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Few months back, I moved our investment accounts to Questradeattracted primarily by their ultra-low commissions and good word-of-mouth recommendations. Everything went smoothly for a while — my account was transferred out without a hitch and trades were executed perfectly — until last week. I logged in to my account and discovered that an interest charge was deducted on our USD account.

The interest charge was puzzling because I never trade on margin or short stocks. I thought it was no big deal; mistakes happen and it has happened once before at my previous big bank broker and it took a mere phone call to have the charge reversed. It turned out that at Questrade it is a big deal. The first day the agent said it is taking time to check my account and he would resolve the matter by the end of the day.

On the third day, I got the same agent again claiming they were still working on resolving the matter. Today, another agent claimed that someone would have to review my records for each trading day to verify my claim that there was no margin balance though it took me a four minutes to check; not four days.

And on and on it went …. Finally, I had to send an e-mail to Emil Vojkollari, Client Acquisitions Supervisor at Questrade requesting his intervention in this simple matter. Sure enough, within a very short time, a Questrade agent finally contacts me with the information that the interest charge was an error and would be taken care of shortly. Well, why did it take so long? As a client, my bottom line is very simple: I moved my account to interactive brokers.

I put a bracket trade on qtrade but it never trigger on time. Interesting situation — I suspect that errors and issues that come up with Questrade have more to do with the fact that they seem to be a fairly new company rather than the cheap trades.

Questrade has been around since Plenty of time to learn how to support customers for small problems. I really just want to set up a sleepy portfolio with some funds, but brokers like eTrade or TDW just charge too much.

That was part of my reluctance to jump over to some of the new kids on the block. Check out disnat which is the online brokerage of Desjardins. They waive all fees on TFSA or RRSP if you have min. I have no problem when they can resolve simple problem. I actually like that. I opened up a Questrade account about two months ago but have yet to execute a trade there. Shortly after I opened my account, both the broader market as well as my own opinion on the market turned bearish.

Faisal — if you look hard enough you will find both positive and negative comments on every broker. As of today, the charges are still not reversed! I called them a second time and the CSR offered to fix the problem and call me when it was taken care of. Now TDW made a mistake too but it still impressed me that they took care of the problem so well. What are the implications of moving your broker?

And a bit of time for the change to take effect. Moving to a different broker is very easy. Brokers often offer to refund the transfer fee. It happened to me once at RBC Direct Investing. They reversed the charge immediately. Ugh…I just opened my Questrade account. CC, have you actually got the US cheque transfer with fax to work yet?

How quickly is a USD deposit at TDW completed? I would not recommend Interactive Brokers. I cannot even begin to explain all of the horrendous problems I had with them — very unethical company and they never correct their errors, which of course, are always in their favour.

Their system always crashes and you can never get through to their call centre, especially when their system has problems. If you do reach someone, they are so junior and untrained that you will spend all of your time explaining to them how their system works and how to do their job. I got the US cheque transfer working with Questrade. With TDW, if you deposit the cheque at a local branch, your account would be funded within a few days.

I mailed a cheque to the local TDW office and they had to go to a branch to deposit and even then it only took 4 business days. If I do move my account again, I will go to TDW. There are benefits to consolidating all accounts in one place. We are investigating the precise details of what happened, which we do any time there is an issue. My invitation to contact me directly is for everyone. It is not a hassle at all. My role is to be the back-up — make sure nothing and no one is overlooked.

Questrade is now in its 8th year of operation and we have about 70 employees at our office. We were the first direct access broker to become a member of the IDA in Canada, and we are members of the Canadian Investor Protection Fund, and a participating organization of the Toronto Stock Exchange, TSX Venture Exchange, and the Montreal Exchange.

In other words, Questrade is a solid, dependable brokerage. And we do listen. Emil Vojkollari Client Acquisitions Supervisor Web: Thanks for your comments. I do know that Questrade listens to clients and you thought out of the box to fix the delays with depositing USD cheques.

Yes, mistakes do happen. Hi CC, Is saw your post about the 9. Do you have a link for that info from there site? You have to call in to notify TDW about the accounts to take advantage of the lower commissions.

This is very new and is only effective as of Sept. Actions speak louder than words. The charges are still not reversed ONE WEEK after I contacted Questrade.

Finally, the interest charges were reversed and my account credited as of this morning. Thanks to Emil for his efforts in sorting out this problem. Thanks all for the responses! CC, good to hear that your charges have been reversed. I had an account with them and except for the added urge to become a trader, I really enjoyed being with them.

If only they did RSPs, though. I just deposited a USD cheque into my TDW account on a Sat. The deposit showed up on the cash balance on Tues, the same day it was cleared from my checking account. Thanks for having your web site and teaching the web community. I have also found that Questrade is not all that they are cut out to be.

I have put a small post on my blog, and put a series of posts on redflagdeals. I am still with questrade today, and I have pretty much put all my transactions and investing on hold except for a few small investments. Clearly, there is a lot more I need to get educated on before I jump in further with a larger investment. I mailed a us draft to questrade 1 week ago, 2 days later, I was able to trade those founds. I Talked to my bank and they said the draft has already been cashed. You should contact Emil with your problem.

I hope your problem gets resolved and please do let us know how it turned out. Yes I will let you know. On Dec 14 I initiated an Internet transfer to open an RESP account at Questrade. As of Dec 27th the money has yet to appear in my account. Most concerning is the lack of interest by the phone representatives at Questrade. Initially I sent an email and received only an automated response. After several phone calls each with empty promises to follow up I spoke with a phone rep who admitted that there was a computer glitch on their side and that I should feel confident about making a larger transfer to accommodate an end of year tax deadline.

When asked when I could expect to see the issue resolved they could provide no timeline. Monies deposited would not be accessible until the issue was resolved. After escalating the issue Questrade indicated that they would send me an email confirming the situation. Two days later I am still waiting for the email to be sent. And yes, when I had issues around how they arrived at some of the values it took 3 calls to separate people and two weeks to get an answer and correction. Personally, I like any company like Questrade that endeavours to keep Canada in the 21st Century by at least making attempts to bring technology to us.

I was in a similar situation like you. My suggestion to you is to contact wherever you are transferring your money from e. Each time you call them, they all act retarded, with a memory span of a goldfish.

As for those considering Questrade, ENTER AT YOUR OWN RISK!!!! The fees are enticing, but CAVEAT EMPTOR let the buyer beware. If you consider them, DO NOT WIRE THE MONEY VIA INTERNET!!!!! As for anyone else reading these blog, please disregard the above comments from Paul and Fox until I verify their validity. I am mostly looking to trade within the nasdaq or nyse but i live in canada. Are there any fees between the currency conversion when i buy US stock? If there is can i aviod paying this fee by setting up an account which only hold US dollars?

Are there any discount brokerages in canada where i am able to do trade between canadian exchanges and US exchanges without a fee? When you open a taxable account with any discount broker, two accounts are opened for you: All transactions in the USD account are in US dollars. I am surfing here webpage because I want to move all my holdings OUT of CIBC, which incidentally indulge in nickel and diming their investors to death, on top of major screw ups of their own!

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You would think that heads would roll over there but nothing happened; business as usual! Where do you think they will plunge their greedy hands in order to make up for their short sighted stupidity? So, my dillemma seems to be: I have been using Questrade for many months.

I am overall happy with it, made about orders alltogether. I think I would recommand Questrade. Those of you who sometimes make quick actions, like selling one share to buy another one instantly… watch out! I have been a longtime eTrade customer. The only problem I have had with them is the trading Limit Orders odd lots. I did switch sometime ago to Questrade but at the time they offered 2 different system of fees: Plus the fact that I was never really comfortable with their trading platform.

But now I am puzzled. I saw some mention of Interactive Brokers: I have had a futures account with them and know a number of other traders connected to them.

The consensus was that they had great commission rates but literally ZERO customer service. Any suggestions has to how one might get around the odd lot business with eTrade which they tell me only applies to the Canadian exchanges? I must confess that this is the first I am hearing about it.

I just went to my eTrade acct and attempted to place a Spot on shares of QUA that I hold and received the following error message:. To the best of my knowledge, I did not have this problem with Questrade. I am not familar with other brokers. It is a Mixed Lot order. Well Watcher may well be correct. I never proclaimed to be an expert but I do know that I can buy shares of XYZ but when it comes to placing Limit orders a Stop or a Sell for those same shares I get the error message above: Starting to trade on July 1.

