Investing

If you want to invest we would suggest you stay away from Questrade!

  • Last Updated:
  • Aug 5th, 2015 2:37 pm
[OP]
Newbie
Aug 14, 2013
3 posts
1 upvote

If you want to invest we would suggest you stay away from Questrade!

Can't get straight answers out of Questrade

Questrade went without any authorization from us and changed our data plan we were using up until the end of July to a much more expensive data plan in August and our charges are already $168.43 more in commissions for August than they were for July!

We are having our dealing with Questrade examined by our lawyers and the BBB and we are curious whether anyone else was having these kind of problems with Questrade?
8 replies
Member
Feb 16, 2013
464 posts
62 upvotes
donsal wrote: Can't get straight answers out of Questrade

Questrade went without any authorization from us and changed our data plan we were using up until the end of July to a much more expensive data plan in August and our charges are already $168.43 more in commissions for August than they were for July!

We are having our dealing with Questrade examined by our lawyers and the BBB and we are curious whether anyone else was having these kind of problems with Questrade?
I don't have one but lots of people here have questrade account...Carl from Questrade is active here on RFD may be he can help you...
Questrade wrote: Hi everyone,

Just following up on this one:

For your reference, here is a link to Questrade’s Free-to-Transfer promotion. For incoming accounts that are a minimum of CAD $25,000, Questrade will rebate any transfer fees up to CAD $150. While this rebate is offered only to one account per client, please contact us directly if you have a unique situation. Our New Accounts team is trained to provide our clients with the best available promotions based on their unique circumstances. If anyone has any specific questions, please send me a PM and I will respond directly.

Menaknow
– I’ve responded to your PM (please check your inbox)

Andiv70
- Please send me a PM and I will look into your case and follow-up with you.

Thanks,
Carl from Team Questrade
Deal Addict
Jan 3, 2013
2592 posts
921 upvotes
Sidney
No problems with QT on my end the last 3 years.
Newbie
Sep 9, 2008
12 posts
1 upvote
ottawa
Same here. No issues with Questrade. But then I'm buy-and-hold value investor. So, if you're more active investor or day trader, your experience may be different.
Penalty Box
Dec 27, 2013
8003 posts
4014 upvotes
Toronto
donsal wrote: Can't get straight answers out of Questrade

Questrade went without any authorization from us and changed our data plan we were using up until the end of July to a much more expensive data plan in August and our charges are already $168.43 more in commissions for August than they were for July!

We are having our dealing with Questrade examined by our lawyers and the BBB and we are curious whether anyone else was having these kind of problems with Questrade?
you know someone is full of ***** when they talk about their "lawyers" for a $168 fee charge
Member
Oct 31, 2014
228 posts
92 upvotes
Edmonton, AB
lol true that!

I'm with Questrade... very happy
Sr. Member
User avatar
Jun 27, 2007
579 posts
112 upvotes
Toronto
Hi Donsal,

We have been looking into your case and you should expect a contact from our client services team today.
We want to get this resolved for you as soon as possible.

Thanks,
Carl from Team Questrade
Sr. Member
Dec 5, 2011
501 posts
231 upvotes
Toronto
I just started with Questrade and I'm generally happy with it, but I had issues recently that I think was handled in a weird way.

I made a deposit to my personal questrade account through a corporate (small business) banking account. Apparently you can't do that though. Instead of bouncing/refunding the payment however, Questrade holds the payment in limbo. QT then told me that I had to either open a corporate account or I have to have my bank reverse the payment, which costs money and takes a week! I really don't get why questrade doesn't just bounce the payment instead of holding it for ransom.
Sr. Member
User avatar
Jun 27, 2007
579 posts
112 upvotes
Toronto
Hi Sinankeser,

When assets are transferred from a corporate account to an individual account (or vice-versa) they are automatically flagged as ‘third-party’ transfers. To avoid a deposit as being flagged, the names on the bank account sending the funds, and the Questrade account receiving the funds, should match. Once a deposit is flagged, the transfer can either be recalled by the originating bank, or, transferred to a matching account at Questrade.

If you would like to send me a private message with the email address for your account , I’d be more than happy to look into it for you and see what I can do to help.

Thanks,
Carl from Team Questrade

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