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Qtrade 2022 Review • Pros, Cons & More • Benzinga


Why Qtrade rather than the others?

Qtrade offers a few unique advantages over competing investment brokers, including:

  • Simple registrations and a user-friendly platform for novices: Qtrade’s platform does not include overwhelming charting software or analysis tools; instead, it sticks to the basics and promotes a cleaner layout. While it might not be the best choice for professional or institutional investors, new traders might appreciate the inviting platform.
  • Access to US equity markets: In addition to Canadian domestic markets (such as the Toronto Stock Exchange, TSX Venture Exchange, and Canadian Securities Exchange), you can also access the New York Stock Exchange and NASDAQ. This can be a major advantage for Canadian investors looking to expand their portfolio to include foreign companies.
  • Options Trading Availability: In addition to stocks, ETFs, and mutual funds, Qtrade also offers easy options trading. Want to know more about the options before you start? Qtrade’s education section is also beginner-friendly and a great place to start learning.

Brokerage Quick Summary

Marketable assets Stocks, Options, ETFs, Mutual Funds, Bonds, New Issues, Guaranteed Investment Certificates (GICs)
Platform Oriented towards beginners; simple and straightforward, can be ideal for beginners looking for a simple solution to start trading
Mobile app Fully operational; desktop online trading platform mirrors
Minimum account $0
Base currencies available USD, CAD

Qtrade is an equity and options investment firm that provides Canadian investors with easy access to Canadian and US markets. Like many brokers, Qtrade charges a commission per trade each time you buy or sell a security. This commission may vary depending on the size of your transaction and the type of security you are buying or selling. Below you can see a summary of what you could expect to pay in commissions. All prices are quoted in CAD.

Shares $6.95 to $8.75 depending on trading volume
AND F 100 commission-free ETFs available; $6.95 to $8.75 depending on trading volume
Mutual fund $0 commission
Obligations $1 per $1,000 of face value, with a minimum fee of $24.99 and a maximum fee of $250 per transaction
Choice $6.95 to $8.75 depending on trading volume plus $1.25 per contract

Qtrade also offers margin trading. The rate you will pay will vary between 2.45% and 3.45%, plus additional fees based on the amount of margin you use. The best rates are available to merchants who borrow more than CA$100,000 in margin, and margin rates can change throughout the year based on current market rates.

Qtrade is aimed at novice traders and investors who are preparing to make their first purchase or begin their journey towards investing retirement. Although Qtrade does not offer comprehensive charting and the same type of analytical tools as brokers for professional and institutional investors (like TD Ameritrade or Lightspeed), it offers a simple and intuitive set of tools that even the newer investor can quickly master. Some features you will find on the Qtrade platform include:

  • Planning tools and calculators: Many novice traders start investing with a specific financial goal in mind. For example, you might want to invest to retire early, buy a house, or send a child to college. Qtrade’s investing platform offers a range of free financial planning tools and calculators to track your net worth, estimate when you can reach a specific financial goal, and track how much you’ll need to invest over time to meet your needs. for retirement or education.
  • Easy and simple registrations: Getting started with Qtrade is exceptionally easy — most new investors will be able to open their account in as little as a few minutes. All you need to get started is your social insurance number, government ID, and some information about your current net worth, assets, and income. Open your account, link your bank account and start investing for the future.
  • Screening tools: A stock screener is a tool that makes it easy to find investments that match the unique criteria you are looking for. Qtrade’s platform includes a comprehensive stock and ETF screener that lets you sort through thousands of stocks to find the ones that best suit your goals. Sort stocks and funds by price, dividend yield, expert valuation, or your own set of predefined criteria.

