Qtrade Direct Investing Review

Canadian self-directed investors seeking research tools

CIRO CIPF

Founded 2000 · Canada · Aviso Financial Inc.

Why investors choose this broker

Zero-commission trading on stocks, ETFs and mutual funds since October 2025
No quarterly account or inactivity fees
Strong research tools including Morningstar analyst reports and screeners
Portfolio analytics with risk exposure and ESG scoring

Review summary

Qtrade Direct Investing is a Canadian online brokerage offering zero-commission trading on stocks, ETFs and mutual funds, with strong research tools and a robo-advisor option.

Pros

Zero-commission trading on stocks, ETFs and mutual funds since October 2025
No quarterly account or inactivity fees
Strong research tools including Morningstar analyst reports and screeners
Portfolio analytics with risk exposure and ESG scoring
Qtrade Guided Portfolios robo-advisor available for hands-off investors
Wide range of registered account types (TFSA, RRSP, FHSA, RESP, RRIF, LIRA, LIF)
Pre-market and after-hours trading available for U.S. markets
30-day free trial account for platform exploration

Cons

No support for forex, CFDs, crypto, futures or precious metals
No fractional share trading
Currency conversion markup of approximately 0.9% applies to U.S. trades
Stock alerts not available on the mobile app
Options fee of $0.75 per contract is not the cheapest in Canada
Transfer-out fee of $150 per account
Limited to Canadian and U.S. exchanges only
30-day trial account is view-only and does not support simulated trading

Company background

Qtrade Direct Investing was established in 2000 in Vancouver, British Columbia, to serve Canadian credit unions and self-directed investors. It operates as a division of Aviso Financial Inc., backed by provincial Credit Union Centrals, Desjardins, and Co-operators/CUMIS. In April 2024, Aviso Financial Inc. became dual-registered with CIRO as both an investment dealer and mutual fund dealer following the amalgamation of Credential Qtrade Securities Inc. and Credential Asset Management Inc. Qtrade has consistently ranked among the top Canadian online brokerages in The Globe and Mail's annual review, winning first place multiple times over more than two decades.

Fees and pricing

In October 2025, Qtrade moved to $0 commission on all online Canadian and U.S. stock, ETF, and mutual fund trades, and removed quarterly account administration fees. Options cost $0 base plus $0.75 per contract, with a $30 assignment fee. Bonds trade at $1 per $1,000 face value online (minimum $24.99, maximum $250). There is no inactivity fee and no minimum deposit. A currency conversion markup of approximately 0.9% applies to U.S.-denominated transactions from a CAD account. U.S. dollar registered accounts (RRSP, RRIF, TFSA) are charged the equivalent of US $15 per quarter. Account transfer-out costs $150, and closing within the first year adds $100. Mutual fund sales or switches within 90 days of purchase carry a 1% fee (minimum $45).

Regulation and safety

Qtrade Direct Investing is a division of Aviso Financial Inc., a member of the Canadian Investment Regulatory Organization (CIRO). Client accounts are protected by the Canadian Investor Protection Fund (CIPF), which covers eligible assets if a CIRO member firm becomes insolvent. Aviso Financial Inc. is subject to CIRO oversight for both its investment dealer and mutual fund dealer activities.

Platform experience

The Qtrade web platform supports six order types, customizable watchlists, real-time quotes, advanced charting with more than 20 technical indicators, and stock and ETF screeners. Research tools include Morningstar analyst recommendations, fundamental data, and peer group comparisons. Portfolio analytics cover performance, allocation, risk exposure, and ESG scoring. A Portfolio Simulator, Portfolio Creator, Goal Planning tool, and PersonaFin AI news feed are also included. Mobile apps are available for iOS and Android; stock price alerts are web-only. A 30-day free trial account provides access to research and screening features. Qtrade Guided Portfolios is a separate robo-advisor offering ready-made portfolios at a management fee starting at 0.60% annually (tiered, lower on larger balances), plus underlying ETF costs. Pre-market and after-hours trading is available for U.S. markets.

Pros and cons

Qtrade's main advantages include zero-commission trading on stocks, ETFs, and mutual funds, no inactivity or quarterly fees, a wide range of registered account types, strong research and analytics tools, and a robo-advisor option. The main drawbacks are the absence of forex, CFDs, crypto, futures, and fractional shares, a currency conversion markup on U.S. trades, mobile app limitations, and transfer-out fees.

Ready to open an account at Qtrade Direct Investing?

Open an account directly with the broker. Confirm current fees and account eligibility on the broker's website before depositing.

Open Account

Your capital is at risk. Other fees apply.

Trading fees & commissions

Stocks, ETFs, and mutual funds trade at $0 commission. Options cost $0.75 per contract with no base fee, and no quarterly account or inactivity fees apply.

