Closing your Questrade account (2024)

Lesson Closing an account

Closing your Questrade account (1) Closing your Questrade account (2)

Closing your Questrade account (3) Closing your Questrade account (4)

Explore the different options available when closing your Questrade account(s).

Looking to close any of your Questrade accounts? No problem, follow the instructions below for more information and key details about closing your accounts and additional options.

Depending on your account type, there may be different options available to you.

Closing your account is done in 2 steps, first you must withdraw all funds and investments, second you can close the account.

Step 1: Withdrawing all funds and investments

There are several ways to do this, you can find instructions for different ways to move your account to $0 below.

Transfers to another Questrade account

Closing one account but keeping another, or consolidating investments? We make the process of transferring from one account at Questrade to another as simple as possible.

Learn more about transfers between Questrade accounts in this lesson.

Transfers to another broker

If you’re transferring assets (stocks, ETFs, mutual funds & etc) to another bank/broker, follow the instructions provided by the recipient bank/brokerage for asset transfers.

All assets and cash can be transferred “in-kind”, in cash, or a mix. In kind means all of the stocks, ETFs, or other investments held in the account will be transferred over “as-is”, this will also include any CAD and USD cash. Some banks/brokers may not support dual-currency transfers (as in, they may not accept USD cash), so please check with the recipient for more information.


$150 + tax for both full or partial transfers

Partial transfers are when you do not transfer out all of the cash or investments in the account.

Full transfers are when there are no remaining assets in the account.

See all other potential administrative fees.

Withdrawing to a bank account

Cash can also be withdrawn from most account types directly to the bank account of your choice.Learn more about cash withdrawals in this lesson.

Please note: If the currency you withdraw is not the same as what's in your bank account (ex. CAD in the account and you withdraw USD), you may be subject to an exchange fee.

Depending on the type of account you’re withdrawing from, there may be limitations, or tax penalties to be aware of. (I.e. RRSP withholding tax)

Worthless securities

If you have investments in your account that have lost their entire market value, you will need to have them removed from your account before it can be closed. This can happen if the assets are subject to a cease-trade order,the issuer has gone bankrupt, or the shares/securities have been delisted from an exchange.Learn more about removing worthless securities in this article.

Step 2: Closing your account

After all the funds and investments have been withdrawn from your Questrade account to a bank or broker, you can create an account closure request.

To do this you must login to your account and navigate to Account Management.

Closing your Questrade account (5)

From this page you can start your request by selecting the Close an account option at the bottom right.

Closing your Questrade account (6)

The next page will show you all the qualifications you need to meet before closing your account. Once you have met these requirements you can select NEXT.

Closing your Questrade account (7)

Once you have reached this page you can select which account(s) you want to close.

After you have made your selection(s) you can select the NEXT button at the bottom.

Closing your Questrade account (8)

On the next page you can add a reason you’re closing your account(s), as well as provide any other comments or feedback in the box provided.

Select the NEXT button at the bottom when you’re ready.

Closing your Questrade account (9)

On the last page you can review any choices you made for this request, and if you’d like you can also go back to change any information.

Once you’ve reviewed your request you can select the CLOSE ACCOUNT button.

Closing your Questrade account (10)

After you submit your request, you can track its status under the Request history tab at the top. This request can take up to 2-3 business days.

Next you will be emailed within the hour to the email you have connected to your account. The email will go over the summary of your request and how to track its progress.

Once the request has been completed you should receive an email confirming that your account has been closed.

Or you can call our customer service team at 1.888.783.7866, or contact us through live chat to submit an account closure request.

Questrade does not charge account closure fees for any account types.

Note: Deregistration fees may apply if withdrawing from certain registered accounts such as the RRSP, RESP, Spousal RRSP, LIRA or LRSP.

Please note: You will have access to monthly statements and tax slips for 7 years after closing your account. These records cannot be deleted, as they are required to be kept for 7 years for regulatory purposes.

Reactivating your account

Non-registered and registered accounts may be reopened within a 3 month period after the account was closed. (The account closure and re-activation must be within the same calendar year for Registered Accounts.)

