Questrade Review
Investing Personal Finance

Questrade Review

Questrade is Canada’s largest and most popular online brokerage company as of May 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 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: 95% out of 100 (2216 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.

Replies to this Review

  1. Abram says:

    Thanks for the advice in this questrade review about using a limit order in cases. I dont think most people know about this trick that can be work at all discount brokers. Anyway, i am so impressed by the detail you’ve given to questrade i might just join to look around. Regards and a big hay from Vancouver!

  2. s@m says:

    I personally think not having a native 64-bit application for IQ Edge is not a big deal at all. 64-bit is overrated. Granted, i am no geek who looks to overclock every last unnoticeable performance out of everything i really dont think anyone will ever notice any kind of difference in speed terms between questrade’s current 32-bit release and any future 64-bit version. I am using a 64-bit firefox called waterfox and it has no speed performance gain over 32-bit firefox.

    And doing intense math calculations isnt going to be happening in questrade iq that requires 64-bit. At most having descent memory size like 8GB-10GB is all you need. Btw thanks for the questrade offer code. It was sweet..ended up joining.

  3. Steve Oh says:

    Just a friendly and helpful tip for anyone using IQ Edge. I was having issues getting it to run on my computer at home since it would only work on my office system.

    I found out that because i dont have administrator priviledes on my computer at home it wouldnt install properly. So the best way to get around this is to download Questrade’s ZIP IQ Edge version and run it as a stand alone. You can even put it on an flash memory or other external drive device. That way it doesnt try to install files that may need extra priviledges.

    One mistake i made was try to get the zip file in office and when i got home it didnt work still. I found out the zip file was set against our company profile. So to resolve this i had to email the zip file to myself from my office email to make it an acceptable attachment and the program then worked great.

  4. Man of the House says:

    I’m not a wealthy man but i know what i want and that is to see as much as of my money that i put into my investment account being used towards what is important to me which is my original investments.

    I was tired of being with RBC Bank because they kept charging me outlandish adminstration fees for everything. Even a fee for transfering funds between accounts held at the same bank. That is rediculous.

    So i applaud you here for writing a well meaning review on questrade. It’s something that i’ve taken to heart and have made my last trade at RBC.

  5. Jimmie says:

    A friend of mine sent me this Questrade Review from Twitter and thought i’d check it out. Holy cow! It has more information than i ever imagined. Had to give my thanks for the rad job!

  6. Diego Durrie says:

    You know i assumed that Questrade Mobile was for iPhone users only and was thinking not to bother considering these guys since i do a lot of my activity on my phone these days but by accident i came here and read it supports Android too. Huh? After some extra research just now i can see i was mistaken and yes indeed it is for my phone os. I guess they must have released it after i was originally looking around. I should have checked the Play store. Whoops!

  7. Emil Howard says:

    Just shared this questrade review on Google+. Was planning on just joining questrade based on my friend’s advice but figured i should read a review before i did. Glad i did. Now i have $50 questrade offer code :). Woohoo!

  8. Khari says:

    Thanks for the awesome review here. That Trading with Questrade platform got me intrigued i played with the practice account on my Mac. It’s pretty responsive and fast! I really like it!

    I wanted to have a spin with the broker before considering the option of being a member and everything i’ve read here and on their site looks very promising.

  9. Drummer Boy says:

    @devon121 if you are referring to questrade iq and its "Dark Theme" look as seen in the images in this questrade review then if you read closely the review points out that you can switch over to other themes which i would imagine is lighter, and possibly what you are looking for.

    From my experience most people prefer a darker theme because it puts more contrast emphasis on the numbers on screen. I certainly prefer the default dark appearance. Much better than their older platforms that is for sure.

  10. Tye R. says:

    Horray! Am using a new Mobile release. Was having problems with it on iPhone X. Seems to be fixed now since i am writing this comment here. The world is at peace again.

  11. BuddaRyme says:

    Hi everyone! Been a long time trader and recently joined this discount broker. Overall i am pleased with them. I was a bit disappointed briefly when i found out that IQ Edge doesnt currently support certain options strategies like trading spreads but after speaking to them online (thanks for the link to whoever gave it) they eased my concerns by saying that this more advanced type of trading was in the works and coming soon. So i wanted to share that with you all. Have a good day.

  12. KittKatz says:

    LOL, i can’t believe someone remembers Penson Financial. I use to be with questrade a long time back and so kudos to whoever wrote this questrade review in bringing back the memories. Good riddence to Penson. Questrade is much better without them. Wonderful review btw. I rejoined so i am already a questrade member but if i do find someone looking to start trading i will point them to this review in the future.

