Questrade

Questrade Minimum Deposit Amount To Open Account in 2019


Questrade minimum investment to open brokerage account, TFSA or RRSP. Minimum balance, initial deposit amount requirement.


Questrade Minimum Investment Amount

Questrade minimum investment to open brokerage account $0
Questrade minimum amount to open brokerage margin account $2,000 in cash and/or securities
Questrade minimum initial deposit to open TFSA, RRSP $0
Questrade minimum initial deposit to open Forex & CFDs $0
Questrade minimum balance requirement for brokerage or TFSA, RRSP none
Questrade minimum to start investing $1,000

Promotion

Get $50 in free trades with new Questrade account.

Open Questrade Account


Questrade Overview

Questrade is a popular Canadian broker that supports trading in both the Canadian and American securities markets. This article will provide an overview of this popular Canadian broker and go over the requirements for opening an account. We’ll start with taking a look at the types of securities you can buy with Questrade.

Investment Options

Questrade’s platform supports trading in North American equities, ETFs, mutual funds, individual bonds, options contracts, forex, and contracts for difference. Their mutual fund offerings include funds from popular managers like Fidelity, Invesco, PIMCO, and BlackRock. Questrade’s ETF offerings also include both American and Canadian ETFs. We were surprised to see that Questrade doesn’t currently support trading in the futures markets.

Commissions

Questrade’s commission is variable based on the size of your order, with stock and ETF trades costing $0.01 (all prices in CAD) per share with a $4.95 minimum and $9.95 maximum per trade. For ETFs though you are only charged on sells; buys are always free. U.S. and Canadian options trades are a bit higher at $9.95 plus $1 per contract. Questrade offers access to some foreign options as well, and commissions on these are calculated as 1% of principal with a $195 minimum. Your Questrade account also gives you access to precious metals and fixed income markets. Commission for precious metals trades is $19.95 and for bonds the commission is built in to their bid/ask spread.

Questrade Minimum Account Requirements and Fees

Questrade doesn’t have an account maintenance fee or required minimum balance for their standard self-directed accounts, but certain types of trades have requirements. For example, if you want to participate in an IPO or buy precious metals, these trades have a required minimum amount of $5,000. Questrade offers managed accounts as well, which do have a $1,000 minimum balance requirement. This service also has an annual management fee between 0.35% and 0.70% depending on the size of the account.

Fees

Level I quotes for the Canadian and American exchanges are free, and Questrade offers a $19.95 monthly subscription for an advanced data package that includes level II quotes if you are interested. And they will reimburse you for this subscription fee if you spend at least $48.95 a month in commissions.

Trading Platforms

Questrade offers quite a few options when it comes to how you place trades and interact with your account. They offer a web browser, desktop platform, and mobile app in addition to a platform that is specifically designed for trading forex and contracts for difference. While their browser platform is best suited for your equity and options trades, the forex platform makes trading currencies easy with its customizable charts that automatically update to whatever currency pair you’re watching and include drawing options and technical indicators.


Questrade


Questrade’s desktop platform (called IQ Edge) is also very robust and includes such features as a watchlist, stock screener, advanced charting, and a position P&L calculator. IQ Edge also includes a helpful market movers window that shows the market’s top gainers and losers in real time. The last option you have for managing your Questrade account is best for when you aren’t near your computer. Questrade has two mobile apps – one for forex and another one for stocks and options – which are both easy to use and compatible with Apple and Android devices. The apps look and feel much like the browser platform, but stick to more basic features without some of the louder bells and whistles.

uestrade Minimum Deposit Summary

We would recommend giving Questrade a try. They have some of the most robust trading platforms and features we’ve seen. Although paying for level II data is a turnoff, this fee can be avoided for even those who place a modest number of trades each month.

Questrade Promotion Code - click link below to get $50 in free trades:

Open Questrade Account


Continue Reading