My review of the Qtrade platform (April 2025)

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Warning!

Qtrade is not available for investors in the United States. To find out the exact eligibility requirements for this broker, we recommend that you consult the official Qtrade website.

Qtrade is a Canadian investment platform primarily geared towards individuals looking to invest in stocks, ETFs, bonds, or mutual funds. The platform is well-regulated but remains very limited in terms of trading functionalities. Its Trustpilot score is particularly low (1.9/5 based on 35 reviews), which reflects a marked dissatisfaction with the overall user experience.

I’ve spent the last 6 months signing up, testing, and deeply analyzing Qtrade, and I've sought to compare the platform with other popular and regulated online brokers in the United States.

In short, I was trying to answer questions like: can Qtrade be trusted? Is the platform easy to learn and intuitive for beginners? How much does it cost to invest with Qtrade and can a diversified asset portfolio be built? What features does the broker offer compared to other Canadian and United States investment platforms?

I've thoroughly examined everything: the account opening process, management and trading fees, available financial instruments, features, and the simplicity of the platform (both desktop and mobile), along with the trading tools. Below is my in-depth analysis of the Qtrade broker, compared with other platforms I've tested.

What to think about Qtrade?

My Overall Opinion on Qtrade

After several weeks of testing, I consider Qtrade more of a long-term investment platform than a true trading broker. The offer is clear: no CFDs, no Forex, no cryptos. Here, you buy and sell stocks, ETFs and mutual funds on the North American markets. The selection of assets is therefore restricted to these classes, but it may suit those looking to manage a classic dividend-oriented or growth-oriented portfolio.

Qtrade's interface seemed quite dated to me, especially compared to current standards. It's far from an experience like that offered by TradingView or even some mainstream brokers like Wealthsimple or Interactive Brokers. On the other hand, the fundamental analysis tools are well present, which makes sense for an investment platform. I also tested the mobile application, which does the job but remains quite basic. No customizable interface, few graphic tools, and a general ergonomics that does not favor quick decisions.

Fees are fixed and announced in advance: $8.75 CAD per order, which is reasonable for occasional investors, but not very competitive if you place several orders per week. No hidden spread, but you must add quarterly custody fees of $25 if your balance is less than $25,000 CAD, which clearly penalizes small investors. Also note the absence of inactivity fees for RRSP or TFSA accounts.

From a security standpoint, the framework is reassuring: Qtrade is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and client funds are covered by the Canadian Investor Protection Fund (CIPF) up to CAD 1 million. But despite these guarantees, the very low Trustpilot score (1.9/5 based on 35 reviews) reflects widespread frustration related to customer service and frequent connection bugs.

Which Trader Profiles is Qtrade Aimed At?

=> For long-term investors, who are looking to build a portfolio of stocks or ETFs in the North American markets, using a registered account like an RRSP or a TFSA. Qtrade's model is well suited to this type of profile, especially thanks to the integration of guided portfolios and financial planning services.

=> For users looking for discretionary management services through a managed portfolio solution. Qtrade offers a service called Guided Portfolios, which allows you to delegate management to experts while maintaining some visibility into performance and investment choices.

=> For occasional Canadian traders who are not looking for advanced features such as technical analysis or scalping, but simply want to buy a few stocks per month to grow their savings in a tax-advantaged manner.

On the other hand, Qtrade is not well suited for active traders, scalpers, or those who want exposure to other asset classes like cryptocurrencies, CFDs, or Forex. The lack of advanced charting tools, the absence of external platforms like MetaTrader or TradingView, and especially the fixed cost of transactions make this platform completely unsuitable for this type of profile.

Qtrade in seconds, it is:

My opinion on the security and reliability of the Qtrade broker

Qtrade is a recognized player in the Canadian investment landscape, with rigorous supervision by local authorities. If you are looking for a secure platform to build a long-term portfolio, particularly within an RRSP or TFSA, the regulatory framework and guarantees offered are reassuring. However, some user feedback indicates technical slowness and difficulties in contacting customer support.

As a Canadian investor, Qtrade offers a serious and well-regulated framework. But for an international or more active trader, the coverage remains too limited, both in terms of markets and the tools offered.

My opinion on the fees, spreads and commissions applied on Qtrade

What struck me about Qtrade is the pricing structure, which is primarily aimed at long-term investors, with a well-defined fee policy that can quickly penalize small portfolios. There are no spreads in the strict sense, as with CFD brokers, since the transactions involve real assets. On the other hand, fixed brokerage fees can become restrictive if you place frequent, small orders.

Active traders can access reduced pricing ($6.95 per order versus a standard $8.75), but this requires maintaining at least 150 trades per quarter, a high threshold for most users. Also note: there are no inactivity fees, but there are quarterly custody fees of $25, unless certain conditions are met.

Let's now look in detail at the broker's fee schedule.

What are the account fees?

After using Qtrade for several weeks, I noticed that the fees are consistent with those of major Canadian brokerage platforms, but clearly geared towards high-value or passive strategy profiles. Custody fees can quickly add up if you do not hold at least $25,000 in your account or if you do not have an RRSP, TFSA, or other registered vehicle.

Qtrade doesn’t impose any minimum deposit, which is a strong point compared to other brokers. This allows you to open an account gradually, without initial constraints. On the other hand, the currency conversion fees are among the highest I've been able to test, which can become a real obstacle if you want to diversify internationally.

