Questrade reviews, ratings, pros and cons, complaints from brokerage customers

Questrade Ratings

Questrade average user rating: brokerage firms reviews

Questrade BrokerageReviews.org rating: 5-star brokerage firm rating

Questrade Commissions and Investments Offered (2012)

Stocks and ETFs: 1 cent per share, $4.95 minimum, $9.95 maximum per trade
Options: $9.95 plus $1 per contract
All options assignments are $12.95 flat
Mutual funds: $9.95
Gold: $20 per trade
International stocks: 1% of the trade value (minimum charge of $125 USD)
Bonds: $30 per trade

Minimum To Open Questrade Online Brokerage Account

$1,000 to purchase stocks and options. $5,000 to trade option spreads and straddles. $25,000 to write/sell uncovered options.

Questrade Promotional Code/Offer/Bonus 2012

$50 in free trades when opening account

Questrade Reviews


by Alena, 8/31/2011 Pros: Innovative Bussiness Model, but poorly executed. Cons: Poorly Trained Staff
by questrade = crap, 8/5/2011 Pros: seems like low fees Cons: hidden fees for almost anything you can think of, terrible service I have been trying to transfer my account over from another brokerage since Feb 2011. It is now August! and still there are stocks that have not been transferred. Too long to go through it all but just a warning to everyone. This is truely the worst company, employees and system that could possibly be created. Stay away! I told you so....
by Zack, 6/27/2011 Pros: Cheap Cons: Customer Service Never again! I joined quest trade thinking it was a good idea to save a couple $ but you get what you pay for I guess! They closed my account for no reason when I had an active holding. When I decided to sell on bad news I found this out and wasnt able to get out. I lost 10% because of them and they still havent provided an ansewer as to what happened. Thanks questrade!!!
by hp, 6/18/2011 Pros: cheap, easy to use Cons: no telephonic support its quite cheap compared to major banks brokerage. if you trade occassionally (once or twice a month), its fine. For support, you can email or chat with them. emails are responded within 24-36 hrs while telephone may take hours or days on hold !! not worth calling. platform is easy to use though and good for begineers.
by Mari, 3/31/2011 Pros: Nothing at all. Run as fast as you can from them. Cons: Customer support, chat support, account manager, communication, everything in fact (except for the finance dpt). At the end of Jnauary, I decided to open an account with them with one of their rep. The process went smoothly at that stage little did i know it will be the only thing going well. The rep confirmed me that it would take between 3 to 7 days to receive my account ID # to start trading. After tons of calls to my rep, tech support, number of hours on the chat (that one time out of 3 would not work), a month later I still did not receievd my account ID. Instead I got generic standard emails from them telling me to supply them with an ID which at did on my very first week with them and has support apologizing to me for sending me generic emails that would not apply to my situation. Three weeks ago, I decided to close my account as I could not longer put up the insanity and lack of responsibility from this company. If I already had issues with them for a simple thing which is opening an account what to expect later on when the time for trading will come with their software...hmmm. lot to think about it so I closed it: needless to say that I had to talk to tech support 2x, and spend more than 30' on the chat to close my account, cancel my request for an account ID. Finance sent my funding back within days but since then I still keep getting those generic emails and my account rep keep calling me reminding me to send my ID photo for identification to them to finalize my application. This company is not making sense to me at all... They are not put together and very little pro-activity action/process is in place with the client. The left hand does not know what the right hand is doing. All this to say that if you want to save time, earn money, have a good experience and start trading ASAP: stay away from Questrade. The worst broker ever and I do have other broker accounts with other companies.
by Jay, 3/30/2011 Pros: Cheap Cons: WORST CUSTOMER SERVICE I HAVE EVER EXPERIENCED Have to wait hours on the phone to get somebody. Put in a request and then they don't even do anything about it. Absolute f$&#*ing worst service I have ever found at any business.
by Unsatisfied questrade customer, 3/9/2011 Pros: Nothing Cons: Worst customer service I have ever had with any company I have had with questrade the worst customer experience I have ever had with any company. I ahve just lost more than $3000 because of their in efficient service. They will not return your phone calls. You cannot reach them by any means. I am planning to close my account with them. This is the first time I am ever writing a comment on any company. Imagine how unsatisfied I am with this company
