Questrade Review 2026 — Account, Fees & Rates
Our Verdict
Questrade is the benchmark online broker in Canada for self-directed investors: fees among the lowest on the market, CIPF protection up to $1M and a complete product range, despite French-language support that could be improved.
With commission-free ETF purchases and stock trading fees capped at $9.95, Questrade offers a pricing structure that is hard to beat for long-term investors. CIPF protection up to $1M per account category far exceeds the CDIC limit of $100K, making it one of the best-protected platforms in the Canadian market. The well-rated mobile app (4.5/5 on the App Store) and IQ Edge for active traders cover a broad spectrum of users. The main weak point remains customer support: wait times lengthen during periods of volatility and service in French remains insufficient for unilingual Quebec investors. The lack of direct crypto and the 1.99% USD conversion fee are notable shortcomings compared with competitors such as Wealthsimple Trade.
Fee Comparison Table
ETF purchases are free; Canadian and U.S. stocks are charged $0.01/share (min $4.95, max $9.95) and options $9.95 + $1/contract. No annual custody fee is charged on registered accounts, but the 1.99% USD conversion spread can represent a significant cost for investors active in foreign currencies.
Detailed Scores
| Criterion | Score | Weight | Comment |
|---|---|---|---|
| Deposit insurance & regulatory compliance | 9/10 | 15 % | CIRO member (formerly IIROC) — strict federal regulation. CIPF (Canadian Investor Protection Fund): coverage up to $1M per account category (TFSA, RRSP, non-registered account separately). Questrade Inc. excludes cash deposits from the CDIC program (it is not a bank), but CIPF protection is superior to the CDIC limit of $100K for securities. |
| Mobile & web app experience | 8/10 | 15 % | Mobile app: 4.5/5 on the App Store (50K+ reviews), clear interface for self-directed investors. IQ Edge (desktop): advanced dashboard, free level 1 real-time quotes. Some delays reported on account access during intense market opens. Questrade Global (multi-asset) in beta. |
| Complementary products & services | 9/10 | 10 % | Canadian/U.S. stocks, ETFs, bonds, GICs, mutual funds, options, futures (via IQ Edge). Integrated Questwealth Portfolios (robo-advisor). Questrade Global: access to international markets. Multiple registered accounts (TFSA, RRSP, RESP, RRIF, LIRA). No direct crypto — gap vs Wealthsimple Trade. |
| Security & fraud protection | 8/10 | 10 % | Two-factor authentication (2FA) mandatory since 2024. 256-bit TLS encryption. CIRO compliance + annual audits. Additional cybersecurity insurance taken out by Questrade Inc. No major security incident reported in the last 3 years. |
| Customer support | 6/10 | 10 % | Live chat, email and phone support available. Limited French-language support — majority of agents are English-speaking. Wait times increasing during periods of high volatility (spring 2025). Well-stocked online help centre, tutorial videos. No dedicated advisor on standard accounts. |
| Pricing & fees | 8/10 | 20 % | Free ETF purchases (0 commission). Canadian/U.S. stocks: $0.01/share, min $4.95, max $9.95. Options: $9.95 + $1/contract. USD conversion fee: 1.99% spread (penalizes investors active in foreign currencies). No annual custody fee on TFSA/RRSP/RESP/RRIF. |
| Interest rate & yield | 7/10 | 15 % | TFSA, RRSP, RESP, RRIF, LIRA, non-registered account available. TFSA Savings Account: rate ~3-4% depending on market conditions. No integrated chequing account — deposits via bank transfer only. Questwealth (robo-advisor): diversified ETF portfolios, fees 0.20-0.25%. |
| Transparency & governance | 7/10 | 5 % | Fee schedule published unambiguously on questrade.com. USD conversion fee (1.99%) less visible at account opening — details in the terms and conditions. Questwealth: fee ratio clearly displayed 0.20-0.25%. T3 and T5 tax reports provided. Monthly online statements. Conflict of interest disclosure compliant with AMF. |
Strengths
- Commission-free ETF purchases — ideal for long-term passive investment strategies
- CIPF protection up to $1M per account category, far above the CDIC limit of $100K
- CIRO member with mandatory 2FA since 2024 and 256-bit TLS encryption — robust security
- Extensive product range: stocks, ETFs, bonds, GICs, options, futures, integrated robo-advisor
- No annual custody fee on TFSA, RRSP, RESP and RRIF
- Well-rated mobile app (4.5/5, 50K+ reviews) and IQ Edge for advanced profiles
Weaknesses
- Limited French-language customer support and longer wait times during periods of high market volatility
- 1.99% USD conversion spread, not prominently disclosed at account opening
- No direct exposure to cryptocurrencies, unlike Wealthsimple Trade
- No integrated chequing account: deposits must go through an external bank transfer
Who Is It For?
- Canadian self-directed investors who regularly buy ETFs and want to minimize their transaction fees
- Savers using registered accounts (TFSA, RRSP, RESP, RRIF) who want high protection for their assets
- Intermediate investors looking for an advanced desktop platform (IQ Edge) with free real-time quotes
- Beginners wishing to delegate management through Questwealth Portfolios (robo-advisor) at low fees (0.20-0.25%)
- Active investors in options and futures looking for multi-asset access on a single platform
Not Ideal For…
- Unilingual French-speaking investors requiring quality customer support in French
- Active traders in foreign currencies penalized by the 1.99% USD conversion spread
- Investors wishing to buy cryptocurrencies directly from their broker
- Clients looking for an integrated chequing account or complete banking services in one place
Alternatives
- Wealthsimple Trade — Offers access to cryptocurrencies, a fully French-language interface and zero fees on ETFs and Canadian stocks in the basic version.
- Banque Nationale Courtage direct — Ideal for French-speaking Quebec investors who prioritize quality French-language customer support and integration with their existing bank accounts.
- Interactive Brokers Canada — Recommended for active traders and international investors who want ultra-competitive currency conversion fees and access to global markets without Questrade's limitations.
How this review was conducted
This review is a documentary assessment. It is based on Questrade's public interface, its published pricing and publicly available information, as recorded on 2026-06-02. No field test was carried out: no subscription, no purchase and no exchange with customer support took place. Pricing and terms change: check them on Questrade's own site before you decide.
The evaluation was conducted by the editorial team on the basis of an in-depth analysis of pricing conditions, regulatory documentation, user reviews (App Store, specialized forums) and the platform's technical characteristics. Each criterion was scored using a standardized grid covering eight key dimensions, from security to fee transparency. No period of testing under real trading conditions was carried out, which explains why certain observations about wait times and support are based on third-party user feedback.
Depending on the institution, this product falls under federal regulation (OSFI) or under that of Quebec's Autorité des marchés financiers (AMF). See our AMF disclosure page for more information.
Pricing information is indicative — verify current terms on the provider's website before subscribing. Affiliate disclosure.
