Questrade trading fees

You — a Canadian investor or trader — need fast, exact answers. Read this if you’re a beginner, a passive investor, or an active trader deciding if Questrade fits your cost needs. This guide breaks down every Questrade trading fee you’ll face. See exact fee numbers, minimums, and the trade scenarios that matter. Learn the real-dollar impact on common trades. Get clear tactics to lower costs.

Read the Quick Answer for a fast decision. Use the product fee breakdown to compare instruments. Follow the “How to minimize fees” steps to cut real costs. Keep this page open while you plan trades. Run the example math before you click Buy.

Quick Answer / TL;DR

• Stocks & ETFs: $0 commission per trade. Trade stocks and ETFs commission-free online.
• Options: ~ $0.99 per contract. No base commission for most options trades.
• Mutual funds: $9.95 per buy or sell. Avoid frequent mutual fund trades under $1,000.
• Currency conversions: 1.5% forced conversion when Questrade converts CAD↔USD. Hold USD to avoid this.
• Journaling (Norbert’s Gambit): $9.95 per journaling request unless waived by a paid subscription.
• Special services: Trade-desk adds $45 per trade. Private placements cost $175 per request. Precious metals have separate fees and storage charges.

Opening block

You want clear totals, not vague claims. This opening sets expectations. Expect exact fees, typical scenarios, and specific savings tactics. Expect math on $500, $1,000, $10,000 trades. Expect warnings on minimums like $5,000 for bonds. Expect advice to hold USD, batch trades, and use Norbert’s Gambit for larger conversions. Use the Quick Answer to decide fast. Then read the product breakdown to compare instruments. Finish by following the fee-minimizing checklist.

Overview of Questrade trading fees — 0 on stocks/ETFs; 1.5% FX

State the headline numbers. Stocks and ETFs trade with $0 commission online. Options incur a per-contract fee of about $0.99. Mutual funds cost $9.95 per buy and per sell. “Commission-free” means Questrade does not charge a per-trade commission on listed Canadian and US stocks and ETFs placed online. You still face exchange fees and regulatory levies where applicable, but the brokerage commission for stock/ETF execution is $0.

Pay attention to currency impact. Questrade charges a forced currency conversion fee of 1.5% when it converts between CAD and USD. That fee applies if you buy a US-listed ETF with CAD cash, or if you sell USD holdings and accept CAD proceeds. Example: buying $1,000 USD worth of shares with CAD triggers an automatic conversion that costs about $15 at 1.5%. Example: converting a $10,000 USD buy costs about $150.

Know the exceptions. Bonds and GIC purchases have a minimum purchase requirement of $5,000 per trade. Mutual funds always charge $9.95 per buy and per sell. Trade-desk assisted orders add $45 per trade. Quest Metals and trade-desk precious metals have separate per-transaction and storage charges. Keep these exceptions in mind when planning small trades.

Product fee breakdown — Stocks, Options, Mutual Funds, Bonds, Precious Metals

Stocks and ETFs
– Trade online with $0 commission per trade.
– No minimum deposit to open an account.
– No inactivity fee.
– Example: a $500 stock buy costs $0 in commission. You may still face a 1.5% conversion if you don’t hold USD.

Options
– Typical fee is $0.99 per contract.
– No base commission for most options trades.
– Example: buying 5 contracts costs about $4.95 in contract fees.
– Check higher spreads on illiquid contracts; per-contract fees add up.
– Dealer or market fees can add small levies per contract.

Mutual funds
– $9.95 per buy and $9.95 per sell.
– Example: three mutual fund buys during one year cost $29.85.
– Avoid frequent small mutual fund trades under $1,000. Repeated $9.95 hits erode returns fast.

Bonds & GICs
– No commission in many retail bond and GIC purchases through the platform.
– Minimum purchase is $5,000 per trade.
– Example: a $4,000 investor cannot buy a $4,000 bond directly due to the $5,000 minimum.
– This minimum pushes small-account investors toward ETFs or cash alternatives.

Precious metals & Quest Metals
– Quest Metals (self-service allocation) typically charges 0.25% per transaction.
– Trade-desk precious metals cost $19.95 USD per buy or sell.
– Precious metals withdrawals via trade-desk have a $75 fee.
– Storage fees vary: pooled gold 0.60% of market value, pooled silver 0.90%, separated storage 1.50%.
– Example: a $10,000 pooled gold holding faces a 0.60% annual storage charge, or about $60 per year.

