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Questrade Broker

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Review of the broker Questrade

Questrade-Broker Review

Questrade is a very complete an regulated Forex/Stock broker from Canada that offers many instruments to trade including currency pairs (Forex), stocks and options based on stocks. This company offers direct access to the main stock exchanges in United States and Canada. Their services are specialized for professional and beginners traders.


Type of broker

Questrade is a Non Dealing Desk and ECN broker.


Regulation

Questrade is registered  as an investment dealer with the Investment Industry Regulatory Organization of Canada (IIROC). Also, this broker is a member of the Canadian Investor Protection Fund (CIPF).


Country of origin

The headquarters of Questrade are located in Canada.


Trading Instruments

This broker is charaterized by offering a wide variety of instruments for trading which are described below:
-Forex Market: 30 currency pairs in the spot market, from the most important like the EUR/USD and the USD/JPY to other more exotic such as the USD/SEK.
-Commodities:.Questrade allows to invest and trade with Gold in the spot market. Gold is one of the most important and traded commodity in the market and can be usedto speculate on the price or as a form of long-term investment.

-Stocks: In Questrade, the client has the option to trade directly with stocks (not only throgh derivatives like in other brokers). The stocks offered by Questrade are from the US Market (NYSE, NASDAQ and OTCBB) and the Canadian Market (Toronto Stock Exchange, Montreal Exchange, TSX Venture Exchange and Canadian National Stock Exchange.).

-Options: Stock Options based on US and Canadian stocks. In this case, Questrade offers American-Style options.

-Mutual Funds: Currently, this broker offers thousands of mutual funds from Canadian fund companies.

-Fixed Income Securities: Also, the client of Questradecan invest in fixed–income securities such as bonds, term deposits and guaranteed investment certificates (GICs). The are no commisions on fixed income trades.


Trading Accounts​

Questrade has a unique trading account which allows to trade with all the instruments offered by the company. With this account the trader has the possibility to choose among several trading plataforms. Depending of the type of financial instrument that the trader wants to trade, the minimum deposit to open an account varies as follows:

  • Forex market:$1000.
  • Stocks and options: $1000.
  • Gold: $1000.
  • Option spreads: $5000.
  • Uncovered Options: $25000.

Demo Accounts

This company offers a trial with each trading plataform for a period of 30 days/plataform.


Trading Platforms

Questrade offers five professional trading plataforms with different features for its clients, according to their needs. Also, each plataform is designed specifically to trade with different financial instruments such as Forex or Stocks for example. The main characteristics of each of these applications are described below:

-QuestradeFX: It is an online application that requires no download (a web based plataform), which was designed to trade in the Forex market. This platform provides live quotes and a almost instantaneous orders execution. All trading funtions and market data are included in one simple interface of a single screen. This interface includes a “dealing box” in which transactions can be executed with a single click in the major currency pairs. It also features an area for monetary management, price charts with built-in indicators, updated news on the market, historical record of trades and an analysis function for the trading margin.

-QuestradeFX Pro: This is a web based online trading plataform which was designed for beginners and experienced traders who are interested in the Forex trading. This application offers multiple multiple market analysis tools including advanced charts and more than 70 technical analysis indicators, among which we can mention some very interesting such as Fibonacci and Ichimoku projections and extensions for example. One of the main advantages of QuestraderFX Pro is that it has a fully customizable interface so the traders can this plataform to their trading style and the instruments of their interest. It also has an almost instant order execution and a advanced trading system based mainly on the charts. This plataform includes functions for entry and position management.

Questrader IQ Edge: This is a downloadable and very complete trading platform (it requires installation) which is designed to trade efficiently in the securities markets of United States and Canada. It has a customizable, intuitive and user friendly interface. It is an application that incorporates multiple advanced features such as different types of entry orders, updated quotes with market depth (Level II), advanced graphics tools for market analysis (including technical indicators), windows for orders and open positions, lists of stocks to monitor and track and others. One of its biggest advantages is that it allows a complete an advanced management of orders according to various factors such as order types, transaction volume, order execution, duration and others.

-Questrader IQ Web:This is a web based application which requires no download and provides direct access to the main stock exchanges in the U.S. and Canada. It was designed as a trading plataform that allows direct transactions with stocks and options based on stocks of both markets. It has a friendly interface, advanced order management, updated market news, advanced graphics, real-time data on stocks, options, indices and ETFs and Level 1 quotes. It also has a funtion that allows the trader to track up to 58 stocks and another funtion that lets the client check the general trend of the trades made by Questrade clients.

Questrader IQ EssentialIt is an efficient and easy to use trading platform which has a friendly and customizable interface. It is an application designed to trade with stocks and options based on stocks of U.S. and Canadian markets. It has multiple functions such as customizable charts with technical indicators, different types of advanced orders and Level 1 quotes from all major markets in Canada and the United States. This plataform offers the possibility to manage multiple accounts in real time.


Payment Options

The trading accounts can be founded through the following methods: bank wire transfer, certified cheque, uncertified cheque, online banking, from another broker and stocks certificates.These deposits can be made in USD and CAD.


Main Advantages of Questrade

  • Questrade is a fully regulated broker.
  • It offers a wide variety of instruments for trading and investment.
  • This broker allows to trade directly with stocks of the US and Canadian market, and not only through financial derivatives such as options or CFD for example.
  • Questrade offers five different trading plataforms which are specifically designed to trade with different instruments.
  • It is an ECN broker which means that if offers direct access to the main market liquidity providers.
  • In the case of Forex trading, it offers slow and variable spreads.
  • The client of Questrade has access to a reseach tool that offers stock market research, educational webinars, financial reports, and real-time market news through the account´s plataform of the customer (myQuestrade).
  • Questrade offers advanced trading education to its clients through free seminars and webinars an a website of its property called Online Trading Academy.
  • This broker offers regular bonuses and promotions to its clients.
  • The client has the possibility to buy, hold and trade real gold in margin accounts and registered savings plans.
  • Questrade offers the possibility to earn money by promoting its services through an affiliate program called Questrade Affiliates. The affiliation to this program is free.
  • It offers a lot of trading resourses through its website such as market news, live quotes and price charts.

Main Offers of Questrade

  • With the opening of a trading account, Questrade offers the possibility to trade without paying any feeds or commisions for the equivalent of $50. In this way, the investor can trade for free for a period of time.
  • Also, if a trader opens a Questrade Forex trading account with a minimum deposit of $2500 this broker will give him a professional Forex self-study course from Online Trading Academy.

Other Categories of this broker

  • ECN Broker.
  • Stock broker.
  • Options broker.
  • Gold Broker.
  • Mutual funds investment company
Company Questrade Inc.
Minimum account size $1000.
Minimum lot size(FX) 0.1 lot.
Maximun Leverage(FX) The rate is determined by IIROC of Canada, varies according to the currency pair and is subjet to change in any time. For the major currency pairs the the maximum leverage offered by this company is 1:25 (Margin rate of 4.00% for each trade).
Spread&Commisions
  • Forex Market: Spreads as low as 1-2 pips for the major currency pairs such as EUR/USD and USD/JPY. This values can vary depending of the interbank liquidity.
  • Stocks: Commisions of 1¢ per share, $4.95 minimum / $9.95 maximum for each trade.
  • Options: Commisions of $9.95 + $1.00 for each contract.
  • Gold: $19.95 for each trade, no matter the amount of traded gold.
  • Mutual Funds: $19.95 per online trade.
Link to the website Questrade Website
Open an account

Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max

If you want more information about the trading conditions offered by Questrade to trade with stocks and stock options please use the following link:

-Stocks and options trading with Questrade

 


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