My review of the Qtrade platform (April 2025)

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Warning!

Qtrade is not available for investors in Singapore. For specific eligibility requirements for this broker, we recommend consulting the official Qtrade website.

Qtrade is a Canadian investment platform primarily geared towards individuals looking to invest in stocks, ETFs, bonds, or mutual funds. The platform is well-regulated but remains very limited in terms of trading functionalities. Its Trustpilot score is particularly low (1.9/5 based on 35 reviews), reflecting significant dissatisfaction with the overall user experience.

I’ve spent the last 6 months signing up, testing, and thoroughly analyzing Qtrade, and I've looked to compare the platform to other popular and regulated online brokers in Singapore and North America.

In summary, I was trying to answer questions like: Can we trust Qtrade? Is the platform easy to use, intuitive for beginners? How much does it cost to invest with Qtrade, and can we build a diversified portfolio of assets? What features does the broker offer compared to other Canadian and Singaporean investment platforms?

So I've examined everything closely: account opening process, management and trading fees, available financial instruments, features, simplicity of the platform (desktop and mobile) and trading tools, etc. Below is my in-depth analysis of the broker Qtrade (compared to other platforms tested).

What to think of Qtrade?

My general opinion on Qtrade

After several weeks of testing, I consider Qtrade more of a long-term investment platform than a true trading broker. The offer is clear: no CFDs, no Forex, no cryptos. Here, you buy and sell stocks, ETFs, and mutual funds on the North American markets. The selection of assets is therefore restricted to these classes, but it may suit those looking to manage a classic portfolio oriented towards dividends or growth.

Qtrade's interface seemed quite dated to me, especially compared to current standards. It's far from an experience like that offered by TradingView or even some mainstream brokers like Wealthsimple or Interactive Brokers. However, the fundamental analysis tools are well present, which makes sense for an investment platform. I also tested the mobile application, which does the job but remains quite basic. No customizable interface, few graphic tools, and an overall ergonomics that does not favor quick decisions.

Fees are fixed and announced in advance: $8.75 CAD per order, which is reasonable for occasional investors, but not very competitive if you place several orders per week. No hidden spreads, but you must add quarterly custody fees of $25 if your balance is less than $25,000 CAD, which clearly penalizes small investors. Also note the absence of inactivity fees for CPF or SRS accounts.

In terms of security, the framework is reassuring: Qtrade is regulated by the Monetary Authority of Singapore (MAS) in Singapore, and client funds are protected. However, despite these guarantees, a very low Trustpilot score (1.9/5 out of 35 reviews) reflects widespread frustration related to customer service and frequent connection bugs.

Which trader profiles is Qtrade suitable for?

=> For long-term investors looking to build a portfolio of stocks or ETFs in the North American markets, using a registered account such as a RRSP or a TFSA. Qtrade's model is well suited to this type of profile, particularly through the integration of guided portfolios and financial planning services.

=> For users looking for discretionary management services through a managed portfolio solution. Qtrade offers a product called Guided Portfolios, which allows you to delegate management to experts, while maintaining some visibility into performance and investment choices.

=> For Canadian occasional traders, who are not looking for advanced features such as technical analysis or scalping, but simply want to buy a few stocks per month to grow their savings in a tax-advantaged manner.

On the other hand, Qtrade is not suitable for active traders, scalpers, or those who want exposure to other asset classes such as cryptocurrencies, CFDs, or Forex. The lack of advanced charting tools, the absence of external platforms like MetaTrader or TradingView, and especially the fixed cost of transactions make this platform completely unsuitable for this type of profile.

Qtrade in a few seconds is:

My opinion on the security and reliability of the Qtrade broker

Qtrade is a well-regarded player in the Canadian investment landscape, with rigorous oversight by local authorities. If you're looking for a secure platform to build a long-term portfolio, particularly within an RRSP or TFSA, the regulatory framework and guarantees offered are reassuring. However, some user feedback indicates technical slowness and difficulties contacting customer support.

As a Singaporean investor, Qtrade offers a sound and well-regulated framework. However, for an international or more active trader, the coverage remains too limited, both in the markets and in the tools offered.

My opinion on the fees, spreads and commissions applied on Qtrade

What struck me about Qtrade is the pricing structure, which is primarily aimed at long-term investors, with a well-defined fee policy that can quickly penalize small portfolios. There are no spreads as such, as with CFD brokers, since the transactions relate to actual assets. On the other hand, fixed brokerage fees can become restrictive if you place frequent small orders.

The most active investors can access reduced pricing ($6.95 per order versus $8.75 standard), but this requires maintaining at least 150 trades per quarter, a high threshold for most users. Also note: no inactivity fees, but quarterly custody fees of $25, unless certain conditions are met.

Let's now look in detail at the broker's fee schedule.

What are the account fees?

After using Qtrade for several weeks, I noticed that the fees are consistent with those of major Canadian brokerage platforms, but clearly geared towards high-value or passive strategy profiles. Custody fees can quickly become a burden if you don't hold at least $25,000 in your account or if you don't have an RRSP, TFSA or other registered vehicle.

Qtrade does not impose any minimum deposit, which is a strong point compared to other brokers. This allows you to open an account gradually, without initial constraints. However, currency conversion fees are among the highest I have tested, which can become a real obstacle if you want to diversify internationally.

