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Questrade Review 2021
9
Best broker for Canadian & US Market

Summary

Recommended for traders and investors focusing on the Canadian and US markets

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Questrade, founded in 1999, is one of the most popular brokerage firms in Canada. It is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF).

Questrade is considered safe because it has a long track record and is regulated by a top-tier regulator.

Questrade pros and cons

Questrade has low stock and ETF fees, and offers advanced research tools including news, fundamental data and chart pattern tools. Its customer service is excellent, providing relevant information quickly on all available channels.

On the negative side, the account opening process for international clients is slow and not fully digital. There is also a high fee for wire withdrawals outside Canada. Lastly, you can hold your cash only in USD and CAD.

ProsCons
 Low stock and ETF fees Slow account opening for non-Canadians
 Solid research tools High withdrawal fee for non-Canadians
 Superb customer service Limited account base currencies
Questrade main features and highlights
🗺️ Country of regulationCanada
💰 Trading fees classLow
💰 Inactivity fee chargedNo
💰 Withdrawal fee amount$0
💰 Minimum deposit$1,000
🕖 Time to open an account1 day
💳 Deposit with bank cardNot available
👛 Depositing with electronic walletAvailable
💱 Number of base currencies supported          .2
🎮 Demo account providedYes
🛍️ Products offeredStock, ETF, Forex, Fund, Bond, Options, CFD
Overall Rating 9

Fees

3.8

Questrade has competitive fees for stocks, ETFs, funds and forex trading. However, margin rates are slightly at the higher end.

ProsCons
 Low non-trading fees High margin rates      .
Low stock and ETF fees           .
 Low fund fees
Questrade fees snapshot
Assets  Fee   levelFee terms
US stockLow$0.01 per share, min $4.95, max $9.95; buying ETFs is free, selling costs $0.01 per share
EURUSDLowThe fees are built into the spread, 1 pip is the average spread cost during peak trading hours.
Mutual fundLow$9.95 per trade
Inactivity         . feeLowNo inactivity fee

We ranked Questrade’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let’s go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Questrade for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared Questrade’s fees with those of two similar brokers we selected, Qtrade and RBC Direct Investing. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Questrade alternatives.

To have a clear overview of Questrade, let’s start with the trading fees.

Questrade trading fees

Questrade trading fees are low. The fee structure is also transparent and easy to understand.

Stock fees and ETF fees

Questrade has generally low stock and ETF fees.

Stock and ETF commission of a $2,000 trade

Questrade charges $0.01 per share for a trade, with a minimum fee of $4.95 and a maximum of $9.95. When trading ETFs, you will be charged only for selling, otherwise the fee structure is the same as for stock trading.

If you prefer stock trading on margin, you should check Questrade’s margin rates.

Trading on margin basically means that you borrow money from your broker and can purchase more shares than you could with just the available cash in your account. You have to pay interest on this borrowed money – the interest rate is called the margin rate. It can account for a significant portion of your trading costs.

Questrade margin rates are high.

Questrade annual margin rates for stocks
USD margin rate        .

Questrade charges a base rate and a markup for trading on margin. At the time of our review, the base rate was 2.45% for loans in CAD and 3.25% for loans in USD. The markup depends on your debit balance. It is 3.75% for a debit balance below $100,000 and 2.75% if it is higher.

Forex fees

Questrade forex fees are low.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Forex benchmark fee of a $20,000 30:1 long position held for one week
$8.1$8.1
GBPUSD benchmark fee$6.5$8.8
AUDUSD benchmark fee$7.4$8.8
EURCHF benchmark fee$9.3$7.7
$9.6$10.6

Fund fees

Questrade fund fees are low compared with other brokers around the world, but high compared to other Canadian stockbrokers.

Commission for a $2,000 fund purchase

The standard fee for mutual funds is $9.95 per trade.

Bond fees

Questrade charges no bond fees, but you must buy a minimum of $5,000 per trade.

Commission of a $10,000 government bond trade

Options fees

Questrade options fees are average.

Stock index options commission of 10 contracts

Options fees are $9.95 per option, plus $1 per contract.

