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.
Questrade has been Canada's leading discount brokerage for over 20 years. This review covers fees, features, account types, and how it compares to Wealthsimple in 2025.
| Trade Type | Fee | Notes |
|---|---|---|
| ETF purchases (TSX) | Free | All Canadian ETFs free to buy |
| ETF sales | $4.95 | Per trade |
| Stock purchases (CAD) | $4.95–$9.95 | Min $4.95, max $9.95 |
| Stock purchases (USD) | $4.95–$9.95 USD | Same fee structure |
| Options | $9.95 + $1/contract | Per trade |
| Currency conversion | 1.75% spread | Or use Norbert's Gambit |
| Account maintenance | $24.95/quarter | Waived for $5K+ or active traders |
| Feature | Questrade | Wealthsimple |
|---|---|---|
| ETF purchases | Free | Free |
| ETF sales | $4.95 | Free |
| Stock trading | $4.95–$9.95 | Free |
| USD account | Yes (CAD+USD) | No (CAD only) |
| Norbert's Gambit | Yes (easy) | Not supported |
| Research tools | Better (Level 2, charting) | Basic |
| Options trading | Yes | No |
| Crypto | No | Yes |
| Robo-advisor | Questwealth (0.25%) | Wealthsimple Invest (0.5%) |
Yes. Questrade is regulated by IIROC and is a member of CIPF (Canadian Investor Protection Fund), protecting accounts up to $1 million. It's been operating since 1999 and is Canada's largest independent broker.
Questrade charges a $24.95 quarterly maintenance fee, which is waived if your account balance is $5,000 or more, or if you make at least one trade per quarter. Most active investors won't pay this fee.
Yes. Questrade accepts transfers from other brokerages and banks. In-kind transfers (moving securities without selling) may be done depending on the assets. Questrade will reimburse up to $125 in transfer-out fees from your old institution.
Questwealth charges 0.25% (vs. 0.5% at Wealthsimple) — making it the cheaper robo-advisor option. Both build diversified ETF portfolios automatically. Questwealth's lower fee compounds significantly over decades.
The minimum initial deposit is $1,000 for most account types. RESP accounts have no minimum.