Questrade review

Risk warning: Leveraged CFD trading can magnify losses. Questrade does not offer negative balance protection, so margin losses may leave you liable for a deficit.

Questrade is best suited to Canadian self-directed investors building stock and ETF portfolios, including through registered accounts. Its $0 online stock and ETF commissions and range of account types are the clearest fit for hands-on investing. The headline price does not cover every cost: currency conversion, options charges and financing on eligible leveraged positions can still affect returns. Traders who need native copy trading or personal API-based order execution will find a material limitation. The account, product and platform details below show where those trade-offs matter.

How we reviewed it: This review assesses Questrade’s documented regulatory, account, pricing, platform and product terms; it does not report live execution or withdrawal tests. See our review methodology.

For Canadian clients, Questrade, Inc. is identified as the investment dealer regulated by CIRO. Saxo Bank A/S is separately identified as issuer and liquidity provider for FX/CFD products. Eligible property missing after the failure of a CIPF-member Canadian investment dealer may qualify for protection, generally up to C$1 million per applicable account category; this does not reimburse market losses. Questrade does not offer negative balance protection.

Regulation and Client Protections

Segregation and investor compensation address specific custody or insolvency circumstances, not losses from falling markets. CIPF eligibility depends on the member and account category.

For investors focused on stocks and ETFs, $0 online commissions make the pricing straightforward, but the overall cost depends on what else you trade and whether you need currency conversion. Options, mutual funds and leveraged positions carry separate charges, so the headline commission is most relevant to ordinary stock and ETF orders.

Spreads, Commissions and Total Trading Costs

Questrade lists online Canadian- and U.S.-listed stock and ETF trades at no commission. Options have a per-contract charge, while mutual-fund trades have a stated flat commission. No verified account-level EUR/USD spread data is available here, so a spread comparison would not be meaningful.

Other Trading and Non-Trading Fees

Currency conversion is a material cost when account cash and transaction currencies differ: Questrade lists a 1.5% fee included in the applied rate. For leveraged FX and CFD positions, rollover financing can add to or offset costs depending on the instrument and position. These charges are separate from the commission-free stock and ETF trades.

Cash and registered accounts—FHSA, LIRA, RESP, RRSP and TFSA—are described as unleveraged, making them the relevant choices for investors who do not want to borrow to buy securities. Margin is the option for eligible clients seeking borrowing, but the amount available depends on both the security and client eligibility. Questrade describes CAD $1,000 as required before a first purchase, although an account can be opened without an immediate deposit. The choice is therefore principally between an unleveraged account for investing and a margin account where borrowing is permitted.

For everyday account management, QuestMobile is the mobile option; Questrade Edge is positioned for more active, hands-on order placement and analysis. Questrade Global covers its specialised global-markets product across web, desktop and mobile. TradingView adds charting, strategy testing and alerts, but a signal or tested strategy is not the same as automated order execution. The documented connection is not a general-purpose programmable trading API.

Desktop, Web and Trading Platforms

Traders who rely on automation should distinguish chart-based strategy work from a platform that can execute orders programmatically; the documented tools establish the former, not a built-in bot environment.

The product range combines direct investments with leveraged derivatives, so access to a market does not always mean buying the underlying asset. Which instruments and margin terms are available depends on the product and account.

Direct shares and ETFs represent ownership of the underlying securities; a CFD instead provides exposure to price movements without making the holder a shareholder or ETF owner. That distinction is central when choosing between investing and leveraged trading.

For market preparation, Questrade lists an economic calendar, charts, screeners and a trading calculator; its Learning Centre covers investing and platform topics. Questrade Edge adds customizable charts, bracket and conditional orders, multi-leg options orders and TipRanks research, combining analysis with tools for hands-on order management. The API supports viewing data, but retail users generally cannot place trades through their own program; approved partner integrations may support order placement. Questrade does not natively offer social or copy trading. News trading is permitted, although market orders can be exposed to slippage when liquidity is weak or prices move quickly. No live execution testing is claimed here.

An account may be opened without an immediate deposit, but CAD $1,000 is described as required before making a first purchase.

Account Opening and Identity Verification

Questrade requires Know Your Customer verification. The stated documents and details include government-issued identification, proof of address, personal contact details, a Social Insurance Number, employment status and basic income estimates. The broker says review and approval typically take one to two business days after submission.

Deposit and Withdrawal Methods

Customer Support

Support is available by live chat, phone, email and self-serve resources, in English and French. Listed hours are Monday to Friday, 07:30–20:00 ET, and Saturday to Sunday, 10:00–16:00 ET. No support-contact test is claimed.

The key account decision is whether you want an unleveraged route for direct investing or margin access for eligible securities. Cash and registered accounts support the former; margin borrowing is security- and eligibility-dependent, while FX/CFD trading introduces leveraged exposure rather than ownership of the underlying asset.

Questrade vs Alternatives

Skilling1:500Maximum leverageDetailed Review Capital.com

• No withdrawal fee

Detailed Review Charles Schwab (formerly TD Ameritrade)Stocks, ETFs, Options, Futures, Bonds, Forex PairsDetailed Review ACY SecuritiesASIC, FSCA, SVGDetailed Review

If placing orders through your own program is essential, Questrade is a poor fit for retail users; its documented API limitation matters more than the availability of chart alerts or strategy testing.