{"id":259555,"date":"2024-04-19T14:54:20","date_gmt":"2024-04-19T18:54:20","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=259555"},"modified":"2024-04-19T14:54:23","modified_gmt":"2024-04-19T18:54:23","slug":"interactive-brokers-vs-questrade","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/","title":{"rendered":"Interactive Brokers vs Questrade: The Ultimate Comparison Guide"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.interactivebrokers.ca\/en\/home.php\" target=\"_blank\" rel=\"noopener\">Interactive Brokers<\/a> vs <a href=\"https:\/\/stockchase.com\/discover\/go\/questrade\/\">Questrade<\/a>\u2026 A much-needed comparison for the Canadians who are wise enough to do their due diligence before they open a brokerage account.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While both of those companies are considered \u201cdiscount brokers\u201d, there are some very important differences that you should take into account before you go with either. After all, the financial needs and investment goals are simply not the same for all.<\/span><\/p>\n<p><b>Our aim is to help you gather all the relevant information about both brokers and make an informed decision.<\/b><\/p>\n<p><b>We hope that after you go through our Interactive Brokers vs Questrade comparison, we will have achieved our goal and you will have chosen the right broker for your needs.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s get started with a head-to-head comparison table\u2026<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Discover What&#039;s Inside<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_vs_Questrade_A_Head-to-Head_Comparison\" >Interactive Brokers vs Questrade: A Head-to-Head Comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_vs_Questrade_At_a_Glance\" >Interactive Brokers vs Questrade: At a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_vs_Questrade_Account_Types\" >Interactive Brokers vs Questrade: Account Types<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_and_Questrades_Common_Account_Types\" >Interactive Brokers and Questrade\u2019s Common Account Types<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_Account_Types_that_Questrade_Doesnt_Offer\" >Interactive Brokers (Account Types that Questrade Doesn\u2019t Offer)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Questrade_Account_Types_that_Interactive_Brokers_Doesnt_Offer\" >Questrade (Account Types that Interactive Brokers Doesn\u2019t Offer)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_vs_Questrade_Offerings_and_Fees\" >Interactive Brokers vs Questrade: Offerings and Fees<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_and_Questrades_Common_Offerings\" >Interactive Brokers and Questrade\u2019s Common Offerings<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#StocksETFs\" >Stocks\/ETFs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Options\" >Options<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Bonds\" >Bonds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Metals\" >Metals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Mutual_Funds\" >Mutual Funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#International_Equities\" >International Equities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Forex\" >Forex<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#CFDs\" >CFDs<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_Offerings_that_Questrade_Doesnt_Have\" >Interactive Brokers (Offerings that Questrade Doesn\u2019t Have)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Questrade_Offerings_that_Interactive_Brokers_Doesnt_Have\" >Questrade (Offerings that Interactive Brokers Doesn\u2019t Have)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_vs_Questrade_Research_Tools\" >Interactive Brokers vs Questrade: Research Tools<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_Tools\" >Interactive Brokers\u2019 Tools:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Questrades_Tools\" >Questrade\u2019s Tools:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_vs_Questrade_Customer_Service\" >Interactive Brokers vs Questrade: Customer Service<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_Customer_Service\" >Interactive Brokers\u2019 Customer Service:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Questrades_Customer_Service\" >Questrade\u2019s Customer Service:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_vs_Questrade_Safety\" >Interactive Brokers vs Questrade: Safety<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Conclusion_Which_is_the_Right_Broker_for_you\" >Conclusion: Which is the Right Broker for you?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Interactive_Brokers_vs_Questrade_FAQ\" >Interactive Brokers vs Questrade: FAQ<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Is_Interactive_Brokers_Canada_good\" >Is Interactive Brokers Canada good?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Is_Questrade_Good_for_Beginners\" >Is Questrade Good for Beginners?