Posted on Saturday, 15th October 2011 by Toby Duncan
Questrade, based out of both Vancouver and Toronto, Canada, stands as one of the most popular stock trading agencies in the country.
Their services operate on many national markets, including the American one, which controls much of the world’s economy. Although their services are extended to anyone, they’re predominately a way for Canadians to tap into the US stock exchange.
Questrade serves as a broker, hooking up potential investors or small investment firms with stocks, bonds, funds and so on. Their online platform points the consumer in the right direction and helps them assemble their portfolio.
Their website provides the consumer with multiple options, but most importantly it allows easy set up of a new account. On the front page you can quickly set up and fund an account to be up and ready as soon as possible.
Questrade includes several tutorial services that make the investing process easier and that might help a new trader figure out what to do. It’s more geared towards those who aren’t necessarily high in the ranking as far as trades go. But it’s also not necessarily just for newcomers, either.
Before beginning your trading you can go to a particular spot on their webpage that runs through the basic outline with you. It tells you what you need to be looking for, when you need to be buying, when you need to be selling, and so on, featuring relevant graphs and videos to help through the process.
When you get ready to dive right in the process becomes incredibly simple. In fact, Questrade prides itself on being not only easy to use but also cheap—in many cases you’re able to buy and sell shares for as low as one cent, which many broker sites don’t accommodate or even allow.
Furthermore, they have implemented several approaches that would minimize the amount of money that goes to the broker, specifically with regards to mutual funds. They’re on your side when it comes to these types of funds, and they often offer services with a less than 1% commission, which you’d be hard-pressed to find elsewhere.
Because they’re a prominent business they have a high influx of customers which allows them to keep their broker fees down as well. Because they’re larger, they take a smaller percentage from a larger number of people, allowing them to stay afloat without cutting into what’s your money.
And what’s perhaps their biggest and best feature is their “lightning fast” trades. Their trading system, which is set up electronically, enables near-instant transactions so that you don’t lose your advantage or buy or sell a stock at the incorrect time. On top of that you get instant trade verification marking every single transaction so you can keep an accurate log of where your portfolio is heading and where it has been.
Unlike some services you don’t need a huge chunk of change to get investing—you can start for a very small fee (which, essentially, is up to you, based on how much you feel you’re willing to spend).
Reviews of Questrade frequently outline the service’s extremely cheap commission fee, which is extremely favorable to consumers. However some people complain about the accessibility of the web site. Complaints range from it overall not being user-friendly to their being glitches, and many people take umbrage with the fact that you need several different passwords to protect your account.
At any rate, Questrade is generally seen as a strong trading source in the Canadian industry, but also in the US as well, since it operates heavily off of the US market.
Tags: Questrade, Questrade Review
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