Questrade Review
Investing Personal Finance

Questrade Review

Questrade is Canada’s largest and most popular online brokerage company as of September 2018. They were founded in 1999 and offer a full range of investing / trading products and services for both the average investor and high-volume active trader.

Their journey from industry laughing-stock in its early years to its current place atop the field, consistently, as the best brokerage firm in Canada (cited by Globe and Mail, MoneySense Magazine, and Deloitte annual rankings) has been a long and fascinating one.

Within this in-depth Questrade review I will explore their impressive range of offerings and debate if you should join.

Commissions & Fees

Stocks1¢ per share: $4.95 min, $9.95 max – Active @ 1¢/min, $6.95 max
ETF (Exchange Traded Funds)Free (No commission charge)
Mutual Funds$9.95/online. Offline add an additional $45 for trader fee
Options$9.95/trade + $1/contract – Active @ $4.95/trade + 75¢/contract
Managed Investing (Portfolio IQ)Cost varies – 0.35% to 0.70% (minimum of $1,000 in assets)
Canadian IPOs$9.95/order – minimum order size of $5,000
International StocksCost is 1% of trade value (minimum charge of $195)
Precious Metals$19.95/trade
Forex TradingCost is integrated in the pip spread @ approx. 1.0 – 1.7 pips
Bonds/CNSX Securities/GICsFree (No commission charge) – minimum order size of $5,000
Debenture Trading$30/trade

Questrade Offer Code

Get $50 – Use Offer Code: Canada
Questrade Offer Code

The above table should be glanced at again! It is not a typo, nor an exaggeration! Questrade offers the cheapest trades in virtually every investment category in all of Canada. There pricing structure hasn’t changed since their inception and is so impressive that it actually encourages new and small investors to jump into the investment game while also drawing in disgruntled investors from other brokerages.

Questrade conveniently can cover all transfer out fees imposed by other financial institutions if interested in moving your existing trading account to them. This makes the allure to join even more tantalizing.

For stock trading, Questrade offers a unique democratic pricing structure. Long-term, less active, investors have the popular option of 1¢ per share with a minimum charge of $4.95/trade and a ceiling maximum commission charge of $9.95. Active traders — those who make high volume share trades — have the choice of 1¢ per share (1¢ minimum / $6.95 maximum), or a $4.95 flat stock commission charge. All account holders can switch between these pricing options at any time. But be aware that a switch to the active trader program involves subscribing to one of Questrade’s several advanced market data plans.

Since 2013 Questrade continues to have no commission charge on the purchase of ETFs (Exchange Traded Funds). ETFs are free for everyone. This has radically changed the face of index investing for the better. It has opened up a whole new world for those who prefer to purchase on a monthly basis to take advantage of dollar-cost averaging. It also makes compound interest and re-balancing portfolios that much sweeter.

While we’re on the topic of ETFs, many other brokerages (including banks) still charge a fee for ETF trades, strangely enough, ensuring the ill-advised “timing the market” strategy as a common practice by many amateur investors at these other financial outlets in hopes of saving on commission costs. This is obviously no longer necessary while investing at Questrade. With so many turning to ETFs these days due to their low MER and diversified reach it’s a wonderful breath of fresh air to be able to do so at no cost. All indications seem to be that Questrade was the first discount broker in Canada to do this, and I applaud them.

Questrade also makes it abundantly clear that they don’t charge setup fees, annual fees, and hidden fees on any of their services which is a welcome change from the industry norm. A special note should be given, however, to how they handle account inactivity.

Although historically Questrade has never charged an inactivity fee, they recently did a subtle change to that policy. It’s actually not that bad when you peruse the details. If anything it’s quite reasonable. This policy adjustment can potentially charge $24.95 (no tax) per calendar quarter. All Questrade account holders, however, including households having the same physical address (which can also be a group of strangers when using the myFamily program), with combined equity assets of at least $5,000 are exempt from this inactivity fee. This fee also does not apply to charitable accounts, forex accounts, individuals 25 years of age or younger, and all new accounts opened for only 6-months. If, however, this fee still does apply to you then simply make at least one commissionable trade per quarter (once every 3-months) and you will not get charged. Further, if you are inactive for a quarter and do get charged, then by making at least one trade in the following quarter will trigger a refund up to $24.95 in commission-free trades as compensation. Fair enough.

For most investors this policy change is trivial since their assets are almost always over $5,000. And so most people will never get charged this inactivity fee. As I pointed out earlier, I think this change is perfectly reasonable and still miles better than all other discount brokerage houses who not only charge an inactivity fee, with no exceptions, they do so more frequently (each month) and tack on countless hidden fees which Questrade does not.

New Accounts

There are two sets of accounts offered by Questrade: Self-directed and online Managed Investing.

Self-Directed Investing: These accounts are for those who want full control of their investment decision-making. They will save you the most money, in terms of commission costs. The Standard Margin (Individual) account is the most popular account type opened by new customers.

Managed Investing: These accounts are for those who want Questrade to manage all investment decisions on your behalf, for a nominal annual fee. They require the least amount of effort on your part and tend to earn higher returns in the long-term. From my analysis, these accounts are indeed handled by a real staff (the Questrade Wealth Management division) behind the scenes. Under their management, they consider your personal goals and risk tolerance to match, manage, monitor, and adjust for the best investments without your daily involvement. Questrade calls this Portfolio IQ.

Questrade Accounts

Investment StyleAccount Type
Self-Directed Investing
  • Standard Margin:
    Individual (popular), or Joint
  • Trust:
    Informal, Joint Informal, or Formal
  • Entity:
    Sole Proprietorship, Partnership, Investment Club, or Corporation
  • Registered:
    TFSA, RRSP, LIRA, RIF, LIF, Individual RESP, or Family RESP
  • Forex (FX) & Contract For Difference (CFD) Trading
Managed Investing
  • Actively Managed by Staff Assigned To Your Account @ Questrade

Please note, unlike self-directed, managed investing comes with a price — a $14/year minimum management fee charge. In my opinion self-directed is all one will ever need considering how making informed investment decisions is quite simple for even newcomers these days. And to compound on this, self-directed accounts have no fees (outside the usual trade commission) associated with them unlike their managed investing cousins. I’ll be going in-depth on their managed investing side in a later section of this review.

Initial Deposit Requirements

Although immediate access is gained after joining (don’t forget to use the Questrade offer code: Canada to get $50 free during sign-up), your account isn’t activated. To officially activate your account, so as to begin trading, an initial deposit is required.

ActionInitial Deposit
Buy Stocks & Bonds$1,000
Trade Option Spreads$5,000
Write/Sell Uncovered Options$25,000
Managed Investing$1,000
Forex & CFD$1,000 USD*

For stocks and options, you will need to maintain a minimum equity balance of $250, after meeting the initial deposit requirement, to keep your active account in good standing. If, however, you plan on doing managed investing then it’s required that you maintain $1,500 in account value once you’ve invested. If that value drops below $1,500 then your investments will be liquidated.

Once this initial minimum deposit has cleared, Questrade emails you a confirmation message. For offline applications you will be contacted by one of their representatives confirming trading can begin. It takes roughly 1-3 business days for Questrade to receive and process this deposit.

* Canadian currency deposits into forex & CFD accounts are auto-converted into US currency.

Sign-up Process

Opening an account with Questrade is a remarkably quick, intuitive, and painless process. It took me no more than two minutes to open a general account, which immediately gave me access to practice within trading platforms, and to post on their vibrant discussion forum. It took me under twenty minutes to open their popular individual margin trading account.

Questrade Offer Code

The online application requires your social insurance number (for reporting interest and dividends earned to CRA, but you are given the option, on the page, to not allow them to use your SIN), employment information (or source of income if unemployed), and a form of identification (e.g., driver’s license). And although they have an offline alternative that you can printout and fill in, I highly recommend their secure online process instead because it reduces the amount of write-in errors and legibility issues, and supports DocuSign for the online signature signing process.

Questrade Sign-up

One of the first things you are required to do when signing up is to define a user ID and password for your new account. Doing so provides the incredibly convenient ability to return to an incomplete application at a later time.

I found that sessions during sign-up time-out after 30 minutes of inactivity. This is more than enough time to collect required documents and credentials, and to review your inputted details for any mistakes.

Ways To Fund Your Account

Funding Method
Online Banking (via bill Payment)Interac Online
Cheque (Certified is preferred)Pre-Authorized Deposits
Transfers from Another BrokerageWire Transfer
Bank DraftStock Certificate
Money OrderYour Questrade Accounts

Accounts numbers consist of ten numerical digits (e.g., 12345678-90). This is a step up from their pre-2011 six character alphanumeric size, and as such it’s been reported that some external banks still enforce an eight character limit for payee accounts when you attempt to send money to Questrade. To get around this our readers have indicated that you only need to provide the first eight digits of your Questrade account number. Using this helpful workaround your funds will still be delivered successfully.

When making a deposit using online banking or via Interac you should keep in mind that it’s not possible to send USD to your Questrade account — only CAD. This is due to a limitation of EFT at the issuing bank, not Questrade. All the other funding methods shown above support the ability to fund your account with either CAD or USD. Withdrawals of USD funds from your Questrade account to a USD bank account works perfectly fine.

If you need to deposit USD currency right away and none of the methods above fit your needs, you still have few more options: You can convert your existing CAD balance, held within your Questrade account, to USD using the Exchange Funds tool (found under Requests). This can take up to 24 hours to process. Or, you can take advantage of Norbert’s Gambit (see the FAQ)! Successful conversions have been confirmed by readers of this Questrade review.

Before withdrawals can be initiated, Questrade requires that you provide a void cheque or a pre-authorized deposit agreement form signed and stamped by your bank. This only needs to be done once per bank account. It takes roughly three business days to process a withdrawal and for the funds to arrive into your bank account.

