Investing

Is Quest Trade safe?

  • Last Updated:
  • Apr 8th, 2020 3:44 pm
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[OP]
Jr. Member
Jul 16, 2019
126 posts
123 upvotes

Is Quest Trade safe?

I registered for it before but after reading bad trustpilot reviews I ended up never creating an account
7 replies
Deal Addict
User avatar
Jun 15, 2005
1474 posts
885 upvotes
chay9220 wrote: I registered for it before but after reading bad trustpilot reviews I ended up never creating an account
Questrade is 100% safe, you should have no concerns.
There will always be bad reviews about platform issues or CSR concerns, but that comes with any investing platform. Can’t please everyone!
I’ve had most of my money with them for almost 10 years now.
Deal Addict
User avatar
Mar 12, 2014
1371 posts
1299 upvotes
Montreal
Started using them 2 weeks ago, cheap trx fee but no forever hold or waiting list like Wealthsimple free trade thing
Newbie
Apr 6, 2020
49 posts
29 upvotes
Halifax
It depends.

If you're buying and holding mutual funds/ETFs, it's fine.

If you are day trading/options trading/buying stocks, look for something else. There is a Reddit post out there where a guy lost $50k in options because of Questrade and they tried to sweep it under the rug.
Controller -- CPA, CMA
HVAC Industry -- Lennox dealer
Member
Jun 29, 2005
486 posts
64 upvotes
just pure equity trading, it's ok. reliable would be with the big banks, IMO.
[OP]
Jr. Member
Jul 16, 2019
126 posts
123 upvotes
aceofklubs wrote: It depends.
If you are day trading
I wanted to day trade, coronavirus makes stocks look like a fun gamble right now.
Newbie
Apr 6, 2020
49 posts
29 upvotes
Halifax
chay9220 wrote: I wanted to day trade, coronavirus makes stocks look like a fun gamble right now.
Like Yaister pointed out, big banks are usually great with reliability.

I have heard good things of Interactive Brokers, too. Sadly, there aren't many broker options in Canada.
Controller -- CPA, CMA
HVAC Industry -- Lennox dealer
Deal Addict
User avatar
Mar 23, 2003
4365 posts
1106 upvotes
Hamilton
questrade is safe.
reliable it is not.
Last week Monday morn I believe it was down on market open!!!!
That is nuts
Check their twitter feed.
For some, that is a crucial time and can mean $1000s or more dollars affected.
Good for buy hold and forget though as long as you meet the min investment to avoid inactivity fee.

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