Questrade offers a variety of different account options. These include the Individual Forex and CFDs Account, Joint Forex and CFDs Account, Individual Margin Account, Joint Margin Account, Corporate Account, and the TFSA Account.
Questrade at a glance
| 🔍 Brokers Name | Questrade |
| 📍 Headquartered | Canada |
| 📅 Year Founded | 1999 |
| 🏛 Regulating Authorities | The Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF). |
| 🌐 Countries not accepted for trade | United States |
| ☪️️ Islamic Account (Swap Free) | No |
| 📒 Demo Account | Yes |
| 💻 Institutional Accounts | Yes |
| 💻 Managed Accounts | Yes |
| 📊 Maximum Leverage | 1:20 |
| 💰 Minimum Deposit | $1000 |
| ZAR | R16 000 ZAR |
| 💳 Deposit Options | Electronic fund transfer Electronic wallets (Interac Online) Certified cheques Visa debit card / Questrade's instant deposit |
| 💳 Withdrawal Options | Electronic fund transfer Electronic wallets (Interac Online) Certified cheques Visa debit card / Questrade's instant deposit |
| 📉 Platform Types | IQ Web-platform IQ Edge (desktop-based) |
| 📲 OS Compatibility | Windows, PC and Mac OS, mobile for Android and IOS |
| 📊 Tradable Assets | Stocks ETFs Forex Funds Bonds Options CFDs |
| 🌐 Languages supported | English, French, and Mandarin |
| ☎ Customer Service | 24 hours a day /5 days a week |
Min Deposit
USD 1000
Regulators
IIROC
Trading Platform
IQ Edge Platform, Proprietary Platform
Crypto
No
Total Pairs
110
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Questrade Account Types Revealed – A Key 11-Point Quick Overview
- ✅Questrade at a glance
- ✅Questrade Overview
- ✅Questrade Account Types
- Questrade Account Features
- How to open a Questrade Trading Account – Step by Step
- Questrade Demo Account
- Questrade Islamic Account
- Questrade Pros and Cons
- Questrade Customer Reviews
- Final Thoughts
- Frequently Asked Questions
Questrade Overview
Established in 1999, Questrade is a well-regarded Canadian online Forex broker that provides access to a wealth of popular asset classes at extremely competitive rates. As such, spreads on Forex and CFDs are offered as low as 0.08 pips, while commissions are charged at variable rates depending on the instrument traded.
Clients of Questrade have access to Stocks, ETFs, Forex, Funds, Bonds, Options, and CFDs, which can be traded on two advanced proprietary platforms. The IQ Edge Platform from Questrade provides a fully customizable trading environment, advanced order types, and other built-in features that make this downloadable platform a smart option for traders seeking a more advanced trading environment.
The Questrade Global platform offers personalized watchlists with fast access to the markets on award-winning trading software. Questrade also provides a broad selection of additional third-party trading tools, including the Intraday Trader tool and access to an IPO Centre.
Questrade offers a variety of different account options. These include the Individual Forex and CFDs Account, Joint Forex and CFDs Account, Individual Margin Account, Joint Margin Account, Corporate Account, and the TFSA Account. A demo option is available that allows users to evaluate the trade features of the broker’s trading platforms along with the trading conditions for each account. Questrade does however not have an Islamic Account offer.
An account can be opened with Questrade with a minimum deposit of $1000, which is somewhat higher than the deposit requirements of many other brokers. To this end, Questrade appears to position itself more towards experienced investors and traders who wish to invest with higher sums of money, and who will certainly enjoy the broker’s advanced trading features and excellent customer support.
Questrade Account Types
Questrade offers a variety of different account options. These include the Individual Forex and CFDs Account, Joint Forex and CFDs Account, Individual Margin Account, Joint Margin Account, Corporate Account, and the TFSA Account.
