Qtrade is a Canadian brokerage that offers financial investment services via an easy to use online trading platform. They have a limited range of trading instruments with no Forex, Crypto or CFD assets. The account funding options are also very sparse when compared to other online brokers.
Qtrade Review, Pros & Cons
- Variety of trading tools
- Easy to use & informative trading platform
- Educational materials
- No MetaTrader platform
- US & Canada traders only
- No Forex, CFDs, Cryptos
- Limited funding options
In this detailed Qtrade review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Qtrade Investor is a Canadian broker offering a wide selection of investments with competitive trading commissions and easy to use trading platforms. They have a variety of major account types to suit different investment levels and needs. Clients also get a range of powerful trading tools, resources and knowledgeable customer support.
Founded in 2000, Qtrade state that their mission “is to empower self-directed investors to achieve their financial goals by delivering Canada’s best online brokerage experience. We focus on the features that matter most to investors”.
Qtrade is regulated by the Investment Industry Regulatory Organization of Canada (IIROC). IIROC is a non-profit, national self-regulatory organization that offers a high amount of investor protection. The brokers parent companies are Aviso Wealth and Desjardins Group and they have a sound financial background. Despite this, Qtrade is not listed on any stock exchange and does not provide any annual financial reports for transparency. Qtrade are also a member of the Canadian Investor Protection Fund (CIPF).
Qtrade is Canadian brokerage serving investors in Canada and the United States. Products and services of Qtrade are only offered in jurisdictions where they may be lawfully offered for sale. Some Qtrade broker features and products mentioned within this Qtrade review may not be available to traders from specific countries due to legal restrictions.
QTrade Trading Platform
Qtrade provides traders with an award winning and accessible trading platform that makes it easier to pursue your investing goals. The brokers online and mobile platforms for iOS and Android allow you to manage your investments anywhere, anytime. You can monitor your portfolio, place trades, get quotes and follow the markets.
The platforms give traders fast access to the markets for stocks, ETFs, mutual funds, bonds, options, GICs and more. Use simple market orders to buy and sell, or use stop-loss, stop-limit or trailing-stop orders to set order parameters, such as the maximum price you will pay for a buy order, or the minimum price you will accept for a sell order.
The equity order entry allows you to take advantage of market opportunities quickly and easily. Intuitive and powerful, Qtrade’s online trading platform put traders in full control with the trading tools and resources that can help to make well-informed decisions. Qtrade platform features include:
- Multiple portfolio views
- In-depth research and analysts’ report
- Stock/ETF/mutual fund screening tools
- $8.75 and $6.95 stock trades and 100 free ETFs
- Fast access to the markets
- Use stop-loss, stop-limit, trailing-stop orders
Qtrade Trading Tools
Qtrade has a good selection of planning and research tools to help you get the right information as and when you need it. They deliver fresh news, essential data and valuable insights. Amongst these trading tools there are:
- Real-time quotes
- Stock screening tools
- Market news
- Customized reports
- Portfolio Analytics
This provides an analytical assessment of your portfolio, helping you better understand your level of risk exposure. You can also see how your portfolio grades across five key financial dimensions, and compare against Canadian and global market benchmarks.
Qtrade have free planning tools and calculators that allow you to project your net worth, and establish an investment plan for retirement, education or other important financial objectives.
There are screening tools to sort through thousands of stocks, mutual funds and ETFs, and find the ones that suit your goals and objectives. You can use prebuilt screens such as undervalued stocks or high dividend yield stocks, or use custom criteria such as sector or market capitalization.
Technical research allows you to search and filter potential investments and evaluate entry and exit points based on bullish or bearish technical indicators.
You can read the daily Morning News Call for stocks to watch along with market, business and economic news. You can also check out new issues for access to IPOs (initial public offerings). Sign up to receive new issue notification emails.
The analysts’ recommendations can help you to make informed trading decisions with well-researched, expert reviews of Canadian and U.S. investments, including top picks for growth, value and income stocks.
The fundamental research for any company covers key performance metrics from its most recent financial statements, along with data on its performance history, ratings, and more — helping you to evaluate the company and compare it to its peer group.
Real-time quotes allow you to follow the market movements.
