Questrade Review 2023

  • 9

Questrade review summary

Questrade is a Canadian online brokerage firm. Questrade has low stock and ETF fees, and offers advanced research tools including news, fundamental data and chart pattern tools. Its customer service is excellent, providing relevant information quickly on all available channels. It is a good choice for beginner investors. On the negative side, the account opening process for international clients is slow and not fully digital. There is also a high fee for wire withdrawals outside Canada. Lastly, you can hold your cash only in USD and CAD. BrokerChooser gave Questrade a 4.5/5 rating based on analyzing 500+ criteria and testing via opening a live account.

Questrade is a regulated broker, it is overseen by a top-tier financial regulator in Canada . Questrade is also covered by investor protection and it offers negative balance protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

Interactive Brokers is available in Pakistan

Questrade pros and cons

Pros Cons
Low stock and ETF fees Slow account opening for non-Canadians
Solid research tools High withdrawal fee for non-Canadians
Superb customer service Limited account base currencies

Questrade main highlights

🗺️ Country of regulationCanada
💰 Trading fees classAverage
💰 Inactivity fee chargedNo
💰 Withdrawal fee amount$0
💰 Minimum deposit$1,000
🕖 Time to open an account1 day
💳 Deposit with bank cardAvailable
👛 Depositing with electronic walletAvailable
💱 Number of base currencies supported2
🎮 Demo account providedYes
🛍️ Products offeredStock, ETF, Forex, Fund, Bond, Options, CFD

To read much more details about the broker’s services and features, expand on the sections below.

Our overall Interactive Brokers rating
  • 9

  • Fees
  • Account opening
  • Deposit and withdrawal
  • Web trading platform
  • Mobile trading platform
  • Desktop trading platform
  • Markets and products
  • Research
  • Customer service
  • Education
Questrade review


Questrade has competitive fees for stocks, ETFs, and funds. However, margin rates are at the higher end.

Pros Cons
Low non-trading fees High margin rates
Low stock and ETF fees / Free stock trading
Low fund fees
Questrade fees snapshot
AssetsFee levelFee terms
US stockLow$0.01 per share, min $4.95, max $9.95; buying ETFs is free, selling costs $0.01 per share
EURUSDAverageThe fees are built into the spread, 2 pips is the average spread cost during peak trading hours.
Mutual fundLow$9.95 per trade
Inactivity feeLowNo inactivity fee

How we ranked fees

We ranked Questrade’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let’s go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Questrade for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared Questrade’s fees with those of two similar brokers we selected, Qtrade and RBC Direct Investing. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Questrade alternatives.

To have a clear overview of Questrade, let’s start with trading fees.

Questrade trading fees

Questrade trading fees are average. The fee structure is transparent and easy to understand.

Stock fees and ETF fees

Questrade has generally low stock and ETF fees.

Questrade stock and ETF commission on a $2,000 trade
 QuestradeQtrade Direct InvestingRBC Direct Investing
US stock$5.0$8.8$7.4

Questrade charges $0.01 per share for a trade, with a minimum fee of $4.95 and a maximum of $9.95. When trading ETFs, you will be charged only for selling, otherwise the fee structure is the same as for stock trading.

If you prefer stock trading on margin, you should check Questrade’s margin rates.

Trading on margin basically means that you borrow money from your broker and can purchase more shares than you could with just the available cash in your account. You have to pay interest on this borrowed money – the interest rate is called the margin rate. It can account for a significant portion of your trading costs.

Questrade margin rates are high.

Questrade annual margin rates
 QuestradeQtrade Direct InvestingRBC Direct Investing
USD margin rate11.5%8.3%7.5%

Questrade charges a base rate and a markup for trading on margin. The markup depends on your debit balance. It is 3.75% for a debit balance below $100,000 and 2.75% if it is higher.