In absence of a comprehensive Questrade manual showing rules and regulations pertaining to its policies and trading platform, calls to customer service were needed to clarify discrepancies inherent in the life versus the demo platform. Unfortunately, I received as many contradicting information as there were agents I spoke with; requiring additional calls asking for verification from a supervisor.

Andrew has to be mentioned as most professional, helpful, willing, competent and customer service oriented. Some of the issues are the number of decimals allowed to enter, excessively long time lapses to fill market orders despite direct access, limit orders do rarely appear on level 2 queue view, commission amounts charged are shown at 2x the amount incurred, etc.

The trading platform however, closed a position other than the one selected by me which had shown a gain when closed out at that time. Instead a significant loss occurred when the system chose a different position of the same symbol acquired at a different price than the one I had selected.

I called Questrade immediately following the incident. After 15 minutes on hold, I was informed by Ilia? With this information in mind, on July 29, at Consequently, my gain for the day to In addition, my unsuccessful attempts to resolve the issue in several phone calls to customer service resulted in repeated disconnections, more than 13 minutes waiting periods on hold and refusal by agent Ilia to connect me to a supervisor.

Instead, rude, rushed and unfriendly, he tried to convince me that only a paper, but no real loss had occurred. He assured me he had now adjusted the account to eliminate the loss occurred. When I asked him how the result is shown so that I can see it in my trading account, he answered that he is not an IT programmer and thus, does not know how the computer did it.

Brad, agent at the trade desk, and later agent Karan, assured me the account would be adjusted at end of the trading day because current attempts made by them failed for technical reasons unbeknownst to them.

I requested several times to be connected to a manager or supervisor and asked for a call back, I AM STILL WAITING TO BE CONTACTED. Last Thursday I was successfully approved for an account at Questrade after about 40 minuets of online interrogation which was easy enough. I contacted Emil to further speed up the process and he told me he was doing all he could to speed up my account setup and that it would take business days; so Wednesday at the very latest.

I sent Emil an email on Monday which he hastily responded to kindly telling me that he was doing his best, and that the funds should be in in the next 2 days. Customer Service is horrible!! They even tried to tell me my account was activated after the deadline which really outraged me.

The email they sent thanking me for opening an account with them was dated in July. And if they say they will call you back be sure not to hold your breath because you will definitely not hear from them. Well Kevin, I just open an account with them AND it does takes approx 10 business day to do it, just like any other broker. I love newbies mentality…. Of course, it took you 2 weeks. I just opened an account with RBC and it took me one week.

I expect and plan to have no trades for a week or two when an account is opened and transferred. Please note that recently my Questrade trading account was compromised so were a few other accounts of other inverstos -as per the information by the Questrade agent.

Everything was going well untill this Thanksgiving day when someone hacked into my account and sold some of my divedend paying stocks that I owned and purchased shares of another stock on my account without any authorization. Questrade states that I am supposed to cover the trades? If a credit card is stolen similar to stealing my Questrade pasword the bank covers the loss.

TD waterhouse has a system by which even if you log into your trading accountyou need to enter an additional four digit trading password like a pin number to confirm a trade whether it is a buy or a sell. E-trade has a similar system, when a person can log into their trading account but cannot buy or sell unless an unlill a four digit pin is used.

Something to ponder is that why is it that Questrade do not have ample security or layers of security measures to prevent illegal trades from happening from individual accounts. Please remember that this is a public forum in which we welcome all viewpoints stated in a polite manner.

We cannot accept innuendos, profanity, vulgar comments or wild allegations. You are welcome to submit comments that conforms to these rules. I these idiots, are the worse in the industry. You are welcome to share your experience and frustration without resorting to obscenities.

As much as market volatility can be an opportunity, it can also be a challenge. If you are trading on margin in current market conditions and your account enters a margin call, we are bound by industry regulations to take action — which may include liquidating a position. For more information about our margin policy, visit our margin centre located here: There are links to our stocks, options, and forex margin requirements as well as a link to IIROC the Investment Industry Regulatory Organization of Canada.

This is clearly noted several places on our website. The practice protects individual clients and Questrade. If you have issues with any of our policies or processes — be it a margin call, commissions, a rebate or offer — then please let us know directly. Writing about it here in this forum may help inform other clients, but without formal requests through our client services department, we are unable to act. I can sense your frustration. Please contact client services and request escalation to a supervisor.

In the case of margin calls, we may not be able to make any changes for reasons indicated above. However, if there are errors in your account, we will be able to initiate an investigation.

If, as you noted, you would like to transfer out of Questrade, we will be able to expedite the request. I just opened up an account and it took 6 business days equating to 8 in total. I must be lucky eh? It would also seem to me that most of the negative sentiment is driven by people with poor grammatical skills.

Not all mind you. Perhaps it is really difficult for the Questrade staff to deal with some of these complaints due to the fashion in which they are approached. As for opening my account; I had no issues and realized from the get go that it could take a few days. My internet bank transfer had taken effect the day after I received the new account welcome email. I am a novice at this and therefor the only piece of advice I can give to prospective account openers is this: People think that they can pop in and open an account and make a quick buck on a tip they heard somewhere.

I have realized that it is a way of life. I totally agree with you. Questrade customer service sucks big time. Empty promises all the time. I f you open an account in Questrade. After thatyou have to make calls to beg them to change it, then they will delay to tell you the reason or just forget this. Even their commission is cheap, throw it away. You save commission here, but you will lost more in Questradetrust me. It is a Garbage Questrade!!!! Wow — I wish I would have seen this site before I made the mistake of opening an account.

The actual opening process was quite nice. Electronics signatures, electronic transfers… unfortunately almost 2 weeks after it was approved and still no trading account to use. Ok I said — what does it mean when you say you should be up and trading in 1 business day?

I asked for them to close out the account and return my money. Now more then a week later I am still waiting for my money. A different excuse every time I call the customer service line. I also wish I had seen all these comments before joining questrade, I am an amateur to trading but there are certain things common logic can judge. I have contacted questrader about the problem I have, all I was looking for is an explanation but it seems when I brought up the info they chose to ignore me so I am going to post on every website to search for the answer.

I contacted them concerning a change of name from PNHL holdings to GTLA. After they gave me GTLA shares at an average of 0. This is the exact email and reply sent. As per our conversation, your account has been reviewed and we can confirm that your account has been properly updated.

The terms of the corporate action that saw PNHL simply change symbols and name to GTLA GT Legend Automotivewas that each share of PNHL was exchanged for 0. At the time your account was holding 4, shares of PNHL which were converted to shares of GTLA. The prices are not official and are for display. It is your responsibility to know what price you have paid for your PNHL shares and what price your GTLA shares should be valued at. Please contact us if you have any further inquiries.

Nicholas Roussos Client Services Specialist Web: If I am to calculate from the 0. I will really appreciate it, if the experienced traders will let me know where I stand in this situation, now even if I was wrong I would never in my life recommend this excuse of a trading website to anyone, not even an enemy.

My experiences with them begun with a VTSO placed for a penny stock worth 0. I learnt my lesson, so from now on any conversation I have with them I save, and I have hard copies of their rudeness and ineptness. Not the best for a newbee as this is where the real big dogs play such as fund managers. I had too many problems with the basic online application, which is a very early warning sign of the future problems with the trading platform.

Can some one inform me who is behind Questrade.?? I want to open aCanadian TFSA and that was my only reason for examining Questrade. Can anyone provide information on Tradefreedom? On the 5 th phone was busy all day, I managed to contact some Susan via live chat but she disappeared midway through the conversation.

Today I got through on the phone but only to the machine, nobody picks it up. Looks like they got way too many clients, more than they can digest. Their customer service does suck. This seemed to be a common story by the way, when a company just starts they all nice and plush, then they become too fat and complacent and they do not care anymore Sorry, just venting. If your trade issues relate to any of these securities, please contact our trade desk at 1.

Which brings me to your concern about telephone accessibility. We have been experiencing technical difficulties with our phone service provider. The major issue has been solved, but in order to prevent this problem from recurring, we are setting up a dedicated trade desk line which should be operational in the next day or two.

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I will return here to post the number as soon as it is live. If you cannot get through to the trade desk at the existing number aboveplease email me directly with your name and phone number, and I will pass the information along. Lynn Suderman Communications Manager lsuderman questrade.

