Questrade, Inc Broker Review

• 
   
  

  Visit Broker

  
  

  💻 Demo Account:	Yes
  ⚖ Allows Hedging:	Yes
  🔪 Allows Scalping:	Yes
  🏢 Headquarters:	Toronto, ON, CA
  📅 Founded:	1999
  📈 Trading Platform(s):	QuestraderPro, QuestraderWeb, QuestraderElite QuestraderFX, QuestraderFXPro
  📜 Regulating Authority(s):	Investment Industry Regulatory Organization of Canada
  💰 Minimum Deposit:	$1000
  📣 Maximum Leverage:	200:1

  Visit Questrade, Inc
  Risk Warning: Your capital may be at risk

  $1000

  Minimum Deposit

  200:1

  Maximum Leverage

  1999

  Founded

  Our Review of Questrade, Inc

  Questrade, Inc
  Company Overview
  Questrade, Inc is a discount broker that is located in Canada. When they were founded in 1999, their goal was to make sure that Canadians were able to gain as much financial independence as possible. They wanted to allow clients to have access to the best trading technology and tools, as well as the best methods of investing. For the past two years, Investor Economics has named Questrade one of the fastest growing, discount brokers that can be found online.

  Account Types
  The first type of account that is available from Questrade is the Margin account, which also happens to be the most popular. The Margin account allows clients to have access to most of the services that tools that Questrade offers, for a reasonable price. They allow individual, joint, and group Margin accounts to be opened. The second type of account that Questrade makes available is the TFSA (tax free savings account) or registered account. This is an excellent account for a person who is trading to store his or her funds until they are needed. It is also a great place to also hold stocks and options, completely tax free. The last type of account is the FX account, which allows traders to trade on the Forex market and have the potential to make a huge profit.

  Commissions & Spreads
  The commissions that are charged through Questrade vary with regards to what is being traded. Stocks can be traded for a commission of one cent a share, with a maximum of $6.95 being charged for a trade. Any and all ETFs can be purchased with no commission tacked on. Options can be traded for $9.95 each, with a $1.00 added per contract. Mutual funds are $9.95 per online trade, and bonds, GICs, forex, and CFDs can all be traded for no commission at all. Precious metals can be traded for $19.95 per trade.

  Trading Software
  There are two different platforms that are able to be used on Questrade. One is the IQ Essentials that allows for equities to be traded, including stocks and options. It is optimized so that it can be used on a tablet with ease, as well as any other devices that a person might wish to use to trade. IQ Web is also available, which is the entirely web-based app that traders can use as their platform. In order for a trader to trade forex, he or she will need to either use MetaTrader 4 or QuestradeFX, which allows different trends in the market to be tracked in real time.

  Deposits & Withdrawals
  Withdrawals can be made from a Questrade account for free, as long as the amount is less than $25,000. Depending on the type of currency in which the amount is withdrawn, there will be a fee of $20 to $30 tacked on if the amount should exceed $25,000. Most people hook up their bank accounts with Questrade in order to simplify the withdrawal process. Deposits can be made through online banking accounts that have been hooked to the Questrade account, a certified cheque, a stock certificate, a money order, or a preapproved transfer from another broker. The minimum deposit for stocks and options is $1,000. To trade option spreads, it's $5,000, and to sell uncovered options, it's $25,000. An account in good standing must have at least $250 in it.

  Customer Support
  One of the best parts about Questrade is that they offer a range of different services that are designed to help a new trader learn the ropes, as well as get any trader started with the different platforms as soon as possible. There are educational videos and tutorials for both subjects, as well as email addresses to a customer services center that will be able to provide assistance as necessary.

  Regulators & Safety
  Questrade is a member of the Investment Industry Regulatory Organization of Canada, as well as the Canadian Investor Protection Fund. Both of these organizations ensure that Questrade has all of the necessary registrations, as well as the security to back up investments should something go wrong.

  Leverage
  Questrade has a maximum leverage of 50:1.

  Sign Up Bonuses (if any)
  There are no sign up bonuses at Questrade, although there are bonuses if you should refer a friend. 

  
  Visit Questrade, Inc's Website
  Risk Warning: Your capital may be at risk