CFD fees

Questrade has average CFD trading fees.

To have a clear understanding of CFD fees, we calculated a CFD benchmark fee for the selected products. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

CFD benchmark fees, for a $2,000 long position held for one week
S&P 500 index CFD fee      .$1.5$2.8
Apple CFD fee$21.4$2.9
Vodafone CFD fee$32.9$9.0

We calculated with 20:1 leverage for stock index CFDs and 5:1 leverage for single stock CFDs.

Questrade’s stock CFD fees are commission-based and have a minimum as seen in the table below:

Questrade stock CFD fees
MarketCommissionMinimum
North America
CanadaCAD 0.01 per shareCAD 9.95
USA$0.01 per share$9.95
Europe
United Kingdom0.10% of the trade value£11.95
Austria, Germany, Ireland0.10% of the trade value€11.95
Belgium, France, Netherlands, Portugal, Spain0.10% of the trade value€9.95
Denmark, Norway, Sweden0.10% of the trade valueDKK/NOK/SEK 99.95
Finland0.10% of the trade value€13.95
Switzerland0.10% of the trade valueCHF 11.95
Asia/Pacific
Australia0.15% of the trade valueAUD 14.95
Hong Kong0.20% of the trade valueHKD 59.95

 

Non-trading fees

Questrade has generally low non-trading fees.

There is no account fee, and withdrawal fees for electronic transfers are also free up to CAD 50,000 or $25,000. However, wire transfers cost $20-40 depending on your residency. International clients can only use wire transfers.

Questrade charges no inactivity fee.

Questrade non-trading fees
Deposit fee

Account Opening

3.8

For Canadian citizens, opening an account at Questrade is easy and fully digital. However, there is a high minimum deposit of $1,000.

ProsCons
 Fast Minimum deposit is higher than $500   .
 Fully digital Complicated for non-Canadians
User-friendly       .

Questrade is a Canadian discount broker that primarily targets Canadian clients, although its services are available to clients all over the world.

What is the minimum deposit at Questrade?

The required Questrade minimum deposit is $1,000.

Account types

Questrade offers several types of accounts. When opening an account, the options are grouped based on the products available with that account (e.g. margin or forex & CFDs) and account ownership. It’s worth keeping in mind that the main difference comes from who owns the account. This can be:

  • an individual
  • multiple individuals
  • a legal entity
Questrade account types
Account typeShort description
Margin Accounts (Individual & Joint)Accounts with leverage to invest in stocks, ETFs, options, etc. Both international and Canadian clients can open this account.
Forex & CFD AccountAccounts focused on forex and CFD trading. Both international and Canadian clients can open this account.
Tax-Free Savings AccountThe account does not apply taxes on any interest earned, dividends or capital gains. Available only for Canadian clients.
Retirement Accounts (RRSP, Spousal RRSP, LIRA, Locked-In RRSP)Lower income taxes with RRSP contributions. Investments are tax-deferred until withdrawal. Available only for Canadian clients.
Registered Education Savings Plans (RESP, Family RESP)Savings accounts for post-secondary education with government incentives and grants. Available only for Canadian clients.
Entity Accounts (Corporate, Investment Club, Partnership, Sole Proprietorship, Trusts)Accounts to invest on behalf of your business or someone else. The funds and assets in the account are taxed according to the corporate tax rates. Available only for Canadian clients.

How to open your account

Opening an account as a Canadian resident is simple and fully digital:

  1. Choose an account type. Opening multiple accounts at once is possible.
  2. Provide your personal information, including country of residence, citizenship, Social Insurance Number and employment information.
  3. Review and confirm the information.
  4. Accept the terms and conditions.
  5. Transfer funds.

The account opening process takes less than 30 minutes for Canadians.

For international customers, it’s more complicated and time-consuming. After registering online and following the instructions above, you have to get in contact with a representative of Questrade to verify your documents, and then mail the documents. This whole process took us more than two weeks.

Questrade review – Account opening

Can you open an account?

Select your country of residence to see if you can open an account at Questrade Review 2021!