  13. Emil says:

    Will this questrade offer code for $50 in free trades work for someone who is 17 years old or must i be at least 18+? I am very interested in practicing with stocks and this seems good.

  14. Darryl Light says:

    Hey josh. Although Questrade allows US citizens to open accounts with them there might be some issues if you are a US resident. I get the impression you live in Canada so that wont be a problem.

    As for your question about registered accounts i believe they are solely for CRA-backed registered accounts. So in short: No, i don’t think 401Ks will work with this broker’s registered accounts. You can try their help desk to get more info though since i might be wrong.

  15. Josh says:

    Near the end of the year im planning on joining Questrade solely to open up a registered account for my RESP contributions since i have never contributed ever.

    I’m a dual citizenship holder (US Citizen too) and was thinking i should contribute to my 401K through this too. is that possible or are there registered accounts only for Canadian registered accounts?

  16. Tait Winick says:

    The most intriguing thing I learned reading this questrade review about questrade is the ability to simultaneously hold a Canadian and U.S. account.

    I’ve been trading for several years now with other providers and i have never seen this anywhere else and its quite shocking. I think others dont do it because lets face it they want to get a cut on the conversions each time.

    This alone can save a trader huge amounts of fees over the long term. Good job questrade.

  17. Stocks Bonds and the Love of Money says:

    @brian although i respect your logic I’ve use IQ and Trading and they’re very good. I’ve tried several other platforms via the app hub and mehh i just ended up going back to using Questrades instead

    If you use IQ long enough you will find you’ll never want to use any others. I should know i’ve been with these guys since they opened shop here in Canada.

  18. Tracy Teegerstrom says:

    I’m still paying about $35 per trade with TD. They have a plan for $7.95 but the catch is i have to make an ungodly amount of trades per month before i can even come close to getting a rebate back for 7.95 per trade so its pretty lousy.

    I will have to put more thought but questrade may be for me. I will hold onto this questrade coupon code or offer code or whatever its called for later. thnx

  19. Brians High-5 says:

    For me, the big draw is that I like that they were smart enough to include that App Hub so i can use alternative, externally available trading platforms instead of their own. Although they have good ones, i am just use to others and prefer to keep using them.

  20. DuoMuo says:

    I’m a returning visitor here to let you know my experience with Questrade now that i’ve been with them for a few months now.

    Awesome stuff! So this questrade review is spot on. So thanks from the both of us for finding us a great broker for our business.

    Cheers.

  21. Carmelo says:

    Thank god they stopped using Silverlight entirely. I despise Silverlight and Flash. I still use an old computer and every time i visit places that still use those plugins my fans start going nuts and my cpu is burning at 100%. Fuuu! So thank you!

  22. Sarah says:

    I still don’t know why there are some people who take a lead pipe to Questrade. From what i gather because their transaction costs are the lowest in Canada and from my experience they have pretty good customer support on the phone, online, in forums, and pretty good trade platforms for my computer and online i get the impression that these complainers are more whiners because they want more.

    I’ve been with Questrade for a few years and they’ve been perfect for me.

  23. Neal says:

    I am not sure its been said or maybe i missed it in this questrade review but it would be nice if there was an offline version to Questrade Account and/or Questrade IQ.

    Some of us have limited internet access and so it would be nice to do our work offline and when access is back online it sends the requests to perform (queued if you will).

  24. Kenneth Grey says:

    Ok it’s a very muckey day in my area of Canada and so i decided i should just come here, make some green tea, and start working my way through this thick questrade review. I’m enjoying it so far. I’ve never owned a stock trading account before so this might convince me to join questrade. Bonus points for the questrade offer code.

    Honestly, i just assumed to go with my local bank since it was an all-in-one thing. Never realized how bad an idea that potentially can be. Especially for new comers.

  25. Darrell S says:

    Hey @Nana thanx for the details on their platforms. I was scratching my head on all the different options. I will admit my eyes are still a bit glazed over on the reasonings for keeping mobile and the rest if Trading is around but at least you helped demystify the beast.

  26. Nana44 says:

    Just a heads up for everyone…

    The reviewer of this questrade article is spot on about Trading with Questrade. Was speaking to their CSR today to help decipher the difference between all their platforms and they indeed said it is a non-install web platform.

    From what i gather Trading is made specifically for tablets, PCs, Macs, and Linux users in mind. So there is no need for special plugins like Flash or Silverlight. It is a works-out-of-box thing.

    It’s also accessible through your mobile devices and adapts its size to the native display of that device.

