Questrade has been a fixture in Canadian investing since 1999, consistently offering lower fees than the big banks while providing a full-featured trading platform. In 2026, it remains the top choice for investors who want USD accounts, Norbert's Gambit for cheap FX conversion, and access to a broader range of securities including options and bonds.
Questrade at a Glance
| Feature | Details |
|---|---|
| Account minimum | $1,000 |
| ETF purchases | Free |
| ETF sales | $4.95–$9.95 |
| Stock trades | $4.95–$9.95 per trade |
| Annual fee | Free (activity fee if <$5K balance + no trades) |
| USD account | Yes (TFSA, RRSP, taxable) |
| FX conversion | ~1.5% (standard) or Norbert's Gambit (~0.1–0.3%) |
| Norbert's Gambit | Yes (phone or online journaling) |
| Options trading | Yes ($9.95 + $1/contract) |
| Margin accounts | Yes |
| LIRA / LIF | Yes |
| Corporate accounts | Yes |
| Regulated by | IIROC, CIPF insured |
Pros
- Free ETF purchases (buy index funds for free)
- USD account — hold US dollars without conversion
- Norbert's Gambit supported for cheap FX
- Broader account types (LIRA, corporate, margin)
- Options and advanced order types
- Better for RRSP US-listed ETF strategy
- Established 25+ year history in Canada
- Strong research tools (Questrade IQ)
Cons
- $1,000 minimum to open account
- ETF sales cost $4.95–$9.95
- Older, less polished mobile app vs Wealthsimple
- No fractional shares
- No crypto trading
- Interface less beginner-friendly
- No automatic recurring purchases for ETFs
Questrade's Biggest Advantage: Free ETF Purchases
Questrade's most important feature for Canadian index investors: buying ETFs is completely free. You only pay a commission ($4.95–$9.95) when you sell ETFs. For a long-term buy-and-hold investor who rarely sells, this means near-zero transaction costs. Buy XGRO or VGRO as many times as you want — for free.
The USD Account Advantage
Questrade offers USD accounts within your TFSA, RRSP, and taxable accounts. This is a crucial feature for RRSP investors who want to hold US-listed ETFs (VOO, VTI, IVV) to avoid the 15% US dividend withholding tax. Convert CAD to USD once (using Norbert's Gambit), then buy US-listed ETFs and hold them long-term in USD — no repeated FX conversion costs.
Questrade Fees: The Full Picture
Questrade's $4.95 minimum/$9.95 maximum per equity trade is competitive with discount brokerages globally. The fee is capped at $9.95 regardless of trade size — so buying 1,000 shares of a $50 stock costs the same $9.95 as buying 10 shares.
The $4.95/month inactivity fee only applies if your portfolio is under $5,000 AND you haven't made any trades in the past 90 days. Most active investors never pay this.
Platform Options
Questrade offers multiple platform versions: the standard Questrade Edge web platform and app (sufficient for most investors), and Questrade IQ Edge for advanced traders who want Level 2 quotes, hotkeys, and advanced charting. Both are included at no extra cost.
Norbert's Gambit at Questrade
Questrade is widely considered the best major Canadian brokerage for Norbert's Gambit. The journaling process can be done through their online portal (for most registered accounts) or by phone. The entire process is well-documented and supported. For RRSP investors making large USD conversions, this can save thousands in FX fees. Full Norbert's Gambit guide.
Who Should Use Questrade?
- Investors who need USD accounts (especially RRSP with US-listed ETFs)
- Anyone who will use Norbert's Gambit for FX conversion
- Options traders and margin investors
- Investors with LIRA accounts from old pension plans
- Business owners investing corporate dollars
- More experienced investors who want better research tools
Build Your Emergency Fund Before Opening Questrade
Questrade requires $1,000 to open — make sure you have an emergency fund on top of that. KOHO earns high interest while you accumulate.