Deposit and Withdrawal

2.7

Deposits and withdrawals are free and user-friendly with electronic transfer for Canadians. However, the process is expensive for non-Canadians and credit/debit cards are not available.

ProsCons
Free withdrawal      . Credit/Debit card not available    .
 No deposit fee Slow withdrawal – over 3 days
 User-friendly High fee for wire withdrawals

Account base currencies

At Questrade, you can choose from 2 base currencies: USD and CAD. This is in line with what other Canadian competitors offer.

Base currencies at Questrade vs similar brokers
           2       2                       2

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

Questrade does not charge a deposit fee. International clients can use only wire transfer to fund their account.

If you are from Canada, you can use several options, a lot of which are free:

  • Electronic fund transfer
  • Electronic wallets (Interac Online)
  • Certified cheques

On the negative side, Questrade does not accept deposits from credit or debit cards, or in cash, and for non-Canadians only expensive wire transfers are available.

Questrade deposit options
YesYesYes
NoNoNo
YesNoNo

A bank transfer can take several business days, while payment with a credit/debit card would be instant.

You can only deposit money from accounts that are in your name.

Questrade review – Deposit and withdrawal – Deposit

Questrade withdrawal fees and options

Questrade does not charge withdrawal fees for electronic fund transfers less than CAD 50,000 or $25,000. On the other hand, wire transfers cost $20-40 (depending on your residency). For non-Canadians, only wire transfers are possible.

Questrade withdrawal options
YesYesYes
NoNoNo
YesNo
Questrade withdrawal and transfer fees
Withdrawal methodWithdrawal fee     .
CAD electronic fund transfer up to $50,000No fee
USD electronic fund transfer up to $25,000No fee
CAD transfer$20
USD transfer$30
International wire transfer$40
CAD and USD uncertified cheque$50
Certified cheque$75
Stop payment$25
NSF cheque/returned items$30
Transfer out an account to another institution$150
Partial transfer of an account to another institution   .$25
Estate settlement$250/account

 

How long does it take to withdraw money from Questrade? We tested the bank transfer withdrawal and it took more than 3 business days.

How do you withdraw money from Questrade?

  1. Log in to your account.
  2. Move your cursor over ‘Accounts’ to open the drop-down menu.
  3. Click on ‘Accounts’.
  4. Move your cursor over ‘Requests’.
  5. Click on ‘Withdraw funds’.
  6. Choose the account to withdraw from, the amount, currency and method.
  7. Initiate the withdrawal.

Trading Platform

4.2

Web trading platform

Questrade‘s web trading platform offers a simple, intuitive design, a wide variety of order types and price alerts. However, its customizability is limited and the fee reports are not clear.

ProsCons
 User-friendly No clear fee report available
Good variety of order types      . Limited customizability (for charts, workspace)    .
 Price alerts
Questrade platforms to choose from
Trading platform      .Score      .Available      .
Web3.8starsYes
Mobile4.8starsYes
Desktop4.3starsYes

Questrade offers three trading platforms that differ in the products available and the devices they are offered for. See the table below for details.

Questrade trading platforms
Questrade TradingIQ EdgeQuestrade Global
Best forInvestors looking for easy execution of tradesTraders looking for sophisticated researchFX and CFD traders looking for an easy trading platform
Tradeable productsStocks, ETFs, mutual funds, optionsStocks, ETFs, optionsForex, CFD
Web trading platformYesNoYes
Mobile trading platformYesNoYes
Desktop trading platformNoYesYes

We reviewed Questrade Trading in this section.

Look and feel

Available in English only, Questrade’s web trading platform is user-friendly and has a simpleyet elegant design. Maybe as a result of its simplicity, it offers limited customizability, especially compared to Questrade’s highly customizable desktop trading platform.

Questrade review – Web trading platform

Login and security

Questrade provides a secure two-step login process. It doesn’t require you to enter the security code every time, which is convenient, but if you log in from a new computer you need to enter a generated code sent to your phone or by email.

When you log in to a device for the first time, you have to answer a security question. On successive logins, the accounts can be accessed with the basic login ID and password combination.

