Is Questrade The Right Investment Solution For You?

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I have a video on the Young Money Bootcamp eCourse on how to rebalance. You will need to fund it with a minimum of $1000 to get the commission rebate of $50. In the offer code, it should auto-populate because you would have clicked the banner/ link above so that you can confirm you will get $50 in trade commissions (click “check offer”).

Opening Your Questrade Account

If you need to get a hold of someone at Questrade, you’ll have a few channels to do that. Customer support is available through telephone, email, or online chat. There is also a section that lets you search information on a wide array of topics. You’ll pay $0.01 per share, with a minimum of $4.95 and up to a maximum of $9.95 per trade to purchase stocks. Income – Those who are looking for a medium to low-risk investment will find the Income portfolio best, which invests in 60% in fixed income and 40% in equity. Balanced – Ideal for medium-risk investors, this portfolio invests in 60% equity and 40% fixed income and comes with a MER of anywhere from 0.13% to 0.20%. A cost-effective trading platform that takes the complexities out of trading.

• When I first started investing, I didn’t know about Questrade.
• Whoever wrote this article needs to actually open an account and try interacting with Questrade.
• If you’re a high-volume advanced trader, Questrade offers Enhanced and Advanced pricing.
• High volume traders should be aware of Questrade ECN fees, which can be applied when making trades.
• Questrade offers you the ability to purchase any Exchange-traded funds listed in North America – be it US-listed or on the Canadian markets.

If you’re a high-volume advanced trader, Questrade offers Enhanced and Advanced pricing. An easy way to get around this is to buy an ETF every month (which cryptocurrency is free!) so you meet the trading requirement. This post may contain an affiliate relationship with companies that Wealth Awesome believes in personally.

My account numbers show correctly in Summary view but Avg Price data is incorrect in Trade view causing P&L data to be incorrect which is a real problem if you are trying to trade. This is a known problem back to at least 2012 , had I known of this problem in advance would certainly not have selected Questrade.

Market Intelligence

Between the two, IQ Edge gives you significantly more trading tools and customization options, so it’ll be the favorite for active traders or investors with much more experience. This is largely because Questrade has made a name for themselves due to their low fees and their great choice between trading platforms. Questrade was the first online platform for trading that offered a low commission fee of just $4.95 – and after 20+ years in the business, you can still get this rate with one of their advanced packages!

Like any online brokerage worth your time and money, Questrade does provide you with several research and analytical tools. All in all, IQ Web gives both novice and experienced traders all that they need to manage their accounts and make big moves. Both of these regulatory agencies ensure that trades going through Questrade are fair to both traders and brokers and provide smooth sailing for a wide variety of trading activities. Naturally, the quality of a trading brokerage like Questrade dictates whether it’s worth your time and money. We’ve chosen to use Questrade for all our online trading needs simply because they’re the best in the business.

How Questrade Outranks The Competition

You can use this feature to fund your account on a set interval, like bi-weekly or monthly, depending on when you like the money to be transferred. This inactivity fee is pegged at $24.95 and can also be avoided if you have combined equity up to the tune of $5000 in your Questrade account. There is also no maximum or minimum amount stated for your ETF investment efforts. Questrade offers you the ability to purchase any Exchange-traded funds listed in North America – be it US-listed or on the Canadian markets. There is no such thing as a one-size-fits-all option when it comes to selecting a brokerage. Different brokerages cater to different kinds of investors depending on a lot of factors. Did you know that buying and selling ETFs in Questrade is absolutely free?

However, Questrade does provide all of its account holders with access to a “How To” and Resources section of their website. The good news is that the inactivity fee can be avoided if you make a single trade during a quarter or if you subscribe to one of the data packages. The majority of investors using the Questrade brokerage will already be looking for something affordable and easy to understand, in addition to something that saves them money over the long-term. Questrade provides its users with two pricing options if they want to trade options, stocks, or ETFs. It’s okay to dip below this from time to time if you’re making trades, but the above balance means you’ll need at least $1000 in your bank to open an account.