Glad I found this post and comments. I was halfway through completing an application in the other browser tab but have decided to take my money elsewhere. All the comments here combined with my not-at-all-impressive phone call yesterday to enquire about a new account have convinced me to stay clear of these guys. The technical difficulties with your phone service provider, and your admissions of such, smacks of a small-time operation.

I thought it was my cell phone, but it appears it was the technical difficulties with your telecom service provider.

Thank you all for the education I could not find on official websites. I was considering Questrade due to the review in the Globe and Mail when it ranked all the on line brokers. I think someone should send them a link to this page. Thanks everybody … your combined comments have me convinced and I will be looking for some other on-line broker now.

Not that I needed much more confirmation … two days ago I spent well over an hour in a chat with an agent named Emil without ever getting a straight answer to a straightforward question. Their System was down again for part of the afternooon two days ago. They sent a message to traders on the trading web site about orders. I was initially introduced to this firm through a friend but quickly ran into several problems with them at an early stage; I closed my account with them after five months.

Since that unsatisfying experience with this company, I have openly told all my friends and family to stay away from them and would strongly suggest the same to anyone who is reading this post. Yeah, I have been having problems with Questrade too. I have been trying for a month to open a new trading account with them. It does not exactly instill confidence in their ability to hold my money safe, if they cannot keep track of basic documents.

Opening the account was smooth, however I could not get the account funded. I wanted to transfer 4 stocks from my Royal Bank RSP. They said it would take 10 days. After 32 days still no transfer. I canceled that transfer, thinking perhaps I did something wrong.

It was supposed to arrive overnight, but eventually after 5 days they found the paperwork, and then after another 32 days from that point …. So I canceled the 2nd transfer and gave up. If it is going to be that hard to put money into the account, how hard will it be to get my money OUT.

How much will they charge to close the account that they could not get to work in the first place? I tried to open an account online and had nothing but problems so I faxed all my documents except for the cheque, then to speed up the proccess I sent everything by courier.

I was told it would take days to be approved yeah right more like weeks. Finally they say ok we did get your documents and we will try to speed up the approval process. I give it till the next week to allow them their so called day BS. His response was you can send them regular mail and then asked if there was anything else I he could help me with, upon hearing that I hung up. I read all the negative comments on million dollar journey and now here and gave them the benefit of the doubt IDIOT.

All I have to say in closing is the comments have a lot of validity as I experienced it firsthand from rude incompetent chat agents telling me they never recieved my documents when they had to whomever was the STUPID!

I will be looking for someone else even if it cost a little more and I strongly suggest you do the same. I had funds with Questrade many years ago but transferred them out for a better deal elsewhere. Then last year, I realized I could make a percent more on some funds if I switched them to F Class. None of the brokers in Canada would let me hold F Class except for Questrade.

I transferred some funds to Questrade to take advantage of this. Then little by little I found more advantages at Questrade and kept transferring more funds there until I have almost everything with them. In November 08 I opened a joint acct. They promptly proceeded to lose this cheque as well. I put a trace on the chq. Two weeks ago after many phone calls and runarounds they finally located the chq and said they would open the acct in the morning and would receive an email with instructions.

I know from experience how slow they are so I gave them a few days. Today is Feb 17…I emailed them. I have made a very long story short here. I worry about my money with this company. If it were me in your shoes I would probably just put an end to the relationship. Tim Hortons is better organized — and more respectful of their customers — than that. Finally, I got around this week to checking on my cash and how much interest Questrade is paying me on all that idle cash.

But a Questrade LivePerson chat rep. In fact, someone glancing at the page might easily mistake the minus sign for a hyphen and conclude Questrade is actually paying them a generous 2.

They can update the value of my account balances daily, but not their interest rates? By contrast, my other broker, Interactive Brokers, not only pays me interest on my cash 0. Again, sneaky Questrade is not very up front in their ads or on their site about this stuff. Online stock transactions are not much more complicated technologically than are ABM bank machine transactions.

Anything more is indefensible gouging of customers by greedy exchanges and brokers. As I see it, people need jobs, and to get paid you need someone to pay you money. I think some of the fees are not just greed, but need. I am beginning to understand how technology has been putting a lot of desk jobs out of work.

Unless I was very close to retirement. Yet, I want the most for the least myself. I wonder if things are moving to fast these days for people to be able adjust comfortably? When I grew up you held the same job for 40 years: TD Waterhouse, for instance, pays 0. The big brokers like TD Waterhouse and RBC Direct do not charge extra ECN fees.

It could be a general criticism of the industry. Still, Interactive Brokers pays something, 0. Many US brokers have a wonderful system, where your cash is automatically swept into a money market fund each day, with interest rates comparable to, or better than, bank savings account rates. Your post reminded me of something too. My job niche I once worked in was killed by the internet and technology advancements. Internet and computer technology allows people like me to be self employed, working from home trading stocks.

Technology eliminates certian jobs, but it opens up brand new jobs for many others. Only the lowest commissions make daytrading online feasible. I made 28 trades 14 round trips. A sad Questrade is less-than-direct in stating on their site. I have only been with questrade for a month and I have already encountered three three major issues.

My very first day of trading the buying power was down for hours, they lost my void cheque, thus, delaying a withdraw request and today the server is down! This is all within one month. People who experience a problem are much more likely to post than people who have good experiences. Also, a reading of the above posts seems to show a relatively large number of day traders, inexperienced traders, and penny stock traders. These type of traders are all much more likely to experience issues with any trading platform.

Customer service is generally pretty lacking over the phone for most organizations. I know many fellow bloggers have accounts with Questrade and are happy with it.

But, a proper comparison of Questrade is not with Bell or Rogers. It is with its direct competitors. Your mileage may vary. Sure the Webtrader may have not executed one transaction request some time last year but that was just that one time and it was very brief about 5 mins.

I was a little pissed at the time but came to realzie that things like that happen from time to time. I will try to find it on the web and post it here for those of you who prolly want to try it out with free trades and see how the whole experience goes.

I think that would prolly be the easiest way for people to make up their mind on whether Questrade is good or forex brokers list in pakistan. Anna, you MUST make sure to input the coupon code: So for those signing up make sure to type in the coupon code: Dealing with Questrade is one of the most frustrating experiences in my life.

I just signed up for Questrade 2 weeks ago…but I heard no mention whatsoever of this? I am actively spreading the word of my ordeal through any medium I can until the problem is fixed I have gotten a letter to the editor posted in the Kingston Whig-Standard and am awaiting publication of my letters to the Toronto Star, Toronto Sun and the Globe and Mail.

A few months ago I left them for Questrade because of the cheaper commissions and their favorable consumer ratings. Up until the morning of March 5, I had a very good experience with Questrade, I even got my account set up in only 4 business days, which was very impressive! Also, I have a TaxFreeSavings account, which means no margin account, no loans, no borrowing, no overdrafts. I can do transactions up to my current cash balance, any more money and it will reject the order because of insufficient funds.

With that in mind……. The night of March 4, at 4: The morning of March 5, at 9: I suspended my account at that point and stopped trading. Boy was I wrong, the real fight had just begun as I spent 2 hours and 06 mins.

He refused to understand that I sold stock for this price and then my account balance said I had much less then what I sold the stock for, even though this is very simple concept. He at one point 30 mins. Apparently Rob is a superhuman adding computer… either that or a bald faced liar.

I called him on the amazingly quick audit he was able to do and he hung up I have a witness who was also listening to the callafter 45 mins.

I asked if Questrade was found to be at fault, would the audit be free? I then attempted to go higher then Rob by using this excellent comment post and contacting Emil Vojkollari and Nicholas Roussos who seem to help people on this blog solve problems with Questrade, and guess what? I have left 2 messages for Emil seeking assistance in the matter timing the stock market pdf 4 for Nicholas asking him for help as well and both HAVE YET TO RETURN ANY OF MY 6 MESSAGES.

Questrade are at best a terrible company with horrendous customer service and complaint response, and at worst criminal with gross misconduct on the part of ROBERT CHANDLER. Shame on you Questrade. OK the key here poeple here is all the brokers have These problems. Im ok with problem as long as they are tryin to better their service. I have used CIBC, TD, Qtrade and now questrade. Im ok with problems if you can still trade and the account is up to date… you should all track you with on a spreed sheet, to keep a second record so if the is a problem you dont get screwed.