Search functions

The search function is basic. You can search by using a company name or an asset ticker.

Search results are not always relevant: when searching for Apple stocks, they only appeared lower on the list of results.

Questrade review - Web trading platform - Search

Questrade review – Web trading platform – Search

 

Placing orders

You can use the following order types:

  • Market
  • Limit
  • Stop-loss
  • Stop-limit
  • Trailing stop
  • Trailing stop-limit
  • Limit on open order
  • Limit on close order

If you are not familiar with the basic order types, read overview.There are also order time limits you can use:

  • Good ‘till date (GTD)
  • Good ‘till canceled (GTC)
  • Day
  • Good ‘till extended market (GTEM)
  • Fill or kill (FOK)
  • Immediate or cancel (IOC)
Questrade review - Web trading platform - Order panel

Questrade review – Web trading platform – Order panel

Alerts and notifications

Setting alerts at Questrade Trading is extremely user-friendly and there are several advanced options: you can set price and trading volume alerts and combine them with various equations. The alerts can be received on multiple email addresses and SMS as well.

Portfolio and fee reports

Questrade provides a clear, easy-to-read portfolio report.However, there is no clear fee report showing how much commission you paid to the broker.The reports can be found in the ‘Account’ section on the opening page. It’s unclear whether they can be downloaded.

Mobile trading platform

The Questrade mobile trading platform is great. It is user-friendly and well-designed.

ProsCons
 User-friendlyNone
 Two-step (safer) login
 Good variety of order types

 

 

 

 

This table shows the mobile trading platforms that are available at Questrade.

In this review, we tested Questrade Trading’s mobile app.It is available both for iOS and Android. We tested it on Android.

In functionality and design it is the same as the web trading platform. It offers the same order types and has similar search functions. Price alerts are shared across devices, so if you create an alert on the web platform you can see and edit it in the app as well, which is very convenient. One small negative is the lack of push notifications, as even from the app you can only set email and text message alerts.

Questrade review - Mobile trading platform

Questrade review – Mobile trading platform

Desktop trading platform

IQ Edge is Questrade’s most advanced trading platform by far. It is user-friendly and highly customizable, with a great variety of order types. However, there is no fee report available.

ProsCons
 User-friendly No clear fee report available
 Good customizability (for charts, workspace)
 Good variety of order types

 

 

 

 

Questrade’s desktop trading platform, IQ Edge is recommended for more advanced traders. It offers more complex order types, a highly customizable interface and a wider variety of features overall than Questrade’s other platforms.

The desktop trading platform is available for both Windows and macOS in English.

Look and feel

The Questrade desktop trading platform is well-designed and highly customizable. It is easy to change the tab sizes and positions.

Questrade review – Desktop trading platform

Login and security

Questrade’s desktop platform requires two-step verification.

Search functions

The search functions are OK. On the plus side, you can find the assets by typing the company name or the asset ticker, but the search results are not always the most relevant.

Questrade review – Desktop trading platform – Search

Placing orders

Besides the order types and order time limits available on the web trading platform, you can add conditional orders and bracket order.

Placing orders on IQ Edge is simple and quickas the ‘Order’ button is readily available on the front page.

Questrade review – Desktop trading platform – Order panel

Alerts and notifications

You can easily set alerts by clicking on ‘Alerts’.

Similar to the web trading platform, you can set price and trading volume alerts. You can choose if you want to get a notification as a pop-up message, audio alert, or via SMS or email.

Portfolio and fee reports

Questrade’s desktop trading platform does not have any portfolio and fee reports: these can only be accessed in the mobile app or on the web platform.

 

Markets and Products

4.2

At Questrade, you can trade almost all asset classes except futures and cryptos. The product portfolio covers only the US and Canadian markets, though.

Questrade product selection
YesYesYes
YesYesYes
YesNoNo
YesYesYes
YesYesYes
YesYesYes
NoNoNo
YesNoNo
NoNoNo

Questrade’s list of available asset classes is impressive. However, the variety of specific products within some asset classes is more limited.

