Why should you use Questrade? I have had many financial transactions with brokers in the past and for everyone I have dealt with, I always had similar responses: “I will never go through that broker again”. There is a reason for this. Most of my financial dealings were handled by other brokers, but I was never comfortable because my experiences were less than satisfying with most of them. I use Questrade myself for all myTFSA, RRSP, family allowances, and a non-registered account.
In this Questrade Review, l share why consider Questrade as the best Canadian discount brokers in the business. In one simple word, they are reliable. Even when markets around the world are in a slump, or your markets are volatile and unpredictable, you can trust the research and analysis that are provided by the company’s platform and their investment plans for the Canadian residents. What this means is, you will not only get a well-rounded view of the financial industry in Canada, you also get the latest information about stock movements that will most likely affect you.
A big reason why I like Questrade so much is because it has an excellent customer support system, which allows me to get in touch with their live broker 24 hours a day, 7 days a week. Their other features include an extensive range of tools that will help you get started on the right foot. Such features as calculators, graphs, indicators, calendars and charts, and support for over 200 different currencies, are among the most important features I find important. They also have a range of analytical tools that will help you make sound investment decisions. Another feature that is very useful is the ability to sign up for paid subscriptions, which will allow you to receive newsletters, investment tips and news.
Now let’s take a look at what the average Canadian investor should know about the brokerage firm. With Questrade, you are getting excellent service at a very affordable price. The platform is very user friendly, even for beginners. You can open a new account absolutely free of charge, as long as you have a Canadian bank account number (or the equivalent). This can be done right online, through an easy-to-follow form, which takes just a few minutes to complete.
As far as investment goes, Questrade offers four different investment options. One of these options is the equity mutual funds’ option, where you will get shares in a basket of stocks, with a variable rate of return. Another option is the Growth Option wherein you will get EFTs from nine different mutual funds and an equal amount in cash. Lastly, you have the Option Forex, which is where you will trade currency pairs including the US dollar, the Euro, the Japanese yen and the Australian dollar.
Investing in Questrade requires that you are a Canadian citizen or have at least one year of residency already established. However, this isn’t always the case. If you meet these criteria, you can invest in Canadian stocks and options with no problems. However, if you happen to be a U.S. or offshore resident, you may not be able to invest online as easily or safely as Canadian citizens. Fortunately, however, Canadian citizenship does come with other benefits, such as free banking and tax services.
Also, as part of the Canadian securities exchange services deal, Questrade offers a full list of stock brokers and financial institutions that work with them. This makes it extremely easy for new investors to choose an online broker. This way, they don’t have to spend hours checking out each one, as they do if they were choosing a personal broker. This means that anyone can benefit from taking advantage of the full advantages of their Questrade trading account, which includes getting regular stock market intelligence.
As mentioned above, you can get advice from advisors on your Questrade account. However, some advisors will give you more advice than others. One advantage of getting advice from your Questrade advisor is that you will know whether you should trade actively or whether you should hold back. You can also get information on how to manage your investments in tax-free savings accounts, as well as how to invest to ensure that you get the most out of your investment. This will allow you to make the most profit, regardless of what type of investment you’re putting your money into.