Fees

Item	Fee
Bonds	$1 per $1,000 face value (min $24.99, max $250) online; phone trades add $45
Funds	$0 to buy; 1% fee (min $45) for sales or switches within 90 days
Margin	Variable rate; CAD base rate plus markup depending on debit balance
Account	No account maintenance or inactivity fees
Custody	U.S. dollar registered accounts (RRSP, RRIF, TFSA): CAD equivalent of US $15 per quarter per account
Deposit	Free
Options	$0 base + $0.75 per contract; $30 assignment fee
Inactivity	No inactivity fee
Withdrawal	Free for standard electronic withdrawals
Transfer Out	$150 per account transfer out; $100 account closure fee within first year
Fx Conversion	Approximately 0.9% markup on foreign exchange transactions

Trading platform & features

Platforms

Qtrade Web Platform
iOS app
Android app

Regulation and investor protection

Qtrade Direct Investing is a division of Aviso Financial Inc., a member of the Canadian Investment Regulatory Organization (CIRO). Client assets are protected by the Canadian Investor Protection Fund (CIPF) up to applicable limits.

Broker FAQs

Is Qtrade Direct Investing safe?

Qtrade Direct Investing is a division of Aviso Financial Inc., a CIRO member. Client assets are protected by the Canadian Investor Protection Fund (CIPF) up to applicable limits.

Is Qtrade Direct Investing a scam?

No. Qtrade Direct Investing is a regulated Canadian brokerage operating as a division of Aviso Financial Inc., a member of CIRO. It has been in operation since 2000 and has consistently ranked among Canada's top online brokerages.

Is Qtrade Direct Investing regulated and by whom?

Yes. Qtrade Direct Investing is a division of Aviso Financial Inc., which is a member of the Canadian Investment Regulatory Organization (CIRO). Client accounts are also covered by CIPF.

Does Qtrade Direct Investing keep client funds in segregated accounts?

As a CIRO member, Aviso Financial Inc. is required to hold client assets separately from firm assets. Client accounts are also protected by the Canadian Investor Protection Fund (CIPF).

What happens to my money if Qtrade Direct Investing goes bankrupt?

Client assets held at Qtrade Direct Investing are protected by CIPF, which covers eligible assets if a CIRO member firm becomes insolvent, up to applicable coverage limits.

What products does Qtrade Direct Investing offer?

Qtrade offers stocks, ETFs, mutual funds, bonds, GICs, options, new issues (IPOs), and margin trading on Canadian and U.S. exchanges. It does not support forex, CFDs, crypto, futures, or fractional shares.

Does Qtrade Direct Investing offer ETFs?

Yes. Qtrade offers ETF trading at $0 commission on both Canadian and U.S.-listed ETFs.

Does Qtrade Direct Investing offer options?

Yes. Qtrade offers options trading at $0 base commission plus $0.75 per contract, with access to its Options Lab powered by Trading Central.

Does Qtrade Direct Investing offer bonds?

Yes. Qtrade offers fixed income products including bonds and GICs. Online bond trades are priced at $1 per $1,000 face value (minimum $24.99, maximum $250).

What does Qtrade Direct Investing charge for stock trades?

Stock trades on Canadian and U.S. exchanges are $0 commission online, following Qtrade's move to zero-commission trading in October 2025.

What does Qtrade Direct Investing charge for ETF trades?

ETF trades are $0 commission online for both Canadian and U.S.-listed ETFs.

Is there a withdrawal fee at Qtrade Direct Investing?

Standard electronic withdrawals are free. Transferring your account out to another institution costs $150 per account, and closing an account within the first year incurs a $100 fee.

Does Qtrade Direct Investing charge an inactivity fee?

No. Qtrade does not charge an inactivity fee or quarterly account maintenance fees.

What is Qtrade Direct Investing's currency conversion fee?

Qtrade applies an approximately 0.9% markup on foreign exchange transactions, which applies when buying U.S.-listed securities from a CAD account or converting currencies.

Does Qtrade Direct Investing have a demo account?

Qtrade offers a free 30-day trial account that provides access to research tools, screeners, and platform features. The trial account is view-only and does not support placing simulated orders.

Does Qtrade Direct Investing have a mobile app?

Yes. Qtrade provides mobile apps for iOS and Android. Stock price alerts are available on the web platform only and are not currently supported on mobile.

Is Qtrade Direct Investing good for beginners?

Qtrade offers a 30-day free trial account, educational resources, a goal planning tool, and a robo-advisor option (Qtrade Guided Portfolios). These features make it accessible for new investors. The zero-commission trading model also removes a common barrier for those starting out.

Is Qtrade Direct Investing good for long-term investing?

Qtrade supports long-term investing through a wide range of registered account types including TFSA, RRSP, FHSA, RESP, and RRIF, commission-free ETF trading, dividend reinvestment plans, and the Qtrade Guided Portfolios robo-advisor. It does not offer crypto, forex, or futures for those seeking higher-risk instruments.

Bottom line

Qtrade Direct Investing suits users who want a well-regulated Canadian brokerage with zero-commission stock and ETF trading, strong research tools, a broad range of registered accounts, and an optional robo-advisor. It may not suit users who require access to forex, CFDs, crypto, futures, fractional shares, or non-North American exchanges.

Qtrade Direct Investing

Canadian self-directed investors seeking research tools

Open Account

Your capital is at risk. Other fees apply.