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Transaction Fees
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Exchange
Although there are no commissions for US and Canadian listed stock and ETF online trades, it is possible (depending on your order type) that you may be charged an Electronic Communication Network (ECN) fee. ECNs are intermediaries that connect brokers to the market. ECN fees don't apply to every trade, but when they do they will be added to the cost of your trade. ECNs typically charge fees whenever an order removes liquidity from the market, meaning it's likely to be filled immediately.
ECN fees apply to a very small subset of trades
Orders for Canadian securities: No ECN fees
Orders for US securities: No ECN fees except in the following cases
- Direct routed orders* to one of the following US exchanges or marketplaces which ADD liquidity:
- EDGA ($0.004/share)
- IEX (0.0012/share)
- Direct routed orders* to one of the following US exchanges or marketplaces which REMOVE liquidity:
- NASDAQ ($0.003/share)
- BATS, ARCA, NYSE, EDGX ($0.004/share)
- IEX (0.0012/share)
- Orders for any US OTC security ($0.000005/share)
*Direct routed orders are orders where you choose the execution venue (or route) rather than allowing it to be smart routed. This can only be done by modifying the “route” area of one of the Questrade Edge platforms.
SEC Fee
The U.S. Securities and Exchange Commission (SEC) collects a fee for all sales of U.S. securities. This fee will only be charged if you sell an American security listed on an American exchange.
The fee is calculated at 0.0000278 x the value of the trade.
E.g. Selling 100 shares of a U.S. stock at $25 (100 x $25 = $2,500) will incur an SEC fee of $0.07 USD (0.0000278 x $2,500).
ADR Fee
Agent banks usually charge investors a custody fee for holding American Depositary Receipts (ADRs). The custody fee may include the Annual fee, issuance fee and cancellation fee. The amount and timing of custody fees are detailed in your ADR prospectus. For an annual custody fee, as per the U.S. Securities and Exchange Commission (SEC), the Depository Trust Company collects the custody fees on ADRs that do not pay periodic dividends. If you hold an ADR that does not pay a dividend, the annual custody fee will be deducted from your account and posted on your monthly statement.
Warrants & Rights
When you purchase warrants and rights, the exchange charges you a fee to remove liquidity.
| Adding liquidity | free |
|---|---|
| Removing liquidity | All exchanges except CSE 0.025% of the value per fill* (min $0.50, max $50.00) |
| CSE securities greater than or equal to $1.00 | $0.0035/unit |
It is possible to have multiple fills per order and be charged the minimum fee multiple times for the same order.
Notes & Debentures
When purchasing notes and debentures, there is a fee per par value for each side of the transaction.
- Notes and debentures fee: $0.10 per $1,000 par value per side
- Notes and debentures on the CSE have a minimum $1.00 per side
- Regular commission fees also apply
Non-DTC Eligible Securities
The DTC (Depository Trust Company) is one of the world’s largest securities depositories. It provides safekeeping through electronic record keeping of securities balances. It also acts as a clearinghouse to process and settle trades in corporate and municipal securities. A non-DTC eligible security are securities which, due to restrictions imposed by the Depository Trust Company, cannot be deposited electronically.
Settlement of non-DTC (Depository Trust Company) eligible securities $450.00
Special Request
Following is a list of fees that we will only charge if or when you do a specific action. If you don't have any of these requests, you won't be charged.
| Private placement request 1 | $175.00/trade |
|---|---|
| Research request (minimum one hour) | $75.00/hr |
| Unclaimed property | $29.95/quarter |
| Precious metals withdrawal fee 2 | $75.00 |
| Precious metals gold storage fee (pooled) | 0.60% of market value |
| Precious metals silver storage fee (pooled) | 0.90% of market value |
| Precious metals storage fee (separated) | 1.50% of market value |
| Private investment transactions 3 | $75.00 each |
| Private investment quarterly physical holding fee 4,5,6 | $24.95 |
| Private investment quarterly physical holding fee-additional accounts 4,5,6 | $12.50 |
| Private investment one-time product onboarding fee (issuer only) 7 | $250.00 |
| Canadian controlled private corporations (CCPC) fee 8 | $250.00 + $100.00/year |
Commissions
Trade commissions are charged by a broker when you buy or sell certain investments. All commissions are charged in the currency of the transaction unless otherwise stated.
| Stock Trade - Buy | FREE |
|---|---|
| Stock Trade - Sell | FREE |
| ETF Trade - Buy | FREE |
| ETF Trade - Sell | FREE |
| Options Trade - Buy | $0 + 99¢ /contract |
| Options Trade - Sell | $0 + 99¢ /contract |
| International Equities - Buy | 1% of the value of the trade, charged in Canadian dollars (min. $195.00) |
| International Equities - Sell | 1% of the value of the trade, charged in Canadian dollars (min. $195.00) |
| IPOs & New Issues - Buy | free Min. $5,000.00 purchase |
| Dividend reinvestment plan | FREE |
| Options Exercise | $24.95 |
| Options Assignment | Free |
| Mutual Fund Trade - Buy | $9.95/trade |
| Mutual Fund Trade - Sell | $9.95/trade |
| Currency Conversion (USD/CAD) 9 | 1.5% |
| Bonds - Buy 10 | Min. $5,000.00 purchase |
| GICs - Buy 10 | Min. $5,000.00 purchase |
| Precious Metals - Buy | $19.95/trade USD |
| Precious Metals - Sell | $19.95/trade USD |
| Trades executed via the trade desk | $45.00/trade in addition to the regular commission (if applicable as set out above) charged for the product or transaction. |
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Get answers to frequently asked questions
1 As of March 1st, 2017. All private placement requests are subject to approval. The fee is charged upon Questrade's receipt of the request. If a request is rejected, the fee is non-refundable.
2 A shipping fee of USD $35 is charged for each 500oz or $100,000 of gold or silver, whichever is higher, withdrawn from pooled storage (your precious metals are stored together with other customers' metals). There is also an insurance fee of USD $6.50 charged on every $1,000 of gold and USD $6.50 on every $1,000 of silver. If your precious metals are stored separately from other customers' metals, please contact us for shipping and insurance fees.
3 Charged per purchase/redemption/Contribution-in-Kind of physical or electronic EMP at the time of transaction.
4 Waived with $15,000 CAD combined equity, per customer, in non EMPs.
5 Charged per account holding any EMP(s) on the 1st business day of: January, April, July, October.
6 As of June 1, 2018, accounts will be assessed a fee for the quarter in which they first acquire an EMP.
7 Invoiced to the dealer/issuer upon the first customer transaction in a new EMP fund.
8 The CPCC fee is charged when you move shares of a private Canadian corporation into your personal or corporate Questrade Inc brokerage account. No fee is charged to open a Questrade, Inc investing or trading account for your privately held corporation (corporate margin account).
9 Questrade currently charges a 1.5% currency conversion fee on Canadian to US dollar conversions (and vice versa). This fee was last updated November 18, 2023. The fee is included in the total foreign exchange rate that is applied to your conversion.
10 Questrade remuneration has been added to the price of this security (in the case of a purchase) or deducted from the price of this security (in the case of a sale). For GICs, it’s included in the rate provided.