Questrade has been one of Canada’s most talked-about online brokerages for years, and heading into 2026, it remains a strong contender for self-directed investors. But is it the right platform for you? As a fee-only financial planner, I’ve guided dozens of clients through brokerage decisions, and I want to give you an honest, balanced look at what Questrade actually offers — and where it falls short.
What Is Questrade?
Questrade is a Canadian online brokerage founded in 1999 and headquartered in Toronto. It’s regulated by the Canadian Investment Regulatory Organization (CIRO) — formerly known as IIROC — which means your investments are held to strict industry standards and your eligible accounts are protected by the Canadian Investor Protection Fund (CIPF) up to $1 million per account category. That regulatory backing matters when you’re trusting a platform with your savings.
Questrade Pricing vs. Wealthsimple: Side-by-Side
| Feature | Questrade | Wealthsimple Trade |
|---|---|---|
| Stock trades (buy) | $4.95–$9.95 | Free (CAD); 1.5% FX on USD |
| ETF purchases | Free | Free (CAD) |
| ETF sells | $4.95–$9.95 | Free (CAD) |
| USD account (Norbert’s Gambit) | ✅ Yes | ❌ No |
| Options trading | $9.95 + $1/contract | ❌ Not available |
| Account minimum | $1,000 (margin); $0 (TFSA/RRSP) | $0 |
| Robo-advisor option | Questwealth (0.20%–0.25%) | Wealthsimple Invest (0.50%) |
Pros and Cons of Questrade
| ✅ Pros | ❌ Cons |
|---|---|
| Free ETF purchases — great for index investors | ETF sells still cost $4.95–$9.95 |
| USD account available (reduces FX drag) | Platform can feel clunky for beginners |
| CIRO-regulated, CIPF protected | Customer service wait times can be long |
Discover the best AI financial tools for CanadiansSee Top Picks → Rachel Chen Rachel Chen is a Canadian personal finance writer and former financial planner based in Toronto. She holds a Bachelor of Commerce from the University of Toronto and spent 6 years as a fee-only financial planner before transitioning to financial education writing. Rachel specialises in Canadian tax-advantaged accounts (TFSA, RRSP, FHSA), fintech tools, and investment platforms for everyday Canadians. All content on MyFinanceCanada is for educational purposes only and does not constitute financial advice — always consult a qualified financial advisor for personal decisions. You Might Also Like |