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Questrade Alternatives

Written by
Adam N.
Fact checked by
Updated
Jul 2023
Our top alternative brokers to Questrade

The best alternatives to Questrade are

  1. Qtrade Direct Investing - Canadian stockbroker
  2. RBC Direct Investing - Canadian discount stockbroker
  3. TD Ameritrade - US-based stockbroker
  4. Interactive Brokers - International broker providing all asset classes

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

Questrade alternatives comparison
Overall score
4.5 stars 4.1 stars 4.1 stars 4.8 stars 4.9 stars
Fees score
3.5 stars 3.3 stars 3.5 stars 4.1 stars 4.4 stars
Account opening score
3.5 stars 4.2 stars 3.7 stars 4.0 stars 3.2 stars
Deposit and withdrawal score
2.7 stars 3.0 stars 2.4 stars 2.2 stars 3.0 stars
Web platform score
3.8 stars 3.5 stars 2.9 stars 4.3 stars 3.8 stars
Markets and products score
4.6 stars 2.9 stars 2.4 stars 3.8 stars 5.0 stars
Visit broker Visit broker Visit broker Visit broker

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 Direct Investing 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
  • Interactive Brokers is recommended for traders looking for broad market access and a professional trading environment

Important factors of finding Questrade alternatives

So far BrokerChooser has reviewed 102 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. The amounts Questrade charges you are considered average. When picking an alternative, you could prioritize brokers that are cheaper than Questrade.

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 Direct Investing

Qtrade is a Canadian stockbroker regulated by the top-tier CIRO. 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 4.1/5 rating based on analyzing 500+ criteria and testing via opening a live account.

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

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Qtrade Direct Investing vs. Questrade: Trading fees
US stock
$8.8
$5.0
Qtrade Direct Investing vs. Questrade: Minimum deposit, time to open an account
Minimum deposit
$0
$1,000
Time to open account
1-3 days 1 day

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

Qtrade Direct Investing vs. Questrade: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
No No
Electronic wallets
No Yes
Withdrawal fee
$0
$0
Web trading platform of Qtrade Direct Investing, a Questrade alternative
Qtrade Direct Investing vs. Questrade: Trading platform scores
Web platform score
3.5 stars 3.8 stars
Mobile platform score
3.0 stars 4.8 stars
Desktop platform score
- 4.3 stars

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

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Qtrade Direct Investing vs. Questrade: Markets and products
Stocks
Yes Yes
ETFs
Yes Yes
Forex
No Yes
Funds
Yes Yes
Bonds
Yes Yes
Options
Yes Yes
Futures
No No
CFDs
No Yes
Crypto
No No

RBC Direct Investing

RBC Direct Investing is a Canadian stockbroker regulated by the top-tier CIRO. RBC Direct Investing is an established company with a banking background and fast account opening for RBC banking clients. Customer service is reliable and quick, while education resources are also great, covering a lot of tools, including a demo account. It is a good choice for beginner investors. RBC Direct Investing's most obvious weakness is its outdated mobile trading app. Also, the product portfolio covers only the US and Canadian markets, and withdrawal and deposit options are limited. BrokerChooser gave RBC Direct Investing a 4.1/5 rating based on analyzing 500+ criteria and testing via opening a live account.

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

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RBC Direct Investing vs. Questrade: Trading fees
US stock
$7.4
$5.0
RBC Direct Investing vs. Questrade: Minimum deposit, time to open an account
Minimum deposit
$0
$1,000
Time to open account
1-3 days 1 day

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

RBC Direct Investing vs. Questrade: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
No No
Electronic wallets
No Yes
Withdrawal fee
$0
$0
Web trading platform of RBC Direct Investing, a Questrade alternative
RBC Direct Investing vs. Questrade: Trading platform scores
Web platform score
2.9 stars 3.8 stars
Mobile platform score
0.7 stars 4.8 stars
Desktop platform score
- 4.3 stars

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

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RBC Direct Investing vs. Questrade: Markets and products
Stocks
Yes Yes
ETFs
Yes Yes
Forex
No Yes
Funds
Yes Yes
Bonds
Yes Yes
Options
Yes Yes
Futures
No No
CFDs
No Yes
Crypto
No No

TD Ameritrade

TD Ameritrade is one of the biggest stockbrokers in the US with a wide range of asset classes and commission-free stock trading.

Its trading platform - Thinkorswim - is exceptional, account opening is user-friendly, and no minimum deposit is required.

Be aware, though, that TD Ameritrade is only available in a few countries outside the US, and you can only trade on US markets.

TD Ameritrade has been acquired by US peer Charles Schwab. Existing TD clients are being migrated to Charles Schwab, with the process scheduled to be fully completed in 2024. In most cases, it makes sense to open a new account at Schwab, since most of TD Ameritrade's top features (including Thinkorswim) are now available at Schwab. However, you can still open a new account at TD, for example if you're interested in trading futures and forex products, or using portfolio margin, as these will be available at Schwab only in early 2024. Read our Charles Schwab review.

