Qtrade Review A-

Qtrade Review Score: A –

Qtrade, not to be confused with Questrade, is a very good Canadian Stock Broker.  It’s not quite as good as Questrade, which if you read our review, you will find is almost a perfect broker for most Canadians, but it comes very close!  On to our review:

Sign up

Signing up for Qtrade is quite easy and fast.  And their fees are quite low.  It’s a great brokerage for low net worth individuals, especially if you are young (under 30).  You require a Minimum Balance of $1000 CAD to open an account.

Fees
  • Stock trade commissions are $8.75 per trade.
  • Options Trade at $8.75 + $1.25 per option contract
  • ECN fees may apply if your trading is judged to be high volume, so this is a negative
  • $25,000 balance required for no inactivity fees ($100/yr otherwise)
  • Can trade 100 select ETFs with no fees

For individuals under 30, they offer trades for $7.75 commission and you do not need to carry a minimum balance in your account.  You just need to add a minimum of $50 per month to your account.  This is a great way for young people who are interested in self directed investing to get started.

Features and Tools
  • TFSA trading accounts are allowed
  • RRSPs are allowed
  • USD cash balances are allowed
  • Smart phone app is slick, modern and easy to use
  • Income reports are decent and available
  • Research tools are great
Customer Service

By all accounts customer service is good.  With fast response times and helpful staff, we haven’t encountered any serious complaints from the half-dozen or so Qtrade clients we’ve consulted.

 

Final Verdict: A-

Qtrade would be a nearly perfect Canadian broker if their fees weren’t a bit higher than the competition.

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