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Buying stocks, bonds, mutual funds and ETFs is now easier and cheaper than it has ever been before. Instead of using a stockbroker with whom you open an account and contact by phone when you want to buy or sell securities, I just login to my Questrade account, open up the trading platform, and place my order that is often filled within seconds.
Better yet, I do this all for a couple bucks in trading costs. Back in 1980, placing a trade with a stockbroker started at around $50 and often cost hundreds of dollars per trade for research, recommendations, and large orders—no wonder your grandpa told your dad that dealing in stocks is foolish!
I confidently believe that Questrade is currently the best online brokerage in Canada for regular savers who buy ETFs.
Questrade is a Canadian-owned company that is based in Toronto. It is, by its design, 100% online and has been a clear leader in the online brokerage industry. Since Questrade came on the scene in 1999, the biggest banks in Canada have struggled to simply keep up with Questrade’s innovative business model.
I love companies that are committed to low costs and innovative practices. To show you Questrade’s commitment to leading in low costs, let's review their practices so far.
2006 Questrade was first to offer stock trades as low as $4.95 per trade
2008 Questrade was the first to offer USD/CAD online registered accounts, allowing Canadians to buy on US and Canadian stock exchanges for low fees
2009 Questrade starts to give trailer income on mutual funds back to the investor, saving customer up to 1% in fees
2013 Questrade introduces commission free purchases on all ETFs
2014 Questrade starts to offer 1¢ per share trading commissions
On top of all this track record of low price leadership, Questrade has repeatedly been given awards for their management, entrepreneurship, investor statement quality, and business growth.
Why I Think Questrade Is A Great Choice
- The cheapest broker in Canada for purchasing smaller batches of ETFs
- Have all your accounts with them: TFSA, RRSP, and Cash/Margin
- No account fees when you have invested just $5,000
- Trade in Canadian dollars and US dollars in RRSP and Cash/Margin accounts
- Easy online account set up and fast paperwork approval
- Super-low commissions for purchasing individual stocks when needed
- Easy account funding, just set up bill payment on your online banking
- Easy to use—buy or sell ETFs and stocks in just minutes
Questrade is a registered member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada, the two leading industry groups in Canada committed to investor protection. In short, I believe Questrade is a legitimate, well-run company that is every bit as safe and responsible as the biggest banks in Canada.
Start your investing journey and choose Questrade as your online brokerage like I did! Questrade has some great tutorials at their Youtube channel. They also offer a free practice account if you want to try play around with their platform and programs before using your real money.
*By using QPass: 606614022378192, I will get a small referral bonus from Questrade.
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