Questrade Review 2026
This Questrade review finds a broker that charges $0 commission on Canadian and US stocks and ETFs, lets you hold US dollars in registered accounts at no extra cost, and offers every one of the 10 account types we count. Questrade earns an overall score of 4.3 / 5, first of the 13 online brokers we score, and 4.6 / 5 for US stocks. The costs that remain are real: effectively 0% interest on uninvested cash, a margin rate of 8.70% under $100,000, $24.95 to exercise an option and a $150 fee to transfer out. We also review Questwealth Portfolios, its robo-advisor, which scores 4.1 / 5. All figures are as of October 22, 2026.
Written by Sharad Gondaliya, CPA CPAChartered Professional Accountant, CPA Ontario No. 61040184
Financial reviewer: Neha Gupta, CFA CFA charterholderReview of this page scheduledAt a glance
Verdict. Questrade is a low-cost, full-range broker for Canadians who buy and hold, trade US stocks inside an RRSP or TFSA, or want a family RESP and locked-in accounts under one login. It is a weak choice for anyone who borrows on margin or leaves cash sitting idle.
Score. Questrade scores 4.3 / 5 overall (4.325 before rounding), rank 1 of 13 online brokers as of October 23, 2026. Desjardins Online Brokerage (Disnat) also shows 4.3 / 5, but Questrade is ahead before rounding. Questrade ranks 2 of 13 in our US stocks list (4.6 / 5) and 3 of 13 for beginners (4.4 / 5).
Commissions. Questrade charges $0 to buy or sell Canadian and US stocks and ETFs online. ECN fees apply only to US orders you route directly to a venue, and the usual SEC fee applies on US sales.
US dollars. Questrade accounts, including registered accounts such as the TFSA and RRSP, can hold US dollars at no extra cost, and no separate USD account fee is listed. With $0 US commissions, that gives Questrade the full 5.0 on our US investing factor.
What it costs to hold and leave. There is no annual account fee and no inactivity fee. Moving an account out to another institution costs $150. Moving one in can earn a rebate of the other firm’s fee, up to $150 per account.
Questwealth Portfolios. Questrade’s robo-advisor charges 0.25% a year, or 0.20% from $100,000, plus fund costs of up to 0.12% for its standard portfolios. It scores 4.1 / 5, rank 2 of the 4 robo-advisors we rank.
Questrade score breakdown
| Factor | Weight | Questrade score (out of 5) | Weighted points | What we measured |
|---|---|---|---|---|
| Cost | 35% | 5.0 | 1.750 | Commissions plus account fees: $0.00 a year for our buy-and-hold profile and $0.00 for our active profile, an average of $0.00 |
| Account types | 15% | 5.0 | 0.750 | All 10 account types we count, from TFSA and FHSA to LIRA, joint and corporate |
| US investing | 15% | 5.0 | 0.750 | US dollars in registered accounts at no fee (3 points); $0 US commission (2 points) |
| Cash and margin | 10% | 0.5 | 0.050 | CAD margin of 8.70%, above 6.5% (0.5 points); cash interest effectively 0% (0 points) |
| Platform | 15% | 4.5 | 0.675 | Fractional shares, DRIP, options and Questrade Pro (1 point each); a mobile app is not named on the pages we checked (0.5) |
| Safety | 10% | 3.5 | 0.350 | Questrade, Inc. is a CIPF member; CIRO membership is not stated on the pages we checked |
| Total | 100% | 4.325, shown as 4.3 / 5 | Rank 1 of 13 online brokers |
Cost uses commissions and account fees for two trading profiles, and the US score uses USD in registered accounts and US commissions. Every factor, weight and points rule is printed on our broker rating methodology page. No provider pays for a score or a rank; see how WealthScale makes money and our editorial standards.
Use the broker cost calculator below to enter your own trades and see the yearly cost at Questrade next to every other broker we score.
1. Questrade Review: Our Verdict
The short version. Questrade scores 4.3 / 5 and ranks first of the 13 online brokers we score. Desjardins Online Brokerage (Disnat) also rounds to 4.3 / 5, but Questrade is ahead before rounding (4.325 against 4.275). Interactive Brokers Canada, Wealthsimple and National Bank Direct Brokerage follow at 4.2 / 5. Questrade earns first place on three things: $0 commissions on stocks and ETFs, every account type a household is likely to need, and US dollars held in registered accounts at no extra cost.
Where it earns its score. Cost carries 35% of the score, and Questrade’s buy-and-hold and active profiles both cost $0.00 a year in commissions and account fees, so it scores the full 5.0 on cost. It scores the full 5.0 on account types because it offers all 10 we count, including RESP, LIRA, joint and corporate accounts that moomoo and Webull do not list. It also scores the full 5.0 on US investing, a top mark it shares only with Desjardins Online Brokerage (Disnat) and National Bank Direct Brokerage.
Where it loses points. Cash and margin is Questrade’s weakest factor at 0.5 of 5. Its published cash interest formula gives 0% at today’s prime rate, and its 8.70% margin rate under $100,000 is the highest of the 10 brokers that publish one. Safety scores 3.5 of 5 under our rubric: Questrade, Inc. is on the CIPF member list, but CIRO membership is not stated on the pages we checked.
US investing. Questrade charges $0 commission on US stocks and ETFs and lets your TFSA and RRSP hold US dollars with no USD account fee. By contrast, Wealthsimple charges $10 plus tax a month for a USD account on its Core tier, and Qtrade charges US$15 a quarter per registered account unless you qualify for Investor Plus. Interactive Brokers Canada charges USD 0.005 a share with a USD 1 minimum on US trades.