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Does_Interactive_Brokers_Charge_for_Inactivity\" >Does Interactive Brokers Charge for Inactivity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/stockchase.com\/discover\/interactive-brokers-vs-questrade\/#Does_Questrade_Charge_for_Inactivity\" >Does Questrade Charge for Inactivity?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Interactive_Brokers_vs_Questrade_A_Head-to-Head_Comparison\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers vs Questrade: A Head-to-Head Comparison<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"size-medium wp-image-263794 aligncenter\" src=\"https:\/\/stockchase.com\/discover\/wp-content\/uploads\/2022\/02\/A-Head-to-Head-Comparison-760x237.png\" alt=\"Two boxing gloves pressing against each other with the logos either on or under them\" width=\"760\" height=\"237\" data-wp-pid=\"263794\" \/><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td><b>Interactive Brokers<\/b><\/td>\n<td><b>Questrade<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Ideal for<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Those who appreciate the more sophisticated research tools for investors and who are looking to pay as little as possible while trading options<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Those who are (also) interested in indexing and are looking for a wide variety of ETFs at no purchasing cost<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Account Types<\/span><\/td>\n<td>\n<ul>\n<li><span style=\"font-weight: 400;\">Individual Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Joint Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Trust Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Friends and Family Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Family Office Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Tax-Free Savings Account (TFSA)<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Registered Retirement Savings Plan (RRSP)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Small Business Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Advisor Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Money Manager Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Hedge or Mutual Fund Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Registered Investment Advisor Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Proprietary Trading Group Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Broker &amp; FCM Accounts<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Compliance Officers Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Administrators Account<\/span><\/li>\n<\/ul>\n<\/td>\n<td>\n<ul>\n<li><span style=\"font-weight: 400;\">Individual Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Corporate Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Tax-Free Savings Account (TFSA)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Registered Retirement Savings Plan (RRSP)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Registered Education Savings Plan (RESP)<br \/>\n<\/span><\/li>\n<li>First Home Savings Account (FHSA)<\/li>\n<li><span style=\"font-weight: 400;\">Individual Margin Account, Locked-In Retirement Account (LIRA)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Locked-In RRSP<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Registered Retirement Income Fund (RRIF)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Life Income Fund (LIF)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Investment Club Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Partnership Account, Sole Proprietorship Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Individual Informal Trust Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Joint Informal Trust Account<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Formal Trust Account<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cost<\/span><\/td>\n<td>\n<ul>\n<li><span style=\"font-weight: 400;\">Stocks, ETFs, and Warrants: CAD 0.01 \/ share (minimum per order: CAD 1.00)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Options: CAD 1.00 to 1.25 <\/span><span style=\"font-weight: 400;\">\/ contract<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Futures: USD 0.25 to 0.85 <\/span><span style=\"font-weight: 400;\">\/ contract<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Spot Currencies: <\/span><span style=\"font-weight: 400;\">0.08 to 0.20 <\/span><span style=\"font-weight: 400;\">Basis Points \u00d7 Trade Value <\/span><span style=\"font-weight: 400;\">\/ order<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Futures: USD 0.25 to 0.85\u00a0<\/span><span style=\"font-weight: 400;\">\/ contract<\/span><\/li>\n<\/ul>\n<\/td>\n<td>\n<ul>\n<li><span style=\"font-weight: 400;\">ETFs: Free to buy and $4.95 to $9.95 per sale transaction + $0.01 per share to sell<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Stocks: $4.95 to $9.95 per transaction + $0.01 per share<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Options: $9.95 + $1\/contract<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Bonds &amp; Canadian Guaranteed Investment Certificates: Min. $5,000 purchase<\/span><\/li>\n<li><span style=\"font-weight: 400;\">International equities: 1% of the trade value, Min. $195.00 + applicable exchange or stamp fees<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Precious Metals: US$19.95\/transaction<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Mutual funds: $9.95\/transaction<\/span><\/li>\n<li><span style=\"font-weight: 400;\">IPOs: $0 with a min. $5,000 transaction<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Currency conversion: 1.5% &#8211; 2%<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Real-time Quotes: $0<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Asset Types<\/span><\/td>\n<td>\n<ul>\n<li><span style=\"font-weight: 400;\">Stocks<\/span><\/li>\n<li><span style=\"font-weight: 400;\">ETFs<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Warrants<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Treasury Bills<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Bonds<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Forex<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Metals<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Options<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Mutual Funds<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Futures<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Single Stock Futures<\/span><\/li>\n<li><span style=\"font-weight: 400;\">International Equities<\/span><\/li>\n<li><span style=\"font-weight: 400;\">CFDs<\/span><\/li>\n<\/ul>\n<\/td>\n<td>\n<ul>\n<li><span style=\"font-weight: 400;\">Stocks<\/span><\/li>\n<li><span style=\"font-weight: 400;\">ETFs<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Options<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Forex<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Bonds<\/span><\/li>\n<li><span style=\"font-weight: 400;\">GICs<\/span><\/li>\n<li><span style=\"font-weight: 400;\">CFDs<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Metals<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Mutual Funds<\/span><\/li>\n<li><span style=\"font-weight: 400;\">International Equities<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Minimum Balance<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$100<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,000<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Interactive_Brokers_vs_Questrade_At_a_Glance\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers vs Questrade: At a Glance<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Interactive Brokers was founded in New York City 44 years ago (1978) and it has <\/span><b>$363 billion<\/b><span style=\"font-weight: 400;\"> assets under management. Questrade was founded 23 years ago (1999) and it has <\/span><b>$25 billion<\/b><span style=\"font-weight: 400;\"> under management as of January 2022.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s natural for Interactive Brokers to have way more assets under management as it\u2019s an older and more established broker with more international appeal. Having said that, Questrade is one of the fastest-growing Canadian brokers when it comes to the money they got to manage.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Interactive Brokers is strictly an online brokerage firm, while Questrade tries to be something more now. In December 2019 the company applied for a banking license so they may start offering banking services too.<\/span><\/p>\n<p><b>When it comes to cost, both brokers are cheap in their own way. Interactive Brokers is cheap for trading stocks and options frequently, while Questrade is ideal for ETF <\/b><a href=\"https:\/\/www.investopedia.com\/terms\/d\/dollarcostaveraging.asp\" target=\"_blank\" rel=\"noopener\"><b>dollar-cost averaging<\/b><\/a><b> due to the zero fees on purchasing them.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Interactive Brokers has both a tiered and fixed fee structure to choose from depending on the trading frequency and fund size. Questrade has a more simple fee structure.<\/span><\/p>\n<p><b>While Interactive Brokers has almost all of the usual account types that you may need, if you\u2019re based in Canada, Questrade offers account types such as the Locked-In Retirement Account (LIRA) that Interactive Brokers doesn&#8217;t.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Both have Robo-advisors to use if you\u2019re into passive investing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All in all, go with Interactive Brokers if you\u2019ve got some experience with trading already and you are looking to trade various assets from stocks to options at a low cost.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you are based in Canada and you are looking to buy ETFs for free or you are likely to need Canada-based retirement accounts, Questrade is for you.