Qtrade Direct Investing and Questrade are two non-bank brokers that Canadians who want a full-featured platform often weigh against each other. Both now charge $0 on stock and ETF trades, so this comparison looks at the costs and features that still differ. The online broker comparison covers the wider market.
Side by side
Fees are from each broker’s pricing page as of September 2026.
| Qtrade | Questrade | |
|---|---|---|
| Stock and ETF commission | $0 | $0 |
| ECN fees | Not passed on except for repeated, high-volume trading | None on Canadian orders; on US orders only in limited cases, such as direct-routed, OTC or overnight-session orders |
| Equity options | $0.75 per contract; $30 per assignment | $0 per contract on all US equity options; Canadian options $0.99 per contract; $24.95 to exercise, $0 per assignment |
| Mutual funds | $0 | $9.95 per trade |
| DRIP | Free | Free |
| US dollars in registered accounts | US$15 per quarter per account (RRSP, RRIF, TFSA) | No extra charge |
| Currency conversion | Not published as a percentage | 1.5% |
| Journaling for Norbert’s Gambit | Confirm with Qtrade | $9.95 per online request |
| Transfer out | $150 per account | $150 per account |
Options traders
This is the biggest cost difference, and it depends on where the options are listed. On 10 contracts, Qtrade’s per-contract fee comes to $7.50; Questrade lists $0 per contract on all US equity options, but charges $0.99 per contract on Canadian options, or $9.90 on 10 contracts. Assignment and exercise fees differ too, which matters for strategies that often end in assignment. The options trading platforms comparison lays these out across brokers.
US-dollar investors
Holding US dollars inside a TFSA or RRSP avoids converting dividends and sale proceeds back to Canadian dollars. At Questrade that costs nothing extra; at Qtrade each US-dollar registered account costs US$15 a quarter, or US$60 a year. For converting, Questrade’s standard rate is 1.5%, and Norbert’s Gambit cuts most of that for a $9.95 journaling fee. Qtrade notes it may earn revenue on foreign exchange but does not publish a percentage, so ask before converting a large amount. How to buy US stocks from Canada compares all the routes.
Dividend investors
Both brokers list DRIPs as free, so dividends on eligible securities can be reinvested automatically at either. Check how each handles fractional shares from reinvested dividends if you hold high-priced stocks.
Platforms, research and service
The two differ more in approach than in price. Qtrade puts its research, portfolio analytics and client service at the centre, which suits investors who study their holdings. Questrade leans toward range and trading features, adding bonds, GICs and precious metals to stocks and ETFs, and its Questrade Pro trading platform. Questrade also runs a robo-advisor, Questwealth, for anyone who wants part of their money managed.
Which one fits
Qtrade tends to suit investors who value research and service, hold mutual funds, and do not need to keep US dollars in several registered accounts.
Questrade tends to suit US options traders, investors who keep US dollars in their TFSA or RRSP, and those who want Questrade’s robo-advisor, Questwealth, alongside a self-directed account.
Other comparisons: Qtrade vs Wealthsimple Trade and Questrade vs Interactive Brokers. Other non-bank brokers often on the same shortlist are covered in the Wealthsimple review and the Interactive Brokers Canada review.
Sources
The figures and rules on this page come from these sources. How we check facts.