Side-by-side comparison
Questrade vs Interactive Brokers (2026): Best For Canadians?
Best for
Questrade
Retail Canadian investors, ETF buyers, anyone needing TFSA/RRSP/FHSA/RESP/LIRA/LIF/RDSP — most Canadian families.
Best for
Interactive Brokers Canada
Active traders, international investors, options professionals, day traders, or anyone with portfolios $100K+ wanting the lowest commissions.
Questrade and Interactive Brokers (IBKR) target different ends of the Canadian self-directed investor market. Questrade focuses on retail Canadians; IBKR targets active traders and international investors. Here’s the head-to-head for 2026.
At-a-glance
| Questrade | Interactive Brokers | |
|---|---|---|
| Stock commission | $4.95–$9.95 | $0.005/share (min $1) |
| ETF buy commission | $0 | $0.005/share (min $1) |
| ETF sell commission | $4.95–$9.95 | $0.005/share (min $1) |
| Options commission | $9.95 + $1/contract | $0.65/contract |
| USD account (free) | Yes | Yes |
| Multi-currency support | CAD + USD | 20+ currencies |
| TFSA / RRSP / FHSA | Yes | Yes |
| RESP | Yes | Yes |
| LIRA / LIF / RDSP | Yes | No |
| International markets | Limited (US + select) | 150+ markets |
| Mobile app | Functional | Powerful but complex |
| Desktop platform | Questrade Edge | Trader Workstation (industry standard) |
| Beginner-friendly | Yes | No (steep curve) |
| Inactivity fee | $0 above $5K balance | $10/mo if commissions <$10/mo |
| Account minimum | $1K margin | $0 (cash), $2K margin |
| CIPF insurance | $1M / category | $1M / category |
Where Questrade wins
1. Free ETF buys
Questrade’s $0 commission on ETF purchases is genuinely valuable for buy-and-hold Canadian investors. IBKR charges per share: a 50-share ETF buy costs $1 minimum at IBKR, $0 at Questrade.
For monthly ETF investors: Questrade saves $12/year on commissions vs IBKR for typical 1 buy/month behavior.
2. Full Canadian registered account support
Questrade supports the entire Canadian registered account universe including LIRA, LIF, RRIF, and RDSP. IBKR supports the major ones (TFSA, RRSP, FHSA, RESP) but doesn’t offer LIRA, LIF, or RDSP as of 2026.
For Canadians with complex situations (rolled-over pensions, retirement income funds, disability savings), Questrade is often the only viable option.
3. Beginner-friendly UX
Questrade’s web platform and mobile app are functional and approachable for retail investors. IBKR’s Trader Workstation is one of the most powerful platforms in the industry but has a steep learning curve — most retail users find it overwhelming initially.
For a first-time self-directed investor, Questrade is meaningfully easier.
4. No inactivity penalty for casual users
Questrade has no inactivity fee above $5,000 balance. IBKR charges $10/month if commissions are under $10/month — meaning casual investors who don’t trade actively pay $120/year for the privilege of holding an IBKR account.
For passive investors making 1–2 trades/month, this fee structure makes IBKR economically unattractive vs Questrade.
5. Norbert’s Gambit support
Questrade has documented, refined Norbert’s Gambit support. IBKR’s built-in low-cost FX makes Norbert’s largely unnecessary on the platform — but Questrade users specifically benefit from the gambit.
Where Interactive Brokers wins
1. Dramatically lower commissions for active traders
For users making 20+ trades/month, IBKR’s $0.005/share pricing is overwhelming:
| Broker | Per trade | Annual cost | |
|---|---|---|---|
| IBKR Tiered | $0.50–$1.00 | $25–$50 | |
| Questrade | $4.95 | $248 | |
| TD Direct Investing | $9.99 | $500 |
For a true active trader (say, 200 trades/year), IBKR saves $1,000+ per year vs Questrade. Over a decade, this is $10K+ in compounding savings.
2. International market access (150+ markets)
IBKR provides direct retail access to:
- All major US exchanges
- TSX (Canada)
- London Stock Exchange
- Tokyo Stock Exchange
- Hong Kong Stock Exchange
- Frankfurt Stock Exchange
- Sydney (ASX)
- Plus 140+ other markets
Questrade primarily offers US and Canadian stocks. For investors wanting direct exposure to specific international stocks (a Japanese small-cap, a London-listed REIT, etc.), IBKR is essentially the only retail option in Canada.
3. Best-in-class options trading
IBKR’s options platform is the industry standard:
- Multi-leg strategies (spreads, straddles, condors, butterflies)
- Greeks calculation in real-time
- Volatility surface visualization
- $0.65/contract commission (vs Questrade’s $9.95 + $1/contract)
- Margin support for all major options strategies
For serious options traders, IBKR is the de facto choice. Questrade supports basic options but with higher commissions and fewer advanced features.
4. 20+ currency support
IBKR’s multi-currency account holds 20+ currencies in one account (CAD, USD, EUR, GBP, JPY, AUD, CHF, etc.). Currency conversions are at near-spot rates with $2 fixed fees.
For frequent international travelers, expat workers, or international investors, this is unmatched at any other Canadian broker.
5. Trader Workstation desktop platform
IBKR’s Trader Workstation (TWS) is one of the most powerful trading platforms available to retail investors. Features include:
- Real-time Level 2 quotes on hundreds of markets
- Algorithmic order routing
- Advanced charting (multi-timeframe, hundreds of indicators)
- Direct market access to specific exchanges
- Strategy builders for options
- Risk monitoring tools
For active traders, TWS is closer to professional trading platforms than to retail platforms. Worth the learning curve for serious traders.
