In Canada, there are plenty of investment trading companies to choose from. While some investors prefer to deal with a mainstream financial institution, like their bank or credit union, independent platforms like Qtrade Direct Investing™ and Questrade are becoming increasingly popular for those looking to invest their savings wisely.
Below we’re comparing Qtrade to Questrade to help you decide which investment platform is the right fit for your investing goals.
As mentioned, Qtrade and Questrade are two popular online-based Canadian investment brokerages that can help you create a portfolio, execute trades, and access various investment accounts, with reasonable fees and plenty of options:
Qtrade Direct Investing is an online brokerage that was launched in 2001 to offer Canadians a way to achieve their investment goals at no minimum account balance. It is a self-directed online trading platform that is easy to use and features a number of powerful research tools that will allow users to make better investment decisions. With Qtrade Direct Investing, users can trade ETFs (Exchange-Traded Funds), stocks, options, mutual funds, bonds, GIC, and other securities at low commission rates of $6.95 – $8.75 per regular trade.
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Questrade is an online trading platform that was launched in 1999. They are headquartered in Toronto, ON and currently has $8 billion in assets. They allow Canadians to start investing with as little as $1,000. Users can choose to build their own investment portfolio through their Self Directed Investing platform or have it created and managed through Questrade’s Questwealth Portfolios. Regardless of which you choose, you’ll be able to invest in a variety of investment types including stocks, ETFs, options, mutual funds, bonds, GICs, IPOs, international equities and precious metals.
Qtrade Direct Investing and Questrade Self Directed Investing are both “self-directed” trading platforms that offer you complete control over your investments.
To start trading, you simply need to create a Qtrade or Questrade account, build your portfolio, check out their investment options and start trading.
You can start investing using Qtrade in 3 simple steps:
To open a Questrade Self Directed Investing account, you’ll simply need to follow these steps:
Interested in investing today. Check out our beginner’s guide on investing money.
| Qtrade | Questrade | |
| Trading Fees | – Stocks: $6.95 or $8.75/trade – Options: $6.95 or $8.75 + $1.25 per contract – ETFs: $6.95 or $8.75/trade (100+ free ETFs) | – Stocks: $0.01 per share (min. $4.95 – max. $9.95 & ECN fees may apply) – Options: $9.95 + $1 per contract – ETFs: Free ($00.1 per share to sell) |
| Account Fees | $25 per quarter (can be waived if you meet certain conditions) | None |
| Minimum Balance | $0 | $1,000 |
| Investment Types | – Stocks – Options – ETFs – Mutual funds – Bonds – GICs – Other securities | – Stocks – Options – ETFs – Mutual funds – Bonds – GICs – IPOs – International equities – Precious metals |
| Accounts Offered | TFSA, RRSP, RESP, LIRA, LIF, cash, margin, corporate | TFSA, RRSP, RESP, LIRA, LIF, LRSP, cash, margin, corporate |
Since Qtrade and Questrade have been around for a long time, it can be tough to decide which company will best suit your needs. Here are a few key features of both these investment trading platforms so you’ll have an easier time making your choice:
Both Qtrade and Questrade offer all the popular investment accounts that Canadian investors want. Users will be able to choose from non-register accounts as well as registered accounts:
Furthermore, if you’re looking for a more specific type of investment account both companies other, margin, corporate, joint, and USD accounts.
One of the reasons why some investors might choose Questrade over Qtrade is because they have a slightly larger variety of accounts. Here are some of the alternatives they offer, that Qtrade doesn’t:
Qtrade is slighlty more affordable when it comes to their commission fees. That said, there are certain cost-related areas where Questrade excels over Qtrade. Here’s a quick comparison:
| Accounts Available | Qtrade Fees (Per Trade) | Questrade Fees (Per Trade) |
| Stocks | $6.95 – $8.75 | $0.01 per share (min. $4.95 – max. $9.95 & ECN fees may apply) |
| ETFs | $6.95 – $8.75 (or choose from 100+ free ETFs) | – Free to buy– $0.01 per share ($4.95 min – $9.95 max) to sell |
| Options | $6.95 – $8.75 (+$2.50 per contract) | $9.95 (+$1.00 per contract) |
| Mutual Funds | No Fee | $9.95 |
| International Equities | Not an option | 1% of trade value (minimum of $195.00) |
| Precious Metals | Not an option | $19.95 USD per trade |
| Bonds, IPOs, GICs | Variable | Free (with $5,000 minimum purchase) |
As you can see, there are plenty of things to enjoy about Qtrade or Questrade and just as many reasons to choose one platform over the other. After all, both platforms are known to have excellent customer service, research tools, and investment opportunities.
Overall, many investors choose Qtrade simply because their regular trading costs are a bit lower than Questrade. However, the fact that Questrade offers more investment options and charges zero yearly fees can balance out the equation for many. In the end, it all boils down to your personal preferences and how experienced you are as a trader.
Online brokerage services are offered through Qtrade Direct Investing, a division of Credential Qtrade Securities Inc. Qtrade and Qtrade Direct Investing are trade names and trademarks of Aviso Wealth.
Rating of 5/5 based on 4 votes.
Bryan is a graduate of Dawson College and Concordia University. He has been writing for Loans Canada for five years, covering all things related to personal finance, and aims to pursue the craft of professional writing for many years to come. In his spare time, he maintains a passion for editing, writing screenplays, staying fit, and travelling the world in search of the coolest sights our planet has to offer.
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