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Interactive_Brokers_vs_Questrade_Account_Types\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers vs Questrade: Account Types<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Interactive_Brokers_and_Questrades_Common_Account_Types\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers and Questrade\u2019s Common Account Types<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Individual Account<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">A self-directed brokerage account<\/span><\/li>\n<\/ul>\n<ul>\n<li><a href=\"https:\/\/www.investopedia.com\/terms\/t\/tax-free-savings-account-tfsa.asp\" target=\"_blank\" rel=\"noopener\"><b>Tax-Free Savings Account<\/b><\/a><b> (TFSA)<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">An investment account that you can use to invest and not get taxed on your gains<\/span><\/li>\n<\/ul>\n<ul>\n<li><a href=\"https:\/\/www.investopedia.com\/terms\/r\/rrsp.asp\" target=\"_blank\" rel=\"noopener\"><b>Registered Retirement Savings Plan<\/b><\/a><b> (RRSP)<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">A retirement account that you can invest through and reduce your taxes by subtracting\u00a0 your contributions from your income<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Small Business \/ Corporate Account<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">\u0391n account in your company\u2019s name where your business\u2019 funds will be taxed according to the corporate tax rates<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.investopedia.com\/terms\/m\/marginaccount.asp\" target=\"_blank\" rel=\"noopener\"><b>Individual Margin Account<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/a><span style=\"font-weight: 400;\">A brokerage account that allows you to use leverage to invest by borrowing money against the investments in your account<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Trust Account<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">An account (legal entity) in which the assets are held by one person or corporation for the benefit of another<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Interactive_Brokers_Account_Types_that_Questrade_Doesnt_Offer\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers (Account Types that Questrade Doesn\u2019t Offer)<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><b>Friends and Family Account<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">A master account that allows you to execute orders for family members and friends who have opened accounts with Interactive Brokers<\/span><\/li>\n<\/ul>\n<ul>\n<li><b>Family Office Account<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">A master account that is linked to multiple client accounts<\/span><\/li>\n<\/ul>\n<ul>\n<li><b>Advisor Account<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">An account for registered financial advisors<\/span><\/li>\n<\/ul>\n<ul>\n<li><b>Money Manager Account<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">An account for registered financial money managers<\/span><\/li>\n<\/ul>\n<ul>\n<li><b>Hedge or Mutual Fund Account<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">An account with one or more owners with the ability to maintain multiple sub-accounts for different strategies<\/span><\/li>\n<\/ul>\n<ul>\n<li><b>Proprietary Trading Group Account<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">An account for a corporation, partnership, limited liability company, or unincorporated legal structure to hold assets owned by the entity account holder.<\/span><\/li>\n<\/ul>\n<ul>\n<li><b>Broker &amp; FCM Accounts<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">A master account that is linked to an individual or organization client accounts and is used for fee collection<\/span><\/li>\n<\/ul>\n<ul>\n<li><b>Compliance Officers Account<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">An account that is linked to multiple individual, joint, trust, or IRA employee accounts for monitoring their trading activity<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Administrators Account<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">An account that is linked to multiple Advisor, Single or Multiple Hedge Fund, and Proprietary Trading Group accounts for providing various administrative functions to one or more client, fund, or sub-accounts<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Questrade_Account_Types_that_Interactive_Brokers_Doesnt_Offer\"><\/span><span style=\"font-weight: 400;\">Questrade (Account Types that Interactive Brokers Doesn\u2019t Offer)<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><a href=\"https:\/\/www.investopedia.com\/terms\/r\/resp.asp\" target=\"_blank\" rel=\"noopener\"><b>Registered Education Savings Plan<\/b><\/a><b> (RESP)<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">An account that is specifically for putting money aside for a child&#8217;s education<\/span><\/li>\n<\/ul>\n<ul>\n<li><a