Precious Metals at Questrade
Published: Oct 17, 2022
Updated: Jan 27, 2026
Learn about how to invest in precious metals like gold or silver with any of your Questrade accounts.
Questrade allows you to buy and sell physical precious metals (like gold and silver) in all accounts, even registered accounts like a TFSA or RRSP.
Precious metals are used by many investors to diversify their portfolios, and can potentially be a useful asset class during times of high volatility.
Even though commodity-based ETFs are available that track the price of gold or silver, some investors may prefer to own the actual physical metals themselves. This grants direct ownership, and may provide an additional level of protection against external market forces or geopolitical issues.
Questrade is one of the only Canadian brokerages where you’re able to buy and hold physical precious metals in every type of self-directed account - including registered accounts like an RRSP, TFSA, RIF, RESP, or etc. You can buy or sell metals anytime the market is open with a quick call to our trade desk. For more details, please check out the sections below.
Investing in precious metals also comes with some benefits over other traditional asset classes like stocks or bonds, namely:
Can potentially be a hedge against inflation
Intrinsic value
No central bank credit risk
High liquidity
Historically low or negative correlation to stocks and bonds
Investors who purchase physical precious metals in their accounts may use storage options provided by the Royal Canadian Mint (opens in a new tab), IDS Canada (opens in a new tab), or Brinks (opens in a new tab). Depending on the specific type of metal and quantity, different storage options may be available.
Depending on the type of account you use to purchase your precious metals, they can also usually be withdrawn and shipped to your residence. Check out the sections below for more information on storage or delivery options and fees.
Buying and selling precious metals
You can buy precious metals like gold and silver by calling our Trade Desk directly at 1.866.980.9590 between 8 AM and 3:00 PM EST.
If calling from the U.S. or internationally, please dial +1.416.227.6911
If you’ve been referred by a precious metals dealer, please contact your dealer directly to make purchases.
Physical precious metals cannot be purchased or sold at this time through our online platforms.
Important note: After purchasing precious metals with your Questrade account, prices are updated overnight and reflect the value of the previous day’s closing price.
To get a real-time bid and ask price to buy or sell the metals in your account, please contact the Trade Desk or your dealer directly.
Commissions
The commission for precious metals is $19.95 USD per order. (No matter the quantity)
Separate commissions may be charged for different metal types and kinds (i.e., buying gold coins vs bars or silver).
The Trade Desk will be able to confirm your final commissions when you’re placing your trades.
If you’ve been referred by a precious metals dealer, please contact your dealer directly to make purchases (or sales).
Please note that all precious metals are priced in U.S. Dollars. If you need to convert currencies before or after a trade, please check out our exchanging funds article for more details.
Note: RESP accounts incur an additional $5.00 commission on your first precious metals trade each day due to the trade being conducted in USD. This is a flat, per-day commission, no matter how many trades are made in the RESP account that day.
Secure storage options and fees
Pooled or segregated storage?
Depending on your specific needs, either storage option may be a good fit for your account. Check out the differences below:
Pooled storage
The precious metals are stored at the Royal Canadian Mint (opens in a new tab) or Brinks (opens in a new tab) and all of Questrade customers’ precious metals are stored together.
Pooled storage providers have no reference to the individual Questrade customer name or account number as the precious metals are pooled and stored in Questrade’s name (in-trust for our customers).
Segregated storage
The precious metals are stored at either IDS Canada (opens in a new tab) or Brinks (opens in a new tab) and every customer’s metals are held and reported on separately.
The storage facility is advised of the individual Questrade customer name and account number to which the precious metals belong.
Storage fees
Depending on the specific metals you’re interested in purchasing, different storage options may be available.
The Trade Desk will be able to confirm which storage options are available depending on the type of metal and type of asset (bars, coin, or leaf).\
Pooled storage
A fee of 0.6% of the market value for gold, and 0.9% of the market value for silver will apply.
This is a yearly prorated amount, charged monthly to the same account the metals are held in.
This storage fee is charged in Canadian dollars, and GST/HST or QST may apply.
For example: A customer with $50,000 worth of gold in their RRSP will be charged $300 yearly, or $25 CAD per month. This storage fee will be charged to the same RRSP the gold is held in, so please keep enough cash available each month for the storage fee.
Segregated storage
A fee of 1.5% of the market value will apply (for both gold and silver).
This is a yearly prorated amount, charged to the same account the metals are held in every month.
This storage fee is charged in U.S. dollars, and GST/HST or QST may apply.
For example: A customer with $50,000 worth of gold in their TFSA will be charged $750 yearly, or ~$62.50 USD per month. This storage fee will be charged to the same TFSA the gold is held in, so please keep enough cash available each month in USD for the storage fee.
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Check out the sections below for more information on withdrawing or shipping your precious metals, and frequently asked questions.
Withdrawing and shipping precious metals
If you’re interested in withdrawing the precious metals from your Questrade accounts, please keep the following in mind:
Withdrawals of metals from registered accounts is considered a “de-registration”, and is treated the same way as a cash withdrawal by the CRA.\
Deregistration fees and withholding taxes may apply. You can learn more in our Withdrawals overview article.
You cannot make withdrawals from certain types of locked-in accounts under normal circumstances (i.e., LIRA, L-RSP).
There is no way to withdraw metals, and keep them registered in an RRSP or TFSA for example.
You are responsible for storage fees until the withdrawal date.
Shipping and insurance fees
Note: For customers withdrawing precious metals, a service fee of USD $75.00 will be charged to process the withdrawal.
Shipping
For pooled storage with the Royal Canadian Mint:
The shipping fee is $35 USD per 500oz or $35 USD per $100,000 in market value of the metal (whichever is higher).
For pooled storage with Brinks, or segregated storage, please contact the Trade Desk for a shipping quote.
Shipping can typically take up to 2 weeks, and varies depending on the storage location of the metals, and the location of the customer.
Please note: At this time, we can only ship your precious metals to the official address on file with Questrade.
Insurance
When shipping precious metals, insurance is mandatory.
For pooled storage with the Royal Canadian Mint:
$6.50 USD per $1000 of gold value
$6.50 USD per $1000 of silver value
For pooled storage with Brinks, or segregated storage, please contact us for an insurance quote.
Example: Fred is withdrawing $10,000 USD worth of gold from his TFSA account, and it’s currently held in pooled storage. Fred will pay $35 for shipping, and $65 for insurance. With the service fee included, Fred’s total cost is $175 USD.
Pick-up
Instead of shipping your metals, you may also have the option to pick them up. This will depend on the specific type of metal, and where it’s stored. The storage provider may also charge a nominal fee to process the pick-up.
For example: IDS and Brinks may have different pickup procedures, locations, and fees.
Pick-ups need to be scheduled through Questrade’s Trade Desk at 1.866.980.9590, and will take at least 2 business days to arrange.
Government-issued Photo ID, vehicle information, and other details may be required to schedule a pickup.
