Questrade has been Canada’s leading discount brokerage for over 20 years. With Wealthsimple now offering commission-free trading, is Questrade still worth it? For most serious investors: yes.
What Makes Questrade Stand Out in 2026
- ETF purchases: FREE (you only pay to sell — $4.95–$9.95)
- US stock trading: $4.95–$9.95 (competitive with US brokerages)
- Accounts: TFSA, RRSP, FHSA, RESP, RRIF, LIF, margin, corporate
- Currency conversion: Norbert’s Gambit at ~0.15% vs Wealthsimple’s 1.5%
- Options trading: $9.95 + $1/contract
Questrade vs Wealthsimple — The Real Difference
For Canadians buying Canadian ETFs only: either works (both free). For Canadians buying US ETFs (like VTI, VOO, VXUS): Questrade wins on currency conversion — Wealthsimple charges 1.5% each way, which on a $50,000 portfolio = $750/year extra cost.
| Factor | Questrade | Wealthsimple Trade |
| Canadian ETF buy | Free | Free |
| US ETF buy | Free + forex (~0.15% via NG) | Free + 1.5% forex |
| ETF sell | $4.95–$9.95 | Free |
| Annual fee | None (accounts under $5K: $25/quarter waived with activity) | None |
| Research tools | Advanced — Questrade IQ | Basic |
| Options | Yes | No |
| AFFILIATE LINK PLACEMENTS
Questrade $50–80 CPA — After comparison — multiple placements throughout |
Account Opening Process
- Go to questrade.com and click “Open Account”
- Choose account type (TFSA recommended to start)
- Provide SIN, government ID, employment info
- Fund via EFT or cheque
- Approval typically 1–3 business days
Verdict
Questrade remains Canada’s best brokerage for investors who want to buy US ETFs, trade options, or who prefer better research tools. Wealthsimple is better for pure simplicity and Canadian ETF-only portfolios.
| Disclaimer: This article is for educational purposes only and does not constitute financial advice. All investments carry risk. Please consult a qualified financial advisor before making investment decisions. |
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