Based on our analysis Wealthsimple is a good alternative to Questrade for its cost effectiveness and Qtrade is a good alternative for Questrade for its customer services and research tools.
Questrade is one of the oldest and largest online trading platforms in Canada. This trading and investing platform was founded in 1999 and is headquartered in Toronto. As such, the brokerage account has nearly $30 billion assets under its management and nearly $250,000 new accounts are opened with Questrade every year. Let’s see what features Questrade offers before we find out its alternatives.
Questrade Trading platforms offered:
Some of the popular Questrade alternatives are:
Wealthsimple is a good alternative as it also offers both manual and robot-directed portfolios. The accounts it offers are RRSP, TFSA, RESP, RRIF, LIRA, cash account etc., Like Questrade Wealthimple, it offers socially responsible investment options. You get access to professional advisers.
You can open an account for free, with no minimum account balance and an easy sign-up process. It also does not charge any inactivity or account closure fees. There are 5 major investment products:
This platform was established in 2001 and is headquartered in Vancouver. It offers multiple account views, in-depth research, reports, screening tools, access to the market and its information. There is no minimum balance and if offers the best customer service in Canada.
You can trade in web and mobile apps both on android and iOS. The accounts it offers are TFSA, RRSP, RESP, LIRA, cash and margin accounts. It also offers corporate accounts.
It is important that you do a complete analysis of Questrade and its alternatives and open an account with the platform that best meets your needs.