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Qtrade vs. Questrade? As two of the best discount brokerages in Canada, the Qtrade vs Questrade debate has had DIY investors arguing for years. To help you choose, we're breaking down each brokerage, so you can find the best fit for you. 

As two of the best discount brokerages in Canada, the Qtrade vs. Questrade debate has had DIY investors arguing for years.

To help you choose, we’re breaking down each brokerage, so you can find the best fit for you. Before diving in, I should point that both platforms are excellent options and share many common traits, such as being CIPF-insured, as well as offering substantial virtual help libraries, slick practice accounts to get your feet wet, USD-registered accounts, and a very user-friendly trading platform.

Easy Qtrade vs. Questrade Comparison

Questrade Advantages:

  • No Fees on ETF Purchases
  • Low trading fees
  • No annual fees
  • Excellent customer service
  • Reimburse transfer fees up to $150 for any account size
  • Get $50 in free trades when you start investing with Questrade

Qtrade Advantages:

  • Elite Customer Service
  • Good for mutual fund purchases
  • Excellent research tools
  • Reimburse transfer fees up to $150 for account balances of $15,000 or more

Verdict: While Qtrade is a worthy competitor and a great option for mutual fund investors, Questrade takes our #1 spot based on their no-fee ETF purchases and low trading fees.

Overview of Questrade vs. Qtrade 


Questrade is a self-directed investment platform that allows you to build your own portfolio at a low cost. According to their website, Questrade is “the digital, low-cost alternative that gives Canadian investors a better choice in an industry that’s historically been stacked against you.”

They’ve earned the title of Canada’s fastest growing online brokerage, partly thanks to their bare-bones fee structure and excellent trading platform. Questrade has more than 50,000 new accounts opened every year, $9 billion in assets under management, and they’ve won an award for one of Canada’s Best Managed Companies seven times.

Questrade focuses on financial empowerment – meaning they’ll give you the tools and resources to be successful in making your own independent financial decisions. With their rock bottom low fees and easy-to-use DIY trading platform, Questrade is consistently our top pick for the best online brokerage in Canada.

Read our Questrade review for the full details on why it’s the best trading platform.

Get $50 in free trades when you start investing with Questrade!

Qtrade Investor

Qtrade Investor is an online brokerage that strives to give you control over your financial goals. They do this by focusing on features that most investors need, such as easy-to-navigate online and mobile platforms, powerful research tools, and fast and knowledgeable customer support.

They combine this with some of the lowest fees in the industry to give you one of the best online brokerages available. In fact, according to their website: “Value and commitment to continuous improvement are the reasons why Qtrade Investor has been ranked among Canada’s very best online brokers for the past decade.”

How Do Questrade and Qtrade work?


Questrade really wants to help you to do research and make your own financial decisions. That’s why they provide you with some of the best tools and resources to act on your financial goals. They focus on three fast, customizable platforms:

  1. Questrade Trading: Their standard web application, where you can trade stocks, manage your portfolio, and conduct research.
  2. Questrade app: Questrade has an intuitive mobile app that allows you to make trades and manage your portfolio on the go. That way, you never miss an opportunity to take advantage of a moving market.
  3. IQ Edge: This is software designed specifically for active traders who know what they’re doing. You have to download the software, but it’s incredibly powerful in allowing you to analyze, pick, buy, and sell stocks.

In terms of their online trading platform, some of Questrade’s best features include:

  • No annual fees: Some online brokerages charge a fee between $50-100 per year, especially for smaller accounts. For example, Qtrade charges $25.00 per quarter for accounts of less than $25,000. In contrast, Questrade charges no annual fees.
  • Lowest trading fees in the market: You can purchase ETFs for free! That means that you can transfer money into your Questrade account and build an ETF portfolio for $0. It does cost $0.01/share to sell your ETFs, with a minimum fee of $4.95 per trade to a maximum of $9.95, which you may need to do to rebalance your portfolio.
  • IPO Centre: Questrade has an IPO Centre where you can review the most recent IPOs, sign up the IPO Bulletin, and buy IPOs by filling out an online form. BTW, Questrade allows you to purchase Initial Public Offerings (IPOs) for FREE (no commissions) with a minimum purchase of $5,000.