Who should pick it. Questrade fits long-term investors, families who want a family RESP next to their TFSA and RRSP, people with a LIRA from a former employer, and anyone who wants a robo-advisor and a self-directed account at the same firm. Active traders who borrow on margin, or investors who keep large cash balances, will usually do better elsewhere. Compare it with our full best online brokers in Canada ranking before you decide.
2. Questrade Fees and Commissions
Stocks and ETFs. Questrade charges $0 to buy or sell Canadian-listed stocks and ETFs online, with no ECN fees on Canadian securities. US stocks and ETFs are also $0 commission. ECN fees apply only to US orders you route directly to a venue: for example, US$0.003 to US$0.004 a share on orders that remove liquidity. Fills in the overnight US session cost US$0.003 a share, and US sales carry the SEC fee of 0.0000206 times the trade value, or US$0.21 on a US$10,000 sale.
Fees to hold an account. There is no annual account fee. The inactivity fee is $0 whether your combined equity is over or under $1,000. Questrade Plus is an optional subscription at $19.99 a month; the one benefit we could confirm is a CA$0.05 per contract cashback on US equity options, so it only pays for itself at 400 or more contracts a month ($19.99 ÷ $0.05 = 399.8).
Fees to leave. A full or partial transfer to another institution costs $150. That is the same as TD Direct Investing, RBC Direct Investing, Scotia iTRADE, National Bank Direct Brokerage and Qtrade, but Wealthsimple charges $0 to transfer out. If you might switch again within a few years, count the $150 as part of the cost of owning the account.
| Item | Questrade fee |
|---|---|
| Canadian stocks and ETFs, online | $0 commission; no ECN fees on Canadian securities |
| US stocks and ETFs, online | $0 commission |
| ECN fee on a direct-routed US order that removes liquidity | For example US$0.003 or US$0.004 a share |
| US overnight-session fills | US$0.003 a share |
| SEC fee on US sales | 0.0000206 x trade value |
| Fractional share trades | $0 commission on eligible Canadian and US stocks and ETFs |
| Dividend reinvestment (DRIP) | $0 |
| US dollars in registered accounts | No extra cost |
| Annual account fee | $0 |
| Inactivity fee | $0, over or under $1,000 of combined equity |
| Questrade Plus subscription (optional) | $19.99 a month |
| Transfer out, full or partial | $150 |
What four investors pay. We priced four yearly patterns at Questrade’s published rates, counting commissions plus account fees. Every trade is a $2,000 order of 40 shares, and no order is direct-routed. The buy-and-hold investor makes one Canadian ETF purchase a month. The active investor makes two Canadian trades and one US trade a month. The US-focused investor makes one US trade a month. The options trader makes four US equity options trades a month of two contracts each.
| Profile | Trades a year | Commissions | Account fees | Yearly cost |
|---|---|---|---|---|
| Buy-and-hold | 12 Canadian | $0.00 (12 x $0) | $0.00 | $0.00 |
| Active | 24 Canadian, 12 US | $0.00 (36 x $0) | $0.00 | $0.00 |
| US-focused | 12 US | $0.00 (12 x $0) | $0.00 | $0.00 |
| Options | 48 options trades, 96 contracts | $0.00 (96 x $0) | $0.00 | $0.00 |
The pattern. At Questrade, trading costs nothing in all four profiles and there is no annual account fee, so each profile costs $0.00 a year. The costs that remain sit elsewhere: $24.95 to exercise an option, 8.70% margin interest under $100,000 and $150 to transfer out. Section 13 sets these totals beside Wealthsimple, Interactive Brokers Canada and Qtrade, and our investment fee calculator adds up commissions, account fees and fund costs for your own pattern.
3. Questrade US Investing and USD Accounts
US commissions. Questrade charges $0 commission to buy or sell US stocks and ETFs online, as of October 22, 2026, including fractional trades in eligible US stocks and ETFs. The only trading charges on US orders are the ECN fee on direct-routed orders, the US$0.003 a share on overnight-session fills and the SEC fee on sales, all listed in section 2. On a US$10,000 sale the SEC fee is US$0.21 (US$10,000 x 0.0000206 = US$0.206).
USD in registered accounts. Questrade accounts, including registered accounts such as the RRSP and TFSA, can hold US dollars directly, and no separate USD account fee is listed. That earns the full 3 points for USD in registered accounts, while Wealthsimple Core charges $10 plus tax a month for a USD account and Qtrade charges US$15 a quarter per registered account unless you qualify for Investor Plus.
How the US score works. Our US investing factor gives 3 points for US dollars in registered accounts with no fee (1.5 if a fee applies, 0.75 if not stated) and 2 points for a $0 US commission (1.5 at $2 or less, 0 above). Questrade scores (3 + 2 = 5.0) of 5. On our US stocks list, which gives this factor a 40% weight, Questrade scores 4.6 / 5, level with Desjardins Online Brokerage (Disnat) at 4.575 before rounding; ties are ordered by name, so Questrade is listed second of 13.
