Questrade vs Interactive Brokers is no longer a contest over stock commissions: Questrade now charges $0 on Canadian and US stocks and ETFs, which is less than Interactive Brokers (IBKR) charges. The real differences sit elsewhere: what it costs to convert currency, what it costs to borrow, which registered accounts each firm offers, and how far beyond Canada and the US you want to trade. Every figure below comes from the two companies’ own fee pages, read on October 8, 2026.
Questrade vs Interactive Brokers at a glance
| Feature | Questrade | Interactive Brokers Canada |
|---|---|---|
| Canadian stock and ETF commission | $0 to buy and sell Canadian and U.S.-listed stocks and ETFs (better on this row) | Fixed plan: 1 cent a share, with a $1.00 minimum and a cap of 0.5% of the trade value per order |
| US stock and ETF commission | $0 (better on this row) | Fixed plan: US$0.005 a share, with a US$1.00 minimum and a cap of 1% of the trade value per order |
| US equity options | $0 commissions on US equity options contracts (better on this row) | US$0.65 per contract, with a US$1.00 minimum per order |
| Canadian-listed options | CA$0.99 per contract (better on this row) | CAD 1.25 per contract, with a CAD 1.50 minimum per order |
| Currency conversion | 1.5% | 0.002% of the amount (US$2.00 minimum) (better on this row) |
| CAD margin rate | CAD prime + 4.25% on debit balances under $100,000 (CAD prime + 3.25% from $100,000); CAD prime is 4.45% | 3.606% on the first $130,000 borrowed in CAD as of October 8, 2026 (IBKR's benchmark rate + 1.5%) (better on this row) |
| Interest on uninvested CAD cash | 0% at current prime rates — Questrade's formula for CAD cash is prime minus 8.50%, and a negative result pays 0% | 1.606% on CAD cash above $13,000, for accounts worth more than US$100,000 (a lower rate below that) (better on this row) |
| Registered accounts | TFSA, RRSP, spousal RRSP, FHSA, RESP, LIRA, locked-in RRSP, LIF and RRIF (better on this row) | RRSP, spousal RRSP, RRIF, TFSA and FHSA; no locked-in plans (such as a LIRA) and no annuities |
| Holding US dollars | free — every account can hold both Canadian and US dollars | Registered accounts hold cash in both CAD and USD |
| Markets | Canadian and US listings at the standard commission; international equities at 1% of the trade value, charged in US dollars, with a $195 minimum per trade | 170 markets in 40 countries (better on this row) |
| Account minimum and inactivity fee | free to open, with no minimum balance; annual and inactivity fees: none — no annual account fees and no inactivity fees | no account minimum and no inactivity fee (US$0 for both) |
| Real-time quotes | free real-time Level 1 streaming quotes, plus free snap quotes (better on this row) | Toronto Stock Exchange Level 1: $9.00 a month |
| Fractional shares | hundreds of eligible Canadian and US stocks and ETFs, from $1, commission-free, in any self-directed account | available on eligible US, Canadian and European stocks and ETFs |
| Investor protection | CIRO-regulated, CIPF member | CIRO-regulated, CIPF member |
Sources: questrade.com pricing, transaction-fee, administrative-fee, margin-interest, account-types and promotions pages; interactivebrokers.ca commission, margin-rate, interest-rate, registered-account, required-minimums and market-data pages. All read on October 8, 2026. Interactive Brokers' margin and cash-interest rates float with a benchmark and can change daily.
Is Interactive Brokers cheaper than Questrade?
Not on stock and ETF commissions: Questrade charges $0, while Interactive Brokers Canada’s Fixed plan charges 1 cent a share, with a $1.00 minimum and a cap of 0.5% of the trade value per order. Interactive Brokers is cheaper on currency conversion and borrowing.
Here is each fee line, from the two companies’ own schedules:
- Canadian stocks and ETFs: Questrade. Questrade’s pricing page says $0 to buy and sell Canadian and U.S.-listed stocks and ETFs. Interactive Brokers Canada’s Fixed plan is 1 cent a share, with a $1.00 minimum and a cap of 0.5% of the trade value per order, and its own example prices a trade at $1.00 for 100 shares at $25. Its Tiered plan starts at CAD 0.008 a share on the first 300,000 shares a month, with exchange, clearing and regulatory fees added on top and the same $1.00 minimum per order.
- US stocks and ETFs: Questrade. The same $0 commission applies at Questrade. Interactive Brokers’ Fixed plan charges US$0.005 a share, with a US$1.00 minimum and a cap of 1% of the trade value per order; its example is US$1.00 for 100 shares at US$25.
- Options: Questrade. Questrade lists $0 commissions on US equity options contracts, CA$0.99 per contract on Canadian-listed options, and $0 plus US$0.99 per contract, from market open on September 28, 2026 on US index options. Interactive Brokers charges US$0.65 per contract, with a US$1.00 minimum per order on US equity options and CAD 1.25 per contract, with a CAD 1.50 minimum per order on Canadian-listed ones. The options brokerage comparison for Canada sets these two beside other Canadian brokerages on options pricing.
