Canadian Online Discount Broker – Questrade

Canadian Discount Broker - Questrade

Contact Information

Phone: 1-888-783-7866




5650 Yonge Street, Suite 1700
Toronto, Ontario M2M 4G3

Customer Service Hours of Operation:
Mon to Fri 7:30 a.m. to 10 p.m. ET

Questrade – Review of Pricing

(updated Sept. 24/13)

Established in 1999, Questrade has been working actively to position itself as a leading Canadian discount brokerage of choice for value conscious investors and traders.  Always on the forefront of innovative products, Questrade was the first Canadian discount broker to have a US Dollar RSP.

For the Canadian online investor, Questrade offers the ability to trade stocks, ETFs, mutual funds, options, currencies, bonds and gold bullion. The registered accounts offered by Questrade include tax-free savings accounts (TFSAs), registered retirement savings plans (RRSPs) and registered education savings plans (RESPs). For registered accounts you cannot use margin or short stocks. Trading options in registered accounts is limited to buying and selling of options as well as writing covered calls.  Non-registered accounts include cash and margin accounts.

Questrade’s pricing structure does not place trading minimums or deposit minimums to get a preferred rate for stock trading commissions.  For infrequent investors or traders, or those who do not have a lot to invest, this is the most economical option.  Frequent stock traders, on the other hand, need to control their costs and so commission pricing is something to consider when looking at Questrade, especially when looking at trade volumes exceeding 495 shares per order.  For “penny stock” traders or investors, however, $9.95 per transaction as a ceiling price can be a good deal for high volume orders. Also keep in mind that ECN fees (which are analogous to toll booth fees) are an extra cost for those high volume or high dollar value transactions. Trades can be placed on the TSX, TSX Venture and the major US exchanges for no additional cost using the Questrader Web platform.

Overall Questrade is definitely worth considering for those who want to have a discount brokerage account but do not trade frequently, those who don’t have more than $10 000 in assets to open an account and those who actively trade penny stocks.  Their no fee registered accounts as well as the US dollar RSP and TFSA’s are among the most competitive offerings available amongst the Canadian online discount brokers.

Account Types OfferedFunding Requirements and Fees Registered Account Types and Fees
TFSAMinimum Opening Balance$1,000 TFSAAnnual Charge$0
RRSPMinimum Account Balance$250Transfer Out$150 (Full)
$25 (Partial)
RESPMinimum Balance for Best or Discounted CommissionNot RequiredWithdrawals$0
CashMinimum Commission per Equity Trade$0.01/share:
$0.01 (min) on Advantage plan
$4.95 on Standard plan
US Dollar Account
Margin ShortMaximum Commission per Equity Trade*$6.95 (on Advantage Plan)
$9.95 (on Standard Plan)
RRSPAnnual Charge$0
Margin Options (options available in Cash account)Minimum Trades per Quarter for Best Commission RateNot RequiredTransfer Out$150 (Full)
$25 (Partial)
CIPF MemberInactivity or Maintenance Fees24.95/quarterUS Dollar Account
Conditions for Inactivity/Maintenance Feesif account balance (combined equity across all accounts) <$5000, you must make at least 1 trade per quarter. Fee waived for clients <25 years of age, charitable organizations or those with level 1 data package.RESPAnnual Charge$0
Transfer Out$150 (Full)
$25 (Partial)
US Dollar Account
Last updated: Mar. 9, 2016

Questrade Website Links:

Here are some useful links directly to important information on Questrade’s website.

Discount Broker Customer Survey Ratings by J.D. Power:
Link to 2013 online broker ratings by the Globe and Mail:

More Online Broker Profiles

Click on a logo below to see another broker profile

Leave a Reply

Your email address will not be published. Required fields are marked *