Question 1

Is Questrade beginner-friendly?

FXScope Intelligence Lab · Accepted Answer

Based on customer feedback, Questrade appears to have mixed beginner-friendliness. Some users report positive experiences, particularly noting helpful customer service staff who are 'patient, attentive, and knowledgeable' for beginner self-investors. One customer specifically mentioned Questrade as 'a great option' for beginner self-investors, highlighting that staff assist with trading fees and explain withdrawal rules for registered accounts. However, other reviews indicate challenges, particularly with customer service accessibility and technical issues that may overwhelm new users. The platform offers educational support through patient staff guidance, though wait times for customer service have been reported as lengthy by some users.

Question 2

What is Questrade's customer service quality?

FXScope Intelligence Lab · Accepted Answer

Questrade's customer service quality appears inconsistent based on available reviews. While some customers praise the helpfulness and knowledge of individual staff members, particularly for beginners, there are significant concerns about accessibility. Multiple reviews mention extremely long wait times, with one user reporting waits of 45 minutes to 2 hours, despite using the callback feature. The company has reportedly laid off over 100 employees, which customers believe has impacted service quality. Some positive feedback highlights patient and knowledgeable staff who provide thorough assistance with account questions and trading guidance.

Question 3

How reliable is Questrade's trading platform?

FXScope Intelligence Lab · Accepted Answer

Questrade's platform reliability shows mixed reviews from users. Some customers appreciate the Questrade Edge interface, while others report significant technical issues including connectivity problems, orders not executing properly despite being accepted, and difficulty logging back in during technical difficulties. Users report issues with stop-loss orders not being respected and bracket orders getting stuck in pending status with no way to cancel positions. Additionally, some customers experienced problems with data feeds and order execution timing, particularly during fast-moving market conditions. The platform has integrated TradingView, though one user described this feature as problematic due to order management limitations.

Question 4

What are Questrade's fees and pricing concerns?

FXScope Intelligence Lab · Accepted Answer

Several customers have raised concerns about Questrade's fee structure and billing practices. One user reported being billed over $4,000 for data fees they didn't want, stating the company categorized them incorrectly and claimed it was the customer's responsibility to monitor monthly fees. The company reportedly doesn't disclose certain fees upfront during the ordering process. Additionally, customers report that options trading costs 400% more than competitors, even after paying monthly fees. These billing and fee disclosure issues have been a source of significant customer dissatisfaction, with some users recommending others check their fees monthly to avoid unexpected charges.

Question 5

What is Questrade's regulatory status and BBB rating?

FXScope Intelligence Lab · Accepted Answer

According to Better Business Bureau (BBB) records, Questrade Inc has an 'F' rating, which is the lowest possible rating. This poor rating is specifically due to the company's 'Failure to respond to 13 complaint(s) filed against business.' The company is described as an Investment Security and Stock Exchange business entity, incorporated as a Corporation since 2001, with 24 years in business. The BBB notes that Questrade Inc is NOT a BBB Accredited Business, meaning they have not agreed to BBB Standards for Trust or passed the BBB's vetting process required for accreditation.

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