# Interactive Brokers vs Wealthsimple Predict

> Interactive Brokers is the better choice if you're 21 or older and convert a few hundred dollars at a time: ForecastEx contracts cost half as much per contract, its currency conversion is far cheaper on larger amounts, it lists more markets and it pays a 3.38% APY coupon on ForecastEx positions. Choose Wealthsimple Predict if you're 18 to 20, trade small amounts or want a simple app with instant Interac funding; it also trades every contract on Kalshi's deeper order book.

- URL: https://safebet.ai/ca/prediction-markets/interactive-brokers-vs-wealthsimple-predict/
- Markdown version: https://safebet.ai/ca/prediction-markets/interactive-brokers-vs-wealthsimple-predict/index.html.md
- Last updated: 2026-10-22 (re-checked when an operator changes its terms or a regulator or court acts)
- Author: SafeBet.ai Research Team (SafeBet.ai)
- Interactive Brokers: #1 of 2 in [Best prediction markets in Canada](https://safebet.ai/ca/prediction-markets/), 8.1/10 — review: https://safebet.ai/ca/prediction-markets/interactive-brokers-review/
- Wealthsimple Predict: #2 of 2 in [Best prediction markets in Canada](https://safebet.ai/ca/prediction-markets/), 7.6/10 — review: https://safebet.ai/ca/prediction-markets/wealthsimple-predict-review/
- Notice: 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.
- Editorial policy and advertiser disclosure: https://safebet.ai/editorial-policy/

## Who should choose which

| Need | Better choice | Why |
|---|---|---|
| Trading fees | Interactive Brokers | ForecastEx contracts at Interactive Brokers cost no commission and US$0.01 per contract, half of Wealthsimple's US$0.02 on every buy and sell. On Kalshi markets, IBKR also charges US$0.02, a tie. |
| Converting larger amounts | Interactive Brokers | IBKR charges 0.20 basis points with a US$2 minimum per conversion, about 0.28% on $1,000. Wealthsimple charges 1.5% on anything under $10,000. |
| Small orders converted one at a time | Wealthsimple Predict | Below about US$133 per conversion, Wealthsimple's 1.5% costs less than IBKR's US$2 minimum: 100 contracts at 40¢, converted for that order alone and back, cost C$59.92 all-in at Wealthsimple versus C$60.45 on ForecastEx. |
| Market choice | Interactive Brokers | IBKR's Canadian site listed 482 markets on ForecastEx and Kalshi on October 22, 2026. Wealthsimple offers thousands of Kalshi contracts but no ForecastEx markets. |
| Liquidity | Wealthsimple Predict | Every Wealthsimple order goes to Kalshi's order book. Most of IBKR's markets trade on ForecastEx, where only 477 matched pairs traded in the Bank of Canada decision market in 30 days; Kalshi markets at IBKR are as deep as at Wealthsimple. |
| Traders aged 18 to 20 | Wealthsimple Predict | Wealthsimple accepts the age of majority in your province, 18 or 19. Interactive Brokers requires you to be 21 for event contracts. |
| Funding from a Canadian bank | Wealthsimple Predict | Interac e-Transfers to Wealthsimple are tradable instantly. A first EFT deposit at IBKR is tradable after 5 business days; wires are faster but usually cost a bank fee. |
| Interest on positions | Interactive Brokers | ForecastEx pays a 3.38% APY coupon on the value of your positions, paid monthly. We found no interest on Wealthsimple Predict positions. |
| Apps | Either | Wealthsimple's dedicated app is simpler, with a guided first trade, but it's mobile-only and rated 3.3/5 on the App Store. IBKR adds web and desktop platforms and IBKR Mobile is rated 4.5/5, but you have to request a trading permission and learn a complex platform. |

## Scores (SafeBet.ai ratings, 0–10)

| Criterion (weight) | Interactive Brokers | Wealthsimple Predict |
|---|---|---|
| Regulation & safety (25%) | 9.0 | 9.0 |
| Markets & features (20%) | 8.0 | 7.5 |
| Fees & pricing (20%) | 8.5 | 6.0 |
| Liquidity (15%) | 7.0 | 8.0 |
| Deposits & withdrawals (10%) | 7.0 | 8.0 |
| App & experience (10%) | 7.5 | 6.5 |
| **Overall** | **8.1** | **7.6** |

## Key facts

| | Interactive Brokers | Wealthsimple Predict |
|---|---|---|
| Regulation | CIRO dealer · CIPF member | CIRO dealer · CIPF member |
| Exchange | ForecastEx and Kalshi | Kalshi |
| Markets | 482 markets: economics, finance, climate | Thousands of contracts: economics, finance, climate |
| Trading fee | 1¢/contract on ForecastEx; 2¢ on Kalshi | 2¢/contract on every buy and sell |
| Currency conversion | 0.2 basis points, min. US$2 per conversion | 1.5% under $10,000 (less on larger amounts) |
| Deposits | EFT, wire, online bill payment | Interac e-Transfer, linked bank, Wealthsimple transfers |
| Apps | Web, IBKR Mobile, Desktop, TWS | iOS and Android only |
| Min. age | 21+ | Age of majority (18 or 19) |

