A Questrade review for 2020

You can trade currencies, commodities and more with this excellent platform. It’s packed with features and tools to boost your chances of finding profitable forex and commodities trades. Apply technical analysis and annotations in just a few clicks, personalize your watchlists, and get economic releases and alerts. Questrade currently only offer their financial services to Canadian residents. If you are located outside Canada, please feel free to browse our broker reviews for an alternative option.

You can enter part of a company name OR symbol and it will show you the matching public companies on any Canadian or US stock market. You can use Wealthica to view all your investments in one place. If you currently use VB as your brokerage and you do not agree with me, please share your comments below and tell me why you like Virtual Brokers. The stock lookup feature opened an unfriendly, out of context popup window where I searched for Apple.

Moving your money into a higher-interest savings account

In order to use Questrade, you must be a Canadian citizen and resident and be the age of majority in your province or territory. 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.

• If you are looking for a basic, mostly Canadian stock or ETF portfolio, Wealthsimple is clearly the best option when it comes to zero transaction fees.
• 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.
• Virtual Brokers’ mobile trading app is ugly and doesn’t seems to work very well.
• Each IPO’s respective fact sheet, investor summary, terms, preliminary and final prospectuses are also readily available.
• Today, the discount brokerage offers some of Canada’s lowest commissions on trading and investing currently available.

If you’re transferring an account from another brokerage or bank, Questrade will rebate up to $150 in transfer fees. Questrade is a fit for you if you are a Canadian citizen and resident, and wish to avoid the high fees and restrictions placed on those who hold investments at banks. It offers a lot more flexibility to Canadian investors, including an automated portfolio builder and significantly lower fees. Self-directed investing might be the most popular option provided by Questrade. Self-directed stock trading allows customers to purchase, trade, or sell shares from corporations of their choosing.

Should you have multiple bank accounts?

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 the chat feature is unavailable (e.g., weekends, holidays, or outside service hours) you’re still able to leave a detailed message.
• I think they could improve by adding some support for digital wallets.
• If you want to invest in mutual funds, but aren’t sure which one to pick, you can narrow in on the right one using fund filters such as fund class, fund providers, currency, Morningstar category, and others.
• In order to qualify for the DALBAR Seal, companies must exceed stringent benchmarks in criteria covering all aspects of their interactions.

It’s nice and easy to use, supports Touch ID / Face ID for authentication and it works. It has limited features and has only been updated with small fixes in the last 2 years+ but still it’s a decent mobile app to buy & sell stocks. Wealthsimple Trade is still leading the way and pushing its competitors against the wall. Questrade revamped its apps recently in order to try to counter Wealthsimple.

Questrade Review: Pros & Cons of Trading with Questrade Canada (

As a one-stop shop for your investments, it’s tough to beat on price, easy-of-use and product offerings. Overall, the platforms are intuitive and easy to navigate. Questrade clients can trade on two desktop trading platforms or the mobile app. Questrade Trading is the web-based platform, offering basic charting, quotes, watchlists, and research tools. There are a few customization options, such as choosing columns for reporting and order entry defaults. Overall, the web platform is fairly easy to learn and use.

Either way we truly believe they’re the best brokerage available in Canada and that you’ll be happy with them. If you want to invest in mutual funds, but aren’t sure which one to pick, you can narrow in on the right one using fund filters such as fund class, fund providers, currency, Morningstar category, and others. In 1999, at the dawn of online stock trading, entrepreneur Edward Kholodenko co-founded Questrade with three partners.

National Bank Direct Brokerage

Our Advertisers/partners are also not responsible for the accuracy of the information on our site. Be sure to review the provider’s terms and conditions for all products and services displayed on MoneySense.ca. For complete and current information on any product, please visit the provider’s website. Intraday https://forex-reviews.org/trade99/ Trader, also available under the market research tab on the platform, uses pattern recognition (technical analysis) to keep an eye on trading opportunities in Canadian and U.S. equities. The algorithm flags trading ideas and events for you based on your chosen technical patterns, signals or stocks.

Questrade have a decent choice of user-friendly platforms for efficient and confident investing and trading for all skill levels. This includes modern, fast and easy-to-use mobile and web apps. I like how the platforms are built to make it easy for you to trade, no matter if you’re just starting out or are already an active trader. The all-in-one trading platforms have everything you need to trade, invest, and check your accounts in one convenient place. If you’re looking for more advanced trading tools and features, Questrade Edge desktop and web platforms have got you covered. For stock trading, Questrade has a unique democratic pricing structure.

By the time you read this review it will probably already be fixed. 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. 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.