Qtrade: Online Broker Canada Review: 2024

About Qtrade

Founded in 2000, Qtrade is a Canada based broker offering you stocks, Mutual Funds, IPOs, ETFs, Bonds, GICs, and Options.

The online stock broker mainly focuses on beginners and thus offers a basic, simple platform with quick signups and user-friendly interface. Its low commissions and great customer service is commendable.

Qtrade is regulated by top tier regulatory bodies like IIROC (Industry Regulatory Organization of Canada) which builds trust among the users.

Qtrade Features

• Qtrade offers a wide selection of investment options from stocks, Mutual Funds, IPOs, ETFs, Bonds, and Options to GICs.

• It offers 100 free ETFs.

• Qtrade offers low and competitive trading commissions. It charges $8.75 per trade, regardless of traded value or your account value.

• For active traders, it reduces the commission to just $6.95 per trade.

• To fulfil your research requirements, it provides you real-time quotes, customized reports, watchlists, stock-screening tools, market news, and portfolio analysis.

• Clean, simple and user-friendly platform especially suitable for beginners.

• Good and responsive customer service.

• Qtrade offers all major account types like Cash and Margin in the Non-registered accounts category; and RRSP, TFSA, RRIF and RESP in the registered accounts category.

What does Qtrade offer?

Stocks:

You can trade all Canadian stocks listed on TSX Venture Exchange (TSXV), Toronto Stock Exchange (TSX), Aequitas NEO Exchange, and the Canadian Securities Exchange (CSE). You can also trade foreign and U.S. stocks that are listed on NYSE (New York Stock Exchange) and Nasdaq. Over the counter stocks (OTCs), rights and warrants are also offered.

Options:

Qtrade offers its traders long calls, puts, spreads, and covered & uncovered writing.

ETFs:

You are offered all ETFs that are on Canadian as well as U.S. exchanges. As mentioned above, you are also offered 100 commission-free

Exchange Traded Funds. For the official list of commission-free ETFs click here.

GICs:

With no commissions, Qtrade offers you flexible GIC options with various rates and maturities.

Mutual funds:

You can choose from thousands of Mutual funds. Also, the low MER funds are available - ‘Series D’. And the best part is there is no commission for mutual funds.

IPOs:

IPOs are generally beneficial and are considered as a safe option. So you can go for IPOs or Secondary offerings.

Bonds:

You can also invest into corporate bonds or the bonds offered by Canadian and U.S. governments. Other products like commercial paper, treasury bills, and strip coupons are also offered.

Qtrade Pricing: Commission and Fees

Qtrade offers two categories in pricing i.e. Investor Pricing for casual traders and Investor Plus Pricing for active traders. The pricing of Investor Plus is low but to qualify for it, you must have 150+ trades in a quarter or you must have $500,000+ in assets with the Qtrade.

Particulars Investor Pricing Investor Plus Pricing

Stocks $8.75 $6.95

ETFs Commission-free: 100 Commission-free: 100

                                                 All others cost $8.75	          All others cost $6.95

Mutual Funds No commission No commission

Bonds $1 per $1,000 face value $1 per $1,000 face value

                                        ($24.99 min / $250 max)                    ($24.99 min / $250 max)

New issues/ IPOs No commission No commission

GICs No commission No commission

Options $8.75

• $1.25 per contract $6.95

• $1.25 per contract

Administration Fees $25 per quarter $25 per quarter

This table represents pricing of Qtrade broker.

Fortunately, you can get account administration fees waived off in many ways. For more detailed fees about registered accounts, documents, trading and administration visit Qtrade official website.

Qtrade Platform and Trading Tools

Qtrade basically offers a web-based trading platform with which you can perform standard functions that other industry players provide. You can access additional market data delayed by 15 minutes with Qtrade Streamer for $1.99 per month. If you need real-time data it is available for $14.99 (exchange fees additional) per month.

It offers you basic stock-screening tools, customized reports, portfolio analysis, market news, and watchlists, so that you can get the information when it is required and make an informed decision.

Its Portfolio Score does an assessment of your portfolio and informs you about risks involved across 5 financial dimensions, Investment Planning tools project the net worth and gives investment ideas according to your requirements.

Qtrade Research and Education

Qtrade has tie-up with third parties like Morningstar, which provides great trading ideas whether you should buy, sell, or hold any particular asset.

The broker is good in terms of providing you fundamental data. You can check financial statements, annual reports and other relevant data. The charting tools are very limited and only very few tools are available for technical analysis.

News feed is decent with third party tie-ups like InvestorObserver, Barrons, etc.

Qtrade Key Highlights

• Qtrade is a Canada based broker offering you stocks, Mutual Funds, IPOs, ETFs, Bonds, GICs, and Options.

• Low commissions and great customer service is commendable.

• It charges $8.75 per trade, regardless of traded value or your account value.

• It offers 100 free ETFs.

• Simple platform especially suitable for beginners.

• Good for fundamental analysis, but lacks in technical tools, chartings, research reports.

Who can use Qtrade?

Qtrade Investor broker is a good fit for investors who are looking to manage their own investments with a low cost reputed platform. If you are a beginner wanting a variety of investment options and customer service, it is a great platform.

Qtrade Online Trading Platform Review

Qtrade is a reputed Canadian broker offering a variety of asset classes. The trading tools, research, and education is great for a beginner, but if you are an active or advanced trader, you might find a lack of asset classes, advanced tools and techniques.

It's simple and intuitive platform with low fees and great fundamental analysis will best fit casual and novice traders.

Have you opened an account with Qtrade or any other Canadian stock broker? Do share your views thereon.