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Get $10,000 managed for free, or choose the lowest possible fees with these two 🤖 robo-advisors!

Below are two great robo-advisors that will help you start investing like a pro. Wealthsimple offers a great sleek interface, low fees, and offers a sweet sign-up bonus: they'll manage your first $10,000 for free. Questrade, another great Canadian robo-advisor, offer no sign-up bonus, but their industry lowest fees are hard to beat.

Depending on what your financial goals and investment amounts are, these are two great options to park your money and watch it grow. Both robo-advisors also offer RRSP and TFSA account options. Check out their features below.



Compare Accounts by Key Features


Wealthsimple
Questrade
Best for investors who value low fees and a super sleek user interface Best for investors looking for the absolute lowest fees
Average MER: 0.20% Average MER: 0.19%

0.50% on $0-$100K

0.40% on $100K+

0.25% on $0-$100K

0.20% on $100K+

Minimum Deposit: $0 Minimum Deposit: $1K
Sign-up Bonus: Get fisrt $10K managed for free Sign-up Bonus: $50 rebate on fees


Ready to choose?



Wealthsimple Questrade
Best for investors who value low fees and a super sleek user interface Best for investors looking for the absolute lowest fees
Get first $10K managed for free No bonus offers, but lowest fees


What is a robo-advisor anyway?

A robo-advisor is a financial product that builds a portfolio based upon your risk tolerance, financial goals and personal situation and then using a mathematical function creates a portfolio combined mostly of ETFs or exchange trade funds as well as other includes equities across a variety of industrial sectors and a mix between stocks and bonds.

In order to keep your portfolio healthy, your robo-advisor will choose to rebalance your portfolio periodically, however,the robo-advisor doesn’t buy or sell individual equities to achieve this goal. Instead, they trade exchange-traded funds (ETFs), investment vehicles that hold a variety of stocks that mimic a particular index or sector. So, the rebalancing process isn’t stock picking but an almost mathematical function of buying or selling ETFs, a far simpler process.

Compare the Best Robo-Advisors in Canada

If you'd like to learn more about the world of robo-advisors or wish to compare more options available to Canadian investors, check out our robo-advisor comparison chart

best robo advisors in canada