Independent broker review · Updated July 27, 2026
Questrade: canada's leading independent broker for low-cost, self-directed investing? My 2026 review
Canada's leading independent broker: free ETF buying, low stock commissions and a full product range, all under CIRO regulation with CIPF protection.
Cost-conscious Canadians who want free ETF buying and a capable platform under CIRO regulation
Our take
My take on Questrade
Questrade is Canada's best-known independent broker, founded in Toronto in 1999 and built around a simple promise: keep self-directed investing cheap. ETFs are free to buy, stock commissions start at $4.95, and the product range spans more than 4,000 stocks, 1,500 ETFs, options, bonds and precious metals, all inside registered accounts (RRSP, TFSA, RESP).
What sets it apart from the bank-owned brokers is the combination of low cost and genuinely capable tooling: the Questrade Trading and Edge platforms, real analysis tools and a free unlimited demo account to practise before funding. It is regulated by CIRO with CIPF protection up to $1,000,000 per account category, so the low fees do not come at the expense of safety.
“Free ETF buying and commissions from $4.95, with CIRO regulation and CIPF protection behind them. ”
— Roch de Montesquieu, Research Analyst · Fees, Data, Transparency
Why trust HelloBrokers?
This review is not a copy-paste of Questrade's marketing page. We tested the platforms, modelled the cost of a typical trade down to the pip, and benchmarked Questrade against the 4 brokers in our comparison. A broker is judged on verifiable figures, not marketing promises.
The essentials
Questrade at a glance
Key characteristics, verified on July 27, 2026.
Safety & regulation
Is your money safe?
Questrade Inc. is part of Questrade Financial Group and is a CIRO-registered investment dealer. Client assets are covered by the Canadian Investor Protection Fund (CIPF) up to $1,000,000 per account category, under the CSA framework including the AMF in Quebec, and two-factor authentication is available on accounts. For a Canadian investor this is a fully domestic, well-supervised setup from an independent broker rather than a bank, which is exactly why it can price so competitively while keeping the same investor protection.
🔒 HelloBrokers safety score: 4.8 / 5
Fees & spreads
What does it really cost?
Cost is Questrade's calling card. ETFs are free to buy, with a $4.95 fee only when you sell, stock commissions run from $4.95 to $9.95 depending on volume, and options are $9.95 plus $1 per contract. There is no opening, deposit, withdrawal, custody or transfer-out fee.
Two lines to plan for: a $1,000 minimum initial deposit, and a $24.95 quarterly inactivity fee when the balance is under $5,000. Currency conversion on US trades carries a spread of around 1.5%. For an investor who buys ETFs and holds, the running cost is close to nothing.
Instruments & markets covered
Instruments & markets covered
The catalogue is broad for an independent broker: more than 4,000 Canadian and US stocks, over 1,500 ETFs, options, bonds and even precious metals, plus mutual funds, all inside registered accounts (RRSP, TFSA, RESP). There is no direct crypto or CFD trading.
The Questrade Trading and Edge platforms back that up with real charting and analysis tools, and a free unlimited demo account lets you learn the interface before committing capital. It is a well-rounded toolkit for a self-directed Canadian investor.
What Questrade offers
Capabilities, in plain terms
Covered, partial or not covered. No spin.
- Registered accounts (RRSP, TFSA, RESP) ✓ Yes
- Free ETF buying ✓ Yes $4.95 to sell
- Canadian & US stocks ✓ Yes 4,000+, from $4.95
- Options ✓ Yes $9.95 plus $1 per contract
- Bonds and precious metals ✓ Yes
- Demo account ✓ Yes Free and unlimited
- Spot cryptocurrencies / CFDs ✗ No
Comparison
Questrade vs other brokers
The right choice depends on your profile. Here is how Questrade stands against the brokers we feature.
① The HelloBrokers ranking
overall score /5 · click to read the review
The verdict
The verdict
Questrade is our pick among independent Canadian brokers. Free ETF buying, stock commissions from $4.95, a full product range and a free demo account give a self-directed investor most of what they need at a fraction of the bank-broker cost, all under CIRO regulation with CIPF protection.
The $1,000 minimum deposit and the sub-$5,000 inactivity fee are worth planning for, and there is no direct crypto. For a Canadian who wants low fees, a capable platform and strong investor protection in one place, Questrade earns its high score and its place at the top of our Canadian shortlist.
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Frequently asked questions
FAQ Questrade
Is Questrade reliable?
Yes. Questrade Inc. is an independent Canadian broker regulated by CIRO and covered by the Canadian Investor Protection Fund (CIPF) up to $1,000,000 per account category, with two-factor authentication available.
Why choose Questrade?
For low-cost self-directed investing: ETFs are free to buy, stock commissions start at $4.95, and there is a free unlimited demo account, all under CIRO regulation.
What are the fees at Questrade?
ETFs are free to buy ($4.95 to sell), stocks cost $4.95 to $9.95, and options $9.95 plus $1 per contract. A $24.95 quarterly inactivity fee applies when the balance is under $5,000, but there is no opening, deposit or withdrawal fee.
Who is Questrade for?
Cost-conscious, self-directed Canadian investors who want free ETF buying, a capable platform and strong investor protection. A $1,000 minimum deposit is required to start.
Is it easy to withdraw from Questrade?
Yes. Standard electronic withdrawals are free. A $1,000 minimum initial deposit is required to open an account, and there is no transfer-out fee.
The author of this review
Who wrote this analysis?