Updated March 2025 · 10 min read
No fee everyday banking
Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.
Overall: 4.3 / 5
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.
| 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 |
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.
Browser-based platform with more features than the app. Good for most investors.
Advanced trading platform with charting, technical analysis tools, options chains, streaming quotes, and more. Targeted at active traders.
| 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 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.
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.
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.
| 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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