Trader Tip

To avoid high currency exchange fees, consider using a service like Norbert’s Gambit to convert your funds to USD at a lower cost. And to avoid custody fees, often you just need to hold an active retirement account or exceed $25,000 invested. Also, consider grouping your trades to reduce the unit cost of commissions.

What are the fees on stocks and ETFs?

With Qtrade, you invest directly in stocks and ETFs, which means no spread or leverage like with CFD brokers. Fixed commissions are in the Canadian average, but can quickly add up if you place a lot of orders. On the other hand, zero-commission ETFs (selection of free purchases) are an asset if you opt for a long-term strategy.

What are the fees on cryptocurrencies?

Qtrade does not allow investment in cryptocurrencies, either spot or in the form of derivative products. If you want to integrate cryptos into your portfolio, I recommend using a specialized exchange such as Kraken or Coinbase, or a hybrid platform such as eToro which allows direct investment with transfer to a wallet.

What are the fees on CFDs?

Qtrade does not offer CFD trading. All available investments are made directly (stocks, ETFs, bonds, mutual funds, etc.), without leverage or derivative products.

If you are looking for a platform specializing in CFD trading with leverage, I would rather recommend brokers like IG, XTB or CMC Markets, which offer a wide range of assets with suitable risk management tools.

My opinion on the assets & markets available on Qtrade

Qtrade's offering is clearly aimed at traditional investors. The heart of the platform is based on Canadian and US spot equities, ETFs and bonds. There are also commission-free ETFs for purchase, making it easy to build a long-term portfolio.

On the other hand, for traders looking for more dynamic products such as Forex, indices, commodities or cryptocurrencies, Qtrade offers no solution. It is not a platform oriented towards active trading, but rather passive investment and diversified portfolio management.

My opinion on the platform

As a trader, I found the user experience at Qtrade rather pleasant, but very geared towards long-term investing. The platform is stable, intuitive, and highlights effective research tools for comparing funds and stocks. However, there is no advanced platform or real-time trading functionality. It is clearly a portfolio management tool more than a trading station.

Trader Tip

For passive investors, finding ETFs with low fees is particularly easy on Qtrade. I recommend using the built-in filters to identify commission-free ETFs to buy and optimize your costs over the long term.

Customer Reviews: What Users Think of Qtrade

Qtrade has an average rating of 1.9/5 on Trustpilot, based on 35 user reviews. This is a low rating that reflects a number of dissatisfactions expressed by customers in their recent comments.

Among the positives, the simplicity of the platform for traditional investments (stocks and ETFs) and the clarity of the analysis tools are regularly mentioned. Some also appreciate the Canadian roots of the company, with good access to local markets.

On the other hand, negative reviews are very frequent and converge around several points: an interface that is sometimes outdated, high fees on certain transactions (especially withdrawals or account closures), customer service deemed slow or unresponsive, and technical problems when executing certain orders. Several clients also mention a lack of innovation compared to more modern brokers.

Examples of customer reviews:

M.G. (January 8, 2024) « The platform is okay, but as soon as you need assistance, it's radio silence. Customer service is not up to par. »

J.T. (February 3, 2024) « Clean but very limited interface. No advanced tools for technical analysis, and the fees surprised me on withdrawals. »

K.M. (March 12, 2024) « Qtrade is good for buying Canadian ETFs, but for everything else, I find they are outdated. Even their charts are basic. »

Account Opening

Opening an account with Qtrade is done entirely online, but the process is a little longer and more rigid than with other brokers. I was able to create my profile in about thirty minutes, but the full validation took 48 hours, the time it took for all the documents to be processed. The interface is clean but geared towards Canadian investors familiar with the local regulatory framework.

Here are the steps to follow:

• Go to the Qtrade website and click "Open an Account".
• Fill out the form with your personal information, tax status, and investment objectives.
• Select the account type (individual account, TFSA, RRSP, joint account, etc.).
• Provide a valid ID and proof of address less than 3 months old.
• Electronically sign the regulatory forms.
• Wait for the confirmation email once the application has been validated.

Good to know

Qtrade offers several types of tax-advantaged accounts for Canadian residents (RRSP, TFSA, etc.), but this implies knowing the specific conditions. Support is available by telephone to assist you during the filling if needed.

Qtrade Deposits and Withdrawals

The deposit and withdrawal system at Qtrade is functional but limited: only bank transactions are allowed, which may lengthen the delays. No fees are charged on deposits, but withdrawals may be charged depending on the account type and method used. I recommend checking the specific fees in the customer area before validating a transaction.

Trader Tip

Remember to link your primary bank account upon registration to avoid any additional delays during your first transfer. Qtrade often takes more than a day to establish the connection with your bank, which can slow down your initial investments.

Account Types Available on Qtrade

Qtrade primarily caters to self-directed, long-term investors looking to manage their portfolio within a securities account, an RRSP, or a TFSA. The platform does not offer derivative products like CFDs or algorithmic trading functionalities. Its offering is more focused on traditional investment accounts and wealth planning, with access to a wide selection of Canadian and US securities.

Conclusion: Should You Invest with Qtrade?

After several weeks of use, I would say that Qtrade is a reliable and serious platform for those who want to invest in the stock market in Canada independently. It is not a broker designed for day trading or short-term speculation, but rather for building a long-term portfolio via stocks, ETFs or mutual funds.

I appreciated the clarity of the interface, the quality of the fundamental research tools, and especially the access to different types of tax-advantaged accounts. The absence of hidden fees, regulatory security and support are also significant assets for an investor residing in Singapore.

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.