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Firstrade vs Questrade : Fees, Safety & Trading Conditions Compared (2026)
Broker Name
Firstrade
Questrade
Broker Overview
Broker Type (e.g., Market Maker, ECN/STP)
STP broker
ECN
Years of Existence / Established Year
1985
1999
Customer Base / Number of Accounts
1Million
Info not available
Regulation & Security
Regulations (governing bodies)
FINRA, SEC
CIRO
Awards Won (count for the last 2 years)
Best Online Brokers, Best for Options Traders award.
DALBAR seal of service excellence in 2024 for the 6th consecutive year Canada's #1 rated online broker by MoneySense
Security Measures
SIPC
CIPF
SSL Encryption / 2FA
Yes
Yes
Segregated Funds
Yes
No
Negative Balance Protection
No
Yes
Trading Instruments/Products Offered
Assets Types / Trading Instruments (total count and breakdown)
2200+ ETFs including CDs, Treasury bills, Notets and bonds, Primary market CDs, Zeros and strips and more
GICs IPOs
Currency Pairs
No
Yes
Commodities
No
Yes
Indices
Yes- Through ETFs
Yes
Cryptocurrencies
Yes- Through ETFs
Yes
CFDs
No
Yes
ETFs
Yes
Yes
Stocks
Yes
Yes
Options
Yes
Yes
Futures
No
No
Bonds
Yes
Yes
Mutual Funds
Yes
Yes
Fractional Shares
Exchange Traded Notes (ETNs)
Yes
No
Precious Metals
No
Yes
Real Estate Investment Trusts (REITs)
Yes
No
Equities
No
Yes
Trading Platforms & Technology
Trading Platform Availability
Yes
Yes
MT4
No
No
MT5
Yes
No
cTrader
No
No
Social Trading
No
Copy Trading
No
No
Other Trading Platforms (proprietary, etc.)
Firstrade platform
All-in-One Platforms Questrade Trading Quest MobileAdvanced Trading Platforms Questrade Edge Mobile Questrade Edge Questrade Global
Platform Compatibility (Windows, Mac, iOS, Android)
Yes
Yes
Account Types & Conditions
Account Types (Retail, Pro, VIP, etc.)
Brokerage account- Individual, Joint, Custodial, Retirement- Retirement (Traditional IRA, Roth IRA, SEP IRA), Corporate, Trust, International, Education Planning, Business Planning
Tax-Free Savings Account - TFSA Registered Retirement Savings Plan - RRSP First Home Savings Account - FHSA Registered Education Savings Plan - RESP
Demo Account (Yes/No)
No
Yes
Islamic Accounts (Yes/No)
No
No
Minimum Deposit
$0
$250
Leverage Available
No
NA
Trade Limit (maximum per trade)
Depends on asset class
Varies by instrument
Commission (per account type)
$0
Casual Traders (Basic) Stocks - $4.95 to $9.95 Options - $9.95 + $1 / contract ETFs - Free(sell 1c/share min $4.95 to max $9.95)Options and day traders (Fixed) Stocks - $4.95 to $9.95 Options - $4.95 + $0.75 / contract ETFs - Free (sell for $4.95 per trade)Volume traders (Variable) Stocks - $4.95 to $9.95 (min $0.01 to max $6.95) Options - $6.95 + $0.75 / contract ETFs - Buy for free (sell 1c/share min $4.95 to max $9.95)
Best Suited For (e.g., beginners, experienced traders)
Both beginners and experienced traders
Beginners
Deposit & Withdrawal Options
Deposit Methods
Wire Fund Transfer, Check deposit, Asset transfer, ACH electronic transfer
Instant deposit (Visa & Interac Debit cards) - CAD only Online banking bill payment - CAD only Pre-authorized deposit - CAD & USD Transfers from other brokers - CAD & USD Wire transfer - CAD & USD Non-certified cheque - CAD & USD Stock certificate
Withdrawal Methods
Wire Fund Transfer, Check Deposit, Asset transfer, ACH electronic transfer, Withdrawal of sales proceed
EFTs (CAD or USD) Wire transfers (CAD or USD)
Other E-Wallets Supported
No
No
Tools & Educational Resources
Economic Calendar
Yes
Yes
Tools & Educational Resources (tutorials, webinars, market news, etc.)