US dividend withholding. Where you hold US shares decides how much US tax comes off their dividends. Under the Canada-US tax treaty, US dividends paid into an RRSP, RRIF, LIRA or LIF are exempt from US withholding once the account is documented. In a TFSA, FHSA, RESP or non-registered account, 15% is withheld with a Form W-8BEN on file, or 30% without one. On US$1,000 of dividends in a TFSA, US$150 is lost and cannot be recovered as a foreign tax credit. Our guide to US stocks in a TFSA covers this in full.
| Broker | US stock and ETF commission | USD in registered accounts | US investing sub-score (out of 5) |
|---|---|---|---|
| Questrade | $0 | No extra cost | 5.0 |
| Wealthsimple | $0 | $10 a month on Core; included on Premium and Generation | 3.5 |
| Qtrade Direct Investing | $0 | US$15 a quarter per account (RRSP, RRIF and TFSA); free with Investor Plus | 3.5 |
| moomoo Canada | US$0.0099 a share, minimum US$1.99 | TFSA and RRSP can hold USD; no fee stated | 4.5 |
| Interactive Brokers Canada | USD 0.005 a share, minimum USD 1 | Not stated | 2.25 |
Questrade ranks first of seven brokers on our list of the best brokers for dividend investing, which ranks brokers that offer DRIP by overall score. For the order of trades, accounts and tax forms, see our step-by-step guide on how to buy US stocks in Canada.
4. Questrade Account Types
The full list. Questrade offers all 10 account types we count, and its list goes further. It offers the TFSA, FHSA, RRSP and spousal RRSP, RRIF, LIF, LIRA and locked-in RRSP, RESP and family RESP, plus individual cash, individual margin and joint margin accounts. For businesses and estates there are corporate cash and margin, partnership, sole proprietorship, informal and formal trust, and estate accounts. Questrade also lists CFD accounts.
| Purpose | Accounts offered |
|---|---|
| Tax-free and home savings | TFSA, FHSA |
| Retirement savings | RRSP, spousal RRSP |
| Retirement income | RRIF, LIF |
| Locked-in pension money | LIRA, locked-in RRSP |
| Education | RESP, family RESP |
| Personal non-registered | Individual cash, individual margin, joint margin |
| Business, trust and estate | Corporate cash and margin, partnership, sole proprietorship, informal and formal trusts, estate |
Why it matters. A family RESP lets one plan cover several children, and Questrade is first of nine brokers in our list of RESP providers ranked by overall score. Its LIRA and LIF support also puts it first of nine on our best LIRA accounts list. Interactive Brokers Canada does not describe RESP, LIRA or LIF accounts on the pages we checked, and Webull and moomoo do not list any of them.
Registered account rules still apply. The 2026 TFSA dollar limit is $7,000, the 2026 RRSP dollar limit is $33,810, and the FHSA gives $8,000 of room a year up to a $40,000 lifetime limit. Questrade does not change these limits, and over-contributing is taxed no matter where the account sits. Our guides to the TFSA, RRSP and FHSA explain the rules.
Ranks by account. Among brokers that offer each account, Questrade ranks 1 of 13 for the TFSA and RRSP, 1 of 11 for the FHSA and 1 of 10 for the RRIF. Each time Desjardins Online Brokerage (Disnat) also shows 4.3 / 5, and Questrade leads on the unrounded score. See our lists of the best TFSA accounts, best RRSP accounts and best FHSA accounts.
See how Questrade’s accounts and costs compare with its closest rival, line by line.
5. Questwealth Portfolios: Questrade’s Robo-Advisor
What it is. Questwealth Portfolios is Questrade’s managed investing service, run by Questrade Wealth Management Inc. You pick a portfolio and it builds and manages a mix of ETFs for you. It comes in two families: the standard Questwealth Portfolios and Questwealth SRI Portfolios. A halal portfolio is not mentioned on its pages.
What it costs. The management fee is 0.25% a year on balances of $250 to $99,999 and 0.20% at $100,000 or more. On top of that you pay the ETFs’ own fund costs: up to 0.12% for the standard portfolios and up to 0.24% for the SRI portfolios. There are no opening fees, trading commissions or EFT fees.
| Balance | Management fee | Fund costs | Total a year | Total as a percentage |
|---|---|---|---|---|
| $10,000 | $25.00 (0.25%) | $12.00 | $37.00 | 0.37% |
| $50,000 | $125.00 (0.25%) | $60.00 | $185.00 | 0.37% |
| $100,000 | $200.00 (0.20%) | $120.00 | $320.00 | 0.32% |
| $250,000 | $500.00 (0.20%) | $300.00 | $800.00 | 0.32% |
Its robo-advisor score. Questwealth Portfolios scores 4.1 / 5 (4.080 before rounding), rank 2 of the 4 robo-advisors we rank, behind Wealthsimple Managed Investing at 4.2 / 5. It has the lowest all-in cost of the four on $50,000 at 0.37%, against 0.65% at Wealthsimple Managed Investing, 0.70% at RBC InvestEase and 0.83% at CI Direct Investing. It loses ground on advice: a team of experts manages the portfolios, but client-facing advice is not described.
| Factor | Weight | Score (out of 5) | Weighted points | What we measured |
|---|---|---|---|---|
| Fees | 45% | 4.9 | 2.205 | 0.25% fee plus 0.12% fund costs = 0.37% on $50,000 |
| Accounts | 15% | 4.5 | 0.675 | Nine of the 10 account types we count |
| Portfolios | 15% | 3.0 | 0.450 | Two portfolio families: standard and SRI |
| Minimum | 10% | 4.5 | 0.450 | Lowest fee tier starts at $250 |
| Advice | 15% | 2.0 | 0.300 | No client-facing advice described |
| Total | 100% | 4.080, shown as 4.1 / 5 | Rank 2 of 4 robo-advisors |
Accounts and gaps. Questwealth’s account list covers the RRSP, spousal RRSP, LIRA, locked-in RRSP, RRIF, LIF, RESP, family RESP and TFSA, plus cash, margin, corporate, partnership, sole proprietorship, trust and estate accounts. The FHSA appears in its site navigation but not on the account list we checked. Tax-loss harvesting is not mentioned. Compare it with every ranked service on our best robo-advisors in Canada page or read our Wealthsimple Managed Investing review.