As you can see, Questrade focuses on empowering you as the investor and gives you a bevy of tools do to that. If you’re even remotely serious about investing, you’ll know how valuable this is. I’ll share more about Questrade’s awesome features later.

Qtrade Investor

Qtrade Investor also focuses on you being empowered to make your own independent financial decisions. They give you the research and support you need to be successful, but you’re still in the driver’s seat when it comes to making decisions. Their platform is where you’ll make your trades, and it has features such as:

  • Multiple portfolio views
  • In-depth research and analysts’ reports
  • Stock/ETF/mutual fund screening tools
  • $8.75 and $6.95 stock trades and 100 free ETFs
  • Fast access to the markets
  • Use stop-loss, stop-limit, trailing-stop orders

Qtrade Investor focuses on six “phases” of investing to help accelerate your success:

  1. Plan: They’ll help you set achievable goals by using planning tools and a variety of calculators.
  2. Discover: If you’re wondering how to invest, you’ll quickly find investing ideas using their screening tools and independent stock research.
  3. Evaluate: After picking your investments, you can evaluate your strategy using both fundamental data and reports from industry-leading analyst reports.
  4. Trade: Once you know what you want, you can quickly execute buy/sell trade orders on the platform.
  5. Monitor: You can check the progress of your portfolio using real-time alerts, watchlists, and up-to-the-second data.
  6. Review: Using intelligent portfolio views, you can benchmark your own performance against that of industry standards.

Key Features


Aside from the platforms listed above, Questrade gives you six reasons why you should switch to their platform:

  1. Ultra low fees: Questrade prides itself on having some of the lowest fees in the business.
  2. You can invest on your own time: Their accounts are super easy to set up, and you get a free mobile app to invest whenever you want.
  3. It’s great for new investors: You can start small and test out the different features, or even get a pre-built portfolio through their robo advisor, Questwealth Portfolios.
  4. Tight security: They’re regulated like a bank and provide $10 million in additional private insurance.
  5. Easy to move investments: If you have an account somewhere else, Questrade can easily move it for you (and they’ll even reimburse transfer fees).
  6. Service agents on call: You can contact them if you need assistance, but Questrade also has a ton of resources already available in simple, plain language.

In addition to those core features, I want to call out the market data packages specifically. Questrade puts a massive focus on giving you tools to help you be a successful investor, rather than hiding them and making you pay a higher fee for “expertise.”

With four different market data packages, you can dive into research as deep as you’d like, which will allow you to become a more intelligent investor, making more informed decisions. For example, the Advanced package does cost $89.95 CAD per month, but you can get that fee completely waived if you spend over $399.95 on commissions that month.

Plus, the way it’s designed, it’s hard not to do that – you’ll get access to live streaming data so you can make active trades and cash in on market fluctuations like a pro. I seriously love this feature from Questrade. You will too if you’re a frequent investor.

Qtrade Investor

Qtrade Investor has some nice features, including:

  1. Low prices: Qtrade Investor charges $8.75 for stock trades for everyone, regardless of your account value or how much you trade. If you’re a more active trader, this drops this to $6.95.
  2. Stellar customer service: Qtrade Investor says that “prompt, knowledgeable service is part of the Qtrade experience,” and that “calls [are] answered in seconds, not minutes.” They also have a feature where you can leave them a note to call you back later if you don’t have time to talk then.
  3. Easy to use and access: Qtrade Investor has a very simple, yet intuitive platform for investing. When navigating it, it’s easy to get to where you need to go, and there’s quick-responding support if you require help.
  4. Research tools: Qtrade Investor delivers some pretty awesome research, both through their platform but also through their analyst reports that you’ll have access to. Since they’re empowering you to make financial decisions, they want you to have as much information as possible, so your decisions are sound.
  5. Investment accounts designed for you: Qtrade Investor features all the accounts you need to suit your situation: Cash, Margin, RRSP, RRIF, TFSA, and RESP.
  6. Multiple investment choices: You’ll have multiple options to choose from with your investments, including stocks, bonds, options, mutual funds, IPOs, ETFs, and GICs.