Trader Tip

To avoid high exchange fees, I used a service like Norbert's Gambit to convert my CAD funds into USD at a lower cost. And to avoid custody fees, it is often enough to hold an active RRSP or exceed $25,000 invested. Also, consider grouping your trades to reduce the unit cost of commissions.

What are the fees on stocks and ETFs?

At Qtrade, you invest directly in stocks and ETFs, which means no spread or leverage like with CFD brokers. Fixed commissions are in the Canadian average, but can quickly accumulate if you place a lot of orders. On the other hand, zero-commission ETFs (selection of free purchases) are an asset if you opt for a long-term strategy.

What are the fees on cryptocurrencies?

Qtrade does not allow investing in cryptocurrencies, either in cash or in the form of derivative products. If you want to integrate cryptos into your portfolio, I recommend using a specialized exchange like Kraken or Coinbase, or a hybrid platform like eToro which allows direct investment with transfer to a wallet.

What are the fees on CFDs?

Qtrade does not offer CFD trading. All available investments are made directly (stocks, ETFs, bonds, mutual funds, etc.), without leverage or derivative products.

If you're looking for a platform specializing in CFD trading with leverage, I'd recommend brokers like IG, XTB, or CMC Markets, which offer a wide range of assets with suitable risk management tools.

My Opinion on Assets & Markets Available on Qtrade

Qtrade's offering is clearly aimed at traditional investors. The heart of the platform is based on Canadian and American spot stocks, ETFs and bonds. There are also commission-free ETFs to buy, which makes it easy to build a long-term portfolio.

On the other hand, for traders looking for more dynamic products such as Forex, indices, commodities or cryptocurrencies, Qtrade offers no solution. This is not a platform oriented towards active trading, but rather passive investment and diversified portfolio management.

My opinion on the platform

As a trader, I found the user experience at Qtrade to be quite pleasant, but very geared towards long-term investment. The platform is stable, intuitive, and highlights effective research tools for comparing funds and stocks. On the other hand, there is no advanced platform or real-time trading functionality. It is clearly a portfolio management tool more than a trading station.

Trader Tip

For passive investors, finding low-fee ETFs is particularly easy on Qtrade. I recommend using the built-in filters to identify commission-free ETFs for purchase and optimize your long-term costs.

Customer Reviews: What Users Think of Qtrade

Qtrade has an average rating of 1.9/5 on Trustpilot, based on 35 user reviews. This is a low rating that reflects a number of dissatisfactions expressed by customers in their recent comments.

Among the positives, the simplicity of the platform for traditional investments (stocks and ETFs) and the clarity of the analysis tools are regularly mentioned. Some also appreciate the company's Canadian roots, with good access to local markets.

However, negative reviews are very frequent and converge around several points: an interface that is sometimes outdated, high fees on certain transactions (especially withdrawals or account closures), customer service deemed slow or unresponsive, and technical problems when executing certain orders. Several clients also mention a lack of innovation compared to more modern brokers.

Examples of customer reviews:

M.G. (January 8, 2024) "The platform is okay, but as soon as you need assistance, it's radio silence. Customer service is not up to par."

J.T. (February 3, 2024) "Clean interface but very limited. No advanced tools for technical analysis, and the fees surprised me on withdrawals."

K.M. (March 12, 2024) "Qtrade is good for buying Canadian ETFs, but for everything else, I find them outdated. Even their charts are basic."

Account Opening

Opening an account with Qtrade is done entirely online, but the process is a bit longer and more rigid than with other brokers. I was able to create my profile in about thirty minutes, but full validation took 48 hours for all documents to be processed. The interface is clean but geared towards Canadian investors familiar with the local regulatory framework.

Here are the steps to follow:

• Go to the Qtrade website and click "Open an Account"
• Fill out the form with your personal information, tax status, investment goals
• Select the account type (individual account, TFSA, RRSP, joint account, etc.)
• Provide a valid ID and proof of address less than 3 months old
• Electronically sign the regulatory forms
• Wait for the confirmation email once the file has been validated

Good to know

Qtrade offers several types of tax-advantaged accounts for Canadian residents (RRSP, TFSA, etc.), but this implies knowing the specific conditions well. Support is available by telephone to assist you with filling it out if needed.

Qtrade Deposits and Withdrawals

The deposit and withdrawal system at Qtrade is functional but limited: only bank transactions are allowed, which may lengthen the delays. No fees are charged on deposits, but withdrawals may be charged depending on the type of account and the method used. I recommend consulting the specific fees in the customer area before validating a transaction.

Trader Tip

Remember to link your primary bank account upon registration to avoid any additional delays during your first transfer. Qtrade often takes more than a day to establish the connection with your bank, which can slow down your initial investments.

Account Types Available on Qtrade

Qtrade primarily caters to self-directed, long-term investors who are looking to manage their portfolio within a securities account, a RRSP, or a TFSA. The platform does not offer derivative products like CFDs or algorithmic trading functionalities. Its offering is more focused on traditional investment accounts and wealth planning, with access to a wide selection of Canadian and American securities.

Conclusion: Should You Invest with Qtrade?

After several weeks of use, I would say that Qtrade is a reliable and serious platform for those who want to invest in the stock market in Canada independently. It is not a broker designed for day trading or short-term speculation, but rather for building a long-term portfolio through stocks, ETFs or mutual funds.

I appreciated the clarity of the interface, the quality of the fundamental research tools, and especially the access to different types of tax-advantaged accounts. The absence of hidden fees, regulatory security and support are also significant advantages for an investor residing in the United States.

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.