Member’s Account

Your account’s primary control portal is known as myQuestrade (alternatively, Questrade Account) and it is a beautiful experience with well thought out organization and visual appeal. There is a lot of love put into this portal, providing a consistent fully immersive and responsive experience. I found that it worked seamlessly with every smartphone, tablet, laptop, and desktop I could throw at it.

This portal fully integrates trading and account management together effortlessly. It gives immediate access to buying and selling securities, working with research tools, using a bustling library of partner apps (and developer’s API) on any of your devices, viewing your account activity, analyzing balances and positions, managing your personal details, viewing statements, making fund transfers in & out of your accounts, uploading & downloading your documents, exchanging CAD/USD currency between accounts, taking corporate action on shareholder communications, transferring positions, opening additional accounts, retrieving tax slips, exercising options, interacting with mutual funds, and more.

Questrade Investment Summary

Once your account is activated for trading you are conveniently asked when you log in for the first time to select a default home base. A home base is where you would like Questrade to directly place you each time you log in. You have a choice of either your account management page or the online trading platform. This is definitely a helpful time saver, but, if necessary, you can jump between each via an always-visible top menu bar. And you can change your home base at any time from the Settings page.

They also have several self-help areas, including a robust learning centre of ebooks (e.g., options strategies, and Forex & CFD trading), fact sheets, an in-depth glossary, and a very active online community discussion forum called The Exchange. The Exchange is where you’d want to hangout, ask questions among other engaged investors, share expertise, and browse a growing library of how-to resources and help guides. I found this area to be very enjoyable, especially because so many were sharing incredible investment advice and unique tips that I may not have discovered in other ways. A welcome surprise was seeing Questrade’s representatives so consistently involved in this forum’s discussions.

The Exchange Discussion Forum

Reports

Located under the Reports menu option are a slew of subcategories providing details about trading and general account activity. Some of these subcategories include: Investment Summary (pictured above), Trade Confirmations, Account Activity, Statements, Investment Return, and Tax Slips. Collectively, these reports allow you to explore all of your investments (stocks, funds, bonds, etc), buying power, total equity, current cash balances and positions (in CAD and USD), and more.

Questrade Account Activity

Your trading history is maintained for 36 months while eStatements, generated monthly, are stored for 7 years. Tax slips (e.g., T3, T5, T5008) are also made available electronically for each year.

Questrade Statements

New statements are published on the 15th of each month and made available for immediate download as PDF files. These reports have improved dramatically over the years and contain a rich tapestry of useful colourful charts and graphs to make it easier to understand your performance to-date and compare it against previous years. Going further, these statements are very detailed, and very carefully constructed not to just be intuitively understood by the layman investor, but goes in-depth to provide breakdowns of the month’s activity details, a summary of all trades settled by the end of that month, conversion rates, allocations, current and historical rates of return, dividend distributions, and special notes from the brokerage.

Looking Inside a Questrade Statement

Because I view myself as an average investor, the styling approach laid out in these statements are an excellent bonus offered by Questrade.

Although Questrade highly endorses the viewing, downloading, and/or printing of monthly statements online as PDF files, and provides them free of charge, they still offer the alternative option of mailing out paper statements. This alternative, however, does cost $20 per statement. If you still prefer these hardcopies, then you can put in a request directly by phone or through their live help chat window.

Dual Currencies

Questrade’s margin and registered accounts are comprised of two sub-accounts — one that holds Canadian funds, and the other for holding U.S. funds. This is incredibly convenient since it stops unnecessary automatic conversion charges, common at virtually all other brokerage firms, when trading U.S. instruments. Questrade does not do automatic currency conversions. Other brokerages, on the other hand, do this simply because it maximizes their profits. Good for them, bad for you.

For example, with Questrade things like U.S. dividend income from U.S. traded stocks will remain as USD and automatically be deposited into your U.S. sub-account. The same is true when funding your margin (or registered) account by either currency type; the funds will automatically be placed into the associating sub-account of the same type.

Funds can be moved between sub-accounts using Questrade’s Exchange Funds feature, but just take careful note that by using this tool it will involve a conversion based on the spot rate at the close of market in Toronto plus a spread fee. This spread fee is 1.99% for both margin and registered accounts. If total equity exceeds $100K, however, this fee drops to 1.70% for margin and 1.00% for registered accounts. If converting between USD/CAD, a better approach would be to use the Norbert’s Gambit technique because it eliminates almost all currency exchange fees. Please see the FAQ for more details.

Questrade Exchange Funds

An interesting related note is that Questrade continues to be the only brokerage in Canada to allow dual currency (CAD and USD) to be held concurrently inside registered accounts (i.e., TFSA, RRSP, RESP, RIF, LIRA, LIF) at no cost which in and of itself will save a colossal amount of money from unnecessary conversion fees. And whereas other brokerage houses do routinely charge annual fees for just having a registered account, Questrade doesn’t charge an annual fee at all; allowing your yearly contributions to grow with maximum efficiency.

Trading Platforms

Questrade has four trading platforms: Trading with Questrade, a fully functional web-based trading platform for Windows/Macs/Linux desktop users, as well as for mobile devices; Questrade IQ Edge, a streamlined desktop-based trading platform for Windows 7/8.1/10+ and macOS 10+; Questrade Mobile, their mobile entrant into the field of on-the-go trading, for iOS and Android; and Questrade FX Global, their web-based forex & CFD market trading platform for most desktop and mobile users.

This entire suite is free to use and practice accounts (with virtual money) are available without even having to activate a real trading account. Many of these platforms include snap quote live Canadian/U.S. streaming level 1 data, a charting package, research tools for fundamental and technical analysis, and more. And although it is made available for free, these platforms can be upgraded to include one of three data packages or add à la carte feeds.

Now, let’s probe deeper into each of these unique platforms in turn and see what they have to offer.

Trading with Questrade

This is Questrade’s most popular free trading platform. It serves as the primary trading gateway for most users entire investing experience. It also serves as Questrade’s answer for those who, for one reason or another, may not have access to (or be compatible with) their Mobile or IQ Edge applications. As such, this trading platform is what Linux users turn to when needing to trade stocks, ETFs, and options.

Trading with Questrade - Stocks

Trading with Questrade is craftily integrated into the Questrade Account portal and is reachable through the prominently displayed green Trade button located at the top menu bar. For convenience, this platform can be set as your home base when you log in. This platform is a fully compliant HTML5 browser-based responsive experience, it does not require a download, nor any third-party add-on, to be fully functional.

Taking a spin with this platform was an incredibly liberating experience — an excellent amalgamation of power and usability. It’s very featured-packed. It also introduces the concept of Gadgets into the platform lexicon. A gadget is an arrangeable user-customized view into your trading/market details. Some of these gadgets include: activity (a logs viewer), balances, time & sales (current global activity of a stock), level 1 quotes, level 2 quotes (if you’d paid for this extension), news, orders, charts, position summary, and a watch list. Any custom changes you make to your platform layout are automatically saved and restored when you re-log back in.

Trading with Questrade - Charts

This platform was surprisingly lightning fast and responsive in every web browser I tested it in. Memory and CPU footprint usage was astonishingly small despite the depth of options, activity, and functionality it had to offer. I also found that sessions don’t appear to have any inactivity time limit.

A nice bonus feature of this platform was being able to start a trading task on one device (e.g., a home PC) and effortlessly shift to another device (e.g., smartphone or tablet) to complete it. This is an invaluable little addition because it can allow one to carefully construct lengthy trading procedures while permitting free movement during busy schedules. Additional bonus points also have to go to their clever use of green and red colouring in real-time to help more easily distinguish stocks and options price variations as they happen.

Impressively, this web-based trading platform has almost all the features found in IQ Edge, its bigger brother in this family. Notable differences include the lack of multiple workspaces, heat maps, and surprisingly, the inability to change color themes — you’re stuck with that white look, unlike IQ Edge which has selectable themes. So, if you feel you may need one or more of these missing features then I’d recommend you use their desktop-based IQ Edge platform instead.

Questrade IQ Edge

Questrade IQ Edge is the big boy of this suite. It comes as a free install-based native PC (or Mac) desktop application. And although it is commonly used by many investors, regardless of experience, this platform was specifically engineered to cater to active and professional traders.

Questrade IQ Edge - Order Entry

Interestingly, Trading with Questrade and IQ Edge share many features in common. But I did find the following unique differences.

IQ Edge allows for an unlimited amount of workspaces. A workspace is a screen area allowing one to open and customize a new set of gadgets or windows for a particular targeted purpose that suits a trading environment style. Multiple navigable workspaces is a valuable asset for active traders.

Other key differences I uncovered was that IQ Edge offers significantly more advanced options for order entries, such as conditional orders (e.g., trigger orders at a specific time, price, or volume automatically), creation of bracket orders, more extensive alerts, and multiple order entry windows. This platform also includes more extensive research tools and heat maps.

Questrade IQ Edge - Drawings

I also discovered a few subtle differences as well. IQ Edge allows for extensive gadget customizing, which takes them well beyond what is possible in Trading with Questrade. Most of these customizable features, however, are visual (e.g., drag-drop, resize, custom colourizing, blinking text). It depends on the gadget. Curiously, gadgets don’t have a snap-to feature and so they do not auto-arrange when the main application window resizes. It’s a bit annoying but not a deal breaker because most people just position their gadgets at a particular spot and maintain the application window at a set size.

Interestingly, any gadget customization you make in IQ Edge does not transfer over to their other trading platforms (assuming the same gadget exists), and vice versa. Ticker symbols and the related data inside gadgets (e.g., alerts), however, are properly maintained across different trading environments.

