Electronic communication networks (ECNs) and alternative trading systems (ATSs) charge a fee to all market participants who use their networks.
Questrade charges the following in order to offset ECN and ATS access costs. Charges are in the currency of the exchange:
Additional Canadian security fees
Warrants and rights:
- Adding liquidity: free
- Removing liquidity
- All exchanges except CNSX: 1/40th of 1% of the value per fill (not per order). It is possible to be charged the minimum fee multiple times for the same order; min $0.50, max $50.00
- CSE securities
- CSE securities ≥ $1.00: $0.0035 ($ / unit)
Notes and debentures:
- $0.10 per $1,000 par value per side.
- Regular commission fees apply (including the Questrade Advantage).
- CSE notes and debentures: $0.10 per $1,000 par value per side; minimum $1.00.
- The SEC collects a fee for all sales of U.S. securities.
- Effective March 18, 2014, the fee is calculated at 0.0000221 x the value of the trade. E.g. selling 100 shares of a U.S. stock at $30 (100 x $30 = $3,000) will incur an SEC fee of USD $0.07 (0.0000221 x $3000).
American Depositary Receipts (ADRs)
Investors holding American Depositary Receipts (ADRs) in their account should note that the agent banks are permitted to charge an annual custody fee on such securities. The amount and timing of custody fees are detailed in your ADR prospectus. As per the U.S. Securities and Exchange Commission (SEC), the Depository Trust Company collects the custody fees on ADRs that do not pay periodic dividends. If you hold an ADR that does not pay a dividend the fee will be deducted from your account and posted on your monthly statement. ADRs can be traded online through an IQ Platform.
For more information about ECNs and ATSs, please read our blog post.
1 Opening and extended-hours trades are billed at the same rate.
2 Canadian orders can execute on any of the following alternative trading systems (ATSs): Alpha, Chi-X, CX2, CSE, Lynx, Omega and TMX Select.
3 U.S. pre- and post-market trades are billed at the same rate as TSX extended-hours. Canadian stocks do not have a pre-market.