Forex fees

Questrade forex fees are average.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Questrade forex benchmark fee on a $20,000 30:1 long position held for one week
 QuestradeQtrade Direct InvestingRBC Direct Investing
EURUSD benchmark fee$17.2
GBPUSD benchmark fee$14.5
AUDUSD benchmark fee$15.3
EURCHF benchmark fee$10.3
EURGBP benchmark fee$15.4

Fund fees

Questrade fund fees are low compared with other brokers around the world, but high compared to other Canadian stockbrokers.

Questrade commission for a $2,000 fund purchase
 QuestradeQtrade Direct InvestingRBC Direct Investing
Mutual fund$10.0$0.0$0.0

The standard fee for mutual funds is $9.95 per trade.

Bond fees

Questrade charges no bond fees, but you must buy a minimum of $5,000 per trade.

Questrade commission of a $10,000 government bond trade
Questrade Qtrade Direct Investing RBC Direct Investing
US Treasury bond $0.0 $25.0 $18.5

Options fees

Questrade options fees are average but stock index options fees are high.

Questrade stock index options commission on 10 contracts
Questrade Qtrade Direct Investing RBC Direct Investing
US stock index options $20.0 $21.3 $16.6

Options fees are $9.95 per option, plus $1 per contract.

CFD fees

Questrade has average CFD trading fees.

To have a clear understanding of CFD fees, we calculated a CFD benchmark fee for the selected products. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Questrade CFD benchmark fees for a $2,000 long position held for one week
Questrade Qtrade Direct Investing RBC Direct Investing
S&P 500 index CFD fee $3.1
Apple CFD fee $23.0
Vodafone CFD fee $30.0

We calculated with 20:1 leverage for stock index CFDs and 5:1 leverage for single stock CFDs.

Questrade’s stock CFD fees are commission-based and have a minimum as seen in the table below:

Questrade stock CFD fees
North America
CanadaCAD 0.01 per shareCAD 9.95
USA$0.01 per share$9.95
United Kingdom0.10% of the trade value£11.95
Austria, Germany, Ireland0.10% of the trade value€11.95
Belgium, France, Netherlands, Portugal, Spain0.10% of the trade value€9.95
Denmark, Norway, Sweden0.10% of the trade valueDKK/NOK/SEK 99.95
Finland0.10% of the trade value€13.95
Switzerland0.10% of the trade valueCHF 11.95
Australia0.15% of the trade valueAUD 14.95
Hong Kong0.20% of the trade valueHKD 59.95

Non-trading fees

Questrade has generally low non-trading fees.

There is no account fee, and withdrawals via electronic transfer are also free up to CAD 50,000 or $25,000. However, wire transfers cost $20-40 depending on your residency. International clients can only use wire transfers.

Questrade charges no inactivity fee

Questrade non-trading fees
Questrade Qtrade Direct Investing RBC Direct Investing
Account fee No Yes Yes
Inactivity fee No Yes No
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0
Questrade review

Account opening

For Canadian citizens, opening an account at Questrade is easy and fully digital. However, there is a high minimum deposit of $1,000.

Pros Cons
Fast Minimum deposit is higher than $500
Fully digital Complicated for non-Canadians

Questrade is a Canadian discount broker that primarily targets Canadian clients, although its services are available to clients all over the world.

What is the minimum deposit at Questrade?

The required Questrade minimum deposit is $1,000.

Account types

Questrade offers several types of accounts. When opening an account, the options are grouped based on the products available with that account (e.g. margin or forex & CFDs) and account ownership. It’s worth keeping in mind that the main difference comes from who owns the account. This can be:

  • an individual
  • multiple individuals
  • a legal entity
Questrade account types
Account typeShort description
Margin Accounts (Individual & Joint)Accounts with leverage to invest in stocks, ETFs, options, etc. Both international and
Canadian clients can open this account.
Forex & CFD AccountAccounts focused on forex and CFD trading. Both international and Canadian clients can open
this account.
Tax-Free Savings AccountThe account does not apply taxes on any interest earned, dividends or capital gains.
Available only for Canadian clients.
Retirement Accounts (RRSP, Spousal RRSP, LIRA, Locked-In RRSP)Lower income taxes with RRSP contributions. Investments are tax-deferred until
withdrawal. Available only for Canadian clients.
Registered Education Savings Plans (RESP, Family RESP)Savings accounts for post-secondary education with government incentives and
grants. Available only for Canadian clients.
Entity Accounts (Corporate, Investment Club, Partnership, Sole Proprietorship, Trusts)Accounts to invest on behalf of your business or someone else. The funds and assets in the
account are taxed according to the corporate tax rates. Available only for Canadian

How to open your account

Opening an account as a Canadian resident is simple and fully digital:

  1. Choose an account type. Opening multiple accounts at once is possible.
  2. Provide your personal information, including country of residence, citizenship, Social Insurance Number and employment information.
  3. Review and confirm the information.
  4. Accept the terms and conditions.
  5. Transfer funds.

The account opening process takes less than 30 minutes for Canadians.

For international customers, it’s more complicated and time-consuming. After registering online and following the instructions above, you have to get in contact with a representative of Questrade to verify your documents, and then mail the documents. This whole process took us more than two weeks.

If you are opening your first account with Questrade, you can do it via Questrade Trading’s mobile app as well. You can open a self-directed TFSA, RRSP, or Margin account.

Questrade review – Account opening

Our best alternatives to Questrade are:

The highest ranking competitors are:

  1. Qtrade Direct Investing full review
  2. RBC Direct Investing full review
  3. TD Ameritrade full review
  4. Interactive Brokers full review
Questrade review

Deposit and withdrawal

Deposits and withdrawals are free and user-friendly with electronic transfer for Canadians. However, the process is expensive for non-Canadians and non-Visa debit cards are not available.

Pros Cons
Free withdrawal Slow withdrawal – over 3 days
No deposit fee High fee for wire withdrawals
User-friendly Non-Visa debit card not available

Account base currencies

At Questrade, you can choose from 2 base currencies: USD, CAD. This is in line with the offer of other Canadian competitors.

Base currencies at Questrade vs similar brokers
Questrade Qtrade Direct Investing RBC Direct Investing
Number of base currencies 2 2 2

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

Questrade does not charge a deposit fee. International clients can use only wire transfer to fund their account. 

If you are from Canada, you can use several options, many of which are free:

  • Electronic fund transfer
  • Electronic wallets (Interac Online)
  • Certified cheques
  • Visa debit card / Questrade’s instant deposit up to CAD 3,500
Questrade deposit options
Questrade Qtrade Direct Investing RBC Direct Investing
Bank transfer Yes Yes Yes
Credit/debit card Yes No No
Electronic wallets Yes No No

A bank transfer can take several business days, while payment with a credit/debit card would be instant.

You can only deposit money from accounts that are in your name.

Questrade review – Deposit and withdrawal – Deposit

Questrade withdrawal fees and options

Questrade does not charge withdrawal fees for electronic fund transfers of less than CAD 50,000 or $25,000. On the other hand, wire transfers cost $20-40 (depending on your residency). For non-Canadians, only wire transfers are available.

Questrade withdrawal fees and options
Questrade Qtrade Direct Investing RBC Direct Investing
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets Yes No No
Withdrawal fee $0 $0 $0

Here’s a breakdown of withdrawal options and related charges. 

Details of Questrade withdrawal and transfer fees

Withdrawal method Withdrawal fee
CAD electronic fund transfer up to $50,000 No fee
USD electronic fund transfer up to $25,000 No fee
CAD transfer $20
USD transfer $30
International wire transfer $40
CAD and USD uncertified cheque $50
Certified cheque $75
Stop payment $25
NSF cheque/returned items $30
Transfer out an account to another institution $150
Partial transfer of an account to another institution $25
Estate settlement $250/account

How long does it take to withdraw money from Questrade? We tested the bank transfer withdrawal and it took more than 3 business days.

How do you withdraw money from Questrade?

