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HomeInvestmentQuestrade Overview: Execs, Cons, And Alternate options

Questrade Overview: Execs, Cons, And Alternate options

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Questrade is a Canadian funding platform that has gained recognition for its low charges.

Self-directed buyers in Canada have entry to over a dozen on-line brokers and a number of other robo-advisor platforms. One such platform is Questrade, an impartial brokerage that has gained recognition for its no-fee exchange-traded fund (ETF) purchases and no account administration charges.

However how does Questrade examine to different standard Canadian funding platforms, akin to Wealthsimple or the massive financial institution brokerages? We let what Questrade has to supply on this full overview.

Questrade Logo 2024
  • Self-directed buying and selling platform for Canadian buyers 
  • Free ETF purchases, aggressive commission-fees 
  • Additionally presents a robo-advisor platform with Questwealth Managed Portfolios

Self-Directed Buying and selling, Questwealth Portfolios

What Is Questrade?

Questrade is Canada’s largest impartial on-line brokerage. Based in 1999, the Toronto-based firm has over $30 billion in property beneath administration. Questrade is standard amongst Canadian buyers for its mixture of low pricing and buying and selling performance.

questrade homepage

Along with self-directed buying and selling, Questrade presents a robo advisor platform, referred to as Questwealth Portfolios. 

What Does It Provide?

Along with a aggressive charge construction, Questrade has its personal robo-advisor, and no fewer than 5 buying and selling platforms that cater to all kinds of buyers. Here is a more in-depth take a look at what you’ll be able to count on if you join with Questrade. 

Fee-Free ETFs 

Whereas most main U.S. on-line brokers now supply commission-free buying and selling, most Canadian brokerages proceed to cost buying and selling charges. Nevertheless, Questrade doesn’t cost charges for ETF purchases, which is certainly one of its largest attracts. (This is applicable to any out there Canadian or U.S.-listed ETF).

You should still pay ECN (Digital Communication Community) charges, and if you promote an ETF, the usual fee charge applies.

Low Charges On Inventory Trades 

You’ll pay a buying and selling charge to purchase or promote shares by Questrade, however their customary charge is decrease than most Canadian brokers. Questrade prices $0.01/share, with a minimal of $4.95 per commerce, as much as a most of $9.95.

By comparability, TD Direct Investing has a typical buying and selling charge of $9.99, and RBC Direct Investing prices $9.95 for normal inventory and ETF trades.

No Account Charges

Along with its low buying and selling charges, Questrade doesn’t cost administration charges for any of the next account varieties: 

Questrade additionally doesn’t cost inactivity charges on any of its accounts, no matter your steadiness. Chances are you’ll, nevertheless, incur charges for different transactions. For instance, Questrade prices between $20 and $40 for wire transfers, $25 for a cease cost, and a $150 charge should you switch cash from Questrade to a different monetary establishment. 

Questwealth Portfolios

If you’d like the choice of automated investing by a robo-advisor, Questrade has you coated. Its Questwealth Portfolios supply a completely managed investing resolution. You may open an account with as little as $1, and Questrade will start to speculate your cash as quickly as your account reaches $1,000. 


Questrade prices an annual administration charge of 0.25% on balances between $1,000 and $99,999. The AUM charge falls to 0.20% on balances of $100,000 and over. 

Nearly each account kind is offered, together with Money, TFSA, RRSP, Spousal RRSP, RESP, RIF, LIF, and Company Money accounts. 

Questwealth Portfolios cowl the total asset allocation vary, as follows: 

80% Fairness / 20% Fastened Earnings and Money

60% Fairness / 40% Fastened Earnings and Money

40% Fairness / 60% Fastened Earnings and Money

20% Fairness / 80% Fastened Earnings and Money

Along with the abovementioned portfolios, Questrade presents Socially Accountable Investing (SRI) portfolios, with a spread of SRI-focused ETFs. Questwealth Portfolios are competitively priced. ETF MERs for its important portfolios vary between 0.09% and 0.12%. SRI ETF MERs are barely increased, falling between 0.20% and 0.26%. 

Questrade Buying and selling Platforms

Questrade presents two customary and three superior buying and selling platforms. Right here’s a more in-depth take a look at the important thing options of every:

Questrade Buying and selling (Customary)

Questrade’s latest platform is its important web-based platform. It enables you to view your portfolio, place trades, and analysis shares, multi function platform. It additionally incorporates a built-in Studying Mode.

QuestMobile (Customary)

QuestMobile presents many of the performance of Questrade’s internet platform with the convenience of buying and selling on the go. You may entry Studying Mode out of your cell system and acquire real-time snap quote costs of shares and ETFs buying and selling on North American markets.

Questrade Edge Cellular (Superior)

Edge Cellular enhances the cell buying and selling expertise by making it simpler to put superior orders rapidly. It supplies entry to cease and trailing cease orders, multi-leg choice and bracket orders, and extra.

Questrade Edge (Superior)

Questrade’s strongest buying and selling platform, Edge is offered in internet and desktop variations. It accommodates many superior order varieties and presents a extra customizable buying and selling atmosphere, together with choices buying and selling. You additionally achieve entry to high analysis instruments from manufacturers akin to TipRanks, and Morningstar.

Questrade International (Superior)

Questrade’s devoted Foreign currency trading platform means that you can simply place Foreign exchange and CFD trades. You may entry over 15 worldwide exchanges, create personalised watchlists, and execute superior transactions. 

