Is Questrade free?

Questrade does charge a commission for real stock trading on US markets, so in this sense it is not a free-to-trade broker. However, it might still be a reasonable choice for some of you, as there are many other aspects other than commissions that are important when you choose a broker. If you wish to stick with Questrade though, then you will find the fees they charge below. Alternatively, you could check our article detailing the best zero commission brokers and how their apps scored in our test.

We should note that the payment-for-order-flow model, which is used by some zero-commission brokers to generate income (rather than relying on commissions), could potentially create a conflict of interest between you and your broker. This could result in trade execution (like routing your orders to specific market makers) that might be unfavorable for you under certain market conditions, especially when using market orders (as opposed to limit orders, which seem to be less affected).

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Questrade fees
Overview of Questrade fees and charges

It's safe to say that Questrade's fees are low in general. They either don't charge a brokerage fee for things that other brokers do, or they only charge a small amount.

Here's a high-level overview of Questrade's fees

Questrade Fees snapshot
Assets Fee level Fee terms
US stock fee Low $0.01 per share, min $4.95, max $9.95; buying ETFs is free, selling costs $0.01 per share
EURUSD fee Low The fees are built into the spread, 1 pip is the average spread cost during peak trading hours.
US mutual fund fees Low $9.95 per trade
Inactivity fee Low No inactivity fee

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Questrade fees
Questrade fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.

This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
    • A commission is either fixed or based on the traded volume.
    • A spread is the difference between the buy price and the sell price.
    • A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.

We compare Questrade fees with its closest competitors, Qtrade and RBC Direct Investing.

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Questrade fees
Questrade trading fees

Questrade's trading fees are low, which makes it suitable for you even if you trade often (i.e. several times a week).

Let's break down trading fees according to the different asset classes available at Questrade.

Trading fees

Questrade's trading fees are low.

Stock fees and ETF fees

Questrade has low stock trading fees.

Stock fees of a $2,000 trade
Questrade Qtrade RBC Direct Investing
US stock $5.0 $7.0 $8.0
UK stock - - -
German stock - - -

Forex fees

Questrade's forex fees are low.

Forex fees of a $20,000 30:1 position (open, 1-week-hold and close)
Questrade Qtrade RBC Direct Investing
EURUSD benchmark fee $8.1 - -
EURGBP benchmark fee $9.6 - -

Fund fees

Questrade fund fees are low.

Fees of a $2,000 fund purchase
Questrade Qtrade RBC Direct Investing
Mutual fund $10.0 $0.0 $0.0
EU mutual fund - - -

Bond fees

Questrade has low bond fees.

Fees of a $10,000 bond trade
Questrade Qtrade RBC Direct Investing
US Treasury bond $0.0 $20.0 $20.0
EU government bond - - -

Options fees

Questrade's options fees are high.

Options fees for 10 contracts
Questrade Qtrade RBC Direct Investing
US stock options $20.0 $17.0 $18.0
US stock index options $20.0 $17.0 $18.0
UK stock index options - - -
German stock index options - - -

CFD fees

Questrade has average CFD trading fees.

CFD fees and commissions on a $2,000 trade
Questrade Qtrade RBC Direct Investing
Apple CFD $10.1 - -
Vodafone CFD $17.0 - -
Germany $14.1 - -

Margin rates

Questrade margin rates are high.

Questrade margin rates
Questrade Qtrade RBC Direct Investing
USD margin rate 7.0% 4.5% 4.5%
EUR margin rate - - -

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Questrade fees
Questrade non-trading fees

When it comes to non-trading fees, Questrade is a rather cheap broker.

Non-trading fees include various brokerage fees and charges at Questrade that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.

A high-level overview of how Questrade stacks up in terms of non-trading fees
Questrade Qtrade RBC Direct Investing
Withdrawal fee $0 $0 $0
Deposit fee $0 $0 $0
Inactivity fee No Yes No
Account fee No Yes Yes

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Questrade fees
Questrade deposit fee

Usually, brokers don't charge anything for deposits, and Questrade is no different.

Questrade deposit methods
Questrade Qtrade RBC Direct Investing
Bank transfer Yes Yes Yes
Credit/debit card Yes No No
Electronic wallets Yes No No
Deposit fee $0 $0 $0

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Questrade fees
Questrade withdrawal fee

Questrade generally doesn't charge a withdrawal fee.

Questrade withdrawal fees and options compared
Questrade Qtrade RBC Direct Investing
Bank transfer Yes Yes Yes
Credit/debit card Yes No No
Electronic wallets Yes No No
Withdrawal fee for bank transfer $0 $0 $0

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Questrade fees
Questrade inactivity fee

Questrade does not apply an inactivity fee, which is great because your account won't be charged even if you do not trade for an extended period (like several months or years).

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Author of this article

Bence Komáromi

Author of this article

Bence is a finance professional and a former media executive. Currently he works at Morgan Stanley's brokerage and clearing department as a trading fees controller in Budapest, Hungary.

Bence Komáromi

guest writer

Bence is a finance professional and a former media executive. Currently he works at Morgan Stanley's brokerage and clearing department as a trading fees controller in Budapest, Hungary.

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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