6. Questrade Platforms, Research and Education
Trading platforms. Questrade Pro, its active trading platform, is the one platform named on the trading-platforms page we checked. Other app names, including a mobile app, were not named on the pages we checked, so our platform factor gives half a point for mobile and Questrade scores 4.5 of 5. We do not describe screens or features we could not confirm from Questrade’s own pages.
Fractional shares. Questrade lets you buy fractions of eligible Canadian and US stocks and ETFs in real time with $0 commission. The minimum order size is not stated. Fractional buying helps when one share of a fund costs more than you want to invest that month, and it lets each monthly contribution go fully to work.
Dividend reinvestment. Questrade’s DRIP covers almost every stock or ETF, with no transaction fees. When fractional shares are switched on, dividends reinvest into fractions, so a small dividend is not left sitting as cash. That matters at Questrade, where uninvested cash earns effectively nothing.
Research and data. Market data packages, research reports and screeners were not part of the figures we checked, and our score does not weigh research tools. If live quotes or analyst research matter to you, please ask Questrade what is included with your account before you fund it, and whether any data costs extra.
Learning material. Questrade publishes how-to material, including a tutorial on setting up DRIP and an options FAQ, which we used to confirm its rules. For a plain-language start, our guide to how to invest in Canada covers account choice, asset mix and costs step by step, and our investing for beginners hub links every learning guide.
7. Questrade Options, Margin and Advanced Trading
Options pricing. US equity options cost $0 base and $0 per contract at Questrade, as of October 22, 2026. Canadian options cost $0 base plus CA$0.99 per contract. US index options cost $0 base plus US$0.99 per contract from September 28, 2026; volume tiers applied before that date. Exercising an option costs $24.95, assignment is $0, and a $45 service fee applies if Questrade has to close an option on expiry day.
| Item | Base fee | Per contract |
|---|---|---|
| US equity options | $0 | $0 (Questrade Plus: CA$0.05 cashback) |
| Canadian options | $0 | CA$0.99 |
| US index options, from September 28, 2026 | $0 | US$0.99 |
| Exercise | $24.95 | Not applicable |
| Assignment | $0 | Not applicable |
| Questrade closes an option on expiry day | $45 service fee | Not applicable |
How that ranks. Our options profile, four US equity options trades a month of two contracts each, costs $0.00 a year at Questrade. Its options score is 4.3 / 5, rank 3 of 13 on our best options trading platforms list, behind Interactive Brokers Canada and Wealthsimple.
Margin rates. Questrade’s margin pricing is its weakest point. Non-registered CAD borrowing costs CAD prime + 4.25% under $100,000 and prime + 3.25% at $100,000 or more. US-dollar borrowing costs USD prime + 4.50% and + 3.50%. A debit balance in a registered account costs far more. With Questrade’s CAD prime of 4.45% (as of October 30, 2025) and USD prime of 7.00% (as of September 17, 2026), the rates work out as below.
| Balance | Formula | Rate |
|---|---|---|
| Non-registered CAD, under $100,000 | CAD prime + 4.25% | 8.70% |
| Non-registered CAD, $100,000 or more | CAD prime + 3.25% | 7.70% |
| Non-registered USD, under $100,000 | USD prime + 4.50% | 11.50% |
| Non-registered USD, $100,000 or more | USD prime + 3.50% | 10.50% |
| Registered account debit balance, CAD | CAD prime + 8.10% | 12.55% |
| Registered account debit balance, USD | USD prime + 8.35% | 15.35% |
What that costs. Borrowing $10,000 for a full year at 8.70% costs $870.00 in simple interest. The same loan costs $367.50 at Interactive Brokers Canada’s 3.675% and $495.00 at Wealthsimple Core’s 4.95%. Questrade ranks 10 of 10 on our lowest margin rates list. If you borrow often, the margin rate can outweigh every commission saving on this page.
8. Questrade Cash Interest
The formula. Questrade publishes interest on uninvested cash as a formula: CAD prime minus 8.50% and USD prime minus 10.00%. With its CAD prime of 4.45%, the CAD result is minus 4.05%. With its USD prime of 7.00%, the USD result is minus 3.00%. Questrade’s page states that a negative result means 0% interest, so cash in a Questrade account earns effectively 0% as of October 22, 2026.
What that means in dollars. $10,000 left uninvested for a year earns $0.00 at Questrade. The prime rate would have to rise above 8.50% before Canadian-dollar cash earned anything at all. For comparison, Interactive Brokers Canada pays 1.675% on Canadian-dollar balances above CAD 13,000, with its full rates needing a net asset value above USD 100,000.
Why it matters in a TFSA. TFSA room is limited, and the 2026 dollar limit is $7,000. Cash that earns nothing inside a TFSA wastes tax-free growth. If you are waiting to invest, keep the money in a high-interest savings account outside the broker until you are ready.
