Questrade Review

Low-cost Canadian self-directed investors

CIRO CIPF

Founded 1999 · Canada

Why investors choose this broker

$0 commission on Canadian and U.S.-listed stocks and ETFs
No account, maintenance or inactivity fees
Fractional share investing on U.S.-listed securities
Multiple registered account types: TFSA, RRSP, FHSA, RESP, RRIF

Review summary

Questrade is a Canadian independent online brokerage founded in 1999, offering commission-free stocks and ETFs, options, bonds, managed portfolios via Questwealth, and forex/CFD trading.

Pros

$0 commission on Canadian and U.S.-listed stocks and ETFs
No account, maintenance or inactivity fees
Fractional share investing on U.S.-listed securities
Multiple registered account types: TFSA, RRSP, FHSA, RESP, RRIF
Questwealth Portfolios robo-advisor with 0.20%-0.25% management fee
Free electronic fund transfer withdrawals
Practice accounts available on Questrade Edge and Questrade Global platforms
Independent of Canadian big banks

Cons

ECN fees can apply on certain stock and ETF orders
Mutual fund trades cost $9.95
Currency conversion mark-up of approximately 2%
Domestic wire withdrawal costs CAD $20; international wire costs CAD $40
Canadian options use a per-trade plus per-contract structure
Fractional shares available only on U.S.-listed securities, not Canadian
Advanced platform features and real-time data require paid subscription tiers

Company background

Questrade was founded in 1999 and is headquartered in Toronto, Ontario. It operates as Canada's largest independent online brokerage, not affiliated with any of the major Canadian chartered banks. The firm manages over $85 billion in assets under administration and serves self-directed investors and managed-portfolio clients across Canada. Products include self-directed trading, automated portfolio management via Questwealth Portfolios, forex and CFD trading via Questrade Global, and registered accounts including TFSA, RRSP, FHSA, and RESP.

Fees and pricing

Questrade eliminated commissions on Canadian and U.S.-listed stocks and ETFs in February 2025. ECN fees of approximately $0.0035-$0.0050 per share may apply on certain order types. U.S. options are priced at $0.99 per contract for the first 250 contracts per month, with volume-based pricing above that threshold. Canadian options use a $9.95 plus $1.00 per contract structure. Mutual fund trades cost $9.95. There are no account, maintenance or inactivity fees on self-directed accounts.

Electronic fund transfer withdrawals are free. Domestic wire transfers cost CAD $20 and international wires cost CAD $40. Currency conversion carries approximately a 2% mark-up. Questwealth Portfolios charges 0.25% annually on balances under $100,000 and 0.20% on balances of $100,000 or more, plus underlying ETF costs.

Regulation and safety

Questrade, Inc. is a registered investment dealer and member of the Canadian Investment Regulatory Organization (CIRO). Client accounts are protected by the Canadian Investor Protection Fund (CIPF), which covers eligible accounts up to $1 million per account category in the event of insolvency. Questrade also carries private excess insurance beyond CIPF limits. In November 2025, Questrade received regulatory approval to operate a banking entity under the name Questbank, subject to OSFI oversight.

Platform experience

Questrade offers multiple trading environments. Questrade Trading is the standard web platform for buy-and-hold investors. Questrade Edge is the advanced platform on web and desktop with a practice account for paper trading. QuestMobile and Questrade Edge Mobile are mobile apps for iOS and Android. Questrade Global is a separate platform for forex and CFD trading with its own practice account. Fractional shares are available on U.S.-listed stocks and ETFs. Questrade integrates with over 30 third-party platforms.

Pros and cons

Questrade's main advantages are zero-commission stock and ETF trading, no account or inactivity fees, registered Canadian account types, fractional shares on U.S. securities, and a low-cost robo-advisor via Questwealth Portfolios. The main drawbacks are ECN fees on certain orders, a 2% currency conversion mark-up, wire withdrawal fees, and a $9.95 mutual fund trade fee.

Ready to open an account at Questrade?

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

Questrade charges $0 commission on Canadian and U.S.-listed stocks and ETFs as of February 2025. Options cost $0.99 per contract for U.S. options (volume-based pricing applies above 250 contracts), ECN fees may apply on certain order types, and currency conversion carries approximately a 2% mark-up.

Fees

Item	Fee
Bonds	Commission varies; minimum order typically CAD $5,000
Funds	$9.95 per mutual fund trade
Margin	Margin interest rate varies; approximately CAD prime + 3.50% for CAD-denominated borrowing
Account	No account opening, maintenance or inactivity fee
Custody	Free for self-directed accounts
Deposit	Electronic fund transfer: Free; Incoming wire: Free
Options	U.S. options: $0.99 per contract for the first 250 contracts per month, with volume-based pricing as low as $0.00; Canadian options: $9.95 + $1.00 per contract (standard); active trader plan: $4.95 + $0.75 per contract
Inactivity	Free (inactivity fee eliminated as of October 2020)
Withdrawal	Electronic fund transfer: Free; Domestic wire: CAD $20; International wire: CAD $40
Fx Conversion	Approximately 2% mark-up on currency conversions

Trading platform & features

Platforms

Questrade Trading
Questrade Edge
QuestMobile
Questrade Edge Mobile
Questrade Global
Web app
iOS app
Android app

Regulation and investor protection

Questrade, Inc. is a registered investment dealer and member of the Canadian Investment Regulatory Organization (CIRO) and the Canadian Investor Protection Fund (CIPF). CIPF coverage protects eligible client accounts up to $1 million per account category in the event of insolvency.