Stocks and ETFs

Questrade stock and ETF selection
Stock markets (#)     .855
ETFs (#)1,8003,1003,100

Even though Questrade is primarily a Canadian firm, it gives you access to all major North American exchanges. It is perfect if you focus exclusively on the North American market, as you can trade on the following stock exchanges:

Available exchanges at Questrade
NYSENASDAQ    .NYSE AM (AMEX)    .
NYSE ARCA     .TSXTSXV
CNSXNEO

Forex

Questrade forex selection
Currency pairs (#)    .116105

Questrade’s forex selection includes all of the most common currency pairs, plus a few exotic pairs as well.

Funds

Questrade mutual fund selection
Fund providers (#)14514083

Questrade offers a competitive number of mutual funds compared with its peers.

Bonds

Questrade bond selection
Bonds (#)1,5001,4001,000

Questrade offers bonds in various categories, such as municipal bonds, corporate bonds and provincial bonds. It is an ideal selection for investors looking for Canadian fixed-income securities.

Options

Questrade options selection
Options markets (#)622

The number of available options markets at Questrade is below average compared with most brokers, but relatively competitive compared with other Canadian brokers.

In Canada, you can buy and sell options on the Toronto Stock Exchange. In the US, the following options markets are available: BATS, NASDAQ, NYSE AM (AMEX) and NYSE ARCA (ARCA). It’s also possible to trade OTC options in the US.

CFDs

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Questrade CFD selection
Stock CFD markets (#)2619
Stock CFDs (#)8,8007,100
Commodity CFDs (#)1
Stock index CFDs (#)1613

Robo-advisory

If you are Canadian, can also invest in Questwealth Portfolios. This is a robo-advisory service that automatically manages your investments based on your investment goals. It’s a great option if you don’t want to manage your investments yourself. There are some other robos on the market, if you are interested check out our reviews here.

Research

5

Questrade offers a vast array of research tools. From news and fundamental data to a chart pattern tool, you will find everything you need to trade.

ProsCons
 Good interactive chart Live data only available for paid subscription
 Trading ideas
Data on asset fundamentals         .

Questrade offers the following in-depth research tools:

  • Questrade Trading: the web trading platform
  • IQ Edge: the desktop trading platform
  • Market Intelligence: a fundamental research tool
  • Intraday Trader: a pattern recognition tool

Trading ideas

On the web trading platform (Questrade Trading) you will find a wide range of analyses, powered by Morningstar.

Fundamental data

There’s a separate section for fundamental data under the ‘Research’ menu. Here you can find information on daily events, although it would be better if we could access the reports directly on the platform. Market Intelligence is a fundamental research tool that delivers a lot of information. You will find company and sector analyses, annual and quarterly financial statements, filings and an insider trading overview.

Questrade offers four Market Data Packages that provide information on the North American markets. The following packages are available for purchase at Questrade: Basic, Enhanced, Advanced US and Advanced Canadian.

At the IPO Centre, Questrade clients can subscribe to the firm’s IPO Bulletin for information on the latest IPOs and secondary offerings.

Questrade review – Research – Fundamental data

Charting

Even though every Questrade platform (web, mobile, desktop) offers a charting tool, we tested the charting tools on the desktop trading platform because it is the most advanced.

We found that the charting tools are simple, elegant and highly customizable. There are 30 technical indicators that you can, which might be enough for an average trader but is lower than what you can find at other competitors.

Questrade also offers Intraday Trader, a pattern recognition tool that is available if you are a subscriber of the Enhanced or Advanced Data packages.

Questrade review – Research – Charting

News feed

News feeds are available and customizable on every Questrade trading platform.

They are updated in real-time and easy to read on the front page of each application. Additionally, there is an option to watch videos on the desktop platform, which is a very unique feature.

Other research tools you may enjoy

Questrade’s desktop trading platform offers a wide range of other tools, of which here are some top picks:

  • You can use a screener with an increased number of filters and products to choose from.
  • There is also a tool called P&L calculator. This is for advanced traders, and calculates probabilities based on your inputs, like price, volatility, options strategy, etc.
  • We also liked the integration of StockTwits, an app that is like Twitter for traders.

