Author Topic: Questrade ?  (Read 3848 times)

Kitsunegari

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Questrade ?
« on: December 10, 2015, 10:11:38 AM »
I ask on my Facebook if any of my friends here in Canada invests with Vanguard, and one of them wrote me that she invests on Vanguard via Questrade. Does anyone have experience with this company? What's their reputation?

snacky

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Re: Questrade ?
« Reply #1 on: December 10, 2015, 11:08:10 AM »
I use them, and like them. I researched the online brokerages and this was the top rated. Granted, I haven't tried any others but Questrade has been easy enough to use, once I got the hang of it, and meets my need for a constant stream of data.

the one thing I would say - if you plan to do regular, small contributions it's awkward, as each buy/ sell is subject to a $9 fee. I think some products are exempt, but i'm not choosing what I buy based on a one time fee. but $9 over and over adds up. so if you contribute frequently maybe see what else is out there?

RichMoose

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Re: Questrade ?
« Reply #2 on: December 10, 2015, 11:59:08 AM »
I ask on my Facebook if any of my friends here in Canada invests with Vanguard, and one of them wrote me that she invests on Vanguard via Questrade. Does anyone have experience with this company? What's their reputation?

I've been using Questrade for a couple years now without any real problems. I had some minor issues with a pension transfer to a LIRA, but this could've happening with other brokerages too. Sadly a lot of employees of brokerage firms, whether Questrade, TD Waterhouse, or others are really not that well educated on the ins and outs of different accounts and what is needed where.

I've purchased Vanguard ETFs and BMO ETFs via Questrade. There is no commission on purchasing for all ETF products; however there are commissions (~$9) on selling ETFs. For this reason, Questrade is fantastic for small investors who purchase ETFs frequently in small amounts.

As far as protection goes, it is a member of the Canadian Investor Protection Fund, which is the insurance fund that covers up to $1M in assets per account. Hopefully it never needs to be used, but that's some reassurance anyways. 

okits

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Re: Questrade ?
« Reply #3 on: December 10, 2015, 01:26:01 PM »
Using Questrade for over a year and a half now, like it just fine.  Almost all my purchases are ETFs (no $4.95 commission to buy.)

They are usually running some kind of sign-up bonus, which (depending on your situation) may/may not be better than the bonus you get signing up as someone's referral.  If you need a referral link, I think there are a few posted in people's signatures.

Retire-Canada

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Re: Questrade ?
« Reply #4 on: December 15, 2015, 03:57:40 PM »
I've been using QT for all of 2015. I like it fine. Not amazing. Not bad. I don't spend hours on the site each day. Typically I buy once a month and that's it. I try not to check up on my investments too often.

peterpatch

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Re: Questrade ?
« Reply #5 on: December 17, 2015, 08:04:48 PM »
I use Questrade (TFSA and RRSP) and I have bought Vanguard ETF's , they don't charge a commission to buy ETF's. They seem to be one of the lowest cost brokers in Canada , by my research.

I also do something called Norbert's gambit with them which is a relatively cheap way to convert CAD to USD. Most banks and brokerages charge super high fee's (like 2%) to change your money which is highway robbery IMHO.

nobodyspecial

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Re: Questrade ?
« Reply #6 on: December 17, 2015, 09:45:18 PM »
Using Questrade for over a year and a half now, like it just fine. 
I've only been using them this year - can I ask how good they are at issuing all the end of year tax stuff?
Does it come out in january or do you have to wait , or keep track of all the capital/dividend gains/losses yourself ?

okits

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Re: Questrade ?
« Reply #7 on: December 17, 2015, 10:17:07 PM »
Using Questrade for over a year and a half now, like it just fine. 
I've only been using them this year - can I ask how good they are at issuing all the end of year tax stuff?
Does it come out in january or do you have to wait , or keep track of all the capital/dividend gains/losses yourself ?

I think they might have been a bit slow generating the slips (Feb/Mar?), but I still had them all in time to do my taxes (and before some kind of deadline they seem required to meet.  They just load the files onto your account, access electronically.

I track ACB on my own as brokerages are not required to track phantom ETF distributions (only matters for taxable account.)

chweezzy

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Re: Questrade ?
« Reply #8 on: December 17, 2015, 10:49:25 PM »
I've been looking into questrade.com and seems to me yoy are all diy investing. Has anyone used their managed portfolios?

okits

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Re: Questrade ?
« Reply #9 on: December 17, 2015, 11:42:20 PM »
I've been looking into questrade.com and seems to me yoy are all diy investing. Has anyone used their managed portfolios?

I am DIYing a fairly basic, passive, indexing portfolio.  What do the managed portfolios try to accomplish?

RichMoose

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Re: Questrade ?
« Reply #10 on: December 18, 2015, 11:36:06 AM »
I've been looking into questrade.com and seems to me yoy are all diy investing. Has anyone used their managed portfolios?

No I haven't, and I wouldn't recommend it for anyone but the newest investors who have no desire to learn a few basic investment tips. Their managed portfolios are essentially just an expensive re-balancing service. Save yourself the money and learn how to re-balance yourself - it will only take a couple hours to learn at the most.

http://canadiancouchpotato.com/wp-content/uploads/2015/01/CCP-Model-Portfolios-Vanguard.pdf

Choose your risk level, invest, re-balance once a year, and save yourself $100s of dollars per year in fees.