Personal Finance

Questrade $4.95 per trade, no fee RRSP, no inactivity fee

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  • May 22nd, 2018 2:50 pm
[OP]
Newbie
Apr 1, 2006
53 posts
4 upvotes

Questrade $4.95 per trade, no fee RRSP, no inactivity fee

read the news article of today's Globe and Mail.http://www.theglobeandmail.com/servlet/ ... echnology/

RFD link:http://www.questrade.com/account/open_a ... d=e064b9ff

http://www.questrade.com/index.html
* No fee RRSP
* Free education tools
* Low account minimums
* No inactivity fees
* 24 hour account management
* Real-time account updates
* Trade multi-leg options online
* Intelligent order routing
* Customizable charts
* Automated alerts
* Strategy testing; trailing stops
* After hours trading & online shorts

Anybody knows their low account minimums ?
2306 replies
Banned
Jun 19, 2006
9349 posts
53 upvotes
Still not quite as cheap on a commission basis as Interactive Brokers, but the lack of fees is very compelling. Their margin is more expensive however.


They do handle RRSPs, which makes them a very compelling option for IB users who have RRSP accounts. Plus the datafeeds are free.
Deal Addict
User avatar
Dec 22, 2004
1973 posts
12 upvotes
Hm, thanks for this. Looks interesting. Waterhouse fees are killing me. And they suck to boot. I'm only with them because they bought out Ameritrade and I never found the time to switch.
Newbie
Jul 4, 2005
37 posts
I am using TD Waterhouse and IB for various accounts.
Questrade sounds attractive. Does Questrade handle RESP account?
Sr. Member
User avatar
Aug 10, 2006
979 posts
15 upvotes
Toronto
makeice wrote:
Oct 11th, 2006 12:54 pm
I am using TD Waterhouse and IB for various accounts.
Questrade sounds attractive. Does Questrade handle RESP account?
How come you have 2 brokers? What do you use waterhouse for vs what you use IB for?
Member
User avatar
Jun 17, 2006
476 posts
211 upvotes
Calgary
I noticed on the Questrade website that if someone refers you you get $50 in trades (it doens't mention the conditions but there's probably lots).

In any case, I'm looking to start an account so if there's any current Questrade account holders who'd like to refer me (and in the process earn yourself $100 in free trades), PM me.

Thanks.
Newbie
Jul 4, 2005
37 posts
IB does not handle registered accounts - i.e. RRSP and RESP. For my day-to-day tradings, I use IB to take advantage of the low fees.

TD Waterhouse has my registered accounts.

I check with Questrade, registered accounts are accepted.

Before, I closed all my accounts with IB and TDWaterhouse. How is the service at Questrade?

Makeice
Newbie
Feb 7, 2004
39 posts
3 upvotes
yeah i'd be interested in hearing about the service as well.
(i'm currently pondering going with e-trade)
Newbie
Feb 7, 2004
39 posts
3 upvotes
it's 2500 cdn now - recent change?
i didnt know that you had to have that much of a balance - that's not a cash balance, right?
(i just tried to sign up last night and it said 3000 cdn - screwup regarding address to waiting for someone to call me back - they said it'd be by noon and it's now 1324 - hmm...)
Jr. Member
Dec 13, 2001
158 posts
Toronto
$2500 is nothing if you really do the trade honestly. Not like etrade, request $50,000 for special rate, $9.99 / trade.
Banned
May 18, 2004
702 posts
Anybody tried the account already? I like to give it a try, but no known what's the company's background is about?

Any comments will be great.
Thanks.
Deal Addict
User avatar
Apr 4, 2005
2667 posts
121 upvotes
Toronto
question: how reliable is questrade? like if they go out of business, does it have the backing of the canadian government like etrade?
like for example if i have $3000 of stock in questrade and they go out of business will i have access to my money?
Member
Oct 21, 2006
299 posts
36 upvotes
South Etobicoke
hey guys Don't bother signing up with Questrade these guys are a joke and tiny. I've been to there office in north york and seen how badly managed that place is. The whole 4.95 commission promo is a scam anyone who can do simple math will agree.
Nobody even buys 495 share odd lots.
here's a good example

1000 shares
= 495 shares + 0.01 per share thereafter
= 4.95 + 5.05 = $10
This is higher than their direct competitors E*Trade and Tradefreedom. Both of which use the Axis Pro platform.

Also Etrade and Tradefreedom have had No Fee RRSP's and No account Minimums for awhile now. Questrade just started this month.

Another thing is Questrades Platform Fees for Axis Pro this is where they scam you.

http://questrade.com/fees/fees_data_access.html

compare that with

http://www.tradefreedom.com/en/tradingp ... ns.asp?t=2

The Axis Pro data fees are free at Tradefreedom except for the Venture exchange but you can bargain with your account manager for deals on that. You can get free Level 2 Venture exchange feeds if you do 15 trades a month. Thats the deal I bargained for.

Questrade doesn't have "FAST" routing like Interactive brokers and Tradefreedom which is an Intelligent Auto Routing algorithm which scans the market to determine the best Execution Venue for your trade order.

If you're an active trader or an occaisonal trader you are better off with Tradefreedom because you don't have to worry about Axis Pro fees and have better execution.
Member
Oct 21, 2006
299 posts
36 upvotes
South Etobicoke
Forgot to mention that the minimum to open a margin account is only $1000 at tradefreedom. They give you 3:1 buying power too. Also they will credit your account when you fedex your account applications so you dont have to pay for courier fees. Its pretty good service.

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