I make to trade a month bucks to a month in trading commissions. It would be nice to se them do more for their active traders. When i sold the ETF the rate was 1. The second item was the account closing process. After 12 DAYS and various emails from me and being on Hold for a sum total of. HOURS over the 12 days, they sent me an email telling me that they could not give me my money because they did not have a cheque.

Finally got a service rep on the phone. He tells me that the money laundering Act says that they cannot send me my money. Questrade opened my account based on electronic signatures and electronic connections. Cleared cheque or deposit account method You can use either of the following methods, but you cannot combine them. It does not include. Now Questrade used that rule to open my account and take my money but when it comes to giving my money back they wrap themselves.

Am I upset— YES. I had an issue with their USDCAD conversion policies which differ from RRSP and non-registered accounts. First, they make it really clear that ticker indian stock market CAD account and USD account are separate and you are responsible for transferring money between them.

From what I can recall, that was the procedure at other brokers as well. I was going euro till sek forex open a new account but I stopped short just after reading this. I see here lot of negative comments. If Questrade really likes to get new clients they should post the reply for these complaints.

Even if the customer did something wrong, we would like to know what mistake he did so that others should not do the same mistake. It will save questrade from much of the bad publicity. If anyone like me reads these blogs, he will not do the business with the company. You will find all of these problem at all brokers,what i want too is if they are fixing the problem….

Please mind your language. You can register your disagreement or displeasure without being disagreeable. Apparently the IIROC is going to hold a Questrade discipline hearing on April 28th.

Will they be shut down? Notice is hereby given that a hearing will be held before a Hearing Panel of the Investment Industry Regulatory Organization of Canada IIROCon Tuesday, April 28, at Legal Transcript Services, located at Bay Street, 11th Floor, SuiteToronto, ON at The hearing concerns matters for which the Respondent may be disciplined as a Regulated Person of IIROC, pursuant to Part 10 of IIROC Dealer Member Rule The Respondent is currently an IIROC regulated firm.

The hearing is open to the public, unless the Hearing Panel orders otherwise. The Notice of Hearing is available at http: DO NOT OPEN AN ACCOUNT WITH QUESTRADE!! I initially opened my tfsa account in the begginning of March and my account was incorrectly opened to settle in US currency.

It is now half way through April and countless requests to have the issue resolved header with stock exhaust lead to no resolution. Im actually attempting to have the issue resolved once again today… keepin my fingers crossed… Do yourself the favour and pass these guys by.

A looooooooong story, short. A month ago I established with them TFSA account merryweather stock after last heist send 5, CAD. But my negative experience with their customer service alarmed me: After last unsatisfactory conversation, I smell a rat and requested close account and send my money back to my bank account, thanks that I did not invested money yet.

They use my money as free loan and make any excuse do not return money. But in Canada, we have as always very few options.

All the discount brokers suck here. We have to pick the less evil option. Jack you make a good point. In Canada we have very few options. And why is that? They have made it extremely difficult to open up a stock brokerage company…. They had my money to cover the margin but depts at Questrade were not conmmunicating well enough.

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Maybe we have a class action case and share some information and experience. My experience with Questrade has been awful. I have used their QuestraderWeb and Questrader Pro platforms. I have had nothing but problems with their platforms going off line in the middle of a trade, not being able to log back in and finally being able to contact their help desk when I had these problems was almost impossible.

I finally closed my account last month and have decided to move on to a more reputable broker. This company cost me money and frustration. Just talking to Yang on the QT chat. We can only echo the negative experiences with Questrade.

They have been the most unhelpful brokerage I have every experienced — by far. I use Trade Freedom owned by the Bank of Nova Scotia and have had no particular issues with them. Questrade has been a battle from the word go — with complete indifference from forex trade alerts nairaland customer service — adieu Questrade!

I have accounts with CIBC and TDWaterhouse. I really like that option if you are buying and selling quite a bit. The automated service is not the best and need improvement if you by chance need to pull off a trade over the phone with out using a broker or broker assisted trade. In the end you pay more but get decent service and can be rest assured you can make a trade when you need to and your cash is safe and will be there and can be transferred back and forth from your TD or CIBC bank accounts in a seamless click of a mouse.

In fact I have deposited funds into my TD trading account via a a guaranteed bank draft at my local TDWaterhouse Bank on a Saturday afternoon and have been able to trade Monday morning.

I will look into Interactive Brokers — if you are making allot of trades on the US exchanges it seems that is the way to go hands down. In the end I share brokers in navi mumbai it is a prudent idea to spread your money around to several brokerages if you have over K and that way you can exploit each trading platform for your particular needs and in the end play one brokerage off the other.

That Bob fella was dead on we Canadians are absolutely being hosed by the banks here in Canada. The result will be better service and cheaper rates.

For example I deal with forex trading courses singapore reviews different banks and have line of credits with all three.

I have been following stock market movements since at leastbut my first real move came along when I correctly calculated the stock market crash of to within minutes about ten weeks before the crash occurred. My mum, dad, older brother and sister had no faith in my judgement, so I went about things so discretely that apparently none of them realize the trouble I went to to this day.

I was basically doing the ETF thing long before ETFs were invented, but the trouble is that no one will believe my expertise until sometime after I have explained all of my methods to them. Now I have got a whole bunch of new methods that I intend to keep to myself for the sake of retaining some sort of trading advantage, and I have got to say that I am a bit bewildered as to why bloggers so often try to give their stock trading tips away to others for free on web sites such as this one.

My methods used to pretty much consist of going in pretty much the exact opposite of the directions or advice of the so called experts who used to write in the Financial Times, but those guys at FT. Another thing that bothers me is so called experts who tell me that they want to protect me from both upside and downside risk. Forex market in india ppt try to put my money in as much risk as possible of going up in value, but maybe I have been missing something and getting investments wrong since It seems to me that Questrade probably gets a lot of trouble and bother from traders who apparently have the opposite objectives to my own.

I was holding onto a stock called the sentry select income fund SDT. I contacted Sentry Select and they have told me that SSDUF. I am positive i have been paying interest on the amount. It is truly a disaster.

I feel terrible for referring 3 of my friends to this platform. Questrade is the absolute worst online trading platform in Canada. There trading platform is consistently down, there service is abolutley the worst, they do not answer the phone. If and when they do answer the phone the people working at Questrade lack skill to solve problems and do not do what they said forexworld bank accounts would do.

Everything I am telling you is the truth, if you need an online broker, go to itrade, or RBC, do not use Questrade. Or if you wanna lose your money quick enough. After reading through some of the post here — it is quite disturbing that I had already open an account with Queatrade. I trade forex and opened an account with QTfx — my experience was not as pleasant as it was with other forex brokers that I had accounts with. I find there CSR very tardy in addressing concerns.

I have bee trying for a month after hours stock trades close an account with them. My SIN is apparently wrong and is thus preventing an ATON transfer. I sent them proper documentation over 3 weeks ago.

Capital One Investing | Frequently Asked Questions

They told me the changes were made. They keep on telling me my SIN has been rectified but I have tried placing 3 ATON transfers and they have all been denied for an incorrect SIN. It forecasts forex software trading signal come to my attention through extensive conversation with their supports team -who will never answer the phone, ever- that they have multiple databases, some with my wrong SIN some with a correct SIN.

Well, of all the complaints so few people leave a contact email or any validation whatsoever. Here are a few of my takes:. Why would you make a complaint on a forum that you know is monitored by Questrade Customer Service, then fail to give them any means by which to contact you? That gives me the impression that you only wanted others to hear you rather than solve an issue. If you think that I would just love to hear what you think about taxes if you actually made money.

Do you realize all brokers would have handled these issues in exactly the same manner? If you are subject to that type of information and read it as fact then I would recommend that trading is not for you as you will be required to do some of your own thinking to be successful. One that states for example you do not work for or act as an agent for any brokerage service? I have actually seen in the past in forums where a poster beats around the bush until he is specifically asked if he was an agent from a different broker, at which point he was legally obligated to disclose he was…but until then he acted much like a dissatisfied customer with complaints similar to those above.

For all you know I might be the CEO of a brokerage firm logging onto the forum in order to spread rumors about a competitor, why not build a ToS agreement that can hold some merit? I did not even need to sign in to leave comments on this forum nevermind agree to any terms of service whatsoever, and for turenne livestock market thorp reason I cannot believe a single grievance any of you post.

