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 $150 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.