Quest Trade Review

There is no customer service at the moment. I have investments with several other companies, and they are not having this problem.
In the past few months I have sent them several e-mails looking for information, with no reply other than stock reply that they are having problems with Covid.
I have tried to phone them several times and given up. Today I have again phoned and requested a call-back. Estimated time was 30 minutes, it is now over an hour and no call back. This is for an important account management issue. I looked into on-line chat, but estimated reply time was 2 hours even though I was number 40 in line. This is SCARY!

When you try logging into the website, it just sits there with the wheel just spinning and thinking. This happens 9 out of 10 times. Doesn't matter if you are using Chrome, Firefox or Explorer. The app however works great, but you cannot trade using the site. Probably the worst functioning website I've used in the last 10 years.

avoid them with a 10 foot pole. these guys are thieves

SCAM SCAM SCAM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
There caption says: keep more of your money
It Should Be: Loose more of your money and keep loosing by staying with us.

Worst Trading Platform and customer service.
Please avoid at any cost. There margin call account is a scam.
They give you worst trading strategies and will make you pay more fees and money. Stay away from Questrade

Its an very interesting thing how they can even maintain 2.5 rating.
This will go down to 1.5 in next one year.

They rejected my withdrawal request after I provided an online deposit form. They made Me go to the actual bank location and wait in the line around others and potentially risking the health of myself and my family. Ridiculous. They will find any excuse to withhold your withdrawals. Pay the additional commission fees for more reliable sources of trading that won t cause this hassle.

Also a piece of advice for the hiring team its sad how you guys only hire people who s first language is english. Its discriminating for people who s english is not their first language. They care so much about their reputation or being way too perfect, but they hire people who s customer service skills is really POOR. Let s admit it 90% of people who complained here are either regarding a poor customer service or them literally taking OUR MONEY. I hope your system will change, maybe then you ll get good reviews. Try hiring people who has a lot more experience on customer service and stop hiring people based on their race or if they speak fluent english. Shamed on hiring team and people TAKING OUR MONEY.

Terrible, slow support, slow money transfers, slow everything, after 2 weeks I'm still unable to open my accounts even though I completed all needed tasks. It keeps saying in progress, I've contacted support several times with no help.

***LONG PHONE WAIT TIMES ARE UNACCEPTABLE IN THIS INDUSTRY. I just opened an account and the process is a night mare. Funding it is the worst part and the people that work there are fresh graduates I could sense.I like the IQ edge that is why I am trying them but probably will move to Trade Zero or Interactive Brokers. I wanted something local but will have to see if how much I could put up with these guys.

Thanks to the google users for providing these reviews. I am on hold for last 20 mins to open an account and check on the existing account. But I guess questrade doesn t want my business or care for my existing one.. dropping the call to find someone else who could care for my time and money.

I will get my existing account moved too... glad I read these negative reviews of yours. Noted one more thing, you have read all these posted reviews and have still not taken any action to improve your service.
Not a place to put my hard earned money...

Bye!

They used to be scam and still scam is. Using their employees to post fake good reviews about themselves. Just look up people that put all these 5 star reviews on Google on Facebook...

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.

This is the best self-directed brokerage I've found for Canadian investors. The chat is pretty responsive and I've had my questions answered promptly. I'm also happy with both the desktop and mobile app layouts. I gave a 4 out of 5 rating mainly since there are still fees per trade unfortunately, but other than that I am pretty satisfied with the service and would recommend it to most Canadian investors.

They won t even answer my emails anymore. They ve gone silent @ the support end of things.
Just abysmal service. A gentleman named John Paul was assisting me & now it s just crickets.

I m so upset, but I don t know what to do.

What a nightmare, they are incompetent. I was with them for a few months and had an issue with warrant options I was entitled to which became a debacle because of Quest. During that I made a transfer request to transfer my account to CIBC. Quest ignored the transfer for days and wouldn't take call from CIBC. now my stock were transfer but they didn't transfer my capital which is still in their hands when my full account was to be transferred on March 11 2019. Over the numerous times I called, i was lied to and miss led by their agents, today when I called I was told that they only got the transfer on March 12 2019 but previous quest agents and cibc had told me they had received it days before the 11th of march . On top of that I have to pay $150 plus tax for them to do a horrible job. stay away, they are liars and incompetent. I have more to my story but I am done typing this. AGAIN STAY AWAY

The good part for Questrade is that you can buy ETFs commission-free. You only pay small amount of ECN fees when you buy ETFs.

It is very easy to get the account inactive fee waived.

The part I don't like Questrade is that they charge commissions when you buy Mutual Fund...

Customer service is so so. At least when I call them, the wait time on the phone is not too long before I can speak to someone.

Terrible experience, absolute fraudsters. Took a lot of money and did not respond to any contact. Would not recommend to anyone.

Overall I am pleased with their service and have used them for years.

