Questrade Review

Alyaziah Hayat | March 25, 2022

Questrade serves Canadian investors with a range of financial products alongside flexible trading platforms and account types. Whilst fees are competitive, the funding options are limited when compared to other online brokers.

Broker Pros / Cons
  • Regulated
  • Canadian Investor Protection Fund (CIPF)
  • Dual currency accounts
  • Range of accounts
  • Flexible trading platforms
  • Canadian clients only
  • No Metatrader
  • Restricted leverage
  • Minimum $1,000 to start investing
  • Inactivity fees


Founded in 1999, Questrade is an online broker for Canadian investors, offering simple and affordable self-directed and managed investments. They have a range of investment choices for all different types of investors, goals and risk levels. Their financial product range includes Stocks, ETFs, IPOs, Mutual Funds, Bonds, GICs, Equities, Metals, Options & Cryptocurrency.

They have around 50,000+ accounts opened on an annual basis and billions of assets under their administration. They have also been a winner of Canada’s Best Managed Companies for 8 years running. In addition, they were ranked as the best online broker by MoneySense in 2019. They ranked #1 for several other categories including customer service.

Operating as an online broker with no physical branches ensures that they can keep operational costs low and pass the savings onto investors with competitive fees. They utilise innovative technologies to deliver stable trading platforms and tools that can help assist with trading decisions whilst they firmly believe in completely transparent pricing.


Questrade Wealth Management Inc. (QWM) and Questrade, Inc. are members of the Questrade Group of Companies. Questrade Wealth Management Inc. is a registered Portfolio Manager, Investment Fund Manager, and Exempt Market Dealer.

Questrade, Inc. is a registered investment dealer and a member of the Investment Industry Regulatory Organisation of Canada (IIROC) and Canadian Investor Protection Fund (CIPF), the benefits of which are limited to the activities undertaken by Questrade, Inc. QWM is not a member of IIROC or the CIPF.

This means that Questrade, Inc operations are monitored by regulatory authorities to ensure that they abide by the strict regulations in place to protect clients and meet the required industry standards.

Questrade work hard to protect their customers. This includes an additional $10 million in private insurance for all self-directed and managed accounts in the scenario that the company was to go out of business.

They use the latest technologies to keep accounts encrypted and securely stored. This includes Digicert, Last Login, Touch/Face ID and PIN. Furthermore, there is an online security guarantee where they offer 100% reimbursement for any unauthorised transactions in your Questrade account that result in direct losses to you (subject to terms & conditions).

Questrade currently only offer their financial services to Canadian residents.


Questrade have a choice of flexible and powerful trading platforms for efficient and confident trading for all skill levels. This includes fast, easy-to-use mobile and web apps.

Questrade Trading Platform

Questrade Trading Platform

Questrade Trading Platform

This is the intuitive all-in-one web-based platform for secure trading from anywhere. You can login to the platform to view and manage your account, conduct market research and analysis, place and manage positions, check performance and more.

The platform contains a range of built in tools to assist traders including symbol look up, alert notifications, advanced charting, market research, market data, watchlists, etc.

The Questrade web platform is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).

Questrade Mobile App

Questrade Mobile App

Questrade Mobile App

The Questrade mobile app allows clients to trade and manage their account whilst on the go. Users can easily place trades in real time with access to your investment details and withdraw or transfer between Questrade accounts.

The mobile app implements the same features as the web-based platform with a range of built in tools to assist traders including symbol look up, alert notifications, advanced charting, market research, market data, watchlists, etc.

The Questrade mobile app is available for download on both Android and iOS devices.

IQ Edge Platform

Questrade IQ Edge Platform

Questrade IQ Edge Platform

IQ Edge is a powerful yet free downloadable desktop platform for active and pro traders. It offers an intuitive and sleek, fully customisable interface with a range of features for advanced analysis and trading. Amongst the built-in features and tools are advanced charting capabilities, multiple order types, screeners, alerts, symbol look up, market research, market data, watchlists, etc.

Market Data Packages

There is a choice of market data packages to choose from with more market depth to assist with making informed trading decisions. The available packages are:

Basic Real Time Market Data

  • Novice traders
  • See the real-time data of a security with one click in Questrade’s trading platforms
  • Includes level 1 snap quotes for all major North American exchanges
  • One-click real-time data
  • Comes with every platform

Enhanced Live Streaming Data

  • Novice to intermediate traders
  • Includes level 1 American exchanges and Canadian exchanges
  • Live streaming for Intraday Trader
  • Individual data add-ons available
  • $19.95 month fee (100% rebatable)
  • Spend more than $48.95 in trading commissions and get an automatic $19.95 rebate

Advanced US Live Streaming Data

  • For active traders who want U.S. data
  • Unlocks active trader pricing
  • Individual data add-ons available
  • Includes level 1 and 2 American exchanges and level 1 Canadian exchanges
  • $89.95 month fee (100% rebatable)
  • Partial and full rebates available

Advanced Canadian Live Streaming Data

  • For active traders who want Canadian data
  • Unlocks active trader pricing
  • Individual data add-ons available
  • Includes level 1 and 2 Canadian exchanges and level 1 American exchanges
  • $89.95 month fee (100% rebatable)
  • Partial and full rebates available


They have a range of useful tools to help keep you in tune with the different financial markets. These tools can be used to spot market growth, see the latest investment trends, understand new trading principles and get an overall feel for current market situation.

Market Intelligence

Traders have access to the latest reports, earnings, filters and screeners that are required to stay on top of the latest market happenings.

