Updated September 28, 2026 · BrokerCue Editorial Team
tastytrade vs Wealthsimple
What sets them apart
| Compare |  tastytrade |  Wealthsimple |
|---|---|---|
| Minimum deposit | $0 | CA$0 |
| Stock trade fee | $0 | CA$0 |
| Markets | Stocks, ETFs, Forex, Options, Futures, CryptoCovers more | Stocks, ETFs, Options, Crypto, Futures |
| Options contract fee | $1 | CA$0 |
| Account types | IRA, Joint | Joint, Corporate |
| Account fee | Not confirmed | CA$0 |
| Regulators | SIPC | Not confirmed |
| Investor protection | SIPC up to USD 500,000 | Not confirmed |
| Margin rate | Not confirmed | 3.95% |
| Platforms | Mobile, Desktop, Web | Not confirmed |
| Interest on cash | Not confirmed | 1.25% |
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Key differences
- Wealthsimple scores higher overall: 9.4 vs 9.0.
- Markets: only tastytrade offers Forex.
- Account types: only tastytrade offers IRA.
- Account types: only Wealthsimple offers Corporate.
- Features: only Wealthsimple offers Fractional shares.
Our verdict on each
tastytrade
tastytrade suits traders who want options, futures and crypto in the same account as shares and ETFs, and it suits anyone starting small. The minimum deposit is $0, share dealing costs $0 a trade, and options cost $1 a contract, so the bill grows only if you trade derivatives.
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 | tastytrade | Wealthsimple |
|---|---|---|
| Cost | 9.1The commission free model keeps equity dealing cheap, but the options contract fee of $1 is the line heavy option traders watch. | 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 | 9.4Higher | 9.2Managed portfolios charge 0.5% and start at CAD 1, with cash earning 1.25%. |
| Trust | 8.6 | Not confirmed |
Positions in our rankings
| Ranking | tastytrade | Wealthsimple |
|---|---|---|
| Stock and ETF brokers | 150 of 471 | 62 of 471 |
| Options trading platforms | 53 of 103 | 18 of 103 |
| Futures trading platforms | 38 of 82 | 15 of 82 |
Availability and regulation
| Country | tastytrade | Wealthsimple |
|---|---|---|
| United States | SIPC SIPC member 69649 | Not confirmed |
Side by side, item by item
| Markets | tastytrade | Wealthsimple |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | No |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| Crypto | Yes | Yes |
| Account types | tastytrade | Wealthsimple |
|---|---|---|
| IRA | Yes | No |
| Joint | Yes | Yes |
| Corporate | No | Yes |
What we checked
tastytrade
- tastytrade.com: 8 facts, checked September 26, 2026
- sipc.org: 3 facts, 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 | tastytrade | Wealthsimple |
|---|---|---|
| Features | Crypto, Mobile app | Crypto, Fractional shares, Mobile appCovers more |
| Pricing model | Commission free | Commission free |
| Audience | Not confirmed | Beginners, Experienced |
| Legal entity | TASTYTRADE INC | Wealthsimple Technologies Inc. |
| Headquarters | Not confirmed | Canada |
| Support channels | Not confirmed | Chat, Email, Phone, Help centre |
Robo-advisors
| Fact | tastytrade | 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 | tastytrade | Wealthsimple | Median |
|---|---|---|---|
| Account fee | Not confirmed | CA$0below the median | CA$79.90 |
| Margin rate | Not confirmed | 3.95%lowest quarter | 8.75% |
| Interest on cash | Not confirmed | 1.25%lowest quarter | 3% |
Median across 43 listed brokers.
Pros and cons
tastytrade
Pros
- Share dealing costs $0 a trade, and the account opens from $0.
- All of stocks, etfs and forex sit under the same account.
- Protection is recorded as SIPC up to USD 500,000, with membership logged as SIPC member 69649.
Cons
- Options cost $1 a contract, so regular contract buyers pay more than occasional ones.
- The recorded account types under ira and joint are an IRA and a joint account.
- In the stock comparison, 72.03% of retail accounts lose money.
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
tastytrade
Who it suits
- Traders who want options and futures in the same account as shares and ETFs.
- Anyone starting small, since the minimum deposit is $0.
- People saving into an IRA who also want crypto and forex nearby.
Who should look elsewhere
- eToro if you want CFDs listed alongside the core markets: stocks, etfs and forex.
- CFI if you want the shorter list in stocks, etfs and forex, which ends at crypto.
- Vantage if you would rather start above the floor, since its minimum deposit is $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 | tastytrade | Wealthsimple |
|---|---|---|
| United States | Yes | No |
Questions about each
tastytrade
Is there a minimum deposit to open a tastytrade account?+
The minimum deposit is $0, so an account can be opened and funded with whatever you want to start on. Share dealing then costs $0 a trade, which keeps the running cost close to the opening balance.
What does an options contract cost?+
Options are charged per contract at $1. If you buy options often, that fee becomes the main line you track, while share dealing stays at $0. Traders who touch options now and then will feel it far less than regular contract buyers.
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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