The best Interactive Brokers alternatives for prediction markets in Canada
Interactive Brokers is the cheapest way to trade event contracts in Canada, but it's only for traders 21 and older and its platforms take some learning. In Canada there is exactly one other legal option, Wealthsimple Predict, and it fixes both of those.
SafeBet.ai is reader-supported. When you sign up with an operator through a link on this page we may earn a
commission, at no extra cost to you. Partnerships can influence which operators we feature and the order in which
they appear. They don’t change the facts we report: every review follows our published methodology, cites official
sources, and only covers operators that are licensed or regulated where they operate. Read our editorial policy.
General information, not investment advice. SafeBet.ai isn’t registered with any Canadian securities regulator, and we only link to the two CIRO dealers allowed to offer event contracts in Canada.
Best Interactive Brokers alternatives
Checked
The best Interactive Brokers alternative for most people in Canada is Wealthsimple Predict. Wealthsimple Predict is the only other dealer allowed to offer event contracts in Canada.
You're 18 to 20: Interactive Brokers requires you to be 21 for event contracts, while Wealthsimple Predict accepts the age of majority in your province.
You want a simple app: Wealthsimple Predict is a dedicated mobile app with a guided first trade, while IBKR runs prediction markets inside investor platforms and asks you to request a trading permission.
You want to fund instantly from your bank: Wealthsimple takes Interac e-Transfer with no hold, while a first EFT deposit at IBKR is tradable after 5 business days.
You trade small amounts: Interactive Brokers charges at least US$2 per currency conversion, more than Wealthsimple's 1.5% on anything under about US$133.
The best Interactive Brokers alternatives in Canada
Rank #1W
Wealthsimple Predict
Best for beginners and 18- to 20-year-olds
7.6 /10
Wealthsimple Predict is the only other dealer allowed to offer event contracts in Canada. Its contracts trade on Kalshi, the deepest order book behind either dealer, and it accepts traders from the age of majority, takes Interac e-Transfer and walks you through your first trade. It costs more: US$0.02 per contract on every buy and sell, and 1.5% on currency conversions under $10,000.
Exchange
Kalshi
Trading fee
2¢/contract on every buy and sell
Currency conversion
1.5% under $10,000 (less on larger amounts)
Open from the age of majority, 18 or 19, where Interactive Brokers requires 21
Trades on Kalshi, the deepest order book behind a Canadian dealer
Instant funding by Interac e-Transfer, and the account holds both CAD and USD
These aren’t in our top 2, but they can make sense in specific situations.
Your province's sports betting site
If it's sports you're after, event contracts can't help: Canadian dealers aren't allowed to offer them. Sports betting is legal through each province's site, such as PlayNow, OLG's Proline+, Mise-o-jeu+ and PlayAlberta, and in Ontario at sportsbooks registered with the AGCO and iGaming Ontario.
A play-money prediction market. You can't win or lose real money, so it's a free way to practise forecasting before you put dollars on an event contract.
Why Polymarket and Kalshi aren't on this list
Neither is registered with a Canadian securities regulator, so neither can legally offer you event contracts. Polymarket agreed in a 2025 settlement with the Ontario Securities Commission to keep Ontario residents out, and by early July 2026 it had also blocked Alberta, British Columbia and Quebec. Kalshi lists Canada as a restricted jurisdiction, so Canadians can't trade on Kalshi itself; its contracts reach Canada through Wealthsimple Predict and, for some markets, Interactive Brokers.
Stay with Interactive Brokers if you're 21 or older and convert a few hundred dollars or more at a time: you get the most markets, the lowest per-contract fee on ForecastEx and a coupon on your positions. It's also the simpler choice if you already invest with IBKR.
What is the best alternative to Interactive Brokers for prediction markets in Canada?
Wealthsimple Predict, because it's the only other dealer allowed to offer event contracts in Canada. It suits beginners and 18- to 20-year-olds better, but it costs more per contract and per conversion.
Is there a prediction market for 18-year-olds in Canada?
Yes: Wealthsimple Predict accepts the age of majority in your province, which is 18 in Alberta, Manitoba, Ontario, Prince Edward Island, Quebec and Saskatchewan, and 19 elsewhere. Interactive Brokers requires 21.
Can I use Polymarket instead of Interactive Brokers in Canada?
Not legally. Polymarket isn't registered in Canada, it's barred from Ontario under a 2025 OSC settlement, and it blocks Alberta, British Columbia and Quebec too. See is Polymarket legal in Canada?
We’d like to use analytics (Google Analytics) and marketing (TikTok) cookies to improve SafeBet and measure our ads.
Nothing is tracked unless you accept. Read our cookie policy
