About Questrade
Company Overview
Questrade, Inc. is a Canadian online brokerage founded in 1999 and headquartered at 5700 Yonge Street Suite 1900, Toronto, Ontario M2M 4K2. It operates as an internet broker serving Canadian residents, offering a wide range of investment products and account types.
The broker is regulated by the Canadian Investment Regulatory Organization (CIRO), which oversees its derivatives trading license in Canada. Despite its long history, Questrade's employee count is not publicly disclosed.
Regulation and Safety
Questrade holds a Derivatives Trading License (EP) from CIRO, the self-regulatory organization for Canadian investment dealers. This regulation provides a baseline level of client protection and compliance with Canadian securities laws.
While regulatory oversight exists, prospective traders should note that no broker is entirely risk-free. FXCanary’s overall risk score for Questrade is 26/100 (Guarded), indicating a moderate level of concern, partly due to negative user feedback and complaints regarding fund access and support.
Investment Products
Questrade offers a diverse selection of investment products including stocks, ETFs, options, forex (FX), contracts for difference (CFDs), and more. The broker aims to cater to both beginner and experienced investors with a mix of self-directed and managed solutions.
Specific details on leverage, spreads, and the full list of instruments are not fully disclosed in the provided data, but the broker emphasizes access to multiple asset classes within a single account.
Account Types
Questrade provides numerous account kinds customized to various financial objectives. These include individual taxable accounts, tax-sheltered accounts (TFSA, RRSP, RESP), corporate accounts, and margin accounts.
The broker also offers a QuestWealth managed portfolio service, which invests client funds based on risk tolerance. Account opening is done online, but specifics on minimum deposits and fees are not provided in the available data.
Platforms and Tools
The broker provides a proprietary web-based platform and mobile app for trading and portfolio management. Some users find the web version suitable for long-term investing, though complaints about technical glitches and outdated features are common.
Questrade also supports the use of third-party charting tools, but the platform's execution speeds and reliability have drawn criticism from active traders.
Funding and Fees
Funding methods include electronic funds transfer (EFT), wire transfer, and bank drafts. Deposit times can vary, with users reporting delays that impacted trade entries.
Questrade charges commissions on some trades and has a fee schedule that includes account inactivity fees and transfer-out fees. Precise spread data is not available, but user reviews indicate that costs are a concern for many.
Customer Support
Customer support is available by phone, email, and live chat. The quality of support varies widely: some users praise individual agents for being helpful, while a large majority describe long wait times, unhelpful responses, and difficulty reaching knowledgeable staff.
FXCanary’s analysis of user feedback finds that support-related complaints are the most frequent issue, accounting for 126 mentions in reviews, with a 108:13 negative-to-positive ratio.
Overview compiled by FXCanary from regulatory records and public data. full Questrade review