href=\"https:\/\/www.investopedia.com\/terms\/l\/locked-in-retirement-account.asp\" target=\"_blank\" rel=\"noopener\"><b>Locked-in retirement account<\/b><\/a><b> (LIRA)<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">A retirement account that doesn\u2019t permit withdrawals before retirement except in exceptional circumstances and holds a pension for a former plan member, an ex-spouse, or a surviving spouse<\/span><\/li>\n<li><strong>First Home Savings Account (FHSA)<br \/>\n<\/strong><br \/>\nA registered savings account for first time home buyers for putting money aside for a first home tax-free<strong><br \/>\n<\/strong><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Registered Retirement Income Fund (RRIF) Account<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">An account for a retirement fund that is similar to an annuity contract paying out income to one or more beneficiaries<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Life Income Fund (LIF)<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">An account similar to an RRIF, that is offered in Canada and can be used to hold locked-in pension funds and other assets for a future retirement income<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Investment Club Account<\/b><b><br \/>\n<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">An account for trading along with others (up to 10 members)<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Interactive_Brokers_vs_Questrade_Offerings_and_Fees\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers vs Questrade: Offerings and Fees<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Interactive_Brokers_and_Questrades_Common_Offerings\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers and Questrade\u2019s Common Offerings<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h4><span class=\"ez-toc-section\" id=\"StocksETFs\"><\/span><strong>Stocks\/ETFs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Interactive Brokers: <span style=\"font-weight: 400;\">CAD 0.01 per share (minimum per order: CAD 1.00)<\/span><\/p>\n<p>Questrade:<span style=\"font-weight: 400;\"> Stock trading costs $4.95 to $9.95 per transaction + $0.01 per share and ETFs are free to buy but cost $4.95 to $9.95 per transaction + $0.01 per share to sell<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Options\"><\/span><strong>Options<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Interactive Brokers:<span style=\"font-weight: 400;\"> Depending on the <\/span><a href=\"https:\/\/www.interactivebrokers.com\/en\/pricing\/commissions-options.php\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">trading volume<\/span><\/a><span style=\"font-weight: 400;\"> per month, you can expect to be paying CAD 1.00 to 1.25 per contract<\/span><\/p>\n<p>Questrade:<span style=\"font-weight: 400;\"> $9.95 per transaction + $1 per contract<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Bonds\"><\/span><strong>Bonds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Interactive Brokers:<\/p>\n<p><span style=\"font-weight: 400;\">For corporate bonds, they charge 10 basis points \u00d7 Face Value + USD 1.00 per order for the first USD 10,000 in Face Value and 2.5 basis points \u00d7 Face Value for the additional face value beyond USD 10,000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For municipal bonds, they charge 5 basis points \u00d7 face value + USD 1.00 per order for the first USD 10,000 in face value and 1.25 basis points \u00d7 face value for the additional face value beyond USD 10,000.<\/span><\/p>\n<p>Questrade:<span style=\"font-weight: 400;\"> Bonds are free to buy if the face value is at least $5,000<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Metals\"><\/span><strong>Metals<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Interactive Brokers:<\/p>\n<p><span style=\"font-weight: 400;\">For London gold and US Spot gold, they charge:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">1.5 basis points \u00d7 trade value + USD 2.00 for up to a USD 500,000 order amount,<\/span><\/li>\n<li><span style=\"font-weight: 400;\">1.0 basis point \u00d7 trade value for a USD 500,000.01 \u2013 1,000,000 order amount, and<\/span><\/li>\n<li><span style=\"font-weight: 400;\">0.7 basis point \u00d7 trade value for an order amount larger than USD 1,000,000.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">For London silver, they charge:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">3.0 basis points \u00d7 trade value + USD 2.00 for up to a USD 250,000 order amount,<\/span><\/li>\n<li><span style=\"font-weight: 400;\">2.0 basis point \u00d7 trade value for a USD 250,000.01 \u2013 500,000 order amount, and<\/span><\/li>\n<li><span style=\"font-weight: 400;\">1.5 basis point \u00d7 trade value for an order amount larger than USD 500,000.<\/span><\/li>\n<\/ul>\n<p>Questrade: <span style=\"font-weight: 400;\">$19.95 USD per trade<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Mutual_Funds\"><\/span><strong>Mutual Funds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Since Interactive Brokers offers access to different mutual funds and the cost depends on what exchange you want to buy from, a comparison with Questrade isn\u2019t possible.