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Head to head
Charles Schwab or Questrade? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.
Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.
The full-service US giant that also happens to own the best retail trading platform in the business.
Canada's biggest independent broker, now genuinely commission-free — with a 1.5% currency spread as the sting in the tail.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
Four decision axes, each derived from the recorded data.
Overall Charles Schwab takes it, 4.6 against 4.2 out of 5. On commissions there is little between them — €0.00 against €0.00 for a reference EUR 5,000 order. Charles Schwab scores 93 against 76 out of 100 on the group index. Your account's protection depends on its legal entity. Questrade covers more ground with 10 of 14 asset classes against 9. On platform and app Charles Schwab is ahead, 4.6 against 4.5 out of 5. Which one is right depends on which of these axes matters for your trading profile.
QuestradeQuestradeQuestradeQuestradeQuestradeUp to four brokers at once — every row a decision point.
Data as of: 30 Aug 2026
| Criterion | ||
|---|---|---|
| Overall score | 4.6 — Better | 4.2 |
| Group index | 93 of 100 | 76 of 100 |
| Best for | US long-term investorsOptions and futures tradersRetirement accountsInvestors who want branchesOne-account consolidation | Canadian self-directed investorsRegistered account investing (TFSA, RRSP, FHSA, RESP)US options tradersActive traders who want a free professional platformInvestors combining ETFs, bonds and mutual funds in one account |
| Regulation | SECFINRAFDIC | CIROOSC |
| Top-tier licences | 3 — Better | 2 |
| Investor protection | US$500,000 | CA$1,000,000 — Better |
| Listed group | Yes | No |
| Banking licence | Yes | No |
| Segregated client accounts | Yes | Yes |
| Negative balance protection | No | No |
| Audited financials | Yes | Yes |
| Disclosed regulatory actions | 1 | None |
| Founded | 1971 | 1999 |
| Headquarters | Westlake, US | Toronto, CA |
| Fees | 4.6 — Better | 4.4 |
| Safety & regulation | 4.9 — Better | 4.2 |
| Trading platform | 4.8 — Better | 4.4 |
| Product range | 4.2 — Better | 4.0 |
| Mobile app | 4.4 | 4.5 — Better |
| Research | 4.7 — Better | 3.9 |
| Customer support | 4.8 — Better | 3.6 |
| Deposit & withdrawal | 4.2 — Better | 3.9 |
| Account opening | 4.3 | 4.4 — Better |
| Education | 4.6 — Better | 3.8 |
| Reference order EUR 5,000 | €0.00 | €0.00 |
| Minimum deposit | None | None |
| Stocks (per order) | Free | Free |
| US stocks | Free | Free |
| ETFs | Free | Free |
| Options | US$0.65 | Free — Better |
| Futures | US$2.25 | Not offered |
| Crypto | Not offered | Not offered |
| Bonds (order) | US$1 — Better | CA$24.95 |
| Funds (order) | US$49.95 | CA$9.95 — Better |
| EUR/USD spread | n/a | 1.9 pips |
| Index CFD spread | n/a | n/a |
| FX conversion | 1 % — Better | 1.5 % |
| Inactivity fee | None | None |
| Custody fee | None | None |
| Withdrawal fee | US$15 | free — Better |
| Deposit fee | free | free |
| Overnight financing | n/a | n/a |
| Other fees |
|
|
| Asset classes (of 14) | 9 | 10 — Better |
| Exchanges | 12 | n/a |
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| Forex | Yes | Yes |
| CFDs | No | Yes |
| Crypto | No | No |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Commodities | Yes | Yes |
| Indices | Yes | Yes |
| Warrants | No | Yes |
| Spread betting | No | No |
| Social trading | No | No |
| Platforms | Schwab.com web platformthinkorswim Desktopthinkorswim WebSchwab Mobilethinkorswim MobileSchwab Trader API | Questrade web and appQuestrade ProQuestrade EdgeQuestrade mobileQuestrade MCP |
| Demo account | Yes | No |
| Fractional shares | Yes | Yes |
| Maximum leverage | 1:2 | 1:3 |
| Account opening | Under 10 minutes online for US residents; 1–2 weeks for a Schwab One International account | Fully online, typically minutes to open with no minimum balance; funding by electronic transfer takes 1–3 business days |
| Account types | Schwab One brokerageSchwab Global AccountTraditional / Roth / Rollover IRASchwab One International | TFSARRSPFHSARESPMarginCashFX & CFD |
| Payment methods | Bank transferCheque | Bank transferCheque |
| Account currencies | USD | CADUSD |
| Deposit time | Instant to 3 business days (ACH, wire, cheque) | Electronic funds transfer 1–3 business days; wire same or next business day |
| Withdrawal time | 1–3 business days by ACH; same day by wire | 1–3 business days by electronic funds transfer |
| Free withdrawals | n/a | n/a |
| Languages | EnglishSpanishChinese | EnglishFrench |
| Channels | PhoneEmailLive chatBranch | PhoneEmailLive chatBranch |
| Availability | 24/7 | Monday–Friday 07:30–20:00 ET, Saturday and Sunday 10:00–16:00 ET |
Editorial assessment based on the recorded data.
Charles Schwab
The full-service US giant that also happens to own the best retail trading platform in the business.
Pros
Cons
Best for
Questrade
Canada's biggest independent broker, now genuinely commission-free — with a 1.5% currency spread as the sting in the tail.
Pros
Cons
Best for
Open an account with either
A demo account costs nothing and answers the platform question in ten minutes.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
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