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Questrade

Score2.5 out of 10

5 Reviews and Ratings

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What is Questrade?

Based in Toronto, Questrade offers solutions for investors with self-directed investing and Questwealth Portfolios, presented as intelligent, lower fee portfolios designed by experts to help the user achieve financial goals.

Categories & Use Cases

Reviews

What users are saying about Questrade.
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A good tool for Trading and Portfolio Management

Rajat Miglani
Test Lead in Information Technology at HCL Technologies (10,001+ employees employees)

Use Cases and Deployment Scope

It helps me to manage my Canadian Investment with no Commissions and fewer brokerages. Tax-loss harvesting also helps me save tax on the capital gain.

Pros

  • Excellent User Interface to trade.
  • Good Integration with payment gateway which allows me to use my debit card.
  • Several type of account options based on the particular's requirement.

Cons

  • They can reduce the pricing a bit.
  • They Should expand their reach to other geographies as well.
  • For Bond Market minimum cap is on the higher side, can be reduced.

Most Important Features

  • Very good investment advisors to help you pick right product.
  • Several Account types to choose from based on the requirements.
  • Nice Payment gateway integration and good User Interface.

Return on Investment

  • Pricing is on a bit of higher side for Portfolio Management.
  • There are no commissions, so that's a plus point for the Platform.
  • Nice Feature to save tax on Capital gain using tax loss harvesting.

Questrade is the best and affordable trading platform

Incentivized
Michael LevittView profile
Chief Burnout Officer in Corporate at Breakfast Leadership Network (1-10 employees employees)

Pros

  • Tracking investments
  • Alerts
  • P & L

Cons

  • Better charts within the app.
  • Dark mode setting.
  • Setting self Limits to margin investing.

Most Important Features

  • Margin accounts
  • daily P & L
  • Notifications

Return on Investment

  • I learned how to trade options with Questrade.
  • Daily P & L to track my investment portfolio performance.
  • Ability to trade before and after the market opens/closes.

Alternatives Considered

robinhood

Other Software Used

HubSpot CRM, TradingView, Google Authenticator

In my opinion, don't buy into their marketing! I feel Questrade is a complete waste of time and don't stand behind their promise of customer service. In my experience, I was ignored for months....

Verified User
General Manager in Information Technology (1-10 employees employees)

Use Cases and Deployment Scope

Questrade is a trading platform that is supposed to help with achieving this goal. It is a discount brokerage that is supposed to help trading for low rates on international markets.

Pros

  • Marketing
  • Affiliate marketing

Cons

  • Onboarding
  • Customer service
  • Online experience
  • Document validation
  • Identity verification

Most Important Features

  • Independent trading
  • Cheap trading
  • Freedom

Return on Investment

  • In my experience, Questrade has delayed me for months! I feel it's a waste of time
  • I don't know how they deserve such high ratings, maybe they buy marketing and reviewers. In my opinion, don't buy into their sales pitch!!!

Personal review of Questrade

Incentivized
Verified User
Analyst in Finance and Accounting (51-200 employees employees)

Use Cases and Deployment Scope

I use Questrade to manage various portfolios, on both registered and unregistered accounts. The scope of my use case is being able to buy/sell securities, manage the various portfolios, and track monthly realized/unrealized P&L to advise on future investment strategies/decisions. Questrade makes this all very simple to do with its easy-to-follow user interface and great customer support.

Pros

  • Easy to follow user interface.
  • Monthly reports are very detailed and contain visuals to aid in the understanding of performance.
  • Questrade has a very responsive customer support team.
  • Questrade has low fees.

Cons

  • In Questrade's annual tax reports, they do not currently show the ACB of the securities that were purchased/sold. This would aid in tax reporting greatly.
  • Questrade should be a bit more transparent on its fees for FX conversion, margin interest, etc. Currently, it is located on a single page that you have to actively search for -- otherwise, the fees can appear hidden.

Most Important Features

  • Ability to choose pre-determined options strategies rather than having to create them yourself from scratch.
  • Ability to track your monthly performance through Questrade's reports.
  • Ability to track the Greeks for options.
  • Ability to create a watchlist with custom notifications.

Return on Investment

  • Questrade's instant deposit feature has had a positive ROI as it enabled capital to be deployed instantly, which led to positive-returns intraday. Prior to instant deposit, one would have to wait up to 2-5 days for their deposit to show up on the account.
  • Questrade's monthly reports had a positive impact as they visually displayed portfolio performance in a visual manner, using both graphs and charts to aid in their explanations.