Broker FAQs

Is Questrade safe?

Questrade, Inc. is a registered investment dealer and member of CIRO and CIPF. CIPF protects eligible client accounts up to $1 million per account category in the event of a member firm insolvency. Questrade also carries private excess insurance above CIPF limits.

Is Questrade a scam?

No. Questrade has operated as a regulated Canadian investment dealer since 1999 and is a member of CIRO and the CIPF.

Is Questrade regulated and by whom?

Yes. Questrade, Inc. is regulated by CIRO (Canadian Investment Regulatory Organization) and client accounts are protected by CIPF (Canadian Investor Protection Fund).

Does Questrade keep client funds in segregated accounts?

As a CIRO member, Questrade is required to follow the Canadian Investment Regulatory Organization rules on client asset segregation and protection. Client accounts are also covered by CIPF up to $1 million per account category.

What happens to my money if Questrade goes bankrupt?

Questrade's membership in CIPF means eligible client accounts are protected up to $1 million per account category in the event of insolvency. Questrade also carries private excess insurance beyond CIPF limits.

What products does Questrade offer?

Questrade offers Canadian and U.S.-listed stocks, ETFs, options, bonds, GICs, mutual funds, fractional shares on U.S. securities, forex, CFDs, margin accounts, and automated portfolio management through Questwealth Portfolios.

Does Questrade offer ETFs?

Yes. Questrade offers both Canadian and U.S.-listed ETFs. As of February 2025, ETF buy and sell trades are commission-free, though ECN fees may apply on certain order types.

Does Questrade offer options?

Yes. Questrade offers options on U.S. and Canadian-listed securities. U.S. options cost $0.99 per contract for the first 250 contracts per month with volume-based pricing above that. Canadian options use a $9.95 plus $1.00 per contract structure.

Can I buy fractional shares on Questrade?

Yes. Questrade offers fractional shares on hundreds of U.S.-listed stocks and ETFs. Fractional shares on Canadian-listed securities are not currently available.

Does Questrade offer a robo-advisor?

Yes. Questrade operates Questwealth Portfolios, a managed portfolio service that charges a 0.25% annual management fee on balances under $100,000 and 0.20% on balances of $100,000 or more, plus underlying ETF costs.

What does Questrade charge for stock and ETF trades?

Questrade charges $0 commission on Canadian and U.S.-listed stocks and ETFs as of February 2025. ECN fees of approximately $0.0035-$0.0050 per share may apply on certain order types.

Is there a withdrawal fee at Questrade?

Electronic fund transfers are free. Domestic wire transfers cost CAD $20 and international wire transfers cost CAD $40.

Does Questrade charge an inactivity fee?

No. Questrade eliminated its inactivity fee in October 2020. There are no account maintenance or inactivity fees on self-directed accounts.

What is Questrade's currency conversion fee?

Questrade applies approximately a 2% mark-up on currency conversions. This fee is relevant when trading U.S.-listed securities from a Canadian dollar account and when depositing or withdrawing in a foreign currency.

Does Questrade have a demo account?

Yes. Questrade offers practice accounts on the Questrade Edge platform and on Questrade Global for forex and CFD trading. Practice accounts use virtual funds so users can try the platforms without risking real money.

Does Questrade have a mobile app?

Yes. Questrade provides QuestMobile for casual investors and Questrade Edge Mobile for active traders, available on iOS and Android.

Is Questrade good for beginners?

Questrade offers commission-free stock and ETF trading, no account fees, fractional shares, and Questwealth Portfolios for those who prefer a managed approach. These features can suit investors who are starting out, though more educational resources are available at some competitors.

Is Questrade good for long-term investing?

Questrade's commission-free ETF and stock trading, registered account types (TFSA, RRSP, FHSA, RESP), and Questwealth Portfolios make it a practical choice for long-term, buy-and-hold investors in Canada.

Bottom line

Questrade suits users who want commission-free stock and ETF trading in Canada, low-cost registered accounts, a robo-advisor option, and independence from the major Canadian banks. It may not suit users who trade mutual funds frequently, require fractional shares on Canadian-listed securities, or want to avoid currency conversion mark-ups on U.S.-dollar transactions.

Questrade

Low-cost Canadian self-directed investors

Open Account

Your capital is at risk. Other fees apply.