- Currency conversion: Interactive Brokers, by a wide gap. Questrade’s transaction-fee schedule lists 1.5% on conversions between Canadian and US dollars. Interactive Brokers charges 0.002% of the amount (US$2.00 minimum), and says it passes through the dealer quotes it receives and charges a separate commission.
- Margin interest: Interactive Brokers. Its CAD rate is 3.606% on the first $130,000 borrowed in CAD as of October 8, 2026 (IBKR's benchmark rate + 1.5%). Questrade’s is CAD prime + 4.25% on debit balances under $100,000 (CAD prime + 3.25% from $100,000).
- Interest on idle cash: Interactive Brokers, for larger accounts. It pays 1.606% on CAD cash above $13,000, for accounts worth more than US$100,000 (a lower rate below that), and nothing on the first $13,000 of CAD cash (and the first US$10,000 of USD cash). Questrade’s schedule works out to 0% at current prime rates — Questrade's formula for CAD cash is prime minus 8.50%, and a negative result pays 0%.
- Account fees: tie. Questrade’s annual and inactivity fees are none — no annual account fees and no inactivity fees. Interactive Brokers’ required-minimums page lists no account minimum and no inactivity fee (US$0 for both).
- Real-time quotes: Questrade for Canadian listings. Questrade includes free real-time Level 1 streaming quotes, plus free snap quotes. Interactive Brokers gives free real-time streaming quotes on US-listed stocks and ETFs (non-consolidated, from Cboe One and IEX) and free delayed quotes on other products, where available; real-time Toronto Stock Exchange Level 1 quotes cost $9.00 a month.
YieldMaple checked Questrade’s pricing, transaction-fee and margin-interest pages and Interactive Brokers Canada’s commission, margin-rate and interest-rate pages on October 8, 2026. Hover over any figure on this page to see its source.
Questrade vs IBKR fees: what would a year cost?
A buy-and-hold investor pays less at Questrade, and an investor who converts currency or borrows pays less at Interactive Brokers. Four worked examples, using each company’s published rates:
1. Fifty Canadian stock trades a year. Take Interactive Brokers’ own example of $1.00 for 100 shares at $25 on the Fixed plan. Fifty trades like that cost $50 a year at Interactive Brokers and $0 a year at Questrade. Small orders are cheaper than the minimum suggests: Interactive Brokers caps the commission at 0.5% of the trade value, and when the percentage cap works out lower than the minimum, you pay the cap, so a $100 order costs 50 cents.
2. Converting $10,000 to US dollars. At Questrade’s posted rate the conversion costs $150. At Interactive Brokers, the percentage commission works out to about 20 cents, so the US$2.00 minimum applies instead. If you simply buy a US stock with Canadian dollars and let Interactive Brokers convert automatically, the cost is typically 0.03% added to the exchange rate, with no separate commission, or about $3 on this amount. Questrade customers can cut the cost with Norbert’s Gambit, where journaling costs $9.95 per online journaling request (free and unlimited with Questrade Plus); the steps are in the guide to Norbert’s Gambit at Questrade.
3. Borrowing $20,000 on margin for a year. Questrade’s rate is CAD prime + 4.25%, which is 8.70% with its CAD prime at 4.45%, so a year of interest is $1,740. At Interactive Brokers’ rate of 3.606% on October 8, 2026, it is about $721, a gap of about $1,019 a year. Interactive Brokers’ rate floats daily with its benchmark, and interest accrues daily and is posted monthly, on the third business day of the following month.
4. Ten US equity options contracts. Questrade lists $0 commissions on US equity options contracts. Interactive Brokers’ Fixed plan charges US$0.65 per contract, with a US$1.00 minimum per order, so ten contracts cost US$6.50 before exchange and regulatory fees.
Which accounts can you open at Questrade and Interactive Brokers?
Questrade offers more registered account types: its list includes RESP, LIRA and LIF accounts, while Interactive Brokers Canada’s registered plans are RRSP, spousal RRSP, RRIF, TFSA and FHSA, with no locked-in plans (such as a LIRA) and no annuities.
Questrade’s account-types page lists TFSA, RRSP, spousal RRSP, FHSA, RESP (individual and family), LIRA, locked-in RRSP, LIF, RRIF, cash and margin (individual and joint), corporate, trust, estate, partnership, sole proprietorship, and Forex & CFD accounts. That covers a family saving for a child’s education and a worker moving a pension into a locked-in account.
Interactive Brokers Canada’s page for individuals lists individual and joint accounts, RRSPs, spousal RRSPs, TFSAs and FHSAs. Its registered-plan page covers RRSP, spousal RRSP, RRIF, TFSA and FHSA; an RESP is not on that page as of October 8, 2026. Three rules on the same page matter before opening a registered account there:
- What it can hold: stocks and ETFs listed on designated US and Canadian exchanges, plus some options, warrants and US bonds. The global market list does not carry over to a TFSA, RRSP or FHSA.
- Margin: not allowed — every purchase must be paid in full.
- Transfers: incoming registered transfers are accepted, including manual (non-ATON) transfers; outgoing ones go only through the electronic ATON transfer system.
