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Is Questrade free?

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Adam N.
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Updated
Jan 2024
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Is Questrade free as of January 2024?

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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BrokerChooser score
4.5 4.5 /5
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Overview of Questrade fees and charges

When it comes to brokerage fees, Questrade is a mixed bag. To see how they may affect you, first you need to figure out your approach to trading - i.e. whether you are more of a buy-and-hold investor or if you want to trade frequently; or what type of assets and in what volumes you'll want to trade. Alternatively, use our questionnaire to help you tell whether Questrade fees are beneficial for you. Continue reading about Questrade fees and charges to see if this is the right broker for you, or if a similar broker like Qtrade Direct Investing or RBC Direct Investing might suit you better.

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, 2.1 pips 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 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 Direct Investing and RBC Direct Investing.

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Questrade trading fees

Questrade's trading fees are mixed, which means that some asset classes come with high trading fees - be sure to check these carefully.

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

Trading fees

Questrade's trading fees are average.

Stock fees and ETF fees

Questrade has low stock trading fees.

Stock fees of a $2,000 trade
US stock
$5.0
$8.8
$7.4
UK stock
-
-
-
German stock
-
-
-

Data updated on January 15, 2024

Forex fees

Questrade's forex fees are low.

Forex fees of a $20,000 30:1 position (open, 1-week-hold and close)
EURUSD benchmark fee
$13.1 -
-
EURGBP benchmark fee
$13.3 -
-

Data updated on January 15, 2024

Fund fees

Questrade fund fees are low.

Fees of a $2,000 fund purchase
Mutual fund
$10.0
$6.5
$0.0
EU mutual fund
-
-
-

Data updated on January 15, 2024

Bond fees

Questrade has low bond fees.

Fees of a $10,000 bond trade
US Treasury bond
$0.0
$25.0
$18.5
EU/UK government bond
-
-
-

Data updated on January 15, 2024

Options fees

Questrade's options fees are high.

Options fees for 10 contracts
US stock options
$20.0
$21.3
$16.6
US stock index options
$20.0
$21.3
$16.6
UK stock index options
-
-
-
German stock index options
-
-
-

Data updated on January 15, 2024

CFD fees

Questrade has high CFD trading fees.

CFD fees and commissions on a $2,000 trade
Apple CFD
$10.1
-
-
Vodafone CFD
$15.5
-
-
Germany
$14.1
-
-

Data updated on January 15, 2024

Currency conversion fee

Questrade will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: 1.99% mark-up.

Margin rates

Questrade margin rates are high.

Questrade margin rates
USD margin rate
13.0%
9.8%
9.8%
EUR margin rate
-
-
-

Data updated on January 15, 2024

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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
Withdrawal fee
$0
$0
$0
Deposit fee
$0
$0
$0
Inactivity fee
No
Yes
No
Account fee
No
Yes
Yes

Data updated on January 15, 2024

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BrokerChooser score
4.5 4.5 /5
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Questrade deposit fee

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

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

Data updated on January 15, 2024

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Questrade withdrawal fee

Questrade generally doesn't charge a withdrawal fee.

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

Data updated on January 15, 2024

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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

Adam Nasli

Financial Wizard | Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

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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