Canada · Prediction markets guide
Prediction market fees in Canada
Trading prediction markets in Canada costs a fee per contract plus the conversion from Canadian to US dollars. Wealthsimple Predict charges US$0.02 per contract on every buy and sell and 1.5% on conversions under $10,000; Interactive Brokers charges US$0.01 per contract on ForecastEx, US$0.02 on Kalshi markets, and 0.2 basis points per conversion with a US$2 minimum. Which is cheaper depends on how much you convert at a time.
Key takeaways
- Wealthsimple Predict: US$0.02 per contract on every buy and every sell, and 1.5% on currency conversions under $10,000 (less above).
- Interactive Brokers: no commission and US$0.01 per contract on ForecastEx, US$0.02 on Kalshi markets, and 0.2 basis points per conversion with a US$2 minimum.
- On a single small order converted on its own, Wealthsimple is slightly cheaper; convert a few hundred dollars at a time and Interactive Brokers wins.
- A flat per-contract fee weighs most on cheap contracts: US$0.02 is 20% of a 10¢ contract.
- Holding US dollars, converting in larger amounts and trading mid-priced contracts all cut what you pay.
The two costs every trade carries
Every event contract you can trade in Canada is priced in US dollars, so a Canadian pays twice:
- A trading fee per contract, charged by the dealer or the exchange.
- A currency conversion, if you fund in Canadian dollars, and again if you bring winnings back.
Then there’s a third, hidden cost: the spread, the gap between the price you can buy at and the price you can sell at. It’s widest in quiet markets.
Trading fees
| Fee per contract | When it’s charged | |
|---|---|---|
| Wealthsimple Predict (Kalshi) | US$0.02 | Every buy and every sell; fractional orders rounded to the nearest cent |
| Interactive Brokers, ForecastEx markets | US$0.01, no commission | Every purchase, including the opposite-side purchase you use to exit |
| Interactive Brokers, Kalshi markets | US$0.02 | Per contract |
No fee applies when a contract settles: a winning contract pays US$1. A flat per-contract fee is light on mid-priced contracts and heavy on cheap ones. Wealthsimple’s US$0.02 is 4% of a 50¢ contract and 20% of a 10¢ one. The Globe and Mail worked out that 100 contracts at 1¢ cost US$0.63 in fees on Kalshi in the US, where the fee is a formula that peaks at 50¢, but US$2 on Wealthsimple Predict.
Currency conversion
| Cost of converting | |
|---|---|
| Wealthsimple | 1.5% under $10,000; 1% from $10,000 to $24,999; 0.5% from $25,000 to $99,999; free from $100,000, per conversion, on a rate that includes a spread |
| Interactive Brokers | 0.20 basis points (0.002%) of the amount, at least US$2.00 per conversion |
The two schedules cross at about US$133 per conversion: below that, Wealthsimple’s 1.5% costs less than IBKR’s US$2 minimum; above it, IBKR is cheaper, and on $1,000 it costs about $2.80 against Wealthsimple’s $15. Both accounts hold Canadian and US dollars side by side, so you can convert once and trade many times, or move US dollars in from elsewhere.
Worked examples
All in Canadian dollars at the Bank of Canada’s rate of 1.4057 on October 21, 2026, held to settlement, with the payout converted back. The break-even is the chance you need to be right to cover every cost.
100 contracts at 40¢ (US$40 of contracts; 40% break-even before costs):
| How you convert | Wealthsimple Predict | IBKR, ForecastEx | IBKR, Kalshi market |
|---|---|---|---|
| Just for this order | C$59.92 · 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 in US dollars | C$59.04 · 42.0% | C$57.63 · 41.0% | C$59.04 · 42.0% |
1,000 contracts at 40¢, converted just for this order: C$599.25 at Wealthsimple (43.3% break-even) against C$579.15 on ForecastEx at IBKR (41.3%). At this size IBKR’s US$2 minimum hardly matters, and its lower fee shows.