This entire aud usd exchange rate 30 june 2016 page is useless in my opinion.

Just my opinion though, and notice that I leave an email address so that anybody with information can actually contact me to help rather than allow my comments to snowball among rookie traders. This seems like the writings of desperate Questrade Executive….

Ask yourself this question: I have reviews of other discount brokers on this site, so why is it that Questrade forex pyramid scheme the only one with such a long list of negative comments? It happens very rarely.

That was not my point, the point was that most of those complaints seem to be coming from people who do not understand the very basics of investing and if you ask me they had no idea what they were doing, may as well have been a roulette table. I place no doubt in the story of your experience with questrade, but your story was well spoken, you detailed how you worked with the customer service, and also how your problem was remedied…. The point was that you sensationalize postings that are barely legible from people complaining about things a broker was required to do by law.

People who are going to complain about foreign exchange rates then blame the broker for calculating it and applying the charges should have stayed on Sesame Street a little longer before moving forex aud to euro Wall Street. The fact is I came here looking for reviews and on the whole I could not data entry jobs in navi mumbai from home much use for the page.

I am trying to select an online broker at the moment but did not find anything on this page that would really affect trading weekly options with chuck hughes decision to trade with Questrade or not to.

The fact is the only people who could coherently tell a story seem to have had the conflict resolved, while the other people Mr. Scott refers to cannot spell to save their life. No place in my message did I mention your original story I have only made comment that you poorly moderate.

You have brought it up again without making any type of statement of your own. Why not tell us if you belong to any affiliate programs? Why not tell us about FinanceAds. Do you profit from the sale if I click your link to buy a book? Seems to me like you are hardly an objective point of view. You want me to investigate every comment here, find out what the problem is, check with Questrade what went wrong, then go back and delete the comment if it is unwarranted etc. Sorry, but you expect too much.

Check out the FAQ page. You sure seem to take offense to the whole disclosure issue and your FAQ page is far from the full disclosure that you seemed to demand from me even while it is yourself making claims. Where in this world is it considered stockholders equity vs market cap to offer disclosure to question a claim?

In many instances it is ethical and also required what is the 1929 wall street stock market crash law to offer disclosure. Again…I just simply noted that the majority of the comments on this page are nonsense and pointed that out in the interest of the very readers rsi scalping strategy say you serve…or now say you cannot serve outside the FAQ page?

I would think then that my post sorting out the bad comments should be welcomed by you. Its no doubt to me you lost money when a bubble burst, for the mentality of this webpage is in my opinion the sort of thing a bubble is built on in the first place…. You seem to have gotten yourself emotional to the very mention of Questrade, go back and read my first post and no place in it will you find me defending them or pointing out good things about them, only pointing out that many complaints were invalid.

In many instances it is ethical and also required by law to offer disclosure when making claims. The idea that competitors would be spreading FUD about Questrade on an online forum is ridiculous.

The idea that it does not happen is totally naive in my opinion. Plus that is NOT what I said is happening in this forum…what I said was it is poorly moderated and that these nonsense posts are left to snowball among rookie traders who come for advice. I did not mention disclosure until I was accused of being from Questrade….

It bothers me more that the person who claims to be helping so many people will not fully disclose what his relations are to the organizations he reviews.

If my idea is so ridiculous what about the post above that complains he was charged exchange rate while trading in USD? Or how about that other intraday strategies for nifty options who complained that the broker closed positions in the wrong order? Ever hear of the FIFO rule?

It seems more like I hit a soft spot than anything. He refers me to the FAQ but there is nothing even close to disclosure there. Furthermore I have found a link on his page which refers to a review done by somebody else…. Please explain that if you can without sounding like YOU work for somebody.

If it is possible for somebody to contradict himself more than it will take more comments from the moderator to prove it. Canadian Capitalist, no I never said you should investigate every post, but by so prompltly replying to mine you prove that you at least read them all so why on earth would you leave such totally nonsense complaints on your page?

Or at least why not comment when they are so obviously wrong so that other rookie traders are not influenced by invalid complaints. In my opinion you are nothing more than an affiliate program and I could just as easily get truthful opinions about brokers from a used car salesman.

I am an engineer, I work in the semiconductor industry and I have no affiliation whatsoever direct or indirect with any financial firm.

In fact, it is quite the opposite. Regardless, I want Questrade to succeed because competition is healthy — it lowers prices and improves service for retail clients like us even if we have accounts at competitors.

Also, this thread is monitored by Questrade CSRs. They write back and ask me to remove invalid comments and if it is warranted I do. If anything, this thread is a headache that I can do without. That it why I take offense when you suggest that I have a hidden agenda here. I cannot do that for every comment and I feel it is unfair to expect me to. I responded to your comment because you said every complaint on this page is invalid. I assured you mine is not and simply observed that why is it that Questrade, alone among Canadian discount brokers, has this long list of complaints on a public forum?

I thought Questrade was the answer until I read this message board. My enthusiasm for Questrade has deflated like limp baloon after reading the posts.

I am thankful though that I read this board before I called Questrade tommorow morning. After much thought I have decided to open account with Questrader. My reasoning is that we should encourage small players if we have any serious intentions of not being exploited by oligopolies.

Canadian banking and telecom sectors have allowed the oligopolies to form to the detriment of the consumer who is gouged. I find the commissions structure of big investment banks like TDRBC, etc grossly unfair for the consumer wanting to trade US securities in RRSP and TFSA accounts.

I have been burnt badly by undisclosed commissions on forex transactions within tax assisted accounts…. I am willing to put up with small inconvenience in order to encourage a smaller player which is willing to compete…. I tried to open account today. Ran into how to win on a cold craps table problem actually a bug in their application for corporate account.

Unfortunately, that time does not work for me. Incidentally, I had called in the morning and was to told to open the account online. The complaints about poor customer service appear to be true.

I will try once more and then perhaps give up…. Customer service does not leave a warm feeling with me. I hope I am proven wrong soon. Just that no body thinks that I am lying…given below is the transcript of the chat session.

I am still willing to try them out…. It was not his fault. Just like a year ago, I have decided not to open an account with Questrade. Instead, I am considering options spread trading bot now owned by TD Waterhouse.

The downside is you can only trade US stocks and you can only hold a USD account. I went through this entire thread on Monday AM, Jan 11, to see what comments were like wrt Questrade. I was planning to open an account, and then probably transfer several accounts to Questrade. I went ahead and opened a TFSA account for test purposes. The New Account process started at I hope everything else will run as smoothly as this did.

Maybe the transfers will be more complicated but when things go well I believe that is also worth noting. Some have legitimate complaints tho. All electronic for most accounts. I opened my account with Questrade a couple of weeks ago.

I like to trade nyse and tsx but some penny stocks too. Well forget those with qt! Ecn fees make buying 20k shares a BTW — After my first mistake with placing a market order on penny stock, I made sure I placed limit order that took quite a while to fill, which is stupid in itself on a volatile stock.

I guess they keep the credit for adding liquidity and ding all their clients for removing. Pretty shoddy, extremely disappointed. Would have been nice to give the small Canadian company the business. If you have a limit order that gets filled in the opening trade of the day, then you will get dinged. OK, that is strange then.

I think you should ask them and them about that bogus fee and get them to cancel it. I was here on Jan 13 and mentioned that my experience with Questrade was positive. Since then I transferred one account from another broker to the Questrade account I opened 2 weeks ago and that went very smoothly too. TradeFreedom also used to clear through Penson, until Scotia bought them out and tossed them.

I had only one serious problem with Penson and that was a non-qualified option trade on currencies in a registered account. I argued that the trading platform should not have let trading weekly options with chuck hughes go through.

I lost, they won and I had to move it out. Whenever I have a question, I email them and they get back to me pretty quickly. Long term investing, with only a few trades a month. I too switched to Questrade recently. Between my wife and me we have about K in stocks and cash with them. My style is basically buy and hold, so my approach is pretty simple. In any case, for their website to be down during market hours is pretty amatuerish.

When you phone customer service you are on permahold for extended periods of time. They keep spinning the same bullshit line. They cashed it anyway. Evidently their back office staff cannot read English.

Spending winter overseas as I do, I expect to be able to access their website, especially during market hours. I am pissed and when I get back to Canada in the spring will probably switch to Trade Freedom or some other discount outfit.