  1. Log in to your account.
  2. Move your cursor over ‘Accounts’ to open the drop-down menu.
  3. Click on ‘Accounts’.
  4. Move your cursor over ‘Requests’.
  5. Click on ‘Withdraw funds’.
  6. Choose the account to withdraw from, the amount, currency and method.
  7. Initiate the withdrawal.
Questrade review

Web trading platform

Questrade’s web trading platform offers a simple, intuitive design, a wide variety of order types and price alerts. However, its customizability is limited and the fee reports are not clear.

Pros Cons
User-friendly No clear fee report available
Good variety of order types Limited customizability (for charts, workspace)
Price alerts
Questrade platforms to choose from
Trading platformScoreAvailable

Questrade offers three trading platforms that differ in the products available and the devices they are offered for. See the table below for details.

Questrade trading platforms
 Questrade TradingIQ EdgeQuestrade Global
Best forInvestors looking for easy execution of tradesTraders looking for sophisticated researchFX and CFD traders looking for an easy trading platform
Tradeable productsStocks, ETFs, mutual funds, optionsStocks, ETFs, optionsForex, CFD
Web trading platformYesNoYes
Mobile trading platformYesNoYes
Desktop trading platformNoYesYes

We reviewed Questrade Trading in this section. 

Look and feel

Available in English only, Questrade’s web trading platform is user-friendly and has a simple yet elegant design. Maybe as a result of its simplicity, it offers limited customizability, especially compared to Questrade’s highly customizable desktop trading platform.

Questrade review – Web trading platform

Login and security

Questrade provides a secure two-step login process. It doesn’t require you to enter the security code every time, which is convenient, but if you log in from a new computer you need to enter a generated code sent to your phone or by email.

When you log in to a device for the first time, you have to answer a security question. On successive logins, the accounts can be accessed with the basic login ID and password combination.

Search functions

The search function is basic. You can search by using a company name or an asset ticker.

Search results are not always relevant: when searching for Apple stocks, they only appeared lower on the list of results.

Questrade review – Web trading platform – Search

Placing orders

You can use the following order types:

  • Market
  • Limit
  • Stop-loss
  • Stop-limit
  • Trailing stop
  • Trailing stop-limit
  • Limit on open order
  • Limit on close order

If you are not familiar with the basic order types, read this overview.

There are also order time limits you can use:

  • Good ‘till date (GTD)
  • Good ‘till canceled (GTC)
  • Day
  • Good ‘till extended market (GTEM)
  • Fill or kill (FOK)
  • Immediate or cancel (IOC)

Questrade review – Web trading platform – Order panel

Alerts and notifications

Setting alerts at Questrade Trading is extremely user-friendly and there are several advanced options: you can set price and trading volume alerts and combine them with various equations. The alerts can be received on multiple email addresses and SMS as well.

Portfolio and fee reports

Questrade provides a clear, easy-to-read portfolio report. However, there is no clear fee report showing how much commission you paid to the broker.

The reports can be found in the ‘Account’ section on the opening page. It’s unclear whether they can be downloaded.

Questrade review

Mobile trading platform

The Questrade mobile trading platform is great. It is user-friendly and well-designed.

Pros Cons
User-friendly None
Two-step (safer) login
Good variety of order types

This table shows the mobile trading platforms that are available at Questrade. If you want to open a self-directed TFSA, RRSP or Margin account, you can do it through the app, provided it is your first account at Questrade.

In this review, we tested Questrade Trading’s mobile app. It is available both for iOS and Android. We tested it on Android.

In functionality and design it is the same as the web trading platform. It offers the same order types and has similar search functions. Price alerts are shared across devices, so if you create an alert on the web platform you can see and edit it in the app as well, which is very convenient. One small negative is the lack of push notifications, as even from the app you can only set email and text message alerts.

Questrade review – Mobile trading platform

Questrade review

Desktop trading platform

IQ Edge is Questrade’s most advanced trading platform by far. It is user-friendly and highly customizable, with a great variety of order types. However, there is no fee report available.