Effect on the score. Our cash and margin factor gives up to 2.5 points for cash interest of 1% or more and 1 point for any positive rate. Questrade gets 0 of 2.5 for cash and 0.5 of 2.5 for its margin rate, which is why it scores 0.5 of 5 on this factor. The factor carries 10% of the overall score.
The practical fix. Turn on DRIP so dividends reinvest, set up regular purchases so contributions do not sit, and move larger sums you will not invest soon to a savings product. Our savings hub compares savings accounts and GICs.
Trade options or borrow on margin? Compare the brokers that charge least for both.
9. Is Questrade Safe? Safety and Regulation
CIPF membership. Questrade, Inc. is on the Canadian Investor Protection Fund’s current member list. CIPF protects client property, meaning cash and securities, that is missing when a member firm becomes insolvent. CIRO membership is not stated on the pages we checked. Every CIPF member firm is a CIRO member, so CIRO membership follows from the CIPF listing, but our rubric gives 4.0 only when a broker states both, which is why Questrade scores 3.5 of 5 on safety.
How much CIPF covers. Coverage is set by account group, not by account. All your general accounts at one member firm share one limit, your retirement accounts share a separate limit, and RESPs where you are the subscriber have a third.
| Account group | Accounts included | CIPF limit |
|---|---|---|
| General accounts | Cash, margin, TFSA, FHSA, combined | $1,000,000 |
| Retirement accounts | RRSP, RRIF, LIF, combined | $1,000,000 |
| RESPs | RESPs where you are the subscriber, combined | $1,000,000 |
What CIPF does not cover. CIPF does not cover a fall in the value of your investments, unsuitable advice, the failure of a company whose shares you own, or crypto assets. If an ETF you hold drops 20%, that is market risk, and no protection fund pays it back.
Ownership. Our safety factor adds a point when a broker is owned by a bank or a financial cooperative group. Questrade is not, so it does not get that point; neither do Wealthsimple, Interactive Brokers Canada, moomoo, Webull or Qtrade. Our guide to CIPF vs CDIC explains how investment protection and deposit insurance differ, and our page on CIPF and CDIC coverage at Wealthsimple shows how the rules apply at one rival.
10. Opening a Questrade Account and Transfers
Opening. Like any Canadian broker, Questrade needs your photo ID and social insurance number, because investment income is reported to the CRA. The minimum amount needed to open or start investing was not stated on the pages we checked. There is no fee to keep an account open and no inactivity fee, so a small starting balance costs nothing to hold.
Transfers in. When you move an account from another institution, Questrade rebates the transfer-out fee charged by that institution, up to $150 per account, and applies it automatically to eligible transfers. Ask for a direct transfer: a TFSA moved directly between institutions does not affect your contribution room, but withdrawing and re-depositing it yourself counts as a new contribution and can lead to an over-contribution. Our guide on how to transfer an investment account walks through the forms.
Transfers out. Moving a full or partial account out of Questrade costs $150. Some receiving brokers rebate that fee; Wealthsimple, for example, reimburses the other institution’s fee, up to $150 per account, on transfers of $25,000 or more.
Use the transfer fee calculator below to see what each broker charges to move an account out and which brokers cover that fee when you move in.
Referral reward. Questrade lists a referral reward of $50 per friend.
11. Questrade Customer Support
What this review covers. Support hours and contact channels are not part of the figures we checked for this review, so we do not list them. We print only support details we can confirm in our research, and we will add them when we do.
Have these ready when you call. Before you contact Questrade about a transfer, a US dollar balance or a tax slip, have your account number, the name of the institution you are moving from, the account type (TFSA, RRSP, FHSA and so on), and a recent statement from the old account. For a transfer rebate, keep the statement or confirmation that shows the fee the other institution charged.
Check your W-8BEN status. If you hold US shares, confirm that a Form W-8BEN is on file for your non-registered and TFSA accounts. Without it, US dividends can be withheld at 30% instead of the 15% treaty rate. For an RRSP or RRIF, ask how the account is documented so US dividends are paid without US withholding.
Keep a record. Write down the date, the name of the person you spoke with and what was agreed, and save any chat or email. If a transfer stalls or a rebate does not arrive, a dated record makes the follow-up much faster.
12. Questrade Pros and Cons
Pros
- $0 commission on Canadian and US stocks and ETFs
- US dollars held in registered accounts at no extra cost
- All 10 account types we count, including family RESP, LIRA and LIF
- $0 per contract on US equity options
- Fractional shares and a $0 DRIP that reinvests into fractions
- No annual account fee and no inactivity fee
- Rebates the other firm’s transfer fee, up to $150 per account
- Questwealth Portfolios at 0.37% all-in on $50,000
- Full 5.0 US investing sub-score, tied for the highest of the 13 brokers we score
Cons
- Effectively 0% interest on uninvested cash
- 8.70% CAD margin rate under $100,000, the highest of the 10 brokers that publish one
- $150 to transfer an account out
- $24.95 to exercise an option
- Minimum to open not stated on the pages we checked
- CIRO membership not stated on the pages we checked
The balance. For a buy-and-hold investor, the pros outweigh the cons clearly: trading costs nothing and there is no annual account fee. For a margin borrower, the cons dominate, and Interactive Brokers Canada, at 3.675% under CAD 130,000, is likely to cost less.
What would raise the score. Under our published rubric, interest of 1% or more on cash would add 2.5 points to the cash and margin factor. A margin rate at or below 6.5% would add at least half a point more. Either change would lift Questrade’s overall score.