BTW…does anybody have any experience with Trade Freedom? They told me that with our combined account size, we would have a dedicated customer service phone line. Most reports come out at 8: And forget trying to reach them to have it converted back to US so it can be sold premarket because that takes you back to the phone problem.

TradeFreedom has a very basic electronic trading platform but it works quite well most of the time. He cannot speak english very good. And they screwed up my request. I needed a form filled out by them, and they mailed it back to me blank! Neither can you by the looks of things. English is my native language. I can speak it like a charm lol. Your comment is not really a defense for the immense can i buy otc stocks on sharebuilder of Questrade.

I have been following this thread since it began and I can totally understand that many are dissatisfied. I on the other hand place many trades with the company and I have never experienced any of these ineptitudes. I guess I am lucky. But I do take umbrage to people that bring language or perhaps sometimes race into the equation. What has this got to do with the issue? Perhaps we should be satisfied that AT LEAST the offensive non-English speaking gentleman is sitting in Toronto and not Mumbai or somewhere in the Philippines where other corporations outsource to for cheaper and more pathetic services.

So leave out the language issue when moaning and complaining. This is totally off topic. For that fact I am embarrassed. But I am not embarrassed by pointing out a mistake made in the very language which Patrick is criticizing. Chris moneymakers world poker championship put and well spoken.

I will post when it is all resolved, whether it is good or bad I hope the former but fear the latter. Did you try contacting Lynn whose contact information is available in the earlier comments? Personally, I ran into problems at Questrade as well. But I also know a lot of people who are quite satisfied with Questrade. The outcome was as I had feared actually worse and my account will be closed as of tomorrow.

Hope it goes better then this experience! I think we all know Satisfied QT Customer ct autoclick make money QT employed and I find his existence quite amusing, am I alone in this? This cracks me up. If the employee in question does not speak well enough stock market crash 1929 political cartoon satisfy customer requests, then it makes no difference whether he is located in Toronto, Mumbai or Podunk Village.

I at least own and operate a design and manufacturing concern which supports multiple families. Trading is not for you Mr. A really paranoid and assumptive prick. How do you like that? My existence IS quite amusing. Thanks to one line-monkeys like you!

I do agree though that a lot of the time that English is sadly lacking in the service industry. Sorry Patrick and point taken. If we are to exclude the outsourcing which is damaging to our economy, I have to agree that there is no excuse for poor language in the service arena.

And hey… thanks for the immigration policies which allow people like myself to come here and make a success of our lives. I do apologize for the countless number of tools that we yes I am a proud Canadian citizen let in.

If I were to be even more assumptive, perhaps say, like YOU, I would assume that YOU are an immigrant too. Oh and Jeremy, I am so happy to have cracked you up.

But this is the difference. Remember how many times you bitch and moan about how you get connected with someone overseas when you make a service call?

You never do that right? And sometimes the command of the English language is somewhat acceptable. My reference was to to the affect on the economy…. But I simply refuse to believe Yes Mr. And we should all be used to it by now. How un-Canadian of us to be so intolerant. A little update on my questrade experience. I did finally get my issues resolved. The devil you know…. Their platform is far superior though.

Still no tfsa or rsp though. Had a response from them the next day:. I cannot say that I am fond of Questrade but I now have some knowledge about how they operate so intend to stay under the radar and try bpi financial market stock trades not get myself into the situation of having to deal with their customer service.

Just remember that you get what you pay for…. DO Forex charting software comparison USE QUESTRADE. Mail to Questrade CEO:. Your company has erroneously billed my account, and failed to reverse it. It was first called a USD conversion charge.

When I said thats funny, I dont have any US stocks, it became a data charge. I also received a telephone voicemail attesting to this. That was March 29, It is April 15, It is still not reversed. Please ensure this is fixed, tomorrow, Friday April 16, I hope further action is not necessary.

I just signed on to them but boy, are they slow in their account set-up area. It does not give me the most confidence. I have to agree with most of the criticism here. The bottom line is this: I think Questrade will eventually lose many customers as new brokerages spring up and competition increases leading to lower fees. Frig man im a super duper beginner when it comes to this trading thing and was going to give Questrade a shot — but after reading this entire thread im soooo lost.

Can any one please tell me what Questrade interest rate was for US Margin account,and I was told by one of its workers that 1. The stock splits 2 for one. I am e-mailing the CEO this Friday if I have no action… ANyway, I am out as soon as this is resolved. Have you considered contacting the IIROC? I hope this helps. I had a screw up before with questrade where I put in an order to sell but decided to cancel it.

The next day somehow I lost those shares with no rhyme or reason. Fortunately for me it took just one online chat to fix that. I hope you are able to resolve your problem.

Remember to keep all records and document everything. Omg, I am shocked after reading all of this. I tend to agree with of all people Doug. That said, when it comes to cash money, people tend to get a bit more upset than normal.

I guess at the end of the day we all want to feel like we are special when the reality is that the vast majority of us are not and are treated as such. Personally I think CS is at an all time low in this country, but we are still miles ahead of the US and many other countries out there.

For all of the negative posts up there, the main fact remains that they charge low fees for trades. Most of my problems with Questrade have been resolved satisfactorily, HOWEVER: I completed a transfer request to transfer my RRSP Account from Scotia McLeod in March There should be proper government mandated protocols in place to ensure all funds are transferred, otherwise fraud might be rampant!

Ready to go back to RBC — for much better service. Fees may be more — but service is incredibly better. Lots of bugs and the customer support team is extremely busy. I read the comments, no surprise… this is what happens when you deal with a company run from someone basement. I assume you had long put positions.

Depending on your time of purchase and the strike price, today would have been a good day to sell some of them. If your orders were not filled, I suggest you speak to a lawyer to sue for damges. I hope you documented the time you issued the order. That way you can establish damages. I suggest you bring a lawyer into the picture, and them document the date and time of orders, along with the date and time of phone calls.

Before leaving Canada we instructed Questrade in writing to take all dividends from common and preferred shares as cash we need the cash while being overseas.

That went smoothly enough. However, we also instructed in writing that 2 of our mutual fund positions take monthly cash as well. They continued to reinvest the monthly distributions into new units.

We sent a reminder email with a pdf copy of the signed letter. I sent a reminder email again today, and basically told them that I had given up, and that, since we are returning to Canada in April anyway, they might as well simply continue what they have been doing all along.

I suppose buying new mutual fund units is not a bad thing anyhow. Yesterday, I put two limit orders to sell naked puts on ABX. The orders were queued.

They were never accepted. There was plenty of margin power to sell the naked puts. I sent them an email to point this out. This morning my buying power was corrected, but then they put the expired puts back into my security position. While overseas, we like to draw out our dividends so that we can enjoy ourselves.

I am thinking of offering them my services as a trouble-shooting office manager. I would clean things up. The necessary heads would roll. Actually, the thought of switching accounts to say Scotia ITrade is rather daunting. Will Questrade screw up that transfer too? I am also concerned that perhaps, internally, they are so fucked up that anybody competent who might still be there will, out of sheer frustration, simply jump ship. Then their clients would REALLY be in a pickle.

I think we unsatisfied customers need to bring the various Provincial Securities Commissions into the picture here. I put in the withdrawal request online on Feb 3, and it is Feb 24, and I still do not have funds. A relative of mine is also having the same problem.

Hello, my name is Matt and I work at Questrade. I would like to take this opportunity to answer some of the concerns made by clients after re-launching our online services on February 7th. First off, I would like to apologize on behalf of Questrade for any inconveniences experienced as a direct result of our data migration. Our entire team is fully aware that some clients have not been receiving assistance as quickly or seamlessly as they deserve and I assure you that we are working diligently to deliver all the services you deserve.

Our software migration on the weekend of February 5th and 6th was by and large a success. However, as with any upgrade as sweeping as ours, there were some issues that emerged. Most of these issues have been fixed on our end, and our client services team have been working overtime to respond to your emails.

We are still experiencing higher than usual phone and live help wait times. If you require immediate trade services, please note that our trade desk hours are Monday to Friday, 8: If require a follow-up to an issue experienced that day, our trade desk will be able to use our backend system to determine what happened, and address your issue specifically.

