Questrade Review

Questrade Logo

Questrade was established in 1999 to provide Canadian investors with online brokerage services, including simple and affordable self-directed investing and managed investments, with a range of investment choices for all types of investors, goals, and risk levels. The broker offers a wide range of financial products, such as stocks, ETFs, IPOs, mutual funds, metals, Options, and cryptocurrency, with flexible trading platforms, different account types, and competitive trading fees. They have billions of dollars’ worth of assets under their management and have been named Canada’s Best Managed Company for 8 consecutive years. However, the broker accepts only a limited account funding options.

Questrade Review Introduction

In this Questrade review, we will take a look at some of the most important factors worth considering when choosing a trading broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.

You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare brokers including Questrade.

Questrade Platforms & Tools

Questrade provides their clients with a choice of flexible trading platforms, including Questrade Trading Platform, Questrade Mobile App, and IQ Edge Platform. Questrade Trading Platform is a web-based trading platform with a range of built-in advanced charting and research tools, while IQ Edge Platform is an installable desktop application for Windows and Mac computers, provided only to active and pro traders.

Questrade Review - Trading Platform
Questrade Review – Trading Platform

In addition to the tools that come with the platform, the broker provides different market data packages for different levels of traders, well as other useful trading tools, such as Market Intelligence, Intraday Trader, IPO Center.

Questrade Review - IQ Edge Platform
Questrade Review – IQ Edge Platform

Questrade Research & Education

The broker provides a few educational resources via their investment blog and webinar videos. Their investment blog contains some investment articles and stories to help you learn more about investing, while the webinar videos cover a good number of investing topics.

Questrade Review - Market Intelligence
Questrade Review – Market Intelligence

Questrade Trading Accounts

Questrade has a variety of account types to choose from. The initial minimum investment is $1,000, but trading fees vary with the financial products traded. Other fees may apply, including inactivity fees.

There are 2 categories of accounts:

  • Self-directed accounts: For those who want to manage their investment portfolio by themselves. There are various options, such as margin accounts, tax-free savings account (TFSA), registered retirement savings plan (RRSP), and forex & CFD account.
  • QuestWealth Portfolio account: For managed funds. This account offers a pre-built portfolio according to the investor’s risk preferences.

Questrade Account Funding

The broker offers a few different ways to fund your account, and you can open operate a USD account or a Canadian dollar account. Bank transfer seems to be the most popular option, and they do not accept online payment processors like PayPal, Skrill, and Neteller.

Questrade Customer Service

Questrade provides prompt customer support services to their clients via online chat, telephone, and email. They are available during trading hours.

Questrade Regulation

Questrade is the brand name for Questrade Group of Companies, which consists of Questrade Wealth Management Inc. (QWM) and Questrade, Inc. The Questrade Wealth Management Inc., which oversees the managed accounts, is a registered Portfolio Manager, Investment Fund Manager, and Exempt Market Dealer. Questrade, Inc. handles self-directed investors and is registered as an investment dealer with the Investment Industry Regulatory Organization of Canada (IIROC) — the Canadian authority that regulates brokerage firms. However, QWM is not a member of IIROC.

Questrade Review Summary

Questrade is an online broker that serves only Canadian investors, offering a range of financial products, flexible trading platforms, market research tools, and competitive fees. However, their funding options are limited.

It is worth mentioning that some of the trading products and services in this Questrade review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Questrade broker website which you can visit by using the link below.

Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.

Questrade

6.3

Spreads

5.5/10

Liquidity

5.5/10

Commissions

5.5/10

Support

7.0/10

Regulation

8.0/10

Features

  • A variety of tradable assets
  • Flexible trading platforms
  • Market research tools
  • A number of educational materials