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Questrade vs Wealthsimple
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- Questrade leads
- 1
- Wealthsimple leads
- 2
- Level
- 5
Of 8 scored facts, Questrade leads on 1, Wealthsimple on 2, and 5 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  Questrade |  Wealthsimple |
|---|---|---|
| Fee per contract | US$0 per contract | US$0 per contract |
| Questrade, Canadian contracts CA$0.99; index contracts US$0.99 | Wealthsimple, Index contracts and FX priced separately | |
| Exercise and assignment | Exercise $24.95, assignment $0 | Free |
| Approval | Naked | Naked |
| Questrade, Up to naked short options | Wealthsimple, Up to naked short options | |
| 0DTE | Yes | Yes |
| Index options (SPX) | Yes | Yes |
| Options on futures | Not published | Not published |
| Spreads in an IRA | No | No |
| Portfolio margin | Not published | Not published |
| Margin rate | Not published | 4.95% |
| Platforms | Web, Desktop, MobileBest | Web, Mobile |
| Paper trading | No | Not published |
| 24/7 support | No | YesBest |
| Countries | Canadian residents; most US residents cannot open; most others margin accounts only | Canadian residents only |
| QuantWheel | Sync-only | Trade & SyncBest |
| Questrade, Reads the account; you place the orders | Wealthsimple, Reads the account and places the orders you approve | |
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.QuestradeUS$0 per contract · Exercise $24.95, assignment $0 · naked
Questrade opens options accounts for residents of Canada only. It charges US$0 per contract (Canadian contracts CA$0.99; index contracts US$0.99). Exercise costs $24.95, and assignment costs $0. It approves up to naked short options. It trades on Web, Desktop, Mobile. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.
WealthsimpleUS$0 per contract · free exercise · naked
Wealthsimple opens options accounts for residents of Canada only. It charges US$0 per contract (Index contracts and FX priced separately). Exercise and assignment are free. It approves up to naked short options. It trades on Web, Mobile. QuantWheel syncs positions and trades from the account and suggests; with Trade & Sync the orders you approve go to the broker from QuantWheel.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
- Questrade$0.01 a trade, under 0.1% of your premium
- $0.98 a year
- Wealthsimple$0.00 a trade, under 0.1% of your premium
- $0.00 a year
$0.98 a year less at Wealthsimple
Not counted because Questrade does not publish them: clearing fee, options regulatory fee, FINRA trading activity fee. Not counted because Wealthsimple does not publish them: clearing fee, options regulatory fee, SEC fee, FINRA trading activity fee.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
Questrade vs Wealthsimple