Questrade Review 2026 — Canada's Best Discount Broker?

Questrade at a Glance (2026)

Feature	Details
Founded	1999 (Canadian-owned)
ETF commissions	Free to buy; $4.95–$9.95 to sell
Stock commissions	$4.95–$9.95 per trade (max $9.95)
Options	$9.95 + $1/contract
Minimum balance	$1,000
USD accounts	Yes (TFSA, RRSP, non-reg)
Account types	TFSA, RRSP, RESP, LIRA, LIF, Non-Reg, Margin
Regulation	CIRO (formerly IIROC), CIPF member
Inactivity fee	$24.95/quarter if balance under $5,000 (waived with $5K+)

Questrade's Key Advantage: Free ETF Purchases

Questrade pioneered free ETF purchases in Canada in 2009. You can buy any ETF commission-free — only sell orders incur a fee ($4.95–$9.95). For buy-and-hold ETF investors, this means:

Monthly contributions to XEQT/VEQT cost $0
Dividend reinvestment via new share purchases costs $0
Annual rebalancing (selling occasionally) costs $4.95 per order
A typical passive ETF investor might pay $10–$30/year total in commissions

Compared to Wealthsimple Trade, the difference is minimal for ETF-only investors. Questrade's advantage shows when you need USD accounts, advanced features, or options trading.

USD Account — Questrade's Major Advantage

Questrade allows you to hold actual USD in your TFSA, RRSP, and non-registered accounts. This enables:

USD-denominated ETFs — buy VTI, IVV, or other US-listed ETFs without currency conversion costs
Norbert's Gambit — exchange currency at near-mid-market rates using DLR/DLR.U strategy
Dividend income in USD — reinvest US dividends without conversion
No forced conversion — unlike Wealthsimple Trade (free plan), you control when to convert

For investors with significant US equity exposure (common with XEQT holders), having USD accounts at Questrade can save hundreds annually in FX fees. See our best USD accounts guide for more context.

Questrade Pros and Cons

Pros

Free ETF purchases
USD accounts in TFSA/RRSP
Supports Norbert's Gambit
More account types than Wealthsimple
Options trading available
Strong research and charting tools
25+ years of Canadian track record
CIPF protected

Cons

$4.95–$9.95 to sell ETFs/stocks
$1,000 minimum to open
$24.95/quarter inactivity fee (under $5K)
Interface less polished than Wealthsimple
Customer service slower than ideal
No commission-free stocks (unlike Wealthsimple)

Questrade vs. Wealthsimple Trade — Which Is Better?

Factor	Questrade	Wealthsimple Trade
ETF purchases	Free	Free
Stock purchases	$4.95–$9.95	Free
USD accounts	Yes	No (Plus: converts at 1.5%)
Options trading	Yes	No
Norbert's Gambit	Yes	No
Account minimum	$1,000	$1
RESP account	Yes	No
Fractional shares	No	Yes

Choose Questrade if you have US equity holdings, need RESP or LIRA accounts, want options trading, or plan to use Norbert's Gambit. Choose Wealthsimple Trade if you're a beginner, invest primarily in Canadian-listed ETFs, or want fractional shares and a simpler interface.

Frequently Asked Questions

Is Questrade safe?

Yes. Questrade is CIRO registered and a CIPF member, protecting your investments up to $1 million per account type. It has operated continuously since 1999 and is one of Canada's most established independent discount brokers.

Does Questrade have a TFSA?

Yes. Questrade offers TFSA, RRSP, FHSA, RESP, LIRA, LIF, and non-registered accounts — more account types than most competitors. You can hold stocks, ETFs, options, and GICs in all account types.

How do I avoid Questrade's inactivity fee?

Maintain a total account balance of $5,000 or more across all your Questrade accounts, or make at least one trade per quarter. Most active investors will easily avoid this fee.

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