Questrade review

Who Questrade is

Questrade has been the default answer to “which broker should I use?” for independent Canadian investors since 1999 — long enough to predate the apps, big enough to hold OSFI approval to launch its own bank. In early 2025 it dropped commissions to zero on stocks and ETFs, removing the last fee argument against it.

It’s a CIRO investment dealer and CIPF member, so client assets carry the standard $1M-per-category-group protection if the firm fails.

Pricing and the one fee that matters

Stocks and ETFs cost nothing to trade, options cost $0.99 a contract with volume rebates, and there are no account, inactivity or low-balance fees. The fee that remains is foreign exchange: 1.5% each way between CAD and USD.

Questrade’s saving grace is that registered accounts can hold US dollars, which makes Norbert’s Gambit practical and lets US dividends stay in USD instead of being skimmed on every payment. Heavy USD traders should still compare Interactive Brokers; everyone else can manage the fee out of existence here.

For retirees

This is where Questrade quietly beats the trendier apps: it offers RRIF and LIRA accounts, so an RRSP built here can convert and stay at 71 instead of forcing a transfer. Fractional shares help drawdown too — selling $1,200 of a $400 stock is two clicks, no remainder.

Pair it with the RRIF minimum calculator and the retiree cash strategy for the income mechanics.

Frequently asked questions