For Canadian investors looking to minimize their trading fees as much possible their search inevitably leads them to a Questrade vs Virtual Brokers comparison. Both of these Canadian discount brokerages seek to attract the same cost-conscious demographic and offer excellent overall value.
We appreciate that both Questrade (see our full Questrade Review) and Virtual Brokers offer paperless setup, have a wide variety of platforms available depending on your preferred complexity level of investing, offer rock bottom per-trade costs, and free ETF purchases.
That being said – there can only be one Champion! Read on to find out who took home the low-cost title.
Easy Questrade vs Virtual Brokers Comparison
Who Should Choose Virtual Brokers
You might want to try Virtual Brokers if you:
- Are interested in mutual funds. (Not something I recommend!)
- Actively trade more than 200x per month.
- Want to spend several hundred dollars per month on an elite trading platform.
- Don’t want to hold any USD stocks or ETFs (such as those traded on the New York Stock Exchange) in any TFSA, RRSP, or RESP accounts .
Who Should Choose Questrade
Questrade might be a better fit when it comes to the Questrade vs Virtual Brokers competition if you:
- Value having live chat feature that will get you help quickly and efficiently.
- Will be purchased any stocks or ETFs in USD (such as those trade on the New York Stock Exchange.
- Want an automatic $50 in free trades when you start up. (click here or use the code a1b9d1d9).
- Want to have an RESP plan for your child.
- Will make use of the extensive customer education tools.
- Want access to a robo advisor option (Portfolio IQ)
Why Questrade Wins our Virtual Brokers vs Questrade Debate
With these low-cost discount brokerage competitors offering many of the same perks such as no-fee ETFs (if the premium account is purchased), we believe that the considerable fee difference in USD account gives Questrade the decisive edge in the Questrade vs Virtual Brokers matchup. The $15 quarterly fee per USD account can add up in a hurry. (We also gave Questrade the edge in our Questrade vs Qtrade matchup.) When you combine that substantial difference with a lack of Norbert’s Gambit availability and our $50 in free trades Questrade promo offer code.