Questrade charges $150 per account, for a full or partial transfer (sales tax added where applicable) when an account leaves, and its promotions page says another institution’s transfer fee is reimbursed up to $150 per account when an account arrives.
Is Questrade or Interactive Brokers better for US stocks and currency conversion?
Interactive Brokers converts currency for far less (0.002% of the amount (US$2.00 minimum), against 1.5% at Questrade), while Questrade charges no commission on the US trade itself.
Both firms let you keep US dollars rather than converting on every trade. Questrade’s dual-currency accounts are free — every account can hold both Canadian and US dollars, and its pricing page says you can hold USD in registered accounts, so US trades don't force a conversion. Interactive Brokers says you can fund the account in multiple currencies and trade assets denominated in multiple currencies; its registered accounts hold cash in both CAD and USD.
The practical split: an investor who converts once and then holds US-listed ETFs for years pays Questrade’s conversion fee a single time and nothing on the trades. An investor who moves between currencies regularly, or converts large sums, pays far less per conversion at Interactive Brokers. The full process, from the W-8BEN form to choosing a US ticker, is in the guide on how to buy US stocks from Canada.
Platforms, market data and global markets
Interactive Brokers’ range is its main selling point. It lists stocks, options, futures, currencies and bonds across 170 markets in 40 countries, with 100+ order types, from limit orders to algorithmic orders. Its platforms include Trader Workstation (TWS), IBKR Desktop and IBKR Mobile. Fractional shares are available on eligible US, Canadian and European stocks and ETFs.
Questrade is built around Canadian and US listings. Its fee schedule does price international equities, at 1% of the trade value, charged in US dollars, with a $195 minimum per trade, which rules out small foreign orders. Its fractional shares cover hundreds of eligible Canadian and US stocks and ETFs, from $1, commission-free, in any self-directed account. Questrade’s ECN fees are none on Canadian orders; on US orders only when you route an order to a specific exchange yourself, trade US over-the-counter securities or trade in the overnight session.
Interactive Brokers Canada describes itself as an order-execution-only dealer that gives no investment advice or recommendations. In practice that means you place your own orders there, and the firm does not tell you whether an investment suits you.
Are Questrade and Interactive Brokers safe?
Both are CIRO-regulated investment dealers and CIPF members, so client accounts at either firm fall under the same Canadian Investor Protection Fund coverage if the firm becomes insolvent.
Interactive Brokers Canada Inc. is a member of the Canadian Investment Regulatory Organization (CIRO) and of the Canadian Investor Protection Fund (CIPF). Questrade, Inc. is a registered investment dealer and a member of both the Canadian Investment Regulatory Organization (CIRO) and the Canadian Investor Protection Fund (CIPF). CIPF’s FAQ sets the limits at $1 million for all general accounts combined (such as cash, margin, TFSA and FHSA accounts), plus $1 million for all registered retirement accounts combined (such as RRSPs, RRIFs and LIFs), plus $1 million for RESPs where you are the subscriber. The coverage is for missing property when a member firm fails; it does not protect against a drop in the value of your investments.
Who each broker fits
Questrade fits if:
- You buy and hold Canadian and US stocks and ETFs and want $0 commissions
- You need an RESP, LIRA or LIF as well as a TFSA, RRSP or FHSA
- You trade US equity options and want $0 commissions on US equity options contracts
- You want free real-time Level 1 quotes
Interactive Brokers fits if:
- You convert between Canadian and US dollars often, or in large amounts
- You borrow on margin in a non-registered account
- You want stocks listed outside Canada and the US in a non-registered account
- You keep a large cash balance and want interest on it
A third option: Wealthsimple also charges $0 commission on stocks and ETFs. The Wealthsimple vs Questrade comparison covers that choice, and the roundup of the stock trading apps available in Canada covers the wider field.
The verdict
For a Canadian investor who buys stocks and ETFs and holds them, Questrade costs less: $0 commissions, free real-time Level 1 quotes and a longer list of registered accounts. Interactive Brokers costs less once currency conversion or margin enters the picture, and it is the one of the two built for markets outside North America.
Nothing stops you from using both: registered accounts at one and a non-registered trading account at the other. Questrade’s pricing page lists none — no annual account fees and no inactivity fees for annual and inactivity fees, and Interactive Brokers’ required-minimums page lists no account minimum and no inactivity fee (US$0 for both), both read on October 8, 2026.
Questrade’s current new-client offer is 0% interest on your first US$5,000 of USD margin borrowing for up to 6 months (new clients who open a margin account with code 0MARGIN, September 1 to December 31, 2026). Its promotions page also lists a referral bonus of $50 each for you and the friend who opens and funds an account with your referral code. Its promotions page lists no cash-back funding bonus as of October 8, 2026.
Editorial pick
Questrade
Read next
- Wealthsimple vs Questrade: the two commission-free brokerages compared
- Questrade review: fees, accounts and platform in full
- Stock trading apps in Canada: the wider field
- Norbert’s Gambit at Questrade: cutting the cost of buying US dollars