Questrade vs Scotia iTrade 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 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. •
Questrade vs Scotia iTrade Account Opening Charges: 2024
| Charge | Questrade | Scotia iTrade |
|---|---|---|
| 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 Scotia iTrade Brokerage Charges and Plans : 2024
| Charge | Questrade | Scotia iTrade |
|---|---|---|
| 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 Scotia iTrade Margin / Exposure: 2024
| Segment | Questrade | Scotia iTrade |
|---|---|---|
| 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 |