Thankfully IQ Edge incorporates different user-selectable colour themes, ranging from dark (default), light, and a sky blue. This is a welcome change from the screen burn-in white theme that their other trading platforms (excluding FX Global) are unfortunately hardwired to only use.

One additional allure of IQ Edge is that it gives a trader the sense of comfort knowing their platform’s trading activity will not be delayed or experience hiccups as might be the case if using a web browser. When speaking with Questrade’s technical staff, I was told that this platform is written from the ground up using optimized C++ code and deployed specifically for Intel processors, ensuring the speediest of responses for the most serious of traders. Unfortunately, at the time of this writing there is no 64-bit version for IQ Edge on PC platforms. For Macs it is natively 64-bit. Don’t get me wrong, this will still run perfectly fine on 64-bit Windows-based PC systems. It just won’t be running as efficiently as it could be. Here’s hoping in the near future an optimized 64-bit Windows version of IQ Edge will be made available.

Questrade Mobile

Because many of us spend a lot of our time on mobile devices, it only makes sense that we want to be able to swipe, tap, and invest on-the-go as well. Questrade Mobile fills that void.

Questrade Mobile - Quotes / Charts

This free platform is a surprisingly very powerful, very capable mobile trading platform. Operating anywhere at any time, this app is available for iOS and Android devices from their respective app stores. The visual layout and organization of features is very well thought out — I can navigate and use the app with intuitive ease. And although they conveniently provide an interactive help tool I found there was little need to use it.

Questrade had originally planned to release a similar version for Windows Phone and Blackberry but, understandably, due to those aforementioned device’s almost non-existent market share, the idea was scrapped late in the development cycle. As such, users with those devices, including Linux, will need to use the browser-based alternative trading platform: Trading with Questrade.

I found Mobile’s feature set to be nearly identical to their Trading with Questrade platform, but with visual tweaks to better suit portable device operability. You can even perform account management actions directly within the app.

Questrade Mobile - Order / Watch List

After using this platform for several days it’s clear to me Questrade is continuing to aim Mobile to be as feature-rich as IQ Edge over time so that even active traders can be less dependent of their desktops. I’m sure this will be greeted with overjoyed smiles by those traders who have been yearning to be more fully unshackled from their IQ Edge dungeons. On-the-go is here to stay so it only makes logical sense that Questrade will be continuing their trend of integrating more Edge-like whiz-bang functionality into Mobile, possibly surpassing their web-based sibling over time.

There is no question that Mobile is an integral component to Questrade and quite possibly view it as the most important in this entire platform suite, in terms of long-term growth, since most people will continue to be looking to their phones (and other portable devices) as their primary hub to the markets.

Questrade FX Global

This is their free specialty web-based platform geared specifically to foreign exchange (FX) and contract-for-difference (CFD) traders. For the curious, FX contracts and CFDs are over-the-counter derivatives. FX Global gives you the ability to speculate on the price movement of currencies, energy, agriculture, metals, and equity indices from one account.

Questrade FX Global - Charts

FX Global lives and breathes within the web browser. And my tests found the interaction to be seamless across every device I checked. That includes: PC, Mac, Linux, and mobile devices.

The platform conveniently tracks all trading activity in real time. I could execute trades from live bid/ask quotes just with a simple click or tap at any time. I was also able to keep tabs on open positions, watch for instant profits and losses, view account balances, and analyze historical activity, all on-screen.

Other positive noteworthy features in my evaluation include the ability to switch environment themes (i.e., dark or light), up-to-the-minute embedded news, research tools, technical analysis indicators, watch lists, and push notification alerts to your phone.

Questrade FX Global - Trade

I found this platform to be designed very well and I could long and short hundreds of global currency pairs and CFDs with ease. The entire experience was surprisingly much more natural feeling than I was expecting; and this is coming from someone who has very little prior experience in the FX & CFD markets. Trading within the platform can be done 24 hours a day from Sunday evening to Friday afternoon, but, if necessary, existing forex account holders can also place orders for free over the phone.

Research Tools

One of the keys to successful investing is through tenacious market research — doing your homework. And so, while compiling this review I felt an honourable nod should be given to Questrade’s stand-out research tools: Market Intelligence and Intraday Trader.

When you login, both tools are found tucked away under the Market Research menu selection.

Market Intelligence is the place to go when you need to get the latest market news in North America, Europe, and Asia as it happens. With research data and ratings provided by MorningStar, I was able to successfully look up a lot of valuable material (e.g., reports, earnings) on whole industries, companies, and specific stocks without having to leave my account. There is also a very useful criteria-based email alerter to keep track of stocks. You can set it up to alert you on price changes, volume fluctuations, bid sizes, and more.

Market Intelligence

The other research tool, Intraday Trader, is a comprehensive technical analyzer that monitors the NSYE, NASDAQ, AMEX, TSX, TSX Venture, and ARCA. By providing an event triggering watch list (pre-set or custom), it’s able to scan those markets and cross-reference technical patterns of interest throughout the trading day. When a target has been triggered I get notified with charts and a description on what caused it and why. It’s clear that the goal of this tool is to give you a heads-up on potential trading opportunities as they are happening. Interestingly, I began noticing over the following days that I kept returning to use this tool and adding more refined complexity to my event triggers. In short, using this tool can become quite addictive.

Intraday Trader

Managed Investing (Portfolio IQ)

Self-directed investing (aka DIY trading) is offered essentially by every discount brokerage in Canada and has been a popular choice by the general public due to the cornucopias of easy-to-use tools and support made available to investors desiring complete control over every aspect of their financial interests. With this style of investing, customers have always been able to sculpt their own investment strategy, define their portfolio, buy and sell securities, and more.

However, another option exists. For those with very little time, while continuing to carry big investment ambitions, Questrade introduced Portfolio IQ, the alternative to self-directed investing. Really known as managed investing, Portfolio IQ takes away the stress of investment decision making, such as asset allocation and re-balancing, and puts this work into the hands of experienced portfolio managers of their Questrade Wealth Management division.

Portfolio IQ - Review

Who doesn’t want to take it easy and watch their money grow towards financial independence with little effort? It’s a dream come true! However, the difficulty lies in trying to figure out how exactly to do that. This is where I feel Portfolio IQ comes to the rescue.

I discovered that Portfolio IQ was Canada’s first online wealth management service. Another accomplishment by Questrade. When speaking with one of their managers, he expressed that the advent of Portfolio IQ is to grow and become a definitive market disruptor. To make managed investing accessible to everyone. He went on to say that because managed investing has typically been an exclusive club for the very rich, their goal was to hark back to their motto of unlocking all things restrictive to the masses by doing away with convention. That’s a bold statement. So naturally I signed up for an account and had a look around.

Opening a Portfolio IQ account is straight-forward and only requires an initial deposit of just $1. As an extra bonus, this review’s Questrade offer code — also known as a Questrade referral code — can be used when opening a managed account to receive a free cash bonus. Once open you’re taken through a quick, simple to use point-and-click/tap questionnaire to set up an investor biography that identifies your risk tolerance, existing financial circumstances, market knowledge, and investment ambitions. This is all used to help crystallize the best portfolio that will matter to you. If your goals change, then you can adjust your biography to keep things in balance, which will then automatically update your underlying portfolio model accordingly.

Portfolio IQ - Tolerable Risk

ETF Portfolios

There are five portfolios and they all deal exclusively in ETFs. Composition is an assortment mix of sectors, markets, and countries.

PortfolioRisk LevelComposition
Conservative IncomeLow80% fixed, 20% equity
IncomeLow – Medium60% fixed, 40% equity
BalancedMedium40% fixed, 60% equity
GrowthMedium – High20% fixed, 80% equity
Aggressive GrowthHigh100% equity

Further, each of these portfolios have three tiers. Each tier has a different set of sector-specific and country-specific ETFs. It is your account asset value that determines which tier position you’re automatically assigned within the portfolio you’ve selected.

Fee Structure

Although it only requires $1 to open a Portfolio IQ account, your money sits uninvested until it reaches at least $1,000. Once that threshold has been reached, your money is automatically shifted into your selected portfolio, and your very own assigned team of specialists will begin actively managing and adjusting your portfolio as opportunities arise in the markets. I found they vigilantly kept re-balancing assets to stay within my risk tolerance without any daily involvement on my part, which was nice.

I didn’t find any trading or trailing commission fees. I did uncover a nominal annual management fee, however, which varies based on your existing total account asset value. This fee only gets charged when you have at least $1,000 in savings within your managed account. If it does apply then it’s broken up and charged proportionally on a quarterly basis. Relative to other brokerages and banks, this management fee is by far the lowest I’ve seen.

Total AssetsAnnual Fee
Less than $1,000No Fee
$1,000 – $99,9990.7%
$100,000 – $249,9990.6%
$250,000 – 499,9990.5%
$500,000 – $999,9990.4%
$1,000,000+0.35%

With the added benefit of taking full advantage of tax-loss harvesting, and providing a last quarter management fee refund guarantee if you’re not fully satisfied for any reason, Portfolio IQ is an extraordinary entrant into the managed investing arena. It has that perfect resonating mix all investors, big and small, crave when they daydream of an unshackled financial tomorrow.

IPO Centre

Participating in initial public offerings (IPO), secondary issues (additional shares/bonds offered by a public company), and structured products has always been the holy grail for many investors due to the incredible euphoric frenzy of the 1990’s internet IPO boom, and recently with the bitcoin cryptocurrency mania (via Initial Coin Offerings).