I just waited 2 hours and 21 minutes to speak to an agent and when the agent became available, I had to join a work call so couldn t speak to them and I was also on chat with 99 people ahead of me and once I got on the chat, the representative told me to upload a document and she would wait for me. When I went back to let her know it is uploaded probably 3-5 min wait time, the chat ended due to a timeout. I would give 0 stars for customer service if possible.

Good service overall, but read the fine print! (they get your there)

Not sure why there are so many negative reviews impatient noobs I suspect. Questrade is Canada's premier online brokerage, and repeatedly declared so by thousands of people and independent reviewers. Customer service is excellent, though a bit overwhelmed during the COVID-19 crash. The web interface is well designed and easy to use, and their desktop IQ Edge platform is excellent for advanced traders. If you are a professional day-trader, Interactive Brokers may be a better option. For the fully integrated big bank experience try TD Direct Investing or Scotia iTRADE full service platforms but expensive.

Been with them for about 2 years now. Low fees, good interface

i changed my review from 1 to 5 stars because of the last agent who assisted me. very professional, polite and efficient. Some great people are working in this company.

Think twice before you transfer your funds to Questrade. Nobody cares or does anything to help you or to do what they suppose to do. I try to fund my account already for FOUR months!! Every time I get same ridiculous answers that they do everything to help, however when I call my previous institutions they said they do not receive any requests from Questrade. Don't do my mistake, keep your money in a safer place.

One of the most positive experiences I have ever had with a Customer Service team. They make Amazon customer service look bad.

Has been a nice experience. Only downside is the time you have to wait for them to receive your phone call or chat with an agent. Hope they can fix it.

The worst customer service ever. It's been a month that Questrade is still holding my fund. Absolutely ridiculous. I have chatted with a few agents, and some of them said it had been processed, and I waited another 2 weeks. Nothing happened.

Wow I was looking into opening an account and so happy I read all the bad reviews. I feel bad for people who are losing money to these manipulators. Thank you everyone for all your reviews. It helps people like me to think twice and not get involved with thieves. Sounds like I'm better off to gamble my money at the casino...Its disgusting how bad the customer service team sounds. They only reply on here and ask to send your concerns via email. WOW so happy I came here to read the reviews first!

I would not recommend questrade at all. Can't complete my profile to open an account, first fail. Waited for a call back to help complete profile which never happened, second fail. Great way to start, not getting my money.

These people are complete fraud keep count of your every penny the steal your money anytime u make a red trade

Absolutely appalling on-boarding experience thus far. Terrible start to a customer relationship!

They claim to have a simple account setup process. I've been trying for nearly two weeks to have them approve 3 simple personal documents to get started. Their chat and phone queues have repeated absurd wait times. Waited 5 hours for their chat and their phone queue has cited more than 2 hour wait times for many attempts in a row.

There is absolutely NO WAY under any circumstances (yes, even COVID-19 level business disruption) that this level of horrible customer support and follow through is acceptable. Get your junk together here!

I will be using another service. It's a shame really. I had heard good things about this company. Buyer beware though - and shame on me for not seeing all these lousy Google reviews before wasting so much of my time.

Zero stars if zero stars was possible. Two thumbs way the hell down.

Update: by far the worst exchange I have ever seen... I'm down 40% even though the stocks I'm holding are only down 15%.... where did the rest of my money go.., Questrade acts like they are cheap and fair but they are the complete opposite. At least I was smart enough to put a k which is the minimum to test the waters, never again will I put a penny into Questrade.

Like others said dont bother with questrade, I put 1k in and my stocks went down 100$ but questrade shows me a loss of -300$... I dont understand why... iv have investorline and when I hold stocks my account balance goes down or up only by the amount shown but questrade is a mystery on why they are taking money from my account... I'm closing my account today. Investorline is a million times better, they wont steal your money when your holding

Wait times to speak with customer service is horrendous. Whether you call in or try chat, today I have been waiting on chat for 1.5hrs and still waiting, so I called and I have been on hold for over 20 mins so far. Terrible service.

I should have checked some reviews beforehand. One star is too many for this horrible company. It just takes forever to make a new account. It's just a nightmare.

horrible experience,do not be fooled by their low trading fees,there are hidden fees involved. plz,Plz avoid questrade at all cost.They are unreliable and they will scam your money. I recommend TD direct investing.Quick transfer to your trading account and quick withdrawal (in just seconds) while questrade will take up to a week. Questrade has a very slow trading platform. i was so devastated ,i was scammed $1200. Td fees may be higher ($9.99) but they are reliable and in real time .They also respect your money.

Open account over few weeks still not done. I give up I will charge other company or banking to doing. Waste my time. I will chat with them to cancel my application.

Horrible customer support experience, nobody really cares about you. I uploaded all my documents and even transferred the fund, now I don't even see my account on questrade. I wouldn't recommend them at all and won't trust them with my money. Their technology platform is disappointing.

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.

