Questrade Forex Broker

Questrade Review SummaryFounded1999Registered Country/RegionCanadaRegulationCIROMarket InstrumentsStocks, ETFs, options, GICs, mutual funds, bonds, forex, CFDs, IPOs, international equities, precious metalsDemo Account✅Trading PlatformQuestrade Trading (web), QuestMobile (iOS, Android), Questrade Edge (web/desktop/mobile), Questrade Global (forex & CFDs)Minimum Deposit$10Customer SupportLive chatQuestrade Information Questrade, founded in 1999, is a well-known Canadian internet broker regulated by the CIRO. It provides a diverse selection of investment products, including stocks, ETFs, options, FX, CFDs, and more, as well as numerous account kinds customized to specific financial objectives.Pros and ConsProsCons$0 commission on stocks and ETFsNo MetaTrader (MT4/MT5) supportWide range of account types (retirement, TFSA, RESP, forex/CFD, corporate)Some products (e.g., international equities) have high minimum feesAdvanced and user-friendly proprietary platformsNo Islamic (swap-free) accounts offeredIs Questrade Legit? Yes, Questrade is legitimate. It is regulated by the Canadian Investment Regulatory Organization (CIRO) under a Market Maker (MM) license.What Can I Trade on Questrade? Questrade provides a wide range of investing products, including stocks, ETFs, options, GICs, mutual funds, bonds, FX, CFDs, IPOs, overseas equities, and precious metals.Tradable InstrumentsSupportedStocks✓ETFs✓Options✓GICs✓Mutual Funds✓Bonds✓Forex✓CFDs✓IPOs✓Equities✓Precious Metals✓Indices✗Cryptocurrencies✗Account Type Questrade provides a comprehensive range of live accounts designed to meet specific life and financial goals, such as tax-free, retirement, education, home savings, trust, corporate, margin, and forex/CFD accounts. It also offers demo accounts for practicing. However, there is no mention of Islamic (swap-free) accounts in their official publications.Account Type Suitable forTFSA (Tax-Free Savings Account)Individuals wanting tax-free growth & withdrawalsRRSP (Registered Retirement Plan)Retirement savers looking for tax benefitsRESP (Registered Education Savings)Parents saving for childrens educationFHSA (First Home Savings Account)First-time homebuyers saving for down paymentSpousal RRSP, Locked-In RRSP, LIRA, etc.Couples and retirees managing long-term fundsTrust Accounts (Formal/Informal)Families or entities managing funds under trustIndividual & Corporate Forex/CFDsActive forex and CFD traders, individuals or businessesMargin & Cash Accounts (Individual, Joint, Corporate)Traders and investors using leverage or cash tradingQuestrade Fees Questrade's overall fees are lower than many industry competitors, particularly for stock and ETF trading, which includes no commissions. Certain products, such as options, mutual funds, bonds, international equities, and precious metals, have specified fees or minimums.Trading ProductFeeStocks$0ETFsOptions$0 + ¢99 per contractForex (FX)Spread from 0.08 pipsCFDsMutual Funds$9.95 per trade; deferred sales charge if withdrawn earlyBondsMinimum $5,000 purchaseGICsMinimum $5,000 purchase; fees if withdrawn earlyInternational EquitiesMinimum $195 + exchange/stamp fees; ~1% of trade valueIPOs / New IssuesMinimum $5,000 purchase; free to buyPrecious Metals$19.95 USD per trade Non-Trading FeesNon-Trading FeesAmountDeposit Fee0Withdrawal Fee0Inactivity Fee0Trading PlatformTrading PlatformSupportedAvailable DevicesQuestrade Trading✔WebQuestMobile✔iOS, AndroidQuestrade Edge✔iOS, Android, Windows, macOS, WebQuestrade Global✔WebMetaTrader (MT4/MT5)❌—Deposit and Withdrawal Questrade does not impose any deposit or withdrawal fees. When making an Instant amount via Visa Debit or Interac, the minimum amount is $10 (CAD). Deposit OptionsDeposit MethodMinimum DepositDeposit FeesDeposit TimeVisa Debit (Instant)$10 CAD0Instant (up to daily limit, e.g., $10,000)Interac e-TransferInstant (within banks transfer time)Bank Transfer (Bill Pay)$50 CAD1–2 business daysEFT (Electronic Funds Transfer) Withdrawal OptionsWithdrawal MethodWithdrawal FeesWithdrawal TimeEFT 0Up to 5 business daysWire TransferVaries by bankRequest Withdrawal (online)Depends on withdrawal method