Pros Cons
User-friendly No clear fee report available
Good customizability (for charts, workspace)
Good variety of order types

Questrade’s desktop trading platform, IQ Edge is recommended for more advanced traders. It offers more complex order types, a highly customizable interface and a wider variety of features overall than Questrade’s other platforms.

The desktop trading platform is available for both Windows and macOS in English.

Look and feel

The Questrade desktop trading platform is well-designed and highly customizable. It is easy to change the tab sizes and positions.

Questrade review – Desktop trading platform

Login and security

Questrade’s desktop platform requires two-step verification.

Search functions

The search functions are OK. On the plus side, you can find the assets by typing the company name or the asset ticker, but the search results are not always the most relevant.

Questrade review – Desktop trading platform – Search

Placing orders

Besides the order types and order time limits available on the web trading platform, you can add conditional orders and bracket order.

Placing orders on IQ Edge is simple and quick as the ‘Order’ button is readily available on the front page.

Questrade review – Desktop trading platform – Order panel

Alerts and notifications

You can easily set alerts by clicking on ‘Alerts’.

Similar to the web trading platform, you can set price and trading volume alerts. You can choose if you want to get a notification as a pop-up message, audio alert, or via SMS or email.

Portfolio and fee reports

Questrade’s desktop trading platform does not have any portfolio and fee reports: these can only be accessed in the mobile app or on the web platform.

Questrade review

Markets and products

At Questrade, you can trade almost all asset classes except futures and cryptos. The product portfolio covers only the US and Canadian markets, though.

Questrade product selection
Questrade Qtrade Direct Investing RBC Direct Investing
Stocks Yes Yes Yes
ETFs Yes Yes Yes
Forex Yes No No
Funds Yes Yes Yes
Bonds Yes Yes Yes
Options Yes Yes Yes
Futures No No No
CFDs Yes No No
Crypto No No No

Questrade’s list of available asset classes is impressive. However, the variety of specific products within some asset classes is more limited.

Stocks and ETFs

Questrade stock and ETF selection
Questrade Qtrade Direct Investing RBC Direct Investing
Stock markets (#) 8 7 5
ETFs (#) 1,800 3,100 3,100

Even though Questrade is a Canadian broker, it gives access to all major North American exchanges. It is perfect if you focus exclusively on the North American market, as you can trade on the following stock exchanges:

Available exchanges at Questrade


Questrade forex selection
Questrade Qtrade Direct Investing RBC Direct Investing
Currency pairs (#) 116

Questrade’s forex selection includes all of the most common currency pairs, plus a few exotic pairs as well.


Questrade mutual fund selection
Questrade Qtrade Direct Investing RBC Direct Investing
Fund providers (#) 145 140 83

Questrade offers a competitive number of mutual funds compared with its peers.


Questrade bond selection
Questrade Qtrade Direct Investing RBC Direct Investing
Bonds (#) 1,500 1,800 1,000

Questrade offers bonds in various categories, such as municipal bonds, corporate bonds and provincial bonds. It is an ideal selection for investors looking for Canadian fixed-income securities.


Questrade options selection
Questrade Qtrade Direct Investing RBC Direct Investing
Options markets (#) 6 2 2

The number of available options markets at Questrade is below average compared with most brokers, but relatively competitive compared with other Canadian brokers.

In Canada, you can buy and sell options on the Toronto Stock Exchange. In the US, the following options markets are available: BATS, NASDAQ, NYSE AM (AMEX) and NYSE ARCA (ARCA). It’s also possible to trade OTC options in the US.


Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Questrade CFD selection
Questrade Qtrade Direct Investing RBC Direct Investing
Stock index CFDs (#) 16
Stock CFDs (#) 8,800
ETF CFDs (#)
Commodity CFDs (#) 1
Bond CFDs (#))
Futures CFDs (#)


If you are Canadian, can also invest in Questwealth Portfolios. This is a robo-advisory service that automatically manages your investments based on your investment goals. The pricing of Questwealth Portfolios are based on the asset value:

  • 0.25% annual fees for balance between CAD 1,000 and CAD 99,000
  • 0.20% annual fees for balance above CAD 100,000

We liked that you can choose among Socially Responsible portfolios as well.

We think Questwealth Portfolios are great for you if you don’t want to manage your investments yourself. There are some other robos on the market, if you are interested check out our reviews here.

Questrade review


Questrade offers a vast array of research tools. From news and fundamental data to a chart pattern tool, you will find everything you need to trade.

Pros Cons
Good interactive chart Live data only available for paid subscription
Trading ideas
Data on asset fundamentals

Questrade offers the following in-depth research tools: 

  • Questrade Trading: the web trading platform 
  • IQ Edge: the desktop trading platform
  • Market Intelligence: a fundamental research tool
  • Intraday Trader: a pattern recognition tool

Trading ideas

On the web trading platform (Questrade Trading) you will find a wide range of analyses, powered by Morningstar.

Fundamental data

There’s a separate section for fundamental data under the ‘Research’ menu. Here you can find information on daily events, although it would be better if we could access the reports directly on the platform. Market Intelligence is a fundamental research tool that delivers a lot of information. You will find company and sector analyses, annual and quarterly financial statements, filings and an insider trading overview.

Questrade offers four Market Data Packages that provide information on the North American markets. The following packages are available for purchase at Questrade: Basic, Enhanced, Advanced US and Advanced Canadian.

At the IPO Centre, Questrade clients can subscribe to the firm’s IPO Bulletin for information on the latest IPOs and secondary offerings.



Questrade review – Research – Fundamental data


Even though every Questrade platform (web, mobile, desktop) offers a charting tool, we tested the charting tools on the desktop trading platform because it is the most advanced. 

We found that the charting tools are simple, elegant and highly customizable. There are 30 technical indicators that you can, which might be enough for an average trader but is lower than what you can find at other competitors.

Questrade also offers Intraday Trader, a pattern recognition tool that is available if you are a subscriber of the Enhanced or Advanced Data packages.

Questrade review – Research – Charting

News feed

News feeds are available and customizable on every Questrade trading platform.

They are updated in real-time and easy to read on the front page of each application. Additionally, there is an option to watch videos on the desktop platform, which is a very unique feature.

Other research tools you may enjoy

Questrade’s desktop trading platform offers a wide range of other tools, of which here are some top picks:

  • You can use a screener with an increased number of filters and products to choose from.
  • There is also a tool called P&L calculator. This is for advanced traders, and calculates probabilities based on your inputs, like price, volatility, options strategy, etc.
  • We also liked the integration of StockTwits, an app that is like Twitter for traders.

Lastly, if you prefer API trading, Questrade offers its API service in C++ and C#.

Questrade review

Customer service

Questrade has great customer service, with polite staff that gave detailed answers quickly on all available channels. However, support is unfortunately not available 24/7.

Pros Cons
Phone support No 24/7 support
Live chat
Fast response time

You can contact Questrade via:

  • live chat
  • phone
  • email

The live chat service is very fast, they provide information almost immediately. When starting a chat you have to answer a few questions first, which is a minor inconvenience. However, note that you can only access the live chat if you give a Canadian phone number.

Questrade’s phone support was fast and they gave useful answers. As no international phone numbers are available, you need to dial a Canadian number even if you are not from Canada. The waiting time was mixed: on some occasions we needed to wait longer, while at other times a representative answered almost immediately.

Questrade replied quickly to emails as well. The response time was only a few hours, which is great.

On the downside, customer service is not available 24/7: live chat and phone support is available on weekdays only.

Questrade review – Customer Service

Questrade review


Questrade offers an adequate amount of educational and tutorial materials for both novice and advanced traders. However, the educational section could be more structured.

