Investing

Is Quest Trade safe?

  • Last Updated:
  • Apr 8th, 2020 3:44 pm
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Member
Jul 16, 2019
322 posts
304 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
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Jun 15, 2005
2098 posts
1966 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
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Mar 12, 2014
1576 posts
1808 upvotes
Montreal
Started using them 2 weeks ago, cheap trx fee but no forever hold or waiting list like Wealthsimple free trade thing
Member
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Apr 6, 2020
269 posts
361 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.
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Member
Jun 29, 2005
494 posts
65 upvotes
just pure equity trading, it's ok. reliable would be with the big banks, IMO.
Member
Jul 16, 2019
322 posts
304 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.
Member
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Apr 6, 2020
269 posts
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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.
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Mar 23, 2003
4671 posts
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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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