Questrade Inc. RESP review

Supported grants and incentives

• Basic CESG: offered on the Canada.ca RESP promoters list.
• Additional CESG: offered on the Canada.ca RESP promoters list.
• Canada Learning Bond (CLB): offered on the Canada.ca RESP promoters list.
• B.C. Training and Education Savings Grant (BCTESG): marked N/A for Questrade Inc. on the Canada.ca RESP promoters list.
• Questrade's public RESP education materials discuss provincial incentives generally, but the reviewed official account and pricing pages did not clearly confirm QESI handling.

Account types

• RESP.
• Family RESP.
• Questrade says RESP accounts can be opened online.

Fees

• No account opening fee for RESP accounts according to Questrade's administrative-fees page.
• No annual RESP account fee is listed on Questrade's administrative-fees page.
• Online trades for Canadian- and U.S.-listed stocks and ETFs are listed as commission-free, though other fees can still apply.
• CAD options are priced at $0 plus 99 cents per contract; trades executed via the trade desk add a $45 fee plus any regular commission.
• Mutual fund buys and sells are $9.95 per trade.
• Currency conversion is listed at 1.5%, and Questrade notes RESP accounts do not accept USD deposits.
• $150 transfer-out fee and $150 partial transfer-out fee are listed on the administrative-fees page.
• Full and partial RESP deregistration are both listed as free.

Transfer process

• Questrade says account transfers are requested after logging in through Move money > Transfer and choosing Transfer an account to Questrade.
• Questrade says broker-to-broker transfers typically take 15 to 20 business days, though the outgoing institution can add delays.
• Questrade says RESP or LIRA transfers may require extra documents that are shown during the online request flow.
• Questrade says transfer-in requests are free from its side and it reimburses transfer fees charged by the outgoing institution, but not penalties.
• Questrade says some institutions only support cash-only or in-kind transfers.
• Questrade does not support partial RESP transfers in.

Withdrawal process

• Questrade's RESP withdrawal guide says capital withdrawals use a hand-signed RESP Capital Withdrawal form uploaded to the account.
• Questrade says a void cheque or direct deposit form for the subscriber's bank account must also be uploaded if one is not already on file.
• Questrade's guide says accumulated income payment (AIP) withdrawals use a separate Letter of Direction plus CRA form T1172 or T1171, depending on whether funds are withdrawn or transferred to an RRSP.
• For AIP requests, Questrade says the original signed CRA form must be mailed in after the upload step.
• Questrade's public withdrawal guide focuses on form-based servicing rather than instant online cash-out.

Neutral comparison notes

• Compared with bank-owned brokerages reviewed so far, Questrade's public pricing is simpler on annual account fees but more trade-cost dependent because costs vary by product and order type.
• Questrade publishes a clear self-directed product list, including stocks, ETFs, options, mutual funds, bonds, GICs, and precious metals.
• Families comparing transfer flexibility should note that Questrade reimburses standard transfer-out fees from another institution but does not support partial RESP transfers in.
• Canada.ca currently shows Questrade Inc. supports federal CESG and CLB programs, but unlike some peers on the list it is not marked as offering BCTESG.

Investment options noted on official pages

• Cash.
• Stocks.
• ETFs.
• Long options.
• Mutual funds.
• Bonds.
• Gold and silver.
• GICs.

Sources to use