Does Questrade Have Fees

Who this is for: You — an investor or trader in Canada deciding whether Questrade’s fee structure fits your needs. This guide targets DIY investors, active traders, and RRSP/TFSA users. Read this if you want precise numbers, scenario math, and a clear path to lower costs.

What this solves: Break down every fee type at Questrade so you can estimate real costs. Spot hidden charges. Decide whether to use free features or pay for upgrades. See exact fees, common exceptions, and worked examples. Compare scenarios quickly.

What to expect: A short TL;DR, step-by-step breakdown of trading fees, FX fees, fixed-income and product fees, administrative charges, a comparison table, and a decision tree you can use. Expect concrete numbers like $0, $0.05, 1.5%, $9.95, $24.95, $19.99, and examples using $5,000 and $10,000 trades.

Quick Answer / TL;DR

• Stocks & ETFs → $0 commission to buy and sell (standard plan). Expect $0 per trade for Canadian and US-listed equities.
• Options → $0 for many options contracts; with Questrade Plus you can pay as low as $0.05 (5¢) per US equity contract; platform notes “$0 options for most contracts.”
• Currency conversion → 1.5% FX markup on CAD↔USD conversions (applied to the FX rate).
• Other product fees → Bonds $24.95 per trade; mutual funds $9.95 per trade; journaling $9.95 per request (free with Plus).
• Administration → No annual account fee, no inactivity fee, EFTs free up to $50,000; some transfer or special fees may apply.
• Use dual-currency accounts and consolidate small purchases to avoid the most painful flat fees.

Trading fees overview — $0 stock/ETF trades and $0 options for many contracts

State the headline: Questrade charges $0 commissions on stocks and ETFs. That $0 applies to both Canadian and US-listed stocks and ETFs. Check order confirmation to see $0 shown as commission.

Explain options headline: Questrade advertises $0 options for most contracts. That means many US equity option contracts show $0/contract at checkout. You can also access paid tiers that change the per-contract cost.

Concrete example: Buy $5,000 worth of a stock. Commission shown: $0. Compare that to a broker charging $9.95 per trade. You save $9.95 on that one trade. If you execute 100 trades a year, that is $995 saved.

Usage context:
– Buy-and-hold investors benefit the most. Save on each large or small trade.
– Small frequent traders also gain from $0 per trade versus $9.95 or $7.99.
– Active traders should check market data and execution routing needs. Some advanced routing can add fees.

Watch out for ECN (electronic communication network) and exchange fees:
– ECN fees may appear on some routed trades.
– ECN fees are often small, e.g., a few cents or dollars per trade.
– Avoid ECN fees by choosing order types and routing that do not trigger them.

Key numbers to remember in this section:
– $0 per stock/ETF trade.
– $0/contract on many options.
– $5,000 example trade → $0 commission saving $9.95 versus a $9.95 broker.

Options and contracts — $0/contract baseline and 5¢ per contract on Plus

State core fees: Many options contracts show $0/contract. The $0/contract baseline mainly applies to US equity options. See the contract preview before you submit.

Explain Questrade Plus option: Questrade Plus costs $19.99 per month. One benefit is a 5¢ (USD $0.05) per US equities options contract rate in some tiers. Plus also includes cashback on many options trades and unlimited free journaling. Assignment fees for US options are often $0 under the platform’s terms.

Provide an example:
– Trade 100 option contracts at $0/contract → total commissions $0.
– Trade 100 contracts at $0.05 → total commissions $5.00 (100 × $0.05 = $5.00).
– Compare: If you pay $19.99 monthly for Plus and trade 2,000 contracts a year at $0.05, your per-contract cost decreases versus $0 baseline only if cashback or other perks offset the subscription.

Explain multi-leg or complex options:
– Complex orders may route across exchanges.
– Exchange or clearing fees can still apply.
– Example math: 200 contracts × $0.05 = $10.00 commission. Add exchange fees of $0.10 per contract and you get $30.00 total.

Watch out for:
– Limited $0 coverage on some option types. Check the option’s fee detail before sending the order.
– Currency for option fees is often USD for US options; factor conversion costs if paying in CAD.