Lastly, if you prefer API trading, Questrade offers its API service in C++ and C#.

Customer Service

4.5

Questrade has great customer service, with polite staff that gave detailed answers quickly on all available channels. However, support is unfortunately not available 24/7.

ProsCons
 Phone support No 24/7 support     .
 Live chat
Fast response time        .

You can contact Questrade via:

  • live chat
  • phone
  • email

The live chat service is very fast, they provide information almost immediately. When starting a chat you have to answer a few questions first, which is a minor inconvenience. However, note that you can only access the live chat if you give a Canadian phone number.

Questrade’s phone support was fast and they gave useful answers. As no international phone numbers are available, you need to dial a Canadian number even if you are not from Canada. The waiting time was mixed: on some occasions we needed to wait longer, while at other times a representative answered almost immediately.

Questrade replied quickly to emails as well. The response time was only a few hours, which is great.

On the downside, customer service is not available 24/7: live chat and phone support is available on weekdays only.

Questrade review – Customer Service

Education

4

Questrade offers an adequate amount of educational and tutorial materials for both novice and advanced traders. However, the educational section could be more structured.

ProsCons
 Demo account Educational section is hard to navigate     .
Trading platform tutorial      .
 Educational videos

At Questrade you can learn in the following ways:

  • Demo account
  • Platform tutorial videos
  • General educational videos
  • Quality educational articles
  • Webinars

By far the most useful educational tool Questrade offers is the demo account for each of its platforms. Using these, you can simulate investing and trading, even before depositing funds.

Educational materials are found in the ‘Resources’ section on the Questrade website. You can read blog posts on investing, register for on-demand webinars and search for information in the ‘Help & How-to’ section. Finding answers to generic questions using the search function is fairly simple. Information is available on various topics, such as order types, how to install IQ Edge, and funding.

Webinars are also available in the learning center. You can register and watch them in 8 topics on various investment themes (e.g. dividend investing).

Questrade’s YouTube channel is another useful source of educational content. It provides videos on basics like products and services or specific topics, such as single and multi-leg orders. The quality of the videos is good but it would be great if more content was available on different assets and strategies.

Questrade review – Education

Safety

Questrade is regulated by a top-tier Canadian authority, and offers investor protection for a high amount. Unfortunately, there is no negative balance protection.

ProsCons
Majority of clients belong to a top-tier financial authority     . No negative balance protection
 High level of investor protection Does not hold a banking license      .
 CAD 10 million per account additional insurance Not listed on stock exchange

Is Questrade regulated?

Yes, it is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF).

Questrade  is based in Canada and was founded in 1999.

Is Questrade safe?

To be certain if a brokerage is safe, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

This is important for you, because the investor protection amount and the regulator differ according to the legal entity you belong to. However, this is not an issue with Questrade, as all customers are covered by Questrade, Inc., which is a member of CIPF. This means that you are eligible for the CAD 1 million coverage offered by CIPF. 

On top of this, each account is covered by additional insurance up to CAD 10 million. This is a great service, as most other brokers don’t provide such a high level of insurance.

Questrade investor protection
Country of clients    .Protection amount    .Regulator    .Legal entity    .
All countriesCAD 1 millionIIROCQuestrade, Inc.

Questrade does not provide negative balance protection.

Background

Questrade is a Canadian private company established in 1999. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

On the negative side, the amount of financial information available on Questrade is quite limited compared with other brokers.

Being regulated by a top-tier authority, offering high investor protection and insurance, and having been in operation for a long time are all great signs for Questrade’s safety.

Bottom Line

Questrade is among the fastest-growing online brokerage firms in Canada. Its stock and ETF fees are low, research tools are advanced and customer service is outstanding.

Questrade has some shortcomings as well. Even though the account opening process for Canadians is quick and easy, it’s slow and time-consuming if you are not Canadian. You can face high withdrawal fees if you are not a Canadian citizen and there are only USD and CAD as account base currencies.

Since Questrade has advanced research tools and offers great customer service, feel free to give it a try.

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Questrade Review 2021
Questrade Review 2021

Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

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