    They admit that Silverlight (and Flash) were a misstep of the past. So in many respects Trading with Questrade (god, i hate this generic name they give it) may signal that everything will be shifting to just that in the future while present day Mobile and IQ Edge are just placeholders for the time being to allow the rest of the market to catch up.

    Trading is also available to be tested by anyone on their site.

  27. Quinn Voorheis says:

    I commend you guys in this questrade review in making note of several questrade historical descisions like their use of Pension or the use of 6-digit accounts. Although its the past it gives me a better idea of who they are as a company.

    It looks like they are getting more and more serious about quality output so i strongly am considering joining them now.

  28. Jon R says:

    I was using IQ Edge on my desktop via dual monitors and became a bit frustrated when my monitor when caput and couldnt get back the display on my original monitor and was directed here because it seems others was talking about IQ Edge too. And so thanks for thelp. I didn’t realize Windows had a settings feature to change the desktop layout that allowed me to fix my iq problem. Just had to write something to say thanks. That’s it.

  29. Lyle says:

    I’m here only for the questrade offer code. I need my $50. But i’ll read this questrade review when i have a chance some time whenever so thanks.

  30. CC-Factory says:

    Although I’ve obviously been using IQ Edge but maybe i am old and so stubborn or just a dummy but i just can’t get use to it. Yes i know its more advanced and offers more functionality than using their online platform and for new people edge will be a dream come true but i prefer to stick to more basic things.

    I think i will call customer service and get some pointers.

  31. Ronan Von Eye says:

    Will you guys be adding more details to the Mobile section of this questrade review? Mobile is obviously available and it will be nice to get even more in depth information about it and a mini review about it.

  32. Leigh says:

    Ok you hooked me. I will give questrade a try and see how things go. i need the extra cash and i guess after reading this review i now understand the underlying mechancis of fees that other brokerages may charge me compared to q. So thanks for this discussion it really helped make up my mind.

  33. Messiah C. says:

    Hey i really appreciate this review and the depth it goes into about them and their trading practices and history in the biz. I am not old enough to join yet (still 16) but wanted to get ahead of the curve and get my life in order.

    When i turn 18 i am getting a large trust in my name and i dont think saving it in my bank accout is the smartest thing but i also dont want to just toss it into the stock market and take my chances like playing the lottery or gambling. So these guys might be good fit.

  34. Jasen Steiman says:

    I still don’t fully understand the necessity of the Trading with Questrade platform. It’s mentioned in this questrade review. It seems like IQ Edge and Mobile cover it all. Am i missing something?

    A tablet is just a bigger screened mobile device and is why all mobile apps like Q’s Mobile app will work on their tablet cousins. So not sure how Trading fits in.

  35. Ollie says:

    Thank god Questrade eliminated the other trading platforms and went with these prettier more usable ones.

    My brother and i plan on both joining questrade next Wednesday. So thanks a million for this review on questrade. I assume that questrade promo code will work for each of us (two different accounts).

  36. Kari M says:

    Questrade seems like a descent place to park due to my limited needs but i guess there was some early trepedation i had towards them until i found this review. I spoke with their customer service to see if they actually responded in a timely manner on the phone and online and it worked out for me. I actually had heard some evil things about them about having lousy support but at least when i tried they were good. So i just wanted to share my thoughts from someone who has never held a stock trading account before but was perusing for a home.

  37. Yancey Limatolla says:

    Is their a French version of this Quesst Trade Review? Although i speak English well enough i am not well enough to comprehend parts. I can understand most and am pleased with this broker but i’d love to read a French version before i decide.

  38. LoveyTovey! says:

    Wow, everyone is going eStatements. I still prefer getting paper records but well i guess i cant blame Questrade since it does cost more money for them (everyone wants a fat bottom line). I like to keep paper in case there is a dispute electronically even though in my life i have never had any. But again, i am old so i am not as into eStatements as others. But not a problem. Thanks for a sensible questrade review. You people deserve merits for your hard work in putting it together that is for sure.

    With care,
    Melanie

  39. Steve says:

    I’m new to trading and eager to get my feet wet. My wife isn’t working and our combined income isnt consistent so one of my reasons to looking to trading is to hopefully help with our family income. Yes i know its a bit naive to think a newbie to trading can do well in trading but after reading this qeusstrade rivew and a nice $50 offer cde to boot i feel i should just go for it and see where it takes us.

    I will likely start with blue chips and other safer paths until i fully understand things. I’ve also done some practice in IQ Edge (downloaded it) and liked it.

