Updated September 28, 2026 · BrokerCue Editorial Team
Topstep vs Wealthsimple
Topstep vs Wealthsimple: the differences
| Compare |  Topstep |  Wealthsimple |
|---|---|---|
| Minimum deposit | $49 | CA$0 |
| Stock trade fee | $0.50 | CA$0 |
| Account fee | $0 | CA$0 |
| Markets | Futures | Stocks, ETFs, Options, Crypto, FuturesCovers more |
| Inactivity fee | $0 | Not confirmed |
| Regulators | National Futures Association (NFA) registered introducing broker, Topstep Brokerage LLC, Commodity Futures Trading Commission (CFTC) registered FCM / NFA member, Plus500US Financial Services LLC | Not confirmed |
| Investor protection | SIPC up to USD 500,000 | Not confirmed |
| Margin rate | Not confirmed | 3.95% |
| Options contract fee | Not confirmed | CA$0 |
| Deposit and withdrawal fees | 1% processing fee on debit card deposits and withdrawals; wire fee $10 outbound, $0 inbound | Not confirmed |
| Platforms | TopstepX | Not confirmed |
| Account types | Not confirmed | Joint, Corporate |
| Interest on cash | Not confirmed | 1.25% |
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Key differences
- Topstep scores higher overall: 9.5 vs 9.4.
- Markets: only Wealthsimple offers Stocks, ETFs, Options.
- Support channels: only Topstep offers Community.
- Features: only Topstep offers Demo account, Futures.
- Features: only Wealthsimple offers Crypto, Fractional shares, Mobile app.
- Pricing model: only Topstep offers Low fees.
- Pricing model: only Wealthsimple offers Commission free.
- Audience: only Wealthsimple offers Experienced.
Our verdict on each
Topstep
Topstep suits beginners who want a low-cost route into futures prop trading, pairing a challenge price of $49 with a profit split of 90% that is competitive without topping the table. The brokerage account adds an account fee of $0 and payouts Every 2 weeks, so it suits a funded account you plan to grow.
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 | Topstep | Wealthsimple |
|---|---|---|
| Cost | 9.4Account fees are $0, the inactivity fee is $0 and the challenge costs $49, against a site median of €56.56. | 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 | 9.7Higher90% paid Every 2 weeks on a 2 step evaluation, with markets limited to futures. | 9.2Managed portfolios charge 0.5% and start at CAD 1, with cash earning 1.25%. |
| Trust | 9.5 | Not confirmed |
What each covers
| Markets | Topstep | Wealthsimple |
|---|---|---|
| Stocks | No | Yes |
| ETFs | No | Yes |
| Options | No | Yes |
| Futures | Yes | Yes |
| Crypto | No | Yes |
Pick Topstep if, pick Wealthsimple if
Pick Topstep if offer matter most.
Pick Wealthsimple if markets matter most.
How they place
| Ranking | Topstep | Wealthsimple |
|---|---|---|
| Futures trading platforms | 12 of 83 | 13 of 83 |
| Brokers for beginners | 17 of 88 | 21 of 88 |
Sources behind this comparison
Topstep
- topstep.com: 8 facts, checked September 26, 2026
- topstepbrokerage.com: 5 facts, checked September 26, 2026
- nfa.futures.org: 2 facts, checked September 26, 2026
- help.topstepbrokerage.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
Every fact side by side
| Fact | Topstep | Wealthsimple |
|---|---|---|
| Features | Demo account, Futures | Crypto, Fractional shares, Mobile app |
| Pricing model | Low fees | Commission free |
| Audience | Beginners | Beginners, ExperiencedCovers more |
| Legal entity | Topstep LLC | Wealthsimple Technologies Inc. |
| Headquarters | United States | Canada |
| Founded | 2010 | Not confirmed |
| Support channels | Email, Chat, Phone, Help centre, CommunityCovers more | Chat, Email, Phone, Help centre |
Robo-advisors
| Fact | Topstep | 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 | Topstep | Wealthsimple | Median |
|---|---|---|---|
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Margin rate | Not confirmed | 3.95%lowest quarter | 8.79% |
| Options contract fee | Not confirmed | CA$0below the median | CA$0.90 |
| Interest on cash | Not confirmed | 1.25%lowest quarter | 3% |
Median across 36 listed brokers.
Pros and cons
Topstep
Pros
- Entry is priced at $49 for a 2 step evaluation, with a profit split of 90%.
- The brokerage account fee is $0 and the inactivity fee is $0, so an account left open does not slowly bleed money.
- Payouts arrive Every 2 weeks, a steadier rhythm than a single monthly cycle.
Cons
- The split of 90% leaves a share of profits with the firm, where Apex Trader Funding shares 100%.
- Markets are futures only, against 80.6% of the brands here that cover stocks.
- Topstep ranks 7 of 21 on challenge price, and Alpha Capital Group lists $27 for its own challenge.
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
Topstep
Who it suits
- Beginners testing futures prop trading, since beginners lists beginners and demo account and futures includes a demo account.
- Traders who want low running costs on a funded account: an account fee of $0, an inactivity fee of $0 and 90% kept of profits.
- Anyone weighing entry price against share, since Funding Pips runs challenge prices of $29 to $555, a different price point to Topstep's $49.
Who should look elsewhere
- Traders who want the whole profit, since Apex Trader Funding shares 100% against the 90% kept here.
- Anyone trading stocks, ETFs or crypto, because the market list is futures.
- Budget-first buyers, since Alpha Capital Group lists $27 for its challenge.
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
Topstep
Current offer
Discount code
Responsible Trading Advantage discounts: Up to $30/month
Add a Daily Loss Limit to unlock exclusive benefits, including larger payout caps and discounts on eligible accounts; listed as -$10 / -$20 / -$30 on the $50K / $100K / $150K accounts
Source, checked September 26, 2026
Discount code
Topstep Trading Combine monthly discount: -$10 to -$30
One-time activation fee paid after passing the Trading Combine; discount is shown alongside the eligible account price
Source, checked September 26, 2026
Questions about each
Topstep
How much does the Topstep challenge cost?+
The evaluation fee is $49, and the same figure is listed as the minimum deposit, so that is the outlay before any trading. For context, the median challenge price across the brands here is €56.56. A failed attempt means paying the fee again to try, so treat it as a cost of repeated attempts rather than a single ticket.
What profit do I keep and how quickly are payouts made?+
Once funded, you keep 90% of the profit, and payouts go out Every 2 weeks. The split is a percentage of profit rather than a flat fee, so a thin month does not eat into it. The cadence matters as much as the percentage for cash flow, since a good month reaches your account sooner with a frequent schedule.
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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