Questrade Review (2026): Best Canadian Brokerage?

I have used Questrade since 2020 — currently my primary TFSA broker because of the native USD account and Norbert’s Gambit support. After 6 years, hundreds of trades, and one major account transfer, here’s the honest breakdown.

What is Questrade?

Questrade is one of Canada’s largest independent online brokerages, founded in 1999. As of 2026, it has roughly $30B+ in client assets and is the third-largest Canadian discount broker after the bank brokers (TD Direct, RBC Direct).

Unlike the bank brokers, Questrade was built specifically for self-directed investors and historically has had lower fees and more account-type flexibility. Unlike Wealthsimple Trade, Questrade has a longer track record and supports the full Canadian registered-account universe.

Questrade fees: what you actually pay

Questrade fees (May 2026)

	Fee
Stock trades	$0.01/share, min $4.95, max $9.95
ETF buys	$0 (free)
ETF sells	$0.01/share, min $4.95, max $9.95
Options trades	$9.95 + $1/contract
Mutual funds	$9.95
Bond / GIC trades	$1/$1,000 face value, min $24.99
Account inactivity fee	$0 if balance ≥ $5,000; $24.95/quarter otherwise
Account maintenance	$0
Account transfer in	$0
Account transfer out (full)	$150 + GST
USD currency conversion	~1% spread (vs 1.5–2% at bank brokers)

The “minimum $4.95” matters: small trades on cheap stocks pay disproportionately. A $200 trade of a $10 stock costs you $4.95 — that’s 2.5% of the trade. Bigger trades amortize the cost.

For long-term ETF investors who buy monthly, Questrade is effectively free since ETF buys cost $0. Sells (typically once a year for rebalancing) cost ~$5.

How Questrade compares to other Canadian brokers

Questrade vs major Canadian brokers (May 2026)

	Questrade	Wealthsimple Trade	TD Direct	RBC Direct
Stock commission	$4.95–$9.95	$0	$9.99	$9.95
ETF buy commission	$0	$0	$9.99	$9.95
USD account (free)	Yes	No	Yes	Yes
RESP	Yes	No	Yes	Yes
Mobile app rating	3.0/5	4.8/5	2.5/5	3.5/5
Norbert's Gambit	Yes — best	Plus tier only	Yes (manual)	Yes (manual)

Account types: where Questrade dominates

Questrade supports every account type a Canadian investor might need:

Registered:

• TFSA — Tax-Free Savings Account
• RRSP — Registered Retirement Savings Plan
• Spousal RRSP
• FHSA — First Home Savings Account
• RESP — Registered Education Savings Plan (individual or family)
• LIRA — Locked-in Retirement Account
• LIF — Life Income Fund
• RRIF — Registered Retirement Income Fund
• RDSP — Registered Disability Savings Plan

Non-registered:

• Cash account
• Margin account
• Joint account
• Corporate account
• Trust account

Compare to Wealthsimple Trade: TFSA, RRSP, FHSA, Cash, Margin, Crypto only. Questrade has the full menu.

For most retail investors, the gap doesn’t matter (you only use TFSA + RRSP + FHSA most of the time). For families with kids (RESP), retirees (LIF), incorporated business owners (corporate), or anyone who’s rolled over a pension (LIRA), Questrade is often the only option.

The USD account advantage

The biggest practical reason I keep my main TFSA at Questrade: the native USD account is included on the free tier.

This means:

• Buy VOO, VTI, SPY directly in USD — no FX conversion on each trade.
• Hold US dividends in USD until you reinvest them.
• Convert CAD to USD once via Norbert’s Gambit (~$10), then never pay FX again on US holdings.

On Wealthsimple Trade’s free tier, every CAD-to-USD round trip costs 1.5%. If you convert $50,000 over a decade, that’s $1,500 in friction. Questrade’s USD account eliminates that.

Wealthsimple Plus ($10/mo) solves this for $120/year — but Questrade has no monthly fee for the USD account.