Lawrence Let me offer my apologies that your directions were not followed. If you would like us to investigate this issue, please e-mail support questrade. Regarding any orders placed on February As for electronic transfer of funds, there are a number of factors that can lead to a five day wait time: When withdrawing, it will take day to process your withdrawal, then depending on your bank, it can take anywhere from one to four days to be displayed in your account.

You are justified in your concern. Waiting three weeks for a withdrawal is not ideal. Without your specific account information, I cannot say what exactly happened. I can say that at the time you initiated your request we were right in the process of migrating our software, and as a result we were experiencing a backlog of requests.

I can assure you that the backlog is now cleared and if your request has not yet been processed, it should be very shortly.

Please note that you can track the progress of your withdrawal request in myQuestrade, or send an email to support questrade. Register for blog updates using RSS and email feed. We are posting daily to the blog with common questions and issues, updates, and resolutions.

It seems rather futile to ask support at Questrade to investigate our written instructions not being followed. There were 2 follow-up emails sent. The letter that was originally sent and the pdf of same in the follow up emails was unmistakable. I disagree that the software switchover was a success. For one thing, our account was locked.

We could not issue orders on line. We were advised to call a number in Toronto. I called using Magic Jack………. After about 90 minutes the phone at the other end was apparently picked up, because I heard some voices, and then a click.

The call was cut off. Back to square one. Back to waiting in the phone queue again. I spoke to Alison after being on hold for more than 1 hour on the 3 Feb. She told me that we needed to give her a screen shot of the transfer from my RBC acc with my name on it and which I did.

She opened a new TFSA for me and ensure me that the transfer will be done in 2 days. I called a week later as the funds still has not arrived. After being on hold for 90 mins, I left a message and no one has ever called me back, I left 3 messages the next 2 weeks which have never heard back. On the 22 Feb, I finally got hold of a customer service rep after 90 mins being on hold. I sent the screen shot again which he promised it will be done. Then today Simar called to say the transfer could not happen and requested a void chq with both my wife and my name on it.

The transfer has taken almost a month and the funds are still not in the account, I voiced my frustration and was told that he could not refund the amount into my bank account and told me to go into my bank to ask for a statement with joint names on it or to recall the funds. His attitude was extremely rude when I asked him why we would need to provide joint account information as it is my TFSA which he could not explain. I am so very disappointed with Questrade as my wife has a TFSA with Questrade and persuaded me to transfer some funds into it for trading instead of RBC Direct Investing.

I am going to transfer my funds out of Questrade once it has arrived in my TFSA as Simar told me that is the ONLY option we have. Unless Questrade can provide some options to make up for what has happened as they told me it had nothing to do with the system upgrade.

I will definitely tell my friends and family to pull their accounts out of Questrade as the hassle is just not worth it. Their customer service is the worst I have ever experienced and the wait time on the phone is just ridiculous averaging 90 mins plus.

I consider time is money and who has time waiting on the phone for 90 mins every week to try to get a small transfer resolved. Takes hrs to to get in touch with any one, live help never works.

I tried opening RSP account, you opened another TFSA in bonus when I already have one with you guys. My TFSA is active since OctI am still waiting for National Post. Wonder how long you will last…. Currently, I have issues with their either accounting or converting problem—I had shares of TZA bought at However, after their massive and messy calculation, I now have 66 shares of TZA at average cost of I am a very active trader, and because of their errors, I could not dump my TZA yesterday and suffered loss and may suffer even more if my account still in this situation.

Long term issue, I almost never got a clear picture of how much money I have in my account, due the confusion of their service and account information. And as everybody mentioned, it takes forever for them to pick up the phone or answer my inquiries online.

I have contacted Questrade regarding my account balance and TZA issues. Will follow up how they resolve this problem. I am now giving them time and chances to correct their mistake. However, is this still not going well, I am thinking of a class action lawsuit against this company, anybody has any idea of what to do or anybody has similar experience? I really frustrated by the way how Questrade it is.

The problem was the notion of a class action law suit is that you would have to show measurable damages. In other words, you would have to show that lost a measurable amount of money due to your inability to access their service or their inability to follow instructions. All you can really do is move your account. I think back to when our account was locked after the conversion. You might be able to get the Securities Commission involved. The problem there is that such commissions are Provincial Jurisdiction.

Living in BC, I had to phone the BC branch, and then they had to phone Questrade in Toronto. If Securities regulation were Federal, they would have more teeth. Further to your notion that the software switchover was a success, I will offer further personal experience to dispute your statement. Any organization that is having problems accounting for its cash has, in my experience of years and years in public accounting I am retired now…….

Yesterday some dividends were supposed to be in our joint acount that have not yet made it there. This happened earlier in February too. The dividends at that time were directed toward the old account numbver, and took a day or two to get into the new one.

He then stated all the steps we were taking to minimize the impact to our clients. Please go here [http: Our internal processes were geared up to recognizing and correcting problems. Equally important was telling our clients what was going on. This we did through direct email to any affected clients.

But we also posted updates continually on http: We recognized the discrepancy and are working to correct it. It is not an accounting issue. In the meantime, the cash balance available in myQuestrade is the accurate figure. Prior to February 4th, the payment date was the day you received payment in your bank account. All clients affected by this change will receive an email with instructions very soon.

I am talking about dividends showing up in our joint margin account when they are supposed to. Although in some ways it is nice that someone at Questrade is noticing the issues being brought up on this board, it does absolutely nothing to address or solve those issues.

What else are they are going to say other than that everything is ok and the conversion was a great success. As an example, I have one position that for some reason on one fateful day was switched to the pink sheets version. Anyway, a request was supposedly made to fix the problem and that was 2 weeks ago. I guess this is what we get for going to with a cheapo online trading platform. This is my horror story — in dealing with Questrade: I have been trying to open an account from February 8, ; after a while I realized this company is NOT worth dealing with, it is THE WORST company in any business I ever had to deal with and now trying to get my money back.

I am going to see them today at 11 AM, at this point, I am ready to call police if they do not give me my money back. I have police number handy; also I have phone numbers of all major newspapers and few TV stations — I will be calling them to inform public about this. On behalf of Questrade, please accept my apology. Your experience opening an account with us was unacceptably long and frustrating. Can you please email me at mbasile questrade. I will expedite this with our client services and new accounts managers.

Okay everyone, just to update what happen to my situation mentioned above—Questrade promised to resolve to problems yesterday, they did, I could see how they they changed my account information—to lock my total equity in place, then change whatever shares or adjust whatever price to come to make my account balance right.

I am moving my funds to BMO Investoline where I used to trade. I might be paying more in commission but I know I can breath there. Client Service Supervisor, Katherine. She was one of the only few person I spoke to at Questrade could sort of help and polite. I will keep updated, just to give whoever an idea how this company is, and I as always, give fair comments. Actually, I am surprised if they were not in there already.

When I get back to Canada, I think I will move everything to Scotia I Trade…or maybe to BMO investor on line. Dividends from Bank of Montreal Common Shares were due by February month end. They are not there. I repeat…I am referring to dividends due into our margin account. I am also checking some other relevent dates.

It looks to me though I am not sure yet that dividends due in February from HR. TO are also missing. Please email me your contact information at mbasile questrade. My skepticism is borne out of fact that until yesterday I spoke with 5 different people at Questrade and NONE of them ever came through with their promises.

And when you bring question or suspicion in weather I even funded my account in first place by saying: Basile, for everything I said and posted here I have rock solid proof — documents to support and confirm that facts. As opposed to Questrade, I do what I say, so exactly as I promised — I did go to Questrade yesterday and I did manage to get my money back.

Do not have time right now but later on I will post how my encounter with Questrade went on, with some tips and information on how to deal with Questrade. Had a client specialist Andrew Morris called and went through everything together, but I still find it confusing and quite unbelievable they way how they reconcile my account balance. However they did and sincerely explained what has been happening to Questrade, and promised this situation will be changed after a few months and asked to consider to keep my account active.

I refused so due to the unpleasant experience with them. I dumped everything at market price and insisted to close my account, and they promised days I can go to their office and pick up my cheques well, they said they can send the funds to my bank but I am scared to wait forever.

My last post here is to advice whoever interested in opening an account in this company do not make the decision now, at least wait and see if they really do improve. Unless you were highly margined, or in highly speculative positions, you would have been better off just sitting on your positions. Securities themselves are segregated. It would have been quite alright to strip out any surplus cash balance before you transferred the account elsewhere. I have sent you two emails.

