Questrade Review January 2025 Pros, Cons, Features, & Pricing: Get $50 + $150 Transfer Value At Sign Up

When you borrow money to invest it, this is called “investing on the margin”. The CESG cash, plus your investment returns within the Questrade RESP account will be taxed as income in the hands of the student. This means that it’s almost always tax-free because of the large amount of tax credits and deductions that students enjoy. Your original cash can be withdrawn tax-free as you already paid tax on it before investing it. These memberships aren’t just checkboxes; they signify adherence to stringent rules designed to protect investors.

Whatever the reason, if you’re not yet familiar with this financial services provider, here’s what you need to know to decide whether it’s the right fit for you. If you’re shopping around for a discount brokerage, you’ve likely come across Questrade, especially since it’s  among the most popular online brokerages,  and competes with Wealthsimple. The zero-commission stampede that swept brokers in the United States stopped at the Canadian border. Questrade’s fees are lower than most other Canadian brokers and banks, and rebates offered on subscription costs means active traders can erase, or partially offset, market data fees. There are quite a few useful tools for fundamental investors at Questrade, and the platforms are very easy to use. Questrade clients can trade on two desktop trading platforms or the mobile app.

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• Their registered account administration fee is $25/quarter, waived if you maintain a $25,000 balance.
• You can read all about the FHSA and how to get the most out of it (as well as what investments we recommend) by checking out our ultimate guide to Canada’s FHSA.
• This means they’re willing to put their money where their mouth is when it comes to security.
• In total, about 450 people who are knowledgeable about investing voted on these 3 polls.
• All the major banks and online brokers in Canada are members of IIROC.
• This plan gives you access to advanced tools, charts, data, and graphs that allow you to buy and sell faster and make informed trading decisions.

Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. Together with access to Canadian stock markets, Questrade clients can trade all U.S.-based securities on the NASDAQ, NYSE, and other bourses. Stocks, options, mutual funds, ETFs, bonds, and precious metals are supported in every account. It is good to see that Questrade have a superb range of educational resources to help keep you in tune with the different financial markets. These can be used to spot market growth, see the latest investment trends, understand new trading principles and get an overall feel for current market situation.

I use Questrade to manage my RRSP and TFSA accounts and have enjoyed the ease with which I can purchase Vanguard’s all-in-one ETF portfolios on the platform. It offers options levels ranging from 1 to 4 depending on the type of account you are using, your trading knowledge, and risk tolerance. The advanced data packages are suitable for active professional traders. The Basic free plan is adequate for the average investor and offers unlimited snap quotes (i.e. real-time data on refresh) for Canadian and U.S. assets. This platform offers advanced tools and market insights through industry-leading companies like NewsEdge and AutoChartist. Active and professional traders looking to trade foreign currencies (FOREX) can also use the Questrade Global trading platform.

We’ve escalated your review to our team and someone will be reaching out to you directly to help you out. Hi Jennifer, we’re sorry to see that you’ve had a negative experience with us. We’d be happy to look into things further for you and address any concerns you have.

Hi Ali, we’re sorry to hear that you feel this way about our commission structure. If you’d like to share any additional feedback with us, please feel free to email us at and we’ll be happy to look into things further for you. Hi Andrew, we’re sorry to see that you’ve had a negative experience with us regarding your RESP account.

• Edge web does a very good job of providing the core necessities of trading, including quotes, charts, trading, customizable watch lists, news, and account management.
• Unfortunately, the commissions charged by Questrade on options trades make those strategies less appealing to investors with smaller amounts of capital.
• While Questrade is considered one of the best trading platforms for Canadians, it’s restrictive.
• If I wanted to maximize my contribution, I could buy another couple shares of Canadian Utilities with the leftover funds, but let’s stick with this for now.
• IQ Edge is a downloadable desktop platform, which is only available for Windows and Mac users.

Questrade might offer the best mix of products, trading functionality, and price among Canadian online brokers. Wealthsimple is Canada’s largest robo advisor platform, but it also offers self-directed investing, with no commission fees on stock and ETF trades. It’s trading platforms, which include a mobile app and desktop trading, are easy to use, but limited in functionality. The platform is best suited for newer investors or anyone looking for a free trading option. TD Direct Investing is Canada’s largest online brokerage, and a division of Toronto Dominion Bank, which is the 6th largest financial institution in North America by assets.

Discover Investment Opportunities

As of late-May 2022, the platform has $30 billion in assets under administration and opens roughly 250,000 new accounts a year. Today we’re going to talk about one of Canada’s most popular discount brokers — Questrade. Canadian-based discount brokers are a dime a dozen, which means firms are constantly looking for new ways to differentiate themselves from the pack. Almost every account type is available, including Cash, TFSA, RRSP, Spousal RRSP, RESP, RIF, LIF, and Corporate Cash accounts.

Questrade RRSP Account

If FOREX and CDFs are in your investment wheelhouse, Questrade Global makes it easy to trade currencies and commodities on international markets. While that might not be enough for some investors, the app can be used for your basic trading needs, but likely not more than that can be done well. It does offer some interesting features like real-time info, an overview chart and customizable alerts. It also has a learning mode for those looking to learn the ropes before putting up the cash. With a 2.1 star rating on the Google Play store, and a ton of negative reviews, it’s clear that while they are working on it, it’s not quite there yet.

Self-Directed Investing

It offers accounts and financial tools for investors of all experience levels. Commission-free ETFs allow you to generate long-term wealth through diversified exposure to global equities while saving on trading fees. Low fees are, without a doubt, Questrade’s top-selling feature. You won’t pay an annual fee for any Questrade account, registered or non-registered. On the flip side, several prominent online brokers, including RBC and TD, charge as much as $100 for registered accounts unless you meet their minimum household account balance. Make no mistake; annual account fees will eat into your returns over the long run.

Transparent Pricing

Whether it’s credit cards, banking products, or travel tips, Tom shares his insight as a financial analyst and as the writer behind the award-winning MapleMoney. The MERs for Questwealth SRI portfolios are slightly higher than the regular ETFs (.21%-.35%) but are still very low compared to actively questrade review managed mutual funds. These days, more and more Canadians want to hold investments that align with their values. Questwealth has a dedicated portfolio for the socially conscious investor, called SRI portfolios. When it comes to research, use Questrade’s symbol lookup tool to access the stock you want to analyze. Questrade provides reporting, performance data, and relevant news articles on any of the stocks you select.

Investment Accounts You Can Open With Questrade

While Questrade Edge is designed for active and pro traders, all of Questrade’s trading platforms are open to all investors. Opening a Questrade brokerage account was one the first concrete actions that I took as an investor nearly twenty years ago. While it’s no longer my preferred Canadian online broker, I still keep it active for the convenience of isolating a specific non-registered account and to stay updated with the platform’s latest features.