| 🌐 Individual Forex and CFD Account |
| 🌐 Joint Forex and CFD Account |
| 🌐 Individual Margin Account |
| 🌐 Joint Margin Account |
| 🌐 Corporate Account |
| 🌐 Tax-Free Savings Account |
Questrade Account Features
Individual Forex and CFD Account
| ▶ Invest for the potential high rewards |
| ▶ Access the global markets |
| ▶ Trade 24 hours a day |
| ▶ Trade with low spreads |
| ▶ Access a market that is much larger in scope than the Canadian stock market. Enjoy high liquidity and low transaction fees |
Joint Forex and CFD Account
| ▶ Enjoy all the benefits of an individual account |
| ▶ Pool investments for a bigger stake in the markets |
| ▶ Potential to mitigate risk or losses |
| ▶ Streamline contributions to your account |
| ▶ Open a Forex & CFDs account in a group of two or three to trade the global markets |
Individual Margin Account
| ▶ Invest with flexibility and convenience |
| ▶ Get the extra buying power |
| ▶ React quickly to market opportunities |
| ▶ Place advanced order types |
| ▶ Steer your investments exactly how you like. Use your assets and investments as leverage for new and bigger opportunities |
Joint Margin Account
| ▶ Enjoy all the benefits of an individual account |
| ▶ Pool investments for a bigger stake in the markets |
| ▶ Take on more investment opportunities |
| ▶ Streamline contributions to your account |
| ▶ Open a margin account with a friend, spouse, or trusted partner to increase your buying power by leveraging the assets you already own |
Corporate Account
| ▶ Enjoy corporate tax rates |
| ▶ Trade all types of investments |
| ▶ Free up cash flow |
| ▶ Grow your excess capital for less |
| ▶ Open an account in your business’s name and the funds and assets in the account are taxed according to the corporate tax rates |
Tax-Free Savings Account
| ▶ Save for short- or long-term goals |
| ▶ Enjoy tax-free growth |
| ▶ Get easy access to your money |
| ▶ Pay no annual fees |
| ▶ Keep every dollar you earn in your TFSA. Invest your money without paying taxes on your interest, dividends, or capital gains |
How to open a Questrade Trading Account – Step by Step
Opening an account with Questrade is a straightforward process that will consist of the following steps:
Step 1 – Visit the official Questrade website and select the option to register.
Select “Open An Account” from the homepage to proceed to the application process.
Step 2 – Select preferred Questrade account type
Select your preferred account type. Opening multiple accounts at once is possible
Step 3 – Create Questrade id
Give your personal information, which includes, First name, last name, email address, and country of residence.
Step 4 – Provide Personal, Employment, Financial, and Citizenship information
Questrade requires the following information before opening an account which includes country of residence, citizenship, Social Insurance Number, and employment information
Step 4 – Set up Questrade account
The next step will require traders to click on “Set up account” to begin the process of setting up a Questrade trading account.
Step 5 – Answer Questrade account questions
The first step requires traders to answer Questrade questions such as the account details consent and communication, persons with financial interests and agreements
Step 6 – Sign and submit Questrade documents
Sign and submit the Questrade terms and conditions agreement documentation.
E-sign Questrade documents required:
Step 7 – Fund Questrade Account
Review and confirm the information. Read and accept the terms and conditions
Deposit funds into your account to start trading.
Questrade Demo Account
Questrade Trading and IQ Edge offer you access to trading stocks, ETFs, and options on a wide variety of North American markets including the TSX, NYSE, NASDAQ, and more. You start with $500,000 CAD and USD in virtual cash, and the practice account uses simulated market data from the previous trading day.
| 🌐 Questrade Demo Account Features | 100% Risk -🆓 |
| $500 000 Virtual Cash | |
| 90 Day Period |
Questrade Islamic Account
Questrade does not offer the option of an Islamic Account at this stage. This is a drawback since an Islamic account fulfills a significant role for traders of the Muslim faith. Also known as ‘no swap accounts,’ Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law.
| No Islamic account on offer |
With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide. Essentially, an Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.
Questrade Pros and Cons
| ✔️ PROS | ❌ CONS |
| Access to a variety of popular asset classes | High minimum deposit |
| Advanced trading platforms | No Islamic Account is available |
| Tight spreads and competitive commissions | |
| Well regulated forex broker |
Questrade Customer Reviews
Best Broker
Questrade is the best broker..Fast depo, fast profit & fast withdraw .. good job ..100% Recommended! – Thomas
Must Join
I double my investment in 6 months, with excellent customer service! Good CFD and ECN trading – Minnie
Questrade’s Affiliate Program
I enjoy the opportunities to earn an income through Partnership programs offered by forex brokers, Check it out! – Bob
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You might also like: Questrade Minimum Deposit
Min Deposit
USD 1000
Regulators
IIROC
Trading Platform
IQ Edge Platform, Proprietary Platform
Crypto
No
Total Pairs
110
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Final Thoughts
Overall, Clients of Questrade can enjoy a well-regulated and advanced trading environment, however, the broker does not offer any bonuses to either new or existing clients.
Frequently Asked Questions
Can traders from South Africa open a Questrade trading account?
Questrade is accessible to traders in South Africa
Does Questrade have ZAR accounts?
No, Questrade does not offer accounts in ZAR.
Is Questrade a good broker to choose if I am new to trading?
Questrade offers a fair-trading environment for most types of traders.
How many instruments can I trade with Questrade?
Questrade provides access to a wide range of popular asset classes, which consist of the following:
- Stocks
- ETFs
- Forex
- Funds
- Bonds
- Options
- CFDs
Does Questrade offer leverage?
Yes. Questrade offers variable leverage depending on the instrument traded, with the maximum available ratio being 1:20.
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