In contrast, if you’re placing complex orders, such as stop-limit and trailing stop orders, you can either use Questrade Edge Web or Questrade Edge Desktop. One key difference between Questrade Edge Desktop and Questrade Edge Web is that Questrade Edge Desktop provides more options for customizing multiple screens and widgets. This customization allows active traders to buy and sort through stocks, ETFs, and options faster. How you pick between these platforms depends on your comfort level with trading tools. If you prefer placing simple orders, such as limit and market orders, you can use QuestMobile or Questrade Trading.
Introduction to CFD Trading
It lists a $75 fee for certified cheques, $25 for a stop payment, and $30 if the cheque returns due to insufficient funds. Certificate re-registrations cost $300 and $450 for rushed ones, while certificate deposits face a similar levy of $300 and $400, respectively. A direct registration statement or a custodian deposit or withdrawal face a $300 fee each. Any document retrieval at Questrade costs $20 per document plus courier charges between $10 and $75, depending on the service.
How many forex pairs does Questrade offer?
Clients may open as many sub-accounts as they wish, and there is no minimum deposit, but an account balance of $1,000 is necessary before trading can commence. Specific assets carry a higher minimum investment, explained by Questrade, where applicable. Brokers move an inactive account to a different sub-database, and reactivation may consist of a trader resubmitting a copy of their ID or proof of residency.
CFD expiration
Questrade offers competitive spreads on Forex & CFD trading with an average typical target spreads on the EUR/USD of 0.8 pips on the Questrade proprietary trading platform. On the Metatrader 4 trading platform spreads are considerably higher on the EUR/USD forex trading pair, with an average spreads of 1.7 pips over the same period. As a forex broker, Questrade offers competitive prices on over 55 currency pairs with target spreads starting at 0.8 pips under normal market conditions. Note that the total transaction cost of a foreign exchange transaction is the spread you pay, which may be different from the target spread. Questrade offers the infrastructure to earn money from investing and trading activities. It features active and passive portfolios and its Robo-Advisory division.
It is critical to distinguish that its Robo-Advisory wealth management unit, Questrade Wealth Management Inc. (QWM), is not included in either the IIROC or CIPF. This broker additionally offers 100% reimbursement for unauthorized transactions in a statement of its confidence in deployed security technology and protocols. All self-directed portfolios also have an insurance policy of up to $10,000,000, ensuring most accounts enjoy full protection in the unlikely event that Questrade will go out of business. Overall, this broke maintains a very trustworthy and secure trading environment under the oversight of the IIROC. Questrade is the largest Canadian independent online broker; it also maintains a wealth management unit.
Popular Forex Broker Reviews
Overall, Questrade offers its investors and traders an excellent asset choice. While commission-free trading is not available at Questrade, ETF traders have an offer that gets them half-way there. Buying ETFs at Questrade is commission-free while selling them incurs a fee of just $4.95 in the fixed cost structure. Questrade also has a variable alternative with selling costs of $0.01 per ETF up to a maximum of $6.95. It represents one of the best offers Canadian traders will find.
The first starts with understanding the investment products you want to invest in, such as stocks, ETFs or bonds. This is important because everyone will have a preferred investment instrument they may want to invest in and these investments may have to be traded on a specific Questrade platform. You have started your investing journey and are now getting more comfortable with it. But what if you decide to diversify your portfolio by trading different investment products?
These two platforms are typically for investors who want simplicity and ease of use. If you’re going to trade stocks, ETFs, options, or mutual funds, you can use QuestMobile, Questrade Trading, and Questrade Edge platforms (Questrade Edge Web or Questrade Edge Desktop). Easily place stock and option trades in real time, access investment details, withdraw or transfer between Questrade accounts, and manage your account all in one award-winning brokerage app1.
Questrade is a Canadian broker offering the ability to trade currencies on forex, CFDs, Canadian and US stocks, options and mutual funds on several manual or automated trading platforms. ETF traders at Questrade should consider one additional fee for market data packages. New traders may not require it and determine the free Basic package sufficient. The Enhanced upgrade costs $19.95 per month, but if traders accumulate $48.95 in commissions, they qualify for a 100% rebate. Questrade also features an Advanced option for $89.95 per month, suitable for active professional traders.
It does not cost brokers anything, making an inactivity fee a legal tool to drain the existing client account from the remaining capital. Fortunately, Questrade decided to abandon the Questrade inactivity fee as of October 2020. Before that, it was $24.95 per quarter, but if you had more than $1,000 in your account, made a deposit of $150 during three months, or were under the age of 25, you were exempt.
- Apply technical analysis and annotations in just a few clicks, personalize your watchlists, and get economic releases and alerts.
- Trade currencies, commodities, global stock CFDs and more with low spreads and low commissions.
- New traders should browse the additional costs, but Questrade is very transparent about it.
- Metatrader 4 is one of the most popular forex trading platform around the world.
- Client money remains segregated from our funds and will be unaffected in the event of our insolvency.
Start investing confidently
- Investors and traders have access to three essential research tools provided by Questrade.
- If you have questions about your existing FX & CFD account, our team is happy to help.
- Questrade is compensated for its services from the bid-ask spread.
Whether you want to take your strategy to the next level or try something new, we have the right platform for you. Get fast and easy access to global markets on 15+ international exchanges and high leverage with an award-winning web-based FX and CFD platform letting you trade 24 hours a day. The Metatrader 4 platform offer all tools for automated trading strategies via the MetaQuotes Language 4 (MQL4) or you can create your own Automated Trading System using MQL4. Experience the future of trading with our innovative platforms. Remember, we’re here to empower you on your trading journey, providing the tools you need to navigate the financial markets easily and confidently. If you have any other questions about trading FX and CFDs, you can contact us – we’ll be happy to help.
Best Execution remains unchanged as we owe all our clients a duty of best execution. Questrade, Inc. accounts are protected by the Canadian Investor Protection Fund, to the extent of specified limits. A brochure describing the nature and limits of this coverage is available on request.
Learn about the basics of stocks, adjusted cost basis, and dividend paying securities. You’ll always have access to comprehensive tools, data and info to build your trading strategies. Monitor your investment performance and reports, manage your account, then quickly get back to trading. “Questrade overall appears to be a well run organization and offer the latest technologies to make investing easy.”
Questrade maintains a refer-a-friend campaign together with the My Family questrade forex incentive. The former grants a payment between $25 and $50, while the latter collectively lowers trading fees for all members of the family and close friends. Questrade Global is the exclusive Forex and CFD trading platform, where traders have access to non-Canadian equities. It is available as a webtrader or mobile version and features live charts, economic releases, and research from NewsEdge and Autochartist. Market Intelligence and Intraday Trader are accessible by all clients, regardless of the trading platform. While Questrade does not offer the MT4 trading platform, and no alternative for automated trading solutions exists, the three proprietary versions offer manual traders an excellent trading environment.
Additional information could be necessary, depending on the account type. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Besides trading services, Questrade offers retirement planning. New traders should start with the educational resources, as the product and services portfolio available may appear overwhelming. With management expansion plans to venture into banking, Questrade can become a one-stop solution for all Canadian financial needs. It has the infrastructure in place, with the most significant roadblock provided by the Investment Industry Regulatory Organization of Canada (IIROC), its regulator. It remains outdated and business-unfriendly, mirroring that of the US regulatory environment. Offering an international subsidiary remains one notable oversight at Questrade.
Exchange fees and administration/transaction charges also apply. Read our full explanation and accounting of our research and testing process to learn more about how we test. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.