According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- FxPro Edge
- Questrade Trading
- Questrade (Mobile app)
- Questrade IQ
- Questrade Global
- 1999
Our Evaluation of Questrade
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Questrade is a moderate-risk broker with the TU Overall Score of 5.63 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Questrade clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Questrade is an online investment broker for various purposes. The company focuses on clients from Canada.
Brief Look at Questrade
Questrade Inc. is a reliable broker that has been providing services since 1999. The company offers a wide range of trading instruments: currency pairs (Forex), stocks, ETFs, CFDs, options, bonds, mutual funds, and individual investment instruments. The main office is located in Toronto and this broker opens 200,000 new accounts each year. Questrade Inc. is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). Learn about Questrade Canada
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- A wide range of instruments, access to the stock markets of 18 countries.
- The broker is regulated by the Canadian IIROC.
- Instruments for passive investments.
- Various professional trading platforms.
- Low fees for ETFs.
- Fast account opening, especially for Canadian citizens.
- Relatively high commissions for Forex traders.
- Restrictions for Non-Canadian Customers.
- Limited choice of payment systems for deposits and withdrawals.
TU Expert Advice
Author, Financial Expert at Traders Union
Questrade provides a diverse range of trading instruments, including Forex, stocks, ETFs, CFDs, options, bonds, and mutual funds. The company offers Questrade IQ and Questrade Global platforms, catering to both Canadian and international clients. Advantages include low fees for ETFs, access to stock markets in 18 countries, and fast account opening for Canadian residents. Additionally, robust regulatory oversight by CIRO ensures a level of safety in trading activities.
However, Questrade has certain drawbacks, such as high Forex fees and restrictions for non-Canadian clients. Also, limited payment systems for deposits and withdrawals may not suit all users. These factors make Questrade more suitable for Canadian investors or those with specific geographic and investment needs. Overall, while offering extensive trading instruments and low ETF fees, Questrade’s high Forex charges and limited international support may not appeal to all traders.
Questrade Trading Conditions
Your capital is at risk. 79.43% of retail investor accounts lose money when trading CFDs with this provider. Questrade Ltd and its affiliates do not target EU/EEA/UK clients. It is the user's responsibility to ensure that any use of the website or services adhere to local laws or regulations. Please be aware that you are able to receive investment services at your own exclusive initiative only, ensuring you fully understand all the risks involved.
💻 Trading platform: | Questrade Trading, Questrade app (for Android and iOs), Questrade IQ, Edge, Questrade Global + 11 platforms from partner companies |
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📊 Accounts: | TFSA, RRSP, RESP, Margin, Forex & CFD. Some accounts are available only for Canadians |
💰 Account currency: | USD, CAD |
💵 Deposit / Withdrawal: | Wire transfer, Interac Online (Canadian Residents), Visa Debit Card |
🚀 Minimum deposit: | from 1 CAD |
⚖️ Leverage: | up to 1:20 for retail trade, CFDs, and Forex |
💼 PAMM-accounts: | No |
📈️ Min Order: | 0.01 |
💱 EUR/USD spread: | 0,2 pips |
🔧 Instruments: |
Currency pairs (110), CFD on shares (18 exchanges), CFD on indices (16), ETF (1800), Income guaranteed certificates, stocks, options, and bonds on TSX, NASDAQ, NYSE, and other exchanges |
💹 Margin Call / Stop Out: | 100% |
🏛 Liquidity provider: | Canadian banks, plus direct access to exchanges |
📱 Mobile trading: | Yes |
➕ Affiliate program: | Yes |
📋 Order execution: | Market execution |
⭐ Trading features: | No inactivity fees, no fees to buy ETFs |
🎁 Contests and bonuses: | Yes |
Questrade offers clients up to 1:20 leverage, depending on the asset and the account chosen for trading. Potential clients can test the trading conditions on demo accounts. The broker does not provide Islamic accounts (swaps).
Questrade Key Parameters Evaluation
Video Review of Questrade
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Trading Account Opening
To start trading with Questrade, you need to become a client of the broker by opening a trading account. A quick guide looks like this:
Click Open Account on Questrade’s website.


After that, select the type of account.

After choosing an account, you will need to indicate your full name (as in your passport) and come up with a password. After that, a personal account will be created. To use all the functionality of the account, you need to create a profile by providing more information about yourself, your financial position, your attitude toward risk, and your goals for opening the account.

After creating the profile, you need to complete the creation of the selected account. In this case, the client will have to answer similar questions asked during the creation of the profile. So the procedure for opening an account may seem convoluted.

Also in the personal account, the client has access to:
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Various real-time reports on accounts.
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Forms for deposits and withdrawals of funds.
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Section for working with the affiliate program.
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Support interface.
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Section for downloading trading platforms.
