Questrade vs National Bank Direct Brokerage Comparison: 2024
About Questrade
Founded in 1999, Questrade is a fastest growing Canada based broker. The leading canadian broker always remained an early adopter whether it was offering $4.95 commissions, the free North American ETFs, dual-currency registered accounts, or trailer free rebates.
Every year, over 100,000 Canadians open their accounts with Questrade and Questrade currently has an AUM of $15 billion.
Regulated by the Investment Industry Regulatory Organisation of Canada (IIROC) and Canadian Investor Protection Fund (CIPF), Questrade went beyond with an additional $10 million in private insurance (for self-directed as well as managed accounts) and 100% reimbursement for unauthorized transactions.
Questrade always had an edge in terms of fees and commissions. One of the reasons is that they have low overhead costs as they have no branches.
Questrade Features
• Questrade provides trading in stocks, bonds, ETFs, options, Mutual Funds, CFDs and forex. • It also offers international equities, guaranteed investment certificates (GICs), precious metal purchases, and initial public offerings
About National Bank Direct Brokerage
National Bank Direct Brokerage Account: An Overview
National Bank Direct Brokerage (NBDB) Account is an online brokerage account that has been in the Canadian financial markets for the past 35 years from 1987. It is a part of National Bank of Canada that has been on the Canadian banking industry from the year 1859. Having said that, you are not required to be a bank account holder to open a brokerage account.
In 2021, NBDB took a giant leap by becoming the 1st broker account to offer transactions at $0 commissions and mandates no minimum balance. The account offers both US and Canadian financial instruments and it allows for you to open both US dollar account and Canadian dollar account.
Type of Accounts offered by National Bank Direct Brokerage
Here are different types of accounts being offered:
Registered Accounts
1.Tax-Free Savings Account (TFSA) 2. Registered Retirement Savings Plan (RRSP) 3. Registered Education Savings
Questrade vs National Bank Direct Brokerage Account Opening Charges: 2024
| Charge | Questrade | National Bank Direct Brokerage |
|---|---|---|
| Demat Account Opening Charges | N/A | N/A |
| Trading Acc Opening Charges | N/A | N/A |
| Trading Account AMC | N/A | N/A |
| Demat Account AMC | N/A | N/A |
Questrade vs National Bank Direct Brokerage Brokerage Charges and Plans : 2024
| Charge | Questrade | National Bank Direct Brokerage |
|---|---|---|
| Plan Name | Self Directed Investing Pricing | N/A |
| Equity Delivery | $4.95 | N/A |
| Equity Intraday | $4.95 | N/A |
| Equity Futures | N/A | N/A |
| Equity Options | $9.95 Base Fee and $1 per contract | N/A |
| Currency Futures | N/A | N/A |
| Currency Options | N/A | N/A |
| Commodity Options | N/A | N/A |
| Mutual Fund | $9.95 | N/A |
Questrade vs National Bank Direct Brokerage Margin / Exposure: 2024
| Segment | Questrade | National Bank Direct Brokerage |
|---|---|---|
| Equity Delivery | 20 | N/A |
| Equity Intraday | N/A | N/A |
| Equity Future | N/A | N/A |
| Equity Options | N/A | N/A |
| Currency Future | N/A | N/A |
| Currency Options | N/A | N/A |
| Commodity Future | N/A | N/A |
| Commodity Options | N/A | N/A |