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Questrade charges $9.95 per transaction, regardless of what mutual fund you are looking to buy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Take a look at both the <\/span><a href=\"https:\/\/www.interactivebrokers.com\/en\/pricing\/commissions-mutual-funds.php\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">related IB page<\/span><\/a><span style=\"font-weight: 400;\"> to see what you will have to pay for the mutual fund you are looking to trade<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"International_Equities\"><\/span><strong>International Equities<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Interactive Brokers:<\/p>\n<p><span style=\"font-weight: 400;\">When it comes to European equities, you will pay USD 4.00 for trades up to USD 8,000 and 0.05% of trade value for trades over USD 8,000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For the rest of the world, it depends on what country you are looking to buy stocks in. Check <\/span><a href=\"https:\/\/www.interactivebrokers.com\/en\/pricing\/commissions-stocks-asia-pacific.php\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">this page<\/span><\/a><span style=\"font-weight: 400;\"> for more information.<\/span><\/p>\n<p>Questrade: <span style=\"font-weight: 400;\">1% of the trade value with a minimum $195.00 per transaction required + applicable exchange or stamp fees<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Forex\"><\/span><strong>Forex<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Interactive Brokers:<\/p>\n<p><span style=\"font-weight: 400;\">You will pay:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">0.20 basis point \u00d7 Trade Value + USD 2.00 for up to a USD 1,000,000,000 monthly trade amount,<\/span><\/li>\n<li><span style=\"font-weight: 400;\">0.15 basis point \u00d7 Trade Value + USD 1.50 for a monthly volume of USD 1,000,000,000.01 &#8211; 2,000,000,000,<\/span><\/li>\n<li><span style=\"font-weight: 400;\">0.10 basis point \u00d7 Trade Value<\/span> <span style=\"font-weight: 400;\">+ USD 1.25 for a monthly volume of USD 2,000,000,000.01 &#8211; 5,000,000,000, and<\/span><\/li>\n<li><span style=\"font-weight: 400;\">0.08 basis point \u00d7 Trade Value + USD 1.00 for more than USD 5,000,000,000 monthly amount.<\/span><\/li>\n<\/ul>\n<p>Questrade:<\/p>\n<p><span style=\"font-weight: 400;\">With Questrade, it depends on what currency pair you want to trade. So, take a look at the <\/span><a href=\"https:\/\/www.questrade.com\/pricing\/self-directed-commissions-plans-fees\/forex-cfd\/#FX\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">related page<\/span><\/a><span style=\"font-weight: 400;\"> to find out how much you will pay to trade currencies.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"CFDs\"><\/span><strong>CFDs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Since there are all kinds of CFDs, it\u2019s advisable to look at each broker\u2019s respective page to understand what the cost associated with trading such securities is:<\/span><\/p>\n<p><a href=\"https:\/\/www.interactivebrokers.co.uk\/en\/index.php?f=39284\" target=\"_blank\" rel=\"noopener\"><b>Interactive Brokers\u2019 CFD pricing<\/b><\/a><\/p>\n<p><a href=\"https:\/\/www.questrade.com\/pricing\/self-directed-commissions-plans-fees\/forex-cfd\/#FX\" target=\"_blank\" rel=\"noopener\"><b>Questrade\u2019s CFD pricing<\/b><\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Interactive_Brokers_Offerings_that_Questrade_Doesnt_Have\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers (Offerings that Questrade Doesn\u2019t Have)<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li aria-level=\"1\"><b>Warrants (the fees that apply are the same that apply to stocks and ETFs)<\/b><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Treasury Bills (0.2 basis points \u00d7 face value for the first USD 1,000,000 in face value and 0.01 basis points \u00d7 face value for the additional face value beyond USD 1,000,000)<\/b><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Futures (CAD 2.40 per contract, min. CAD 2.40 per order)<\/b><\/li>\n<li aria-level=\"1\"><b>Single Stock Futures (cost varies per <\/b><a href=\"https:\/\/www.interactivebrokers.com\/en\/index.php?f=1590&amp;p=ssf\" target=\"_blank\" rel=\"noopener\"><b>country<\/b><\/a><b>)<\/b><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Questrade_Offerings_that_Interactive_Brokers_Doesnt_Have\"><\/span><span style=\"font-weight: 400;\">Questrade (Offerings that Interactive Brokers Doesn\u2019t Have)<\/span><b><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li aria-level=\"1\"><b>Guaranteed Investment Certificates (GICs) (free with a min. $5,000 purchase)<\/b><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Interactive_Brokers_vs_Questrade_Research_Tools\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers vs Questrade: Research Tools<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"size-medium wp-image-263797 aligncenter\" src=\"https:\/\/stockchase.com\/discover\/wp-content\/uploads\/2022\/02\/Research-Tools-760x237.png\" alt=\"A table with a chart of stock price movements displayed\" width=\"760\" height=\"237\" data-wp-pid=\"263797\" \/><\/p>\n<p><span style=\"font-weight: 400;\">When it comes to research tools, both Interactive Brokers and Questrade have great things to offer. When it comes to variety, however, Interactive Brokers is clearly the winner here. But you\u2019ll find its tools too sophisticated to use if you\u2019re not an active and experienced trader.