Regulation and safety
Questrade has a safety score of 9/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Track record over 26 years
- No negative balance protection
Questrade Regulators and Investor Protection
Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
---|---|---|---|---|
|
Investment Industry Regulatory Organization of Canada | Canada | CAD 1,000,000 | Tier-1 |
Questrade Security Factors
Foundation date | 1999 |
Negative balance protection | No |
Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker Questrade have been analyzed and rated as Medium with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Above-average Forex trading fees
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Questrade with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Questrade’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Questrade Standard spreads
Questrade | Pepperstone | OANDA | |
EUR/USD min, pips | 0,8 | 0,5 | 0,1 |
EUR/USD max, pips | 1,2 | 1,5 | 0,5 |
GPB/USD min, pips | 0,8 | 0,4 | 0,1 |
GPB/USD max, pips | 1,2 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Questrade RAW/ECN spreads
Questrade | Pepperstone | OANDA | |
Commission ($ per lot) | 3,5 | 3 | 3,5 |
EUR/USD avg spread | 0,2 | 0,1 | 0,15 |
GBP/USD avg spread | 0,3 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Questrade. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Questrade Non-Trading Fees
Questrade | Pepperstone | OANDA | |
Deposit fee, % | 0 | 0 | 0 |
Withdrawal fee, % | 0 | 0 | 0 |
Withdrawal fee, USD | 0-40 | 0 | 0-15 |
Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
Questrade offers a wide variety of accounts (some are only available to Canadian citizens), and customers can have multiple account types at the same time.
Demo accounts and free transfer of an existing account from another broker are also available.
Questrade is a broker that connects directly to exchanges, and also uses ECN (Electronic Communication Networks) and ATS (Alternative Trading Systems) technologies to quickly execute trades with minimal costs.
Deposit and withdrawal
Questrade received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
Questrade provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- No deposit fee
- No withdrawal fee
- Bank card deposits and withdrawals
- BTC available as a base account currency
- Minimum deposit above industry average
- Only major base currencies available
- Wise not supported
What are Questrade deposit and withdrawal options?
Questrade provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Neteller, BTC.
Questrade Deposit and Withdrawal Methods vs Competitors
Questrade | Plus500 | Pepperstone | |
Bank Wire | Yes | Yes | Yes |
Bank card | Yes | Yes | Yes |
PayPal | No | Yes | Yes |
Wise | No | No | No |
BTC | Yes | No | No |
What are Questrade base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Questrade supports the following base account currencies:
What are Questrade's minimum deposit and withdrawal amounts?
The minimum deposit on Questrade is $1000, while the minimum withdrawal amount is $100. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Questrade’s support team.
Markets and tradable assets
Questrade offers a wider selection of trading assets than the market average, with over 20000 tradable assets available, including 110 currency pairs.
- ETFs investing
- Passive income with bonds
- Indices trading
- Crypto trading not available
- Futures not available
Questrade Supported markets vs top competitors
We have compared the range of assets and markets supported by Questrade with its competitors, making it easier for you to find the perfect fit.
Questrade | Plus500 | Pepperstone | |
Currency pairs | 110 | 60 | 90 |
Total tradable assets | 20000 | 2800 | 1200 |
Stocks | Yes | Yes | Yes |
Commodity futures | No | Yes | Yes |
Crypto | No | Yes | Yes |
Stock indices | Yes | Yes | Yes |
Options | No | Yes | No |
Investment options
We also explored the trading assets and products Questrade offers for beginner traders and investors who prefer not to engage in active trading.
Questrade | Plus500 | Pepperstone | |
Bonds | Yes | No | No |
ETFs | Yes | Yes | Yes |
Copy trading | No | No | Yes |
PAMM investing | No | No | Yes |
Managed accounts | Yes | No | No |
Trading platforms & tools
Questrade received a score of 4.75/10, indicating a limited selection of trading platforms and tools. This reflects the absence of advanced platform options or a lack of additional features that could enhance the overall trading experience.
- Free VPS for uninterrupted trading
- Trading bots (EAs) allowed
- No TradingView integration
- No access to cTrader and its advanced tools.
- No one-click trading
Supported trading platforms
Questrade supports the following trading platforms: none. This selection covers the basic needs of most retail traders. We also compared Questrade’s platform availability with that of top competitors to assess its relative market position.
Questrade | Plus500 | Pepperstone | |
MT4 | No | No | Yes |
MT5 | No | No | Yes |
cTrader | No | No | Yes |
TradingView | No | Yes | Yes |
Proprietary platform | No | Yes | Yes |
NinjaTrader | No | No | No |
WebTrader | No | Yes | Yes |
Key Questrade’s trading platform features
We also evaluated whether Questrade offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features
2FA | Yes |
Alerts | No |
Trading bots (EAs) | Yes |
One-click trading | No |
Scalping | No |
Supported indicators | 120 |
Tradable assets | 20000 |
Additional trading tools
Questrade offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
Questrade trading tools vs competitors
Questrade | Plus500 | Pepperstone | |
Trading Central | No | No | No |
API | No | No | Yes |
Free VPS | Yes | No | Yes |
Strategy (EA) builder | No | No | Yes |
Autochartist | No | No | Yes |
Mobile apps
Questrade supports mobile trading, offering dedicated apps for both iOS and Android. Questrade received 5.86/10 in this section, which suggests limited user interest or weak performance of the apps.
