My Review of the Qtrade Platform (April 2025)

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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 rating is particularly low (1.9/5 out of 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 to other regulated and popular online brokers in Canada as well as North America.

In short, I was trying to answer questions like: can Qtrade be trusted? Is the platform easy to pick up and intuitive for beginners? How much does it cost to invest with Qtrade and can you build a diversified portfolio of assets? What features does the broker offer compared to other Canadian investment platforms?

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

What to think of Qtrade?

My general opinion of 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 or growth-oriented portfolio.

Qtrade's interface seemed quite dated to me, especially compared to current standards. It's far from the experience offered by TradingView or even some mainstream brokers like Wealthsimple or Interactive Brokers. However, fundamental analysis tools are readily available, which makes sense for an investment platform. I also tested the mobile app, which does the job but remains quite basic. No customizable interface, few charting tools, and an overall ergonomics that does not encourage quick decisions.

The fees are fixed and announced in advance: $8.75 CAD per order, which remains reasonable for occasional investors but is not very competitive if you place several orders per week. No hidden spreads, 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.

In terms of security, the framework is reassuring: Qtrade is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) in Canada, and client funds are covered by the Canadian Investor Protection Fund (CIPF) up to $1 million CAD. However, 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 Suited For?

=> For long-term investors, who are looking to build a portfolio of stocks or ETFs on 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 Canadian casual 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 environment.

However, 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 a few seconds, it's:

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. However, 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 to Qtrade

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

Active traders can access reduced pricing ($6.95 per trade versus $8.75 standard), but this requires maintaining at least 150 trades per quarter, a high threshold for most users. Also note: no inactivity fees, but 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 does not impose a 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, currency conversion fees are among the highest I have tested, which can become a real obstacle if you want to diversify internationally.

Trader Tip

To avoid high currency exchange fees, consider using a service like Norbert's Gambit to convert your CAD funds to USD at a lower cost. To avoid custody fees, often all you need to do is hold an active RRSP or exceed $25,000 invested. Also, remember to consolidate your transactions 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 spot 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 leveraged CFD trading, I'd recommend brokers like IG, XTB, or CMC Markets instead, as they 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 core of the platform is based on Canadian and U.S. cash equities, ETFs, and bonds. There are also commission-free ETFs to buy, making it easy to build a long-term portfolio.

On the other hand, for traders looking for more dynamic products like Forex, indices, commodities or cryptocurrencies, Qtrade offers no solutions. It 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 quite pleasant, but very geared towards long-term investing. 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 ETFs with low fees 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 positive points, the simplicity of the platform for traditional investments (stocks and ETFs) is regularly mentioned, as well as the clarity of the analysis tools. Some also appreciate the Canadian roots of the company, 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 client 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 but very limited interface. 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 little 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, and investment objectives.
• Select the account type (individual account, TFSA, RRSP, joint account, etc.).
• Provide a valid piece of identification and proof of address that is 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 them out if needed.

Qtrade Deposits and Withdrawals

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

Trader Tip

Consider linking 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 looking to manage their portfolio within a securities account, RRSP, or 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 U.S. 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 via 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 such as the TFSA or RRSP. The absence of hidden fees, regulatory security and support in French are also significant advantages for an investor residing in Canada.

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.