Qtrade is a Canadian stock broker founded in 2000. This online broker is part of Aviso Wealth. Aviso is a national financial services company owned by credit union centrals, CUMIS and Desjardins. Indeed, Aviso $90 billion in assets regional offices across Canada.
Qtrade has won many awards over the years:
- Voted Canada’s Best Online Brokerage times over the past years, by authorities such as The Globe and Mail. Additionally, Qtrade is often voted the best broker in Canada by Moneysense Magazine and Surviscor.
Top ETFs with high dividends and low volatility (Covered call ETF)
What are you looking for in an online broker?
Commission fees : Choose a broker who charges as little as possible in commission and fees.
Platform : You need to ensure that the platform is easy to use with very few breakdowns. Also, features should be easy to understand.
Features : You need to see if the features meet your investment needs, whether you are a beginner or an advanced investor.
Customer Service : Try to gauge the level of support you want to receive (Online Live Chat and/or Phone Agents).
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What can you trade with Qtrade?
Qtrade offers a solid selection of products and investment accounts for self-directed investors.
Stocks: You have access to stocks traded on Canadian and US stock exchanges. In addition, you can trade rights and warrants over-the-counter.
Exchange Traded Funds (ETFs) : You can trade
Mutual Funds : Thousands of available mutual funds are available on the platform.
Bonds : This includes government and corporate bonds. In addition, you can trade commercial paper, strip coupons and treasury bills.
Guaranteed Investment Certificates (GICs) : Easily invest in term deposits and GICs with varying maturities and rates.
Options : Experienced investors can place various option trades.
New Issues : Initial Public Offerings (IPOs) and Secondary Offerings are offered through Qtrade.
Qtrade Review: Types of Accounts Available
Non-Registered Investment Accounts:
You can buy and sell stocks, bonds, mutual funds and other investments.
TFSAs are a valuable type of account for Canadian investors. You can invest in stocks, bonds, ETFs and mutual funds. The TFSA protects your investment income from tax. Also, your withdrawals will be tax-sheltered.
Using the Qtrade RRSP account, you can invest in stocks, bonds, ETFs and mutual funds. Tax will be deferred until you make a withdrawal, ideally when you retire. RRSP accounts are available for individuals, as a spousal plan. RRIFs (the natural conclusion of RRSPs) are also available. There are also Canadian dollar and US dollar account options.
Margin : Margin accounts allow you to borrow money against your securities to trade at competitive rates. Keep in mind that this is the only type of account on which you will have to pay interest.
One of the advantages of this platform is that you can trade in Canadian or US dollars and avoid having to pay exchange fees.
Qtrade Review: Fees
Ordinary investors (those who do not meet the thresholds of 150+ trades per quarter or $500,000+ in assets) are charged $8.75 per trade. These Investor Plus will see a lower rate of $6.95 per stock trade. Options are $6.95 + $1.25 per contract.
Additionally, stock traders between the ages of 18 and 30 can also take advantage of a reduced commission rate of $7.75 with no minimum balance or quarterly fees, provided they set up a recurring deposit of $50 and more each month.
To transfer your account, the fee is $150.
There is a quarterly fee of $25.
Qtrade clients pay no commission on the collection of 100 ETFs with no
Qtrade ‘s free ETFs include popular funds from the following issuers:
Desjardins Wealth Management.
The Investor Plus program: reduced fees
Qtrade has an elite level program called the Investor Plus program. This program has a few advantages (including lower trading fees).
To be eligible for the Investor Plus program, you must have:
A minimum of $500,000 in assets across all accounts and under the same client ID
A minimum of 150 commission-generating online stock or option trades in the previous calendar quarter.
Benefits include reduced trading commission fees. Also, you benefit from a dedicated phone number to ensure faster service and no fees for
Qtrade vs Questrade Review
Qtrade is the best Canadian broker for those whose portfolio and trades consist primarily of Canadian ETFs. Questrade is the cheapest broker for all others.
Qtrade vs Wealthsimple Review
Wealthsimple Trade is more suitable for beginners due to its commission-free offering and super easy-to-use mobile trading app. If you want a clean interface that lets you place trades with just a few clicks, Wealthsimple Trade works well.
Qtrade is designed for investors. It offers a lot more options in terms of products and accounts. You also have access to trading tools. Although trading fees on Qtrade are not cheap, they are competitive with big bank brokers like TD Direct Investing and RBC Direct Investing.
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Qtrade Review: Conclusion
Qtrade is a great all-round option for Canadian investors, whether beginners or experts. With an easy to use interface and advanced search features, it has something for everyone. The web and mobile versions of Qtrade are both easy to use and navigate, allowing you to trade easily from anywhere. And, thanks to Qtrade’s low fees, it’s easy to get started even if you don’t have a huge amount of money to invest.