My wife and I both have our online RRSP accounts with Questrade Canada.
Our requirements were:
- Low trading fees
- No annual fee for having a self directed RRSP
- Good customer service
- Easy to setup DRIP
I have been with the following brokerages in the past: CIBC, Qtrade, and RBC Investing.
A major reason why we decided to move our accounts to them were:
1. They met the low trading fees requirement. They have a $4.95 for 495 shares commission structure and the maximum per trade is $9.95.
2. No Annual Fees. Make sure when you register with them that you make sure all your confirmations are sent electronically and no mailings of stock purchases (they charge extra for that).
3. They offer online chat and have long customer services hours (helps for us in BC!).
4. Great service for DRIPs. My wife and I buy a lot of dividend paying stocks so this needed to work easily. The forms are easy to use from their website.
Some things that could be improved are the trading platform (takes a while to figure out). We found the interfaces and tools that the other brokerages offer were superior. However, we typically only make about 15-20 trades per year.
Here is what they offer:
Questrade is one of Canada’s first and fastest growing direct access discount brokers.
Trading commissions are among the lowest in Canada starting from $4.95 a trade.
Trading Platforms & Products
Questrade offers a wide range of trading products including stocks, options, foreign currency, and gold bullion, which for the first time in Canada and only available at Questrade, can be held inside registered plans.
$50 in Free Trades for New Sign ups:
The current promotion being offered by Questrade is up to $50 in free trades for everyone who opens a new account with us. Simply follow this link to opt into this exciting offer. Make sure to enter e913c401 in the affiliate ID section of your application.
If you are considering opening a Questrade account and would like the $50 in free trades, sign up through the link below. The link will bring you to a Questrade URL that will automatically recognize you as a referred client. If you decide to sign up later or if you’ve already started an application, in the form field “Affiliate ID” or “Promotional Code” use e913c401 to get your $50 in free trades.
Sign up and get $50 in free trades with Questrade!
If you have any questions regarding the $50 trading credit or want to confirm your $50 referral after signing up, you can contact us.
For Website owners:
If you are a webmaster and would like to take advantage of the new affiliate system that they have, you can join their new questrade affiliate system here. Make sure to use e913c401 as your parent affiliate ID.