Summary: Qtrade is a Canadian broker that offers various investment services but does not directly support cryptocurrency trading. The best way to invest in Bitcoin and other virtual currencies is through digital asset exchanges regulated by the Canadian Securities Administrators (CSA) that accommodate Canadian Dollar (CAD) deposits.

We propose the Kraken exchange as it waives fees on CAD deposits and is regulated by the CSA and FINTRAC. Kraken offers a diverse portfolio of over 200 cryptocurrencies for trading and staking with competitively low investment fees. Furthermore, it facilitates swift deposits using a variety of methods, including Interac e-Transfer and cards.

Best Exchange for Qtrade - Kraken
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Kraken is a registered Money Services Business with FINTRAC (MSB Registration No. M19343731).
Table of Contents

Can I Buy Bitcoin with Qtrade?

Qtrade does not offer direct cryptocurrency investing services, including Bitcoin trading. It primarily facilitates investments in stocks and ETFs. To safely invest in digital currencies, we advise utilizing a licensed Canadian digital asset exchange. It's vital to choose a platform registered with the Canadian Securities Administrators (CSA) and FINTRAC, ensuring regulatory compliance within Canada.

How to Buy Crypto with Qtrade Alternative

For those interested in venturing into digital asset investment through Qtrade, we recommend using a regulated platform like Kraken. This platform is regulated by the CSA, offering swift and cost-free deposits in CAD from Canadian bank accounts. It supports various deposit methods, including Interac e-Transfer, wire transfer, and both debit and credit cards.

Here's a simple guide to help you navigate through the process:

  1. Account Setup: Initiate the process by creating an account on Kraken and verifying your identity. 
  2. Selecting Currency: Choose your preferred deposit currency (such as CAD) on the Kraken platform. 
  3. Funds Deposit: Select your most convenient payment method (for example, Interac e-Transfer, wire transfer, or credit card) and finalize your deposit. 
  4. Crypto Acquisition: The final step is to select the cryptocurrency you are interested in and finalize your trade.
How to Buy Crypto with Qtrade Alternative.
How to Buy Crypto with Qtrade Alternative.

Will Qtrade offer Crypto in the future?

Qtrade currently only provides users access to securities traded on Canadian and US stock markets, which includes products such as bonds and GIC's. While the platform does not give direct cryptocurrency trading, it has taken a progressive stance toward the industry. For now, customers should use authorized Canadian crypto exchanges regulated by the Canadian Securities Administrators (CSA).

What is Qtrade?

Qtrade is a Canadian online brokerage firm that provides various investment services. The company offers self-directed trading, investment advice, and online investing options. Established in 2001, it has become one of Canada's leading independent online brokers. The company prides itself on its advanced trading platform, exceptional customer service, and low fees. 

It serves over 150,000 investors across Canada and is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) while being a member of the Canadian Investor Protection Fund (CIPF). The company's reputation for excellent service and low fees, along with its accommodating approach to crypto trading, has helped Qtrade to establish itself as one of Canada's premier online brokerage firms.

Qtrade: Home Page.
Qtrade: Home Page.

Final Thoughts

To sum up, Qtrade doesn't offer direct cryptocurrency transactions but maintains a positive stance towards digital currencies. Canadian investors can connect their accounts to reputable trading platforms such as Kraken, a FINTRAC-licensed exchange. This partnership lets users easily deposit CAD and trade cryptocurrencies with low fees in a safe environment.