Questrade
📍 Available in: Canada
★★★★★ 4.8 / 5.0
Questrade has been empowering Canadian investors for over 25 years as the leading independent alternative to bank-owned brokerages. Questrade lets you buy ETFs with $0 commission fees, offers low-cost stock and options trading, and supports dual-currency CAD/USD registered accounts (avoiding forced currency conversion fees on US equities).
Key Facts at a Glance
| Cost / Fee Structure | $0 Account Fees with $1,000+ balance |
| Credit / Eligibility | N/A (Self-Directed Brokerage) |
Pros & Cons
✓ Pros
- ✓Free ETF purchasing makes dollar-cost averaging into index funds effortless
- ✓Allows holding USD directly inside registered accounts, eliminating 1.5% FX fees on US stocks
- ✓CIPF insurance protects accounts up to $1,000,000 against brokerage insolvency
✕ Cons
- ✕Selling ETFs incurs standard commissions ($4.95 - $9.95)
- ✕Options contract pricing is higher than Interactive Brokers
Key Features
Free ETF Purchases (Zero Commission to buy any Canadian or US ETF)Dual-Currency CAD & USD Registered Accounts (No forced conversion)Full TFSA, RRSP, FHSA, RESP, and Corporate Account SuiteNorbert’s Gambit support for near-zero currency conversion costQuestwealth automated robo-advisor alternative at 0.25% fee