Overview
Questrade is Canada's leading independent online broker, known for free ETF purchases and dramatically lower costs than the big-bank brokerages. It has become the default recommendation for Canadians who want to self-direct their investments.
Key Features
- Free ETF purchases (commissions apply only when selling)
- Full range of registered accounts: TFSA, RRSP, FHSA, RESP
- Questwealth robo-advisor portfolios as a hands-off option
- USD and CAD held separately in registered accounts (avoids forced conversion)
Fees
Buying ETFs is free, stock trades cost 1¢ per share (min $4.95, max $9.95), and there are no annual account fees. Compared to the $9.99 flat commissions at big-bank brokers, an active Canadian investor saves hundreds per year.
Regulation & Safety
Questrade is regulated by CIRO and is a member of the Canadian Investor Protection Fund, covering accounts up to $1 million against broker insolvency. It has operated since 1999 with a clean track record.
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Visit Questrade →Platform Experience
The web platform covers the essentials cleanly, and Questrade Edge serves more active traders with better charting and order types. It won't rival IBKR's toolset, but it doesn't try to.
Mobile App
The mobile app is straightforward and reliable for monitoring and placing trades. Power users may find it basic, but for typical long-term investors it does the job well.
Pros & Cons
Pros
- Free ETF purchases
- CIPF protection up to $1M
- Clean simple platform
Cons
- Limited international markets
Who Is Questrade Best For?
Canadian investors building long-term portfolios — especially ETF investors using TFSAs and RRSPs who want to stop paying big-bank commissions.
Final Verdict
For most Canadians, Questrade hits the sweet spot: real cost savings, full registered account support, and CIPF protection. Active traders may eventually want more powerful tools, but as a home base for Canadian wealth-building it's hard to beat.
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