Updated March 2025 · 10 min read

Questrade Review 2025: Pros, Cons, and Fees

Overall: 4.3 / 5

Bottom Line: Questrade is Canada's best discount broker for active investors and cost-conscious ETF investors. Free ETF purchases, low stock commissions, and a robust platform make it a top choice. Wealthsimple Trade is better for pure beginners.

Questrade has been Canada's leading independent online broker since 1999. With over $30 billion in assets under administration and more than 250,000 accounts opened annually, it's the go-to platform for self-directed Canadian investors who want more tools than Wealthsimple Trade without paying big-bank brokerage fees.

Questrade Fees 2025

Trade Type	Cost
ETF purchases	Free
ETF sales	$4.95 – $9.95
Stock purchases	$4.95 – $9.95 (1 cent/share, min $4.95, max $9.95)
Options	$9.95 + $1/contract
Mutual funds	$9.95 buy and sell
GICs and bonds	Free
USD account	Included (no extra fee)
Currency conversion	~1.75% spread (use Norbert's Gambit to avoid)
Account maintenance	$0 (no minimum balance)
Inactivity fee	$24.95/quarter if under $1,000 and no trades

ETF Investing with Questrade: If you only buy ETFs (never sell), your trading cost is literally zero. Pair a TFSA/RRSP at Questrade with a single XEQT or VEQT purchase and you have a world-class portfolio with no trading commissions.

Questrade Account Types

TFSA (Tax-Free Savings Account)
RRSP and Spousal RRSP
FHSA (First Home Savings Account)
RESP (Registered Education Savings Plan)
LIRA, LIF, RRIF
Non-registered (individual and joint)
Corporate accounts
Margin accounts

Questrade Platform Options

Questrade App (Mobile)

Clean, modern mobile app for iOS and Android. Suitable for buying and selling stocks and ETFs, viewing holdings, and depositing funds. Improved significantly in recent years.

Questrade Web Platform

Browser-based platform with more features than the app. Good for most investors.

Questrade Edge (Desktop)

Advanced trading platform with charting, technical analysis tools, options chains, streaming quotes, and more. Targeted at active traders.

Questrade Pros and Cons

Pros	Cons
Free ETF purchases	$4.95–$9.95 to sell ETFs/stocks
Included USD account	1.75% FX spread (use Norbert's Gambit)
Options trading available	Interface less beginner-friendly than Wealthsimple
Advanced charting (Edge)	Inactivity fee if under $1,000
Broad account types	Customer service can be slow
GICs and bonds available	No fractional shares
Questwealth robo-advisor	More complex for pure beginners

Norbert's Gambit at Questrade

Norbert's Gambit is a technique to convert CAD to USD (or vice versa) at near-spot rates, avoiding the ~1.75% FX spread. The process: buy an inter-listed ETF like DLR in CAD, journal it to DLR.U in USD, then sell. Questrade supports this but requires a phone call to journal the shares — a minor inconvenience for significant savings on large USD conversions.

Questwealth Portfolios (Robo-Advisor)

Questrade's robo-advisor arm, Questwealth, manages diversified ETF portfolios at 0.20–0.25% management fee — the lowest robo-advisor fee in Canada. Minimum $1,000. Good alternative to Wealthsimple Invest for cost-conscious hands-off investors.

Is Questrade Safe?

Yes. Questrade is a member of the Canadian Investment Regulatory Organization (CIRO) and accounts are protected by the Canadian Investor Protection Fund (CIPF) up to $1 million per account category against insolvency.

Questrade vs Wealthsimple Trade: Which to Choose?

Feature	Questrade	Wealthsimple Trade
ETF sells	$4.95 min	Free
Stock trades	$4.95–$9.95	Free
USD account	Included	$3/month (Premium)
Options	Yes	No
GICs/bonds	Yes	No
Best for	Active/intermediate investors	Beginners, casual investors

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