Keytrade Bank vs Questrade — which broker is better?

Pros

• Euronext Brussels, Amsterdam and Paris orders from EUR 2.45 up to EUR 250 and EUR 5.95 up to EUR 2,500; US orders on the same ladder in USD up to USD 10,000
• No custody fee on securities for private individuals, no account management fees and no minimum deposit
• Belgian tax handling built in: the TOB and the 30% dividend withholding tax are collected, and from 1 June 2026 the 10% capital gains tax is withheld unless you opt out
• A bank under French ACPR supervision inside a group the ECB supervises directly; FGDR cover up to EUR 100,000 for deposits and EUR 70,000 for securities
• One institution for everything: current account, regulated savings accounts, cards, securities, Keyplan fund savings from EUR 25, pension savings and discretionary management from EUR 15,000
• Broad listed range: shares on Euronext, Xetra, London, Zurich, the Nordic exchanges, the US and Toronto, more than 3,200 trackers, more than 660 funds, options on Euronext, Eurex and US markets
• Free SEPA and instant SEPA transfers, and real-time transfers between your own Keytrade accounts

Cons

• Expensive outside Euronext and the US: EUR 24.95 per order on Xetra, Milan and Madrid, GBP 29.95 in London, CHF 49.95 in Zurich
• 0.50% change costs on every securities trade that involves a currency conversion
• Real-time quotes cost EUR 2.50 to EUR 20 a month per market group unless you make 3 trades a month there; Madrid, Toronto and Oslo are delayed only
• No futures in the tariff list, and we found no fractional shares, demo account or public trading API
• Only for Belgian residents, Belgian tax residents and Belgian citizens; the EUR 100,000 deposit ceiling is shared with Fortuneo, the same bank

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