Hidden fees on US trades. They mention it on their website but it is very hard to understand.

This company is one of the biggest scams iv ever had to deal with in my life i suggest no one do business with them ever

I have no idea how my experience could be so different from the countless users here. I am very inexperienced therefore have relied heavily on the phone and chat services. I haven't had anything but exceptional service thus far. I have been using for over 1 yr. Granted, I haven't needed to remove funds but i have had agents bend over backwards to help me for extended periods of time. They have looked up codes for me, spent ages navigating me thru the site, sent me links for tech issues i've had while they're trying to help me. There customer service has been amazing. I would give them a 10 if i could.

I honestly hate leaving reviews. As someone who has worked in the service industry I understand how important reviews are, but my goodness, I have never been so disappointed in a firm in my life.

One, the platform is mediocre (not really why I'm here though). Both the mobile, desktop crashed on me during the March crash and I was unable to fully capitalize on the pullbacks let alone sign into my account until 11am after spending since 8:30am trying to log in.

Two (This is the most important part). The customer service and commitment to clients is AWFUL! Not only do they take forever to reply, they are never forth coming with information. It has taken three months to get my DRIP programs sorted out and they still haven't fixed the problem. I am now out over 130USD in Dividend cash (after tax), and out over 200CAD because they keep DRIPing my accounts. Sure when you read that the money may not seem like a lot, but it's the premise and lack of professionalism and inability to care for clients. It's ironic as I have complained, updated my DRIP firms, and have gotten multiple confirmations from their customer service team and "Customer Support Lead" that the securities will not DRIP, but they still do.

If it was not for the fact that a competing brokerage firm was not going to cover the fees to close out my account and move my holdings over, I would have left Questrade the moment they converted my USD transfer to CAD funds, and then made me wait a total of three months to fix the problem that they created from not following instructions.

DO NOT GO WITH QUESTRADE. Do your research on various platforms before you sign up and commit.

Recommendations: Passive Investor = WealthSimple Trade, Active = IB or VB

0 stars.

They held my money that I requested back for over 2 months and gave me the runaround. Will not do business with them ever again.

So I thought about some of the bad reviews here and thought I'd put my 2 cents in. I've used questrade for over 2 months now.
I use them for self directed margin account. Which has been awesome. I'm all new to this. So at first I had many questions and I'd call in. Wait times were only minutes long if that. Getting questions answered was simple. Opening a new account was easy and simple. Fees are absolutely reasonable!
So I'm not sure about others experience but mine has been great so far! Hoping to be here for years to come. I highly recommend their service. Thanks questrade!

I spent 60 days in a practice account, which when I signed up I was told it simulated real market conditions with a one trading day delay. Once I built my confidence I opened a marginal account to short sell securities. Although I could short sell any security I wanted in a practice account, my orders were continually rejected in the real markets. Reason being, they did not have sufficient enough securities to loan out. When asked why it was allowed in a practice account, Nayyer J. informed me the practice account was for Questrade familiarization only, not real market conditions. Questrade should get there information straight. I would not recommend the IQ Edge platform to anyone. I like honesty in a company.

Questrade is one of the best discount brokerages in Canada. Minimal fees and ETFs are free to buy. RRSP, TFSA, USD, etc.

Lots of services for a huge discount.

Their website is much improved and their statements are great. Their chat is fairly responsive and have helped me solve a few issues.

If you are looking to try and make money day trading - you won't - please don't use a discount brokerage and then complain about it on the reviews.

Money is easily moved in and out - most of the time they do it for free. All fees are clearly explained. They are not perfect - no brokerage is - but people leaving reviews here based on reading other people's negative reviews seems like a waste of time to me. I recommend them!

customers service piece very unacceptable with drawl transactions are way too complicated to add funds transaction runs very smoothly though. Called in waited 40 mins for a rep to call back and rep said they were going to escalate and verified my upload document few hours later I got an email stating the document was invalid.

This is not the only trading account I have. The other is acceptable on call responsiveness, but this one is a nightmare: the new client wait time is zero as stated by the employees. An existing customer, has a long waiting period which averages 20-30min on the phone (in my case). Total lack of respect for a client! On the chat app I talked to 3 customer service reps, all of them moved me from one to the other without finalizing my request...Wasted exactly one hour with no resolution...ISN'T THAT GREAT?!

They just screwed over a LOT of people and will cause them to lose a LOT of money! Almost overnight (32h notice) they announced that margin accounts require 50% equity for certain stocks rather than the 30% equity it was. If you don't add money within 1-2 days of being notified that you're below 50%, they will sell off these stocks in your account until they ensure you have 50% equity sitting in your account. For those people who have stocks here when the market crashed recently, they likely have already had to add money to their account to hold onto their stocks since their stocks lost value. With this announcement, they're going to have to pour in extra money, just to hold onto what they bought on margin. I was not overly happy with questrade prior to this, but this is the last straw for me. Will be taking my business elsewhere!