Fees and Pricing 

One of the biggest questions you might have is: how do Qtrade and Questrade compare in terms of costs? Let’s take a closer look.

Questrade Fees 

When it comes to costs, Questrade offers very competitive pricing and beats out the competition with their rock bottom fee structure.

  • Stocks: 1¢ / share (min. $4.95 to max. $9.95)
  • ETFs: Free to buy (Sell 1¢/share; min. $4.95 to max. $9.95)
  • Options: $9.95 (+ $1 / contract)
  • Mutual funds: $9.95 / trade
  • Bonds: Free with $5,000 purchase
  • GICs: Free with min. $5,000 purchase
  • International equities: 1% of the trade value (Min. $195.00 plus applicable exchange or stamp fees, charged in the currency of the account in which the trade is placed)
  • IPOs and new issues: Free to buy (Min. $5,000 purchase)
  • Product Precious metals: $19.95 USD / trade

Compared to other discount brokerages in Canada, Questrade wins out as the lowest cost option for DIY investors.

Qtrade Investor Fees

Qtrade Investor has two different pricing tiers: Investor and Investor Plus.


  • Equities: $8.75
  • Options: $8.75 + $1.25 per contract
  • ETFs: Free (from their select list; otherwise $8.75)
  • Mutual funds: Free
  • Fixed-income and Exchange-traded debentures: $1 per $1,000 face value

Investor Plus (if you make 150+ trades per quarter or have $500,000 in assets):

  • Equities: $6.95
  • Options: $6.95 + $1.25 per contract
  • ETFs: Free (from their select list; otherwise $6.95)
  • Mutual Funds: Free
  • Fixed-income and Exchange-traded debentures: $1 per $1,000 face value

Advantages of Questrade over Qtrade 

  1. No annual fees! Zero. Zilch.
  2. No fees on ETF purchases. This simple feature has saved me hundreds of dollars in commissions over the years.
  3. An excellent Questrade promo offer code of $50 in free trades when you sign up.
  4. A quick and easy paperless account set-up.
  5. $4.95 Baseline trading fees (vs. Qtrade Investor = $8.75)
  6. Award-winning customer service: Questrade received the 2019 DALBAR Seal for Service Excellence — a prestigious award that recognizes service leaders within the financial services industry.

Advantages of Qtrade over Questrade

  1. Excellent customer service that is raved about consistently in online forums.
  2. Slick initial updates when you log in to your account.
  3. No fees or commissions on buying mutual funds. I generally find mutual funds to be a terrible investment option, but if they are your preferred investing method, then this is obviously enticing.

Questrade vs. Qtrade: Which To Choose?

Who Should Choose Questrade

Questrade should come out on top if:

  • You are a basic couch potato investor (aka index investor) who will be purchasing a lot of ETFs. (Qtrade Investor does have a limited menu of ETFs you can purchase for free, including popular iShares all-in-one ETFs like XBAL and XGRO, but all of my favourite options are not on the list.)
  • You want to cut costs to the absolute bone.
  • You don’t need a lot of hand-holding when it comes to maintaining your portfolio, and you aren’t trying to make a lot of exotic trades every month.

Who Should Choose Qtrade Investor

You should go with Qtrade Investor if:

  • You are interested in mutual funds. (Again, not something I recommend.)
  • You don’t mind paying a little more for elite customer service.
  • You actively trade more than 200 times per month.

The Verdict: Who Wins?

Qtrade Investor is a very good discount brokerage option, and the only other low-cost competitor that I’d put in their ballpark is Virtual Brokers. However, Questrade is still the Canadian Champion.

When you combine the no-fee ETF purchases with our Questrade promo offer code, you can effectively set up and maintain a couch potato portfolio for years before ever owing any fees.

