Avoid Questrade At ALL COST

[nwalbert]

Like many others here, I have had a horrible experience with Questrade. I "opened" an RESP account for my daughter on January 14th and transferred a few thousand dollars to Questrade. That was the last I have seen of my funds.

My account still show as Incomplete and I have waited on hold for hours on at least 5 occasions to be told that my account will be opened "this week" yet I still do not have an active account and have no idea where my funds are.

At this point their systems are so messed up that it is like burning your money, avoid them and pay the extra brokerage costs from a reputable provider.

[thedead]

I have not had an issue with them...3 years now

[nwalbert]

If you opened your account and have made no changes prior to the "upgrade" you have a chance. Otherwise you are totally screwed.

They will lie continuously to you.

[Fox2k]

did you wait to confirm that your account information was correct before transferring a large lump sum? They recommend transferring like $5 at first to ensure that everything is set up correctly.

[armyguy25]

did you wait to confirm that your account information was correct before transferring a large lump sum? They recommend transferring like $5 at first to ensure that everything is set up correctly.

That shouldn't really matter. Regardless,. they should be able to track the money. Anyways, I've had no issues (although I've been using them for 2 years now). It seems like most of the problems here are with new accounts/transfers.

that sucks, and it's a huge inconvienance. But Questrade is not just going to take your money and not give it back.

[Questrade]

@nwalbert

My name is Matt and I work at Questrade. I would like to acknowledge that the timeframe to activate your account and the lack of communication you have received is abnormally long, and not within our standards. I would like to help. Please email the details of your experience and account information to feedback@questrade.com. I’ll have a member of our client services team review your account, and get back to you as soon as possible.

Regards,

Matthew Basile
Questrade, Inc.

[oginvest]

Until they get some more reps trained up and the wait times go to 15 mins or less I would avoid Questrade. These wait times are ridiculous. What is the most frustrating is being on hold for an hour and then having the call dropped.

[Infrared]

oh yes, i was waiting for 3 weeks to start using my account, just to invest right before japan crash
and yes, waiting time on the phone was 1 hour 15 minutes (to finally correct their mistake)!

[YUP5588]

I don't know why all the hate for Questrade, new accounts or old.

I had a TFSA and RRSP account before the "upgrade" and that all went over with out an issue and I just opened up another accout, no issues. Sent in the paper work for the new account Sat March 5th and as of today it's completed and active, funds in the account too.

The only issue, if you want to call it that, I've had with Questrade was with a transfer for all-in-kind from another broker. I had transfered mutual funds from a TD TFSA and RRSP account to my Questrade accounts and the process did take some time - about 6 weeks for the TFSA (was expected) and almost 10 weeks for the RRSP. It seems like things got tied up at TD with the RRSP but Questrade followed up and the trasnfer was resolved a few business days later.

Over all - +1 to Questrade!

[larry81]

just imagine how desperate they are if they are actually paying half-trained monkeys to scour forum like RFD and answer to post like this

i actually enjoy paying 5$ more per trade at tdwh

[ACC-Major]

you guys got your Feb 2011 statements yet? i need it to get my fees reimbursed.

[Fox2k]

just imagine how desperate they are if they are actually paying half-trained monkeys to scour forum like RFD and answer to post like this

i actually enjoy paying 5$ more per trade at tdwh

redflagdeals has one of the busiest forums in the country. You don't think it makes sense from a business perspective to have a presence here...?

[sslaw]

nwalbert, have you checked to see if they've validated your ID?
They might be waiting for an attestes/noterized ID before your account status will move forward.

That's what happen to me when I tried to open a margin account, didn't want the hassle so I went with TDWH (pretty happy with how things are now).

[hmm]

just imagine how desperate they are if they are actually paying half-trained monkeys to scour forum like RFD and answer to post like this

i actually enjoy paying 5$ more per trade at tdwh

If anything it shows they have great customer service. That they go out of their way to assist their customers because they are acting like little babies and crying to strangers online..

[oginvest]

If anything it shows they have great customer service. That they go out of their way to assist their customers because they are acting like little babies and crying to strangers online..

ROTFL

Great customer service? Yeah, making customers wait over an hour on hold is great customer services all right. Not responding to direct customer emails and but yet responding quickly to a public message board to save face is great customer service.

Instead of trolling message boards to do damage control how about putting that energy into picking up a phone line in less then an hour. Nah, that would be bad customer service.