Maia Krulevich

Review of Quest Trade

I attempted to open an account with Questrade befo...

I attempted to open an account with Questrade before the pandemic started and to transfer an account from another broker in order to fund the Questrade account. I sent an email after a week to see the progress as no update had been made on the website. All I received was an automated email. I NEVER got a response from them. After about a month, I called in, and after waiting on the phone for about 2 hours, I finally reached an operator who wasn't very useful and told me that the process is underway, just taking some time now because of the pandemic (which by this point, had started). Another month went by and I tried calling again, after another 2 hours of waiting the operator told me that I was attempting to transfer the funds to the incorrect type of account and that the transfer could not be made... Why did it take them so long to tell me this?! It should not have taken them over 2 months to get this information to me. Very unsatisfied with the customer service.

So, I cancelled the transfer and set up another one to the proper type of account. Again, a month goes by with no update and this time I decided to contact customer service through their online chat system. I was 90-something in queue, waited a few hours and when a representative responded he was able to tell me that the process is going, its just taking time. Another month as gone by and I contacted them again yesterday, to be told that its going... this is far too long and in hindsight I should have really gone with a different company. I am INCREDIBLY unhappy with the quality of service, lack of transparency about wait times, and overall lack of customer appreciation at Questrade.

I do not recommend using them - go with another company, save yourself the headache.