Head to head
Fio banka vs Qtrade Direct Investing — which broker is better?
Fio banka or Qtrade Direct Investing? 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.
Fio banka
A privately owned Czech bank with Prague, US and XETRA access and a DIP account — but currency conversion at its own rates with no published margin.
- Stocks (per order)
- 0.35 %
- Minimum deposit
- None
- 5,000 order
- €17.50
Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest.
Qtrade Direct Investing
Canada's best-researched discount broker — now commission-free, still let down by its mobile app.
- Stocks (per order)
- Free
- Minimum deposit
- None
- 5,000 order
- €0
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
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.
The verdict in numbers
Four decision axes, each derived from the recorded data.
Overall Qtrade Direct Investing takes it, 4.1 against 3.6 out of 5. Qtrade Direct Investing is the cheaper of the two: a reference EUR 5,000 stock order costs €0.00 there against €17.50. Qtrade Direct Investing scores 76 against 59 out of 100 on the group index. Your account's protection depends on its legal entity. Qtrade Direct Investing covers more ground with 6 of 14 asset classes against 5. On platform and app Qtrade Direct Investing is ahead, 3.8 against 3.5 out of 5. Which one is right depends on which of these axes matters for your trading profile.
- Fio banka
- 3.6
- Qtrade Direct Investing
- 4.1 — Better
- Fio banka
- €17.50
- Qtrade Direct Investing
- €0.00 — Better
- Fio banka
- 59 of 100
- Qtrade Direct Investing
- 76 of 100
- Fio banka
- 5/14
- Qtrade Direct Investing
- 6/14 — Better
- Fio banka
- 3.5
- Qtrade Direct Investing
- 3.8 — Better
Compare brokers side by side
Up to four brokers at once — every row a decision point.
Data as of: 02 Nov 2026
| Criterion | Fio banka 3.6 Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest. | Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. |
|---|---|---|
| Overall score | 3.6 | 4.1 — Better |
| Group index | 59 of 100 | 76 of 100 |
| Best for | Czech and Slovak residentsDIP retirement saversXETRA ETF investorsPrague Stock Exchange investorsInvestors who want a branch | Research-driven stock and ETF investorsMutual fund investorsRegistered account investing (TFSA, RRSP, FHSA, RESP)Investors who value customer service over app polishFixed-income and GIC buyers |
| Regulation | CNB | CIROBCSC |
| Top-tier licences | 0 | 2 — Better |
| Investor protection | €100,000 | CA$1,000,000 — Better |
| Listed group | No | No |
| Banking licence | Yes | No |
| Segregated client accounts | Yes | Yes |
| Negative balance protection | No | No |
| Audited financials | Yes | Yes |
| Disclosed regulatory actions | None | None |
| Founded | 1993 | 2000 |
| Headquarters | Prague, CZ | Vancouver, CA |
| Fees | 3.2 | 4.3 — Better |
| Safety & regulation | 4.0 | 4.3 — Better |
| Trading platform | 3.5 | 4.1 — Better |
| Product range | 3.3 | 3.6 — Better |
| Mobile app | 3.5 | 3.5 |
| Research | 3.4 | 4.5 — Better |
| Customer support | 3.8 | 4.3 — Better |
| Deposit & withdrawal | 3.5 | 3.6 — Better |
| Account opening | 3.9 | 4.2 — Better |
| Education | 3.8 | 3.9 — Better |
| Reference order EUR 5,000 | €17.50 | €0.00 — Better |
| Minimum deposit | None | None |
| Stocks (per order) | 0.35 % | Free |
| US stocks | tiered | Free |
| ETFs | tiered | Free |
| Options | Not offered | CA$0.75 |
| Futures | Not offered | Not offered |
| Crypto | n/a | Not offered |
| Bonds (order) | 0.1 % | 0.1 % |
| Funds (order) | Free | Free |
| EUR/USD spread | n/a | n/a |
| Index CFD spread | n/a | n/a |
| FX conversion | n/a | n/a |
| Inactivity fee | None | None |
| Custody fee | None | None |
| Withdrawal fee | n/a | free |
| Deposit fee | n/a | free |
| Overnight financing | n/a | n/a |
| Other fees |
|
|
| Asset classes (of 14) | 5 | 6 — Better |
| Exchanges | n/a | n/a |
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | No | Yes |
| Futures | No | No |
| Forex | No | No |
| CFDs | No | No |
| Crypto | No | No |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Commodities | No | No |
| Indices | No | No |
| Warrants | Yes | Yes |
| Spread betting | No | No |
| Social trading | No | No |
| Crypto access | no crypto | no crypto |
| Platforms | e-BrokerFio Smartbroker | Qtrade web platformPortfolio AnalyticsQtrade mobile app30-day trial account |
| Demo account | Yes | Yes |
| Fractional shares | No | No |
| Maximum leverage | No CFDs and no spot forex. Leverage comes from loans for trading (úvěr na obchodování) at a base rate of 8.50% a year in CZK, EUR and USD, with discounts that… | 1:3 |
| Account opening | Online for existing Fio clients, who add a trading account in Internetbanking or Smartbanking; new clients first open a free current account online (express with Bank iD) or at a branch with an ID card or passport, then complete the investment questionnaire | Paperless online application with electronic funding; a 30-day trial account is available first without opening a real account |
| Account types | Obchodní účet (trading account)Dlouhodobý investiční produkt (DIP)Osobní makléř (personal broker) | TFSARRSP / Spousal RRSPFHSARESPRRIF / LIF / LIRACash and marginInvestor Plus |
| Payment methods | Bank transfer | Bank transfer |
| Account currencies | CZKEURUSDGBPPLNHUF | CADUSD |
| Deposit time | No deposit time is published. Money reaches the trading account by bank transfer (bank code 2010); Fio current accounts in the same currencies are linked to it automatically under the newer investment framework agreement, and cash in CZK, USD or EUR can be paid in at a branch | Electronic funds transfer credited within 1–2 business days (then held up to 10 business days before it can be moved back out); Interac e-Transfer deposits usually within 30 minutes (CAD cash, margin, RSP, spousal RSP, TFSA and FHSA accounts only; business days 08:00–17:00 ET) |
| Withdrawal time | No withdrawal time is published. Under the newer framework agreement, transfers from the trading account to your own Fio accounts can be made immediately in e-Broker and sent on from there through Internetbanking; direct transfers to other banks go only to accounts registered once at a branch as permitted accounts | 1–3 business days by electronic funds transfer |
| Free withdrawals | n/a | n/a |
| Languages | CzechSlovak | EnglishFrench |
| Channels | PhoneEmailBranchTicket system | PhoneEmailLive chat |
| Availability | Infoline Monday to Friday 09:00–17:00 Czech time; dealing desk for clients with a telephone password Monday to Friday 08:45–22:00; branches during their opening hours; authorised messages through Fio servis in the apps | Phone Monday–Friday 08:30–20:00 ET; live chat Monday–Friday 07:00–14:00 Pacific time |
Strengths and weaknesses side by side
Editorial assessment based on the recorded data.