  40. Felipe P. says:

    Nice touch with the $50 in free trades questrade offer code. I came here in a last moment thing after making up my mind to go with CIBC Investor Edge and ended up changing my mind now after reading this questrade review and the icing with the $50 thing. lol.

    Funny how life works out!
    Greetz from Ontario!

  41. Kari L. says:

    I’m a progressive and so i applaud Qestrrade’s with the suite of tools. I never heard of them before reading about them in a paper and in this reveew but there is something about their style of focusing on the little guy that i like. Thanks for the ofer code. I may consider creating a new account with them eventually. Au revoir!

  42. Yorke W. says:

    I wonder if in time Questrade will go all HTML5 and drop their desktop apps? Seems HTML5 is getting so powerful, including responsive to different screen sizes like mobiles and tablets, that it seems redundant to keep native applications. Just my intuitive guess if they will go that route. I’ll bookmark this questrade review and we shall see who is right.

  43. Carter says:

    Just found their online chat is taking a bit too long to get a response and decided to go with the call back feature. I recommend others do the same if you are waiting too long. Just my two bits.

  44. BuyandHoldster says:

    It’s been a month now with Questtrade. All good so far. I am surprised their research tools are actually pleasantly useful — found some new trades. This ques rview should make mention more of their research tools because before i joined i didnt realize they had much offerings.

  45. Demarion Dunkin says:

    I can’t believe this review was able to even get down to the nuances like 64-bit usability of their desktop app. This is super detailed! So Questrade is good? I did read some bad reviews about them but noticed they were dated way back 3 years so your questrade review is the best i will have to go on since it is so complete, new, and up to date. Me thankz you.

  46. McKenna G. says:

    Questrade Mobile might be the big thing that makes me give questrade a second look.
    And will this questrade offer code work if i just apply for the mobile thing?

  47. MeSoGreedy! says:

    Diamonds and pearls my friends — questrde promo coupon for an easy $50? What’s the question? I’m signing up! Free money is free money for me 😀

  48. Quantitative Easing Says What says:

    Actually @withlove you have to remember that Questrade does have to still process received funds. I am not sure if they still use a 3rd party back-end processor and so 3 business days is a good amount of time for processing to complete. I’ve actually seen them take only 1 day (a friend of mine) but for me it’s always 3 days. Be patient its coming!

  49. Boston Celtics Fan says:

    I was talking with several Questrade representatives today who called me back. Nice people. We got to discussing a few things mentioned in this questrade review such as security. They know their stuff that is for sure.

    They mentioned knowing about this review done by this site and said they plan on integrating a kind of "Are you Human" check. I talked with them for about 30-45mins. I’m pretty happy with them. Looks like Questrade won themselves a new customer. I will sign up tomorrow when i get back home.

  50. WithLove4Me says:

    I’m still waiting for my $1,000 deposit to arrive in my new Questrde account. It’s been like 2 business days. Normally when i make transfers from PC Financial to make bill payments or even to my other external bank accounts it takes no more than 2 biz days — normally just one day. Do they normally take this long?

    And yes i did read this revew and understand it takes up to 3 biz days but i was thinking since my bank account seems faster than normal i’d be able to get my account active in a day or so.

  51. Kye says:

    Thanks for the questrade promo code mate! I’m a new questrade member because of this questrade review 😛

  52. Lachlan says:

    Not a big fan of handing over my SIN # but after some reading on CRA site i just discovered that financial institutions like Qesttrade are required to ask for it. Didn’t realize that. But then i’ve never traded stocks before outside my local bank. I guess i will go finish up the application process now.

    Much appreciated for a quality qusstrade review.

  53. TheBigLill says:

    I am still stubbornly using their Trading with Questrade platform. They haven’t asked met to switch over to IQ Edge just yet but my friends have said they were starting to be prodded to use iq edge more. Not sure why that is. I guess my friends might be viewed as more active and so maybe questrade prefers they use the more advanced iq. I guess i am a bit conservative and refuse to use another platform even if it is in my best interest. This questrade review does make it easier for me to want to give it a chance. I guess i should now before it’s too late. Anyway, just thought i’d drop in to see what people were saying about the activities of questrade.

  54. Freddie A. says:

    Oh.My.God! I’m suppose to read through this encyclopedia of a qestrad revuw??? Well, the 4-stars rating and $50 coupon code is good enough for me so you’ve won me over. Call me lazy for not wanting to read thru this thing but well yea i guess i’m lazy. 🙄

  55. Herbert says:

    The idea that i can hold both USD and CAD in a registered account at the same time is extremely enticing. I have been bashing CIBC for years about being charged constantly for trivial conversions when i dont want my dividends being converted back to CAD from USD.

