Questrade Review (2026):
$0 commissions, real costs, and who it fits
Questrade is Canada’s largest independent online broker. Since March 2025 it charges $0 commission on all stock and ETF trades — both buys and sells. That removes the old free-to-buy, pay-to-sell asymmetry. What remains is a full-featured platform with the widest registered account range of any Canadian self-directed broker: TFSA, RRSP, RESP, FHSA, RRIF, LIRA. This review covers what Questrade actually costs in 2026, what’s changed, and when a competing platform wins instead.
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TL;DR
- Canadian investors building ETF portfolios in a TFSA, RRSP, or FHSA
- First-time homebuyers who want a tax-optimised FHSA account
- Parents saving for education through an RESP
- Investors who want dual-currency accounts to manage FX efficiently
- Those running Norbert’s Gambit to minimise CAD/USD conversion costs
- Investors wanting GICs, bonds, or options alongside ETFs
- Investors regularly buying US-denominated assets without a FX strategy (1.5–1.75% drag per conversion)
- Beginners who want the simplest possible mobile-first experience
- Those with less than $1,000 to start (minimum deposit applies)
- Investors who prioritise customer service — this is a known weak point
- Those who need fractional investing in Canadian-listed shares
What is Questrade?
Questrade was founded in 1999 and is headquartered in Toronto, Ontario. It operates as a registered investment dealer regulated by the Canadian Investment Regulatory Organization (CIRO, formerly IIROC) and is a member of the Canadian Investor Protection Fund (CIPF), which provides up to $1 million in coverage per account category if the firm became insolvent. Beyond CIPF, Questrade carries additional private insurance extending protection to $10 million per account — a meaningful layer above the regulatory floor.
With over $50 billion in assets under administration and more than 350,000 new accounts opened annually, Questrade is the largest independent (non-bank-owned) online broker in Canada. It is available to Canadian residents only — not accessible to investors in the EU, UK, US, or elsewhere.
The March 2025 move to $0 commissions across all stocks and ETFs was a significant pricing update — it eliminated the old asymmetry where ETF buys were free but sells cost money, and closed the gap with Wealthsimple Trade on raw commission cost. The differentiators between Canadian brokers now sit firmly in account types, FX handling, platform depth, and customer service.
1999, Toronto, Canada
CIRO (Canadian Investment Regulatory Organization)
CIPF up to $1M + private insurance to $10M per account
$1,000 CAD
$0 (as of March 2025)
$0.99 per contract
~1.5–1.75% over mid-market rate
TFSA, RRSP, FHSA, RESP, RRIF, LIRA, Margin
Yes — 500+ US securities
Up to $150 per account
Canadian residents only
Questrade fees in 2026
Since March 2025, Questrade charges $0 on all stock and ETF trades — buys and sells. This is the biggest structural change to Questrade’s pricing in years, and it simplifies the fee picture considerably. The remaining real costs for a passive long-term investor are: the FX spread and, for options traders, the per-contract fee.
Buy: $0. Sell: $0. As of March 2025, all stock and ETF commissions are zero — on both sides of the trade. This applies to Canadian and US-listed securities across TFSA, RRSP, FHSA, RESP, and non-registered accounts.
No minimum trade size. No inactivity fee. No annual platform fee. No custody charge. The commission line is genuinely clean.
$0.99 per contract — among the cheapest options pricing in Canada. (Wealthsimple does not support options; Qtrade charges $0.75 per contract.) Multi-leg strategies are supported via Questrade Edge.
Options approval required. Not relevant for the majority of passive ETF investors, but a genuine differentiator for those who use covered calls or hedging strategies.
~1.5–1.75% spread — applied whenever you trade a US-denominated asset from a CAD-funded account. This is not a separate fee line — it’s embedded in the exchange rate you receive. On a $10,000 USD purchase, that’s $150–175 in conversion cost, applied on both the buy and the sell.
This is now the primary cost to manage. Investors buying Canadian-listed ETFs (XEQT, VEQT, XGRO) in CAD avoid it entirely. Those who trade US-listed assets regularly should use Norbert’s Gambit or the dual-currency account structure — both covered below.
No annual fee, no inactivity fee for accounts above $1,000. No custody charge. DRIP (dividend reinvestment) is free. GICs are available at no additional fee.
Transfer-in reimbursement: Questrade covers up to $150 per account in transfer fees if you move holdings from another broker. Worth noting if you’re switching from a bank brokerage.
