robert westhaver

Review of Quest Trade

Not beginner friendly at all, relies on you to do ...

Not beginner friendly at all, relies on you to do lots of research on their platform before you can use it. For example, to buy a stock in USD they will not autoconvert your current CAD funds for you in a margin account (they do it for you on a tfsa).

Instead they will happily assume you don't want to use your actual funds you had in CAD, and take out a loan in USD so that they can suprise you with a large interest rate later.

If you're a beginner, stick with Wealth Simple

Edit: Fair reply by questrade, I should have done my own research. Bumped up to 4 stars as the overall service since has been good.

A little bit of warning on the mechanics of USD purchasing would go a long way, it is not unreasonable for a beginner coming from a TFSA (where CAD is autoconverted to USD) to be misled into believing the same works for their other accounts.