I had a security concern on a weekend earlier this year and attempted to make contact…he message I got was to email or call back during normal business hours. Hi Deesha, while I recommend Questrade right now, WealthSimple has a very promising WealthSimple Trade platform that you might want to look into. I haven’t dived into it yet, as they just recently opened up options for investing within a TFSA and RRSP. When it comes to research, use Questrade’s symbol lookup tool to access the stock you want to analyze. Questrade provides reporting, performance data, and relevant news articles on any of the stocks you select.

They are updated in real-time and easy to read on the front page of each application. Additionally, there is an option to watch videos on the desktop platform, which is a very unique feature. The number of available options markets at Questrade is below average compared with most brokers, but relatively competitive compared with other Canadian brokers. If you are opening your first account with Questrade, you can do it viaQuestrade Trading’s mobile app as well. You can open a self-directed TFSA, RRSP, or Margin account.

Why I 🖤 Questrade

This catch-all benchmark includes commissions, spreads and financing costs for all brokers. Keep in mind, these three platforms all provide unique experiences and are suited for different types of investors. Lets take a look at their browser based platform first. The belief that only a well-established bank can provide adequate levels of online-security is more of a myth than reality. Most established brokerages use the same level of security as any bank, Questrade is no different.

• There is only so much real estate you have to work with on a mobile screen, and Questrade makes the most of it.
• After weeks of trying to move stocks over from Morgan Stanley ,these bozos just couldn’t get it done.
• In addition to a personal RRSP account, you can also open a spousal RRSP, LIRA, RRIF, LIF, and locked-in RRSP accounts.
• Questrade offers two Advanced packages, for Canadian ($89.95/month) or US ($89.95 USD/month) data.
• Questrade is still, by far, the more robust trading platform.

On the web trading platform you will find a wide range of analyses, powered by Morningstar. When you log in to a device for the first time, you have to answer a security question. On successive logins, the accounts can be accessed with the basic login ID and password combination. For Canadian citizens, opening an account at Questrade is easy and fully digital. Even though with the evolution of Google it is quite easy to access this informationoutsideof Questrade, using their Market Intelligence area is definitely easier.

I struggled with their platform, pricing and especially during the transfer of my accounts. Now I keep just a resp, and it is because IB doesn’t offer such account. If you are genuinely concerned about the higher fees why are you not mentioning or comparing to National Bank Direct who now offer $0 commissions on all trades. The MERs for Questwealth SRI portfolios are slightly higher than the regular ETFs (.21%-.35%) but are still very low compared to actively managed mutual funds.

Questrade Pros and Cons

It provides all investors with access to Canadian level 1 snap quotes, US level 1 snap quotes, and one-click real-time data. Some of these comments are certainly untrue or the user made a legit mistake. I agree that they’re difficult to get a hold of, which is why I use their “call back” feature so my position in queue stays active and they call me when they’re available, it works everytime.

Trading GICs at Questrade is commission-free, but the minimum order is $5,000 . International equities are 1% of the trade value with a minimum of $195.00 plus applicable exchange or stamp fees, charged in the currency of the account in which the trade is placed. Questrade’s web-based platform is mobile-enabled, and the display adjusts to whatever device you are using.

Gain access to other Questrade financial tools, including QuestMortgage. Unlimited snap quotes for stocks and ETFs with the option to upgrade to real-time quotes through a monthly subscription starting at $19.95/month. No minimum balance questrade review to open a new account and only $1,000 to start trading. On top of this, each account is covered byadditional insurance up to CAD 10 million. This is a great service, as most other brokers don’t provide such a high level of insurance.

I understand that CoronaVirus is having an impact on day to day operations however, these are my retirement funds I am working with. Information on the latest IPOs, secondary offerings and structured products. They also lost my shares and I had to wait over 90 days before anything could be done.

News feed

You can also purchase low fee funds not available at bank brokerages such as Mawer and Steadyhand. The fees charged by Questrade are $9.95 per purchase irreguardless of the amount of units purchased. While I know the Robo Advisors and ETFs are all the rage these days, low fee mutual funds are a great option as well.

An Enhanced market data package costs $19.95 and provides level 1 streaming data from Canadian and American exchanges. Questrade requires a $1,000 minimum investment or deposit to start trading, which could be prohibitive if you only want to invest your spare change. Active and professional traders looking to trade foreign currencies can also use the Questrade Global trading platform. For example, you may pay 35 cents per 100 shares of a Canadian stock when you make a buy/sell transaction.

People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Your account can be in good standing, then they raise their short margin requirement. You are now on margin call and they give you 45 mins to rectify the situation because of their changes. Margin requirement on that specific stock is now 5 time higher than with IBKR.

How To Open an Account With Questrade

This Questrade review covers what you need to know about its brokerage service, its pros and cons, and why it is on my list of the best stock-trading apps in Canada. Intraday Trader uses pattern recognition to keep an eye on opportunities in Canadian and U.S. equities markets. Then, it cross-references them with your specific investment goals, through custom or pre-set watchlists that you create. When one of your target trades is triggered, Intraday Trader will send you notifications with annotated charts and a description of what’s happening and why. A basic version of the tool is free, but a live-streaming version is available with a subscription to a market data plan .

Questrade Review 2023

Even so, the IQ Edge can be a bit overwhelming for a beginner. The Enhanced Questrade market data plan gives you access to the CA and US Level 1 market data and includes a real-time market feed, which is required if you plan to do any day trading. That could also be one of the reasons it’s among Questrade’s most popular packages. Since robo-advisors are in charge of managing Questwealth portfolios, the fees are competitive. The best part is that the broker takes a percentage of your portfolio value rather than applying fixed costs.

And finally, lets have a look at margin interest rates to see what you’ll be paying if you decide to trade on margin. Overall, it’s highly likely the account you’ll need, whether you are an individual or a company, will be available at Questrade. But before we get into our in-depth Questrade review,lets look at some overall pros and cons. The web app design is clean and simple, so you’ll be able to find everything quickly. For some reason, fee reports are placed under the Account section. We doubt it’s done on purpose since all the transaction fees are transparently listed on the website.

Whoever wrote this article needs to actually open an account and try interacting with Questrade. Your glowing review is not borne out by my experience. I recently transferred my assets from Qtrade to Questrade https://broker-review.org/ because I trade daily and Qtrade was “taking” a whopping 40% off my trades! On the other hand, I have yet to find out any “holes” in Questrade. The numbers seem to add up and I keep MY profits fair and square.

If you’re looking for the cheapest commissions and a platform that caters more to traders, Questrade is best in class. However, if you want what I feel is the best brokerage in the country, you should be checking out Qtrade. Shows that the brokerage is excellent for beginners due to its intuitive web and app design, as well as low account and trading fees. You can access Questrade’s services and tools on the web via Questrade Web and on the desktop app called IQ Edge. Questrade also boasts one of the best mobile apps on the market.