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Qtrade Direct Investing Logo
Written by: Oskar G. Updated: Dec 2022
Expert verified
Recommended for
  • beginners
Trusted broker
Regulated by top-tier financial authorities
Popularity
185 people chose this broker in the last 6 months
BrokerChooser Score
4.2/5

Qtrade Direct Investing review summary

Qtrade is a Canadian stockbroker regulated by the top-tier IIROC. Qtrade Direct Investing's strengths include low trading fees for many asset classes including stocks, ETFs, bonds and mutual funds. Opening an account is easy, with several account types at your disposal. Qtrade Direct Investing also offers high-quality educational tools. It is a good choice for beginner investors. On the other hand, Qtrade Direct Investing's products cover only the Canadian and US markets. Trading fees for some products are high. The lack of credit/debit card or electronic wallet integration limits deposit and withdrawal options. BrokerChooser gave Qtrade Direct Investing a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.

Qtrade Direct Investing is a regulated broker, it is overseen by a top-tier financial regulator in Canada . Qtrade Direct Investing is also covered by investor protection and it offers negative balance protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

You can't open an account at Qtrade Direct Investing if you live in United States. See the best alternative available in your country.

Qtrade Direct Investing pros and cons

Pros Cons
Low trading fees Only Canadian and US markets covered
Easy account opening High trading fees for some products
Solid educational tools Credit/debit cards, e-wallets not accepted

Qtrade Direct Investing main highlights

🗺️ Country of regulation Canada
💰 Trading fees class Average
💰 Inactivity fee charged Yes
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1-3 days
💳 Deposit with bank card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 2
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, Fund, Bond, Options, GICs
To read much more details about the broker's services and features, expand on the sections below.

Qtrade Direct Investing review
Fees

3.3
Qtrade Direct Investing charges low fees for stocks, ETFs, bonds and mutual funds, but options fees and margin rates are high, and there is also an inactivity fee.
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Qtrade Direct Investing review
Account opening

4.2
Qtrade Direct Investing has an easy and fully digital account opening process, with no minimum deposit and plenty of account types.
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Qtrade Direct Investing review
Deposit and withdrawal

3.0
Qtrade Direct Investing offers user-friendly and free deposit and withdrawal. Unfortunately, your options for both are quite limited, as you can only use bank transfer.
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Qtrade Direct Investing review
Web trading platform

3.5
Qtrade Direct Investing has rebranded its web trading platform, which has solid search, alert and order functions and portfolio reports. A safer, two-step login is now also available.
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Qtrade Direct Investing review
Mobile trading platform

3.0
Qtrade Direct Investing's mobile app is very similar to the web platform in design and functions. However, there are no price alerts and we experienced glitches during testing.
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Qtrade Direct Investing review
Desktop trading platform

Qtrade Direct Investing does not have a desktop trading platform.
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Qtrade Direct Investing review
Markets and products

2.9
Qtrade Direct Investing covers only the Canadian and US markets. You can trade basic asset classes like stocks, ETFs or mutual funds, but forex, futures, CFDs and cryptos are not available.
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Qtrade Direct Investing review
Research

3.0
Qtrade Direct Investing offers analyst recommendations, fundamental data and screeners, but its charting and other analytic tools are very basic, and the design of the research section is outdated.
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Qtrade Direct Investing review
Customer service

2.3
Qtrade Direct Investing provides excellent telephone and email support, but they're not available 24/7, and there is no live chat.
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Qtrade Direct Investing review
Education

4.0
Qtrade Direct Investing offers many traditional education tools such as tutorials, strategic videos and a platform experience account. However, some of these are hard to find or not updated on a regular basis.
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Qtrade Direct Investing review
Safety

Qtrade Direct Investing is regulated by the top-tier IIROC, offers strong investor protection and has a solid corporate background. On the negative side, it is not listed on a stock exchange.
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Qtrade Direct Investing review
Bottom line

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Qtrade Direct Investing review
FAQ

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Author of this review

Oskar Golebiowski

Author of this review

Oskar's goal is to bring transparency to investors in the Canadian stock brokerage market. With a bachelor’s degree in finance and over 3 years of business experience, Oskar has tested many different investing platforms in the past. His aim is to provide unbiased and honest reviews of the best tools available to Canadian investors.

Oskar Golebiowski

Canadian broker expert

Oskar's goal is to bring transparency to investors in the Canadian stock brokerage market. With a bachelor’s degree in finance and over 3 years of business experience, Oskar has tested many different investing platforms in the past. His aim is to provide unbiased and honest reviews of the best tools available to Canadian investors.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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