Questrade Trading Fees: What Reddit Users Reveal That You Should Know

“Is Questrade actually worth it?”
If you’ve ever stumbled upon Reddit threads while researching brokerage fees, you've likely encountered this exact question about Questrade. The online discourse is extensive, and for a good reason. With so many brokers offering "zero-commission" trading, it begs the question: how does Questrade stand out, and are there hidden costs Redditors are discussing?

A Common Misconception: Zero-Commission Equals Free Trading

Many newcomers jump into online brokers lured by zero-commission marketing only to find there are often other fees at play. While Questrade boasts competitive commission rates, Reddit users frequently stress the importance of understanding the fine print. Hidden fees and additional costs can quickly add up if you're not paying attention.

In one of the most upvoted comments on Reddit’s popular Personal Finance Canada forum, a user pointed out that "Questrade is good, but it’s not free.” Unlike some U.S. brokers, Questrade charges commissions for stock trades. Their fees start at $4.95 per trade and can go up to $9.95, depending on the volume. The reality? Active traders might find these fees manageable, but infrequent traders can see their profits chipped away.
Here's a breakdown of Questrade’s core trading fees:

Fee Type	Rate
Stocks (per trade)	$4.95 to $9.95
Options (per trade)	$9.95 + $1 per contract
ETF purchases	Free
ETF sales	$4.95 to $9.95

Redditors often praise the fact that ETF purchases are commission-free, making it a great option for passive investors looking to build a low-cost ETF portfolio. However, selling those ETFs will cost you between $4.95 and $9.95 per trade. Many users note that while Questrade's pricing is more competitive than traditional banks, they’re not exactly "free."

The FX Conversion Fee Dilemma

Another hot topic on Reddit is Questrade’s foreign exchange (FX) fees. This comes into play when you're buying U.S.-listed securities. Redditors are quick to warn: Questrade charges a 1.5% fee on currency conversions. If you’re dealing with both U.S. and Canadian stocks, this can significantly affect your bottom line.

“I got hit with the 1.5% FX fee more times than I care to admit,” shared one frustrated Redditor. Workaround? Some users recommend a technique called Norbert’s Gambit, a way to minimize these fees by using a dual-listed stock to convert currencies at near spot rates. However, this method requires a certain level of sophistication and effort, something not all users are comfortable with.

| FX Conversion Fees | 1.5% on CAD/USD conversions |

What About Account Fees?

Beyond trading fees, Redditors advise keeping an eye on account-related charges. While Questrade doesn’t have inactivity fees, it does have data fees and charges for additional services. If you want real-time market data for advanced trading, Questrade offers packages that range from $19.95 to $89.95 per month. However, these fees can be rebated depending on your trading activity. Reddit users often mention that while this is manageable for active traders, casual investors might want to stick with basic market data, which is free.

Data Packages	Cost per Month
Basic Canadian Data	Free
Advanced U.S. Data	$19.95
Premium Canadian/U.S. Data	$89.95 (rebate possible)

Comparing to Competitors: Why Redditors Still Choose Questrade

Given all the above fees, why do Redditors still seem to favor Questrade? For one, its fee structure is transparent, unlike many banks that bury costs in hard-to-find fine print. Moreover, Questrade is highly regarded for its low minimum deposit requirement and its wide range of investment options, including stocks, bonds, ETFs, and even forex.

One Redditor highlighted, “Questrade’s platform is way more advanced than Wealthsimple’s, especially if you’re looking for options trading or margin accounts.” Additionally, Questrade is frequently praised for its customer service and ease of use, particularly for those new to investing.

A Reddit Favorite: Passive ETFs
While active traders debate Questrade’s fees, Reddit’s investment communities often recommend the platform for those seeking to build a low-cost ETF portfolio. Since Questrade offers commission-free ETF purchases, it's ideal for long-term investors who want to use a dollar-cost averaging strategy. This is frequently compared to Wealthsimple Trade, which offers completely commission-free trading but lacks advanced features like margin accounts or options trading.

One Redditor in the CanadianInvestor subreddit summarized it well: “If you’re someone who buys ETFs regularly and doesn’t trade a ton, Questrade’s fees are fair. But if you’re a day trader, it might not be the cheapest option.”

Platform	Trading Fees	Advantages
Questrade	$4.95–$9.95 per trade (free ETF purchases)	Advanced platform, low-cost ETF options
Wealthsimple Trade	$0 commission	Completely free trades but limited tools

Should You Use Questrade? Here’s the Bottom Line

At the end of the day, Reddit users highlight that Questrade is a middle ground for most Canadian investors. It’s not the cheapest, but it's also not the most expensive. For long-term investors, especially those focusing on ETF portfolios, Questrade’s fee structure is manageable. However, if you're an active trader or someone who deals frequently in U.S. stocks, the FX fees and commission rates might give you pause.

One final Reddit tip: If you plan on trading frequently, consider a platform like Interactive Brokers, which offers lower commissions for high-volume traders. Otherwise, for the average investor, Questrade offers a solid mix of affordability, functionality, and support.

Conclusion:
The discourse on Reddit reveals that while Questrade is not "free," it’s transparent and competitive. Whether it’s worth it comes down to how often you trade, what you trade, and your tolerance for additional fees like currency conversion.