QuesTrade Reviews and Ratings
| Website | http://www.questrade.com/ |
| Live Chat | YES |
| Telephone | 1.888.783.7866 |
| Broker Type | Market Maker |
| Regulations | IIROC and CIPF |
| Min Deposit | $1,000.00 |
| Account Base Currency | CAD, USD |
| Max Leverage | 30:1 on popular pairs |
| Trading Platforms | Questrade IQ Edge, Web-based, Mobile app, Questrade Global |
| Markets | Forex, CFD’s, Stocks, Options, Mutual Funds, Bonds, Precious Metals, ETFs |
| Bonus Offered | $50 in free trades |
| Funding Options | Interac Online, Bank wire, Online Banking, Cheque, Money Order |
QuesTrade Review, Canada Only*
Overview
This online discount broker offers its flagship trading platform for Canadian traders with managed or self-managed trading accounts.
Traders enjoy accounts with no commissions, good service, low per-trade costs, and other benefits for DIY forex investors. QuesTrade is a member of the IIROC, Canada’s regulatory body.
Account
Standard Account for individuals or groups with up to three holders, Informal Trust account for investment on someone else’s behalf, Corporation Account for businesses, Investment Club account for groups of three or more investors, Formal Trust account for minors, Partnership accounts for partners and friends, and Sole Proprietor account.
Customers have their accounts protected by the Canadian Investor Protection Fund with limits.
Managed accounts are available.
Practice trading accounts get $50,000 in virtual cash with full access to the Questrade trading platform.
Account types are: TFSA, RRSP, Cash, RESP, LIRA, RIF, LIF and Corporate Cash accounts.
Minimum deposit
$1000
Max Leverage
30:1
Features
Traders can trade over 40 currency pairs with target spreads from 1.7 pips.
The QuestradeFX Global platform allows you to trade currencies, commodities and more.
Other platforms include, Questrade IQ Edge, Web-based and the Mobile app.
Features of the platform include technical analysis indicators, watchlists to keep an eye on instruments, and support for trading quickly from your watchlist, from the chart or the dedicated trade ticket. The platform works across various devices, including tablets and mobile devices.
Questrade has a variety of different offerings and features: Self-directed investing and QuestWealth portfolios, both options have the ability to trade within a TFSA, RRSP, Cash, RESP, LIRA, RIF, LIF and Corporate Cash accounts.
Products that can be traded with Questrade are: Stocks, ETFs, Options, Forex, IPOs, CFDs, Mutual Funds, Bonds, GICs, International Equities and Precious Metals.
Education
The website offers plenty of webinars, seminars, market resources, learning centers and a community where beginners and DIY investors can learn strategies.
Deposits/Withdrawals
Various options including wire transfers, money orders, online banking, Interac, stock certificate and more. Credit cards not accepted.
Customer service
Good support with live chat, email and toll-free number with call-back service.
FAQ
Is Questrade safe ?
The short answer is YES. Questrade is regulated under the IIROC and the CIPF. Your money is insured ( up to $10 million) and they also have an “online security guarantee”, which they will reimburse you for any unauthorized transactions in your Questrade account.
Does Questrade do Forex?
Questrade offers Forex trading and CFDs. Forex trading spreads start as low as 0.8 pips.
Who is Questrade insured with?
Questrade carries private insurance up to $10 million dollars per account in the event they go out of business. Clients are also protected by the Canadian Investor Protection Fund.
Is Questrade Canadian ?
YES. Questrade is owned and operated in Canada. They are Canada’s largest independent online brokerage and are regulated by IIROC.
Does Questrade have cryptocurrency?
Cryprocurrencies are not offered in any trading product with Questrade. So no, Questrade does not offer bitcoin trading or any other types of cryptocurrency trading.