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Questrade vs Interactive Brokers (2026): $0 Trades or Per-Share Pricing?

Updated

Questrade and Interactive Brokers are two independent, non-bank brokers that Canadian investors often weigh when they want more than a basic app. They price trading in opposite ways: Questrade charges nothing per stock or ETF trade and earns more on currency conversion, while Interactive Brokers charges by the share and converts currency for a fraction of a percent. This comparison shows where each approach comes out ahead. For the rest of the market, see the online broker comparison.

Side by side

Fees are from each broker’s pricing page as of September 2026.

QuestradeInteractive Brokers (Pro Fixed)
Canadian stock and ETF trades$0$0.01 per share, $1.00 minimum
US stock and ETF trades$0 (ECN fees apply only in limited cases)US$0.005 per share, US$1.00 minimum
Currency conversion1.5%, or Norbert’s Gambit ($9.95 journaling)0.20 basis points, US$2.00 minimum
Equity options$0 per contract on all US equity options; Canadian options $0.99 per contractPer-contract fee
US dollars in registered accountsYesYes
Registered accountsTFSA, RRSP, FHSA, RESP, RRIF, locked-in accountsTFSA, RRSP, FHSA, RRIF listed for individuals
Other investmentsBonds, GICs, mutual funds, precious metalsFutures, bonds, currencies, international exchanges
Transfer out$150 per accountCheck IBKR’s schedule

Worked examples

Buying a Canadian ETF every month

Twenty shares of a Canadian ETF each month cost $0 at Questrade. At Interactive Brokers, 20 shares at $0.01 would be $0.20, so the $1.00 minimum applies: $12.00 over a year of monthly purchases.

Converting $30,000 to buy US-listed ETFs

RouteConversion cost
Questrade standard conversion$450
Questrade with Norbert’s Gambit$9.95 journaling fee plus the bid-ask spread on the interlisted security
Interactive Brokers0.20 bps of $30,000 is $0.60, below the US$2.00 minimum, so the cost is about US$2.00

Questrade’s standard conversion is the costly route; Norbert’s Gambit narrows most of the gap at the cost of a few days and a few extra steps. Investors who convert often, or in both directions, save the most time and money at IBKR. How to buy US stocks from Canada covers the Canadian-listed ETF alternative that avoids conversion altogether.

Selling a large position

A 2,000-share sale of a Canadian stock is $0 at Questrade (Questrade lists no ECN fees on Canadian orders) and $20.00 at IBKR under Fixed pricing. Per-share pricing grows with share count, which matters most for low-priced stocks.

Platforms and tools

Questrade offers a web platform, a mobile app and Questrade Pro, with free Level 1 streaming data and paid upgrades for deeper data. Interactive Brokers offers Trader Workstation, a web portal, a mobile app and an API, with advanced order types, scanners and access to many international markets. IBKR’s tools go further; Questrade’s are easier to learn.

Which one fits

Questrade tends to suit buy-and-hold ETF and dividend investors, anyone who makes many small trades, RESP and locked-in account holders, and investors who are happy to use Norbert’s Gambit for occasional large conversions.

Interactive Brokers tends to suit investors who convert currency often or in large amounts, traders who want international markets, futures or advanced order types, and those who trade in size where per-share pricing is competitive.

Some investors use both: a Questrade account for Canadian ETFs and registered plans IBKR does not list, and an IBKR account for US-dollar and active trading. If Wealthsimple is also on your list, see the three-way Questrade vs Wealthsimple vs Interactive Brokers comparison.

Sources

The figures and rules on this page come from these sources. How we check facts.