Because IPOs usually tick up on first day closings, it makes total sense why so many want in — it’s a quick way to make an easy buck! However, due to the natural laws of supply and demand, interest in these new issues almost always outstrip the quantity made available, and therefore only insiders, well-connected bigwigs, and the very wealthy are usually the only ones who are granted access. Nepotism and cronyism at its undemocratic finest.

For generations the general public has had little access to IPOs. There was a brief moment in time when Wit Capital, an internet startup of the 90s, briefly unlocked this secret world, but it was short-lived.

Questrade became one of the new Canadian trailblazers to usher in a sledgehammer back into this world for the masses by introducing their IPO Centre. This centre is a very welcome sight and seems well positioned to grow into something incredibly special.

Questrade IPO Centre - List

Type of Offerings

The Questrade IPO Centre showcases newly available issues of Canadian equity, fixed income, and structured notes. For historic reasons, they also give access to a detailed back catalog of previous offerings. Each IPO’s respective fact sheet, investor summary, terms, preliminary and final prospectuses are also readily available.

Although the IPO Centre mostly has Canadian offerings, U.S. IPOs do show up from time-to-time as well. Due to Canadian security regulations though, U.S. and other foreign-based companies must file their prospectuses in each province individually in order to be sold to residents of that particular province. Since many companies in the United States may feel that doing an IPO in Canada could be an added expense (e.g., listing fees, legal fees, French language requirements), and that domestic demand in the U.S. is already strong enough to satisfy the capital they’re seeking to raise, it’s only logical that most offerings you see listed in the centre are Canadian by nature.

Fun fact: TSX has a very large mining focus. This is because many international mining/resource companies file a prospectus, raise money, and choose to be listed here in Canada.

Registered accounts (e.g., RRSP, TFSA) are also eligible to hold the vast majority of IPOs and treasury offerings. Some IPOs, however, may not be eligible due to their company/offering structure and how widely held it is.

My only complaint is that the number of IPOs to select from isn’t as bountiful as I would prefer it to be. I am not sure if this is due to the unseen battle that they surely must have with underwriters to be granted access to new filings, or if their staff is just being lethargic in pursuing more pickings.

How To Take Part

The IPO Centre is reachable on your desktop/laptop , smartphone, and tablet. When you see an IPO or other new issue you like, it’s a simple click/tap of the Buy button found next to that offering. Alternatively, you can call their trade desk to put in a request. All IPO and secondary offering purchases are commission free.

Questrade IPO Centre - Order

Once your order has been placed, this is referred to as an “expression of interest”. An expression of interest makes Questrade aware you are putting in a commitment to buy a number of shares. This does not guarantee, though, that you will actually get any or all of the shares you’ve requested.

When placing an expression of interest on their website, the trade desk contacts you to confirm the order within an hour. In rare cases I found it took up to 24 hours.

There is a $5,000 minimum requested amount for submitting an IPO order. Some companies going public may even ask for an amount over and above this, but the majority of the time it won’t be above the $5,000 Questrade minimum. Once the order is confirmed, Questrade passes along your interest to the offering’s underwriter.

For instant notification of newly announced IPOs and secondary issues, I recommend subscribing to their mailing list known as the IPO Bulletin. Surprisingly, I found that notifications arrived roughly thirty minutes sooner than the time it took for new issues to appear on the centre’s front page. That revelation can potentially lead to unique first access opportunities. Nice!

Canceling a request can be made within two business days (this may vary depending on the province) of receiving, or deemed receipt of, a prospectus and any related amendments (found at the online centre).

Processing Time & Distribution

Processing time for orders can vary but usually it takes around three weeks from when the underwriters first launch the IPO and when the offering closes. Times can be shorter when dealing with some secondary offerings and preferred treasury shares. Once allocations from the underwriter are received, Questrade informs customers via email or phone.

Allocations, however, may be distributed on a pro-rata basis if an IPO is oversubscribed (the number of shares requested by all interested parties is greater than what Questrade received), and so, as mentioned earlier, your original request amount may not necessarily materialize to what you actually get. For example, if Questrade receives a 50% allocation on their total order amount, they would then allocate only 50% to your original order request.

Customer Service

Customer services are the make or break for practically every company, irrespective of the industry they’re in. If customers have an issue, be it executing a hanging order, a problem with account management, or just to get in touch to have someone walk them through a task, it’s critical that customer service be attentive, knowledgeable, and understanding. You can have all the best technology and intuitive user experience in place, but if you lack basic customer service support, you’re company is doomed.

Now let’s delve into Questrade’s customer service experience so I can give you my impression on their online and offline (i.e., telephone) efficacy.

Most people will likely prefer to communicate with Questrade through online means. As such, you have a few options: Email, and Live Help real-time chat.

Email response times were relatively quick. I sent four different emails regarding four distinctly different issues, and their reply times varied between one hour and eighteen hours. That’s pretty good. Their response content was very good as well. Nothing was canned, which is common when dealing with other companies over email.

As for the online chat feature, while putting this review together I noticed that Questrade had repeatedly repositioned their live help’s green Chat button. I figure it’s probably because they are still finalizing on the best placement for it. But nonetheless, their chat button tends to be conveniently a fixed overlay on the bottom-right corner of most pages. It’s operational from Monday to Friday (excluding holidays) from 8:00am – 8:00pm ET. When clicked it brings up a pop-up window.

Customer Service - Live Help Window

After speaking with several online representatives — those who deal with potential new accounts and others who deal with existing accounts — I found them to be very well-informed, professional, and quick in their responses. They also took the extra time to provide external web links (those found outside the Questrade domain) for further reading which was a nice bonus. If the chat feature is unavailable (e.g., weekends, holidays, or outside service hours) you’re still able to leave a detailed message. When I tried this, I did receive a decent response when a representative returned.

For customer support over the phone, they are available Monday to Friday, 7:30am – 8:00pm ET. For forex trading, they are open much longer, including Sundays. When I did phone in, I found that they support English, French, and Mandarin languages. Coincidentally, being trilingual I was able to speak to representatives in all three languages. Hold times varied based on what I was calling about. During midday on a workweek I found the wait time for a new customer to be about one minute. When calling in as an existing customer, the wait time was much shorter. This may be coincidental, but I also found that using their live help was much quicker than calling into their offices. Overall, speaking over the phone with their different departments was a very relaxing and helpful experience. They know their stuff! And not once did I feel they were rushing to get the conversation ended quickly. It felt like I actually mattered.

App Hub

Questrade has partnered with several financial service providers to help enhance your investment experience through third-party apps. Types of partner apps include trading platforms, stock pickers, performance recorders, statistics analyzers, portfolio monitors, etc. Once you grant permission to an app, it can access your account details (personal information is still kept private), retrieve market data, and assist you with placing trades through your Questrade brokerage account.

App Hub

Granting permission to a third-party app is as simple as finding an app of interest within the App Hub library, clicking the Add to My Apps button, generating a special (and necessary) authorization token, downloading the associating partner’s app (and/or signing up for an account via their website), and then inputing your generated authorization token within the app.

The only apps authorized by Questrade are the ones listed in their library. If a third-party app is not listed there, then that specific app will not have access to your account. In other words, you cannot arbitrarily generate a generic authorization token for an unauthorized app.

Interestingly, you can create and register your own app and become a partner with Questrade. I will discuss this in more detail under the Developer Platform section of this review.

One strange quirk I did find, when you add a partner app it became difficult, if not impossible, to return to the App Hub library at a later time to add another app. Why Questrade didn’t add a navigable link back to the library on the My Apps page — if you’ve already added at least one app — is beyond me. Either this is an oversight, or a bug. I’ve reported this problem to them. Hopefully they fix it soon because the only way I could figure out how to return to the App Hub library was to remove all my apps. That’s very inconvenient. By the time you read this review it will probably already be fixed.

Beyond that little issue it was really fun and quite advantageous to have access to so many third-party apps.

Security

Questrade’s security measures have improved dramatically over the years. They use an impressive 256-bit SSL class 3 extended validation for both logging in and trading. Extra security during the login process can be provided by enabling two-factor authentication. For those unfamiliar, two-factor authentication is an additional security layer which requires not just a username and password, but you must also use another device that you currently have in your possession — typically a phone — to input a special code shown on that device during the login process.

Questrade has an online security guarantee which insures investors against unauthorized transactions which result in a direct loss. This security guarantee, however, doesn’t extend to intruders breaching accounts on your end (i.e., browser vulnerability, PC/Mac infection). In other words, if there is fraudulent activity and it’s proven to be due to the negligence of Questrade they are in a position to cover your loss at 100%.

They are a CIPF (Canadian Investor Protection Fund) member, and so all Canadian investors are covered up to $1,000,000. They are also members of the IIROC (Investment Industry Regulatory Organization of Canada). For claims that exceed $1,000,000, Questrade offers extended private insurance up to $10 million. You will need to contact them directly by phone for more details in getting this extension set up correctly.

Other noteworthy features: When joining, you must provide at least two security questions and answers — one of which gets asked when you attempt to log into your account from an unrecognized device. Once signed into your account your last login information is prominently displayed at the top-right corner with the date, time, device used, browser user agent, and the operating system of who last accessed your account.

And lastly, a special appreciation goes out to the ability to set up a personal identification number (PIN) from your customer profile page. This PIN is optional, but is used to make it quicker to identify you when phoning in. You still have to provide other information about yourself when speaking to a representative, but the verification process is much quicker. I found this very handy, especially because I had to call in several times to better review their customer service.

Developer Platform

Developers interested in writing their own applications or using tools from other third-party vendors can rejoice because Questrade has their own application programming interface (API). It’s free to use and can execute, modify, and cancel stock & option orders on Canadian and U.S. exchanges; retrieve balances, and positions as far back as sixteen months; and fetch delayed and real-time market data. Their SDK with sample code is available for download in C++ and C#.