Are There Any Charges?

Questrade doesn’t cost account administration charges. This is a bonus for Questrade, as many Canadian brokerages nonetheless cost account charges on tax-advantaged accounts until you preserve a minimal steadiness requirement. 

As talked about, there aren’t any buying and selling charges for ETF purchases, however you’ll pay a typical buying and selling charge to promote ETFs or purchase and promote shares.

For those who open a Questwealth robo advisor portfolio, the annual administration charge is between 0.25% and 0.20%.

It’s price noting that mutual fund trades are dearer with Questrade than different brokerages, at $9.95. Choices trades are additionally $9.95, plus $1 per contract. 

How Does Questrade Evaluate?

Questrade would possibly supply one of the best mixture of merchandise, buying and selling performance, and value amongst Canadian on-line brokers. Nevertheless, some opponents even have a robust providing.

Wealthsimple is Canada’s largest robo advisor platform, but it surely additionally presents self-directed investing, with no fee charges on inventory and ETF trades. It’s buying and selling platforms, which embody a cell app and desktop buying and selling, are simple to make use of, however restricted in performance. The platform is finest fitted to newer buyers or anybody searching for a free buying and selling choice.

TD Direct Investing is Canada’s largest on-line brokerage, and a division of Toronto Dominion Financial institution, which is the sixth largest monetary establishment in North America by property. You’ll pay increased buying and selling charges with TD DI, and it doesn’t present free ETF purchases.

What it does supply is probably the most in-depth market analysis functionality of any Canadian on-line brokerage. For those who’re an lively dealer, you’ll wish to examine TD and Questrade earlier than making a closing determination. Observe that we’ve not but performed a full overview of TD Direct Investing. 


Questrade Logo 2024
WealthSimple Logo

$4.95-$9.95, plus Free ETF purchases

Robo-Advisor Availability



Is It Protected And Safe?

Sure, Questrade’s platform could be very protected to make use of. For starters, the corporate presents a 100% on-line safety assure. You can be totally reimbursed should you endure a monetary loss attributable to a breach of Questrade’s methods. As well as, its platform is totally encrypted and presents extra safety features, akin to 2-step verification, Contact, and Face ID.

Keep in mind that any market investments usually are not assured. Nevertheless, Questrade is regulated by the Canadian Funding Regulatory Group (CIRO) and is a member of the Canadian Investor Safety Fund (CIPF), which protects Questrade members within the unlikely occasion that the corporate went bankrupt. 

Why Ought to You Belief Us?

I have been writing about investing and have reviewed Canadian brokerage corporations since 2018. I labored as a supervisor with a serious Canadian financial institution for over 15 years, and have in-depth information of Canadian funding platforms, together with Questrade.

The Faculty Investor was one of many first platforms to cowl robo-advisors. Since then, we have reviewed most robo-advisor platforms in the USA. We usually up to date and examined the brand new options that the varied robo advisors supply. Additionally, our compliance staff usually checks and updates the small print on this overview as wanted.

How Do I Contact Questrade?

Questrade presents prospects three factors of contact should you want extra assist. You may e-mail its buyer assist staff at, join through on-line chat, or by phone at 1 833 588 6914, Monday to Friday, 7:30 AM to eight PM EST. 

Who Is Questrade Greatest Suited For?

Questrade is finest fitted to Canadian ETF buyers who will profit from the commission-free ETF trades. Additionally, should you’re searching for a robo advisor different to choices from Wealthsimple or Justwealth, you’ll wish to give Questrade a detailed look.

For those who’re simply beginning out, take into account Wealthsimple Commerce as one other low-cost different. It presents free inventory and ETF trades, however its platform lacks Questrade’s performance. TD Direct Investing may be your only option should you’re a complicated investor looking for probably the most succesful buying and selling platform and market analysis instruments.

Try Questrade right here >>


What are the negatives of Questrade? 

Questrade’s largest disadvantage is its restricted market analysis instruments. For instance, it lacks the inventory screening functionality of extra sturdy platforms, akin to TD Direct Investing.

Is Questrade higher than TD Direct Investing? 

It relies upon. Questrade is extra inexpensive than TD Direct Investing, Canada’s largest on-line brokerage. TD prices a typical buying and selling charge of $9.99 and doesn’t supply free ETF purchases. That stated, lively merchants would possibly respect TD’s extra highly effective analysis instruments.

I stay within the U.S. Can I open a Questrade account? 

You can’t open a Questrade account until you will have a Canadian deal with. Questrade is barely out there to Canadian residents.

What’s required to open a Questrade account? 

Along with a Canadian deal with, you’ll want to offer Questrade with a chunk of government-issued ID and your Social Insurance coverage Quantity (SIN) high open a brand new account. 

Questrade Options

  • Self-Directed Buying and selling
  • Robo-Advisor (Questwealth Portfolios)
  • Money
  • TFSA
  • FHSA
  • RRSP
  • Spousal RRSP
  • RESP
  • RIF
  • LIF
  • LIRA
  • Company Money

Shares: $4.95 (Min) to $9.95 (Max)

ETFs (Purchase): $0

ETFs (Promote): $4.95 to $9.95

Choices: $9.95 + $1 per contract

Mutual Funds: $9.95

Account Administration Charges

Questwealth Administration Charges

  • $1,000 to $99,999: 0.25%
  • $100,000+: 0.20%

Buyer Service Quantity 

Monday to Friday, 7:30 AM to eight:00 PM EST.

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