Overview
Questrade is one of Canada’s most well-known independent brokerages, offering a flexible and cost-effective platform for self-directed investors. With lower fees than big bank brokerages, access to registered accounts, and a strong focus on investor education, Questrade is a standout choice for Canadians seeking to build wealth with control over their portfolio.
Pros
Research tools powered by TipRanks
Lower trading fees compared to traditional Canadian brokers
Access to stocks, ETFs, mutual funds, options, and forex
RRSPs, TFSAs, RESPs, and other registered accounts supported
Cons
$4.95–$9.95 per equity trade (not commission-free)
Platform can feel dated compared to new mobile-first apps
Limited access to fractional shares and crypto trading
MooMoo Ratings
4/5
Trading Opportunities at Questrade
Questrade offers a solid lineup of assets, including Canadian and U.S. stocks, ETFs, options, mutual funds, and forex. It’s especially strong in retirement and tax-advantaged account support, which makes it appealing for long-term investors. However, it lacks access to newer asset classes like crypto and fractional shares.
Customer Service
Questrade provides good customer support via phone, email, and chat, though wait times can be long during peak market hours. The company also offers extensive self-help content and educational webinars.
Pricing and Fees
While not commission-free, Questrade’s pricing model is competitive in Canada. Stock trades cost between $4.95 and $9.95, while ETF purchases are free to buy (though selling incurs fees). Forex and options trading have transparent fee structures.
Mobile App
The mobile app covers essential features and allows trading, research, and account management on the go. However, the design and usability trail behind newer platforms like Wealthsimple Trade or MooMoo.
User Experience & Perks
Questrade offers a solid desktop platform (IQ Edge) and web interface. It’s customizable and rich in features but may feel less intuitive to new investors. Perks like free ETF buying, dual-currency accounts, and registered account options add long-term value.
Final Verdict
Questrade is an excellent choice for Canadian investors who want control, cost savings, and access to tax-sheltered accounts. Though not as sleek as newer trading apps, it provides reliability and depth for long-term investors.
Advertiser Disclosure
TipRanks may receive compensation from the brokers reviewed above in the form of affiliate links. This means that when users open accounts through the links provided on this site, TipRanks may earn a commission. We always aim to offer accurate, unbiased information to help users make informed decisions. Please note that past performance is not indicative of future results, and all investments carry inherent risks. Ensure you do your own research and consult with a financial advisor before making investment decisions.
