Scotia iTrade vs Qtrade Comparison: 2024

About Scotia iTrade

Scotia iTrade is one of the leading Canadian discount brokers which now comes under the umbrella of Scotiabank, which is among the top 5 banks in Canada. It emerged after Scotiabank purchased E*TRADE Canada in the year 2008.

Focusing on active traders, they invest in cutting-edge technology to build powerful platforms. On the other hand, iTrade also offers great educational tools for novice traders.

Scotia iTrade

If you plan to open a registered account with Scotia iTRADE, you have the following options: • Tax-free savings accounts (TFSAs) • Registered education savings plans (RESPs) • Registered retirement savings plans (RRSPs) • Locked-in retirement accounts (LIRAs) • Registered retirement income funds (RRIFs) • Locked-in retirement savings plans (LRSPs)

Features of Scotia iTrade

• Low commissions: You can trade for as low as $4.99 • In-depth research by Scotiabank. • Powerful Trading Platforms: iTRADE offers 3 trading platforms: OnLine, TradingDesk, and FlightDesk. All the three are intuitive, customizable, and loaded with great tools. •

About Qtrade

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. •