Looking for a Canadian brokerage that combines low fees with powerful trading tools?
Questrade might be just what you need!
Whether you’re an active trader, a long-term investor, or someone just looking to break up with the big banks, Questrade offers a compelling alternative that continues to grow in popularity across Canada.
In this Questrade review, we’ll break down everything you need to know: Questrade fees, account types, platform features, mobile app, customer service, security, and whether this online brokerage is the best fit for your investment strategy.
We’ll also take a closer look at what makes Questrade stand out among Canadian brokers and how it stacks up in an increasingly competitive landscape.
Is Questrade Safe?
You may be wondering, is Questrade legitimate and safe? Here’s a brief history and some information about regulation to help you decide.
Questrade Financial Group has been around since 1999 and operates under the name Questrade, Inc., a regulated entity under the Canadian Investment Regulatory Organization (CIRO). This means the company is held to the highest standards for compliance, transparency, and investor protection.
Questwealth has over $50 million in assets under management and has been named one of Canada’s best managed companies 13 times, often clashing with competitor Wealthsimple (read: QUESTRADE VS WEALTHSIMPLE) at the top of the rankings.
Additionally, Questrade users benefit from protection via the Canadian Investor Protection Fund (CIPF), which covers up to $1 million (for all general accounts combined) in the event of company insolvency.
CIPF insurance does not reimburse users for losses due to security breaches caused by them or Questrade.
It’s also worth noting that Questrade follows strict protocols around account security and encryption, offering users peace of mind when managing their portfolios online.
So yes, Questrade is a legitimate broker in Canada—and a safe place for Canadian investors to trade stocks, ETFs, and more. In an industry where trust is essential, Questrade continues to earn high marks from regulators and users alike.
Account Types at Questrade
Questrade offers a variety of account types to meet the needs of different investors:
- TFSA (Tax-Free Savings Account): Grow investments without paying capital gains taxes on interest, gains, or withdrawals.
- RRSP (Registered Retirement Savings Plan): Defer taxes while saving for retirement.
- RESP (Registered Education Savings Plan): Save for a child’s post-secondary education; withdrawals are taxed at the beneficiary’s tax bracket.
- Cash Account: A standard self-directed trading account.
- Margin Account: Allows for leveraged trading and short selling.
- Corporate and Investment Accounts: Tailored for businesses and incorporated entities.
- LIRA, RIF, and Other Registered Plans: Designed for locked-in and retirement income purposes.
These flexible account options ensure that whether you’re investing for the long term or looking for day-to-day trading opportunities, Questrade has a solution that aligns with your financial strategy.
Pro Tip:
Get One Month of Options Trading Completely Free for US Based Brokerage Transfers!
Key Features & Platforms
Questrade offers a user-friendly web platform, a powerful desktop application called Questrade Edge, and QuestMobile, its mobile app for both Android and iOS. Each platform is designed with flexibility in mind, allowing users to customize their trading setup and preferences.
One of the standout features is commission-free stock, ETF, and option trading, which appeals to long-term investors looking to keep costs low. (Questrade has lowered its prices, which used to include a $4.95 charge for every stock trade and $9.95 per options trade.)
For more active users, Questrade’s market intelligence tools, real-time data, and charting capabilities provide the insights needed to make informed trades. The ability to trade mutual funds, options, and even bracket orders adds to its versatility.
Here are some of Questrade’s other features:
- News and research tools, including updates on intraday trading, IPOs, and more
- Investment monitoring, including custom views, watchlists, and alerts
- Access to deals from Questrade partners
Investors can also benefit from access to North American stock exchanges, a variety of asset classes, and built-in research tools—all of which are designed to support smart decision-making at every step.
Questrade Fees & Pricing
Questrade’s transparent pricing model is one of its biggest advantages over traditional banks and other brokerages, so here’s the lowdown on Questrade fees.
Let’s start with commission. Trading stocks, ETFs, and options is commission free. However, there are exchange fees and some other fees that apply. Here’s how they break down.
- Direct-routed orders to US exchanges for added liquidity:
- EDGA, $0.0004/share
- IEX, $0.0012/share
- Direct-routed orders to US exchange for removed liquidity:
- NASDAQ, $0.003/share
- BATS, ARCA, NYSE, EDGX, $0.004/share
- IEX: $0.0012/share
- US OTC Security: $0.00005/share
- SEC (for US Securities): 0.0000278 x the value of the trade
- Options buy/sell: $0.99 per contract (reduced from the previous fee of $9.95 per contract)
- Mutual funds: $9.95 per trade
There are other fees that may apply, which you can view on Questrade’s fee disclosure page, here.
There are no annual fees for self-directed accounts, and Questrade will reimburse up to $150 in transfer fees if you move your investments from another brokerage.
For frequent traders, the Active Trader Plan offers reduced costs and access to additional tools. Questrade also supports USD and CAD accounts, which is a plus for investors trading U.S. stocks.
We should also note that Questrade offers two market data packages on a subscription basis.
- Real-time streaming provides up-to-the minute Level I data for CAD $9.95 per month
- Advanced streaming offers both Level I and Level II data for CAD $44.95 per month
For investors who want to dig into the research, it may be worthwhile subscribing to one of these plans.
Pro Tip:
Get One Month of Options Trading Completely Free for US Based Brokerage Transfers!
