Questrade vs Robinhood

Questrade vs Robinhood Comparison Table 2023
Questrade	Robinhood
Review 3	Review 0.9 Robinhood is #37 in our broker rankings. We do not recommend trading with Robinhood. Their business practices have harmed traders and their "free" trading offer has been criticized for actually costing their traders millions of dollars.
Traders from US not accepted See available CFD brokers	Traders from US accepted
Questrade is an award-winning Canadian investment platform offering self-directed and pre-built portfolios. Investors can access a suite of tax-free savings accounts, retirement plans, income funds and more. Regulated by CIRO, Questrade is an established broker, trusted by new and experienced investors.	Robinhood is an American stock broker and financial services firm based in California. The broker offers commission-free stocks, cryptos and ETFs, plus other products such as cash cards and retirement accounts. Despite its robust US regulation, Robinhood has been involved in numerous scandals and security breaches since 2020. We urge investors to exercise caution.
Bonus Offer
5 commission-free trades
Comment by Reviewer
"Questrade is a top pick for Canadian clients with both long-term and short-term investment goals. The firm boasts competitive fees and a range of tax-efficient savings accounts."	"Robinhood is aimed at traders looking for stocks and crypto investing opportunities with additional perks. However, the brokerage's recent business practices mean the brand isn't a good option if you want a reliable and trustworthy broker."
Pros
Transparent pricing structure with stocks starting from 1 cent per share and portfolio management fees from 0.25% An impressive range of 17 accounts, suitable for both long-term investment goals, as well as short-term saving Easy account opening with no set-up fees and a choice of flexible portfolio types, depending on risk appetite Dual currency self-directed accounts in CAD and USD for convenient and fee-free investing across US and Canadian exchanges Excellent mobile trading app for active equity or options traders, with advanced charting and order types, plus a strategy builder tool Comprehensive learning centre with goal-tracking advice, platform tutorials and investment webinars Trusted firm with oversight from the CIRO	Crypto trading available with no commission fees and a low minimum deposit of $1 Intuitive mobile trading app with 24/7 live support and in-app stock market news Robinhood's 'Snacks' newsletter offers bite-sized financial news updates suitable for beginners Interesting podcast hosted by the CEO and co-founder, covering topics such as blockchain and financial empowerment Robinhood Cash Card offers weekly bonuses invested into stocks and crypto, as well as cashback on popular brands Receive NFTs on the Polygon and Ethereum network and connect to decentralized applications via your Robinhood wallet
Cons
$1000 minimum deposit is high for beginners No fractional shares for lower entry requirements Canadian citizens accepted only No youth investment accounts	Not available outside the US Limited research and education tools compared to other brands Previous lawsuits and negative press surrounding the firm's controversial business practices Despite the actual app showing quote data in real-time, data may be delayed by up to 20 minutes Robinhood does not support advanced order types or options trades, while limit orders are collared up to 5% The broker falls short in terms of in-depth analysis and research tools, which may deter novice traders Concerning history of security breaches
Awards
#1 Investor Satisfaction 2020 - J.D. Power's Self Directed Investor Satisfaction Study Seal of Service Excellence 2019 - DALBAR
Instruments
Forex, CFDs, indices, shares, precious metals, mutual bonds, options, warrants, GICs, ETFs	Stocks, Options, Crypto, ETFs
Demo Account
Yes	No
Minimum Deposit
$1000	$0
Trading Platforms
Own	Own
Payment Methods
Visa	ACH Transfer Apple Pay Automated Customer Account Transfer Service Credit Card Debit Card Google Wallet
Minimum Trade
0.01 Lots	$10
Regulator
CIRO	SEC
Margin Trading
No	No
Margin Rate
	2.5%
STP Account
No	No
ECN Account
No	No
DMA Account
No	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
No	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
No	No
Mobile Apps
Yes	iOS, Android and Windows
Copy Trading
No	No
Social Trading
No	No
Trade Signals
Yes
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Islamic Account
No	No
Stock Exchanges
Toronto Stock Exchange
Commodities
Gold Silver
CFD Trading
Trade a good range of CFDs on commodities, indices and more. Questrade offers advanced mobile and web trading platforms with top research features including Morningstar and Trading Central.	CFD trading not offered
Leverage
1:3.33	1:2
FTSE Spread
N/A	N/A
GBPUSD Spread
2	N/A
Oil Spread
0.05
Stocks Spread
1 cent per share	0.3% Var
Forex Trading
Access over 110 FX pairs with spreads from 0.8 pips and no inactivity fees. Seasoned traders can also unlock advanced market data packages with fee rebates and competitive pricing.	Forex trading not offered
GBPUSD Spread
2
EURUSD Spread
1.9
EURGBP Spread
2.1
Assets
110+
Cryptocurrency
Crypto trading not offered	Access 18 crypto assets through the Robinhood app with no commission fees, including access to Bitcoin. On the negative side, the selection is not as wide as other brands and security is weak.
Spread
	0%
Coins
	BTC ETH BCH LTC SOL DOGE BTG OMG XMR QTUM DASH XRP XLM ZEC NEO LSK
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

Review	Review
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