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.
• Quebec Education Savings Incentive (QESI): Revenu Quebec's official RESP provider list includes Questrade Inc.; Questrade's withdrawal guide also says its RESPs can hold QESI for Quebec residents.
• Questrade's RESP education page says CESG and CLB are applied automatically after opening and contributing, but families should still check that beneficiary and subscriber details match government records before expecting grants.

Account types

• Individual RESP.
• Family RESP for more than one child or beneficiary.
• 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 ECN, SEC, ADR, foreign-exchange, and other product-specific costs 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 withdrawal guide separates RESP withdrawals into EAP, PSE, capital withdrawal, and AIP paths.
• For an EAP, Questrade says the hand-signed RESP Withdrawal Request form must be uploaded with proof of enrolment that is no more than six months old and shows the student's name, program, dates, duration, year of study, and full- or part-time status.
• For an EAP paid to the subscriber instead of the beneficiary, Questrade says a Letter of Direction with subscriber and beneficiary consent details is also required.
• For a PSE withdrawal of contributions, Questrade says to use the same RESP Withdrawal Request form, note that it is a PSE withdrawal, and upload the hand-signed form.
• For capital withdrawals, Questrade says to upload a hand-signed RESP Capital Withdrawal form.
• Questrade says a void cheque or direct deposit form for the correct recipient'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.
• Questrade now has official-source support for QESI in this profile through Revenu Quebec's provider list, but BCTESG remains marked N/A on Canada.ca.
• Compared with several bank-owned brokerages, Questrade publishes more granular online transfer and withdrawal instructions, but the process still relies on correctly completed forms and uploaded documents.

Investment options noted on official pages

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

Sources to use