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The comparison reads the same evidence fields used by broker profiles, so users can scan scores, regulation, costs, platforms, withdrawals, and caveats side by side.

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Broker 2

VS field	Wealthsimple wealthsimple.com Stock BrokerETF BrokerOption	Fidelity fidelity.com Stock BrokerETF BrokerETF
Decision summary
Overall score

Trust score	88	100

Cost score	86	89

Platform score	94	94

Withdrawal score	89	89

Best for	Canadian residents wanting a simple app/web broker for stocks, ETFs, crypto and cash · Investors who value $0 stock/ETF commissions and integrated managed portfolios · Clients eli…	Evidence supports Fidelity as a U.S.-focused, highly regulated multi-asset broker for stocks, ETFs, mutual funds, bonds/CDs, options, cash management, managed portfolios, and sepa…

Watch out	Needs verification	Needs verification

Trust & regulation
Regulators	WSII is a CIRO member investment dealer; WSP is FINTRAC registered and registered with the Bank of Canada as a payment service provider; crypto relief/registration is under Canadian securities regulators. Source	Fidelity Brokerage Services LLC is SEC registered and regulated by FINRA; FBS and NFS are members of NYSE and SIPC. Source
License numbers	No numeric license/registration number was disclosed on the reviewed official Wealthsimple legal/help pages; WSII registration and CIRO membership are disclosed. Source	FBS CRD# 7784 / SEC# 8-23292; NFS CRD# 13041 / SEC# 801-50706, 8-26740. Source
Regulated entities	Wealthsimple brand includes Wealthsimple Investments Inc. (WSII), Wealthsimple Payments Inc. (WSP), and Wealthsimple Asset Management Inc. (WAMI). Source	Primary securities brokerage entities are Fidelity Brokerage Services LLC (FBS) and National Financial Services LLC (NFS), each member NYSE/SIPC; advisory and crypto entities differ by product. Source
Negative balance protection	No explicit negative balance protection policy found in reviewed official sources; futures and margin products can involve margin calls/losses beyond simple cash investment risk. Source	Not applicable/not disclosed as a CFD-style negative balance protection policy; margin trading can create debt/interest obligations. Source
Investor compensation	CIPF applies to eligible WSII investment accounts within limits; CDIC trust coverage up to CAD 1,000,000 for eligible chequing deposits; crypto assets themselves are not protected by CIPF/CDIC. Source	SIPC coverage up to $500,000/$250,000 cash plus Fidelity excess SIPC; FDIC sweep coverage may apply to eligible cash programs; important exclusions apply. Source
Restricted countries	Users must live in Canada; Wealthsimple is not licensed to hold accounts for individuals living outside Canada, including Canadian citizens abroad. Source	U.S.-persons focused; sanctioned countries/prohibited parties restricted; no exhaustive country availability list found. Source

Trust & regulation

Regulators

WSII is a CIRO member investment dealer; WSP is FINTRAC registered and registered with the Bank of Canada as a payment service provider; crypto relief/registration is under Canadian securities regulators.

Costs & account conditions
Minimum deposit	No general account minimum; investing can start with $1 for eligible fractional ETFs/stocks; private market fund as little as $10,000. Source	$0 to open a retail brokerage account; Fidelity states no account minimum and ability to invest with as little as $1; exceptions apply by account/product. Source
Spread from	Not disclosed as a securities spread; Wealthsimple discloses FX conversion fees/corporate exchange-rate spread and crypto trading fees instead. Source	Not applicable to Fidelity's core U.S. stock/ETF brokerage model; securities trade by exchange/market prices rather than quoted CFD/FX spreads. Source
Commission	Commission-free stocks/ETFs; product-specific fees apply for FX, crypto, futures, precious metals, some index options and special services. Source	$0 online U.S. stock and ETF trades; $0 online options commission plus $0.65/contract; other product/service fees apply. Source
Maximum leverage	Maximum leverage ratio is not disclosed in a simple maximum-leverage table; Wealthsimple offers margin with rates as low as 3.95%, and futures margin/leverage depends on exchange requirements and product. Source	No universal maximum leverage ratio disclosed for Fidelity retail brokerage; margin borrowing is available subject to approval and margin requirements/rates rather than a single max leverage figure. Source
Deposit fee	Bank transfer/EFT deposits are $0 according to the trade fee schedule. Source	$0 Fidelity fee for EFT and Fidelity does not charge wire fees; external banks may charge. Source
Withdrawal fee	Standard EFT withdrawals are free; instant withdrawals cost 2.5%; wires/network fees may apply. Source	$0 Fidelity fee for EFT and domestic bank wire withdrawals; foreign exchange wire up to 3% of principal; receiving bank may charge. Source
Inactivity fee	Inactive account fee is $0. Source	No explicit inactivity-fee line found in official fee schedule; official account pages state no retail brokerage account fees/no account or subscription fees. Treat as needs manual confirmation before publishing as '$0 inactivity fee'. Source

Markets, platforms & payments
Tradable assets	Wealthsimple supports stocks, ETFs, options, futures, crypto, precious metals/gold, managed portfolios and cash products. Source	Stocks, ETFs, mutual funds, options, crypto, fixed income, bonds and CDs; Fidelity says stocks include domestic and international. Source
Trading platforms	Clients can place orders through Wealthsimple mobile application, website, or trading desk; platform is app/web based rather than MT4/MT5. Source	Fidelity.com, Fidelity mobile app, Fidelity Trader+ Web/Desktop/Mobile mode, and legacy Active Trader Pro Classic. Source
Account types	Registered and non-registered accounts, managed/trading/crypto/cash account types are offered, with availability varying by product. Source	Broad account menu including taxable brokerage, retirement/IRA, cash management, HSA, custodial/youth, education, trust/business, managed and crypto accounts. Source
Deposit methods	Multiple funding methods are supported, with availability varying by account type. Source	EFT/ACH, bank wire, check/mobile check, direct deposit, recurring deposit, Fidelity-to-Fidelity/account transfer, transfer of assets, and eligible payment apps. Source
Withdrawal methods	Withdrawals can be made to linked bank accounts; instant debit-card withdrawals are available for eligible cards; chequing also supports cheques/bank drafts/wires where applicable. Source	EFT/ACH, bank wire, paper check, Fidelity-to-Fidelity transfers, third-party/person-to-person transfers and eligible debit card/ATM access. Source
Withdrawal processing time	Standard withdrawals are generally 1-3 business days for trade/crypto/cash accounts and 4-6 business days for managed accounts. Source	EFT withdrawals 1-3 business days; bank wire same day if submitted by 4 p.m. ET; paper check about 5-6 days. Source

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