In this in-depth guide, we’ll break down this Canadian online brokerage and see how they operate, what they offer, and what they cost overall. Finding out whether a brokerage is a good option can take time and money, either of which you might be a little short on. While there are plenty of online brokerages to choose from, only some are truly worthwhile. Subscribe to one of the market data packages we talked about earlier. Questrade is able to offer some of the lowest fees in the industry because they keep their overhead reasonably low.

Questrade Pros:

Wealthsimple will charge you 0.5% but you don’t have to worry about constructing an ETF portfolio or rebalancing it. The TD Waterhouse call line is 24/7 and my on hold time is virtually nil. Because of this I advise my kids to go TDW its worth the slightly higher fees.

Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. The annual management fee charged by Questwealth is one of the lowest in Canada at 0.20% to 0.25% and you get up to $10,000 managed FREE for one year when you sign up here.

In terms of market data, you get free snap-quotes displaying real-time prices and level 1 data. For an additional fee of $19.99 or $89.95, you get access to level 1 & 2 data, as well as live streaming of market data to your trading platform (vital for trading small-cap stocks). You also get support for hotkeys, along with default order values, including order type, route, and duration. Questrade is a comprehensive discount broker, offering cash and margin trading accounts for newcomers to the market and seasoned day traders or investors. The innovative web-based IQ Edge and IQ Web trading platforms and tools empower you to build and execute your trading strategy.

Instead, there are real humans behind the scenes who manage your portfolio for you. CANADA’s TOP 100 EMPLOYERS and ELUTA are registered trade marks of Mediacorp Canada Inc. “It’s part of us being proudly Canadian.” Questrade went even further.

Founded in 1999, the company has more than $9 billion in assets under management and over 50,000 new accounts are opened annually. This Questrade review covers what you need to know about its brokerage service, pros and cons, and why it is on my list of the best stock-trading apps in Canada. Questrade, as a whole, is a member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund .

Laurentian Bank Discount Brokerage is the only other brokerage that services investments in physical gold and silver but their service is very limited. Questrade is a highly rated, low-cost Questrade review brokerage that offers a large selection of investments so that you can consolidate and conveniently manage and track your RRSP. Hold both US and Canadian dollars in registered accounts.

However, we’d still recommend it for any Canadian looking to give investment trading trading news a try. It’s one of the best Canada-based online brokerages you can find.

Not even years, just a few months, you would have saved hundreds probably. For example, say you purchase the stock of RBC which is around $80 per share, and you end up buying for $5000, you can do the math, you’ll end up paying $5 in fees. The same transaction would have been $9.95 in RBC, TD or CIBC’s brokerages. The Fixed Active Trader Plan is more for the high volume or options traders in the first place. For the regular investors like you and me its more of a pay for what you own which is really good. For active traders interested in high-volume and options trading, the fixed plan is their best bet.

I’m sure even after 10 years, I’m still missing out on some features I haven’t uncovered. As you can see from the picture above, there is a TON of functionality with Questrade’s downloadable platform. But I will do my best to highlight the main features, and let you do the experimenting after. If you’re a simple investor looking to set and forget, Questrade’s browser based platform is perfect for you. Their mobile platform used to be brutally clunky, and to be honest sometimes downright unresponsive. This was when it first came out, and I was willing to give them a little bit of leeway as they pushed updates and bug fixes through.

The company currently manages assets whose value is in excess of $9 billion, thanks to its fee structure that is relatively little to non-existent and the efficiency of its trading platforms. I just started a fairly substantial account with Questrade. They say you can avoid the fee by putting in an ‘Out of Money’ trade. But there are many hidden fees Like ECN fees, and INTEREST if you buy US stocks using CAN balance on margin account. Questwealth Portfolios are a welcome addition to the Canadian financial scene. This robo-advisor option offers a middle way for Canadians to get some expert help with their long-term investments, and do so without the need for a huge portfolio.

The fact that no other Canadian discount broker offers the same access to no-fee ETFs can’t be ignored. No annual fees on Questrade registered accounts such as RRSPs and TFSAs is another big bonus. There’s no need to worry about achieving and maintaining a high balance to save on fees. Overall, Questrade has an offering that’s pretty tough to beat.

It highlights how many investors seek to have everything in one place. It’s not a bad approach to managing your money but I think it’s important to understand the fees you pay annually, and more so when you are just starting as you want more money working for you.