Questrade Financial Groups
“Can a Canadian discount brokerage become a full-stack chartered bank and dislodge the Big Five across deposits, mortgages, lending, and investing for the mass market?”
Founded in 1999 as Canada's low-cost online brokerage alternative to the Big Five banks, Questrade spent two decades growing its self-directed investing platform. Beginning around 2019, the company pursued a full financial-services expansion strategy — acquiring Flexiti (BNPL), launching mortgage and savings products via Community Trust Company, and applying for a bank charter. After securing OSFI approval for Questbank (Schedule I) in November 2025 and going live with Temenos Core Banking SaaS in May 2026, Questrade has transformed from a discount brokerage into a full-stack financial group competing directly with Canada's incumbent banks across deposits, mortgages, investing, insurance, and lending.