Questrade Alternatives

The best alternatives to Questrade are

1. Qtrade - Canadian stockbroker
2. RBC Direct Investing - Canadian discount stockbroker
3. TD Ameritrade - US-based stockbroker
4. Fineco Bank - Italian bank

Let's see in a bit more detail how the Questrade alternatives compare to Questrade and each other:

Why are these brokers considered good alternatives to Questrade? There are many areas based on which Questrade can be compared with others. When we say a given online broker is a good alternative to Questrade we mean these brokers are comparable in the following areas:

• The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
• The type of clients they target, i.e. beginners, experienced investors, or day traders.

Questrade alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

• Questrade is recommended for traders and investors focusing on the canadian and us markets
• Qtrade is recommended for investors, including beginners, who focus on the canadian and us markets
• RBC Direct Investing is recommended for investors, including beginners, focusing on the canadian and us markets
• TD Ameritrade is recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
• Fineco Bank is recommended for traders and investors looking for a great trading platform and a broker with a solid background

Important factors of finding Questrade alternatives

So far BrokerChooser has reviewed 91 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

• open a live account
• check over 100 criteria, with weighting based on readers' preferences
• refresh data regularly

Whether Questrade or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Questrade is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Questrade alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Questrade this is not a problem as you can have it ready on the same day you registered.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at Questrade, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Questrade alternative is a must.

Now let's dive into the details of how Questrade and its alternatives perform in the most important areas!

Qtrade is a Canadian stockbroker founded in 2000. It is regulated by the Investment Industry Regulatory Organization of Canada (IIROC).

Qtrade is considered safe because it has a long track record, offers high-level investor protection and is overseen by a top-tier regulator.

Recommended for investors, including beginners, who focus on the canadian and us markets

Visit broker

Fees

3.9

Qtrade charges low fees for stocks, ETFs, bonds and mutual funds, but options fees and margin rates are less impressive, and there is also a strict inactivity fee.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

Visit broker More

Account opening

4.4

Qtrade has an easy and fully digital account opening process, with no minimum deposit and plenty of account types, but the account verification process is relatively slow.

If you are interested more in Qtrade minimum deposit, this overview will help you.

Visit broker More

Deposit and withdrawal

3.0

Qtrade offers user-friendly and free deposit and withdrawal. Unfortunately, your options for both are quite limited, as you can only use bank transfer.

Visit broker More

Web trading platform

3.0

Qtrade has a basic web trading platform, with solid search, alert and order functions and portfolio reports. However, there's no two-step login, and the design feels outdated.

Learn more about Qtrade's web trading platform in the detailed Qtrade review.

Visit broker

Markets and products

2.7

Qtrade 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.

Visit broker More

Verdict

Qtrade offers competitive stock, ETF, bond, and mutual fund fees. The account opening process is easy and fully digital. Qtrade's education resources are outstanding, with many relevant and useful tools.

Qtrade does, however, have its downsides. The biggest one is its product portfolio, which covers only the US and Canadian markets. Other areas for improvement include missing credit/debit card and e-wallet integration for money transfers, and some bugs in its user interfaces.

Since Qtrade has great trading fees, easy account opening and top-quality educational tools, feel free to give it a try today.

Visit broker More

RBC Direct Investing is the brokerage division of the Royal Bank of Canada, which was founded in 1864. It is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF).

RBC Direct Investing is considered very safe because it has a long track record, is listed on the stock exchange, has a banking background, discloses its financials and is regulated by a top-tier financial authority.

Recommended for investors, including beginners, focusing on the canadian and us markets

Visit broker

Fees

3.8

RBC Direct Investing has no mutual fund fees and low non-trading fees. However, withdrawals are only free for RBC banking clients, while there is also an account fee under a certain account balance.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

Visit broker More

Account opening

3.9

RBC Direct Investing has an easy, fully digital and fast account opening, with no minimum deposit. However, account opening for non-RBC bank clients is more complicated.

If you are interested more in RBC Direct Investing minimum deposit, this overview will help you.

Visit broker More

Deposit and withdrawal

2.4

Withdrawals and deposits are free if you have a bank account with RBC. On the other hand, credit/debit cards and electronic wallets are not available and most withdrawal options carry a fee if you are not an RBC bank client.

Visit broker More

Web trading platform

2.9

RBC Direct Investing does a great job of covering the basics, and has clear fee reports. On the other hand, there is no two-step login and the design feels outdated.

Learn more about RBC Direct Investing's web trading platform in the detailed RBC Direct Investing review.

Visit broker

Markets and products

2.3

You can trade multiple asset types, but some important ones like forex or CFDs are not available. The offering is also limited to the Canadian and US markets.

Visit broker More

Verdict

RBC Direct Investing is regulated by the top-tier IIROC. Its parent company, the Royal Bank of Canada has a banking license and is listed on the stock exchange. It offers an easy, fully digital and fast account opening for clients who already bank with RBC. Education resources are outstanding, providing a lot of relevant and useful tools. Customer service provides fast and relevant answers.

There are some drawbacks, though. The product portfolio covers only the US and Canadian markets, you can't use credit/debit cards or electronic wallets for money transfer, and the mobile app is in desperate need of an update.

Overall, since RBC Direct Investing has great account opening, advanced research and education tools, feel free to give them a try.

Visit broker More

This TD Ameritrade Review concludes that it is recommended for investors and experienced traders looking for solid research and a well-equipped desktop trading platform, the Thinkorswim platform.

It is one of the biggest US-based stockbrokers, founded in 1975. As an online broker, it is regulated by top-tier authorities like the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).