## Pros and cons

### Interactive Brokers

- Pro: The lowest trading fee in Canada: no commission and US$0.01 per contract on ForecastEx
- Pro: A 3.38% APY coupon on ForecastEx positions, paid monthly
- Pro: The widest choice: 482 markets on two exchanges, ForecastEx and Kalshi
- Pro: Currency conversion at 0.2 basis points, far cheaper than a percentage fee on larger amounts
- Pro: Web, mobile and desktop platforms; IBKR Mobile is rated 4.5/5
- Pro: The first dealer approved, in April 2025, backed by a listed broker with 5.58 million accounts worldwide
- Con: You must be 21 or older to trade event contracts
- Con: ForecastEx's Canadian markets trade thinly: 477 matched pairs in its Bank of Canada market in 30 days
- Con: A US$2 minimum per currency conversion makes small conversions expensive
- Con: Kalshi markets cost US$0.02 per contract, the same as Wealthsimple
- Con: Built for investors: you request a trading permission and learn a complex platform

### Wealthsimple Predict

- Pro: Open from the age of majority, 18 or 19, where Interactive Brokers requires 21
- Pro: Trades on Kalshi, the deepest order book behind a Canadian dealer
- Pro: Instant funding by Interac e-Transfer, and the account holds both CAD and USD
- Pro: Fractional contracts: you can trade any dollar amount
- Pro: A simple dedicated app with a guided first trade, risk reminders and a recommended loss limit
- Pro: Wealthsimple says cash and contracts in the account are eligible for CIPF coverage
- Con: US$0.02 per contract on every buy and sell, 20% of the price of a 10¢ contract
- Con: 1.5% to convert anything under $10,000, on a rate that already includes a spread
- Con: Mobile only, rated 3.3/5 on the App Store and 3.0/5 on Google Play
- Con: Withdrawing bank deposits means waiting for them to settle, then 1 to 3 business days
- Con: Its app and website have shown markets Canadians can't trade, which CIRO told dealers to stop in October 2026

## The key differences

Interactive Brokers and Wealthsimple are the only two dealers allowed to offer event contracts in Canada, and they sell the same kind of product under the same rules: economic, financial and climate contracts with at least 30 days to maturity, priced in US dollars, paying US$1 if you're right. Both are CIRO-regulated investment dealers and CIPF members. The differences are in cost, choice, age and convenience.

| | Interactive Brokers | Wealthsimple Predict |
|---|---|---|
| Exchanges | ForecastEx and Kalshi | Kalshi |
| Markets (Oct 22, 2026) | 482 markets | Thousands of contracts |
| Trading fee | US$0.01 per contract on ForecastEx; US$0.02 on Kalshi | US$0.02 per contract, every buy and sell |
| Currency conversion | 0.20 basis points, min. US$2 per conversion | 1.5% under $10,000 |
| Interest on positions | 3.38% APY on ForecastEx positions | None found |
| Minimum age | 21 | Age of majority (18 or 19) |
| Fastest funding | Wire (bank fee); EFT tradable after 5 business days | Interac e-Transfer, instant |
| Platforms | Web, IBKR Mobile, Desktop, TWS | iOS and Android only |

## Fees, in Canadian dollars

Because every contract is priced in US dollars, the conversion matters as much as the trading fee. Here's what 100 contracts at 40¢ cost all-in, held to settlement, at the Bank of Canada's rate of 1.4057 on October 21, 2026, if you convert Canadian dollars in and convert the payout back:

| How you convert | Wealthsimple Predict | IBKR (ForecastEx) | IBKR (Kalshi) |
|---|---|---|---|
| Just for this order | C$59.92 (break-even 43.3%) | C$60.45 (43.9%) | C$61.85 (44.9%) |
| $1,000 at a time | C$59.92 (43.3%) | C$57.80 (41.2%) | C$59.21 (42.2%) |
| Already holding US dollars | C$59.04 (42.0%) | C$57.63 (41.0%) | C$59.04 (42.0%) |

The break-even is the probability you need to be right just to cover your costs. Without any fees it would be 40%.

For a single small order, Wealthsimple comes out slightly ahead, because Interactive Brokers' US$2 minimum per conversion is a large share of a $60 trade. As soon as you convert a few hundred dollars at a time, or trade bigger, ForecastEx at IBKR is cheaper: 1,000 contracts at 40¢ converted just for that order cost C$579.15 at IBKR against C$599.25 at Wealthsimple. On Kalshi markets the two charge the same US$0.02 per contract, so only the conversion differs. Try your own numbers in our [fee calculator](https://safebet.ai/ca/prediction-markets/fee-calculator/).

