---
title: Wealthsimple vs Scotia iTRADE (2026) Review
description: Compare Wealthsimple and Scotia iTRADE for Canadian investors in 2026. See fees, features, safety, pros & cons, and which is best for you.
---

*Updated for 2026 • Scotia iTRADE vs Wealthsimple*

# Wealthsimple vs. Scotia iTRADE

Compare Wealthsimple and Scotia iTRADE for Canadian investors in 2026. See fees, features, safety, pros & cons, and which is best for you.

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## About

### About Wealthsimple
I use Wealthsimple because $0 commissions changed the math entirely for me. I don't pay to build my portfolio, and it also serves as my main chequing account. It's a completely different experience from a bank brokerage.

### About Scotia iTRADE
Scotia iTRADE is Scotiabank's online brokerage. I looked into it mostly because I used to bank with Scotiabank. From my research, each trade costs $9.99, which I found hard to justify given free alternatives. The main draw I can see is if you're a Scotiabank customer and want everything in one banking relationship. Always verify current pricing at scotiabank.com.

## Comparison Table

| Feature | Wealthsimple | Scotia iTRADE |
| :--- | :--- | :--- |
| **Commission** | $0 on stocks/ETFs | $9.99 per trade |
| **Options** | $0.75–$2 USD/contract | $9.99 + $1.25/contract |
| **FX Fees** | 1.5% (waived with USD account) | ~1.5% (USD accounts available) |
| **Min Deposit** | $0 | $0 |
| **Platforms** | Mobile, Web | Web, Mobile, Advanced desktop |
| **Fractional Shares** | Yes (500+ stocks/ETFs) | No |
| **Account Types** | Personal, TFSA, RRSP, RESP, USD, more | Personal, TFSA, RRSP, RESP, USD, more |
| **Research Tools** | Basic charts, watchlists | Advanced research, screeners, analytics |
| **Safety** | CIRO regulated, CIPF up to $1M | CIRO regulated, CIPF up to $1M |
| **Support** | Chat, email, phone (priority for Premium) | Phone, chat, email, branch support |
| **Unique Features** | Robo-advisor, Cash account, Tax, Fractional shares | Bank integration, advanced research tools |

## Pros & Cons

### Wealthsimple Pros
- $0 commissions, no minimums
- Fractional shares
- Beginner-friendly app
- Unified ecosystem (robo, cash, tax)
- Great for new investors

### Wealthsimple Cons
- Limited advanced trading tools
- 15-min delayed quotes (free tier)
- No direct USD RRSP/TFSA (as of 2026)

### Scotia iTRADE Pros
- Seamless integration with Scotiabank banking
- Wide range of account types
- Advanced research tools included
- Branch support if you're a Scotiabank customer

### Scotia iTRADE Cons
- $9.99 per trade (based on my research — verify at scotiabank.com)
- No fractional shares (as far as I could find)
- Platform feels dated compared to Wealthsimple
- Options fees are higher

## Who Should Choose Which?

### Choose Wealthsimple if...
- I'd go with Wealthsimple if you want $0 commissions and no minimums. That eliminated bank brokerages like Scotia iTRADE from my list early on.

### Choose Scotia iTRADE if...
- In my opinion, Scotia iTRADE makes sense mainly if you're a committed Scotiabank customer who wants their investments inside the same banking relationship.
- Always verify current commissions and any fee waivers at scotiabank.com before signing up.

## Ready to Start Investing?

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