The reality is, Questrade is just too good to pass up at least trying. You get full control over your investments, but it’s like having someone sitting next to you handing you gobs of data and resources to make the best decisions. Unless you want to truly automate things with a robo advisor, Questrade is the way to go in my opinion.

If I was into owning mutual funds or was an extremely active investor that needed customer service to help with exotic trades of various kinds, then I might look harder at Qtrade Investor.  But for the vast majority of Canadian investors who just want to keep their money working for them, a basic index ETF portfolio is still their best bet, and that’s why Questrade comes out on top in Questrade vs Qtrade Investor comparison.

Get $50 in free trades when you start investing with Questrade!

Article comments

Ron Mckuski says:

On average how should it take to receive a dividend once it has been paid out for example I have hep it was due on dec 10 I did not receive drip until dec 18 I find this is too long to wait

Ron says:

I’m getting really fed up with QTrade. I would’t mind the fees if they did something to earn them. But asking for help is like talking to a wall. Their terms aren’t all industry standard, and being new to investing, I have no idea how to translate their terms into those found on such sites as Investopedia. I’m thinking of switching to Questrade, but there isn’t a lot of specific information on their site. I don’t wanna buy into another trading account like the one I had with WealthSimple where only market orders are allowed.

Simon Joe says:

Update – Hold & read this before you open any account with Qtrade, or you will be robbed blind when you move, transfer or close your account. The fee published on its website is misleading to say the least. The real cost is much higher as we just found out in late 2020. The total fee to transfer my RRSP account was more than $500! It included $150 for CAD RRSP, plus CA$350 for USD RRSP account, even though I asked Qtrade and was told specifically “It will be $150 and it will only be charged once and not per account.” in their own online message! The USD RRSP fee includes US$150 for transferring, US$100 for closing the account, which is obviously a greedy double dip (or actually triple dip considering they said they would only charge once for all accounts), and all plus GST. This is highway robbery. Unless you want to be robbed like this, stay as far away from Qtrade.ca as possible!

Glenn Anderson says:

Qtrade took 40% of my trades and because it is required that you “sign” the agreement for each trade, my complaints were not satisfied.
Questrade on the other hand now takes far less of a “cut” and I solely use them. I highly recommend to use Questrade over Qtrade.

Ron says:

What do you mean by: “Qtrade took 40% of my trades?”
They took 40% of your stock?
They ignored 40% of your orders?

Tara DeBrouwer says:

Never invest with Qtrade. They charged me over $200.00 to make a transfer in fees.

Simon Joe says:

Qtrade just robbed me more than CA$350 to transfer 1 USD RRSP account! This is Sept 2020.

David says:

Questrade failed miserably more than once over the last couple of months. During RSP season I had to wait on hold for 90 minutes before customer service answered. I got the standard excuse about unexpected call volume. Obviously they were understaffed. Also during recent market volatility I couldn’t access my account and the trading desk was not answering. Email questions went unanswered.

JC says:

Questrade customer service is basically non-existent. They don’t answer the phones and literally e-mailed me back 4 days later. Their platform is not reliable. i could not log on for two hours at the open on March 23rd during a Pivotal time. All I want is reliability and a human being to help me w technical issues if they arise, a couple dollars more in commission is negligible in the grand scheme of things. One wants something that works!

Lise says:

Avoid Qtrade. I opened an RESP account for my niece with Qtrade. It has about $285 in it, which is currently not a large sum, but it is over a years’ savings of birthday and Christmas money from a 9-year old girl. I am unhappy with the Qtrade platform and their ongoing $25/quarter fees, so I want to transfer the money and close my account. My new institution only supports parent/grandparent relationships with RESPs, so it looks like my best option is to cash out the RESP. Qtrade wants to charge me $125 for this transaction–nearly half of the money diligently saved for a child’s education!

I also have a Qtrade TFSA account that I want to close. This transaction would also bear a $125 fee.

A fee of $250 (plus all the other ongoing fees) to reclaim my own money is unjustly high and predatory, especially for a firm that markets itself as having “smaller prices”.