Questrade API - Create Your Own App

After a quick glance over Questrade’s very clean online API operations documentation, within ten minutes I had created my first, fully functional application in Microsoft Visual Studio C#. It’s very easy to make an app! I also love how they give access to a practice server for testing applications on. And once I had fixed all my bugs, I then was able to switch over to the live server. Very smart!

Questrade API - Coding An App in C#

Questrade implements Representational State Transfer (REST) for reading and writing data, and the OAuth 2.0 authorization framework for their security protocol. Everything communicates through HTTPS only. The great thing about using REST and OAuth is that development time is significantly reduced, as was evident by the time it took for me to make my first app, because they are widely used, simple to understand, standards for a lot of online development.

I noticed there is an option to partner with Questrade so that your application can extend beyond your app’s library, and be made available to every Questrade customer. I did not test this feature because my application was just a simple proof-of-concept for this review, but I did speak with a technician who told me that there is no cost when partnering. Your application goes through a thorough quality assurance review, and if they feel your app will enhance their customers’ experiences, they will happily add it into the App Hub. Please note, though, if you develop a trading platform where your users make trades within your app on the live server, then your users will still get charged the same commission fees that they would have paid if they were using one of Questrade’s standard trading platforms.

Conclusion

Questrade

My journey through the expansive financial world carved out by Questrade was a very enjoyable one. Although their list of achievements include free ETFs, very mature trading platforms, quality customer service, IPOs, and a comprehensive developer platform, their most impressive feature has to go to being able to execute trades as low as 1¢ per share (1¢ minimum for active traders; $4.95 minimum for non-active traders).

It has been decades now and Questrade continues to carry the honour of being Canada’s lowest cost discount brokerage company. Questrade’s low commission rate is so good it serves as an enticer to make more trades more often and not have to hesitate by attempting to time the market in hopes of lowering commission costs.

In MoneySense’s Canada’s Best Online Brokerages article, Questrade was top ranked as the best in terms of lowest fees and lowest commissions. They also received honourable mentions as the best in ease of use and overall independent broker.

I can’t think of anything negative to point out about this company. It’s very clear they want to be in this industry and stay as the market leader in Canada. When speaking to several of their representatives online and over the phone you could feel a strong sense of pride in their written words and spoken tone. There is clearly a strong and positive ecosystem in their workplace environment. The staff seem exceptionally knowledgeable when assisting, providing a fulfilling experience. This is a far cry from my past dealings with other brokerages and banks.

For most of my stock trading life I had been connected at the hip with my local bank. This was before I became more enlightened with better options that were out there. I’m sure this is the case for most people. Many of us usually get our first investment accounts at big banks (e.g., BMO InvestorLine, Scotia iTrade, RBC Direct Investing, TD Direct Investing) because of the ease to do so — we have our savings and chequing accounts with them already so it’s just logical to open a trading account there as well. Such conveniences, however, bring with it abuses by these banks onto their customers. And so it wasn’t until I became completely disillusioned by my bank’s high fees and endless shenanigans that I felt it was time to explore other financial outlets. And hence, here we are today and why I felt this ultimate Questrade review was a necessary obligation to write.

Should you join? Yes — a resounding YES! For someone like me, as a casual trader, who has experienced headaches with banks and other brokerage firms, it’s nice to finally find a good home at Questrade who doesn’t play games, nor charge exorbitant fees. Questrade fits my needs perfectly and helps unlock my potential as a growing investor.

Now I’d love to hear your opinion on Questrade. Leave a reply below, share this review, and rate them using the ratings gauge found at the very top of this page.  Google Profile

Questrade Review
Editor Rating: 90% out of 100
Readers Rating: 94% out of 100 (2226 votes)
“Questrade Review” written by Emma Li
Updated:

Frequently Asked Questions (FAQ)

This review has been updated many times over the years and, during such time, many questions have been asked by my readers in the comments section. For your convenience, I have compiled the most asked questions, with their corresponding answers, below.

Why Questrade?

  1. Lowest commission cost per equity trade in Canada.
  2. Commission-free ETF trades.
  3. No annual fees.
  4. Free $50 when using Questrade offer code: Canada
  5. Questrade will cover the transfer-out fee when moving your brokerage account to them.
  6. Full-featured tools and trading platforms available on all devices.
  7. Very responsive customer service. Even when using live online help.
  8. Hold dual-currency (CAD and USD) simultaneously within registered accounts (e.g., RRSP) without automatic conversions, nor fees.

Is Questrade good?

Yes! Questrade offers a remarkably rich tapestry of features well tailored for new investors and seasoned traders. They also have the lowest costs of any other brokerage house in Canada, by far. Over the years, they have routinely demonstrated their hypercompetitiveness in this crowded industry by endlessly releasing new products, updates, and exploring untapped avenues (e.g., IPOs).

Where can I get the Questrade offer code?

To get $50 free from Questrade, simply type the following Offer Code: Canada into the Offer Code input box during the sign-up process.

What is the best way to convert CAD/USD?

To elminate currency exchange fees almost entirely when converting CAD/USD, you will want to use Norbert’s Gambit. To do this, you will use tickers: DLR.TO and DLR.U.TO. The former deals in CAD currency, the latter in USD currency.

To convert from CAD to USD:

  1. Buy shares of DLR.TO (currency will be in CAD) in the amount that you want to convert into USD cash.
  2. Get ahold of a Questrade rep via live help chat or on the phone.
  3. Tell the rep that you want to journal over all of your newly acquired DLR.TO shares to its USD equivalent side (i.e., DLR.U.TO). Your shares will now shift from DLR.TO to DLR.U.TO and be in USD currency.
  4. Sell all of your DLR.U.TO shares. You will now have USD cash.

To convert from USD to CAD:

  1. Buy shares of DLR.U.TO (currency will be in USD) in the amount that you want to convert into CAD cash.
  2. Get ahold of a Questrade rep via live help chat or on the phone.
  3. Tell the rep that you want to journal over all of your newly acquired DLR.U.TO shares to its CAD equivalent side (i.e., DLR.TO). Your shares will now shift from DLR.U.TO to DLR.TO and be in CAD currency.
  4. Sell all of your DLR.TO shares. You will now have CAD cash.

The entire process can take up to 1-2 business days to complete. The full details of your conversion is recorded under myQuestrade’s Account Activity page.

Can I short sell?

Yes, you can short stocks in margin accounts. Registered accounts (e.g., RRSP), however, cannot short because of Canadian government regulations.

Do their platforms support Mac/Linux?

Yes, their trading platforms are available for Mac and Linux users. Questrade’s trading platforms are also available for Windows, iOS, and Android devices. For Linux users, Trading with Questrade, their responsive HTML browser-based web application, is what’s used.

My bank doesn’t accept Questrade account #s

Most people will fund their Questrade accounts through their bank’s bill payment method. However, some banks still impose an eight character limit. You can get around this problem by using just the first eight digits of your ten digit Questrade account #.

How do I get trading reports before 2011?

If you have been a Questrade member before 2011, then you may have already discovered that their Trade Confirmations database, which claims to carry your trading details dating back to January 1st, 2009, in fact only rolls back to February 4th, 2011. Sadly, you may no longer have access to these older trading reports because Penson, Questrade’s old clearinghouse partner, who stockpiled these much older reports, has now shut its doors for good. When speaking with Questrade’s representatives, I got inconsistent answers on whether they still have these very old reports or not.

How do I stop paper-mailed investor documents?

Initially, shareholder communications (i.e., voting requests, annual meeting summaries, financial reports) are sent as paper mail to your physical address. For those who wish to save the environment by saving a few trees you can alternatively opt to receive these correspondence documents through electronic mail instead. A convenient free service called InvestorDelivery exists where you can set up to receive all of your investor correspondence electronically. InvestorDelivery requires a special ID that is stamped in the header region of each of your paper documents. So you’ll have to wait and receive a paper document of a security you own before you can switch over to its electronic alternative.

How do I avoid paying ECN Fees?

ECN fees are fees enforced onto Questrade by an external network that charges you for making a transaction which removes liquidity from the market (i.e., buying at the ask or selling at the bid). Questrade doesn’t make any money from ECN fees; they simply pass this collected fee to the designated network to execute your order. Although these fees translate to mere pennies, one can avoid paying them altogether by executing transactions as a limit (or stop) order at the bid/ask instead of as a market order request. For U.S. stocks you can also send orders to non-direct access ECN networks (i.e., LAMP, MNGD, or POST) to avoid these fees completely.

How do I avoid mutual fund trailer fees?

Questrade will rebate mutual fund trailer fees. They call this their Mutual Fund Maximizer. Trailer fees are commissions by fund management companies paid to brokerage houses for being the retailer that sold you your fund(s). This commission is an ongoing source of revenue for brokerages as long as you keep holding onto those fund(s). You don’t see this fee because it’s part of the MER of the fund. So, Questrade is willing to rebate this fee back to you every quarter. But there’s a catch. You need a minimum of $36,000 in mutual fund holdings to be eligible for this rebate. The reasoning is simple: There is a processing fee of $29.95/month. So, the rebates will start paying back if your mutual fund holdings is worth more than $36,000 (based on a 1% trailer fee).

What is the interest rate when buying on margin?

Most people will sign up for the standard margin account, which gives you access to borrow funds at an amount more than your current cash balance. This extended buying power ability is very useful and can come in handy when you need to jump on market opportunities. Assuming you’ve bought on margin and haven’t settled your stocks after three days of the purchase, the margin interest rate can be as low as prime + 2.5%, which is in-line with most brokerages.

What is Margin Power?