Watch out for: trade-desk and specialty fees that sit outside headline “$0” trades. Add $45 trade-desk charges, $19.95 precious metals per trade, and storage fees to your calculation.

Currency conversion and journaling (Norbert’s Gambit) — 1.5% FX; $9.95 journaling

Know the forced conversion fee. Questrade applies a 1.5% currency conversion on CAD↔USD when the platform converts for you. That 1.5% hits the trade value. Example: selling a $2,000 USD position and accepting CAD will cost roughly $30 in conversion fees.

Use Norbert’s Gambit to save money. Journaling (the method of moving value between USD and CAD using cross-listed securities) avoids the 1.5% forced conversion. You journal shares from, say, DLR to DLR.U (or similar instruments), then request the platform to journal. Each journaling request typically costs $9.95. Run the numbers: converting $1,000 via journaling costs $9.95 versus $15 via the 1.5% forced conversion. That makes journaling cheaper for a $1,000 conversion. Calculate break-even: journaling fee $9.95 vs 1.5% fee. The break-even trade size is roughly $663 (9.95 / 0.015 ≈ 663). Convert amounts above $663 via journaling to save money.

Consider subscription trade-offs. Questrade offers a streaming data subscription that can waive journaling fees as part of a package. Subscription cost example: $9.95 per month for expanded data. If you perform journaling frequently, a $9.95 monthly subscription can be cheaper than paying multiple $9.95 one-off journaling fees. Do the math: two journaling requests in a month cost $19.90; that already exceeds a $9.95 monthly subscription.

Expect timing and market risk. Journaling requires trading steps and time. You may trade on one symbol, wait for settlement or processing, then journal. Example: the two-step process may take 1–3 business days. During that time, you face spread and market movement risk.

Watch out for: delays and spread risk when using Norbert’s Gambit. Avoid journaling tiny amounts under the break-even figure of about $663.

Trade desk, special services, and one-off fees — $45 trade desk; $175 private placement

Use the trade desk only when necessary. Trade-desk assistance adds $45.00 per trade on top of any regular commission. Example: placing an off-platform sell through the trade desk costs $45 plus any product-specific fee. This charge applies per trade; it is not per share.

Expect higher fees for private transactions. Private placement requests cost $175 per trade. Research requests bill at $75 per hour, with a minimum one hour. Example: a detailed research request for two hours costs $150.

Handle precious metals via the trade desk with caution. Trade-desk precious metals buys and sells cost $19.95 USD per transaction. Precious metals withdrawal costs $75 per withdrawal. Storage fees run 0.60% for pooled gold, 0.90% for pooled silver, and 1.50% for separated storage. Example: a $20,000 silver holding in pooled storage costs about $180 per year at 0.90%.

Watch out for: special services can blow up the cost of otherwise “free” trades. A single trade-desk order can add $45, plus other charges.

Non-trading fees, withdrawals, and account limits — $0 inactivity; $150 account closure; $20–$40 wire

Leverage the positives. Questrade charges $0 for inactivity. Electronic withdrawals by standard methods are free up to CAD 50,000 or USD 25,000 per transfer. That threshold often covers most personal transfers.

Expect wire fees and closure charges. Wire transfers cost between $20 and $40 depending on residency. Account closure costs $150. Example: moving assets internationally by wire twice costs between $40 and $80. Example: closing an account adds $150.

Mind small recurring fees and unclaimed property. Unclaimed property fees run $29.95 per quarter. Example: if your account becomes inactive and unclaimed, you could see $29.95 charged each quarter.

Watch out for: small recurring fees and high one-off charges that eat small portfolios. A $150 closure fee plus two $40 wires equals $230 in exit costs.

How fees affect trading strategies — scenarios with numbers

Low-frequency investor (buy-and-hold)
– Scenario: buy a $5,000 US ETF once and hold.
– Commissions: $0 for the trade.
– Currency: avoid forced conversion if you hold USD; otherwise 1.5% on $5,000 equals $75.
– Conclusion: hold USD cash in your account to save roughly $75 on a $5,000 trade.

Active options trader
– Scenario: trade 20 contracts each week.
– Per-contract fee: $0.99.
– Weekly cost: 20 × $0.99 = $19.80.
– Annual cost: $19.80 × 52 ≈ $1,029.60.
– Conclusion: per-contract fees can exceed $1,000 per year if you trade 20 contracts weekly.