It is considered to be a safe broker as it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials, and is overseen by top-tier regulators.

Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform

Visit broker

Fees

4.3

TD Ameritrade offers free stock and ETF trading, while forex, bond and options fees are also low. On the other hand, it charges high fees for futures.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

Visit broker More

Account opening

3.6

TD Ameritrade offers many different account types, and there is no minimum deposit for US citizens.

If you are interested more in TD Ameritrade minimum deposit, this overview will help you.

Visit broker More

Deposit and withdrawal

2.2

The account funding is user-friendly with no deposit fees, but USD is the only available base currency, and wire transfers incur a high fee.

Visit broker More

Web trading platform

4.3

TD Ameritrade offers a good web trading platform with a clean design. On the flip side, the platform is not customizable.

Learn more about TD Ameritrade's web trading platform in the detailed TD Ameritrade review.

Visit broker

Markets and products

4.0

You can trade many asset classes, from stocks to futures and forex, while nice extras include social trading and robo-advisory. On the other hand, only the US market is covered.

Visit broker More

Verdict

It is one of the biggest US online brokers. It charges no commission on stock and ETFs.

Research and education are outstanding, the Thinkorswim desktop platform is one of the best on the market. Customer service is great.

The drawbacks are that it charges high financing (margin) rates, and it doesn't accept credit/debit cards and electronic wallets for money transfers. Furthermore, the product portfolio covers only the US markets.

We definitely recommend giving it a try, especially as their education tools include a demo as well.

Visit broker More

Fineco Bank is an Italian bank, founded in 1999. It is regulated by the Bank of Italy, the Commissione Nazionale per le Società e la Borsa (Consob), and also subject to limited regulation by the UK's Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).

Fineco Bank has a banking license, is listed on the Italian stock exchange (Borsa Italiana), and is a constituent of the STOXX Europe 600 stock index.

At the time of our review, Fineco Bank accepted customers from the UK and Italy only. The service is slightly different for UK and Italian customers, e.g. fees are different. In this review, we tested the company's UK services, but we'll highlight all relevant information for Italian customers as well.

Fineco Bank is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, and discloses its financials transparently.

Recommended for traders and investors looking for a great trading platform and a broker with a solid background

Visit broker

Fees

3.4

Fineco Bank has low stock and ETF fees, and no inactivity or withdrawal fees. However, forex fees are high, and holding positions overnight (i.e. financing rates) are also expensive.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

Visit broker More

Account opening

4.4

Fineco Bank's account opening is fully digital, and no minimum deposit is required. Account verification can be on the slow side, taking as much as 2 business days.

If you are interested more in Fineco Bank minimum deposit, this overview will help you.

Visit broker More

Deposit and withdrawal

3.3

Fineco Bank offers a great variety of account base currencies, and deposits are free. On the negative side, you can't use credit/debit cards or electronic wallets for deposit.

Visit broker More

Web trading platform

4.3

Fineco Bank has a great web trading platform. It's well-designed and offers many features, including a convenient search function. However, the platform is not customizable.

Learn more about Fineco Bank's web trading platform in the detailed Fineco Bank review.

Visit broker

Markets and products

3.8

Fineco Bank has a wide product portfolio; from real stocks to CFDs, you can trade many asset classes. However, its selection of mutual funds and certain derivatives is limited.

Visit broker More

Verdict

Fineco Bank is a great service provider for trading and investing. It has a solid background as a bank, and its status is further strengthened by its listing on the Borsa Italiana. It is also a constituent of the Stoxx Europe 600 stock index.

Fineco Bank has low non-trading fees: there is no fee for inactivity, deposit or withdrawal. We also liked Fineco's mobile trading platform because of its user-friendliness.

However, Fineco Bank's deposit options, educational material and charting tools are limited.

As you can trade many products at a low cost and no inactivity fee is charged, feel free to give Fineco Bank's brokerage service a try.

Visit broker More

Questrade, founded in 1999, is one of the most popular brokerage firms in Canada. It is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF).

Questrade is considered safe because it has a long track record and is regulated by a top-tier regulator.

Recommended for traders and investors focusing on the canadian and us markets

Fees

3.8

Questrade has competitive fees for stocks, ETFs, funds and forex trading. However, margin rates are slightly at the higher end.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k

Account opening

3.8

For Canadian citizens, opening an account at Questrade is easy and fully digital. However, there is a high minimum deposit of $1,000.

Learn more about Questrade minimum deposit here.

Deposit and withdrawal

2.7

Deposits and withdrawals are free and user-friendly with electronic transfer for Canadians. However, the process is expensive for non-Canadians and non-Visa debit cards are not available.

Web trading platform

3.8

Questrade's web trading platform offers a simple, intuitive design, a wide variety of order types and price alerts. However, its customizability is limited and the fee reports are not clear.

Learn more about Questrade's web trading platform in the detailed Questrade review.

Markets and products

4.2

At Questrade, you can trade almost all asset classes except futures and cryptos. The product portfolio covers only the US and Canadian markets, though.

Verdict

Questrade is among the fastest-growing online brokerage firms in Canada. Its stock and ETF fees are low, research tools are advanced and customer service is outstanding.

Questrade has some shortcomings as well. Even though the account opening process for Canadians is quick and easy, it's slow and time-consuming if you are not Canadian. You can face high withdrawal fees if you are not a Canadian citizen and there are only USD and CAD as account base currencies.

Since Questrade has advanced research tools and offers great customer service, feel free to give it a try.

Based on our analysis, there are several good alternatives to Questrade. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.