmed |
| Maximum retail leverage | 10X | Not confirmed |
| Interest on cash | Not confirmed | 1.25% |
Same on both: Markets (Stocks, ETFs, Options, Futures, Crypto), Margin rate (3.95%).
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Key differences
- Account types: only Robinhood offers IRA, Roth IRA.
- Account types: only Wealthsimple offers Corporate.
- Features: only Robinhood offers Options, Futures.
- Pricing model: only Robinhood offers Low fees.
- Audience: only Robinhood offers Day traders.
- Audience: only Wealthsimple offers Experienced.
Our verdict on each
Robinhood
Robinhood suits first-time investors and small, regular investors who want nothing charged for holding or trading. It is the cheapest way in on our data, with a minimum deposit of $0, no account fee and no inactivity charge, under the Bank of Lithuania and SIPC.
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 | Robinhood | Wealthsimple |
|---|---|---|
| Cost | 9.6Stock trades cost $0, options contracts $0, the account fee is $0 and inactivity is $0. | 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 | 9.3Higher | 9.2Managed portfolios charge 0.5% and start at CAD 1, with cash earning 1.25%. |
| Trust | 9.3 | Not confirmed |
Feature by feature
| Markets | Robinhood | Wealthsimple |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| Crypto | Yes | Yes |
| Account types | Robinhood | Wealthsimple |
|---|---|---|
| IRA | Yes | No |
| Roth IRA | Yes | No |
| Joint | Yes | Yes |
| Corporate | No | Yes |
What we checked
Robinhood
- finder.com: 7 facts, checked September 26, 2026
- esma.europa.eu: 4 facts, checked September 26, 2026
- mymillennialguide.com: 4 facts, checked September 26, 2026
- financer.com: 2 facts, checked September 26, 2026
- robinhood.com: 1 fact, checked September 26, 2026
Wealthsimple
- wealthsimple.com: 13 facts, checked September 26, 2026
- help.wealthsimple.com: 1 fact, checked September 26, 2026
How they place
| Ranking | Robinhood | Wealthsimple |
|---|---|---|
| Stock and ETF brokers | 13 of 490 | 53 of 490 |
| Options trading platforms | 1 of 103 | 17 of 103 |
| Futures trading platforms | 3 of 83 | 13 of 83 |
| Margin trading brokers | 2 of 22 | 8 of 22 |
| Brokers for beginners | 6 of 88 | 21 of 88 |
Every fact side by side
| Fact | Robinhood | Wealthsimple |
|---|---|---|
| Features | Crypto, Fractional shares, Options, Futures, Mobile appCovers more | Crypto, Fractional shares, Mobile app |
| Pricing model | Commission free, Low feesCovers more | Commission free |
| Audience | Beginners, Day traders | Beginners, Experienced |
| Legal entity | Robinhood Europe UAB | Wealthsimple Technologies Inc. |
| Headquarters | Lithuania | Canada |
| Founded | 2013 | Not confirmed |
| Support channels | Not confirmed | Chat, Email, Phone, Help centre |
Robo-advisors
| Fact | Robinhood | 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 | Robinhood | Wealthsimple | Median |
|---|---|---|---|
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Margin rate | 3.95%lowest 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
Robinhood
Pros
- Nothing to pay to open or hold an account, with an account fee of $0 and an inactivity fee of $0
- Trading a share costs $0, so a small first order is not eaten by commission
- You can start with a deposit of $0, lower than most brands on our data
Cons
- Leverage is available at 10X, which magnifies losses as well as gains
- Outgoing transfers carry a charge of $100 outgoing transfer
- Margin borrowing is priced at a margin rate of 3.95%, so interest adds to your cost
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
Robinhood
Who it suits
- Beginners opening a first account with a small deposit
- Day-traders working in options, futures and crypto on mobile
- Retirement investors using an IRA, Roth IRA or joint account
Who should look elsewhere
- Vantage if a flat minimum deposit of $5 suits you better
- CFI if you want forex and CFDs alongside shares, since its markets cover stocks, etfs and forex
- eToro if social copy trading matters more than options and futures
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
Robinhood
What does it cost to trade shares on Robinhood?+
Trading a share costs $0, and an options contract costs $0. There is also an account fee of $0 and an inactivity fee of $0, so nothing is taken for simply holding the account open. Borrowing on margin is charged at a margin rate of 3.95%, which is the main running cost if you use leverage.
Is there a minimum deposit to open a Robinhood account?+
The minimum deposit is $0, so you can open an account and place a small first order without funding a large balance. It is worth comparing that with the deposits other brands ask for before you commit, since the figure varies widely across the market. Outgoing transfers are charged at $100 outgoing transfer, so factor that in if you plan to move money out early.
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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