Education Center, Investment Education Videos, Option Guide, Margin Guide, Webinars, Tax center, Blogs, Upcoming IPOs
TradingView TipRanks OptionsPlay Multileg options trading
Fees & Commissions
Trading-Related Fees
Commission for stocks, ETFs, Options, Mutual funds- $0, Fixed income- Treasury Bills, Notes & Bonds, Municipal Bonds, Agency Bonds, Secondary Market CDs, Zeros & Strips- Net yield basis, Primary Market CDs- $30, Broker-Assisted Stock & Options Trades- $19.95 (+$0.50/Contract)
Stocks 1C / share (min $4.95 to max $9.95) ETFs Buy Free. Sell 1C / share (min $4.95 to max $9.95) Mutual funds - $9.95 per trade International equities - 1% of trade value Precious metals - $19.95 / trade Notes & debentures - $0.10 per $1,000 par value FX & CFDs - pips as low as 0.08
Spread (typical, fixed, variable)
Typical
Fixed
Per Lot Fees
NA
$1 per contract for options
Options Contract Fees
$0
$9.95 + $1 / contract
Futures Contract Fees
NA
NA
Markup Fees on Spread
NA
NA
Guaranteed Stop Loss Fees
NA
NA
Maximum Leverage
No
NA
Non-Trading Fees
Dormant Fees
$0
$0
Subscription Fees (for premium features, data feeds)
NA
$0
Advisory Fees
0.20-0.30%
$0
Swap Fees (Overnight Financing)
NA
Yes
Statement or Document Fee
$2-$5
estatement - free Copy of statement - $20 Unclaimed property - $29.95 per quarter Regular mail - $10
Account Opening Fee
$0
$0
Account Maintenance Fee
$0
Portfolio fees 0.25% with a balance of $1000 - $99,999 0.20% with a balance of $100,000+
Deposit Fee
$0
CAD EFT upto $50,000 - free USD EFT upto $25,000 - free CAD Wire transfer - $20 USD wire transfer - $30 International wire transfer - $40
Currency Conversion Fee
3%
1.50%
Withdrawal Fee
$25-$75
EFTs - Free Wire transfer - $20 CAD for CAD wire $30 USD for USD wire $40 USD/CAD for international wires
Bonuses, Promotions & Benefits
Bonuses, Promotions, and Referrals
Yes
Yes
Customer Benefits (e.g., Retirement Plan)
Yes
No
Trading Hours
Trading Hours (for each asset class if applicable)
Pre-Market: 8:00 AM to 9:30 AM ET Regular Market: 9:30 AM to 4:00 PM ET After-Hours: 4:05 PM to 8:00 PM ET
North Americal Stock Markets 9:30am to 4pm ET Pre-market hours - 7am to 9:30am Post-market hours - 4pm to 8pm
Customer Support
Support Hours (e.g., 24/7, weekdays only)
Monday - Friday,10am - 4pm ET
24x5
Customer Support Methods (phone, email, live chat)
Phone: U.S. Toll Free: 1-800-869-8800, Outside the US: 1-718-961-6600, E-mail, FAQ, Fax: 1-718-961-3919
Toll-free Canada - 1.866.980.9590 From US - 1.416.227.6911FX & CFDs Chat hours: Monday - Thursday 8:3-am to 8pm EST, Friday 8:30am to 5:30pm EST Ph: 416.227.6913 Toll-free Canada - 1.866.980.9591
Support Languages
3
2
Additional Information
Headquarters Location
30-50 Whitestone Expwy. Ste. A301 Flushing, NY 11354
Toronto, Ontario Canada
Complaints (for crypto brokers)
No
No
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