Overview
Questrade Inc. is a Canadian online discount brokerage founded in 1999, headquartered in Toronto, and regulated by the Canadian Investment Regulatory Organization (CIRO), formerly the Investment Industry Regulatory Organization of Canada (IIROC), and provincial securities regulators including the Ontario Securities Commission (OSC). As of 2026, Questrade serves over one million Canadians, offering self-directed trading in Canadian and US equities, ETFs, options, mutual funds, bonds, and GICs, alongside managed portfolio services through Questrade Wealth Management. The firm's business model emphasises low-cost equity and ETF trading with commission-free purchases of Canadian and US-listed ETFs, competitive per-share pricing for stocks, and comprehensive registered account support including RRSPs, TFSAs, RESPs, RRIFs, and LIRAs. Questrade positions itself as a leading Canadian discount broker for do-it-yourself investors seeking cost-efficient access to North American markets and registered account wrappers. The platform competes primarily with Wealthsimple Trade, TD Direct Investing, and Interactive Brokers Canada within the Canadian retail brokerage sector.
Platforms & tools
Questrade offers multiple trading platforms: Questrade Trading (web and mobile), IQ Edge (desktop), and IQ Mobile (iOS and Android). Questrade Trading provides a streamlined browser-based interface with real-time quotes, basic charting, order entry, and portfolio tracking, suitable for buy-and-hold investors and ETF purchasers. IQ Edge is a downloadable desktop platform featuring advanced charting with 80+ technical indicators, customisable layouts, streaming Level II quotes, options chains, screeners, and direct market routing. Order types include market, limit, stop, stop-limit, trailing stop, and iceberg orders. IQ Mobile mirrors core functionality with touch-optimised interfaces, biometric login, and on-the-go portfolio monitoring. No MetaTrader or third-party platform integrations are offered. Research tools include Morningstar research for mutual funds and ETFs, Canadian and US company fundamentals, analyst ratings, earnings calendars, and news feeds. No proprietary analyst reports or institutional research subscriptions are provided. The platform suite is functional for Canadian equity and ETF investors, though charting sophistication lags specialist platforms like Trader Workstation. API access is not available. Educational content includes articles, webinars, and video tutorials covering investing basics, registered accounts, and platform usage.
Costs & fees
Questrade charges no commission on purchases of Canadian and US-listed ETFs, a significant competitive advantage for passive investors and index fund purchasers; selling ETFs incurs standard equity commissions. Stock trades cost CAD 4.95 to CAD 9.95 per trade depending on the number of shares (1 cent per share, CAD 4.95 minimum, CAD 9.95 maximum). Options cost CAD 9.95 + CAD 1 per contract. US equity trades follow the same structure in USD. Mutual fund purchases via Questrade do not incur transaction fees, though fund management expense ratios (MER) apply as set by fund issuers. No platform fees, account minimums, or inactivity fees are charged. Currency conversion for CAD/USD trades uses the prevailing interbank rate plus a spread of approximately 1.5–2%, a common industry practice though higher than specialist forex brokers. Margin interest rates are tiered, ranging from approximately 6.2–7.7% for CAD balances depending on loan size. Withdrawals via EFT (electronic funds transfer) are free; cheques cost CAD 25. Account transfer fees vary: RRSP/TFSA transfers out incur CAD 150, RESP CAD 100. Questrade periodically offers promotions covering transfer-out fees for new clients switching from competitors.