    I am still going to put more thought into whether to join these fellows but thank you for this review. I will keep it on my mind as i make my mind up. Will this promotional offer work for clients who transfer their portfolio from CIBC?

  56. Stocks-Bonds-Man! says:

    This has to be the perfect example of why the collective share icons is useful. I have a few friends on facebook and twitter who were chatting about a descent discount broker and now that i found this questrade review it makes things way easier for me to let them know. Thanks so much. As for me, i havent read much of this yet but they look adequate so i might give them a taste.

  57. Eoin says:

    Ah so Businesses can join too. Interesting. I have a small business and it would probably be more economical to open an account as a business so a few of my employees can have access to apply trades and apply any gains/losses to the business. I will have to look into this more thoroughly. Will this questrade offer code for $50 work for business accounts or just personal accounts?

  58. Cal10 says:

    I am back with Qestrade. One of the reasons i left was because of the mess of their earlier trading platforms. I am glad to see they burned them and made the IQ platforms. I guess the big perk is the Mobile app which i havent used yet. It will be fun. In a week i will return and provide my mini review.

  59. Ben says:

    Great quesstrade revue guys! Me and my girlfriend decided to hook up with Questrrade the other day for our registered accounts instead of going with our weak interest rates offered by our banks.

    Our fears originally for not looking to investment accounts was because we didn’t want to be constantly charged all kinds of silly fees for keeping it open. So stumbling onto Questrade was a nice surprise. I think we are confident about our choice and wanted to drop by and say thank you and the questrrade offer promo thing worked for both of us.

  60. Kobe Burr says:

    Just came across this questrade review from a friend who passed me this link on LinkedIn. Never heard of questrade before until today. So are US resident Canadians allowed to join or must i be living in Canada to be a member? I have all the paperwork but not sure if i have to have a Canadian address to do so despite being Canadian. I will have to call them and find out.

    Oh, just noticed this review mentions one can use DocuSign. I think i will do that first and see if it accepts it. Very useful.

  61. Rhett S. says:

    I’ve begun options trading and might give qestrad a whirl. I assume that 50$ qestrde promo code will work for such an account? I will give it a try. If it doesnt work in the application i will raise hell with them on the phone 😮

  62. Joban Brunner says:

    My current broker is Bank of Montreal and after some debacle which i wont go into here i am thanking god i found this questrade review because i just think i will pull the trigger and join these guys and say bye-bye to the hassle i had with BMO.

    Questrade mentions they cover free transfers from InvestorLine so i think i will use that. I guess i will remember this questrade promo code and tell them to apply it to my account when i speak with them about making the transfer. Or i guess i should fill in the online application and apply the promo code there then call them. I guess that makes more sense.

    So thanks for resolving my headache i was developing all day with BMO.

  63. Konnor Weber says:

    I am frankly happy questrade trashed their old trading platforms and rewrote all of them from the ground up. It seems much cleaner now even though i am still a bit slow to adopt things like questrade mobile.

  64. Kordell Decloud says:

    Bonus points for the dude in the comment section attempting to try using internet explorer 6 on questrade’s site. LOL! I got curious and spent like the last 30 mins hunting down IE6 to install and go try them out. Wow IE6 is a old and bad browser. It’s like the entire web is broken. Back to Firefox i go. Thanks for an awesome questrade review guys!

  65. Donnie says:

    Was actually planning to come here to bash questtrade iq edge but after speaking to a person on chat they said a new silent update was being done shortly to fix annoying quantity bug. Happy to say this morning the bug was fixed. So i guess i will say i am happy.

  66. Anna Cox says:

    Quest trade’s security is pretty solid. I’ve used a few other services and they all pretty much do the same things. Did anyone hear that TD had a security breach on their investment side? Can’t remember when this happened. So far i have never heard of Questrade with any security leaks. So good for them.

  67. Emiliano Headly says:

    Wow i am loving that questrade trading platforms! That black look is mighty cute! So this questrade review mentions a thing called trading with questrade but even when i check questrade’s site i still dont understand the difference and how it fits in this family.

    From what i decipher Trading is identical to questrade iq but that it works on all devices. But goes on to mention it can be used on mobile devices too. So what exactly is the point if it does the same as their mobile platform?

  68. Shyheim Hilton says:

    Was reading yesterday that the Prime Minister is really gutting this economy and so it might be best to start investing in more secure outside investments. I was thinking of going gold but not so sure now. I think your $50 questrade offer code just may have tipped me in what i should do: join Questrade and get my house in order before Canada gets gutted.