100 contracts at 10¢, converted just for this order: C$17.12 at Wealthsimple, where the US$2 fee alone is 20% of the stake, against C$18.27 on ForecastEx, where the conversion minimum does the damage. Converting $1,000 at a time brings ForecastEx down to C$15.51.
Run your own numbers in our prediction market fee calculator.
Funding and other costs
| Wealthsimple Predict | Interactive Brokers | |
|---|---|---|
| Account minimum | None stated | None |
| Ways to deposit | Interac e-Transfer (instant), linked bank, transfers from other Wealthsimple accounts | EFT (free; first deposit tradable after 5 business days), wire (bank fees usually apply), online bill payment |
| Interest on positions | None found | 3.38% APY on ForecastEx positions, paid monthly |
| Registered accounts | No: Predict is a non-registered account | No sign forecast contracts are allowed in a TFSA or RRSP |
How to pay less
- Convert in bigger amounts. At Interactive Brokers, converting a few hundred dollars at a time spreads the US$2 minimum thin. At Wealthsimple, the rate only drops at $10,000.
- Keep a US-dollar balance. Leave winnings in US dollars if you’ll trade again, rather than converting back and forth.
- Avoid very cheap contracts at Wealthsimple. A flat US$0.02 on a 5¢ or 10¢ contract eats a large share of the potential payout.
- Use limit orders. In thin markets, a market order can fill well away from the price you saw, which can cost more than any fee.
- Hold to settlement when it makes sense. Selling early costs another fee on the way out.
Fees are one of six criteria in our ranking of the best prediction markets in Canada; see how we rank for the rest.
Frequently asked questions
Which prediction market is cheapest in Canada?
Interactive Brokers, for most traders: ForecastEx contracts cost US$0.01 each with no commission, and converting currency costs 0.2 basis points with a US$2 minimum. If you convert only enough for one small trade at a time, Wealthsimple's 1.5% can cost less than IBKR's US$2 minimum, up to about US$133 per conversion.
Does Wealthsimple Predict charge to sell?
Yes. The US$0.02 fee applies to every buy and every sell. If you hold a contract until it settles, there's no further fee: winning contracts pay US$1 each.
Why do I pay to convert currency?
Because every event contract available in Canada is priced in US dollars: both exchanges, Kalshi and ForecastEx, are American. If you fund in Canadian dollars, your dealer converts them, and again if you bring winnings back. Both Wealthsimple and Interactive Brokers let you hold US dollars to avoid converting every time.
Is the Wealthsimple fee higher than Kalshi's in the US?
On cheap contracts, much higher. The Globe and Mail worked out that 100 contracts at 1¢ cost US$0.63 in fees on Kalshi but US$2 on Wealthsimple Predict; at 50¢ the gap narrows to US$1.75 against US$2. Kalshi's fee is a formula that peaks at mid prices, while Wealthsimple charges a flat 2¢.
Do I earn interest on my positions?
At Interactive Brokers, on ForecastEx positions: a 3.38% APY coupon on their market value, paid monthly, as of October 22, 2026. We found no interest on Wealthsimple Predict positions.
Keep reading
Sources
We verify facts against primary sources (regulators, court records, operators’ own terms) wherever possible.
- Fees: trading (event contract fee and currency conversion) — Wealthsimple , accessed 2026-10-22
- Understanding Wealthsimple Predict — Wealthsimple Help Centre , 2026-10-15
- Commissions: event contracts — Interactive Brokers Canada , accessed 2026-10-22
- ForecastEx fee schedule — ForecastEx , 2026-05-07
- Commissions: spot currencies — Interactive Brokers Canada , accessed 2026-10-22
- Fund my account — Interactive Brokers Canada , accessed 2026-10-22
- IBKR Prediction Markets (Canada) — Interactive Brokers Canada , accessed 2026-10-22
- Prediction Markets at Interactive Brokers — IBKR Campus , accessed 2026-10-22
- Trading on prediction markets from Canada? Mind the fees — The Globe and Mail , 2026-10-19
- Daily exchange rates (USD/CAD) — Bank of Canada , 2026-10-21