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Interactive_Brokers_Tools\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers\u2019 Tools:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li aria-level=\"1\"><b><b>Stock, ETF, Options, Mutual Fund, and Fixed Income Screener<\/b><\/b>A tool that allows you to set quantitative criteria and find stocks that fulfill them<\/li>\n<li aria-level=\"1\"><b><b>Calculators<\/b><\/b>IB offers various calculators that are used to predict options prices, calculate your approximate available margin for stocks\/ETFs, determine the interest that you will be charged for margin loans, etc.<\/li>\n<li aria-level=\"1\"><b><b>Trading Idea Generator<\/b><\/b>A tool that generates ideas for you to find potential trading opportunities<\/li>\n<li aria-level=\"1\"><b><b>SRI\/ESG Research Amenities<\/b><\/b>IB provides you with tools to screen for stocks that fulfill your ethical criteria<\/li>\n<li aria-level=\"1\"><b><b>Third-Party Research<\/b><\/b>With IB, you will be able to access research from analysts that is published on other authoritative websites<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Questrades_Tools\"><\/span><span style=\"font-weight: 400;\">Questrade\u2019s Tools:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li aria-level=\"1\"><b><b>Questrade Intraday Trader<\/b><\/b>A screening tool to find investment opportunities based on quantitative criteria<\/li>\n<li aria-level=\"1\"><b><b>Questrade IPO Centre<\/b><\/b>A newsletter that alerts you for any new IPOs and secondary offerings<\/li>\n<li aria-level=\"1\"><strong>News, Insights &amp; Research<\/strong>With Questrade&#8217;s platform, you will have easy access to financial news, analyst research, and investment ideas<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Interactive_Brokers_vs_Questrade_Customer_Service\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers vs Questrade: Customer Service<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"size-medium wp-image-263795 aligncenter\" src=\"https:\/\/stockchase.com\/discover\/wp-content\/uploads\/2022\/02\/Customer-Service-760x237.png\" alt=\"Some person with a headset on and microphone on a computer\" width=\"760\" height=\"237\" data-wp-pid=\"263795\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Interactive_Brokers_Customer_Service\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers\u2019 Customer Service:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li aria-level=\"1\"><b>24\/6 toll-free telephone support<\/b><\/li>\n<li aria-level=\"1\"><b>Online Live chat<\/b><\/li>\n<li aria-level=\"1\"><b>Secure message center<\/b><\/li>\n<li aria-level=\"1\"><b>AI-powered IBot that directs customers to FAQs<\/b><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Questrades_Customer_Service\"><\/span><span style=\"font-weight: 400;\">Questrade\u2019s Customer Service:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li aria-level=\"1\"><b>Available phone line from 8 am to 4:30 PM Eastern time<\/b><\/li>\n<li aria-level=\"1\"><b>Live chat<\/b><\/li>\n<li aria-level=\"1\"><b>Email support<\/b><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Interactive_Brokers_vs_Questrade_Safety\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers vs Questrade: Safety<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-263798 aligncenter\" src=\"https:\/\/stockchase.com\/discover\/wp-content\/uploads\/2022\/02\/Safety-760x237.png\" alt=\"A hand holding a phone with a lock appearing on the screen\" width=\"760\" height=\"237\" data-wp-pid=\"263798\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Regarding safety, you will have no issues with either broker as they\u2019re both regulated and provide coverage in case of insolvency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cash and securities that you hold in Interactive Brokers are protected by the SIPC (Securities Investor Protection Corporation) <\/span><b>with coverage of up to $500,000.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Questrade, now, is regulated by the <\/span><a href=\"https:\/\/www.iiroc.ca\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Investment Industry Regulatory Organization of Canada<\/span><\/a><span style=\"font-weight: 400;\"> (IIROC). <\/span><b>In other words, if Questrade goes bankrupt, your money is insured up to $1 million per account by CIPF.