Questrade Reviews and Ratings

Rating: 2.5 out of 10

Score

2.5 out of 10

Reviews

4 Reviews

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....

Rating: 1 out of 10

Incentivized

November 9, 2022

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

Likelihood to Recommend

I feel that Questrade was a completely waste of time! In my experience, they couldn't onboard me for a few weeks, then I wired them 25k, which they refused to deposit, requesting additional documentation. I sent the documents on the same day, they were "pending" for two weeks. In my experience, I followed up with their support, they returned a canned email. Eventually, the money was returned back to me, the documents are still "pending" as of this writing, months after submitting.

Verified User

General Manager in Information Technology (1-10 employees)

Vetted Review

1 year of experience

A good tool for Trading and Portfolio Management

Rating: 8 out of 10

Incentivized

January 23, 2022

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.

Likelihood to Recommend

It helps me in managing my Canadian portfolio which includes stock-specific investments and ETFs as well. They charge no commission or very little commission on some specific trade.

Rajat Miglani

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

Vetted Review

3 years of experience

Personal review of Questrade

Rating: 9 out of 10

Incentivized

January 12, 2022

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.

Likelihood to Recommend

Questrade is very well-suited for personal investing, both on registered or unregistered accounts. Questrade will do the registration work for you for its registered accounts, which is a nice plus. Questrade is well-suited for beginners who are looking to get into investing as its interface is very easy to follow. Some scenarios where Questrade may be less appropriate are for those who rely on technical trading indicators as this is not a free feature on Questrade, as you get delayed quotes on the basic Questrade. Further, if you are going to be making a lot of trades and will have to report taxes, Questrade may not be ideal as the tax reports do not show ACB, and thus, this would be up to the trader to track themselves and report on.

Verified User

Analyst in Finance and Accounting (51-200 employees)

Vetted Review

5 years of experience

Questrade is the best and affordable trading platform

Rating: 10 out of 10

Incentivized

November 17, 2021

Use Cases and Deployment Scope

I use Questrade for my stock and options investing. The platform is easy to use and has low processing fees, so even if you're investing with small amounts, you can still make profits, without losing your gains with investment fees. The phone app and desktop version work very well together.

Pros

Tracking investments
Alerts
P & L

Cons

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

Likelihood to Recommend

Questrade is best suited for the new investor, that can invest in stocks that they know. Options investing is also available, but only for those that understand options investing.

Michael Levitt

Chief Burnout Officer in Corporate at Breakfast Leadership Network (1-10 employees)

Vetted Review

2 years of experience

View profile

Loading Reviews List....

Home
,
Online Trading
,
Questrade
,
Reviews and Ratings

Personal review of Questrade

Rating: 9 out of 10

Incentivized

January 12, 2022

Use Cases and Deployment Scope

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.

Likelihood to Recommend

Verified User

Analyst in Finance and Accounting (51-200 employees)

Vetted Review

5 years of experience