  69. FinanceBaby says:

    Just joined and my account is ready for trades. So far Edge and Mobile are very good trading platforms. Hope this helps anyone interested in knowing.

  70. Edmond Myers-Bilick says:

    Anyone know if Questrade IQ Edge will be made available for Linux platforms? Granted i could just use the web version but the web version i fear is missing something….

  71. Andon says:

    Props to you folks for putting together a hefty sized questrade review. I remember when questrade required you to have an initial deposit of $10,000. Yes, that is ten-thousand. I guess they really embraced the idea of going for the smaller ma-and-pa investors by reducing it to $1,000 which i think is smart. That was the big reason i didn’t join back then with questrade. This was back in 2005 or so. Looks like they really improved things.

  72. Demarco says:

    That’s nice to read that questrade keeps records for several years. With all businesses going electronic exclusively it is just much easier to have them keep it on their servers as long as possible.

    With my credit union they had limited trading but i was happy…the only thing that was annoying was they would only keep records for that month which was annoying, and they didnt offer paper records.

  73. Zak Dine says:

    I’m about 1/3 of the way through this questrade review and i think i am satisfied. We are looking for a place to park our money in an RRSP account. We’ve been advised to make use of our contribution space since we never have and so the best course is probably to open a trading registered account.

    I think what won us over is that you can hold both canadian and us dollars in the same registered account. TD, my bank, doesnt do that which is why we were thinking to look around. I think we will discuss things a bit more and come back to this review a few more times but just wanted to say my thanks for making it easier for us. So i am guessing the questrade promo code of $50 will work for us evne if it is a registered account?

  74. Devon121 says:

    Why do all places go with the dark theme for their trading platforms? I for one prefer a more brighter trading window so i can see everything. I guess to each his own. Is there a way to customize the windows to be brighter or is that the only look?

  75. Andon says:

    My computer isn’t at a high resolution and so the screenshots in this questrade review appear really small. I didn’t realize that it was scaling relative to my screen after tapping to view the larger images. I wanted to see more (full size of the image) and thankfully all i did was right-click and select "View Image" to see the full size. Just thought i should share for anyone else who was looking for bigger sizes for the images.

  76. Ulric Humble says:

    Since questrade is on a mission to revamp everything they should look to adding more social tools. I’d like to chat with friends and look to real-time advice while inside questrade iq, or inside questrade accounts.

    Just a thought.

  77. Mika says:

    Can one go crazy and create like 10 questrade accounts, one for each family member, and have them connected in a way so that family members can transfer funds between accounts?

    This would be handy for my growing family where i want my children to have trading accounts of their own but connected to mine so i can monitor their activity and move funds into their accounts when need be.

  78. Ramsey says:

    Nice to see Questrade has really improved. I remember way back in the day (circa 2000) when i was starting to trade i was thinking of joining Questrade but was turned off by their lack of everything. It’s good to see them really cleaning up their act and becoming a superior trading environment.

    I am happy with my broker right now but i am glad i came across this questrade review so if things change i might give them a second look. I just shared this on my facebook page. Cheers.

  79. Bart Millar says:

    You weren’t kidding about them being $4.95 per trade being the lowest in Canada. After reading this questrade review i decided to look around for the past week for anyone else. I couldn’t find a single person that had a deal that compared. And if i did (i think i saw one @ $6.95) there was always a catch (you had to make at least 100 trades per month to qualify for $6.95/trade — huh?).

    So i guess i will join questrade and get this over with. Thanks for the questrade offer code.

  80. Adriel V. says:

    Hmm, i am still trying to decide if i should open a questrade business account seeing as how there might be some taxing benefits to it like how there is for health plans (phsp). I’ll bookmark this review and come back for later analysis. Thanks for existing.

  81. Kelly Hannah says:

    Questrade should have a cartoony mascot. You know to get the younglings to join and talk about in school yards about their investment portfolios. Oh i am sure kids love to talk about that stuff 😉

  82. Russell says:

    I am always, always outside and on my phone so questrade mobile is what i am really interested in. I hope you guys will write another awesome questrade review about it.

    Haven’t read much into it but is there an HTML5 alternative on iPhone or is it exclusively a stand-alone app for iPhone only?

  83. Elvin says:

    For the most part @Miranda its just a cool sounding term. Let’s face it Questrade IQ sounds much better than QuestraderWeb. I personally like the name for a trading platform. Makes me sound like i am smart even if i am a horrible trader.

