Questrade Review 2025

Questrade review
Questrade Awards

Questrade have won numerious industry awards over the 16 years they have been operating as a financial broker. We have listed the most notable awards and mentions for Questrade below.

• Canada’s #1 rated online broker by MoneySense 2024
• Canadas Top 100 Employers 2024
• Greater Torontos Top Employers 2024
• Dalbar Seal of Service Excellence 2023
• Best Canadian Brokerage Benzinga 2022

Questrade review
Questrade Fees Explained

• Questrade doesn't charge withdrawal fees.
• Questrade does not charge a fee for inactive accounts.
• Questrade doesn't charge deposit fees. A currency conversion fee may be applied as withdrawals and deposits from Questrade are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.

Questrade Costs To Check

Modern brokers like Questrade provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, Questrade may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall Questrade trading profitability.

How Questrade Fees Compare Against Other Brokers

Questrade Minimum Deposit

Questrade requires a minimum deposit of 1000 GBP/USD/EUR when opening an Questrade trading account.

A minimum deposit is the minimum amount of money required by Questrade to open a new online brokerage account with them.

Don't be scared off by brokers like Questrade charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.

In the trading world, brokers like Questrade, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

Questrade Withdrawal Fees

Questrade doesn't charge withdrawal fees.

Questrade Withdrawal rules may vary across different brokers when it comes to transferring funds from your Questrade or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with Questrade may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the Questrade withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from Questrade. Researching and comparing Questrade withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing Questrade funds frequently or dealing with large sums of money. Awareness of these Questrade fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your Questrade funds.

For example, Questrade allows you to withdraw your funds to Debit Cards, Debit Cards, VISA, MasterCard, Instant deposit, Online bill payments, Brokerage transfer in request, Third Party Deposits, Pre-authorized deposits (PADs), Wire transfers, Money Orders, Cheques, E-Transfers Questrade email, PayTM, Plastiq, KnightsbridgeFX.

Questrade Inactivity Fees

Questrade does not charge a fee for inactive accounts.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by Questrade terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all Questrade fees and services. It's recommended that you check the Questrade website before signing up. If you decide to close your Questrade account, it's important to do so with the Questrade broker customer support and obtain confirmation that no remaining Questrade fees are due.

Brokers like Questrade must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

Questrade Deposit Fees

Questrade does not charge deposit fees. Although bank / 3rd party merchant fees may apply.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

Questrade Commission Fees

Questrade does charge commission on CFD instruments.

Brokerage firms like Questrade may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the Questrade trading account level held by the trader.

Questrade may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing Questrade terms and conditions to understand the commission fees and any other charges that may apply is essential.

Questrade review
Trading on Questrade web platforms and other applications

Questrade provides traders with a modern custom platform that can be accessed through a browser-based web application. If you would rather see a MT4 brokers, or MT5 brokers you can do so here.

A Questrade iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.

Questrade also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.

See Questrade's platforms

Is the Questrade Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the Questrade trading platform to protect you on PC and mobile Questrade platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using Questrade web trading platforms.

Questrade Trading Platform Options

Questrade does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

Questrade offers its custom trading platform developed and tested in-house. The Questrade trading platform allows traders to track their portfolios and the current markets, locate trade ideas and place trades.

The Questrade platform allows traders to filter the financial marketplace for trade opportunities that match criteria.

With Questrade, you can examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the Questrade platform, including news and quotes. Discover possible trades with the strong charting tools found with Questrade. Questrade is available as downloadable applications or online through the cloud. Monitor your orders with Questrade and receive breaking news in your positions.

Questrade Trading benefits

Questrade Trading Accounts Offered

Below we give an overview of the account types that Questrade offer. Whatever you are looking to trade, the varying Questrade account types will be able to provide you with what you need.

• Questrade Demo account
• Questrade Mini account
• Questrade Standard account
• Questrade ECN account

Can I try Questrade?

Questrade provides a demo account that enables individuals to explore trading before investing their funds. By creating a Questrade practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the Questrade demo account can help individuals to make informed decisions before investing their money.

Open a demo Questrade account to practice and trade.

Your capital is at risk

Questrade withdrawal and funding methods

It's essential to remember that the payment methods provided by Questrade vary based on the Questrade entity and the Questrade client's country of residence. To view the Questrade payment options available, you can log into your Questrade member's area.

Questrade offers various funding payment methods listed in your Questrade dashboard if available in your region. To learn more about the Questrade funding and withdrawal options available in your area, you can explore the Questrade website.