Customer Service & Security
Questrade offers multiple support channels, including live chat, phone support during market hours, and email assistance. Their online help center features an extensive knowledge base with platform guides and FAQs, making it easy to find answers without waiting for an agent.
Most users report positive experiences with Questrade’s support team, though wait times may vary during peak hours. The service team is known for being knowledgeable and professional, which helps reinforce the platform’s reputation for service excellence.
On the security front, Questrade employs bank-level encryption, two-factor authentication (2FA), and activity monitoring to safeguard user accounts. Users also have the option to enable read-only access for third-party apps, adding an extra layer of control and protection.
Who Should Use Questrade?
Questrade stands out as a flexible, feature-rich brokerage well suited for a range of Canadian investors. It’s especially attractive for those who want to save on fees, access sophisticated trading tools, or move away from traditional financial institutions.
Investors who prefer self-directed strategies will appreciate the customization options and platform flexibility. Meanwhile, users seeking more guidance can explore Questwealth Portfolios—Questrade’s pre-built portfolio offering—which provides low-fee automated investing backed by Questrade Wealth Management Inc.
Questwealth Portfolios: Automated Investing the Questrade Way
For those who don’t want to manage every trade manually, Questrade offers Questwealth Portfolios—a low-cost, professionally-managed investing option.
Their portfolios are tailored based on your financial goals, time horizon, and risk tolerance, and they’re automatically rebalanced to keep your investments allocated properly over time.
With management fees starting at just 0.25%, plus a 0.12% fee charged by the ETFs in the portfolio, Questwealth is among the most affordable robo-advisor services in Canada.
It’s a great option for users who want to automate their investing journey while still benefiting from the backing of a regulated and experienced firm.
Pro Tip:
Get One Month of Options Trading Completely Free for US Based Brokerage Transfers!
More for Questrade Clients: Tools, Perks, and Who It’s Best For
While Questrade covers the basics well, there are a few advanced features and account nuances worth knowing, especially if you’re not just the average investor.
Who benefits most from Questrade?
Questrade is ideal for Canadian citizens looking to actively manage their wealth, but it’s also surprisingly accessible to international investors. Although non-residents can’t open new accounts, existing non registered accounts are still supported in many cases.
For Questrade clients who want to go deeper, there’s a full suite of research and automation tools—plus a few hidden perks:
- Dividend reinvestment (DRIP) is available, letting you automate growth by turning payouts into more shares.
- Questrade Global opens the door to international equities with a platform that supports trading on U.S., European, and Asian exchanges.
- The portfolio manager tools in Questwealth Portfolios offer a solid robo-advisor experience with customization options that help even hands-off investors stay aligned with their goals.
Tech-savvy investors will also appreciate that Questrade supports NLP-powered tools (natural language processing) through its partnership integrations—bringing smart insights into your trading workflow.
And if you’re chasing free trading perks?
While standard ETF purchases may come with some small trading fees, Questrade regularly promotes limited-time free ETF purchases, zero trading commissions, and free trading days that give cost-conscious users more flexibility. Just be sure to check the fine print (and your timing).
Final Verdict: Is Questrade Worth It?
If you’re a Canadian investor tired of high fees, want access to powerful trading platforms, and like the idea of using a financial institution that isn’t one of the big five banks, then yes—Questrade is absolutely worth your consideration.
That’s what we hope you’ll take away from this Questrade review.
With strong oversight from CIRO, CIPF protection, a range of customization options, and a growing community of financially successful users, Questrade delivers a well-rounded platform for casual and active traders alike.
Whether you’re looking to trade individual stocks, invest in ETFs, or explore other asset classes, Questrade offers the tools, flexibility, and pricing to help you reach your financial goals.
Its emphasis on zero commission trades, transparent fees, intuitive interfaces, and feature-rich environments make it one of the top Canadian brokerages for both new and experienced investors. Plus, with its robust support team and impressive educational resources, Questrade goes a long way in helping users feel confident and informed.
If you want to know how Questrade stack’s up against another discount online Canadian broker Qtrade (read: QTRADE REVIEW), we recently laid out the comparisons step by step (read: QTRADEVSQUESTRADE)!
Ready to open a Questrade account and start trading? Head over to their official website and take your next step toward smarter investing with one of Canada’s most trusted online brokers.
Questrade offers commission-free stock, ETF and options purchases. However, options have a base fee, as do mutual funds. They offer full fee transparency, and the platform is still one of the lowest-cost options for Canadian investors.
Yes, Questrade offers a robust online options trading experience with customizable strategies and risk management tools. You can trade single-leg or multi-leg options strategies, with pricing starting at $0.99 plus $1 per contract.
Questrade is regulated by the Canadian Investment Regulatory Organization (CIRO) and is a member of the Canadian Investor Protection Fund (CIPF), ensuring high standards of safety and compliance.
Yes, Questrade accepts transfer requests and will reimburse transfer fees up to $150 from your existing brokerage. This makes switching easy and cost-effective.
Questwealth Portfolios are pre-built portfolio solutions managed by Questrade Wealth Management Inc. They offer low-fee, automated investing for Canadians who want a hands-off approach.
Absolutely. The Active Trader Plan offers discounted contract rates, advanced market intelligence, and streaming data tools tailored for active traders and intraday traders.
Yes, Questrade’s mobile apps are available for iOS and Android and include many of the same features as the desktop and web platform, allowing you to trade from anywhere.