Wealthsimple, Questrade, Webull, Moomoo and TD Direct, side by side.

How this comparison was built, and what it leaves out

Each figure below comes from the named broker’s own fee schedule, help centre or legal page, read on October 19, 2026. Where a page carries a visible date, it is quoted. Where two official pages from the same broker disagree, the row says so instead of picking one. Regulatory status for all five rests on each firm’s own disclosure plus the CIPF member directory, which lists Wealthsimple Investments Inc., Questrade, Inc., Webull Securities (Canada) Limited, Moomoo Financial Canada Inc. and TD Waterhouse Canada Inc. as investment dealer members. Crypto assets are outside CIPF coverage everywhere.

Left out on purpose: star ratings, app-store scores, execution-quality claims and any “best for” verdict. Those need measurements this site has not made. Managed portfolios, robo-advice tiers, margin rates and market-data subscriptions are mentioned only where they change a row. TD Easy Trade, TD’s app-only product with 100 free trades a year, is noted separately where it differs from TD Direct Investing.

Trading commissions: three zeros, one per-share rate, one per-trade rate

Sources: Wealthsimple trade fees, Questrade transaction fees, Webull Canada pricing and its fee breakdown, Moomoo Canadian stock fees and U.S. stock fees, TD Direct Investing pricing and commission schedule. Fractional-share pages: Wealthsimple, Questrade, Webull, TD.

Three brokers publish a zero, but the zeros are not identical. Questrade passes through exchange fees on certain U.S. routes, which matter for large share counts of low-priced stock and almost not at all for an ETF buy. Webull’s zero on stocks has no end date; its options promotion does. Moomoo’s minimum is a per-order floor built from two components, so a C$300 ETF purchase costs C$1.49 and a C$15,000 purchase of a C$30 stock costs C$7.45. At TD, the published alternative is Easy Trade, where the first 100 trades a year are free and the 101st costs $9.99.

Currency conversion and holding U.S. dollars

Sources: Wealthsimple USD accounts and conversion, Questrade dual-currency accounts, Webull conversion fee and USD in each account, Moomoo currency exchange and deposit currencies by account, TD FX pricing.

A single $5,000 conversion, before the spread

Convert C$5,000 to U.S. dollars once. At a 1.5% charge the stated fee is C$75 at Wealthsimple, Questrade or Webull. At TD’s first band the stated spread is 1.26%, or C$63. At Moomoo the stated charge is zero. None of those numbers is the whole cost: every broker converts at a rate it sets, and that rate carries a spread that a stated percentage does not capture. The only reliable way to compare is to request a quote for the same amount at the same minute and compare the U.S. dollars received. Our conversion-cost guide walks through that, and the CAD/USD calculator handles the arithmetic for any two fee assumptions.

The holding question is often the bigger one. A reader who buys U.S. ETFs monthly inside a TFSA pays the conversion charge every month at Wealthsimple without the USD add-on, and once at Questrade, Webull or TD, where the account can keep U.S. dollars. At Moomoo the TFSA keeps USD but the RRSP does not.

Accounts, minimums and the fees that are not commissions

Sources: Wealthsimple trading account types and pricing, Questrade account types and administrative fees, Webull account types and legal disclosures, Moomoo account types and pricing, TD account selection and Direct Investing vs Easy Trade.

Two of these rows decide the question for many readers before commissions enter the picture. A first-time buyer who wants an FHSA cannot open one at Webull or Moomoo. A parent opening an RESP has the same two brokers removed. TD’s quarterly fee is the opposite kind of filter: it is easy to waive, but a reader with a small balance and no recurring deposit will pay $100 a year on an account that costs nothing to open.

Moving an account in or out

Sources: Wealthsimple transfer out and fee reimbursement, Questrade administrative fees and transfer-in rebate, Webull fee breakdown, Moomoo transfer-out fees and transfer promotion, TD commission schedule and Easy Cash offer.

Reimbursement thresholds are the detail that catches people. A $12,000 TFSA leaving Questrade for Wealthsimple pays Questrade’s $150 and gets nothing back, because Wealthsimple reimburses from $25,000. The same account going to Questrade from Webull pays Webull’s $150 plus tax and can claim Questrade’s rebate with proof inside 60 days. Direction and size change the answer; the break-even calculator turns a known fee into months of assumed savings, and the transfer checklist covers what to confirm before you request a move.

Referral and welcome offers, dated

Sources: Wealthsimple referral terms, Questrade refer-a-friend, Webull referral page, Moomoo referral campaign, TD Easy Cash offer.

This site shares a Wealthsimple code, PGVORW, under the standard $25 terms, and a Questrade code described in our Questrade referral guide. We have no codes for the other three. A larger headline amount is not a reason to choose a broker whose account types or conversion costs do not fit; the referral is the last row of this comparison for a reason. Note too that two of these campaigns end on October 31, 2026 and TD’s registration closes October 23, 2026; by the time you read this they may be gone.

Reaching a person

Wealthsimple lists 24/7 chat and a phone line, with priority phone service for Premium and Generation clients; its pricing page and help centre disagree on whether priority email starts at Premium or Generation. Questrade publishes chat and phone hours of 7:30 a.m. to 8 p.m. ET on weekdays and 10 a.m. to 4 p.m. on weekends, plus a Toronto walk-in centre. Webull Canada’s phone line runs 9 a.m. to 4:15 p.m. ET. Moomoo’s runs 8:30 a.m. to 4:30 p.m. ET on trading days with two Toronto-area storefronts. TD Direct Investing’s line is open 7 a.m. to 10 p.m. ET on weekdays with branch access, and Easy Trade offers phone support 24 hours a day, five days a week. Sources: Wealthsimple contact, Questrade support, Webull support hours, Moomoo support, TD comparison page.

Hours are not quality. Our support-route comparison explains how to prepare a request that gets answered; none of the five brokers was tested for response time here.

Where each broker’s rows point, without a winner

Read the tables by the row that matters most to you. If you buy Canadian ETFs in a TFSA or FHSA and never touch U.S. dollars, the commission row separates TD Direct Investing from the other four and the account row removes Webull and Moomoo for the FHSA. If you buy U.S. shares every month, the currency rows matter more than the commission rows: a broker that holds USD saves repeated conversions, and the stated percentage is only part of the cost. If you are moving a large account, the transfer rows and the dated offers may outweigh a year of commissions. If you want options, four brokers price them four different ways and TD Easy Trade does not offer them.

Two readers can look at the same tables and leave for different brokers, and both can be right. What the tables rule out is a choice made on a referral headline alone.

Frequently asked questions (FAQs)