Decision framework
Pick Questrade if:
- You’re a retail Canadian investor making under 10 trades per month
- You hold mainly Canadian and US-listed securities
- You need RESP, LIRA, LIF, RDSP support
- You want a beginner-friendly platform
- You’ll use Norbert’s Gambit
Pick Interactive Brokers if:
- You’re an active trader making 20+ trades/month
- You’re a serious options trader
- You want international market access
- You’re an expat with multi-currency needs
- You want the lowest possible commissions globally
Pick neither (use Wealthsimple Trade) if:
- You’re a complete beginner
- Your portfolio is under $25,000 and you only buy Canadian ETFs
- You want $0 commissions on both buys AND sells
My take
For 90% of retail Canadian investors, Questrade or Wealthsimple Trade is the right answer. IBKR is overkill — its commission savings only matter at high trade volumes, and its platform complexity is genuinely barrier for beginners.
The 10% who benefit from IBKR specifically: active traders, options traders, international investors, and high-net-worth Canadians with complex multi-currency needs.
I keep my main TFSA at Questrade. If I were trading 200+ times/year or specifically wanted to buy a London-listed stock, I’d open IBKR. As a buy-and-hold Canadian investor with occasional rebalancing, Questrade is sufficient.
Reader offer
Questrade
Up to $250 cashback when you fund $1,000+
Affiliate link — we may earn a commission, at no extra cost to you. Disclosure.
Read next
- Wealthsimple vs Questrade — main retail decision
- Questrade Review — full hands-on review
- Best stock trading app Canada — broader landscape
- Norbert’s Gambit at Questrade — for USD investors
Frequently asked questions
Is Interactive Brokers cheaper than Questrade?
For active traders: dramatically yes. IBKR charges $0.005/share with a $1 minimum and $1 maximum per trade typically. On a 100-share trade, IBKR is $1 vs Questrade's $4.95. For buy-and-hold ETF investors making 12 trades/year: Questrade is competitive (free ETF buys vs IBKR's per-share fee). Most active traders save significant money on IBKR.
Is Interactive Brokers safe in Canada?
Yes. Interactive Brokers Canada Inc. is a CIRO-regulated dealer and CIPF-insured up to $1 million per general account category — same protections as Questrade, TD Direct, RBC Direct. IBKR's parent (Interactive Brokers Group, NASDAQ:IBKR) is a publicly traded US firm with $300B+ in client assets globally. Operationally one of the most established brokerages in the world.
Which has more account types, Questrade or Interactive Brokers?
Questrade has more Canadian-specific account types. Questrade supports TFSA, RRSP, Spousal RRSP, FHSA, RESP, LIRA, LIF, RDSP, joint, corporate, and trust accounts. IBKR Canada supports TFSA, RRSP, FHSA, RESP, and standard cash/margin/joint/corporate — but doesn't currently support LIRA, LIF, or RDSP as of 2026. For users needing those specific account types, Questrade is the better fit.
Is Interactive Brokers good for beginners?
No. IBKR's platform (Trader Workstation) is one of the most powerful but also one of the most complex in the industry. Steep learning curve. Ample features can overwhelm new investors. For Canadian beginners, Wealthsimple Trade or Questrade are more appropriate. Once you're an experienced active trader, IBKR's tools become valuable.
Does Interactive Brokers support Norbert's Gambit?
Yes, but it's largely unnecessary on IBKR. IBKR offers near-spot CAD-to-USD currency conversion at very low cost (often $2 fixed fee + small spread). Norbert's Gambit at IBKR would save only marginal amounts vs simply using their built-in FX. Most IBKR users skip the gambit and use the platform's FX directly.
Which is better for options trading?
Interactive Brokers — by a wide margin. IBKR has the most sophisticated options platform in the industry, with Trader Workstation supporting complex multi-leg strategies, Greek calculations, and advanced order types. Options commissions are also lower at IBKR ($0.65/contract vs $9.95+$1/contract at Questrade). For serious options traders, IBKR is the standard.
Can I trade international stocks at Questrade or IBKR?
IBKR — significantly more access. IBKR provides direct access to 150+ markets globally including London, Tokyo, Hong Kong, Frankfurt, Sydney, etc. Questrade primarily offers Canadian and US-listed securities. For investors who want exposure to specific international stocks (e.g., a Japanese small-cap, a London-listed REIT), IBKR is essentially the only retail option in Canada.
Does IBKR have a USD account on the free tier?
Yes. IBKR Canada has native multi-currency accounts on all tiers. You can hold CAD, USD, and dozens of other currencies in the same account simultaneously, with low-cost conversions between them. This is similar to Questrade's free USD account but extended to many more currencies.
What are Interactive Brokers' fees in Canada?
IBKR Canada uses a tiered or fixed pricing structure. Tiered: $0.005/share with minimum $0.35 and maximum $1 (for stocks). Fixed: $0.01/share with minimum $1 and maximum $0.5% of trade value. Plus a $10/month minimum activity fee waived if commissions exceed $10/month. For active traders, total costs are dramatically below Questrade's $4.95–$9.95 per trade.
Should I switch from Questrade to Interactive Brokers?
Only if you're an active trader making 20+ trades per month, an options trader, or you need international market access. For buy-and-hold Canadian ETF investors, Questrade's free ETF buys make the commission savings at IBKR negligible. IBKR's complexity is worth it only when you actively use its advanced features.
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