Account types — and why the FHSA matters
Questrade supports a wider range of registered account types than any comparable Canadian self-directed broker. This is one of its most durable structural advantages — especially now that commission pricing has converged across platforms.
- TFSA — Tax-Free Savings Account
- RRSP / Spousal RRSP — Registered Retirement Savings Plan
- FHSA — First Home Savings Account (see below)
- RESP — Registered Education Savings Plan
- RRIF / LIF — Registered Retirement Income Fund
- LIRA / Locked-In RRSP
- Individual margin account
- Joint account
- Corporate account
- Dual-currency accounts (CAD + USD) — hold USD balances without automatic conversion
- Questwealth Portfolios — managed robo-adviser option (see below)
The First Home Savings Account (FHSA) is a relatively new registered account that combines the best features of the RRSP and TFSA specifically for first-time homebuyers. Questrade was the first Canadian broker to launch it, and it remains one of the few self-directed platforms that supports it alongside a full investment product range.
How it works: contributions are tax-deductible (like an RRSP), and qualifying withdrawals for a first home purchase are completely tax-free (like a TFSA). Annual contribution limit is $8,000, with a lifetime limit of $40,000. If you don’t buy a home within 15 years, the full balance — contributions and growth — transfers tax-free into your RRSP or RRIF, preserving the tax benefit either way.
For a Canadian under 40 who hasn’t bought a home, opening an FHSA is one of the best tax moves available — and the fact that Questrade lets you invest those contributions into low-cost ETFs (rather than leaving them as cash in a savings-only FHSA) is the key advantage over bank-issued versions.
Tradable assets: ETFs, stocks, options, bonds, GICs, mutual funds, and precious metals (via Quest Metals). For a passive long-term investor, the relevant universe is Canadian and US-listed ETFs and stocks — available at $0 commission on all major North American exchanges (TSX, NYSE, NASDAQ).
Norbert’s Gambit — how to sidestep the FX spread
The 1.5–1.75% FX spread on CAD-to-USD conversion is the primary remaining cost on Questrade. On repeated, regular contributions into US-listed securities, that spread compounds into a significant drag over time. Norbert’s Gambit is the standard workaround — and Questrade is widely considered the best Canadian platform to execute it, because it supports dual-currency balances inside the same registered account.
- Buy DLR.TO (a Canadian-listed, USD-denominated ETF) in CAD inside your TFSA, RRSP, or non-registered account.
- Call or chat with Questrade and request a journal — this converts your DLR.TO position to DLR.U.TO (the USD equivalent of the same ETF), held in the USD side of the same account.
- Sell DLR.U.TO. You now hold USD at close to the interbank rate — typically 0.1–0.2% cost instead of the 1.5–1.75% spread.
- Use those USD funds to buy US-listed ETFs or stocks at $0 commission.
The process takes 2–3 business days for the journal to settle. On large, infrequent conversions — say $5,000+ at a time — the spread saving is real and worth the friction. On small monthly contributions, it’s generally not worth the hassle; buy a Canadian-listed ETF instead.
If your investing plan is built around Canadian-listed all-in-one ETFs (XEQT, VEQT, XGRO), there’s no FX conversion at all — these are CAD-settled, globally diversified, and free to trade at $0. Norbert’s Gambit is only relevant if you specifically need USD exposure through US-listed securities.
Questrade Edge and Questrade Pro: what the platforms are actually like
Questrade operates two distinct platform tiers in 2026. QuestMobile and Questrade Edge are the standard self-directed experience — functional, reasonably full-featured, and oriented toward investors who want to build and manage a long-term portfolio. Questrade Pro is the new flagship browser-based platform for active traders, replacing the older Edge Web interface, with advanced order types, Level 2 data, and deeper charting tools. It’s relevant for frequent traders and technical analysts; passive ETF investors won’t need it.