13. Questrade Compared With Rivals
The three rivals. We compare Questrade with Wealthsimple, the other $0-commission broker with every account type; Interactive Brokers Canada, which scores 4.2 / 5 and has the lowest CAD margin rate of the 10 brokers that publish one; and Qtrade, another independent full-range broker. Fees are as of October 22, 2026 and scores as of October 23, 2026.
| Feature | Questrade | Wealthsimple | Interactive Brokers Canada | Qtrade |
|---|---|---|---|---|
| Overall score (rank of 13) | 4.3 / 5 (1) | 4.2 / 5 (4) | 4.2 / 5 (3) | 4.0 / 5 (6) |
| Canadian stocks and ETFs | $0 | $0 | CAD 0.01 a share, minimum CAD 1 | $0 |
| US stocks and ETFs | $0 | $0 | USD 0.005 a share, minimum USD 1 | $0 |
| USD in registered accounts | Yes, no extra cost | $10 a month on Core; included on Premium and Generation | Not stated | US$15 a quarter per account; free with Investor Plus |
| FHSA | Yes | Yes | Yes | Yes |
| RESP | Yes, including family | Yes, including family | Not described | Yes, including family |
| LIRA and LIF | Yes | Yes | Not described | Yes |
| Fractional shares | Yes | Yes, from $1 | Yes | Not mentioned |
| US equity options per contract | $0 | $0 | US$0.65, minimum US$1 | $0.75 |
| CAD margin rate under $100,000 | 8.70% | 4.95% (Core) | 3.675% (up to CAD 130,000) | 6.00% |
| Interest on uninvested cash | Effectively 0% | Not stated for trading accounts | 1.675% above CAD 13,000 | 0% (0.10% above $2,000,000) |
| Transfer-out fee | $150 | $0 | Not published for Canadian transfers | $150 |
| Transfer-in rebate | Up to $150 per account | Other firm’s fee, up to $150 per account, on $25,000 or more | Not published | Up to $150 per client on $15,000 or more (Fall Offer 2026, for accounts opened by January 5, 2027) |
| CIPF member | Yes | Yes | Yes | Yes |
Costs for the four profiles. Using the same four investor profiles as section 2, here is what each broker costs a year in commissions plus account fees. None of the four charges an annual account fee.
| Profile | Questrade | Wealthsimple | Interactive Brokers Canada | Qtrade |
|---|---|---|---|---|
| Buy-and-hold | $0.00 | $0.00 | $12.00 (12 x $1.00) | $0.00 |
| Active | $0.00 | $0.00 | $36.00 (36 x $1.00) | $0.00 |
| US-focused | $0.00 | $0.00 | $12.00 (12 x $1.00) | $0.00 |
| Options | $0.00 | $0.00 | $62.40 (48 x $1.30) | $72.00 (96 x $0.75) |
Reading the table. Questrade, Wealthsimple and Qtrade all cost $0.00 for the three stock profiles, because none charges a stock or ETF commission or an annual account fee. Interactive Brokers Canada costs $12.00 for buy-and-hold and $36.00 for the active profile, because each 40-share order pays its $1.00 minimum. Options split them: $0.00 at Questrade and Wealthsimple, $62.40 at Interactive Brokers Canada and $72.00 at Qtrade. Questrade pulls ahead of Wealthsimple Core for anyone who wants US dollars in a TFSA or RRSP, because Wealthsimple Core charges $10 a month for a USD account, and ahead of Qtrade, which charges US$15 a quarter per registered account without Investor Plus. Read our head-to-head pages, Wealthsimple vs Questrade and Questrade vs Interactive Brokers, or our Qtrade review and Wealthsimple Trade review.
14. Who Questrade Suits and Who Should Look Elsewhere
Long-term investors in registered accounts. If you buy ETFs or stocks a few times a month and hold them for years, Questrade’s $0 commissions and $0 account fees mean your costs can be close to nothing. Its buy-and-hold profile costs $0.00 a year.
Investors who hold US shares in an RRSP. Questrade scores 4.6 / 5 and ranks second of 13 on our best brokers for US stocks list and on our best TFSA for US stocks list, level with Desjardins Online Brokerage (Disnat), which is listed first on name order. Holding US dollars in an RRSP at no extra cost, where US dividends are exempt from US withholding, is a combination it handles well.
Families and people with pension money. A family RESP, a LIRA from a former employer, a spousal RRSP and a RRIF can all sit at one firm. moomoo and Webull, by contrast, do not list an RESP, a LIRA or a RRIF.
People who want a robo-advisor and a DIY account together. Questwealth Portfolios lets you put one account on autopilot at 0.37% all-in on $50,000 while you manage another yourself.
Who should look elsewhere. Margin borrowers will pay 8.70% here against 3.675% at Interactive Brokers Canada. People who keep large cash balances in their brokerage account earn nothing here. And anyone who expects to switch brokers soon should note the $150 transfer-out fee, which Wealthsimple does not charge. Our best commission-free brokers and best brokers for beginners lists rank the alternatives.
