Questrade at a Glance
Questrade is Canada's largest independent discount brokerage, founded in 1999. While Wealthsimple dominates the beginner market, Questrade is the choice for intermediate and advanced Canadian investors who want lower costs on active trading, better FX options, and professional-grade tools — without paying bank brokerage prices.
Over 450,000 accounts and more than $50 billion in assets. Questrade has been profitable for years and has a strong track record of reliability.
Questrade is the best brokerage for active or intermediate Canadian investors — especially those who trade US stocks, want advanced charting, or need a corporate account. Beginners are usually better starting with Wealthsimple.
What Questrade Offers
Self-Directed Investing
ETFs are free to buy (you pay $4.95–$9.95 to sell). Stock trades cost $4.95–$9.95. Options trading supported. Real-time streaming quotes, advanced charts, and order types like limit, stop, and bracket orders.
Questrade Edge
Questrade's advanced desktop and mobile platform. Real-time level 2 quotes, technical analysis, watchlists, and portfolio analytics. Far more powerful than anything Wealthsimple offers — relevant primarily to active traders.
All Account Types
TFSA, RRSP, FHSA, RESP, LIRA, RRIF, corporate, and joint accounts. Questrade is one of the few online brokerages in Canada that supports corporate investing accounts.
Questrade Fees
- ETF purchases: $0 — free to buy
- ETF sales: $4.95 – $9.95 per trade
- Stock trades: $4.95 min, $0.01/share, max $9.95
- USD/CAD conversion: ~1.75% spread (or ~0.1% with Norbert's Gambit)
- Inactivity fee: $24.95/quarter if under $1,000 balance AND under 2 trades/quarter
The main reason experienced investors choose Questrade for US stock exposure. Buy DLR.TO, journal it to DLR.U.TO, sell for USD. The process takes 1–2 business days and costs ~$10 in commissions versus hundreds in FX fees on large conversions.
Questrade Signup Bonus
New clients get $50 in commission-free trades using referral code 716213846468899. Minimum $1,000 deposit required. Credits are applied to your first stock or ETF sale commissions.
Who Should Use Questrade?
✅ Great for
- Active stock and options traders
- Investors buying lots of US equities
- Business owners needing corporate accounts
- ETF-only investors wanting lowest fees
- Advanced users who want real-time data
❌ Less ideal for
- First-time investors (steep learning curve)
- Anyone with under $1,000 to start
- Those who want the best mobile app
- Infrequent investors (inactivity fee)