Margin Power is a free service by Questrade that allows you to link your existing TFSA account (held at Questrade) to your margin account. Doing so increases your buying power within your margin account by leveraging the assets you already own inside your TFSA, making it enormously convenient to enter new positions without requiring a transfer of new cash or selling existing securities.

How do I register for a DRIP?

A dividend reinvestment plan (DRIP), which is also known as a direct purchase plan (DPP), allows you to reinvest your stock’s dividend income automatically into the purchase of additional shares of that security without paying any trading commissions. To register for a DRIP, log into your Questrade account, navigate to Account Management > Find Forms, and download & fill out the one page PDF file: Dividend Reinvestment Plan (DRIP) Authorization. You’d then use Upload Documents to send your signed form to Questrade. It takes up-to 24 hours to process your request. If you ever sell off your security entirely, your DRIP will be canceled.

Latest Questrade News

Because this Questrade review is determined to continue to be the most comprehensive and most up-to-date resource you will find anywhere, we’re listening to our readers once again and have created this section to compile the latest news and events regarding Questrade.

Questrade has lowered their minimum funding requirement for their Managed Investment (Portfolio IQ) accounts from $2,000 to $1,000. For those who haven’t perused the Managed Investing section, this is a big deal because although you only need $1 to open this type of account, you need to reach the minimum threshold before they begin to actively manage your investments. It’s a good move.

For individuals who are considering or are currently using Questrade’s freely available developer API, as of May 7, 2018, the IIROC Canadian requirements are tightening up with some changes. The most important change of note is that Questrade will effectively no longer be allowed to place an order entry by non-licensed individuals made through API requests. Fortunately, this does not affect order entries made by third-party applications (from licensed businesses) found in their App Hub.

Deloitte has just announced that Questrade has been awarded with the designation of one of Canada’s Best Managed Companies. This is now Questrade’s seventh time earning this distinction in a row, putting them into the rare Platinum Club of companies. For those unfamiliar, Deloitte is one of the big four accounting firms in the world. They started the “Best Managed Companies” award 25 years ago to highlight the best Canadian businesses.

For anyone holding an Exempt Market Product (EMP), starting on June 1, 2018, a fee will be assessed for the quarter in which you first acquired that EMP. Considering how most of you probably don’t even know what an EMP is, be assured that only a very tiny number of investors will be affected by this news. Unfortunately, at the time of this writing Questrade was unable to tell me definitively what the amount would be.

On April 23 Questrade may begin to charge you for holding selected securities short in your account. If you are currently short-selling, they advise logging into your trading platform, head over to Positions, and hover over the R icon to see the fee. If you don’t want to pay this fee then you need to cover your short positions by 5:30 EDT on Monday, April 23.

IQ Edge and Questrade Trading have been updated to improve the automated short-selling process. You no longer need to manually confirm borrow rates. And confirmations can now be done within the trading platform. Prior to entering a short position, you’ll receive an on-screen message showing the cost per day to borrow a security, if applicable, alongside your order confirmation. Once you accept, your order is sent to the exchange and your short position will be charged for each full day you hold it. Note: There is no fee for Intraday shorting if you close your short positions before 5:30pm ET.

Questrade did a major redesign overhaul of their homepage. The new design has a more efficient streamlined look, which better exposes important resources upfront. For example, communication resources like chat is now found on every page, as an overlay, at the bottom-right corner. This new design is also more responsive than the previous and thus, works more fluidly across different devices like phones and tablets.

Replies to this Review

  1. Reece R. says:

    LOL, i’ve been using your questrade review to pass to a bunch of my friends on facebook because we are looking to pool together and start investing.

  2. Yoel B says:

    Nice touch in the signing method during the Questrade new member join process. My concern was the length of time to join when i see a great buy opportunity.

  3. Nevada D. says:

    @jaq, your English is quite good. Actually better than several friends that only know English ;P . I had wondered the same briefly but Questrade seems to be getting better. Correspondence, like annual reports, and emails will actually be in your preferred language. Their trading platforms though (e.g. IQ Edge) is still all English though.

  4. LaMarcus H says:

    That’s good to see Questrade keeps their help desk (online help) open so late each day. I found this questrade review yesterday and wanted to see about some things and sure enough the link here made me get a hold of Questrade right away.

  5. Landon says:

    Actually Questrade’s been here for a long time. I remember when they first appeared the market was rife with overpriced, undervalued brokers out there like TD. Questrade wasn’t perfect then and had a ton of problems and I avoided them big time but it sounds like they’ve improved dramatically so i might give a cautious looksey. The questrade offer code will be a good way to find out for me.

  6. Jaq. says:

    Although i speak English quite well i wish Questrade would have a truly bilingual experience on their site because i notice it is a hit/miss issue. Well, i guess i just have to get more serious with my English studies.

  7. Frederick B. says:

    It’s really a shame that US IPO’s are not offered in Canada. I am sure there are some mutual funds here that may get some of these ipos but for the most part we are SOL.

  8. Mason says:

    Any way you cut it making trades at $4.95 is pretty amazing! I plan on joining Questrade in a few days and have bookmarked this questrade review to pass it along to my two brothers.

  9. Greggory Dycus says:

    Nice touch in allowing one to opt out of those useless ads we get in the mail from the investment houses. Thanks for pointing that out in your review.

  10. Jadyn F. says:

    Yay for me i was hunting for a questrade promo code (offer code?). Gracious!

  11. Dontae S says:

    And here i always thought TFSA accounts were only for savings. Nice to see it can be used for actual investing too. I will have to wait until following year before i can have enough contribution room though.

  12. Groove Girl! says:

    Success! I had been having problems trying to make the link between my bank and Questrade seeing as how Questrade account numbers are 10 digits long and my bank only allows up to 8 characters.

    This Questrade Review is the ONLY place i could find that discusses a resolution to this. THANK YOU! I am a happy girl again!

  13. Brice Glogowski says:

    I think i am becoming a grandpa on the internet because Questrade’s been around since 1999? How the time flies! I actually remember what i did on New Years Eye 1999.

  14. Drew says:

    Questrade’s democratic pricing is a very good idea. So good i am surprised not a single discount brokerage house has adopted the same practice here in Canada. It must be really tough to implement or something.

  15. Brett says:

    I love your Google Profile. You’re really pretty and great job on this Questrade Review!

  16. Sister4chin says:

    Thank you for the questrade offer code! I need to make a lot of trades quick!

  17. Cornelius Agens says:

    So i could open an account with Questrade, use their online signature process, and electronic payment to fund the account all during the sign up? That’s pretty good. I guess you can’t get faster than that. So its merely the wait time for the electronic transfer of the funds to reach the account until i can begin trading. Good read!

  18. Hadley says:

    Unless you are an active trader it’s more appropriate to stick with Questrade Trading. Active traders probably would be better at home using IQ Edge.

  19. Sabastian says:

    The screenshots above in this questrade review is invaluable. If i am ever going to join Questrade i need to see as many screen captures of what it looks like to be a member.

    Their formatting of things so far don’t look intimidating and actually looks quite inviting.

    Questrade you just might get me to sign up.

  20. Brenton Buckalew says:

    Allowing for USD currency in registered accounts is very appealing to me. I think i may give Questrade a try after i speak with my friend.

  21. DeMonte says:

    Ok i just came here to grab the questrade offer code promo thingy because i want to get the $50 in free trades. lol. I didn’t actually read this questrade review at all. sorry. I know i should but i’ve heard good things about questrade and so i trust you.

  22. Beckett says:

    That’s good to know they keep a file of past tax records. With RBC they don’t do this online. You have to call in and request it.

  23. Nikolai says:

    This is a pretty good Questrade Review. I just came from a few other places and their discussion was merely a cut-and-paste effort so i didn’t get anything out of their review. Here i am actually learning the inner workings of Questrade. So again, thank you very much!

  24. Fruster! says:

    Hey crazy8 thanks for the input. It’s funny because i am in the same boat. The other day i decided to see how much i’ve saved over the last 2.5 years i’ve been with Questrade and so far in commissions (vs my now defunct eTrade account) i’ve saved about $995. That’s right nearly $1,000 i can use now for other things and not layering the pockets of some rich ceo for his new yacht.

  25. Timmy says:

    @ghost yes you are right that many decide to stick with their banks and the reason is simply because of convenience. Think of it like your cable or phone bill. There will always be the adventurous few who will look to cheaper savings elsewhere but for the majority they want convenience of 1-bill/1-location for all their banking needs. So having their personal bank accounts attached to an investment account is very handy to most.

    There is also 24/7 investment advice. Yes they will pay more but for many people who are new to investing this tends to be a need.

  26. Craig says:

    Oh my! I actually have a Questrade account all the way back since 2003 but after reading this Questrade Review i only just found out they changed their account #s to 10 digits. Yikes! I havent used my account for so long i guess it doesnt affect me but i will go update my external banks to the change.

    Come to think about it i might begin trading again.

  27. Petey N. says:

    Ok i spoke with Questrade through their live chat feature and i can say they were very quick and knowledgable. I was always hesitant to join Questrade because of fear that i wouldn’t get help either by phone or online and so seeing as how they are consistently able to be there when i need them i think i will give them a try. Thanks for the questrade offer code. I will definitely use it when i do join in the future.

  28. Ghost48 says:

    Can someone explain to me why Questrade is still the only broker to offer anything remotely competitive in the trading department?

    Yes, i understand the banks like TD and CIBC have no incentive because they have a treasure trove of in-house customers for personal accounts which many are likely to add an investment account with very little prodding. But still, how can people willingly decide to be legally raped of their own money when Questrade offers the exact service for a fraction the charge?

    Crazy world.

  29. MeTrader says:

    For those wondering, Questrade indeed appears to be the lowest-cost discount broker in all of Canada. It seems if you are a low or moderate trader then Questrade is the best option, but if you become a heavy trader then either Questrade or Interactive Brokers is the next favourite.

