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Review of Quest Trade

I have been with Questrade since 2015 and had an o...

I have been with Questrade since 2015 and had an overall pleasant experience with opening accounts to answering general questions. They won't give you much advice & can't answer much specific questions like tax related questions, investments etc..so you need to do your own research on your own online or talk to an expert outside of Questrade. They are mostly good for basic service and good for self served/manage type of investors so if you are not that investment savvy, better you go to a bank and have an Advisor. I like Questrade because of low fees and free to buy ETFs. I mostly have ETFs and blue chip stocks with them so my trading & investment is more passive & simple. If you like fancy sophisticated investment & trading platform, better go with a big banks & pay higher fees like TD Waterhouse, Scotia ITrade etc..

I am currently trying their QuestWealth where it is robo-advising where they invest in ETFs for you & charge 0.25% fee on top of whatever the MER of the ETF charges you. They basically construct a portfolio based on what you answer in their questionnaires. The agents on the phone just have basic knowledge, won't give you much advice or feedback about the investments that QuestWealth chooses and even gave me wrong information about RESP. So I don't trust fully whatever they tell me, better to do your own research & double check whatever they tell you. Better you do your own homework or hire a very good Financial Advisor (CFP) outside especially if you have advanced/sophisticated questions.