- Mobile alerts supported
- Supports mobile 2FA
- Indicators not supported
- Weak user feedback on iOS
We compared Questrade with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
Questrade | Plus500 | Pepperstone | |
Total downloads | 500,000 | 10,000,000 | 100,000 |
App Store score | 2.5 | 4.7 | 4.0 |
Google Play score | 2.2 | 4.4 | 4.0 |
Mob. 2FA | Yes | Yes | Yes |
Mob. Indicators | No | Yes | Yes |
Mob. Alerts | Yes | Yes | Yes |
Education
There is no advanced training section on questrade.com. A FAQs section informs clients how they can best use the services of this broker and how they can solve problems that may arise.
The broker does not have cent accounts, so the only option to consolidate the knowledge gained in practice will be training on the Practice Account.
Customer support
Support service operators are available five days a week. Working hours: Monday-Friday, 7:30 am to 8:00 pm Eastern Standard Time.
Advantages
- You can ask a question without being a client of the company in the online chat
- There is support in three languages: English, French, and Chinese
Disadvantages
- No 24/7 support
Available communication channels with customer support specialists include:
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telephones;
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email — for questions related to the affiliate program;
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online chat on the website;
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feedback form.
Not only a registered client but also a trader without an active account can contact the support team.
Contacts
Foundation date | 1999 |
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Registration address | 5700 Yonge Street, Unit G1 Toronto, ON Canada M2M 4K2 |
Official site | https://www.questrade.com/ |
Contacts |
1.416.227.9876
|
Comparison of Questrade with other Brokers
Questrade | Bybit | Eightcap | XM Group | Vantage Markets | Octa | |
Trading platform |
Questrade (Mobile app), Questrade Global, Questrade IQ, Questrade Trading | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, TradingView, ProTrader, Vantage App | MetaTrader4, MetaTrader5, OctaTrader |
Min deposit | $1 | No | $100 | $5 | $50 | $25 |
Leverage |
From 1:1 to 1:20 |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:500 |
From 1:40 to 1:1000 |
Trust management | No | No | No | No | No | No |
Accrual of % on the balance | No | No | No | No | No | No |
Spread | From 0.8 points | From 0 points | From 0 points | From 0.8 points | From 0 points | From 0.6 points |
Level of margin call / stop out |
100% / 10% | No / 50% | 80% / 50% | 100% / 50% | 100% / 50% | 25% / 15% |
Order Execution | Market Execution | Market Execution | Market Execution | Market Execution | Market Execution | Market Execution |
No deposit bonus | No | No | No | No | No | No |
Cent accounts | No | No | No | No | No | No |
Detailed Review of Questrade
Questrade builds its work around the observance of three rules: focus on the customer, low commissions, and a wide range of investment instruments. Clients can make transactions on their own (self-directed investing) or they can contact the company’s experts to invest in the Questwealth portfolio they have created. This is a special tool that serves various purposes.
Questrade by the numbers:
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21 years in the brokerage market.
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$25 billion in assets under management.
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9-time winner of the Best Companies in Canada.
Questrade is a broker for long-term investment
Questrade’s clients do not have access to desktop and mobile terminals such as MetaTrader 4/5, but the broker has proprietary platforms such as Questrade Trading, Questrade Apps, Questrade Global, and IQ Edge, as well as 11 platforms from the broker’s partners. Such a wide range of platforms opens up the possibility of trading in different styles, with analysis of volumes, option curves, and other advanced features.
Questrade’s useful services:
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Intraday Trader. This is an intraday market scanner that monitors the emergence of patterns and notifies the user in real-time. The scanner was created by Recognia, the world leader in technical analysis. You can customize the scanner by patterns and securities.
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IPO Center. The broker gives you the possibility to buy initial shares listed on the exchange. Each month there are about 20 shares. For those interested, the broker sends out a bulletin describing the shares that are undergoing IPO.
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A subscription to various market data offers alerts based on specified criteria, observation lists.
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VectorVest is a partner share analysis and portfolio management service that analyzes, sorts, ranges, and displays over 23,000 shares daily to assess value and risk.
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Using the Questrade API, you can develop your own fully functional and analytical applications to work through your brokerage account.
Advantages:
There are nine asset classes available for trading and investing, such as stocks, bonds, options, currency pairs, precious metals, ETFs, mutual funds, guaranteed income certificates, energy CFDs, and other base assets.
Insurance coverage of up to CAD 10 million for Questrade Inc clients.
Access to trading 1800 ETFs of various classes.
Low commissions for the Questwealth portfolio.
Buy ETFs and reinvest dividend income without any trading fees.
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