Key numbers to track here:
– $0/contract baseline.
– $0.05 per US contract with Plus.
– $19.99 monthly subscription for Plus.
– Example values: 100 contracts → $0 vs $5; 200 contracts → $10.

Currency conversion and FX fees — 1.5% conversion fee and dual-currency tactics

State the fee: Questrade applies a 1.5% currency conversion fee on CAD↔USD conversions. That 1.5% is added into the FX rate applied when you convert funds.

Describe how the fee is applied:
– Converting $10,000 CAD to USD at 1.5% costs roughly $150 in FX markup.
– If market mid-rate would give you USD 7,500, a 1.5% markup reduces that by about $112.50 to $7,387.50 (numbers vary with the base rate).
– The fee is embedded into the effective rate, not shown as a separate line item.

Explain dual-currency accounts and journaling:
– Enable a dual-currency setup at no extra cost.
– Keep USD and CAD balances separate to avoid conversions on each trade.
– Journaling (moving securities or cash between CAD and USD ledger without selling) can avoid forced conversion. Journaling online costs $9.95 per request or is free with Plus.
– Use limit orders in USD when you hold USD to prevent automatic conversion.

Example savings:
– If you hold USD and buy a US-stock worth $5,000, you avoid a 1.5% hit. That saves about $75 on that single trade.
– If you make 4 such trades, savings total about $300.

Watch out for:
– Automatic forced conversions when funding accounts with the wrong currency or when buying a US-listed product with only CAD balance.
– Journaling fee: $9.95 per online request if you are not a Plus subscriber.

Key numbers in this section:
– 1.5% FX markup.
– $10,000 → ~$150 FX cost example.
– $5,000 purchase saves about $75 if you already hold USD.
– Journaling fee $9.95 per request or free with Plus.

Fixed-income, mutual funds, and other product fees — $24.95 bonds, $9.95 mutual funds, GICs no cost

List concrete product fees:
– Bonds: $24.95 per trade.
– Mutual funds: $9.95 per trade.
– GICs: No cost to buy or sell.
– Some corporate or private share handling fees may apply; check account documents.

Explain use cases and percentage impacts:
– A $24.95 fee on a $1,000 bond purchase equals a 2.495% transaction cost. That is high for small bond trades.
– A $9.95 mutual fund purchase on $100 monthly contributions is a 9.95% fee. That makes small monthly purchases expensive.
– For larger mutual fund trades, the flat $9.95 becomes a tiny percentage. For example, on $1,000 the cost is 0.995%.

Note specifics on GICs:
– Buy or sell GICs at no charge. That is useful for conservative allocations.
– The yield on the GIC, not a trading fee, determines return. Confirm rate and term before purchase.

Summarize where Questrade is cheap vs not:
– Cheap: Stocks and ETFs at $0, and many options at $0/contract.
– Less cheap: Bonds and mutual funds with flat fees can sting on small trades.

Examples and numbers:
– $24.95 per bond trade.
– $9.95 per mutual fund transaction.
– $1,000 bond → $24.95 → 2.495% transaction cost.
– $100 mutual fund monthly purchase → $9.95 → 9.95% hit.
– Consolidate to $1,000 mutual fund purchases to reduce fee to 0.995%.

Watch out for:
– Percentage impact on small ticket sizes. Always check dollars and percent before you buy.

Administrative and transfer fees — journaling $9.95, EFT free up to $50,000, no account or inactivity fees

State admin positives:
– No annual account fee. That is $0 per year for keeping the account open.
– No inactivity fee. That is $0 for not trading.
– Account opening is free. No fee to start.

List transfer and withdrawal items:
– CAD electronic fund transfer (EFT) up to $50,000 is free. That $50,000 limit applies per transfer type.
– Journaling online costs $9.95 per request if you are not on Plus. Journaling is unlimited and free with Plus.
– Some transfers-out may have fees depending on method. Confirm before requesting external transfer.

Explain other administrative charges:
– Special-case fees exist. For example, moving private corporation shares into an account may carry a CPCC-style processing fee. The platform lists that such fees can apply; amounts vary by case.
– Certificate handling and corporate action processing can have separate flat fees. Expect occasional fees measured in tens to hundreds of dollars for rare services.