    For me i’ve gone Questrade and as i become more and more active they’ve been pretty accommodating.

  30. Gauge C says:

    It was the crazy administration fees that drove me away from TD Direct Investing. So i thank you for this Questrade Review in opening my eyes to someone else who won’t steal my money.

  31. Raheem P. says:

    I’m starting to become obsessed with owning gold. This economy is not getting any better and although this is Canada and I live in Alberta where things are relatively better than the rest of the country I think we are merely in the eye of what is likely going to be a crazy economic storm.

    From the talkback it seems Questrade may be worth trying. Is there anyone on here who not only has a Questrade account but has bought/sold gold bullion? How was the experience?

  32. Girl_on_a_Ledge says:

    Success! Finally a questrade promotional offer code i can use. Was looking for something to get me motivated to join Questrade! Thank you!

  33. Gareth G. says:

    Oh the nostalgia of internet IPOs. Wow i cant believe this review remembers Wit Capital! Anyone else here remember them? Yea, they were one of the first online sites to offer IPOs to the regular folk and not just for mutual funds?

    If i recall Questrade and some other Canadian brokers only offer ipo’s of Canadian companies. Every once in a while though they will offer a few shares from a loaded mutual fund that does include some internet startup. But that is very rare.

  34. Maxim Buckingham says:

    I’m a recent resident of Canada (US citizen) and thank god for this Questrade Review! My original broker is located in the states and i dont mind still trading with them but i notice the exchange rate from CAD to USD is a little much.

    This Questrade seems like a good choice so i might join them soon.

  35. Austyn B. says:

    I wish Questrade would expand their IPO offerings to include US internet IPOs. That would be sweet!

  36. Steve says:

    Just saying HEY from Nova Scotia! My partner and I want to say thank you for writing this. It’s helped us in deciding where we should be making investments through based on our habits and lifestyle.

    We were having a hard time deciding which trade firm to go with but after reading this we decided to go with Questrade. And thank you for the $50 offer code.

  37. Jack P says:

    It’s funny that there is always a new discount broker popping into the scene and yet not a single one can offer a descent trading rate without first having an underlying catch. I had been searching what seems like forever for a broker that didn’t gouge me of my money and so this questrade review might be my savior.

  38. Brayan says:

    Just noticed questrade offers free trade seminars. That is my big concern. I get overwhelmed easily by the whole stock trading thing and its nice to have a place to learn it all but not lose my shirt in the process since the rates are very cheap @ $4.95.

    And thanks for the questrade offer code and this review.

  39. Augustus says:

    Uploading documents from within the account is a great idea. I use to be a member of Questrade 7 years back and it was truly annoying to have to mail in stuff and find weeks later they never received it. My fear at the time was if they didnt get it then who got my personal information. With this new feature i can be assured that only Questrade got my pertinents.

  40. Akash Platt-Metford says:

    Love them or hate them Questrade has had an invaluable impact on the world of Discount Broker Trading. Without them we would all be paying through the nose in commissions.

  41. Richard G. says:

    Questrade just might be my golden egg i was looking for. No other discount broker seemed to fit what i was looking for as a small trader. This questrade review might have pinpointed what i am looking for. Thanks!

  42. Mikala Fialkowski says:

    Hi Holly. Yes you can transfer rrsps to investment accounts at discount brokers like Questrade. Each broker has their methods to do so, so i suggest you hunt around Questrade’s site to find the details. Or better still just use their live chat feature. They are open late hours.

  43. Martin Hayes says:

    @luimei the questrade offer code only applies to trading accounts (margins, registered, etc). Anything that involves equity trading. It also works for Managed investing. I might be wrong but that is what ive heard.

  44. Lui Mei says:

    Anyone know if the questrade promotion code works for forex accounts too? I haven’t tried but it would be nice. Not sure how it would work though since i dont think it relates?!? I’m new to trading.

  45. Holly Merkal says:

    Am i able to transfer my existing RRSP account to Questrade or am i stuck with BMO Invest? 🙁

  46. Fl2t says:

    Became a new member of Questrade thanks to this Questrade Review and wanted to come back and say thanks for everything!

  47. Reegan says:

    I actually find their chat a little slow. It took me about 20 mins before i got ahold of someone. Maybe i was a bit unlucky. Questrade should really improve the wait times online. But then maybe i should have called instead.

  48. Tysen Kendrick says:

    What would be cool is if Questrade had an ability to output the transaction activity from within the Questrade Accounts into a variety of formats such as Excel, Word, etc.

    Are they going to be adding something like this any time soon?

  49. Vito says:

    This questrade review is so detailed i didn’t even have to go through the IQ/Trading videos on YT to understand their platform. Stunning completeness!

  50. Brunswick-ster says:

    Thumbs up on this questrade review from a fellow newbie trader here in New Brunswick! And thanks for the questrade offer code. I am a sucker for free stuff!

  51. Taurean Roller says:

    I’ve been with TD Direct Investing for the last 15 years. I’ve been itching to try something new so i may give Questrade a spin for a little while and see how things go before i consider making a big move to another home.

    Thank you very much for this review. It’s made things clearer for me.

  52. Jaylen W says:

    Wasn’t there someone here that was saying that Questrade had in the works about courses for forex traders? I dunno. I’m doing quite well right now and am totally new to this and i wonder if taking the courses will break habits and i start to lose.

  53. Milan Myrick says:

    Thank You for showing snapshots of what it is like to be a member of Questrade. Nothing more annoying in reviews than to just talk and not show anything. Your Questrade Review has made me a believer.

  54. Dyllan Brand says:

    Anyone know if Questrade has Forex trading classes? The comments mention they have free web seminar but it seems it is only about learning how to work their trading platforms but not Forex trading. 🙁

  55. Frez! says:

    Thanks for the questrade offer code! I needed it right now.

  56. Rylan Self says:

    Actually @charlie, there was a time in the distant past when questrade actually indeed had paper statements only and did charge $3 to issue them out. It was quite the lucrative business. You know, making money off just sending out paper statements..who cares about discount brokering 😛

  57. Stephen D says:

    Good Questrade Review! I hope you will do the same for Virtual Brokers and QTrade!

  58. Joan says:

    How times have changed. I remember the old days when i had to walk into my local discount broker’s office and have a long winded discussion about investments.

    Today, i can make quick trades online and watch the activity in real time.

  59. CharlieChapstix says:

    Questrade must by default make electronic statements the chosen option because why on earth would anyone want to receive paper statements and get charged $3 in the process. Questrade would get a lot of complaints if they had it as paper statements.

  60. Ellis Karsting says:

    Actually, @digger although it is your right to get at the gold in-hand most choose to have it stored at the Royal Canadian Mint. But it is your choice to have the physical gold shipped directly to you, at a fee of course.

    You’ll notice in this questrade review that the price of gold trades is $19.95 which is a steal in my opinion. I haven’t done gold before but this is one of the reasons my friend joined Questrade.

  61. GoldDigger says:

    I still can’t figure out how Gold is actually traded here. Do they actually send you the sparkly stuff or what?

  62. Jeremie Cave says:

    So can this Questrade Offer Code of $50 trade commission be applied to registered accounts (e.g. TFSA, RRSP), and better still can it be applied to separate accounts? Should be a great way to save. Thanks for this crazy detailed questrade review.

  63. Curt says:

    I’m still a bit indecisive about joining questrade. It does seem like a good thing to try. Will have to do some more soul searching before committing.

  64. Tobias says:

    Just signed up and thought it is a nice touch on the Agreement page it allows to decide on the type of security materials sent in the mail. I get way too much mail (mostly junk) and so limiting what i get reduces my chance of accidentally tossing out the critical stuff.

  65. Beverly V. says:

    It’s funny because i’ve been with a few other brokers such as Qtrade and iTrade and no matter what i do i still keep getting paper correspondence from the equity holdings. Thank you for bringing up the InvestorDelivery tidbit in this questrade review. For the life of my i couldn’t understand why no one could figure out how to just make it entirely electronic. Now i know how to do it!

  66. Uriel Singleton says:

    Questrade’s platform fees are pretty good! At least compared to some of the other discount brokers i’ve been with. I am likely going to join and get their real-time advanced quotes which for me is a real bargin.

  67. The_D says:

    Confirmed — the questrade offer code worked for me. $50 richer 🙂

  68. Sky Wooley says:

    Ahhh interesting note about the paper statements. Thanks for bringing that up in your review above. I guess i will make sure when i join that everything is electronic.

  69. Mchel M. says:

    For the fun of it i decided to try out the Chat session just now. Wow these Questrade folks are very fast! Your questrade review wasn’t kidding!

  70. FunnyHoney says:

    @dustin i believe you can HOWEVER your life will be made a whole lot easier if you were a resident in Canada. If you currently live in New York then i believe to join Questrade you may need to fill out your IRS W9 form. At least that is what i had to do when i wanted to join Apple’s developer site because i am Canadian.

    But if you already live in Canada then you just may only need to walk in to Questrade (located in Toronto) and present your ID in person. Normally, for Canadian citizens you only need to fill out documents online and mail/fax your details but since you are a US citizen things are a little bit more involved.

  71. Dustin says:

    Are US citizens allowed to join? Even in New York this is a pretty good deal.

  72. OWS says:

    Jaw dropping work you’ve got here for this questrade review. I’m reading it again for a second time and taking down written notes. Questrade’s just got itself a new member.

  73. Qinnnnn says:

    LOL, i just found my bank was not allowing me to add my Questrade account # through bill payments which made it difficult for me to fund my account opening. I just learned in this Questrade Review that i can drop the last 2 digits. That helps to know. I wish Questrade would make that clearer because i couldnt figure out what to do until i came here. Thanks very much. Now i can begin using up my $50 questrade offer code.

