Robinhood alternatives in Canada (2026): still no stocks

The Robinhood app works in Canada now. It just doesn’t do what most people wanted. A Canadian account trades cryptocurrency and nothing else. Whether you came looking for it or you’re already trading somewhere else, the Robinhood alternatives in Canada worth comparing are Wealthsimple, Questrade and Webull. All three charge nothing on stocks and ETFs, so the table above is really about what each one lets you buy.

Why look for a Robinhood alternative in Canada?

Because the Canadian version of Robinhood is a different app from the American one, and it’s missing almost everything Robinhood is known for. Robinhood arrived here by buying two crypto exchanges, so an account opened in Canada trades about 50 coins and stops there. Stocks, ETFs, options and the prediction markets are still US, UK and EU only, and no date has been given for bringing them north.

Robinhood is here, and it only trades crypto

Robinhood closed a $250 million purchase of WonderFi on June 1, 2026, which handed it Bitbuy and Coinsquare, and opened its own app to Canadians on Canada Day. What you get here is crypto (opens in a new tab): roughly 50 coins, with staking on ETH and SOL listed as coming. Your account is held and operated by Coinsquare Capital Markets Ltd., a CIRO dealer member, rather than by the US broker whose name is on the app.

Trading is free until September 30, 2026 (opens in a new tab). After that the standard fee is 0.50% of the Canadian-dollar value of every buy and every sell. Robinhood also says on its own Canadian page that crypto isn’t legal tender here and isn’t covered by CIPF, which is the protection a brokerage account would have.

The prediction markets are a separate problem

Plenty of people wanted Robinhood for the event contracts more than the stocks. You buy Yes at 65 cents and collect $1 if it happens. Those are US-only (opens in a new tab), and a Canadian account can’t reach them.

Canada opened a narrow door of its own in March 2026. CIRO authorized dealers to offer event contracts settling 30 days out or more, in three categories: economic indicators, financial markets and climate. Sports and politics are out. Interactive Brokers Canada was first through it, and Wealthsimple Predict (opens in a new tab) launched in late July 2026 with close to 4,000 contracts from Kalshi. A contract settles at $1 or at zero, so a wrong call loses everything you put into it. We went through where the line sits in are prediction markets gambling.

The best Robinhood alternatives in Canada, at a glance

Commission is no longer the thing to compare. Wealthsimple, Questrade and Webull all charge $0 on Canadian and US listed stocks and ETFs, so what separates them now is options pricing, what else you’re allowed to buy, and how the app feels in your hand. Here’s how each one works and who it suits.

Wealthsimple, the closest thing to Robinhood in Canada

Wealthsimple is where most Canadians looking for Robinhood end up, and it matches the things Robinhood is actually known for: $0 commission on stocks and ETFs, and $0 on options with no per-contract fee (opens in a new tab). Fractional shares start at $1 (opens in a new tab), so a share priced in the hundreds can be bought a piece at a time. Crypto sits in the same app, and so does chequing, so your trading money and your everyday banking are in one place.

What a trade actually costs

The commission is zero. The currency conversion isn’t. Buying a US-listed stock from a Canadian-dollar account converts at 1.5%, which is about $30 on a $2,000 buy and the same again on the way out. A US-dollar account skips it and costs $10 a month on the entry-level Core tier, free once you hold $100,000 (Premium) or $500,000 (Generation). If you trade US stocks often, compare the conversion cost, not the commission.

It has prediction markets, with real limits

Wealthsimple Predict launched as a separate app in late July 2026, carrying close to 4,000 Kalshi contracts across Canadian, market, company, economy and climate questions. It’s the nearest thing in the country to the Robinhood feature, and it’s narrower on purpose: no sports, no politics, and nothing settling sooner than 30 days out, so there’s nothing to trade on tonight’s game.

Where Wealthsimple loses: the platform is thin if you want anything beyond stocks, ETFs, options and crypto, and its best rates and lowest conversion costs are tied to holding six figures with them.

Questrade, the same $0 with a deeper platform

Questrade took commissions off Canadian and US listed stocks and ETFs (opens in a new tab) in February 2025, and charges $0 base plus $0.99 a contract on options. There are no account fees, no inactivity fees, and no minimum to open a self-directed account.

The extra 99 cents a contract gets you more to choose from. Questrade also sells bonds, GICs and mutual funds, none of which the app-first brokers offer, and its Questwealth Portfolios service will build and manage a portfolio for you if you’d rather stop picking. That combination suits someone who expects to hold more than stocks, or who wants a proper desktop platform instead of a phone.

The catch is how it feels. Questrade is built for self-directed investors first, and next to Robinhood or Webull it reads as software rather than as an app. If the reason you wanted Robinhood was that it was easy to open and easy to look at, this isn’t the one.

Webull, the closest to the Robinhood interface

If what you liked about Robinhood was how it looked and moved, Webull is the nearest thing here. It dropped commissions on Canadian and US stocks and ETFs in April 2026 (opens in a new tab) and gives every account free Nasdaq Level 2 quotes (opens in a new tab), which most Canadian brokers charge for. Options run $0.99 USD a contract, refunded for the first three months on a new options account.

It supports cash, margin, TFSA and RRSP accounts, with up to 2x leverage on margin. Webull Securities (Canada) Limited is a CIRO dealer and a CIPF member, though its crypto arm is separate and crypto isn’t covered there either.

The real limitation is that Webull is still new here. It opened in Canada in 2024, so there’s less built around it than the other two. There’s no managed option if you ever want to stop picking your own stocks, and a shorter Canadian track record to judge it on.

A weekly cash draw on the money you’re not trading with

Most people who trade have money that isn’t in the market. The cash waiting on a better entry, the money set aside for rent, the fund you promised yourself you wouldn’t touch. It sits there earning whatever the bank pays and that’s the end of it.

Lodavo is Canada’s first prize-linked savings app, and it’s free. It connects to the savings or chequing account you already use, and every $25 you save earns you a free ticket in that week’s cash draw. Top prizes reach $10,000, and at least $100 goes to a user every week, so somebody always wins. Every result is posted on the winning numbers page, and the provably fair page shows how each draw is verified.

If you came here for Robinhood, the appeal is probably obvious: there’s a result every week, and no way to be down on it. Nothing moves to play. It works with virtually any Canadian bank or credit union, so you can run it next to whichever broker you end up choosing.

Investing is a separate job. A position in the market still needs one of the three above, and how much to save before investing is the better read on how to split money between the two.

How to choose the right one for you

Start with what you actually wanted from Robinhood:

Most people end up with two of these rather than one. A broker for the money that’s meant to grow, and something else for the money that isn’t. If you’re still working out which is which, our roundup of the best savings apps in Canada covers where the cash side should sit.

Terms and conditions apply. No purchase necessary (alternate method of entry available). Skill-testing question required. Open to legal residents of Canada who are the age of majority. Odds depend on the number of eligible entries received. Full rules and odds at our contest rules.