What You Need and What You Get With Questrade
What you need to open a Questrade account
- Government-issued photo ID
- Your social insurance number, because investment income is reported to the CRA
- Your TFSA, RRSP or FHSA room, from your latest notice of assessment
- A Canadian bank account to fund the account
- For a transfer: a recent statement from the account you are moving
- For US shares: a completed Form W-8BEN
What you get from Questrade
- $0 commission on Canadian and US stocks and ETFs
- US dollars in registered accounts at no extra cost
- TFSA, FHSA, RRSP, spousal RRSP, RRIF, LIF, LIRA, RESP and family RESP
- Fractional shares and a $0 DRIP
- $0 per contract on US equity options
- No annual or inactivity fee
- Transfer fee rebates of up to $150 per account
- Questwealth Portfolios from 0.20% a year at $100,000
- CIPF protection up to $1,000,000 per account group
How to Open and Fund a Questrade Account
- Pick the account type. Decide between a TFSA, RRSP, FHSA or non-registered account using your goal and your room. Our investment accounts hub compares them.
- Apply and verify your identity. Have your photo ID and social insurance number ready.
- Choose how to fund it. Deposit from your bank or request a direct transfer from your current broker. A direct transfer keeps TFSA room intact.
- Claim the transfer rebate. Keep the statement showing the fee your old broker charged; Questrade rebates up to $150 per account on eligible transfers.
- File Form W-8BEN. If you will hold US shares, complete the form so US dividends in a TFSA or non-registered account are withheld at 15% rather than 30%.
- Turn on DRIP and fractional shares. Dividends then reinvest into fractions instead of sitting as cash that earns nothing.
- Review once a year. Check your contribution room, your account fees and whether any new offer or rate change affects you.
10 Strategies to Keep Questrade Costs Low
1. Buy fractions instead of waiting for a full share
Questrade charges $0 commission on fractional trades in eligible Canadian and US stocks and ETFs. If one unit of a fund costs more than your monthly contribution, buying a fraction puts the whole amount to work at once instead of leaving cash that earns effectively 0% while you save for a full share.
2. Hold US dividend payers in an RRSP
US dividends paid into an RRSP or RRIF are exempt from US withholding once the account is documented. In a TFSA, 15% is withheld and cannot be recovered. Placing US dividend payers in an RRSP and Canadian holdings in a TFSA can save that 15%.
3. Avoid direct-routing US orders
ECN fees apply only to US orders you route to a specific venue, at rates such as US$0.003 a share. On a 500-share order that is $1.50 or more. Standard routing keeps US trades at $0 commission.
4. Let the transfer rebate cover your exit fee
When you move to Questrade, it rebates the other institution’s fee up to $150 per account. Moving three accounts that each carry a $150 fee can save $450. Keep the fee statement until the rebate posts.
5. Ask for a direct TFSA transfer
When you move a TFSA to Questrade, ask for a direct transfer between institutions. A direct transfer does not affect your contribution room. Withdrawing the money and depositing it yourself counts as a new contribution, and any amount over your room is taxed at 1% a month.
6. Do not let cash sit
Questrade’s cash interest is effectively 0%. Turn on DRIP, invest contributions soon after they land, and keep savings you will not invest for months in a savings account that pays interest.
7. Borrow briefly or not at all
At 8.70%, a $10,000 margin loan costs $870 a year. If you must borrow, keep it short, and know that the rate drops to 7.70% at $100,000. Never let a registered account go into debit at 12.55%.
8. Skip Questrade Plus unless you trade heavy options volume
Questrade Plus costs $19.99 a month. Its CA$0.05 per contract cashback on US equity options only covers that at 400 contracts a month. Below that volume the subscription costs more than it returns: at 100 contracts a month the cashback is (100 x CA$0.05 = CA$5.00) against the $19.99 fee.
9. Close options before expiry
Exercise costs $24.95, and a $45 fee applies if Questrade has to close an option on expiry day. Managing positions before the last day avoids both charges.
10. Compare Questwealth with your own costs
Questwealth costs 0.37% a year all-in on $50,000, or $185. A self-directed account with $0 commissions costs less in fees but needs your time. Pick the route that matches how hands-on you want to be.
Illustrative Example: One Investor’s First Year at Questrade
This example is hypothetical. Daniel, 38, moves a $45,000 RRSP and a $30,000 TFSA from a bank brokerage that charges $150 to transfer each account out. He requests both transfers in October 2026.
- Fees charged by his old broker: (2 x $150 = $300). Questrade rebates up to $150 per account: ($150 + $150 = $300). Net transfer cost: ($300 – $300 = $0).
- In the RRSP he buys US stocks and ETFs once a month and holds the US dollars in the account: (12 x $0 commissions = $0), with no USD account fee ($0).
- His US holdings pay US$600 of dividends in the year. In the RRSP no US tax is withheld: (US$600 x 0% = US$0). In a TFSA the same dividends would lose (US$600 x 15% = US$90).
- In the TFSA he buys one Canadian ETF a month: (12 x $0 = $0).
- Year-one cost at Questrade: ($0 net transfer cost + $0 RRSP commissions + $0 TFSA commissions + $0 account fees = $0).
- Year two, with the same 24 trades: (24 x $0 commissions + $0 account fees = $0).
For comparison, at Interactive Brokers Canada each of his 12 Canadian ETF purchases of 40 shares pays the CAD 1.00 minimum (40 x CAD 0.01 = CAD 0.40, below the minimum), so they cost (12 x CAD 1.00 = CAD 12.00) a year. If each of his 12 US purchases is also 40 shares, each pays the USD 1.00 minimum (40 x USD 0.005 = USD 0.20, below the minimum), adding (12 x USD 1.00 = USD 12.00). Run your own pattern through the broker cost calculator above.
Questrade Review FAQ
Is Questrade a good broker?
