Questrade is Canada's most popular self-directed broker — and one of the few that genuinely charges $0 commission on North American stocks and ETFs. But the fee schedule has some important nuances: a 1.5% FX conversion fee, variable ECN charges on US securities, and international trading costs that most guides miss entirely. This page lays out every number, by jurisdiction, with no surprises.
Key Fee Highlights
Before diving into the details, here's what Questrade gets right — and where the catch is:
$0 commissions for Canadian residents trading North American equities and options. The key exception is the 1.5% USD/CAD currency conversion fee, which applies every time you trade a USD-denominated stock from a CAD account without a USD cash balance to cover it.
Questrade Default vs. Questrade Plus
Questrade offers two tiers: the free Default plan and the paid Plus plan at $19.99/month.
| Feature | Default (Free) | Plus ($19.99/mo) |
|---|---|---|
| Stocks & ETFs commissions | $0 | $0 |
| Options contracts | $0 (most) | $0 + $0.05 CAD cashback/contract |
| Journaling (FX avoidance) | $9.95/request | Unlimited free |
| RRSP deposit match | — | 1% match |
| Market data | Level 1 snap quotes | OPRA expanded data |
| Pre-IPO access | — | ✅ Yes |
When does Plus pay off? If you trade US stocks from a CAD account more than once or twice a month, the unlimited free journaling alone can offset the $19.99 fee — journaling lets you pre-convert at a broker rate rather than paying 1.5% on every trade.
Equities: Fees by Jurisdiction
The commission structure varies significantly depending on where the stock is listed. Canadian and US securities are effectively free — international is a different story.
| Market | Commission | ECN Fees | Notes |
|---|---|---|---|
| 🇨🇦 Canada (CAD) | FREE | None | — |
| 🇺🇸 United States (USD) | FREE | Variable (see ECN section) | SEC Fee + ADR Custody Fees apply on sells |
| 🌍 International | 1% of value | Charged in USD | Minimum $195.00 USD per trade |
International trading warning: With a 1% fee and a $195 minimum, Questrade is not designed for trading European or Asian stocks. A €5,000 trade costs you $50 USD in commission — and requires $19,500 to break below the minimum rate. International investors should consider DEGIRO, Interactive Brokers, or Saxo Bank instead.
The True Cost Formula
For US-listed securities, the total cost of a trade is not just the $0 commission. Several pass-through charges can add up:
| Cost Component | Amount | When it applies |
|---|---|---|
| Commission | $0 | Always |
| ECN Fee | Up to $0.004/share | US-listed securities only; route-dependent |
| SEC Fee | 0.0000206 × trade value | US sells only (regulatory pass-through) |
| FX Conversion | 1.5% spread | Cross-currency settlement (USD trade in CAD account) |
| ADR Custody Fee | Variable (agent bank) | American Depositary Receipts (ADRs) held |
$0 commission + ~$4 ECN (NASDAQ market order) + negligible SEC fee (sell only) + $150 FX conversion (1.5%) = ~$154 in total friction costs on a $10,000 trade. Solution: hold a USD cash balance or use journaling to pre-convert funds.
ECN Fees Explained (US Securities Only)
ECN fees are exchange/routing charges passed through to you on US-listed trades. They are never charged on Canadian securities. The fee depends on whether you add or remove liquidity, and which exchange fills the order.
| Scenario | Exchange | Fee/Share |
|---|---|---|
| Adding liquidity (limit orders) | EDGA | $0.004 |
| Adding liquidity (limit orders) | IEX | $0.0012 |
| Removing liquidity (market orders) | NASDAQ | $0.003 |
| Removing liquidity (market orders) | BATS, ARCA, NYSE, EDGX | $0.004 |
| Removing liquidity (market orders) | IEX | $0.0012 |
| Edge case: US OTC Securities | Any | $0.000005/share |
| Edge case: Overnight trading (8pm–2am ET) | Any | $0.003/share |
CAD stocks always free: Canadian-listed securities on the TSX, TSX-V, or CSE never incur ECN fees at Questrade. You pay $0 total — no commission, no ECN, no FX conversion if your account is in CAD.
