# Qtrade Discount Broker



## jamiechese (Jul 13, 2010)

Hey everyone, 

So recently I sent out my application to open up a Qtrade TFSA Investment account. I had done enough research on the company to know that they have very good tools for investing and decent customer support (personal experience). Their trade commissions are still high but are lower than bank fees (which I like ). They also got top discount broker in the Globe and Mail article.

My curiosity has gotten the better of me though and I am interested to know if anyone else has used Qtrade for their investing and whether or not you have had a good or bad experience with them. 

I was actually just in British Columbia this past week and walked by the building their office was in, which is kinda humorous because I could have just dropped my application off, but considering all common sense left me when I mailed the letter off in Ontario I have to wait a lot longer for my account to be open haha!

So questions, comments, experiences! Lets hear em!


----------



## davext (Apr 11, 2010)

I've been using Questrade for more than a year. I usually using their online instant messaging if I have any issues. Applications make take a while and you might have to ask them to check on it if it takes too long, it's administration that takes the longest. 

Also, I transfer my funds regularly using online requests. When I put them in on non-business days, they never get processed EVER. Not 2 days, or 5 days, NEVER. So I only do them on business days and then they get processed the next day. It's kind of weird but that's how it's worked for me. 

Did you know there is a separate site to track your dividends? You'll have to set that up as well once your account is set up. This is the site:

https://online.penson.com/

The commission charges make up for any short comings that I've had so far. I also use them for mutual funds and they have recently enabled bond trading as well.

https://online.penson.com/(s1btj34512axes45ijkbng45)/Default.aspx?LoginInProgress=YES


----------



## HaroldCrump (Jun 10, 2009)

The poster is talking about Q-Trade, not Questrade - entirely different brokerage.
http://www.qtrade.ca/investor/en/visitormain.jsp
vs.
http://www.questrade.com/


----------



## davext (Apr 11, 2010)

oops, thanks Harold!


----------



## Guest (Oct 19, 2010)

I'm with Qtrade ... RSP, cash, and TSFA accounts. Trades are very fast. For DRIPs I simply fax the forms. If I decide to buy in my cash account and don't have the cash there, I simply submit a transfer request from my financial institution and can make the buy immediately ... no waiting for the cash to get there. So what I tend to do is transfer all cash form the cash account to my financial institution savings account until I need it. And right now, until I'm more comfortable with the market, that's where my cash is ... and my RSP and TSFA are also currently cash ... fwiw.


----------



## Addy (Mar 12, 2010)

This may seem like a weird question, but for those who use q-trade, since they list Canadian and US markets (to choose from) I'm confused why stocks such as AMTL aren't showing up. Any ideas? I'll contact qtrade if need be, but I was curious if anyone who uses them could give me some insight.


----------



## Kim (Jan 10, 2011)

I am with them as well - great service - meant for more serious traders than myself. 
Discount? Not so sure about that? I see some of their fees that could do with a bit more discounting  

Is it just me or does it take a looong time for posts to show on this forum ( like 24 hrs )

I thought I read that Canadian Tire was offering 3% on their TFSA.

Edited to read: Hey ignore "time for posts to show" - it worked right away this time !!!


----------



## plen (Nov 18, 2010)

Kim said:


> Is it just me or does it take a looong time for posts to show on this forum ( like 24 hrs )


When you first join the forum, you're put into a status that requires your posts to be approved. After a bit of posting the administrators can determine that you're not a spammer or selling anything and set your permissions so your posts are immediately available. Without this step, the forum would be inundated with spam.


----------



## canuck1 (Apr 29, 2010)

I am with Q-trade as well (Not Quest Trade).

I have been very happy with them. Website interface is pretty friendly and research material (including morningstar reports) is very useful.
Trading commissions are pretty reasonable compared to TDW.


----------

