📊 Overall Summary
Questrade is a leading Canadian online brokerage renowned for its low-cost ETF investing, robust trading platforms, and comprehensive self-directed trading services. Established in 1999 and regulated by the IIROC, Questrade combines affordability with a wide range of investment options, including forex, stocks, ETFs, options, and cryptocurrencies.
Catering primarily to Canadian investors, Questrade offers commission-free ETF purchases, competitive forex pricing, and advanced tools like MetaTrader 4/5 integration. While its forex and CFD offerings are narrower than dedicated forex brokers, its focus on long-term investing, retirement accounts (RRSP/TFSA), and strong customer support make it a top choice for Canadians seeking a versatile, regulated platform.
| Feature | Details |
|---|---|
| Overall Score |  3.5/5 (Trusted) |
| Trustpilot Score |  1.5/5 (Do Not Trust) |
| Regulation | IIROC, CIPF |
| Minimum Deposit | 1,000(marginaccounts);1,000(marginaccounts);0 for cash accounts |
| Trading Platforms | Questrade Web, Questrade Mobile, MT4, MT5 |
| Range of Investments | Forex, stocks, ETFs, options, cryptocurrencies, commodities |
| Inactivity Fee | $24.95/quarter after 3 months of inactivity |
| Leverage | Up to 1:20 (forex); 1:5 (stocks) |
| Client Fund Protection | CIPF coverage up to $1 million per account |
👍👎 Pros & Cons
Questrade excels in cost-effective ETF trading and retirement planning tools, but its forex and CFD offerings are limited compared to specialized brokers like Pepperstone.
| Pros | Cons |
|---|---|
| Commission-free ETF purchases | Higher stock/option commissions vs. rivals |
| Low forex spreads (from 0.8 pips) | Limited forex/crypto pairs vs. forex brokers |
| Integrated MetaTrader 4/5 platforms | Inactivity fee for dormant accounts |
| Strong IIROC/CIPF regulation | No 24/7 customer support |
| Free advanced research tools | No copy trading or social features |
📜 Licenses
Questrade operates under Canada’s strict regulatory framework:
- IIROC (Canada): Ensures compliance with investor protection rules.
- CIPF: Protects accounts up to $1 million CAD.
| Regulator | Jurisdiction | Key Protections |
|---|---|---|
| IIROC | Canada | Audited financials, investor compensation funds |
| CIPF | Canada | $1 million coverage per account |
💼 Range of Investments
Questrade focuses on equities and ETFs but offers select forex and crypto CFDs:
| Asset Class | Available? | Details |
|---|---|---|
| Forex | ✅ Yes | 70+ pairs (majors like EUR/USD, GBP/CAD) |
| Stocks | ✅ Yes | 30,000+ North American and global equities |
| ETFs | ✅ Yes | 13,000+ ETFs (commission-free purchases) |
| Options | ✅ Yes | Equity, index, and ETF options |
| Cryptocurrencies | ✅ Yes | BTC, ETH, LTC, BCH (via CFDs) |
| Commodities | ✅ Yes | Gold, silver, oil (futures and CFDs) |
💰 Commissions & Fees
Questrade’s fee structure is tailored for cost-conscious investors:
- Stocks/ETFs: 4.95–4.95–9.95 per trade (free ETF buys).
- Forex: Spreads from 0.8 pips + 10commissionper10commissionper100k.
- Inactivity Fee: $24.95/quarter after 90 days.
| Fee Type | Details |
|---|---|
| Trading Costs | Forex: 0.8 pips + 10/10/100k; Stocks: 4.95–4.95–9.95/trade |
| Inactivity Fee | $24.95/quarter after 3 months |
| Deposit Fees | Free (bank transfer, bill payment); 10–10–50 for wire transfers |
| Withdrawal Fees | Free (EFT); 25–25–50 for wire transfers |
📱 Mobile Trading Apps
Questrade’s mobile app offers full functionality for on-the-go trading:
| Feature | Details |
|---|---|
| Platforms | Questrade Mobile (iOS/Android), MT4/MT5 Mobile |
| Compatibility | iOS 13+, Android 7.0+ |
| Key Features | Real-time quotes, advanced charting, one-click orders |
| Unique Advantage | Integrated retirement account management (RRSP, TFSA) |
🖥️ Other Trading Platforms
- Questrade Web: Browser-based platform with customizable dashboards.
- MetaTrader 4/5: Advanced forex trading with Expert Advisors.
- Questrade Edge: Desktop app for active traders (real-time data, Level 2 quotes).
🔍 Research & Analysis
Questrade provides institutional-grade tools:
- Morningstar Reports: Stock/ETF analysis and ratings.
- Trading Central: Technical indicators and chart patterns.
- Market Intelligence: Real-time news, earnings calendars.
🎓 Education
Questrade’s learning hub is ideal for Canadian investors:
- Webinars: Tax strategies, retirement planning, forex basics.
- Investorama: Free investing courses and eBooks.
- Demo Account: $50,000 virtual funds with real-time data.
🌍 Regional Restrictions
| Region/Client Type | Availability |
|---|---|
| Canada | ✅ Yes (primary market) |
| United States | ❌ Restricted (no IRS-compliant accounts) |
| International | Limited (non-resident accounts subject to approval) |
🆚 Broker Comparisons
| Feature | Questrade | Wealthsimple Trade | Interactive Brokers |
|---|---|---|---|
| Minimum Deposit | $0 (cash accounts) | $0 | $0 |
| Stock Commissions | 4.95–4.95–9.95 | $0 (Canadian stocks) | 0.0035–0.0035–0.005/share |
| Forex Spreads | 0.8 pips + commission | N/A | 0.1 pips + commission |
| Unique Edge | Free ETF buys | Zero-commission CAD stocks | Global market access |
🎯 Why Choose Questrade?
- Low-Cost ETFs: Commission-free purchases.
- Retirement Focus: RRSP, TFSA, and RESP accounts.
- Canadian Regulation: IIROC/CIPF protection.
- MetaTrader Access: Combines investing and forex trading.
✔️ Final Recommendations
Questrade is ideal for Canadian investors prioritizing long-term growth, ETF portfolios, and retirement planning. While forex traders may prefer dedicated brokers, its mix of affordability, regulation, and tools makes it a standout for DIY investors.
Ideal For: ETF investors, retirement savers, and Canadians seeking a regulated all-in-one platform.
Avoid If: You’re a high-frequency forex trader or need 24/7 support.
Overall Verdict: A top-tier Canadian brokerage for cost-effective investing, with solid forex options as a bonus.