- Multi-account dashboard — manage TFSA, RRSP, FHSA side-by-side
- Dual-currency accounts — hold CAD and USD in the same registered account
- Fractional shares on 500+ US securities (real-time execution)
- TipRanks Smart Score and Trading Central integrated on Edge
- Questrade Pro for advanced order types and Level 2 data
- 24-hour paperless account opening
- Portfolio performance analytics and DRIP automation
- Mobile app ratings are poor — 1.7/5 on Apple App Store, 2.1/5 on Google Play as of early 2026
- Customer service is a known weak point — wait times and resolution quality lag behind Qtrade
- Questrade Pro (new in 2026) still has some rough edges being worked out
- Educational resources are limited compared to bank brokerages
- No fractional investing for Canadian-listed securities
- Interface density can be overwhelming for first-time investors
The customer service concern deserves direct acknowledgement: Questrade’s support has drawn consistent criticism for long wait times, and a widely-reported 2025 fraud case (a client reported losing ~$70,000 through an account breach that Questrade was slow to resolve) raised questions about both security responsiveness and support quality. Questrade has stated it is working to increase support capacity. For investors who want confidence that a human will pick up quickly when things go wrong, Qtrade has the stronger reputation.
Questwealth Portfolios — if you want it done for you
Alongside the self-directed brokerage, Questrade offers Questwealth Portfolios — a robo-adviser service that manages a diversified ETF portfolio for you at a low annual fee. This review focuses on the self-directed side, but Questwealth is worth knowing about if you want the simplicity of automated management without the cost of a traditional financial adviser.
0.25% p.a. (drops to 0.20% above $100,000)
$1,000
ETF-based; actively managed asset allocation (unlike most pure robo-advisers)
TFSA, RRSP, FHSA, RESP, non-registered
Yes
Yes — socially responsible option available
At 0.25%, Questwealth is among the cheapest managed portfolio options in Canada — most robo-advisers start at 0.40–0.50%. The tradeoff versus self-directing with a single all-in-one ETF is that you pay the 0.25% management fee on top of underlying ETF costs. For investors who genuinely won’t self-direct consistently, that fee may be worth the discipline it enforces.
Who Questrade is actually built for
The 2026 version of Questrade’s value proposition is broader than it used to be. With $0 commissions across the board, it’s no longer just a buy-and-hold ETF play — it’s a genuinely full-service platform for Canadian DIY investors who want the widest possible account range at low cost. The right question is now about what you need beyond commissions: account types, FX workflow, and how much platform complexity you can tolerate.
- Monthly TFSA/RRSP contributions into Canadian all-in-one ETFs (XEQT, VEQT, XGRO) — $0 cost, no FX needed
- First-time homebuyers opening an FHSA alongside an RRSP
- Parents running an RESP (no competing broker in this tier supports it)
- Investors using Norbert’s Gambit to minimise CAD/USD conversion costs
- Those wanting bonds, GICs, or options alongside their ETF core
- Investors who prefer a desktop-first experience with real analytics tools
- Investors regularly buying US-listed assets without a FX plan (1.5–1.75% per conversion)
- Complete beginners who want the simplest mobile-first flow without any learning curve
- Investors with under $1,000 to start
- Those who rely on customer service and need fast, reliable support
- Anyone who wants fractional investing in Canadian-listed shares
Open a TFSA and/or FHSA (if first-time homebuyer). Set a monthly pre-authorised contribution. Buy one all-in-one CAD-listed ETF — XEQT for global equities, XGRO for 80/20 stocks/bonds, or XBAL for 60/40. Automate it. Don’t touch it.
$0 commission on every trade. No FX conversion because you’re buying in CAD. Broad global diversification in a single ticker. CIPF-protected plus $10M private insurance. This is the setup where Questrade’s total cost model works cleanest — and the one that keeps complexity at zero.
Questrade vs Wealthsimple Trade — and a word on Qtrade
With both Questrade and Wealthsimple now at $0 commissions, the headline pricing battle is over. The comparison has shifted to account range, FX cost, platform depth, and customer service — where each platform has clear strengths.
| Questrade | Wealthsimple Trade | |
|---|---|---|
| ETF & stock commission | $0 (buy + sell) | $0 (buy + sell) |
| FX spread (CAD → USD) | ~1.5–1.75% | ~1.5% |
| Minimum deposit | $1,000 | $0 |
| TFSA / RRSP | Yes | Yes |
| FHSA | Yes | Yes |
| RESP | Yes | No |
| Dual-currency accounts | Yes (CAD + USD) | Limited (Premium only) |
| Options trading | Yes ($0.99/contract) | No |
| Fractional shares | Yes (500+ US securities) | Yes (broader) |
| Mobile app experience | Functional; poor app store ratings | Clean, modern, highly rated |
| Customer service | Below average; long wait times reported | Average |
- You need an RESP alongside your TFSA or RRSP
- You want a dual-currency account to run Norbert’s Gambit efficiently
- You want access to bonds, GICs, or options
- You prefer a desktop-first experience with deeper research tools
- You want the Questrade Pro platform for active trading
- You’re starting with under $1,000
- You want a clean, highly-rated mobile experience
- You don’t need RESP and your account needs are simple
- You want fractional investing in a broader range of securities
- You value a polished app over platform depth
Ready to open a Questrade account?