Safety & regulation
Questrade Inc. is regulated by the Canadian Investment Regulatory Organization (CIRO, formerly IIROC), the Ontario Securities Commission (OSC), and provincial securities regulators across Canada. As a CIRO member, Questrade is subject to capital adequacy requirements, client asset segregation, and regular regulatory audits. Client securities are held in segregated accounts and are protected by the Canadian Investor Protection Fund (CIPF), which covers up to CAD 1 million per account (including cash and securities combined) in the event of member firm insolvency. Cash balances are not insured by the Canada Deposit Insurance Corporation (CDIC) but are protected under CIPF limits. Questrade does not offer leveraged CFD products or negative balance scenarios, as trading is limited to cash and margin accounts on traditional securities. No significant enforcement actions, corporate incidents, or regulatory sanctions have been publicly disclosed as of 2026. The firm's regulatory status, CIPF coverage, and capital position align with Canadian discount brokerage standards. However, community sentiment on aggregate platforms is notably negative: Trustpilot shows a "Bad" rating of 1.4 out of 5 stars (based on 323 reviews, 84% one-star) as of 2026, with recurring complaints about account transfer delays, customer service responsiveness, unauthorised withdrawals, and difficulty resolving errors.
Accounts & funding
Account opening is conducted online and typically completed within one to two business days, subject to identity verification. Applicants provide Canadian government-issued identification (driver's licence or passport), Social Insurance Number (SIN), proof of address, and employment details. No minimum deposit is required to open an account, though margin accounts and certain features require minimum equity thresholds. Funding methods include Electronic Funds Transfer (EFT) from Canadian bank accounts (free, 3–5 business days), bill payment via online banking (free, 1–3 business days), wire transfer (incoming CAD 25, outgoing CAD 50), and cheque (no fee, slower processing). US dollar deposits are supported via USD bank accounts or bill payment. Withdrawals via EFT are free and processed within 3–5 business days; cheques cost CAD 25. Account base currencies include CAD and USD, with separate USD accounts available for US securities trading without forced conversion. Currency conversion for CAD/USD transactions incurs a spread of approximately 1.5–2%. Registered account types (RRSP, TFSA, RESP, RRIF, LIRA) and margin accounts are supported. Account transfers from other brokers are supported, typically taking four to six weeks; Questrade offers promotional transfer fee reimbursement for new clients.
Service & reputation
Customer support is accessible via phone Monday to Friday, 8:00 AM to 8:00 PM ET (reduced weekend hours), online chat, and email. Support is provided in English and French. Educational resources include articles, webinars, video tutorials, and guides covering registered accounts, tax-efficient investing, and platform usage. The Questrade Learning Centre provides beginner-friendly content on Canadian investing topics such as RRSPs, TFSAs, and dividend investing. Community reputation on aggregate platforms is notably poor: Trustpilot shows a 1.4 out of 5 star "Bad" rating with 84% one-star reviews as of 2026, reflecting widespread dissatisfaction with customer service responsiveness, account transfer processing delays (often spanning months), difficulty reaching managers, and unresolved account errors including unauthorised withdrawals. Users describe slow email responses, unhelpful phone support, and long hold times, particularly during busy periods. The Questrade mobile app fares better, with 4.7–4.8 stars on app stores, suggesting platform functionality exceeds service quality. Recent customer feedback (2023–2026) consistently cites deteriorating service standards, with multi-day or multi-week delays for simple requests. The negative sentiment represents a significant reputational risk for prospective clients.
Research verdict
Questrade suits cost-conscious Canadian investors seeking commission-free ETF purchases, low per-trade stock commissions, and comprehensive registered account support (RRSP, TFSA, RESP) for buy-and-hold strategies. The platform's pricing structure and no account minimums appeal to passive investors and those building diversified portfolios with ETFs. It is less suitable for active traders requiring advanced charting or international markets, and especially inappropriate for those prioritising responsive customer service or timely account administration. The overwhelmingly negative Trustpilot reviews, recurring complaints about transfer delays, unauthorised withdrawals, and poor support responsiveness represent serious concerns that prospective clients must weigh carefully. Regulatory oversight and CIPF protection align with Canadian standards, though service quality appears significantly below peer brokers such as Wealthsimple or Interactive Brokers Canada. For investors willing to accept documented service risks in exchange for low ETF and stock costs, Questrade remains viable, but the reputational evidence as of 2026 warrants extreme caution.
Best forCanadian ETF buy-and-hold investorsRRSP and TFSA consolidatorsCost-conscious passive allocators