To re-activate your account you can contact us through live chat or call customer service at 1.888.783.7866.

Note: The information in this blog is for information purposes only and should not be used or construed as financial, investment, or tax advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied is made by Questrade, Inc., its affiliates or any other person to its accuracy.

Closing your Questrade account (2024)


Is it easy to close Questrade account? ›

Closing your account is done in 2 steps, first you must withdraw all funds and investments, second you can close the account.

Should I trust Questrade? ›

Is Questrade legit? Questrade is a legitimate and reputable independent brokerage you can trust. Founded 20 years ago (1999), they are based in Canada, headquartered in Toronto and focus on providing stock trading apps for all Canadians.

Do you need $1000 for Questrade? ›

While there is no minimum amount you are required to open an FHSA account, the minimum balance requirements for investing in Questrade accounts still apply. These minimum balances are $250 for self-directed accounts, and $1,000 for Questwealth Portfolios.

What is the maximum withdrawal from Questrade? ›

$50,000 CAD

Does Questrade charge for inactivity? ›

Questrade charges low fees for trading stocks and ETFs. There is no inactivity fee even if you leave your account idle for a long time. The basic withdrawal fee is $0, but some transactions may cost more.

Can I withdraw all my money from Questrade? ›

No worries - Questrade is a reliable broker that lets you access your funds any time. There are several ways to withdraw your money, including bank transfers. Withdrawal can be a bit slow, often taking 3 or more days. Questrade charges $0 for basic withdrawals, but some methods may cost more.

What is the downside of Questrade? ›

It is a good choice for beginner investors. On the negative side, the account opening process for international clients is slow and not fully digital. There is also a high fee for wire withdrawals outside Canada. Lastly, you can hold your cash only in USD or CAD.

Can US citizens use Questrade? ›

You must have a Canadian address to open an account. Questrade cannot hold regular trading accounts (non-registered accounts) for U.S. residents, even if they are Canadian citizens.

Is Questrade owned by a bank? ›

"Questrade is the only Canadian owned discount brokerage independent of all big banks, with the same protection assurance.

Does Questrade have hidden fees? ›

No. We pride ourselves in being fully transparent. With Questrade, you always know exactly how much you'll pay.

How much does Questrade charge to transfer out? ›

Transfer requests processed by Questrade are completely free to initiate. However, your outgoing institution/broker will usually charge a transfer-out fee. These range from $35-$150 for most Canadian institutions.

Is Questrade tax-free? ›

Your investments can continue to grow tax-free within the account like an RRSP, making the FHSA an ideal choice to avoid capital gains and/or income tax on your investments while saving for a home. Ready to buy or build your first home?

Is Questrade safe for long term? ›

Is my money safe with Questrade? Yes, your money is safe with Questrade, a firm founded in 1999 that now holds $30 billion in customer assets.

How many Questrade accounts can I have? ›

There is absolutely no limit to the number of accounts you can open at Questrade.

What is the minimum funding for Questrade? ›

What is the minimum deposit at Questrade? At Questrade, the minimum deposit amount is $1,000. This means that you have to deposit at least $1,000 to be able to start trading. After you have completed the registration and verification process, you need to fund your account to start trading.

Is it hard to close a brokerage account? ›

Most brokers will require a request to close the account be submitted in writing (or electronically) and would not accept a request over the phone. A less common method for closing an account is through a transfer of ownership.

What are the cons of Questrade? ›

It is a good choice for beginner investors. On the negative side, the account opening process for international clients is slow and not fully digital. There is also a high fee for wire withdrawals outside Canada. Lastly, you can hold your cash only in USD or CAD.

How much does it cost to close a Qtrade account? ›

Be aware, if you close the account within your first year, a fee of $100 plus tax will apply. If you transfer the account to another brokerage firm, there is a transfer out fee of $150 plus tax. If you are withdrawing from a registered account (TFSA, RRSP), please be aware of the de-registration fee of $125 plus tax.


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