If you are a new investor, you may want to learn more about the stock and bond markets before placing your first buy or sell order. Qtrade offers a range of educational tools that you can use to both master the Qtrade platform and learn more about trading strategies and how to use them. Here are some examples of educational tools you will have access to through Qtrade:

  • Quality Investing Information Articles: Like its platform, Qtrade’s education section is largely aimed at newbie traders who are still learning common trading terms and may not yet know where to invest their money. You can access a full library of beginner-friendly articles for free on the Qtrade website, even if you haven’t opened an account yet. Education articles are engaging and easy, even for complete novices. Previous topics include “How to Sell Stocks Online” as well as general introductions to market volatility and its causes.
  • Analyst Recommendations: Qtrade’s platform includes an exclusive newsfeed with expert recommendations for US and Canadian stocks. In addition to recommendations, fundamental market data and daily morning information calls are offered each day before markets open to help you prepare for the day ahead.
  • Downloadable Business Guides: Prefer to learn on the go? Qtrade also offers a series of downloadable trading guides that you can transfer to your tablet or mobile device to learn on your journey. Previous instruction guides include Qtrade’s ‘Guide to Margin Trading’, ‘Guide to Stock Trading’ and ‘Guide to TFSA Trading’. Like all other educational offerings, the trading guides were written with beginners in mind.

Although Qtrade’s physical locations are currently closed, the broker offers several ways to contact customer support.

  • By email: To get in touch with the Qtrade Customer Support Team via email, send a message to info@Qtrade.ca. Be sure to include your name and phone number for the fastest response possible.
  • By telephone: To contact Qtrade by phone, dial 877-787-2330. Customer service is available by phone Monday through Friday from 2:30 a.m. to 2:00 p.m. EST.

Currently, no specific phone line exists for investors living with hearing limitations.

Qtrade offers investors access to a wide range of stocks and markets, including stocks, ETFs, mutual funds and more. Let’s take a closer look at the main asset class opportunities that investors can access through Qtrade.

Qtrade Stocks, ETFs and Mutual Funds

Qtrade allows users to buy and sell all stocks listed on major Canadian stock exchanges, including Toronto Stock Exchange (TSX), TSX Venture Exchange (TSXV), Canadian Securities Exchange (CSE) and NEO Aequitas Scholarship. You can also buy and sell any asset listed on the NYSE or NASDAQ. Most investors will pay between CA$6.95 and CA$8.75 in commissions per trade. You can also access certain stocks on the over-the-counter (OTC) markets.

Qtrade also offers access to ETFs and a wide selection of mutual funds. Currently, the broker offers 100 commission-free ETFs – additional ETFs are available but have commission rates similar to buying and selling stocks. Qtrade also offers access to thousands of commission-free mutual funds from top investment firms like Vanguard.

Qtrade options

Qtrade also offers full access to the US and Canadian options markets. Qtrade’s platform allows you to place several types of call and sell orders, including spreads, covered and uncovered orders. Qtrade’s Stock Screener (included with its proprietary trading platform) is also effective at screening options through a set of predefined criteria.

As with stock and ETF trading, Qtrade users pay between CA$6.95 and CA$8.75 per option purchase or sale, plus $1.25 per contract. Lower rates are reserved for high-volume merchants.

Qtrade’s mobile app offers full market functionality, allowing you to buy and sell stocks, ETFs, mutual funds and more directly from your phone. Some unique features we love include:

  • Simplified portfolio tracking and monitoring: Qtrade’s app makes it easy to track the value of your portfolio and how it has changed over time using dollar amounts and charts. It can help you make sure you’re on track to reach your financial goals through visualization.
  • Apple Watch compatibility: Love your Apple Watch? Qtrade’s mobile app offers a streamlined app for the Apple Watch that allows you to monitor your investments from anywhere.
  • Easy watchlist creation: Qtrade’s app lets you quickly organize the stocks and ETFs that interest you most into convenient watchlists. This feature can be especially useful for day traders and scalers who need quick access to their most frequently traded assets.

The Qtrade app is available as a free download for iPhone, Android and Apple Watch platforms. For Windows phone users, a full mobile web platform is also available.

At its core, Qtrade values ​​simplicity and usability on its platforms. You won’t find complicated charting options or analytical tools on any of Qtrade’s platform offerings. You will, however, find a simple and easy-to-use control system that anyone can master. You can even practice using the Qtrade platform with a free demo account before risking your own money.

The education section of Qtrade also caters to beginners, with only very basic lessons available. While this might be a welcome sight for new investors, more experienced traders are unlikely to learn much from its offerings.


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