## Markets and liquidity

Interactive Brokers lists more markets: 482 on its Canadian site on October 22, 2026, of which 334 traded only on ForecastEx, 137 only on Kalshi and 11 on both. Wealthsimple offers Kalshi's contracts only, thousands of them, in the same three categories.

Liquidity runs the other way. Every Wealthsimple order goes to Kalshi's order book, the deepest behind either dealer: IBKR's own data showed open interest of 205,284 in Kalshi's Bank of Canada rate market against 399 in ForecastEx's. If you trade ForecastEx's Canadian markets at IBKR, expect wider gaps between the buy and sell price; Kalshi markets at IBKR are as deep as at Wealthsimple.

## Age, accounts and funding

Wealthsimple accepts the age of majority in your province, 18 in Alberta, Manitoba, Ontario, Prince Edward Island, Quebec and Saskatchewan and 19 elsewhere, so it's the only legal option for 18- to 20-year-olds. Interactive Brokers requires 21.

Funding is faster at Wealthsimple: Interac e-Transfers are tradable instantly, and existing clients can move money in from other Wealthsimple accounts. At IBKR, a first EFT deposit is tradable after 5 business days; a wire is faster but usually costs a bank fee. Both accounts hold Canadian and US dollars, neither can be a TFSA or RRSP, and IBKR also asks you to request a trading permission before your first trade.

## Which should you choose?

- **Choose Interactive Brokers** if you're 21 or older, trade regularly or in larger amounts, want the most markets and the lowest per-contract fee, or already invest there. Read our [Interactive Brokers review](https://safebet.ai/ca/prediction-markets/interactive-brokers-review/).
- **Choose Wealthsimple Predict** if you're 18 to 20, new to prediction markets, trade small amounts now and then, or want instant Interac funding in a simple app. Read our [Wealthsimple Predict review](https://safebet.ai/ca/prediction-markets/wealthsimple-predict-review/).

Whichever you pick, these are event contracts, not investments with an expected return: after fees and conversion you need to be right more often than the price implies just to break even. Our [ranking of the best prediction markets in Canada](https://safebet.ai/ca/prediction-markets/) explains how we scored both.

## Frequently asked questions

### Is Interactive Brokers or Wealthsimple better for prediction markets in Canada?

Interactive Brokers, if you're 21 or older and trade more than small amounts: lower fees, cheaper currency conversion on larger amounts, more markets and a coupon on ForecastEx positions. Wealthsimple Predict is better for 18- to 20-year-olds, beginners and small trades, and every one of its orders goes to Kalshi's deeper order book.

### Are Interactive Brokers and Wealthsimple the only legal prediction markets in Canada?

Yes, as of October 22, 2026. They're the only two CIRO dealers allowed to offer event contracts, and both are limited to economic, financial and climate contracts with at least 30 days to maturity. See [are prediction markets legal in Canada?](https://safebet.ai/ca/prediction-markets/are-prediction-markets-legal/)

### Can I trade Kalshi contracts on both?

Yes. Wealthsimple Predict trades only Kalshi contracts, and Interactive Brokers' Canadian site listed 148 Kalshi markets alongside ForecastEx's on October 22, 2026, at US$0.02 per contract. Neither offers Kalshi's sports, election or entertainment contracts to Canadians.

### Which is cheaper for a $50 trade?

Usually Wealthsimple, if you convert Canadian dollars just for that trade, because Interactive Brokers' US$2 minimum per conversion is large on a small amount. If you convert $1,000 or so at a time, or already hold US dollars, ForecastEx at IBKR is cheaper. Our [fee calculator](https://safebet.ai/ca/prediction-markets/fee-calculator/) runs both.

## Sources

1. [Understanding Wealthsimple Predict](https://help.wealthsimple.com/hc/en-ca/articles/51862041944219) — Wealthsimple Help Centre, 2026-10-15
2. [Fees: trading (event contract fee and currency conversion)](https://www.wealthsimple.com/en-ca/legal/fees/trade) — Wealthsimple, accessed 2026-10-22
3. [Commissions: event contracts](https://www.interactivebrokers.ca/en/pricing/commissions-events.php) — Interactive Brokers Canada, accessed 2026-10-22
4. [Commissions: spot currencies](https://www.interactivebrokers.ca/en/pricing/commissions-spot-currencies.php) — Interactive Brokers Canada, accessed 2026-10-22
5. [IBKR Prediction Markets (Canada)](https://www.interactivebrokers.ca/predictionmarkets/en/home.php) — Interactive Brokers Canada, accessed 2026-10-22
6. [ForecastEx market data (daily summaries)](https://forecastex.com/data) — ForecastEx, 2026-09-22 to 2026-10-21
7. [Trading on prediction markets from Canada? Mind the fees](https://www.theglobeandmail.com/investing/personal-finance/article-trading-on-prediction-markets-from-canada-mind-the-fees/) — The Globe and Mail, 2026-10-19
8. [Daily exchange rates (USD/CAD)](https://www.bankofcanada.ca/rates/exchange/daily-exchange-rates/) — Bank of Canada, 2026-10-21