Benefits of a TFSA
Enjoy tax-free growth
Make withdrawals at any time
Contribution room carries forward
No annual account fees
When to open a TFSA
Anyone over the age of 18 (or the age of majority. In some provinces and territories, 19 is the eligible age to open a TFSA) can enjoy the benefits of a TFSA, whether you’re saving towards a goal in your near future, or looking to grow your wealth long-term without having to pay excess fees.
You have saving goals you want to withdraw for before retirement
You may want or need to easily and accessibly withdraw funds at any point
You are the sole owner of your account, and are not looking for a joint/spousal account
The difference between a TFSA and an RRSP
Your money is in good hands
With Questrade, you can rest assured that your money, your account and your personal information are protected.
We're regulated by CIRO and a CIPF member.
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Choose from two great ways to invest
Hand-pick the assets you’re most interested in with self-directed investing, or let experts handle the portfolio management for you with Questwealth Portfolios.
questwealth portfolios
I want experts to invest for me
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Account management fees starting at only 0.25%
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Get matched with a portfolio suited to you in 15 minutes or less
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You can invest in companies focused on social, environmental and governance qualities
Get answers to frequently asked questions
Yes, you can easily transfer your TFSA to Questrade. Just fill out a form and we’ll handle the rest – including covering the transfer-in fees you may be charged, up to $150 per account. Terms and conditions apply.
Yes, you can open a TFSA by logging into Questrade online, or on the QuestMobile app.
To open a TFSA, first navigate to the green “Open an account” button on Questrade.com. You will be asked to tell us a bit about yourself. You will then be prompted through the account set-up process, where you can choose to create a self-directed account, or a managed account through Questwealth Portfolios, and the account type you want to create. Here you can select “TFSA”. You will then be asked to create a personal profile, and to answer some basic financial questions. Next, you will be asked to submit your financial documents. Finally, fund your account to start investing. Learn more about opening an account.
Contribute a minimum of $250 to get set up with a self-invested TFSA. For a Questwealth Portfolios account, you need to contribute $250 for our financial advisors to start investing for you.
We’re here to help you get started
Our account specialists are available to assist with any account-related questions you may have, and to help you get set up.
Reach us by phone
Toll-free Within Canada
1.888.298.4515From the U.S.
1.416.227.6615International
(001) 416.227.6615Phone hours
Monday-Friday, 8:30 AM to 8 PM ET
Saturday-Sunday, 9:00 AM to 5 PM ET
Email us
Send us an emailLearn more about TFSAs
TFSA or RRSP: what’s the right way for you to save?
Understand the different benefits of TFSAs and RRSPs.
Read article
Transfer into a TFSA
Gain a better understanding of how cash and investment transfers into your TFSA affect your contribution room.
Read article1 To open a Questrade RRSP, you must be the age of majority in the province where you reside. You only earn contribution room once you have received income and filed a tax return. After you turn 71, your RRSP is converted into a Registered Retirement Income Fund (RRIF).
2 US taxes may apply.
3 There are two ways to withdraw from your RRSP without being taxed: The Home Buyers’ Plan (used for a qualifying home down payment) and the The Lifelong Learning Plan (used for education at qualifying institutions). Both of these are tax-free and interest-free, but the amount you borrow from your RRSP with them must be paid back within a set period of time.
4 'Zero commission trades', '$0 commissions', '$0 trading', 'trade commission-free' and similar messages, refer to commission-free trading for trades placed online through Questrade, Inc.'s website or mobile apps for stocks and ETFs that are listed on a stock exchange in the United States or Canada. Other fees may still apply.
5 For options trades placed online through Questrade, Inc.'s website or mobile apps the base commission has been reduced to 0.99¢ per contract. The per contract rate for online options trading is further reduced to 0.75¢ if subscribed to an active trader plan.