Aaron Mogenson

Review of Quest Trade

I've been using Questrade for several years and it...

I've been using Questrade for several years and it has worked out well for me. I'm honestly surprised to see such low ratings here. Sure, wait times can be a bit long for online chat but I eventually get my questions resolved no problem. Service has been quite good overall and I get the impression that this company cares about it's customers satisfaction. I've transferred money in and out of my account many times with no problems. I like the trading interface a lot (the browser one, but not the IQ desktop thing). It's very clear and simple to use. Has worked well for me in both long term investing and more fast paced trading. Recently subscribed to a data package and got Active Trader pricing and I love it! Saving a lot on commission now. Margin Power, the thing that lets you leverage TFSA investments towards margin account is excellent too! Really helps me make bigger trades. However, the one thing I really don't like is how high the margin interest rates are. Right now it's around 6-8% depending on currency and amount. Way too expensive and really kills some strategies. Also the commission for options trades seems high, even with active trader pricing. I'd give 5 stars if interest rates came down a few percent and options trading was cheaper.