by L, 2/14/2011 Pros: lower fees Cons: worst customer service in the planet They mistakenly transfered and held my fund for no reasons. Tried sms, emailing, calling, any methods you name it, I got nothing until a week later they send me an email with no explanation whatsoever. Hideous and unethical ways to make extra interest by holding on to your float. Poor execution.
by Anonymous, 1/11/2011 Pros: Cheap pricing, Good 'QuestraderPro' Software Cons: Worst customer service ever. If you get the QuestraderPro software, you won't be disapointed, especially if you are an active trader. In general they are good overall. However, if you ever have a problem with an order or a trade related issue that needs urgent action, good luck getting help from the guys at the "trade desk".. You call and wait a while. When someone finally answers, they are extremely RUDE even when the trade issue is their mistake. I'm not referring to one bad experience, it's happened on several occasions. If I switch brokers soon it will be directly due to bad customer service and nothing else.
by Jeremie Huskin, 11/24/2010 Pros: Cons: I am very satisfied with Questrade. It is not perfect, but you get what you pay for!!
by Tai, 11/2/2010 Pros: Cons: I switched from E-trade to Questrade 27 months ago and very happy that I did.
by Neil, 10/26/2010 Pros: Cons: Overall, I find Questrade to be good. I don’t trade a lot, just monthly deposits, buy and hold stocks. I’m not an active trader. I know what I want to buy, so why pay fees when you don’t have to? I currently hold bonds in a TD trading account but I noticed Qtrade now offers bonds at better prices then TD. Maybe I should switch those investments over too. The 2 cons I can think of however are a) not as much inventory of bonds for sale as TD and b) is there a risk to Qtrade going out of business???
by Victor, 8/18/2010 Pros: Cons: I opened an account with questrade, but after 1 year I realized I have lost a lot in commissions. If you look at your statement in penson.com, you will realize some extra interest and market charges. I still have my account open with only $250 left in it. The only good thing is that they have free data. The option trading is also too expensive with them. I then opened an account with IB (interactive brokers) with only $10,000 starting balance, with all option privileges which I could never get with questrade. They are amazing, and I am making good money by doing low risk option strategies. For RRSP, I recommend VB (virtual brokers). With these two accounts I never have a need to trade on questrade. IB rocks, banks+questrade all suck if you are an active trader with not a huge amount of money to start.
by Raj khaba, 5/29/2010 Pros: Cons: Questrade sucks. Very painful, No business appriciation, Employees not trained, Won’t accept my tfsa deposit of 5000+ amount i withdraw last year. I spent 3 hrs of waiting, explaing CRA rules but morons won’t understand.
by n00, 5/1/2010 Pros: Cons: I have been with questrade for about a year and don't have any complaints about trading stocks with them but that being said they are not the best of the best. If you are looking for the cheapest and best for daytrading and know exactly what you are doing look elsewhere (like IB). If you are looking to simply do some swing trading or investing then they would not be a bad choice. As for forex someone else mentioned "The platform allows you to trade micro lots (1000 units) ". Perhaps I am simply an idiot but I can find no mention of this anywhere nor can I find out how to trade only micro lots in my own forex account with them. If you are a big forex player then you are probably not even considering this company but if you just want to try out the forex waters, then look elsewhere (like Oanda). There is 0% chance that you will make it big in the forex market trading mini lots (10 000) with the 1:200 leverage they offer. Oanda has this brokerage beat in every way for forex, mainly in the fact that the minimum trade size is 1 not 10 000.
by Brokerage-Review.com, 4/23/2010 Pros: Good commissions for stock orders of up to 500 shares Cons: Steep trading platform fees. Could be confusing for customers not familiar with Canadian laws and regulations Questrade is Canadian owned and operated brokerage that also provides brokerage services to US citizens. It offers direct access trading with 1 cent per share, $4.95 minimum and $9.95 maximum per trade commission. In Questrade account it's possible to buy, sell, and hold physical gold for $20 per trade. Plus, the firm will lend up to 80% on gold bullion in non-registered accounts, so you can buy gold on credit and borrow on the bullion already in your margin account. Your gold is kept safe at the Royal Canadian Mint.

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Questrade reviewed by BrokerageReview.org users. 16 customer reviews. Rating: 2.

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