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Can you trade penny stocks at Questrade?

Your expert
Adam N.
Fact checked by
Updated
Jan 2024
Personally tested Personally tested
Data-driven Data-driven
Independent Independent

Can you trade penny stocks at Questrade as of January 2024?

Yes, you can trade OTC penny stocks at Questrade.

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Questrade penny stock fees, withdrawal fee and more

Questrade main highlights
💰 Questrade stock trading fees class Low
💰 Questrade OTC stock fees $0.01 per share, min $4.95, max $9.95; buying ETFs is free, selling costs $0.01 per share
📃 Questrade available stock markets 8
💰 Questrade withdrawal fee $0
💰 Questrade minimum deposit $1,000
💰 Questrade inactivity fee No
📃 Questrade deposit methods Bank transfer, Credit/debit cards, Interac Online
🗺️ Country of regulation Canada
🎮 Questrade demo account provided Yes

Data updated on January 4, 2024

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What are penny stocks?

Penny stocks are defined as stocks that are priced below $5 and are issued by small companies. While some penny stocks are listed on formal securities exchanges, such as NASDAQ, the majority are traded over-the-counter (OTC) through a broker-dealer network.

Penny stocks are considered to be risky investments because of their poor liquidity and high price volatility. Only a small share of penny stocks have a real potential to bring high returns, while the vast majority tends to perform poorly. Investing in penny stocks may well result in you losing all your invested money. If you'd like to learn more, check out our guide to trading penny stocks. Below, you can view examples of a well-performing and a poorly performing penny stock in 2022.

Poorly performing penny stock in 2022


Well-performing penny stock in 2022

Looking for the best brokers for penny stocks?

If you're looking for the best brokers that offer penny stocks trading, check our list of the world's best brokers for penny stocks.

FAQ

Is it worth investing in penny stocks?

Penny stocks are highly volatile assets that require caution. Some penny stocks may lose all their value over a relatively short period, while others may produce above-average returns.

Why are penny stocks so risky?

Penny stocks are considered risky assets because of their high price volatility and lack of liquidity. Penny stocks are shares of small companies, only a few of which have the potential to perform well in the future. Because of poor liquidity, it is hard or sometimes outright impossible to sell the stocks you own.

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Further reading

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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