Questrade scores 4.3 / 5 overall, rank 1 of the 13 online brokers we score as of October 23, 2026. It charges $0 commission on stocks and ETFs, offers all 10 account types we count and lets you hold US dollars in registered accounts at no extra cost. Its weak spots are effectively 0% cash interest, an 8.70% margin rate and a $150 transfer-out fee.
What are Questrade’s fees?
Questrade charges $0 commission on Canadian and US stocks and ETFs, $0 on US equity options and $0 for DRIP. There is no annual or inactivity fee, and no separate fee to hold US dollars in a registered account. Transferring an account out costs $150, exercising an option costs $24.95, and ECN fees apply only to US orders you route directly. Figures are as of October 22, 2026.
Does Questrade charge commission on US stocks?
No. Questrade charges $0 commission to buy or sell US stocks and ETFs online, as of October 22, 2026. ECN fees apply only to US orders you route directly to a venue, overnight-session fills cost US$0.003 a share, and US sales carry the SEC fee of 0.0000206 times the trade value, or US$0.21 on a US$10,000 sale.
Can I hold US dollars in a Questrade TFSA or RRSP?
Yes. Questrade accounts, including registered accounts, can hold US dollars directly at no extra cost, and no separate USD account fee is listed. Remember that US dividends in a TFSA still lose 15% to US withholding with a Form W-8BEN on file, while an RRSP or RRIF is exempt once documented.
Is Questrade safe?
Questrade, Inc. is on the Canadian Investor Protection Fund’s current member list. CIPF covers missing client property if a member firm becomes insolvent, up to $1,000,000 for general accounts combined, a separate $1,000,000 for retirement accounts and another for RESPs. It does not cover market losses. CIRO membership is not stated on the pages we checked.
Does Questrade pay interest on cash?
Effectively no. Questrade’s published formula is CAD prime minus 8.50% and USD prime minus 10.00%. With its CAD prime at 4.45% and USD prime at 7.00%, both results are negative, and Questrade states that a negative result means 0% interest. $10,000 of idle cash earns $0.00 in a year as of October 22, 2026.
What is Questrade’s margin rate?
Questrade charges CAD prime plus 4.25% on non-registered Canadian-dollar margin under $100,000, which is 8.70% with its 4.45% prime, and prime plus 3.25%, or 7.70%, at $100,000 or more. US-dollar margin costs 11.50% and 10.50%. That is the highest CAD rate of the 10 brokers that publish one.
How much does it cost to transfer out of Questrade?
Questrade charges $150 for a full or partial transfer to another institution. Some receiving brokers rebate this fee: Wealthsimple reimburses the other firm’s fee, up to $150 per account, on transfers of $25,000 or more. Going the other way, Questrade rebates up to $150 per account of the fee your old broker charges you.
How much does Questwealth Portfolios cost?
Questwealth charges 0.25% a year on balances of $250 to $99,999 and 0.20% from $100,000, plus fund costs of up to 0.12% for standard portfolios and up to 0.24% for SRI portfolios. On $50,000 in a standard portfolio that is $185.00 a year, or 0.37%. It scores 4.1 / 5, rank 2 of 4 robo-advisors.
Does Questrade offer an FHSA and an RESP?
Yes. Questrade offers the FHSA, individual and family RESPs, the TFSA, RRSP, spousal RRSP, RRIF, LIRA, LIF and locked-in RRSP, plus cash, margin, joint, corporate, trust and estate accounts. It ranks first of nine brokers on our RESP list and first of 11 on our FHSA list, by overall score.
Is Questrade or Wealthsimple better?
Questrade scores 4.3 / 5 and Wealthsimple 4.2 / 5, or 4.325 against 4.225 before rounding. Questrade lets you hold US dollars in registered accounts at no cost and scores higher on our platform factor, while Wealthsimple charges $0 to transfer out and charges a lower margin rate. Our Wealthsimple vs Questrade comparison covers every difference.
See where Questrade sits among every broker we score, ranked by the same published rubric.
Figures on this page were checked against each provider’s published pricing on October 22, 2026. We update this page when a figure changes.
Meet the Experts Behind WealthScale
Sharad is a CPA Ontario member (No. 61040184) and a Certified Public Accountant licensed in Washington and Montana, with more than 15 years in accounting and tax, a Diploma in Banking and Finance and a Certificate in Small Business Finance. He checks WealthScale content against primary sources. WealthScale is independent of his firm, Gondaliya CPA Professional Corporation, and provides general information only, not personal financial, investment, tax or legal advice.
- Chartered Professional Accountant, CPA Ontario
- Certified Public Accountant, Washington (No. 57629) and Montana (No. PAC-CPAP-LIC-033176)
- Writing on tax and registered accounts since 2021
- Reader’s Choice Award 2025 Winner, Best Accountant (Toronto)
Neha Gupta is a CFA charterholder based in Winnipeg who has worked in financial markets since December 2005. She has published more than 2,600 investment articles and is Head of Operations and Finance at Whiteland Real Estate. She reviews WealthScale’s investing pages for accuracy.
- CFA charter, CFA Institute (awarded 2023)
- Post Graduate Diploma in Business Administration (Finance), 2008
- In financial markets since December 2005
- More than 2,600 published investment articles
General information only. Not financial, investment, tax or legal advice. WealthScale is independent and is published by WealthScale Media Inc., 55 Queen St E, Suite 1205, Toronto, ON M5C 1R6. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.