Give concrete examples:
– Do one journaling request: pay $9.95 (unless you have Plus).
– Move $40,000 via CAD EFT: cost $0.
– Move $60,000: may require wire with fee; check limits and costs.

Watch out for:
– Special-case fees for private shares and certificates. These are rare but can reach hundreds of dollars.
– Keep transfers under $50,000 per CAD EFT when possible to avoid wire fees.

Key numbers in this section:
– $0 account fee, $0 inactivity fee, $0 to open an account.
– $50,000 free EFT limit.
– $9.95 journaling fee per request (free with Plus).

Hidden and avoidable fees, plus cost-saving tactics — Questrade Plus $19.99/month tradeoffs and breakeven math

List common “hidden” items and avoidance:
– FX conversion: 1.5% markup on CAD↔USD conversions.
– Journaling: $9.95 per online request for standard users.
– ECN fees: small routing fees can appear; often avoidable.
– Exchange and clearing fees: may still apply on options and bonds.

Describe Questrade Plus and math:
– Questrade Plus subscription costs $19.99 per month.
– Annualized cost: $19.99 × 12 = $239.88 per year.
– Plus perks include: 5¢ per US contract, unlimited free journaling, cashback on options, expanded market data, and an RRSP deposit match program in some cases.
– Breakeven example 1: If you pay $9.95 journaling twice per month (24 times a year), total journaling cost is $238.80. At $239.88 per year, Plus pays for itself if you need frequent journaling.
– Breakeven example 2: If you execute 5,000 US option contracts per year and save $0.05 per contract compared to a higher rate, savings equal $250. That offsets the $239.88 subscription.

Provide tactical checklist for cost reduction:
– Keep a USD balance in your account to avoid 1.5% FX per US trade.
– Use journaling to move USD/CAD internally when possible. Pay $9.95 per request or avoid with Plus.
– Consolidate mutual fund purchases. Move from monthly $100 buys to quarterly $300 buys to cut number of $9.95 charges.
– Place limit orders in the currency you hold to avoid forced conversions.
– Choose not to pay for data or routing upgrades unless you truly need them.

Watch out for:
– Plus may not pay off if you trade rarely. Compare your expected annual FX markup, number of journaling events, and option contract volume to $239.88.
– Example numbers: 1.5% FX, $9.95 journaling, $0.05 per contract, $19.99/month, $239.88/year.

Key quantitative tips:
– Calculate your annual FX cost: 1.5% × total USD purchases.
– Count journaling events: $9.95 each.
– Count option contracts: multiply by $0.05 to get fee savings with Plus.
– Compare savings to $239.88 yearly subscription.

Comparison table section — Account-level and product fee snapshot

Quick reference table comparing common transaction types, standard fees, Questrade Plus fees, and short notes.

One-sentence summary: The pattern shows $0 for equities and many options, but product-specific flat fees (bonds, mutual funds, journaling) and a 1.5% FX markup are where costs concentrate.

Closing — How to Choose / Bottom Line

If you mostly buy and hold Canadian or US stocks and ETFs and rarely convert currency, choose standard Questrade. You pay $0 per trade and $0 in account fees.

If you trade many US options contracts or perform frequent journaling and conversions, consider Questrade Plus at $19.99 per month. Compare $19.99 × 12 = $239.88 to your annual FX and journaling costs. If your yearly conversion fees exceed $239.88, Plus likely pays for itself.

If you trade bonds or make small mutual fund purchases, avoid tiny ticket sizes. For example:
– $24.95 bond fee on a $1,000 trade equals 2.495% cost.
– $9.95 mutual fund fee on $100 equals 9.95% cost.
Consolidate trades to lower those percentages.

Still unsure? Do this quick test:
1. Add up your planned annual US purchases in dollars. Multiply by 1.5% to estimate FX cost.
2. Count expected journaling events. Multiply by $9.95.
3. Count expected option contracts. Multiply by $0.05 to get Plus savings.
4. Sum fees for standard plan and Plus plan. Compare the two yearly totals.

Pick the path that minimizes total dollars paid. Use the comparison table above. Track the following numbers during your test: $0 trades, $0.05 per contract, 1.5% FX, $9.95 per journaling, $24.95 per bond, $19.99 per month, $239.88 per year, and the $50,000 EFT limit. Those numbers determine most outcomes.