Options Pricing
Questrade has a competitive options model with $0 base fees on USD equity options, variable CAD/index pricing, and lifecycle fees to be aware of.
| Options Type | Base Fee | Per-Contract Fee |
|---|---|---|
| USD Equity Options | $0 | $0 (Plus: $0.05 CAD cashback) |
| CAD Options | $0 | CAD $0.99/contract |
| USD Index Options | $0 | Variable volume pricing (see below) |
| Options Exercise | $24.95 | |
| Assignment | FREE | |
US Index Options: Volume Pricing
USD Index Options use a tiered per-contract pricing model based on monthly volume. Note: this schedule was active until September 27, 2026. Starting September 28, 2026, pricing reverts to a flat $0 + USD $0.99/contract for all volumes.
| Monthly Contracts | Per-Contract Fee (Marginal) |
|---|---|
| ≤250 | $0.99 |
| 251–500 | $0.75 |
| 501–1,000 | $0.50 |
| 1,001–2,500 | $0.40 |
| 2,501–5,000 | $0.30 |
| 5,001–10,000 | $0.20 |
| 10,001–50,000 | $0.15 |
| 50,001+ | $0.00 |
Pricing change effective Sept 28, 2026: From that date, USD Index Options revert to a flat $0 + USD $0.99/contract regardless of monthly volume. High-volume index options traders should factor this into their cost comparisons.
Other Asset Classes
Beyond stocks and options, Questrade offers access to fixed income, mutual funds, and more. Fees here are less competitive.
| Asset Class | Fee | Notes |
|---|---|---|
| Mutual Funds | $9.95/trade | Applies to both buy and sell |
| Bonds & GICs | FREE | Minimum $5,000 purchase to buy |
| IPOs & New Issues | FREE | Minimum $5,000 purchase to buy |
| Notes & Debentures | $0.10 per $1,000 par value per side | CSE-listed: min $1.00/side + regular commissions |
Warrants, Rights & Non-DTC Securities
Warrants and rights have a liquidity-based fee, and non-DTC eligible securities carry a significant settlement penalty.
| Security Type | Action | Fee |
|---|---|---|
| Warrants & Rights | Adding Liquidity (limit orders) | FREE |
| Warrants & Rights | Removing Liquidity — Non-CSE | 0.025% of value/fill (min $0.50, max $50.00) |
| Warrants & Rights | Removing Liquidity — CSE ≥ $1.00 | $0.0035/unit |
| Non-DTC Eligible Securities | Settlement | $450.00 penalty |
Non-DTC penalty: Securities that cannot be deposited electronically via the Depository Trust Company (DTC) clearinghouse trigger a $450 settlement penalty. This primarily affects certain OTC pink-sheet stocks and some foreign securities. Always verify DTC eligibility before trading these instruments.
Precious Metals & Alternatives
Questrade offers physical gold and silver trading through a Trade Desk. Fees are considerably higher than ETF-based gold exposure.
| Service | Fee |
|---|---|
| Questrade Gold (execution) | 0.25% per transaction |
| Precious Metals Trade Desk | $19.95 USD/trade (Buy or Sell) |
| Withdrawal Fee (Trade Desk) | $75.00 |
| Annual Storage — Gold (Pooled) | 0.60% of market value/year |
| Annual Storage — Silver (Pooled) | 0.90% of market value/year |
| Annual Storage — Separated | 1.50% of market value/year |
For most investors, holding gold ETFs (e.g., iShares Gold Bullion ETF or SPDR Gold Shares) via Questrade's $0 commission ETF trading is significantly cheaper than the Trade Desk route. Physical storage fees of 0.60–1.50%/year substantially exceed the MERs of most gold ETFs.
Special Request & Administrative Fees
Questrade charges for a range of less common services. These typically apply to complex transactions, private investments, and manual interventions.
| Service | Fee |
|---|---|
| Private Placement Request | $175.00/trade |
| Private Investment One-Time Onboarding | $250.00 |
| Private Investment Transactions | $75.00 each |
| Canadian Controlled Private Corps (CCPC) | $250.00 + $100.00/year |
| Research Request (min. 1 hour) | $75.00/hr |
| Trade Desk Execution Surcharge | $45.00 + regular commission |
| Unclaimed Property | $29.95/quarter |
| Private Investment Physical Holding | $24.95/quarter ($12.50 additional accounts) |
Verdict: Is Questrade Right for You?
Questrade is one of the best-value brokers available to Canadian residents, with genuinely $0 commissions on North American equities. The friction is concentrated in two areas: the 1.5% FX conversion fee for cross-currency trades, and punitive international equity pricing.
✅ Best for
- Canadian residents trading TSX/TSX-V stocks
- North American ETF investors (RRSP, TFSA, FHSA)
- High-volume US Index options traders (pre-Sept 2026)
- CAD/USD dual-currency flexibility
- Investors who avoid FX fees via journaling (Plus)
❌ Not ideal for
- International equity traders (1% fee + $195 minimum)
- Frequent cross-currency traders without Plus
- Traders in non-DTC OTC securities
- Physical precious metals with long-term storage
- Non-Canadian residents (account opening restricted)