Questrade provides several payment methods for funding your Questrade account. You may utilize any of these deposit options if they are available in your region. Questrade ensures that users have multiple payment methods to choose from, making it more convenient for verified Questrade account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the Questrade user's location. learn more about Questrade funding and withdrawal methods.

Questrade Payment Methods

Some Questrade payment methods are local and are available only to specific regions. Questrade account holders should check which payment methods are provided in your region.

• Questrade accepts Debit Cards
• Questrade accepts Debit Cards
• Questrade accepts VISA
• Questrade accepts MasterCard
• Questrade accepts Instant deposit
• Questrade accepts Online bill payments
• Questrade accepts Brokerage transfer in request
• Questrade accepts Third Party Deposits
• Questrade accepts Pre-authorized deposits (PADs)
• Questrade accepts Wire transfers
• Questrade accepts Money Orders
• Questrade accepts Cheques
• Questrade accepts E-Transfers Questrade email
• Questrade accepts PayTM
• Questrade accepts Plastiq
• Questrade accepts KnightsbridgeFX

How can I start trading with Questrade?

To open a trading account with Questrade, individuals can sign up on the Questrade website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for Questrade account validation and making a deposit. Once completed, Questrade users can download the trading platform of their choice.

It's important to note that Questrade requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps Questrade maintain a trustworthy financial environment for its 200,000 users. Detailed information on the Questrade trading platforms is available on their website.

Your capital is at risk

Performing trades with Questrade

When using Questrade, the minimum trade size is typically $ 4.95 units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. Questrade have a max trade of varies. By offering ECN execution, Questrade provides traders with tighter spreads and increased transparency regarding trade pricing. It's worth noting that ECN accounts typically come with a commission fee and tend to be favoured by traders who use high-volume strategies, such as scalpers and those utilizing automated trading.

Like other brokers, Questrade margin requirements can differ depending on the traded instrument.

Education Resources at Questrade

Questrade offer educational resources which include Platform Tutorials. Please bear in mind that these resources provided by Questrade do not guarantee any results when trading. When we checked on the Questrade website, these educational resources were not available in every language. Also some financial instruments mentioned in any Questrade educational resources may not be available in your region.

To trade effectively with Questrade, it's important to have a good understanding of the Questrade trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with Questrade and externally.

Questrade . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with Questrade. Familiarizing yourself with the Questrade trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using Questrade. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with Questrade involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like Questrade, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with Questrade. Explore the Questrade platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with Questrade, before live trading.

Customer Support at Questrade

As part of our Questrade review, we review customer service options, response times and problem resolution effectiveness on the Questrade trading platform. The Questrade trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.

Questrade Available Support Types

Based on our experience, we have given Questrade a D grade for customer support. We encountered some slow response times or Questrade queries that were left unanswered.

Compared to other brokers, Questrade offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow.

Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at Questrade

Our team tested the live chat support of Questrade and found it to be satisfactory. While we received a response within 25 minutes on most occasions, there were instances where we did not receive a response at all.

In addition, we tested Questrade support services in various countries and languages and found that Questrade were able to effectively resolve our customer issues.

Email Support at Questrade

Questrade does not offer Email Support.

Phone Support at Questrade

We contacted Questrade via phone and received quick assistance within 10 minutes of our call.

The Questrade phone support team proved to be helpful and able to resolve our queries and issues over the phone. We also tested the multilingual support provided by Questrade and found that they could assist us in various languages.

While we found the Questrade phone support satisfactory, there is room for improvement in response time.

See how Questrade Support Compares Against Other Brokers

What you will need to open an account with Questrade

As Questrade is regulated by Financial and Capital Market Commission (FCMC) of Latvia, Financial Instruments Directive (MiFID II).

As a new client of Questrade, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with Questrade in your region. During the Questrade account opening process, you will be asked to provide Questrade with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with Questrade have the following documents available.

• Questrade require a scanned colour copy of your passport, driver's license or national ID card.
• A recent utility bill or bank statement that confirms your residential address for Questrade compliance. This must be dated within the last six months.
• If you plan to fund your Questrade account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the Questrade platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under Questrade Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring Questrade's platform.

However, remember that you won't be able to make trades on Questrade until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the Questrade KYC compliance process as soon as possible to avoid any delays in accessing the Questrade platform's features.

It is important to note that Questrade may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the Questrade platform and features immediately. However, you must pass the verification process to start live trading with Questrade, which can take up to a few business days.

To start the process of opening an account with Questrade you can visit the Questrade trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered investment advice. All information collected from https://www.questrade.com on November 18, 2024.

Watch this Questrade Explainer Video

Questrade review written by Andrew Blumer and Mark Hansen