Questrade RESP Review 2026 — Fees, Features & Is It Worth It?

9.0

Overall Rating

ETF Buy Commission

Account Fee

Bottom line: Questrade is the best choice for DIY investors who want to hold low-cost ETFs in their RESP. Free ETF purchases and no annual fees make it the lowest-cost option for hands-on investors.

Questrade RESP Overview

Questrade has been Canada's leading discount brokerage since 1999 and is the go-to platform for cost-conscious DIY investors. Their RESP is fully self-directed — you choose your own investments from a wide selection of ETFs, stocks, bonds, and GICs.

The key feature that sets Questrade apart: ETF purchases are always free. You only pay when you sell (typically $4.95–$9.95 per trade). For an RESP investor holding a single all-in-one ETF like XEQT or VEQT and rarely selling, the effective annual cost is almost nothing beyond the ETF's 0.20% MER.

Feature	Details
Account type	Self-directed RESP
ETF buy commissions	Free
ETF sell commissions	$4.95–$9.95
Stock commissions	$4.95–$9.95
Annual account fee	$0
Minimum balance	$1,000 to open (waived for RESP)
CESG processing	Automatic, ~4–8 weeks
CLB support	Yes
RESP types	Individual and Family

Investment Options at Questrade

Questrade offers one of the widest investment selections among Canadian RESP providers:

ETFs: Full selection of Canadian and US ETFs including XEQT, VEQT, XBAL, VBAL, and thousands more — all free to buy
Stocks: Canadian and US equities
Mutual funds: Limited selection, not their strength
GICs: Available for capital-preservation portion of portfolio
Bonds: Bond ETFs available

Recommended RESP Strategy at Questrade

For most RESP investors at Questrade, a single all-in-one ETF makes the most sense:

Age 0–12: XEQT (100% equity, 0.20% MER) — maximum growth while time horizon is long
Age 12–15: XGRO (80% equity / 20% bonds, 0.20% MER) — begin reducing risk
Age 15–18: XBAL (60/40, 0.20% MER) or move some to GICs — protect gains near withdrawal

CESG and CLB at Questrade

Questrade processes CESG applications automatically. When you contribute to your RESP, Questrade submits the grant request to ESDC on your behalf. The CESG typically arrives within 4–8 weeks.

CLB applications are also supported. Questrade will apply for the CLB on your behalf when you set up the account if your child qualifies based on income.

One thing to note: Questrade's CESG processing has occasionally been slower than Wealthsimple's. If CESG speed is critical, factor this into your decision. In practice, for most investors, a few extra weeks doesn't materially affect long-term returns.

Questrade RESP vs Wealthsimple RESP

Feature	Questrade	Wealthsimple
Managed option	No	Yes (0.40–0.50%)
ETF buy commissions	Free	Free
ETF sell commissions	$4.95–$9.95	Free
Investment selection	Wider (stocks, bonds, ETFs)	ETFs + stocks
Mobile experience	Good	Excellent
Best for	DIY investors, ETF holders	Beginners, managed investing

If you plan to buy and hold a single ETF for 18 years (making periodic contributions), both platforms cost about the same. Questrade's sell fees are the main differentiator — but for most RESP investors who only sell at withdrawal time, this is negligible.

Opening a Questrade RESP

Go to Questrade.com and click "Open an account"
Select "RESP" as your account type
Enter your child's SIN and date of birth
Complete identity verification (takes about 10–15 minutes)
Fund the account and purchase your chosen ETF
Questrade applies for CESG automatically

The entire process can be completed online without speaking to anyone. Questrade's customer support is available by chat and phone if needed.

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FAQs

Is Questrade RESP safe? +

Yes. Questrade is a registered IIROC member and CIPF participant. Your RESP investments are protected up to $1 million by the Canadian Investor Protection Fund and held separately from Questrade's assets.

Does Questrade charge for RESP accounts? +

No annual account fee for RESP accounts. You only pay trading commissions when selling ETFs or stocks ($4.95–$9.95 per trade). ETF purchases are always free.

Can I open a family RESP at Questrade? +

Yes. Questrade supports both individual and family RESPs. Contact Questrade support to set up a family plan with multiple beneficiaries.