Electronic communication networks (ECNs) and alternative trading systems (ATSs) are intermediaries that connect brokers to the market. They facilitate all transactions and add liquidity to the markets. You'll only be charged an exchange fee if you take the above action.
In addition to your trading commission, you may be charged an Electronic Communication Networks (ECNs) or Alternative Trading Systems (ATSs) fee. ECNs and ATSs charge a fee to everyone who trades on their exchange. Rather than roll this fee into our trading commissions and have higher commissions, we charge each trader who incurs the fee directly. ECN fees don't apply to every trade.
|Canadian securities $1.00 and above||free|
|Canadian securities $0.99 and below||free|
|Canadian securities $0.99 and below – CSE||free|
|U.S Securities - MNGD, LAMP||free|
|U.S Securities - INET (NSDQ)||free|
|U.S Securities - ARCA, NYSE, EDGX||free|
|U.S Securities – EDGA||$0.004/share|
ECN fees are only charged when a buy or sell order removes liquidity, meaning it's likely to be filled immediately. This includes all market orders, where the investor accepts the price without specifying a minimum or maximum.
|Canadian securities $1.00 and above||$0.0035/share|
|Canadian securities $0.99 and below||$0.0008/share|
|Canadian securities $0.99 and below – CSE||$0.0012/share|
|U.S Securities – MNGD, LAMP||free|
|U.S Securities - INET (NSDQ)||$0.003/share|
|U.S Securities - ARCA, NYSE, EDGX||$0.004/share|
|U.S Securities – EDGA||free|
You may also be charged an ECN fee if you trade a “non-marketable order,” which is a technical term for any order not in a multiple of 100 shares. If you put in an order to buy or sell 50 shares, this type of order is a non-marketable order and will be charged an ECN fee. An order of 100, 200, 300, etc. shares is a standard lot (also known as a board lot) and a “marketable order,” and will not inherently be charged with an ECN fee.
The U.S. Securities and Exchange Commission (SEC) collects a fee for all sales of U.S. securities. This fee will only be charged if you sell an American security listed on an American exchange.
The fee is calculated at 0.000013 x the value of the trade.
E.g. Selling 100 shares of a U.S. stock at $25 (100 x $25 = $2,500) will incur an SEC fee of $0.0325 USD (0.000013 x $2,500).
Agent banks usually charge investors an annual custody fee for holding American Depositary Receipts (ADRs). 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.
When you purchase warrants and rights, the exchange charges you a fee to remove liquidity.
|Removing liquidity||All exchanges except CSE 0.025% of the value per fill* (min $0.50, max $50.00)|
|CSE securities greater than or equal to $1.00||$0.0035/unit|
It is possible to have multiple fills per order and be charged the minimum fee multiple times for the same order.
When purchasing notes and debentures, there is a fee per par value for each side of the transaction.
The DTC (Depository Trust Company) is one of the world’s largest securities depositories. It provides safekeeping through electronic record keeping of securities balances. It also acts as a clearinghouse to process and settle trades in corporate and municipal securities. A non-DTC eligible security are securities which, due to restrictions imposed by the Depository Trust Company, cannot be deposited electronically.
Settlement of non-DTC (Depository Trust Company) eligible securities $450.00
Following is a list of fees that we will only charge if or when you do a specific action. If you don't have any of these requests, you won't be charged.
|Private placement request 1||$175.00/trade|
|Research request (minimum one hour)||$75.00/hr|
|Precious metals withdrawal fee 2||$75.00|
|Precious metals gold storage fee (pooled) 3||0.50% of market value|
|Precious metals silver storage fee (pooled) 3||0.75% of market value|
|Precious metals storage fee (separated) 3||1.50% of market value|
|Private investment transactions 4||$75.00 each|
|Private investment quarterly physical holding fee 5,6,7||$24.95|
|Private investment quarterly physical holding fee-additional accounts 5,6,7||$12.50|
|Private investment one-time product onboarding fee (issuer only) 8||$250.00|
Trade commissions are charged by a broker when you buy or sell certain investments.
|Stock Trade - Buy||$0.01/share (min. $4.95 to max. $9.95)|
|Stock Trade - Sell||$0.01/share (min. $4.95 to max. $9.95)|
|ETF Trade - Buy||free|
|ETF Trade - Sell||$0.01/share (min. $4.95 to max. $9.95)|
|Options Trade - Buy $9.95||+$1.00/contract|
|Options Trade - Sell $9.95||+$1.00/contract|
|Mutual Fund Trade - Buy||$9.95/trade|
|Mutual Fund Trade - Sell||$9.95/trade|
|Mutual Fund Rebates Processing Fee||$29.95/month|
|Bonds - Buy||Min. $5,000.00 purchase|
|GICs - Buy||Min. $5,000.00 purchase|
|International Equities - Buy||1% of the value of the trade (min. $195)|
|International Equities - Sell||1% of the value of the trade (min. $195)|
|IPOs & New Issues - Buy||free Min. $5,000.00 purchase|
|Precious Metals - Buy||$19.95/trade USD|
|Precious Metals - Sell||$19.95/trade USD|
|Trades executed via the trade desk||$45.00/trade|
With Questrade, you get some of the lowest administration fees in Canada.See administration fees
Yes, ECN fees are easily avoidable. See how.
Commission fees are lowered by signing up to an advanced market data package.
No. We pride ourselves in being fully transparent. With Questrade, you always know exactly how much you'll pay.