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

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TD Ameritrade vs. Questrade: Trading fees
US stock
$0.0
$5.0
TD Ameritrade vs. Questrade: Minimum deposit, time to open an account
Minimum deposit
$0
$1,000
Time to open account
1-3 days 1 day

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

TD Ameritrade vs. Questrade: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
No No
Electronic wallets
No Yes
Withdrawal fee
$0
$0
Web trading platform of TD Ameritrade, a Questrade alternative
TD Ameritrade vs. Questrade: Trading platform scores
Web platform score
4.3 stars 3.8 stars
Mobile platform score
4.8 stars 4.8 stars
Desktop platform score
4.5 stars 4.3 stars

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

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TD Ameritrade vs. Questrade: Markets and products
Stocks
Yes Yes
ETFs
Yes Yes
Forex
Yes
Yes
Funds
Yes Yes
Bonds
Yes Yes
Options
Yes Yes
Futures
Yes No
CFDs
No Yes
Crypto
Yes
No

Interactive Brokers

Interactive Brokers (IBKR) is highly recommended for those seeking a broker with all-round great services at low fees.

It has an unrivaled selection of all asset types from exchanges across the globe, and offers many trading platforms with great functionality and advanced research.

The IBKR Global Trader app is a great way, even for beginners, to start trading stocks, ETFs, options and cryptos. Meanwhile, more experienced users can enjoy the complex capabilities of Trader Workstation at the other end of the spectrum.

Among the broker's drawbacks, account opening is long and tedious, some platforms may be too complex for beginner traders, and customer service can be busy.

In all, IBKR tops our list of brokerages: it is the highest-rated broker at BrokerChooser.

Recommended for traders looking for broad market access and a professional trading environment

Visit broker

Interactive Brokers vs. Questrade: Trading fees
US stock
$1.0
$5.0
UK stock
$3.7
-
German stock
$3.2
-
Interactive Brokers vs. Questrade: Minimum deposit, time to open an account
Minimum deposit
$0
$1,000
Time to open account
1-3 days 1 day

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

Interactive Brokers vs. Questrade: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
No
No
Electronic wallets
No Yes
Withdrawal fee
$0
$0
Web trading platform of Interactive Brokers, a Questrade alternative
Interactive Brokers vs. Questrade: Trading platform scores
Web platform score
3.8 stars 3.8 stars
Mobile platform score
4.3 stars 4.8 stars
Desktop platform score
3.8 stars 4.3 stars

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

Visit broker

Interactive Brokers vs. Questrade: Markets and products
Stocks
Yes Yes
ETFs
Yes Yes
Forex
Yes Yes
Funds
Yes Yes
Bonds
Yes Yes
Options
Yes Yes
Futures
Yes No
CFDs
Yes Yes
Crypto
Yes
No

Questrade

Questrade is a Canadian online brokerage firm. Questrade has low stock and ETF fees, and offers advanced research tools including news, fundamental data and chart pattern tools. Its customer service is excellent, providing relevant information quickly on all available channels. It is a good choice for beginner investors. On the negative side, the account opening process for international clients is slow and not fully digital. There is also a high fee for wire withdrawals outside Canada. Lastly, you can hold your cash only in USD and CAD. BrokerChooser gave Questrade a 4.5/5 rating based on analyzing 500+ criteria and testing via opening a live account.

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

Questrade alternatives trading fees
US stock
$5.0
$8.8
$7.4
$0.0
$1.0
Questrade alternatives minimum deposit and account open times
Minimum deposit
$1,000
$0
$0
$0
$0
Time to open account
1 day 1-3 days 1-3 days 1-3 days 1-3 days

Learn more about Questrade minimum deposit here.

Questrade and alternatives withdrawal options and fees
Bank transfer
Yes Yes Yes Yes Yes
Credit/debit card
No No No No No
Electronic wallets
Yes No No No No
Withdrawal fee
$0
$0
$0
$0
$0
Questrade - Web trading platform
Questrade and alternatives trading platform scores
Web platform score
3.8 stars 3.5 stars 2.9 stars 4.3 stars 3.8 stars
Mobile platform score
4.8 stars 3.0 stars 0.7 stars 4.8 stars 4.3 stars
Desktop platform score
4.3 stars - - 4.5 stars 3.8 stars

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

Questrade and alternatives markets and products
Stocks
Yes Yes Yes Yes Yes
ETFs
Yes Yes Yes Yes Yes
Forex
Yes No No Yes
Yes
Funds
Yes Yes Yes Yes Yes
Bonds
Yes Yes Yes Yes Yes
Options
Yes Yes Yes Yes Yes
Futures
No No No Yes Yes
CFDs
Yes No No No Yes
Crypto
No No No Yes
Yes

Bottom line

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.

Questrade alternatives
Broker intro
Recommended for
Canadian stockbroker Traders and investors focusing on the Canadian and US markets
Canadian stockbroker Investors, including beginners, who focus on the Canadian and US markets
Canadian discount stockbroker Investors, including beginners, focusing on the Canadian and US markets
US-based stockbroker Investors and traders looking for solid research and a well-equipped desktop trading platform
International broker providing all asset classes Traders looking for broad market access and a professional trading environment

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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.

Our top alternative brokers to Questrade

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