Questrade vs WealthSimple | Which One is BEST FOR YOU?



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In this video, I’ll compare Questrade vs WealthSimple, so you can better decide, which one is right for you? Choosing between WealthSimple vs Questrade is not easy as they might seem identical. You want to make sure you choose the best brokerage (Questrade vs WealthSimple) account in Canada, so you can achieve your investment goals.

If you’ve decided to try out online investing and have narrowed down your choices to Wealthsimple vs Questrade Canada —congratulations. I will detail the differences between Questrade and Wealthsimple to help you choose the best service for you.

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0:00 Intro
1:03 Overview
2:36 Types of Accounts
3:15 Fees
4:00 Minimum Investments
5:24 Instant Deposit
6:40 Are They Safe?
7:11 Which One to Choose?

When deciding between Questrade vs WealthSimple, which one is better for your TFSA, RRSP or RESP? look at WealthSimple vs Questrade in terms of fees, which one is the most cost effective

Wealthsimple is my choice for automated robo-advisor investing, this platform is known as WealthSimple Invest. Also offers a DIY option for those looking to manage their own money with a commission-free online brokerage platform known as WealthSimple Trade

Questrade on the other hand is the undisputed choice of online brokerage for active traders who want to save on fees while getting access to robust market data and research capabilities

WealthSimple Trade only supports 3 main account types, the TFSA, RRSP and Non-Registered Account. Questrade supports a variety of accounts and specialty accounts such as a LIRA, RESP, and Margin Account

WealthSimple has limitations both in terms of what you can trade and what accounts you can open, the big plus is fees, which is hard to beat since it’s 0. WealthSimple, does not have a minimum account balance requirement, you can start with as little as you like. For a Questrade trading account, you need a minimum balance of $1,000 to start trading

Both Questrade and WealthSimple offer instant deposit, which means you don’t have to wait for your funds to settle before you can start trading. Trading accounts with Questrade and Wealthsimple Trade are protected against insolvency through the Canadian Investor Protection Fund (CIPF)

Make sure to watch my WealthSimple Trade Tutorial to learn how you can get started with trading through WealthSimple. You’re go to option will either be WealthSimple Invest or WealthSimple Trade depending on if you want to DIY or use a robo-advisor

With Questrade you can take advantage of the Questreade Margin account for day trading, you can also use Questrade for options trading. If you are only looking to trade Canadian stocks, then WealthSimple trade may be your best bet to take full advantage of zero trading fees

Wealthsimple offers a powerful app for both android and iOS but a more basic desktop solution. With Questrade, you get a more power desktop solution but a more basic android and iOS app. Questrade for beginners can be a great starting point for your financial journey. While WealthSimple for beginners also offers a powerful suite of options albeit limited outside stocks and ETFs

Disclaimer: This channel is for education purposes only and opinions expressed in this video are based on personal research and should be treated as such. These are not instructions, suggestions, nor directions as to how to handle your money. The facts and figures presented in this video are up-to-date based on the recording. These may have changed based on when you watch the video Please, always do your own due diligence!
#WealthSimple #Questrade #BuildingWealth

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