Questrade Market Intelligence

Questrade Market Intelligence

Intraday Trader

The intraday trade can help to identify potential investment opportunities throughout the day and match them up with your watchlist.

Questrade Intraday Trader

Questrade Intraday Trader

IPO Centre

The IPO centre can provide you with the latest initial public offering opportunities sent directly to your inbox.

Questrade IPO Centre

Questrade IPO Centre

Platform Tools

There is a vast array of useful trading tools built in to the various trading platforms offered. This includes technical indicators and graphical objects.

Investment Blog

The Questrade blog helps you to learn more about investing with interesting stories and articles.

Investment Webinars

There is a series of video webinars to assist with increasing your investment knowledge.


Questrade have a wide product range including Stocks, ETFs, IPOs, Mutual Funds, Bonds, GICs, Equities, Metals, Options and Cryptocurrencies.

Exchange Traded Funds (ETFs)

ETF’s can be a mix of stocks, bonds and other investments. Although similar to a mutual fund, the primary difference is that ETFs can be bought and traded like a stock. North American-listed ETF’s can be bought commission-free through Questrade, with no maximum amount or minimum requirement.

Mutual Funds

The mutual funds let investors pool money together to invest as a group into a portfolio of investments. These are often used as a way to diversify an investment portfolio and spread risk across different securities. Funds have different criteria and thus an investor can choose the fund that is more suitable for their risk preferences and investment profile.


Clients can buy and sell stocks from a range of popular companies with fees from as low as low as 1¢ / share, with a min. $4.95 to max. $9.95.


Options are contracts to buy or sell stock holdings at a set price at a later date from $9.95 + $1/contract. Clients can speculate with leverage although this can increase risk and you should clearly understand the implications and dangers of using leveraged products.


Initial Public Offerings (IPOs) let investors provide capital that could potentially grow a business before it hits the wider market and goes public for the first time. Questrade offer Equities, fixed income, and structured products. These are free to buy, with a minimum requirement of $5,000.


There are a variety of accounts to choose from at Questrade for various long term and short term investment goals. Clients can choose to invest with TFSAs, RRSPs, RESPs, margin accounts, and more. Practice accounts are available to test the different trading platforms and conditions before opening a real account.

No minimum is required to open an account and there is no limit on the amount of accounts you can have. However, to begin investing, you need a minimum of at least $1,000 in your account.

They charge no account opening or closing fees and no annual RRSP/TFSA account fees. There are other fees including inactivity, administrative and account fees. Inactivity fees are charged in any quarter to clients who have not placed a trade in the previous quarter or have less than $5,000 in investment/cash in all of their account(s), including joint accounts.

Questrade offer dual currency accounts where you can hold Canadian and U.S. currency and thus avoid currency conversion fees that some other brokers may charge. They also offer margin accounts which enables clients to increase their buying power through leveraged positions. Leverage can increase risk exposure.

Clients can get mutual fund rebates where eligible trailer fees are automatically reimbursed back into your account every quarter.

Self-directed Investing

The self-directed investing account lets you control your own investment portfolio. Self-directed account options include margin accounts, tax free savings account (TFSA), registered retirement savings plan (RRSP), forex & CFD account.

Self-directed investing fees are as follows:

  • Stocks: as low as 1¢ / share, with a min. $4.95 to max. $9.95
  • ETF: free to buy, sell 1¢/share; with min. $4.95 to max. $9.95
  • Options: trade from $9.95 + $1 / contract
  • Mutual funds: $9.95 / trade
  • Bonds: Min. $5,000 purchase
  • GICs: Min. $5,000 purchase
  • International equities: Min. $195.00 plus applicable exchange or stamp fees, charged in the currency of the account in which the trade is placed. 1% of the trade value
  • IPOs and new issues: Min. $5,000 purchase
  • Precious metals: $19.95 USD / trade

Questwealth Portfolios

The Questwealth Portfolio account offers a pre-built portfolio according to your risk preferences. Your customised portfolio is built by Questrade experts according to your investment needs and goals.

  • Customised managed portfolio
  • Management fees starting at 0.25% (0.20% after $100,000)


Customer support is provided via online chat, telephone and email.


Questrade offer 10 different ways to fund your account, each with different processing times. Depending on the currency of the deposit and how quickly you want the money in your account, choose the method that works the best for you. It may take an additional 1–2 business days to activate new accounts. Bank transfer is one of the more popular methods offered although they are lacking in online payment processor options such as PayPal, Skrill and Neteller.


Setting up a Questrade account only takes a few minutes online. To get started, you simply need to visit the Questrade website and click on the open an account link. You’ll be able to set up your account online and start investing within minutes.

Questrade Account Opening

Questrade Account Opening


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TypeMarket Maker, STPSTP, ECN, DMAECN
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Whilst Questrade have competitive fees with a range of flexible financial products and accounts, they are only offering their services to Canadian investors. The platform options are user friendly, powerful and compatible across multiple devices. Funding options are limited.

Questrade Logo

Min $1 Deposit

Questrade serves Canadian investors with a range of financial products alongside flexible platforms & account types. Whilst fees are competitive, the funding options are limited.

Trading involves financial risk and may not be appropriate for all investors.

About the Author

Alyaziah Hayat
I had previously been forex trading for about 2 years and I now mainly focus on writing forex-related content. I also deal with cryptocurrencies and other financial assets in this industry. I've dealt with several brokers, assets, EA robots, and everything that this industry has to offer.

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