Questrade Review

Donny Gamble
January 14, 2022
Personalincome rating

Questrade is the best option for Canadians to invest in the stock market, but unfortunately, US/Canadian dual-citizens aren’t eligible if you spend half of your time in the United States.

International accounts are starting to roll out, but none of it can be done digitally (not yet, at least).

Questrade logo
on Questrade's website
min. $4.95 to max. $9.95
per trade

Open an account and get 5 commission-free trades.

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The information provided on this page does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual.

Key Takeaways

Questrade is good, but not the end-all be-all stock broker app. While there are fewer selections for Canadians when it comes to stock trading apps and services, Questrade still does their best to punch up and do better than they did last week.

Having a business like that behind the platform you trade on is nice.

Pros & Cons

  • Ultra Fast Responsive Website and App
  • Great, Clean UI
  • Plenty of Options
  • Superior Customer Service
  • Less Market Data Available
  • Pricing Isn’t Low-Budget Friendly

Questrade is Canada’s biggest stock trading app and stock broker service, but what does it actually provide for its residents? Can it really match up to its competitors?

There’s a smaller market in Canada, but just as much cutthroat business, so platforms need to stay afloat by pulling the zero commission card just like a lot of popular U.S. platforms have.

Now it’s time to put their stats to the test and see how much value they actually offer you, the investor. Let’s take a look at this stock trading app.

About Questrade

Questrade offers a slew of different financial services, ranging from stocks and options investing to pre-built portfolios that you can have managed for you.

It’s a Canadian-exclusive platform with low fees, some aspects with zero-commission guarantees, and an intuitive platform that’s ripe for 2022.

On top of that, Questrade is a 9x winner of the Best Managed Company in Canada award, handles millions of accounts, and is responsible for overseeing more than $25B in assets and liquid cash under their administration. 

It’s a powerhouse business that has a steady plan for the future.

Questrade Products

You are required to have a minimum deposit of $1,000 for most accounts, however, that account will give you access to a wide range of products, including stocks, ETFs, bonds, options, CFDs and forex.

On top of that there’s a money management program that includes a pre-built portfolio that you can dive into straight away, with management fees ranging around 0.25% annually (you sit back and enjoy the dividends, basically).

Questrade Commissions & Fees


Trading Fees

Account Minimum

Stock Trades

min. $4.95 to max. $9.95


Options Contracts

$9.95 plus $1.00 per contract


Questrade isn’t exactly free, but they’re not overly pricey, either. As an institution that exists outside of a website and an app, they need to keep the doors open, but they do it modestly and transparently.

  • ETFs are free to buy, but cost $0.01 to sell, with a minimum sell order price of $4.95 for Questrade
  • Stocks buy and sell for $0.01 per share, again with that $4.95 minimum free for Questrade
  • Options are $9.95 plus $1.00 per contract, which is something you really have to look out for (Questrade isn’t the best for options trading)

Who is Questrade Best For?

Questrade is best for Canadians, primarily because it’s only for Canadians. Some U.S. apps are restricted in Canada, so this is a great option for Canadians to invest in their market.

U.S. citizens cannot hold a Questrade account.  However, there’s 30+ million people in Canada—you can bet that Questrade is not your only option.

If you have more to invest, you can utilize the pros and cons we’ve listed here, and sign up with other Canadian exchanges.

Questrade FAQ's

Can you trust Questrade?

From public opinion, reviews, personal experience, anecdotal information, and more sources, we’ve deemed Questrade as fully trustworthy. There’s years of accounts to go back on, public information, and their insurance through Apex Clearing Corp.

Basically, you’re covered up to a certain amount for all your investments. Where Questrade is popular for options and penny stock trading, you can maximize your investments in these areas without worrying about covering your assets with insurance.

Is Questrade only for Canadians?

Yes. As of this time, only Canadian citizens are allowed to open an account with Questrade. However, if you are a dual-citizen, you still have all of your Canadian rights, so even if you spend your winters in Florida, you can still open a Questrade account (from all the information we were able to gather on the matter).

Should you use Questrade for options trading?

Questrade is also good for options, but not the best. You do have to pay $9.95 per trade, plus $1.00 for a flat-rate fee per contract. There are other options, such as Webull and Robinhood, that don’t charge you a penny for options trading. Although, this is specifically for Canadians.

Webull is not available in Canada as a secondary option, but Robinhood is, so if you want to trade options, you can do so for free through Robinhood, albeit with fewer selections available.

If you’re just starting out, options trading might not be the first thing you do on Questrade until you start making more sizable investments.

Is Questrade good for beginners?

Questrade has an excellent platform that’s completely intuitive for anyone, whether you’re new to investing or a seasoned professional trader. Their intuitive platform is excellent, the transaction fees are transparent, and overall the business itself is ethical (not a given in the stock world).

Questrade is excellent for any Canadian that wants to get into the stock market.

Compare to Other Brokers

Robinhood logo
1 share of free stock
Receive a free stock with deposit
M1 Finance logo
Receive a free stock with deposit


Questrade gives you two great ways to invest with lower fees: buy and sell your own investments or get a pre-built portfolio.

  • Questrade
  • Rating: 4
  • Reviewed by:
  • On January 14, 2022
  • Last modified:February 5, 2022

Review Summary:

Questrade gives you two great ways to invest with lower fees: buy and sell your own investments or get a pre-built portfolio.

Review of: Questrade

Reviewed by:
On January 14, 2022
Last modified:February 5, 2022


Questrade gives you two great ways to invest with lower fees: buy and sell your own investments or get a pre-built portfolio.

About the author 

Donny Gamble

I’m Donny. I’m a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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