Questrade Review

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Company Information If your goal is set to reap financial independence, then the goal of Questrade is to help you achieve it. And the Forex corporation does that by transmuting… more

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Website URL
HeadquartersToronto, Ontario, Canada
Support Number1.888.783.7866
Support TypesPhone, Live Chat, E-mail, Call Back
LanguagesEnglish, French, Chinese
Minimum 1st Deposit$1,000
Minimum Trade Amount0.01 lots
PayoutUp to 33:1
Free Demo AccountYes
Regulated Yes
RegulationInvestment Industry Regulatory Organization of Canada (IIROC); Canadian Investor Protection Fund (CIPF)
Account TypesStandard, Informal Trust, Corporation, Investment Club, Formal Trust, Partnership, Sole Proprietor
Deposit MethodsOnline Banking, Pre-authorized deposit, Transfer from another Broker, Wire Transfer, Certified cheque/bank draft, Non-certified cheque, Stock certificate, Money order
Withdrawal MethodsOnline Banking, Pre-authorized deposit, Transfer from another Broker, Wire Transfer, Certified cheque/bank draft, Non-certified cheque, Stock certificate, Money order
Types of AssetsForex, CFDs, ETFs
Account CurrencyCAD, USD
ECN Broker Yes
Scalping Allowed Yes
Managed Yes
Lowspread Yes
Forex Demo Contests No
Forex Live Contests No
US Traders Allowed No

Full Review

Company Information

If your goal is set to reap financial independence, then the goal of Questrade is to help you achieve it. And the Forex corporation does that by transmuting online investing services thanks to excellence and innovation, and it revolves around value and placing the customer first.

Since its outset in 1999, Questrade’s mission was to aid Canadians in achieving financial independence by equipping them with the most appropriate products for investment, technology, and customer services. Up until today, the firm carries on doing that. Most of all, the company trusts everyone deserves to be given an opportunity to unveil his or her potential and be treated with the utmost respect.

Not only Questrade’s work is rewarding but also it has been given several awards by internationally acknowledged entities for its achievements. Investor Economics has also named the company Canada’s quickest-growing online broker.

Questrade takes great pride in being a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada (IIROC). The latter is charged with overseeing Questrade.


Trading Information

At Questrade, there are multitudes of different account types. Let’s commence with the Margin accounts. With these accounts, one is able to derive benefit from margin power, meaning that he or she can increase his or her buying power by linking his or her margin account to the assets in his/her TFSA. The broker offers the lowest commissions in Canada that are 1¢ for stock trade and $4.95 for stock trade. Buying ETFs is entirely commission-free.

Opening an FX and CFD account is also possible at Questrade. It can be initiated either in CAD or in USD. The Standard account is the gateway to world markets and is available as a group with up to three (3) holders, as well as an individual account. If you commence the account with a business name, you will also derive advantage from corporate rate taxes when you invest capital. The formal trust also allows you to look for your children by setting a minor account which will permit the funds to be transferred to their owner when he or she is of legal age. This account necessitates at least $1,000 with a leverage of 100:1 (for silver, gold, and stocks) and 200:1 (for Forex). The account is also characterised by fixed spreading and allowed hedging and scalping.

There is a TFSA and Registered account which lets you derive benefit from evading significant bank fees while engaging in trading. Precious metals, ETFs, options, individual stocks, and mutual funds are accessible for trading with this account.


Questrade Trading platforms

Questrade is jam-packed with astounding opportunities for trading and Questrade MetaTrader 4, FX PRO, and QuestradeFX Global and are your gateway to doing so.

The MT4 of this Forex enterprise has raised the bar very high by equipping the platform with remarkable features. It has a setup for quick trading which permits monitoring rates and trading from charts with one-click trading. For new-fangled customers, the perfect idea is to commence with micro lot trading and lower margin requirements. Not only Questrade’s MT4 shines with micro lots but it also provides clients with advanced tools for risk management, including auto-liquidation rules for deficient margin and trailing stops.

The QuestradeFX Global allows trading of commodities, currencies, and much more. It is armed with indicators for technical analysis, multi-device options (tablets, smartphones, MACs, PCs), and easy-to-use, personalised watchlists to monitor the instruments that matter the most to you.

With QuestradeFX, one can take benefit out of “Market” and “Instant” execution modes, micro lot trading, improved market data, product tree structures, and watchlists.

And lastly, the QuestradeFX PRO is even more equipped, especially for CFD and FX traders. It boasts a near instantaneous execution for trading, enhanced chart-based trading, and more than 70 technical indicators, such as Fibonacci projections and extensions, as well as Ichimoku.


Security and Customer Services

Questrade has put in place a number of security measures designed to provide a good night sleep of its avid investors. The company uses the newest Verisign’s Extended Validation (EV) that is an SSL certificate technology. Bear in mind that your browser’s address bar will turn green when it has been verified by the Extended Validation’s tools for recognition. You can also enhance your security by putting a tick in the box that is beside “check for server certificate revocation” from the advanced internet options.

The FX enterprise is a member of the Investor Protection Fund of Canada and is being stringently regulated by IIROC.

The company provides countless options for contacting customer service. First off, it is accessible on various social media channels. Secondly, it has the “Call Back” option which is quite handy. And thirdly, it has all other standard options, including a live help, an e-mail assistance, and a telephone support.

An unfortunate thing about the website of Questrade is that it is only accessible in English and Chinese which is not that bad but still much more restricted than other rivals that have their websites in as many as 25 languages.


Deposits and Withdrawals of Questrade

With Questrade, you have tonnes of options at your disposal to fund your account. These include online banking, money orders, stock certificates, wire transfers, transfers from another brokerage, pre-authorised deposits, certified cheques or bank drafts, as well as non-certified cheques. The quickest from all these are online banking, certified cheque/bank draft, and wire transfer, while pre-authorised deposits and online banking are the only free options. With the exception of online banking (only in CAD), all other options are both available in USD and in CAD.

Withdrawals are executed through the same way as deposits are done. For ETFs, there aren’t any cheques while for fees, there are. $25,000 is the maximum limit available for a daily withdrawal.


Deposit Bonus and Loyalty Programmes

Questrade not only strives to provide opportunities for its traders to reap a mind-boggling success, but it also pampers them regularly with exceptional bonuses and promotions.

First of all, all traders of the brokerage receive gratis ForexCharts by eSignal when they initiate a CFD or an FX account that have over 20 analytical studies, advanced drawing tools, and the ability to stream real-time quotes.

Traders are entitled to a free eBook to craft strategies for both intermediate and novice investors. Besides that, there are coupons for 5 free trades, a newsletter with a free technical analysis, and if you create an account with $25,000+, the first month will be accompanied by advanced market data and free trades.

Referring a friend also yields bonuses – $25 per person and for every third one an additional $50 bonus. Now, that’s really tempting, isn’t it?



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