QTrade- First Impressions of an Online Trading Company

Woodsey14 By Woodsey14, 18th Feb 2011 | Follow this author | RSS Feed | Short URL http://nut.bz/1w2t_9pl/
Posted in Wikinut>Reviews>Web Sites

An editorial on my first impressions of using Qtrade for online stock trading.

My First Impressions of Qtrade

Well, I've finally done it. After months of humming and hawing over whether or not I should leave my money with an investment company or take control of it myself, I finally decided that the time was right to move it. After a lot of asking around and internet research, I decided to settle on Qtrade as my choice of online trading company. Qtrade is a Vancouver, Canada based company that has constently been praised by financial articles for its reasonable prices, it's research tools and it's customer support.

Currently I've only been on Qtrade for the past month, however, here are my first impressions.

1.) Customer Service. I've had questions for the company regarding transfering funds, opening accounts, and setting up a DRIP investment. Shockingly each time I phoned I was able to talk to a polite knowlegable person on the other end of the line with a minimal wait at worst. The customer service has been fantastic.

2.) The research platform. I've found the research platform on the site to be easy to use, informative and best of all (at least in my case) the information is easy to read and understand. I'm impressed.

3.) The price. The price of a trade is initially $20 for accounts under $50 000, and is about $10 for accounts over. It's better than the $30 that my former brokerage was charging, however, I do realize that there are some online sites like questrade that are cheaper for accounts under $50 000 . Overall, I'd say that the pricing is competive


So there you have it, these are my initial impression of the company. I'll be sure to update my thoughts in the future as I continue down this new path for myself.

Also, please feel free to check out my Stock Investing pages, they're just my thoughts on a few companies that I like.

Cheers!

Stocks for investment:
Part 1
Part 2
Part 3
Part 4
Part 5

Tags

Invest, Investing, Investment Decisions, Mutual Funds, Q Trade, Qtrade, Qtrade Investor, Questrade, Stock Market, Stock Market Investment, Stock Market Trading, Stocks

Meet the author

author avatar Woodsey14
Well, there's not much to say except that I'm a father, teacher, soccer player, fly fisherman, gardener, amature cook and coach. I enjoy good food, good drink, exercise, a job well done and of course, being a dad. As far as my writing goes, I'll pr...(more)

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Comments

author avatar Jonathan
10th May 2011 (#)

Thanks for the writeup. I'm currently using Credential Direct and their website is terrible, plus it is awfully difficult to find mutual funds. I plan on switching to QTrade, but it sure would be nice if there was a way to Test-Drive it. I have to give them $1000 minimum to sign up, and if I don't like it and I leave, it will be a $150 fee or so. Makes it tough to choose when you lose either way.

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author avatar Woodsey14
11th May 2011 (#)

For me it's so far.... so good. As far as a test drive goes, you may want to give them a call and simply ask if there is a way to try it out. Their telephone help has been really good.

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author avatar Tony
5th Jan 2012 (#)

Using Q trade for my funds, BMO for spousal. No comparison, you will make money with Qtrade. You will curse BMO. Final over and out

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