Open a TFSA, RRSP, or FHSA, fund it with at least $1,000, and buy a Canadian-listed all-in-one ETF. Set up automated contributions. That’s the workflow that keeps costs at zero and lets compounding work without friction.
Go deeper
Frequently asked questions
Are stocks and ETFs free to trade on Questrade?
Yes. Since March 2025, Questrade charges $0 commission on all stock and ETF trades — both buys and sells. This applies to Canadian and US-listed securities across all account types (TFSA, RRSP, FHSA, RESP, and non-registered). The main remaining cost is the FX spread of approximately 1.5–1.75% when converting between CAD and USD, which applies each time you trade a US-denominated asset from a CAD-funded account. Investors buying Canadian-listed ETFs in CAD pay no commission and no FX cost whatsoever.
Is Questrade safe and regulated?
Questrade is regulated by the Canadian Investment Regulatory Organization (CIRO, formerly IIROC) and is a member of the Canadian Investor Protection Fund (CIPF), which covers eligible accounts up to $1 million per category in the event of insolvency. Beyond CIPF, Questrade carries additional private insurance extending protection to $10 million per account — a meaningful layer above the regulatory floor. Questrade also uses bank-level encryption, mandatory two-factor authentication (2FA), and an Online Security Guarantee for unauthorised transactions.
What is the FHSA and does Questrade offer it?
The First Home Savings Account (FHSA) is a registered account that combines the tax advantages of both the RRSP and TFSA specifically for first-time homebuyers. Contributions are tax-deductible, and qualifying withdrawals for a first home purchase are completely tax-free. Annual contribution limit is $8,000 with a lifetime cap of $40,000. Questrade was the first Canadian broker to offer the FHSA. If you don’t end up buying a home within 15 years, the full balance transfers tax-free into an RRSP or RRIF — so the tax benefit is preserved regardless of outcome.
What is the minimum deposit to open a Questrade account?
Questrade requires a minimum initial deposit of $1,000 CAD to open a self-directed account. There are no annual account fees or inactivity fees for accounts above this threshold. If you’re starting with less than $1,000, Wealthsimple Trade has no minimum and is the more accessible entry point for Canadian investors.
How does Questrade’s FX conversion work and what does it cost?
When you buy US-listed securities from a CAD-funded account, Questrade converts currency at a spread of approximately 1.5–1.75% above the mid-market rate. This cost is embedded in the exchange rate you receive, not listed as a separate fee. On a $10,000 USD purchase, that’s roughly $150–175 in conversion cost on the way in, and again on the way out when you sell. Investors who frequently trade US-denominated assets can reduce this significantly using Norbert’s Gambit — buying DLR.TO and journalling it to DLR.U.TO inside the same Questrade registered account, achieving conversion at close to the interbank rate (typically 0.1–0.2%). The simplest alternative is to buy Canadian-listed ETFs that track global indexes (like XEQT or VEQT) — these settle in CAD and require no FX conversion at all.
Is Questrade better than Wealthsimple Trade?
Both now offer $0 commissions on stocks and ETFs, so the comparison turns on other factors. Questrade is stronger when you need an RESP (Wealthsimple doesn’t offer it), want dual-currency accounts for efficient FX management via Norbert’s Gambit, want access to options at $0.99 per contract, or prefer the depth of Questrade Edge or Questrade Pro for active trading. Wealthsimple is stronger when you’re starting with under $1,000, want a cleaner and better-rated mobile app, or have simple account needs with no requirement for RESP or options. For pure passive ETF investing in a TFSA or RRSP using Canadian-listed all-in-one ETFs, both are excellent — pick based on account needs and which interface you’ll actually use consistently.
QuantRoutine provides educational content only. Nothing on this page is an offer, solicitation, or recommendation to buy or sell any security or to open an account with any specific broker. Investments can lose value, and past performance does not guarantee future results. You are responsible for your own investment, tax, and legal decisions. Always review each broker’s current terms, fees, and eligibility on their official website before opening or funding an account.