Canadians pay some of the highest investment fees in the developed world. The average Canadian mutual fund still charges an MER well above 1.8%, and full-service advisors typically layer 1% AUM on top. A robo-advisor does the same core job — a diversified, rebalanced, tax-aware portfolio — for roughly 0.4% to 0.7% all-in.
This is the 2026 comparison of every credible Canadian robo-advisor: real fees, account types, minimums, and who each one is actually for.
Quick Comparison: Best Canadian Robo-Advisors 2026
| Platform | Management fee | Minimum | Best for |
|---|---|---|---|
| Wealthsimple Invest | 0.40%–0.50% (+ ~0.12% ETF MER) | $0 | Best all-round Canadian robo |
| Questwealth Portfolios | 0.20%–0.25% (+ ~0.17%–0.22% MER) | $1,000 | Lowest headline fee |
| RBC InvestEase | 0.50% (+ ~0.11%–0.22% MER) | $100 | Big-bank comfort and integration |
| Justwealth | 0.40%–0.50%, $4.99/mo min | $5,000 | RESPs and target-date education savings |
| CI Direct Investing | 0.35%–0.60% | $1,000 | Private-client features at lower balances |
1. Wealthsimple Invest — Best All-Round
Wealthsimple is the default answer for most Canadians. 0.50% on balances under $100,000, 0.40% above, plus underlying ETF MERs of roughly 0.12%. It supports TFSA, RRSP, RESP, FHSA, LIRA, RRIF, corporate and non-registered accounts — the widest coverage of any Canadian robo.
What you get: automatic rebalancing, dividend reinvestment, tax-loss harvesting on taxable accounts at higher tiers, socially responsible and halal portfolio options, and human advice access at Premium and Generation tiers.
Where it loses: it is not the cheapest. If you are purely fee-minimising with a $250,000+ portfolio, Questwealth or a DIY all-in-one ETF beats it.
2. Questwealth Portfolios — Lowest Fee
Questrade's robo charges 0.25% under $100,000 and 0.20% above — half of Wealthsimple. The catch is that Questwealth portfolios are actively managed, so underlying MERs run higher (0.17%–0.22%), and the strategy is not pure passive indexing. All-in you land around 0.42%–0.47%, which is close to Wealthsimple once you account for it.
Best for: cost-focused investors who already bank with Questrade and want to keep DIY trading alongside a managed account.
3. RBC InvestEase — Best Big-Bank Option
0.50% management fee plus ETF MERs of 0.11%–0.22%. Portfolios are built from RBC iShares ETFs. The genuine advantage is integration: if your chequing, mortgage and credit cards are already at RBC, contributions and transfers are frictionless, and the money feels less abstract to people who dislike fintech apps.
Limitations: fewer account types than Wealthsimple, no tax-loss harvesting, and no RESP.
4. Justwealth — Best for RESPs
Justwealth runs more than 80 distinct portfolios and is the only Canadian robo with genuine target-date RESP portfolios that de-risk automatically as your child approaches their first tuition payment. Fees are 0.50% under $500,000 and 0.40% above, with a $4.99 monthly minimum. Every client is assigned a personal portfolio manager.
Best for: parents building education savings, and anyone who wants a named human attached to the account.
5. CI Direct Investing — Best for Alternatives
Formerly WealthBar. Fees run 0.35%–0.60% depending on balance, and clients get access to private investment portfolios (real estate, private debt) that most robos don't offer, plus unlimited financial planning conversations.
Best for: investors with $100,000+ who want private-market exposure without a full-service advisor's 1%.
The Fee Math: What 1% Costs a Canadian Investor
Assume a $300,000 portfolio growing at 6% for 25 years.
- Robo-advisor at 0.55% all-in: roughly $95,000 in cumulative fees.
- Bank mutual funds at 2.00% MER: roughly $310,000 in cumulative fees.
- Difference: over $200,000 — a decade of retirement spending for many households.
Run your own numbers in our financial advisor fee calculator, and see the underlying mechanics in the hidden cost of financial advisors.
TFSA vs RRSP vs FHSA: Where to Hold a Robo Portfolio
- TFSA — 2026 annual room is $7,000. Growth and withdrawals are tax-free. Best first home for a robo portfolio for most Canadians.
- RRSP — contributions deduct against income at your marginal rate. Best if you're in a 43%+ bracket now and expect a lower rate in retirement.
- FHSA — $8,000 a year up to $40,000 lifetime, deductible going in and tax-free coming out for a first home. Strictly better than either for eligible first-time buyers.
- Non-registered — only after the registered room above is used. This is where tax-loss harvesting earns its keep.
Robo-Advisor or Human Advisor?
The same logic applies in Canada as everywhere else: if your situation is employment income, registered accounts and a mortgage, a robo plus an occasional fee-only planner beats a 1% advisor comfortably. Complexity — a corporation, a business exit, a blended estate, US-Canada cross-border tax — is where a human still earns the fee.
The full decision framework is in our robo-advisor vs financial advisor guide. For comparison across markets, see the best US robo-advisors and best UK robo-advisors.
How to Choose in Under Five Minutes
- Under $25,000 and starting out — Wealthsimple, $0 minimum.
- Absolute lowest fee and already with Questrade — Questwealth.
- You want your bank to hold it — RBC InvestEase.
- Saving for a child's education — Justwealth.
- $100,000+ and want private-market access — CI Direct Investing.
Before You Pick a Platform
Choosing a robo-advisor is a delivery decision, not a plan. The prior question is what the money is actually for — retirement at 55, a sabbatical, funding a child's education, buying back your time. Start with our free Life Purpose Assessment, then pick the cheapest platform that gets you there.