Glenn Anderson says:

I agree. The best thing you can do is go to Questrade. The trading platform is much more detailed and Questrade is much less greedy than Qtrade by far. Qtrade was taking a whopping 40% of my trades.

Bernie Blumberg says:

sorry, what do you mean by “was taking a whopping 40% of my trades”? thanks.

Morgan Kenneth Davidson says:

Avoid Qtrade. It’s very very basic. And if you do multiple trades on the same stock they screw you.

I tried to sell one block of shares I bought at $15, and they said sorry we blend your cost and dont track your actual buy price. Total BS that cost me $7000 today alone.

Bruce E says:

QTrade numbers are not accurate. Their provider does not calculate dividend information correctly. I need to move as I no longer trust their information. It started out good but I no longer trust their numbers and they don’t seem to be getting the issue fixed. I have been in contact with customer service several times and senior management does not seems to be concerned as this issue has been going on for some time now. I need to find a system with better integrity.

Daniel says:

I would second avoiding QTrade. I really don’t get any of the positive reviews (which was why I went with them initially). They have a ton of fees that are not super clear up front, and then when you take your money out they hit you with extra fees. I put a modest amount of money in a TFSA before realizing that I was being hit with almost $200 of fees per year, and deciding to remove my money. They then charged me almost $300 to take my money out. In total I ended up paying almost 10 PERCENT of my investment in Fees in under a year. Whether or not this was “clearly” spelled out in the fine print it was an awful experience. Coming from the US I am not used to the plethora of banking fees Canadian institutions charge but this was totally insane.

On top of this there website looks like it is from 1998 and their customer service is poor.

Jeff Ciraolo says:

I’ve had trouble with Qtrade and hidden fees. I tried to pull my money out of my TFSA and they are holding a portion back due to a hidden fee that was not made clear when I registered. From my perspective, they trapped me and my money. I’d caution anyone who is considering using them.

Chris says:

I still find Virtual Brokers being the best in pricing (as of May 2019). So as to Questrade beating the competition, I disagree. In the past VB has a $0.01$/share pricing, no minimum. Now they changed this to a min of $1.99 I believe. Therefore on a buy-sale you save $6. If you trade regularly, it adds up quickly. In terms of customer service though, I would not give a medal to VB at this time. Too many issues. You have to know your investments and watch what happens to your account. I have seen borrowing fees charged to my account during a period i did not do any short sale. Anyhow.

Zurine says:

From what I saw regarding IPO purchases you need a minimum purchase of $5000 with Questrade while Qtrade there is no minimum – this is a HUGE deal breaker for me.

Lisa Jackson says:

Hi Zurine,

Here’s some information from Questrade about IPOs:

“We launched our ‘IPO Centre’ in January 2016, which lists all available IPOs and new issues at Questrade, and also allows anyone (including non-Questrade customers) to sign up for an ‘Alert email’ as and when new offers are available.

·This is very popular with our customers and to date we’ve not heard any concerns re the min. investment amount.

· As you know IPOs are typically securities that are in high-demand and often oversubscribed.

· In order to get the most IPOs as possible for our clients, we need to show sufficient interest to the underwriters to get allocations, hence the $5K minimum.”

I hope this helps clarify!

Denjis says:

Questrade are not any better they rip me off in options and stocks and not worth your time by the sounds of things here I think we need a better broker than questrade and qtrade I am looking for a better one.

Lisa Jackson says:

Hi Denjis,

I’m sorry you had a bad experience. We’ve only had good experiences with Questrade. However, you could give Wealthsimple Trade a try. It offers zero commissions on trades. You can check out our full review here: https://stg.youngandthrifty.ca/wealthsimple-trade/

Good luck!

Ron says:

One cautionary note about Wealthsimple Trade: they only offer market orders for buying and selling. No limit orders, trailing, none of that.

Frank says:

How are the real time quotes? Are they current?

What are the fees for US Trades (in a US RRSP)? I am paying 8.75 US a trade at the present time ($11.63 CDN).

Have you used the QTrade platform?