News feeds detail company earnings and developments, augmented with economic, market and industry news from around the world. Morning News Call packages the day’s top news and insights for you to scan.
Watchlists allow you to create a portfolio of stocks that you would like to monitor. You can also set alerts to be notified when market events or stock price changes occur.
You can get complete data and insight into your accounts and holdings, and compare performance against benchmarks. Switch easily among multiple views including Valuation, Performance and Allocation views.
Account history shows you all transactions on your account since inception including buys, sells, transfers, deposits, stock splits, and dividends.
There is an education section for investing ideas for both beginners and experienced self-directed investors. This section includes:
- How to get the most from your RSP or TFSA
- Learn about margin trading
- Stock trading tips
- Investment guides
Traders can build a diversified investment portfolio with a range of different investments to choose from in different asset classes including:
- Canadian stocks listed on the Toronto Stock Exchange (TSX), TSX Venture Exchange (TSXV), Canadian Securities Exchange (CSE), and the Aequitas NEO Exchange
- U.S. and foreign stocks that trade on the New York Stock Exchange (NYSE) and Nasdaq
- Over-the-counter (OTC) stocks
- Rights and warrants
- $8.75 for everyone
- $6.95 for investors with larger accounts or who trade more frequently
- Thousands of funds to choose from
- Low MER ‘Series D’ funds available
- No commission
- Long calls and puts
- Covered writing
- Uncovered writing
- $8.75 or $6.95, plus $1.25 per contract
New Issues / IPOs
- IPOs (initial public offerings)
- Secondary or treasury offerings
- No commission
Exchange-traded Funds (ETFs)
- 100 commission-free ETFs
- All ETFs on Canadian and U.S. exchanges
- 100 commission-free ETFs
- All others: $8.75 or $6.95
- Canadian and U.S. government and corporate bonds
- Related products such as commercial paper, strip coupons and treasury bills
- $1 per $1,000 face value ($24.99 min / $250 max)
Guaranteed Investment Certificates (GICs)
- Flexible options with rates and maturities to suit your needs
- No commission
Qtrade Accounts & Fees
Qtrade have a choice of different investment accounts for each client’s needs. You can trade stocks through a simple cash account or use leverage with a margin account. For more advanced traders, short selling and options trading are available with a margin account. There are no inactivity fees although they do charge an account maintenance fee of CAD $25 per quarter.
Non-registered accounts include:
Registered accounts include:
Trial accounts to explore Qtrade Investor’s stock quotes, research, screeners and education free for 30 days. With your trial account you’ll be able to:
- Access many of the features that Qtrade Investor clients enjoy
- Research and analyze stocks, including access to sample analysts’ reports
- Use equity, ETF and mutual fund screeners to find investment ideas
- Read current market and economic news
- Manage watchlists to track stocks
Qtrade provide clear and competitive pricing as follows:
- $8.75 stock trades for everyone, regardless of your account value or how much you trade
- $6.95 stock trades for more active traders
As broker fees can vary and change, there may be additional fees that are not listed in this Qtrade review. It is imperative to ensure that you check and understand all of the latest information before you open a Qtrade broker account for online trading.
Qtrade clients get prompt and knowledgeable customer service. They respond to general, account, funding and technical questions in a prompt and efficient manner. You can request a call back, send an email or call them on the telephone number provided Monday to Friday 5:30 am to 5:00 pm PT. The support team are on hand to help you reach your investing goals. Unfortunately they do not offer an online chat option to contact support.
Qtrade Deposit & Withdrawal
You can fund your Qtrade account using bank transfer. They unfortunately do not offer credit/debit card funding or any online payment processors such as Skrill, Neteller, PayPal, etc.
Qtrade Account Opening
Its quick and easy to get started trading online with Qtrade. You simply need to complete the online brokerage account application form. Once verified you can fund your account and start trading online.
Qtrade is a well-established Canadian brokerage offering a modest range of financial investment services to clients of all experience levels. They have a powerful and sophisticated trading platform with a good selection of trading tools. There are some educational materials provided also.
However, the average retail day trader may find the trading instruments limited and lack of MetaTrader platform a deal breaker. There are no forex, futures, CFD, and crypto assets. The account funding options are also very limited. For an alternative option, please see our best canadian brokers.
Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.