Pros Cons
Demo account Educational section is hard to navigate
Trading platform tutorial
Educational videos

At Questrade you can learn in the following ways:

  • Demo account
  • Platform tutorial videos
  • General educational videos
  • Quality educational articles
  • Webinars

By far the most useful educational tool Questrade offers is the demo account for each of its platforms. Using these, you can simulate investing and trading, even before depositing funds.

Educational materials are found in the ‘Resources’ section on the Questrade website. You can read blog posts on investing, register for on-demand webinars and search for information in the ‘Help & How-to’ section. Finding answers to generic questions using the search function is fairly simple. Information is available on various topics, such as order types, how to install IQ Edge, and funding.

Webinars are also available in the learning center. You can register and watch them in 8 topics on various investment themes (e.g. dividend investing).

Questrade’s YouTube channel is another useful source of educational content. It provides videos on basics like products and services or specific topics, such as single and multi-leg orders. The quality of the videos is good but it would be great if more content was available on different assets and strategies.

Questrade review – Education

Questrade review


Questrade is regulated by a top-tier Canadian authority, and offers investor protection for a high amount. Unfortunately, there is no negative balance protection.

Pros Cons
Majority of clients belong to a top-tier financial authority No negative balance protection
High level of investor protection Does not hold a banking license
CAD 10 million per account additional insurance Not listed on stock exchange

Is Questrade regulated?

Yes, it is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF).

Questrade is based in Canada and was founded in 1999.

Is Questrade safe?

To be certain if a brokerage is safe, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

This is important for you, because the investor protection amount and the regulator differ according to the legal entity you belong to. However, this is not an issue with Questrade, as all customers are covered by Questrade, Inc., which is a member of CIPF. This means that you are eligible for the CAD 1 million coverage offered by CIPF. 

On top of this, each account is covered by additional insurance up to CAD 10 million. This is a great service, as most other brokers don’t provide such a high level of insurance.

Questrade investor protection
Country of clientsProtection amountRegulatorLegal entity
All countriesCAD 1 millionIIROCQuestrade, Inc.

Questrade does not provide negative balance protection.


Questrade is a Canadian private company established in 1999. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

On the negative side, the amount of financial information available on Questrade is quite limited compared with other brokers.

Being regulated by a top-tier authority, offering high investor protection and insurance, and having been in operation for a long time are all great signs for Questrade’s safety.

Questrade review

Bottom line

Questrade is among the fastest-growing online brokerage firms in Canada. Its stock and ETF fees are low, research tools are advanced and customer service is outstanding.

Questrade has some shortcomings as well. Even though the account opening process for Canadians is quick and easy, it’s slow and time-consuming if you are not Canadian. You can face high withdrawal fees if you are not a Canadian citizen and there are only USD and CAD as account base currencies.

Since Questrade has advanced research tools and offers great customer service, feel free to give it a try.

Questrade review


We recommend Questrade for traders and investors focusing on the canadian and us markets.

Below you can find links to all aspects of Questrade in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Questrade fees article.

What about the minimum deposit?

Our ultimate guide to the Questrade minimum deposit is updated regularly.

How to start your Questrade account?

Look no further than our evaluation of the Questrade account opening.

How’s their trading app?

Here’s our expert view after checking the Questrade trading app.

Is the quality of customer service satisfactory?

All you need to know about the Questrade customer service.

Legit or scam?

Is Questrade legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Questrade is really free.

Is this broker good for beginners?

We checked it in Is Questrade good for beginners.

Should you buy your silver bullets on Questrade?

Research for silver bugs in the Silver buy on Questrade guide

I want to trade options, are they available at Questrade?

We explored the topic in Can you trade options on Questrade?

What is the minimum account balance at Questrade?

Check out the current account balance requirements at Questrade in our What is the minimum account balance at Questrade article.

Looking for commission and fees data for Questrade?

We collected them in Questrade commission and fees.

How do you withdraw money from Questrade?

We tested it and collected the options and costs in How to withdraw money on Questrade.

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