interactive investor vs Questrade — which broker is better?

Pros

• Flat monthly subscription instead of a percentage of assets — GBP 71.88 a year on Core covers a GBP 100,000 portfolio, against GBP 250–350 at percentage-based rivals
• GBP 3.99 per UK and US share trade on Core and Plus, GBP 2.99 on Premium, with one or two free trade credits included on the higher plans
• The Trading Account, Stocks and Shares ISA and SIPP are all covered by the same subscription, with the pension admin fee already inside the price and no charge for pension withdrawals
• Cash can be held in GBP, EUR and USD with interest paid on all three, so a US round trip does not have to cross the FX spread twice
• Free regular monthly investing from GBP 25 on every plan, and free transfers both in and out
• Over 40,000 investment options across 17 global markets, including a bond and gilt range that is among the better ones on a UK retail platform
• Strong editorial research: Morningstar-rated fund selections, ii's own research hub and market commentary from an experienced financial journalism team
• UK-based contact centre, with an international dealing desk open until 21:00 for US market hours

Cons

• The flat fee is punishing on small balances — GBP 71.88 a year is 1.44% on a GBP 5,000 portfolio, where a percentage platform would charge under GBP 20
• The Core plan is capped at a GBP 100,000 portfolio, so crossing that line forces a jump to Plus at GBP 179.88 a year — a 150% increase triggered by portfolio growth rather than by anything you choose
• Dividend reinvestment costs 99p per holding on Core and Plus, which quietly erodes the flat-fee advantage for income investors with many small positions
• A string of ancillary charges other UK platforms do not levy: GBP 5 a month for non-UK residents, GBP 2 plus VAT a month for paper documents, GBP 25 for a failed payment, GBP 30 a month for company and trust accounts
• Only 17 global markets against 24 at AJ Bell, non-UK and non-US international shares cost GBP 9.99 a trade on Core, and there are no options, futures, CFDs, direct crypto, fractional shares or demo account
• Support is weekdays only, 07:45–17:30, with no weekend cover — AJ Bell answers the phone on Saturdays and Sundays

Pros

• CAD 0 commission on every Canadian and US stock and ETF trade, on both the buy and the sell side, with no ECN fees at all on Canadian orders
• CAD 0 contract fee on US-listed equity options and free assignment — one of only two Canadian brokers offering this
• Questrade Pro is free to all clients and includes Level 2 depth, time and sales, chart trading, hot keys and a multi-leg options strategy builder
• No inactivity fee, no annual account fee and no minimum balance on any registered or non-registered account
• Dual-currency registered accounts let you hold USD inside a TFSA or RRSP, removing forced conversion on every US dividend and sale
• Fractional shares, pre-IPO access, private credit, bonds, GICs, mutual funds and a separate FX & CFD account under one brand
• CIRO-regulated with CIPF coverage of CAD 1,000,000 per account category, and a record as Canada's largest independent broker going back to 1999

Cons

• The 1.5% CAD/USD conversion charge is high and unavoidable unless you deliberately manage currency; on a CAD 20,000 US-stock purchase it costs CAD 300, dwarfing any commission saving
• Cash earns effectively 0% below a CAD 250,000 balance — the published formula is prime minus 8.50%, floored at zero — while Wealthsimple pays 1.25% or more on chequing balances
• CAD 150 to transfer an account out, full or partial, and CAD 9.95 per journalling request unless you pay CAD 19.99 a month for Questrade Plus
• The 'margin rates as low as prime minus 2.5%' headline applies only to USD borrowing for clients trading 5,001+ US options contracts a month; the standard CAD non-registered rate is prime plus 4.25%, and registered accounts pay prime plus 8.10%
• No spot crypto, no exchange-traded futures, and no meaningful international equity access — non-US foreign shares cost 1% of trade value with a USD 195 minimum per side
• Questrade advertises no practice or paper-trading account for self-directed clients, so there is nowhere to learn Questrade Pro without real money at risk