+ Up to $5,000 Cash Back
Qtrade Direct Investing has quietly become one of the more interesting stories in Canadian online brokerages this year.
In October 2025, the Vancouver-based firm dropped its long-standing per-trade commission, moving to $0 trading on stocks, ETFs, and mutual funds — a shift that put it in direct competition with Questrade and Wealthsimple on price, while keeping the research tools and service reputation that have made it a perennial favourite with Canadian reviewers. Right now, Qtrade is also running a cash-back promotion for new accounts, so this felt like a good time to take a proper look at what it actually offers.
Who is Qtrade, anyway?
Qtrade Direct Investing is the self-directed trading platform operated by Aviso Wealth, a major Canadian wealth management company formed through the merger of Credential Financial, Qtrade Financial Group, and NEI Investments. It’s been around in some form since 2000, based in Vancouver, and is regulated by the Canadian Investment Regulatory Organization (CIRO) with client accounts protected by the Canadian Investor Protection Fund (CIPF) — the same regulatory backbone as the big bank brokerages.
One thing worth flagging up front: Qtrade is Canada-only. If you’re a US resident, this isn’t going to be an option for you — you’ll need a US-based broker instead. For Canadians, though, it’s consistently ranked among the top online platforms in the country, and has picked up “best online brokerage” nods from outlets like The Globe and Mail and Motley Fool Canada multiple years running.
What changed in October 2025
The headline news is the pricing overhaul. Qtrade used to charge $8.75 per trade (with a discounted rate for frequent traders and students). As of October 2025, that’s gone — stock, ETF, and mutual fund trades are commission-free. Options trading is also commission-free now, though the small per-contract fee still applies. For a platform that used to lean on “we’re not the cheapest, but we’re the most complete,” this is a real repositioning, and it puts Qtrade in the same price bracket as Questrade and Wealthsimple Trade for the first time.
The trade-off, if there is one, is that Qtrade was never built to be the bare-bones discount option. It still carries the research tools, Morningstar analyst access, and account types that made it a favourite of buy-and-hold investors — so you’re now getting that experience at the same price point as the stripped-down alternatives.
Current promotion: cash back on new accounts
Right now Qtrade is running a tiered cash-back offer for new clients. Here’s how the tiers break down:
| Amount Funded | Cash Back Bonus |
|---|---|
| $1,000 – $10,000 | 5% of net new deposits |
| $10,000.01 – $25,000 | $550 |
| $25,000.01 – $50,000 | $600 |
| $50,000.01 – $100,000 | $700 |
| $100,000.01 – $250,000 | $1,000 |
| $250,000.01 – $500,000 | $2,500 |
| $500,000.01+ | $5,000 |
To qualify, new clients need to open an account with promo code OFFER2026, and the current deadlines are: open your account by January 5, 2027, and fund it by February 5, 2027. There’s also a holding period — funds need to stay in the account until February 5, 2028, with the bonus paid out around a month after that. If you fund within 30 days, there’s an additional $100 bonus on top. Full terms are on Qtrade’s site, and as with any cash-back offer, it’s worth reading the fine print on the holding period before committing, since withdrawing early reduces or eliminates the bonus.
You can see the current offer and terms here: Qtrade Cash Back Offer.
What you get with the platform
- $0 commissions on stocks, ETFs, and mutual funds (as of October 2025)
- Account types: cash, margin, TFSA, RRSP, RRIF, RESP, and more — both registered and non-registered
- Trade in CAD or USD without needing to journal between accounts
- Research and tools: Morningstar analyst research, a Portfolio Score tool, screeners, real-time quotes, and a Retirement Calculator
- Robo-advisor option: Qtrade Guided Portfolios, for anyone who wants a managed portfolio rather than a self-directed one
- Transfer incentive: Qtrade will reimburse transfer-out fees from your old broker, up to $150, if you’re moving an existing account over
- No minimum deposit to open an account
Where it falls short
- No support for cryptocurrency, forex, CFDs, futures, or precious metals — Qtrade sticks to stocks, ETFs, mutual funds, bonds, and options
- Trading is limited to Canadian and US markets — no direct access to international exchanges
- Currency conversion fees still apply when moving between CAD and USD, same as most Canadian brokers
- If you’re a high-frequency active trader focused mainly on US stocks, Questrade’s fee structure may still edge it out
Who this actually makes sense for
If you’re a Canadian buy-and-hold investor — someone building an RRSP or TFSA around index ETFs, or slowly adding to a dividend portfolio — the combination of zero commissions and Qtrade’s research tools is a genuinely strong package right now, not just a promotional gimmick. The cash-back tiers scale well if you’re consolidating accounts from another institution rather than starting from scratch, since the bonus is based on net new deposits.
If you’re an active trader who wants crypto, options-heavy strategies, or international market access, it’s worth comparing against other platforms before committing — Qtrade isn’t trying to be everything to everyone, and it says so implicitly by staying out of those markets.
For most Canadians looking for a well-regulated, full-service brokerage without the commission drag, though, this is about as good a moment to open an account as Qtrade has offered in a while.
See the current Qtrade cash-back offer →
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