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">This broker also has <\/span><b>private insurance<\/b><span style=\"font-weight: 400;\"> and ensures up to <\/span><b>$10 million per client<\/b><span style=\"font-weight: 400;\">, on top of the $1 million insurance that CIPF provides.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_Which_is_the_Right_Broker_for_you\"><\/span><span style=\"font-weight: 400;\">Conclusion: Which is the Right Broker for you?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/www.interactivebrokers.ca\/en\/home.php\" target=\"_blank\" rel=\"noopener\"><b>Interactive Brokers<\/b><\/a><span style=\"font-weight: 400;\"> is best suited for sophisticated investors who are looking for low fees and a great variety of asset types to invest in and research tools to use.<\/span><\/p>\n<p><a href=\"https:\/\/stockchase.com\/discover\/go\/questrade\/\"><b>Questrade<\/b><\/a><span style=\"font-weight: 400;\">\u00a0will be ideal for those who want to invest periodically in ETFs without incurring any fees. It\u2019s also a great option for those who are looking to buy GICs and open account types only offered in Canada.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All in all, you can\u2019t really go wrong with either broker here. It just depends on what you\u2019re after as an investor.<\/span><\/p>\n<p><b>Don\u2019t forget that whatever broker you decide to go with, it\u2019s a good idea to connect your brokerage account with the rest of your assets to always have the complete picture of your finances.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s why we created <\/span><a href=\"https:\/\/wealthica.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Wealthica<\/span><\/a><span style=\"font-weight: 400;\">; to help people like you who have (or are going to have) multiple accounts that their net worths are tied to.<\/span><\/p>\n<p><b>Wealthica is a free financial data aggregator that will connect all of your accounts and give you access to what most people don\u2019t have; a definite idea of where you are financially so you know where to go.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Sign up to Wealthica today and get control of your finances\u2026\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Interactive_Brokers_vs_Questrade_FAQ\"><\/span><span style=\"font-weight: 400;\">Interactive Brokers vs Questrade: FAQ<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Is_Interactive_Brokers_Canada_good\"><\/span><span style=\"font-weight: 400;\">Is Interactive Brokers Canada good?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Interactive Brokers Canada is as good as the broker itself. That\u2019s because there is not a significant difference between them as the former is just based on Canada. The offerings and fees are the same (except in CAD).<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Questrade_Good_for_Beginners\"><\/span><span style=\"font-weight: 400;\">Is Questrade Good for Beginners?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Questrade has a user-friendly, yet sophisticated, platform that is designed for both beginners and experienced investors alike.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Does_Interactive_Brokers_Charge_for_Inactivity\"><\/span><span style=\"font-weight: 400;\">Does Interactive Brokers Charge for Inactivity?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">No, Interactive Brokers no longer charge an inactivity fee.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Does_Questrade_Charge_for_Inactivity\"><\/span><span style=\"font-weight: 400;\">Does Questrade Charge for Inactivity?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">No, you will not incur any inactivity fee with a Questrade account.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Interactive Brokers vs Questrade\u2026 A much-needed comparison for the Canadians who are wise enough to do their due diligence before they open a brokerage account. While both of those companies are considered \u201cdiscount brokers\u201d, there are some very important differences [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":263796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[41],"tags":[],"class_list":["post-259555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reviews"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/259555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=259555"}],"version-history":[{"count":3,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/259555\/revisions"}],"predecessor-version":[{"id":341328,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/259555\/revisions\/341328"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/263796"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=259555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=259555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=259555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}