Fio banka
A privately owned Czech bank with Prague, US and XETRA access and a DIP account — but currency conversion at its own rates with no published margin.
Pros
- XETRA orders cost EUR 3.95 up to an order value of EUR 1,400 (EUR 1.98 up to EUR 500 on a DIP account), with German trading from 08:00 to 22:00
- One account for the Prague Stock Exchange, RM-SYSTÉM, NYSE, NASDAQ and XETRA, plus bonds, certificates, warrants and Fio's own funds
- Offers the Czech DIP: up to CZK 48,000 a year deductible, no fees for opening or running it and no portfolio-based fees
- Fio banka, a.s. is a Czech bank and securities dealer licensed by the ČNB according to its legal notice; cash falls under deposit insurance up to EUR 100,000 and securities under the Garanční fond (90% up to EUR 20,000)
- No minimum deposit and no safekeeping fee on listed shares and ETFs held through Fio's omnibus accounts
- Free 30-day e-Broker demo and free Škola investování seminars (89 seminars in 19 cities in 2025)
- Branches across the Czech Republic and Slovakia, and a phone dealing desk until 22:00 on weekdays
- Loans for trading in CZK, EUR and USD and short selling on the Prague Stock Exchange
Cons
- US orders cost a flat USD 7.95, or USD 9.95 above 100 shares — expensive for small US purchases
- Currency conversion runs at Fio's own rates, shown only in e-Broker; the bank's FX rate sheet sat roughly 3% either side of the reference rate on 2 November 2026, with better rates only above USD 10,000 between 09:00 and 16:30
- Dividends and other cash payments credited from instruments in Fio's own register cost 0.20% plus VAT
- We found no options, fractional shares or crypto, and futures trading has ended per Fio's Slovak price list; short selling in the US is suspended
- Serves the Czech Republic and Slovakia only as far as we could find, with support in Czech and Slovak
- Fio Smartbroker rates 3.7 on the Czech App Store and 3.5 on Google Play (2 November 2026), and Fio funds cannot yet be bought in the app
Best for
Qtrade Direct Investing
Canada's best-researched discount broker — now commission-free, still let down by its mobile app.
Pros
- CAD 0 commission on equities, ETFs and mutual funds alike — the only Canadian broker of the three to make mutual funds free as well
- Morningstar analyst recommendations, target prices and fundamental research bundled free on every company page, with no data subscription
- Portfolio Analytics scores your portfolio, compares it against benchmarks and breaks it out by valuation, performance and allocation
- Consistently top-ranked customer service in independent Canadian reviews, with knowledgeable staff on registered-account and tax questions
- A genuine 30-day trial account with no obligation — neither Questrade nor Wealthsimple offers paper trading
- Backed by Aviso Wealth, owned 50% by Desjardins Financial Holding and 50% by the five provincial credit union centrals and CUMIS, with CIRO regulation and CIPF cover of CAD 1,000,000 per account category
- ECN fees are absorbed rather than passed through, except for repeated high-volume active-side Canadian trading, and Qtrade says it will contact you before charging
Cons
- Cash pays 0.00% on every balance up to CAD 2,000,000 — on a CAD 25,000 cash buffer that is roughly CAD 1,100 a year of foregone interest against a Wealthsimple chequing balance
- Qtrade publishes no foreign-exchange percentage; its FAQ says CAD/USD conversion is done at a mark-up from the Bank of Canada spot rate (a markdown on sales) but not how large that mark-up is, which makes the true cost of US investing impossible to model in advance
- The mobile app is rated 3.7 on the Canadian App Store against Questrade's 4.7 and Wealthsimple's 4.6, and independent reviewers consistently flag mobile as the weak link
- No fractional shares, no spot crypto, no futures, no forex or CFDs, and no international market access beyond Canada and the US
- USD registered accounts cost USD 15 per quarter (USD 60 a year) unless you hold CAD 500,000 or trade 150 times a quarter, and de-registration costs CAD 125 in full or CAD 50 in part
- Live chat runs only Monday to Friday from 07:00 to 14:00 Pacific time and phone support closes at 20:00 ET, with no weekend cover, where Questrade runs weekends and Wealthsimple runs chat around the clock
Best for
Open an account with either
A demo account costs nothing and answers the platform question in ten minutes.
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest.
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.
More comparisons
Alternatives people weigh up alongside these two.