Mutual fund rebalancer
– Scenario: rebalance monthly with mutual fund buys.
– Fee: $9.95 per buy.
– Annual cost: $9.95 × 12 = $119.40.
– Compare to ETFs: one ETF trade at $0 replaces multiple $9.95 hits.
– Conclusion: switch to ETFs to avoid $119+ per year in mutual fund fees.

Small bond buyer
– Scenario: you want to buy a $4,000 bond.
– Minimum: $5,000 per bond purchase.
– Result: you cannot buy a $4,000 bond directly.
– Alternative: buy a bond ETF or save to $5,000.
– Conclusion: minimums push small accounts toward ETFs.

Quick formulas to run
– Commission total = $0 (stocks/ETFs) or $0.99 × contracts (options).
– FX cost = trade value × 1.5% if conversion occurs.
– Journaling option cost = $9.95 per journaling request (or monthly subscription).
– Special fees = $45 per trade (trade-desk), $175 private placement, $19.95 precious metals trade-desk.

How to minimize Questrade trading fees — hold USD; aggregate trades; use Norbert’s Gambit

Hold USD in registered accounts
– Move or keep USD cash in your RRSP, TFSA, or margin account.
– Trade US stocks/ETFs using USD cash to avoid the 1.5% forced conversion.
– Example savings: $15 on a $1,000 US trade, $150 on a $10,000 trade.
– Action: transfer USD via electronic transfer or deposit USD directly.

Use ETFs instead of mutual funds
– ETFs trade for $0 per trade on the platform.
– Replace mutual funds that charge $9.95 per buy/sell with ETFs that match exposure.
– Example: one ETF trade at $0 replaces a mutual fund trade at $9.95.

Batch orders and aggregate small buys
– Combine multiple small purchases into one larger trade.
– Avoid repeated $9.95 charges for small mutual fund buys.
– Example: five $200 buys cost $49.75 in fees if buying mutual funds. One $1,000 buy costs $9.95.

Use Norbert’s Gambit for larger conversions
– Journal amounts above the break-even of about $663 to save versus the 1.5% forced conversion.
– Each journaling request costs about $9.95.
– Consider a $9.95/month streaming subscription if you journal often. Two journaling requests in a month cost $19.90; a $9.95 monthly plan may be cheaper.

Avoid the trade-desk unless necessary
– Trade-desk assistance adds $45 per trade.
– Use online self-serve tools to keep costs at headline levels.
– Example: avoid a $45 trade-desk charge on otherwise $0 trades.

Watch out for: paying $9.95 monthly for data only to avoid $9.95 one-off journaling fees. Do the math: one month subscription at $9.95 equals one journaling fee. Use the subscription only if you plan multiple monthly journaling operations or you need streaming data.

Comparison table section

Quick comparison of typical instrument fees and minimums so you can scan what matters.

Stocks/ETFs and options keep headline costs low. Mutual funds, FX conversions, trade-desk and specialty services introduce most extra dollar charges.

Closing — How to choose / Bottom line

If you trade US stocks or ETFs occasionally and can hold USD → lean into Questrade’s $0 commissions. Hold USD cash or use Norbert’s Gambit for larger conversions. Saving 1.5% on a $10,000 trade equals $150 in avoided FX fees.

If you trade options frequently (≥ 10 contracts per week) → calculate per-contract costs. Example: 10 contracts weekly at $0.99 equals about $514 per year. Compare other brokers if your volume makes that fee material.

If you use mutual funds or need many small bond/GIC purchases (< $5,000) → expect $9.95 per mutual fund trade and $5,000 minimums for bonds/GICs. Consider ETF alternatives or consolidate trades to avoid repeated $9.95 fees.

If still unsure → default approach: use Questrade for buy-and-hold stock and ETF investing to benefit from $0 commission. Hold USD for US exposure. Avoid trade-desk and specialty services unless they are necessary.

Final checklist before you trade
– Hold USD for US trades when possible to avoid 1.5% FX.
– Batch small buys to avoid multiple $9.95 mutual fund fees.
– Journal amounts above about $663 to beat forced conversion costs.
– Avoid trade-desk for routine orders to skip $45 charges.
– Account exit plan: expect $20–$40 wire fees and a $150 closure charge.

Run the numbers on your next trade. Compare commissions, FX, and special fees. Make the choice that keeps more dollars invested.