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Questrade Review 2026 | $0 Commission Stocks & ETFs

Updated

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Questrade Review 2026

Quick Overview

Feature Details
Stock trades $0 (both buy and sell)
ETF purchases $0
ETF sells $0
Account minimum None advertised
Options $0 on most contracts
Margin accounts ✅ Yes
Currency conversion ~1.5-2% (or Norbert’s Gambit for ~0.2%)
Mobile app ✅ iOS, Android
Desktop platform ✅ IQ Edge / Questrade Pro
Regulation CIRO, CIPF member

Source: questrade.com/pricing, verified August 2026. Rates and fees change – confirm current pricing before trading.

Overall Rating

Category Score
Fees ★★★★½
Ease of use ★★★★
Investment selection ★★★★★
Research tools ★★★★
Advanced features ★★★★½
Customer support ★★★½
Overall ★★★★

Fees & Pricing

Trading Fees

Transaction Cost
ETF purchases $0
ETF sells $0
Stock trades $0 (both buy and sell)
Options $0 on most contracts
ECN fees May apply on some orders (adds ~$1-3 per trade)
Bonds $24.95/trade
Mutual funds $9.95/trade
GICs $0

Account Fees

Fee Cost
Account maintenance $0
Inactivity fee $0 (none advertised)
Journaling request $9.95 (free with Questrade Plus)
Transfer out (full) $25 per account
Transfer out (partial) $25 per account
Wire transfer $0 incoming, $25 outgoing

Currency Conversion

Method Cost
Automatic conversion ~1.5-2% spread
Norbert’s Gambit (manual) ~$10-20 total (flat cost)
Savings example $10,000 US purchase: $150-200 automatic vs ~$15 Norbert’s

Account Types

Account Available Notes
TFSA ✅ Most popular
RRSP ✅ Full features
FHSA ✅ First home savings
RESP ✅ Government grants
RRIF ✅ Retirement income
LIRA ✅ Locked-in retirement
LIF ✅ Life income fund
Margin ✅ Leverage trading
Corporate ✅ Business accounts
Joint ✅ Shared accounts

Note: Questrade offers more account types than almost any other discount broker in Canada, including LIRA, LIF, and corporate accounts. That broader account menu matters most once you know best account type for US stocks and ETFs in Canada and your overall ETF plan.

Trading Platforms

Questrade Trading (Web)

Feature Details
Access Browser-based
Real-time quotes ✅
Charting Basic
Order types Market, limit, stop, stop-limit
Watchlists ✅
Best for Casual investors

IQ Edge (Desktop)

Feature Details
Access Downloadable application
Real-time quotes ✅ Level 1 + Level 2 (paid)
Charting Advanced (indicators, drawing tools)
Order types All types including bracket orders
Screeners Stock and options screeners
Best for Active traders

Mobile App

Feature Details
Trading ✅ Full trading
Charting Basic
Alerts ✅ Price alerts
Touch ID/Face ID ✅
Rating 4+ stars on both stores

What You Can Trade

Asset Available Notes
Canadian stocks ✅ TSX, TSX-V, CSE
US stocks ✅ NYSE, NASDAQ, AMEX
Canadian ETFs ✅ Free purchases
US ETFs ✅ Free purchases
Options ✅ Canadian and US
Bonds ✅ Government and corporate
GICs ✅ Various terms
Mutual funds ✅ Limited selection
Crypto ❌ Not available
Fractional shares ❌ Not available
IPOs ❌ Not available

Pros & Cons

Pros ✅

  • $0 commission — free stock and ETF trades, both buying and selling
  • Options trading — one of few Canadian brokers with options, $0 on most contracts
  • Norbert’s Gambit — convert currency cheaply for US stocks
  • Full account range — LIRA, LIF, corporate, and all registered accounts
  • IQ Edge — solid desktop platform for active traders
  • Margin accounts — leverage available
  • No account fees — no maintenance or inactivity fee

Cons ❌

  • ECN fees add to trade costs (~$1-3 extra per trade)
  • No fractional shares — must buy whole shares
  • Currency conversion — 1.5-2% unless you do Norbert’s Gambit
  • App less polished than Wealthsimple
  • Customer support — wait times can be long

Who Should Use Questrade

Great Fit ✅

Investor Type Why
ETF investors Free purchases (XEQT, VGRO, etc.)
Options traders One of few Canadian options brokers
US stock buyers Norbert’s Gambit saves hundreds
RESP investors Grant-eligible, free ETF buys
Corporate accounts Available (rare in Canada)
Intermediate investors More features than Wealthsimple

Not the Best Fit ❌

Investor Type Better Alternative
Complete beginners Wealthsimple (simpler interface)
Very small accounts Wealthsimple ($0 minimum)
Day traders Interactive Brokers (lower per-share)
Crypto traders Wealthsimple (has crypto)

Questrade vs Competitors

Feature Questrade Wealthsimple Interactive Brokers TD Direct
ETF purchases $0 $0 $0 (select) $9.99
Stock trades $0 $0 $1 min $9.99
Options ✅ ❌ ✅ ✅
Minimum None advertised $0 $0 $0
Fractional shares ❌ ✅ ✅ ❌
FX cost 1.5-2% / NG 1.5% / Premium 0.002% 1.5%
Best for ETFs, options Beginners Active traders TD bank clients

Norbert’s Gambit on Questrade

A key advantage — converts CAD to USD (or vice versa) for ~$10-20 instead of 1.5-2%:

Step Action
1 Buy DLR.TO (CAD side) in your account
2 Call Questrade to journal to DLR.U.TO (USD side)
3 Sell DLR.U.TO for USD
4 Use USD to buy US stocks
Savings ~$10-20 total vs $150-200 on $10,000 automatic conversion

If you are using Questrade mainly for long-term index investing, pair this with how to buy ETFs in Canada and best all-in-one ETFs in Canada.

How to Open an Account

  1. Go to questrade.com and click “Open an account”
  2. Choose account type (TFSA, RRSP, etc.)
  3. Provide personal info and SIN
  4. Upload ID verification
  5. Fund your account (e-transfer, bank link, or transfer from another broker) – no minimum deposit advertised
  6. Start trading

Approval time: 1-3 business days typically.