  84. Roman S says:

    as far as i know @cr@wd you can use the questrade offer code on as many accounts as you like regardless of being a prior member with them. To be on the safe side you can always use their chat online at questrade’s website and ask.

  85. Miranda Cole says:

    Ya ok so this might sound dumb but the "iq" part mentioned in this review regarding questrade iq, what does it mean exactly? Or is it just a marketing ploy by questrade as something new?

  86. Bryce H. says:

    Ok i am back here reading this questrade review and glad to see its been updated to analyze questrade iq. It looks good. Nice touch with Iceberg trades. I have rarely seen this implemented anywhere else. I usually have to call my broker to get something like this. So +1 to Questrade for the modernization.

  87. Darell B says:

    Ultimate is right! Oh. My. Goodness. I think you know more about the questrade experience than questrade does. lol.

  88. TheTrueQuestrader says:

    I received an email today with Questrade bragging about adding more functionality to their order entries which addresses something i was saying for a while. Looks good.

  89. nancy-allen says:

    Wow you guys were really thorough in this questrade review. I was expecting a simple yay or nay but you guys break it down. Questrade should link to you guys since its overall a positive review. I am about 80% done reading it. It’s been incredibly helpful for my husband and i.

  90. Cr@wdz says:

    Hip hip horray to Questrade in garnering the gonads in dropping Penson for their Account Activity thing. I use to be with Questrade several years back. I am now strongly leaning going back based on this questrade review. Would i be able to still use the questrade promo code mentioned here despite being a previous questrade member? Anyone know?

  91. Osvaldo G says:

    Just got feedback from Questrade that questrade mobile is getting a big update later this month! I’ve been a big advocate of mobile trading and its good to see questrade is actively keeping this app relevant.

  92. Darrien M. says:

    Nice that they have their own coding api platform too. It will be interesting to see indie app developers works in their app store. If they have such a store.

  93. Maverick says:

    I use to be with Questrade about 5 years ago when they had 3 different logon credentials which was frustrating.

    I decided to stop by here because this questrade review was given to me by a friend on facebook. Questrade really looks different now. Looks descent.

  94. Drayden Sorenson says:

    Hi @Ana. Actually i never had problems using questrade’s document signing part. Worked perfectly and very fast. I think it was just a temporary glitch at that time you tried it. You could try it now and i am sure it will work but then you did mention that you mailed it off anyway. Because its the internet there are going to be hiccups by all service providers from time to time. Not a big deal. Just part of life.

  95. Jacoby says:

    Oh god this questrade review is way too long for my A.D.D. LOL! Might have to recruit my buddy so we can break it up into parts and compare notes. lol. Can i just assume they are awesome based on the 4 star rating you gave it? To be honest i just came here for the $50 questrade offer code 😀 – I love free stuff.

  96. Ana Kringlin says:

    Anyone else have problems using Questrade’s electronic signature service when trying to join them? I put in my details but it either closes the window and nothing happens or an error message appears

    I am resorting to mailing in my details but its a bit annoying having to wait. I guess their eSig service is down at the moment or something. No big deal but just wanted to see if it was a common thing.

  97. Jaden says:

    How am i suppose to read this questrade review? It’s the friggin’ bible! Is there a coles notes version of if questrade is good or not? Yes i see the 4 1/2 stars out of 5 thing but whatever.

  98. Tom says:

    I like questrade iq edge. My favorite feature is the multiple workspaces. I usually make complex trades that tend to get messy and so having separate screens to plan out my strategies is a life saver. This is a wonderful review. I’ve bookmarked it for later.

  99. Juwan D says:

    Yea so i just watched a few questrade iq videos and although it looks great i am wondering if i can get more details on feature integration. It looks like their iq edge has more inside than Trading. Is questrade planning on putting even more features into Trading and essentially making both identical?

  100. Cdrick Stockman says:

    yes @narnia questrade mobile is free too and doesn’t have any in-app purchases. Just download and go. There isn’t much detail out there on it. I think this questrade review has more details than even questrade lets out.

  101. Narnia7 says:

    Curious, is the Questrade mobile app free too? Or are their necessary in-app purchases required?

  102. Jamal says:

    Ok i will be honest. I had already made up my mind to join Questrade but just came here looking for a questrade offer code that i could use when filling out their application right now. Glad i was right to check around. $50 for me! Thanks for the work though.

  103. Jayce says:

    Was perusing your screen grabs of Questrade IQ and didn’t realize IQ Edge and Trader were separate entities. Thought it was just different skins of the same thing. Had to read further to know the difference. Interesting. In a sense it feels like questrade understands its customers and is trying to strip away all the unnecessaries that plagued their older platforms. Looks good. I haven’t tried either of them yet but it does look promising.

