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Mailing Address
Suite 1920, One Bentall Centre
505 Burrard Street, Box 85
Vancouver, BC
V7X 1M6
Website: https://www.qtrade.ca/
Email Address:info@qtrade.ca
Phone: 1-877-787-2330
Customer Service Hours: Mon to Fri 5:30 am to 5:00 pm PT
Qtrade Investor Review
Updated on: Feb. 8, 2019
Qtrade Investor – a division of Qtrade Financial Group – is an independent (non-bank owned) online brokerage headquartered out of Vancouver, British Columbia. Despite their smaller size, Qtrade has formed partnerships with many financial institutions, credit unions in particular, in order to provide online brokerage services to their partners’ clients. Early in 2013, Desjardins (parent to Desjardins Online Brokerage/Disnat) acquired a significant ownership portion in Qtrade.
As with their discount brokerage peers, Qtrade Investor allows clients to trade stocks, ETFs, mutual funds and options. Qtrade is part of a small group of online brokerages that offers commission-free ETF trading on select ETFs. Click here for a detailed review of their commission-free ETFs.
Quick Info
| Standard Equity Commission | $8.75 |
| Best Commission Price | $6.95 |
| Minimum to Open Account | $0 |
| Maintenance/Inactivity Fees | $25/quarter |
| Commission Free ETF | Yes |
| Account Types Offered | Funding Requirements and Fees | Registered Account Types and Fees | ||||
|---|---|---|---|---|---|---|
| TFSA |  | Minimum Opening Balance | Not required | TFSA | Annual Charge | $0 |
| RRSP | | Minimum Account Balance | $1,000 | Transfer Out | $150 | |
| RESP | | Minimum Balance for Best or Discounted Commission | $500,000 | Withdrawals | $0 | |
| Cash | | Minimum Commission per Equity Trade | $6.95 | US Dollar Account |  $60/Year |
|
| Margin Short | | Standard Commission per Equity Trade | $8.75 | RRSP | Annual Charge | $100 (if assets<$25,000) |
| Margin Options | | Minimum Trades per Quarter for Best Commission Rate | 150 | Transfer Out | $150 | |
| CIPF Member | | Inactivity or Maintenance Fees | $25/quarter | US Dollar Account | $60/Year |
|
| Conditions for Inactivity/Maintenance Fees | No fees if 2 trades per quarter or at least $25,000 in assets or preauthorized deposits of at least $100 per month are made. | RESP | Annual Charge | $100 (if assets<$25,000) | ||
| Transfer Out | $150 | |||||
| US Dollar Account |  |
|||||
| Last updated: Nov. 12, 2017 | ||||||
Pricing & Fees
For the “investor” pricing tier, equity commissions are $8.75 per trade and options trades are $8.75 + $1.25 per contract. The next commission pricing tier, “investor plus” offers clients equity commission fees of $6.95 per trade, however to be eligible for this pricing clients must either trade 150 (or more) times per quarter or have at least $500,000 in assets with Qtrade.
While they have reduced commission fees, Qtrade Investor has introduced administration fees of $25 per quarter for clients with combined Qtrade account balances under $25,000. Fortunately, the fee may be waived by placing at least 2 commission generating trades per quarter.
The fees for US dollar accounts has increased from $50 per year to $60 per year ($15/quarter) and the fee structure for registered accounts has also changed: the minimum threshold to avoid administration fee is now $25,000 (combined across all accounts) and the amount of the administration fee is now $100 per year.
Account Types
Qtrade offers self-directed investors two main categories of online trading accounts – “Investment Accounts” and “Self-Directed Registered Plans”.
The “Investment Accounts” consist of cash accounts and margin accounts, both which can be in either Canadian or US dollars.
The “Self-Directed Registered Plans” include tax-free savings accounts (TFSAs), registered retirement savings plans (RRSPs) and registered education savings plans (RESPs).
In both categories of account, individuals are able to trade stocks, bonds, mutual funds and options. Like other Canadian online brokerages, there are some restrictions. Short selling and complex options trading are only allowed in margin accounts and there are limitations on options trading in registered accounts.
Platform/Data
Reviews & Ratings
| Review | What Review Measures | Score | Date of Ranking |
|---|---|---|---|
| Dalbar Canada Review | Client Service | Below Average Below Average |
January 2015 January 2014 |
| Globe and Mail Review | Overall Impression | Letter Grade “A-” Letter Grade “A” Letter Grade “A” 1st out of 12 Letter Grade “A-” 2nd out of 12 Letter Grade “A” 1st out of 12 Letter Grade “B+” |
February 2019 February 2018 December 2016 December 2016 December 2015 December 2015 November 2014 November 2014 November 2013 |
| JD Power Review | Investor Satisfaction | 2nd out of 10 10th out of 10 8th out of 10 Not Rated 5th out of 11 |
September 2017 September 2016 September 2015 September 2014 September 2013 |
| MoneySense | User Experience Fees & Commissions Reporting & Record Keeping Market Data Best Overall |
Runner Up Runner Up Runner Up Runner Up Top Pick |
July 2017 July 2017 July 2017 July 2017 July 2017 |
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Home › Community › Canadian Online Brokerage Review – Qtrade Investor
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