My Review of the Qtrade Platform (April 2025)

Why trust Hellosafe?

HelloSafe is a financial product expert that advises over a million users every month. Our specialists have tested the services of over 100 brokers worldwide by opening accounts and conducting real transactions. Discover our comprehensive analysis of this platform.

Warning!

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

Qtrade is a Canadian investment platform primarily geared towards individuals wishing 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 out of 35 reviews), which reflects a marked dissatisfaction with the overall user experience.

I’ve spent the last 6 months signing up for, testing, and deeply analysing Qtrade, and I’ve looked to compare the platform to other popular regulated online brokers in the United Kingdom and North America.

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

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

What to think of Qtrade?

My general opinion of 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 shares, 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 dividend or growth-oriented portfolio.

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

The fees are fixed and announced in advance: CAD 8.75 per order, which remains reasonable for occasional investors but uncompetitive if you place several orders per week. No hidden spreads, but a quarterly custody fee of CAD 25 applies if your balance is less than CAD 25,000, which clearly penalises small investors. Also note the absence of inactivity fees for RRSP or TFSA accounts.

In terms of security, the framework is reassuring: Qtrade is regulated by the FCA in the United Kingdom and client funds are covered by the Financial Services Compensation Scheme (FSCS) up to £85,000. But despite these guarantees, the very low Trustpilot score (1.9/5 out of 35 reviews) reflects widespread frustration related to customer service and frequent connection bugs.

Which types of traders is Qtrade suitable for?

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

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

=> For occasional UK 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-efficient manner.

On the other hand, Qtrade is very unsuitable 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 seconds is:

My opinion on the security and reliability of the broker Qtrade

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

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

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

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

The most active investors can access reduced pricing (£6.95 per order versus £8.75 standard), but this requires maintaining at least 150 transactions per quarter, a high threshold for most users. Also note: there are no inactivity fees, but there are 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 noted 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 add up if you do not hold at least £25,000 in your account or if you do not have an ISA, SIPP or other registered vehicle.

Qtrade doesn’t impose a 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've tested, which can be a real drawback if you want to diversify internationally.

Trader Tip

To avoid high currency exchange fees, consider using a service to convert your funds to the desired currency at a lower cost. And to avoid custody fees, it is often enough to hold an active pension plan or exceed £25,000 invested. Also, consider grouping your transactions to reduce the unit cost of commissions.

What are the fees on stocks and ETFs?

With Qtrade, you invest directly in shares and ETFs, which means no spread or leverage like with CFD brokers. Fixed commissions are in the Canadian average, but can quickly accumulate 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 investing in cryptocurrencies, whether spot or in the form of derivatives. If you want to integrate cryptos into your portfolio, I recommend using a specialised 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 specialising in CFD trading with leverage, I would 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 core of the platform is based on Canadian and US equities, ETFs and bonds. There are also commission-free ETFs to buy, 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 much geared towards long-term investment. The platform is stable, intuitive, and highlights effective research tools for comparing funds and stocks. On the other hand, there is no advanced platform or real-time trading functionality. It is clearly more of a portfolio management tool 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 find commission-free ETFs to buy and optimise 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 positive points, the simplicity of the platform for conventional investments (stocks and ETFs) and the clarity of the analysis tools are regularly mentioned. Some also appreciate the Canadian base of the company, with good access to local markets.

On the other hand, negative reviews are very frequent and converge on several points: an interface that is sometimes outdated, high fees on certain transactions (especially withdrawals or account closures), a 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. (8 January 2024) "The platform is okay, but as soon as you need assistance, it's radio silence. Customer service is not up to scratch."

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

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

Account Opening

Opening an account with Qtrade is done entirely online, but the process is a bit longer and more rigid than with other brokers. I was able to create my profile in about thirty minutes, but full validation took 48 hours for all 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:

• Visit the Qtrade website and click on “Open an Account”
• Fill out the form with your personal information, tax status, and investment goals
• Select the account type (individual account, ISA, SIPP, joint account, etc.)
• Provide a valid form of identification and proof of address less than 3 months old
• Electronically sign the regulatory forms
• Wait for the confirmation email once the file has been validated

Good to know

Qtrade offers several types of tax-advantaged accounts for UK residents (e.g., ISAs, SIPPs), but it's important to understand the specific conditions. Support is available by telephone to assist you with the application process if needed.

Qtrade Deposits and Withdrawals

The deposit and withdrawal system at Qtrade is functional but limited: only bank transactions are allowed, which can lengthen 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 client area before confirming a transaction.

Trader Tip

Consider linking 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, longer-term investors looking to manage their portfolio within a stocks and shares ISA, a SIPP, or a LISA. 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 UK 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 the United Kingdom.

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.