  74. LeafsFan4Life says:

    Their market research tools are descent. As a long time member their Market Intelligence tool use to be called Bulls Eye. It’s much more mature now. Bulls Eye use to be a bit pathetic when it first came out but over time its evolution into what it is today has made it a valuable research device that, at least for me, has been indispensable.

    It’s located in the members login page and offers a lot of financial reports, expert opinions, and real-time news. You can also jump to it while within Questrade Trading.

  75. Robbie F says:

    I remember their old QuestraderELITE being very intimidating. Hahahaha. Good riddance to that thing. But then i am just a buy-it-and-forget-about-it investor. So Trade (is that its real name?) and IQ Edge are great.

  76. Pedro Hutchins says:

    I’ve been a long time security hawk when it comes to my money and so i’ve seen pretty much every kind of security method that banks/brokers apply. Questrade is doing an acceptable job. Their security methods are perfectly fine.

    I appreciate your discussing Questrade’s security in this questrade review.

  77. Porter says:

    I’m actually glad Questrade is now using the Symantec SSL certificate for added security. This was not originally the case before.

  78. trade484 says:

    yes @alan it’ll work. I’ve opened a business account and used the very same questrade offer code shown above. You get $50 in free trades. I ended up using mine entirely in the 1st hour of my having access to trade. lol

  79. Alan Cohen says:

    Does the Questrade Promo Code work for sole proprietor accounts? I don’t see why not but i better make sure.

  80. Kesha says:

    Maybe i am missing something but their tools don’t look as extensive as i was hoping. But then maybe they are there but only those who are more experienced will find them useful.

    Oh i just started reading many of the comments here and someone below was talking about something called, generically, Market Research? Anyone us it?

  81. Lindy B says:

    It’s funny that when you think you’ve figured out things you learn something new the next day. This questrade review has given me some food for thought in possibly moving my portfolio over to them. I will have to mall this over some more.

    Regards.

  82. Joyce says:

    Actually QuestraderWEB didn’t need Java at the time. It was only used for the animating stock ticker found scrolling near the top of the screen.

    So you could turn off Java (or not install it at all) and everything would have still worked. And yea Trading with Questrade is a step forward.

  83. Nikhil C says:

    I remember QuestraderWeb. It used Java. Huh? Funny they didn’t use Flash from the start back then. Let’s hope both Java and Flash are dead and buried for any other web use.

  84. Dominick P. says:

    I love how clean and non-threatening Questrade’s member pages are in reference to the screen captures in this questrade review. It looks very inviting.

    I am just starting out in stock trades (still in college) and for me I want to get my feet wet but need a little hand-holding. Questrade might be the place for me.

  85. Jovani Krauhs says:

    Ok i think this questrade place is what i was looking for. Your questrade review is definitely complete. Makes things very clear to me. And thank you for the questrade offer code. I will strongly consider opening an account shortly.

  86. Olaf Garralrant says:

    You bring up an interesting point arod but i can give a good counterpoint to it. However it would be a waste of time since it wont matter. What i do find more comforting is that Questrade no longer emails in the open air your user name and password. That was not good. They’ve thankfully corrected that mistake.

  87. Tyrel says:

    I’ve never been with Questrade but after searching for possible alternatives that had all the things i wanted i have to give up and say i think Questrade may be the only best choice for me. I’m just glad this review makes things more clear for me in that i am doing the right thing.

  88. Raul Rasmussen says:

    As a newbie forex trader i just wanted to give my thanks to you for this questrade review seeing as how the information you’ve provided above has pretty much convinced me to join Questrade and give them a look-see!

  89. TheARod says:

    What confuses me is that although Questrade doesnt have the image security enhancement you see on other sites i dont understand how this makes ones site more secure. If one already has access to a compromised machine then this image wont make any difference at all. I think Questrade was right not to include it.

  90. Bryce O. says:

    A lot of undervalued stocks i’ve spotted. I think using something like that questrade offer code could be of use to me. Will have to open a Questrade account which i hope doesn’t take too long. I might give it ago. Nice job in putting together this questrade review.

  91. Keifer S says:

    So for the InvestorDelivery thing one can turn on/off the mail we get from companies? That would be good. I am not a Questrade member but i am hoping something like this works with my broker account because i am a bit of a green thumb and prefer to not get mail that ends up in the garbage.

  92. Waverley says:

    Wow Questrade’s old account activities page really has been reworked. Looks much better now. These member pictures in this questrade review really help.

  93. Blair says:

    @eric from what i’ve read the rates are yearly but Questrade calculates interest on borrowed balances daily; getting posted to the account the following month midway. Remember, interest is charged on borrowing on margin.

  94. Eric_Longly says:

    Anyone know how interest is calculated by Questrade? Is it done daily/monthly?

  95. Kim H says:

    I’ve been trading for nearly 23 years and pretty much i’ve dabbled in most areas including options, gold, funds, forex. You name it. One thing that interests me is IPO’s. I’ve been eyeing several new Canadian companies that are going public and so i just happened to find this questrade review and see that Questrade offers IPO’s at such a low price. I am so game.

    You put together an excellent objective review.

  96. Toby Robinson says:

    YAY finally found a questrade offer code to put on my application. Awesome questrade review. Keep up the good work!

  97. Dan says:

    Hi again @fiona. I forgot to mention you will also have to register online at Questrade that you plan on attending the seminar. The link is: Questrade Webinars and Seminars

    Hope that helps.

  98. Houston says:

    I dont know why my bank’s stock trading charges a fee for canceling an order. I was just speaking with a Questrade live chat person and they said they dont charge a fee for cancelling so that is good.

  99. Leroy Townsley says:

    The tutorials are very handy. This has to be the best questrade review i have ever read. Very complete.

  100. Dan says:

    Hi @fiona. They also have webinars, not just seminars. They primarily discuss their most popular trading platform: IQ.

    It’s done every Tuesdays @ 6pm, if i remember correctly. So if you plan on coming to Toronto then just remember that.

  101. Jaquan Rawson says:

    Oh great. I was thinking of going with interactive brokers until i found this questrade review. thanks a lot. now i dont know who i should go with. I do like the idea of no hidden fees. Hmm…not sure. I will keep this questrade promo code around and make my decision in the coming days. Thanks

  102. Jerri Orth says:

    LOL i feel old because i remember starting my first online trading account with eTrade way back in the mid-90s.

    When Questrade started they had some issues but they definitely have come a long way and are starting to grow on me. I may try them out in the future.

  103. Kole Lanning says:

    Nice heads up with the Chat link. I just used it now to talk to Questrade’s customer support. Very informative bunch. I’m impressed at how much this Questrade Review covers. I didn’t have to ask much since everything was covered already here.

  104. Alana Platukis says:

    Honestly, I didn’t know Questrade had Forex trading as well. Anyone else here into Forex trading?

  105. Fiona says:

    Anyone planning or has attended any of Questrade seminars?

    I actually live in Manitoba but was planning on visiting the toronto area where their learning centre is located.

  106. Wu2u says:

    Just started to open a Questrade account application online. So far i really like its ease of use. And also i like how i can save my current progress and return later. I wanted to have my husband take a look at my application and so the saving features works great.

    Thank you for this absolutely stunning Questrade Review. It has been a delight reading.

  107. Channing says:

    Wonderful Questrade Review! I haven’t read it all the way through but wanted to write a comment and praise it for its completeness. And the bonus questrade offer code helps too.

  108. Lochlan L. says:

    I was reading Questrade now offers a callback service so you dont have to wait for customer service. I’ve tried it and they do indeed call you back.

  109. Jaidyn says:

    I think adding a picture style security system is just overkill. What Questrade is doing now is pretty good.

  110. Darian says:

    You just might have the only questrade review that analyzes the site in its newest form and so completely. Big props to you all!

  111. Arman says:

    You’d think Questrade would have a way to fund your account via PayPal and not just through Wire transfer or EFT or cheque. Everyone has a PayPal account.

  112. Bruce R. says:

    That questrade offer code is going to get some good mileage from me. Thanks for this!

  113. Wade says:

    I hope you will write a more detailed review about Questrade Forex side as well. I know most people dont do Forex trading but it would still be cool to get as detailed a review on that part of their business.

  114. Alana says:

    I had to get my glasses to recheck what i was reading in this questrade review. They offer trades at $4.95? That’s incredible!

  115. Robby Kiernan says:

    I like the $4.95 minimum with a max of $9.95 limit. That is a smart and what i think a fairer way for trading. I’ve been a small time trader with TD for decades now and had always felt their fee of $29 (and even $45) was rediculous.

    I’m going to have a discussion with my partner and may proceed forward with Questrade.

  116. Saul C says:

    I like how Questrade is trying to make the entire experience as an online thing and moving more and more away from paper. You can see it all over in the pictures and things like having an Upload link, or the Confirmations page and stuff. I wonder if they are leaning more towards a younger generation of traders since they are more happy to shift over to electronic.

  117. Rickey says:

    I love your questrade review!

  118. Justen Gibson says:

    Thank you questrade promotional offer code! Was looking for a good reason to join. Now i have one.

  119. Morgan B. says:

    Well their conversion rate isnt that bad. At least its better than the big banks. I was concerned about converting from CAD-to-US and viceversa. I will think this over s’more before giving it a go.

  120. Casey K says:

    Actually @crusher, although QuestraderElite and QuestraderPro were indeed stand-alone desktop applications for Windows a long time ago and they are obviously no longer available and IQ Edge is the desktop successor. Thank god!

Show More Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Questrade Offer Code PromoQuestrade Offer Code Promo