Compare Charles Schwab vs Questrade


Online brokers compared for fees, trading platforms, safety and more. See how Charles Schwab stacks up against Questrade!

Charles Schwab vs Questrade
overall rating
4.8
4.6
overall pros
  • Free stock and ETF trading
  • Outstanding research
  • Great customer service
  • Low stock and ETF fees
  • Solid research tools
  • Superb customer service
overall cons
  • High fees for some mutual funds
  • Only US/Canada markets available
  • Slow account opening for non-Canadians
  • High withdrawal fee for non-Canadians
  • Limited account base currencies
fees
4.4
  • Free stock/ETF trading
  • Some mutual funds and bonds are free
  • Low non-trading fees
  • High fees for non-free mutual funds
3.8
  • Low non-trading fees
  • Low stock and ETF fees / Free stock trading
  • Low fund fees
  • High margin rates
account opening
4.4
  • Fast
  • Fully digital
  • No minimum deposit
  • $25,000 minimum deposit for non-US clients
3.8
  • Fast
  • Fully digital
  • User-friendly
  • Minimum deposit is higher than $500
  • Complicated for non-Canadians
deposit and withdrawal
2.2
  • No deposit fee
  • User-friendly
  • High fee for wire (bank transfer) withdrawals
2.7
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Slow withdrawal - over 3 days
  • High fee for wire withdrawals
web trading platform
4.3
  • User-friendly
  • Clear fee report
  • Price alerts
  • Limited customizability (for charts, workspace)
3.8
  • User-friendly
  • Good variety of order types
  • Price alerts
  • No clear fee report available
  • Limited customizability (for charts, workspace)
mobile trading platform
4.2
  • User-friendly
  • Touch/Face ID login
  • Order confirmation
  • No price alerts
4.8
  • User-friendly
  • Two-step (safer) login
  • Good variety of order types
desktop trading platform
4.0
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Only for Windows
4.3
  • User-friendly
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • No clear fee report available
markets and products
3.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
  • Futures
4.2
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • CFD
research
4.3
  • Good interactive chart
  • Data on asset fundamentals
  • Trading ideas for stocks and ETFs
  • Hard to navigate among research tools
4.8
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
  • Live data only available for paid subscription
customer service
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No email support
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Not well-structured
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Educational section is hard to navigate
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • CAD 10 million per account additional insurance
  • No negative balance protection
  • Does not hold a banking license
  • Not listed on stock exchange
recommended for Investors and traders looking for solid research, low fees and great customer service Traders and investors focusing on the Canadian and US markets
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