  104. Gage says:

    I think one of the big pluses with Questrade is that they integrate the 2 sub accounts into each account for USD and CAD holdings. I have been with 3 other stock brokers online and no one does that. I think they want to make a buck off the conversions. This alone is the big reason i will probably join questrade in the near future (i love their mobile app — looks interesting).

  105. Anita H. says:

    Super duper questrade review! I really needed a detailed review like this to make up my mind. Thanks a mill!

  106. Lashawn says:

    Actually krus you should be careful because since it is a registered account you can’t just assume it is like any other type of account. Registered accounts impose a penalty for taking money out before your retirement. Also Questrade has a partial/full deregistration fee of about $25. CRA also has a 30% withholding fee that Questrade is required by law to deduct and send to the government.

    So although there conversion rate is pretty respectable inside the registered accounts i dont recommend you use it for your everday conversions. It’s not what the account was meant for.

  107. Trish says:

    Finally talked it over with my husband and with the help of your questrade review here we’ve decided we are going to give questrade a try. We just dont see a disadvantage and we are liking what we see so far. Thanks for the questrade offer code. The $50 will give us a nice start.

    ~trisha from alberta

  108. Krus and Rev says:

    hey you mentioned questrade’s spread for registered accounts. I was just checking my banks rates for CAD/USD and its lousy so i was thinking maybe i should just open a questrade registered account and do my conversions inside. Is there a downside to that?

    Would save me a ton of conversion fees.

  109. Sammi says:

    This questrade review is way too thorough! LOL! I actually keep coming back here to read it and i always find i am learning something i didn’t know.

  110. Alden Le Doyt says:

    Actually i think the questrade mobile app is a native app on the phone itself. HTML5 implies it is a web app which i think that is what questrade’s trader is all about.

    I am still a bit hazy on the other differences fully though. Anyone out there who can elaborate?

  111. Hilary says:

    It’s been a while since checking out Questrade. Having Mobile is huge! Most people like to check and do active trading when they are in some shopping line waiting. I can’t believe they took so long to get a mobile version — at least from my pov.

  112. Darien C. says:

    Hmmm might be worth joining so i can get in on some tech and bio stocks now that their prices are a bargain. This questrade review is awesome man! I will keep the offer promotion code handy.

  113. Willis Hatt says:

    I came here for the Questrade Offer Code (promo code?) but ended up getting caught up reading this questrade review. lol.

    I figure i should read this review before joining so i can know what i am getting involved in and not just getting excited by the free money for joining.

  114. Brendon Monninger says:

    If i recall the Trading with Questrade platform has delayed quotes so Questrade IQ with their live stream (i think it’s NASDAQ live streams) is very cool. My broker (not questrade) has delayed quotes so this is interesting.

  115. FXMan says:

    @cool4u I’ve been using questrade iq edge and its pretty good. Trading with Questrade (they really got to re-brand that) pretty much identical to Edge with a few missing things. If you’re not an high volume day trader then you won’t miss them. You’re fine.

  116. J Bird says:

    LOL i ended up buying Facebook stock by signing up for Questrade yesterday. Thanks a mill for a kickin questrade review!

  117. C00l4U says:

    So what happens for traders who want to only use Trading with Questrade for all activity? Is it possible that certain things in it are not possible and i am forced to install edge to complete it? I am sure Edge is a good trading platform since its better integrated with accounts but i am just use to Trading only.

  118. Ladarius C says:

    And the sleeping giant has awoken! Questrade is really shaping up to be something really special! Thanks for pointing out their history of who they were like that ugly account trade history with Penson. It really gives scope on how much they are changing and improving.

    I have heard of Questrade a few years back but out of pure lazyiness i have not persued them. This questrade iq looks promising but its probably the questrade offer code you provide that has my attention since i am not satisifed with Bank of Montreal.

  119. Jair M. says:

    I commend questrade for not going ape crazy in packing the screen for their questrade iq platform. It looks much more inviting. I don’t see too much difference between Trade and IQ. I guess that is a good thing.

  120. Jovanni says:

    @cory unless i’m mistaken it does say you use the same username/password to access the platform. However, to access Mobile while using Edge will still need you to manually type in your username/pass. I actually like having to type my login credentials to access each instead of being able to jump between each while logged into one because it provides another layer of security. Questrade’s platforms are more tightly integrated than their previous generations. Built from the ground up.

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