Questrade vs Virtual Brokers 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 Virtual Brokers
About Virtual Brokers
Virtual Brokers is a Canadian Self-Directing Trading platform that offers many features to Canadian as well as Non-Canadian users. It was formed in 2009 and is a subsidiary of CI Investment Services, which is owned by CI Financial.
The platform caters to traders who prefer to perform high-frequency trades, at the same time allowing investors to invest in Stocks, Mutual Funds, Exchange Traded Funds, Bonds, etc at a low cost.
Virtual Brokers is the favorite solution for professional traders because of the wide range of trading products that it provides. Some of the most commonly used Desktop platforms are TraderLite, RealTick EMS, PowerTrader Pro, etc. We will look into them in a moment. Virtual brokers do not require any minimum balance, whereas brokers outside Canada have a minimum account Maintenance of $25,000 CAD. Being an international broker, you can trade in all the major North American markets. The platform is
Questrade vs Virtual Brokers Account Opening Charges: 2024
| Charge | Questrade | Virtual Brokers |
|---|---|---|
| Demat Account Opening Charges | N/A | 0 |
| Trading Acc Opening Charges | N/A | 0 |
| Trading Account AMC | N/A | 0 |
| Demat Account AMC | N/A | 0 |
Questrade vs Virtual Brokers Brokerage Charges and Plans : 2024
| Charge | Questrade | Virtual Brokers |
|---|---|---|
| Plan Name | Self Directed Investing Pricing | Normal Commission Structure |
| Equity Delivery | $4.95 | $1.99 |
| Equity Intraday | $4.95 | $1.99 |
| Equity Futures | N/A | N/A |
| Equity Options | $9.95 Base Fee and $1 per contract | $7.99 + $1.25/per contract |
| Currency Futures | N/A | N/A |
| Currency Options | N/A | N/A |
| Commodity Options | N/A | N/A |
| Mutual Fund | $9.95 | 0 |
Questrade vs Virtual Brokers Margin / Exposure: 2024
| Segment | Questrade | Virtual Brokers |
|---|---|---|
| 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 |