Norbert’s Gambit support

Questrade is the gold standard for Norbert’s Gambit, the technique that converts CAD to USD at near-spot rates using DLR.TO and DLR.U.TO. The process:

1. Buy DLR.TO in your CAD account.
2. Wait for settlement (T+2).
3. Call Questrade and ask to journal shares to DLR.U.TO.
4. Sell DLR.U.TO in USD.

Total cost: ~$10 in commissions. Compared to bank FX (~1.5–2%), the savings on a $30,000 conversion are $440–$590.

Read more: Norbert’s Gambit Canada.

Questrade Edge (desktop platform)

Questrade Edge is the desktop trading platform, free for active traders. Features:

• Real-time Level 2 quotes
• Advanced charting (multi-timeframe, indicators, drawing tools)
• Options chains
• Conditional and OCO orders
• Market scanners

For options traders or anyone trading frequently, Edge is genuinely useful. For buy-and-hold ETF investors, the basic web platform is fine.

My personal experience

My main TFSA at Questrade holds:

• ~70% in US-listed ETFs (VOO, VEA, VWO) directly in USD
• ~20% in CAD-listed ETFs (XEQT, VDY)
• ~10% in individual Canadian dividend stocks

Questrade’s USD account handles this without any FX friction. Annual rebalance costs me 3–5 trades = ~$25 in commissions. Compared to the FX cost I’d pay at Wealthsimple Trade free tier (probably $200–$300/year on this portfolio), Questrade saves real money.

The mobile app is the weakest part of the experience. It works, but it looks dated. I primarily use the web platform.

Customer service: what to expect

• Chat: 5–20 minute waits typical. Quality is high.
• Phone (1-866-980-9590): longer waits in tax season, ~10–30 minutes typical otherwise.
• Email: 1–2 day response.
• Norbert’s Gambit calls: the trading desk handles these — usually 10 minute hold then 2 minute call.

I have called Questrade probably 30 times since 2020 (mostly for Norbert’s). Quality has been consistent.

Outage history

Honest disclosure: Questrade has had platform outages, particularly in 2022 during a few volatile market events. Edge has occasionally crashed or failed to update quotes during opens. The web platform has been more reliable.

For buy-and-hold investors this rarely matters. For active intra-day traders it can.

Sign-up offer

Questrade typically runs a $50–$250 cashback offer for new accounts that fund $1,000 or more. The bonus tier depends on initial deposit:

• $1,000–$9,999: $50 cashback
• $10,000–$24,999: $75 cashback
• $25,000+: up to $250 cashback

Verify the current offer on Questrade’s website before applying — promo amounts change.

Reader offer

Questrade

Up to $250 cashback when you fund $1,000+

Open a Questrade account →

Affiliate link — we may earn a commission, at no extra cost to you. Disclosure.

Who should use Questrade

Use Questrade if:

• You hold US-listed ETFs (VOO, VTI, SPY, etc.) and want a free USD account
• You need RESP, LIRA, LIF, RDSP, joint, or corporate accounts
• You want to use Norbert’s Gambit
• You’re an active trader (20+ trades/year)
• Your portfolio is $25,000+

Skip Questrade (use Wealthsimple Trade or another) if:

• You’re a complete beginner and want the simplest possible UX
• You only buy Canadian-listed ETFs and never sell
• Your portfolio is under $10,000 and you only contribute monthly
• The mobile app experience matters most to you

My final verdict

For serious investors, Questrade is the best Canadian brokerage in 2026. The combination of free ETF buys, native USD account, comprehensive account types, and Norbert’s Gambit support is unique in the Canadian market. The fee per stock trade is meaningful only if you’re actively trading; for buy-and-hold investors, effective fees approach zero.

Beginners and small accounts may prefer Wealthsimple Trade for the simpler UX. But by the time your portfolio crosses $25K or you need an RESP, Questrade is usually the right move.

I have kept my main TFSA at Questrade for 5 years and have no plans to leave.

Read next

• Wealthsimple vs Questrade — the full head-to-head
• Norbert’s Gambit at Questrade — step-by-step
• Is Questrade safe? — CIPF coverage explained
• Best Canadian ETFs — what to buy