One describes an outstanding issue that is not very clear relating to distributions from HR. TOand the other is my contact phone in Colombia information where I am overseas. Well, when I went to Questrade yesterday to get my money back, I met with young fellow, in his twenties — by name of Andrew Morris.

He gave me his business card which says: It may be small thing, but what is Mr. Client specialist or Client Services Supervisor or Client Services Manager? Again, it may not matter much but WHY say to one client that you are you are: I mention this only because when I told Andrew that I spoke with Manager Steve — he did not know any manager by that name, so it appears even when you ask to speak with manager — it is not guaranteed that another person you speak with is really a manager or person in charge.

Questrade has acknowledged that dividends for HR. TO are indeed missing. They were supposed to be in our margin account at the end of February. Upon further investigation, it appears that dividends on CHR.

According to these 2 sites, said latter company is supposed to be continuing with their dividend of 5 cents per share per month. I suppose things may have changed about those dividends plans, but if they have, I have not seen those changes.

In any event, I see no such payment in our February account activity on myquestrade. Said dividends should be in our margin account. I just want our money. TO, which dividends Questrade has acknowledged as being due. I have been trying to transfer my RIF from my previous broker since mid-December and it is now March 7, I have gotten the total runaround, with many hoops to jump through, and with their blaming my previous broker, even though the broker approved the transfer at the beginning of January.

Each time I contact them, I have a two hour wait to gain access to the chat line, and several hours spent with chatting delays. Stay away from Questrade until they clean up their act. I have learned that CHR. TO will be issuing quarterly dividends, as opposed to monthy distributions that were done while they were an income trust.

This means at this point no dividends are missing from our shares in CHR. As of now, they have still not contacted me about the missing dividends from HR. This has to be a procedural issue. If small amounts of dividends can go missing, then so can large amounts. I cannot imagine that we are the only Questrade clients that have shares in HR.

We already had a February month end issue with BMO common share dividends, which did show up, albeit a few days late. Phoning them or getting on a chat line with them seems rather pointless.

I can never seem to get through by phone and the wait times for chat lines are unduly long. Are you you still going to tell us that your system conversion was a success? This is March 7. I am talking about dividends that were due at the end of February. Next up for me is going to be the Securities Commission. Lucky for you, I am being very, very patient, but even that has its limits. This bad publicity cannot be helping them.

Are you in Toronto? Contacting Canadian newspapers from here would be rather awkward. What would they fear more? Would they fear bad publicity more than the Securities Commission breathing down their necks? Just direct their attention to this Blog. It is not the mandate of the police to investigate incompetence, which, as far as I can see, is really the issue here. Yes, I am in Toronto, abut 20 min. On the other hand, BAD publicity can strike much faster and be much more powerful.

In this day and age where media strive to dig up any dirt they can, it may not take long to get them interested. In regard — me contacting media — I could do this only for my case, I could not do it for youbecause I do not know the details, and some other reasons.

But I could post some phone numbers, emailetc. As for contacting the media, all you have to do is direct them to this blog, and then we can see how thorough they are in their journalism. Each person, including you, can tell the media about their individual cases.

They are not supposed to be poodles for the securities firm. For what it is worth, I have contacted the BC Securities Commission living in BC means I have to deal with them. I will keep this blog posted as to what, if anything, they do.

Getting phone numbers of newspapers is no trick. I can do that from here. I have access to a Magic Jack number, which means I can communicate by phone at virtually no cost. Tomorrow I am going to Cali, and will be back where I am living on Wednesday. I will follow things up on Wednesday, including keep this blog posted as to anything Questrade does or does not do.

Who else wants to join me in seeking legal remedies? These jokers locked my account post-migration while holding February options and have yet to get a straight answer from them. Supposedly they could not figure out what I held in my account…. Forget the OSC or SEC, I went to them a few years ago with all the proof they needed for intentionally falsified financial reports, including explicit instructions to falsify statements and mislead auditors, followed up by threats if I do otherwise, from the CFO in audio-video, and have yet to do anything about it since the crime is done in Canada and the stock trades in the USA; OSC used that as the excuse for doing nothing.

Apparently it is too much work for them to coordinate with any other force in order to lay charges. I contacted the same agents about my Questrade debacle and one month later they still cannot figure out what they do for a living. I am talking about a publicly listed company that likes its earnings guidance to always be exceeded; nonetheless, I gave them a ready made case except that for whatever reason, politics, incompetence, indifference, or whatever it may be they chose not to prosecute.

Most likely politics, given some of the mansions being built at addresses where hush money was being sent out of the offshore accounts. The company I was with at the time chose the latter.

More or less same story as Enron except these guys also defraud the government to make up for the lack of real earnings. My investment dealer cannot figure out what I own and locks the account for a week instead, they need not falsify statements since they get to keep their license despite their self made issues….

You would think that since it takes one minute to check what I owned the Friday before the migration this issue would be solved in five minutes. Anyway, I want to find enough others in my situation to start a class action lawsuit that would put them on their knees and hopefully make them history. I had opened 2 accounts with Questrade few weeks ago and was waiting to transfer my positions there.

It looks like Penson has screwed up their migration because they are a correspondent broker of them. They should consider moving to another main broker which uses IBM-SIS for back office because it was working them before before Penson went to Broadridge or some other application provider.

Whatever the case may be, the oraganization looks unprofessional; and incompetent and my business is better off elsewhere. I was looking at Questrade for US trading in plan accounts. But it seems like I am better off with my current brokers.

Our account was locked as well, right after the system transition. I am not a super active trader. We were eventually able to let them expire worthless. In your case, it sounds to me like you have a case for damages. You should be talking to a lawyer on your own. To make it a class action suit, you would have to have a number of people who lost money because of the same situation i.

You really ought to go after this on your own. On the other hand, maybe a lawyer would have some ideas about how to gather up more plaintiffs to make it a viable class action. The very fact that some accounts were locked after the system change means that the system change was a failure. To try to dress it up any other way as Mat Basile did is fatuous. One might as well put lipstick on a pig.

The phone number that was given to make an over-the-phone trade was useless. I tried to get through, but was on permahold for about 90 minutes. After 90 minutes, a live body picked up the phone, but all I heard were voices and background conversation. Then the phone went click. Questrade did not properly staff or provide the necessary logistics for the needs of the system change.

By the way………our dividends for HR. TO due at the end of February have still not shown up. I am watching our account like a hawk. Who else may be missing money, especially somebody who might be extremely busy at work and may lack the time? I am retired, so I take the time. We have much more sizeable dividends due later this month, and I am very concerned that they may not show up.

As Questrade is a member of IIROC, apparently our concerns relating to their conduct falls within the jurisdiction of IIROC. I will see if I can find a Magic Jack or a Vonage number to call them from Colombia, where I will be until early April. For internet here, all I am using is an aircard for the local cell phone network. I am going to turn this questrade email off. It has been so long since then, that I do not care anymore. RBC will give me 9. I find it hard to watch a conversation between a Questrade employee and a screwed custeomer.

I never got my money into questrade. Thank god for their incompetence. Or I would be another loose screw trying to get my money out. Our dividends from HR. But their customer service — is WOW, I mean really WOW!!! I sent them email after midnight last nightwith an application and all supporting documents they were asking for. THIS MORNING, before 9 AM, email was reviewed and ANSWERED! I was shocked, really, and very pleasantly surprised. Then I had to call them, and did not have to wait at all, got live person right away.

If you do end up getting a Virtual Brokers account, please do let us know your impressions. I wrote about them when they first launched and it would be nice to hear from someone who has experience with them:. Well, I had bought of out of the money options that were deep in the money by the Monday after migration so I am also looking at who ended up with the offsetting short as it will be super great if I can show to a judge that Questrade or a related party owned the offsetting position and did not allow me to sell until they liked the price….

Incidentally, they allowed me to trade on the very morning when the earnings were out and somewhat weak…. As for the phone number for trading, I had quite a bill for the time spent waiting but at least I have recordings of all the calls including the quick hangups by the broker once I got through.

They could not even be bothered to say one word, just picked-up the line and hung up. Then I would call again trying to get CS direct me to a different number only to have the broker hang up again.

Too bad for them as I thought they were ok, for the price, for trading USD in registered accounts. But they took away gains I had made over three months through their behaviour and that is not a price worth paying. Please be careful about making unsubstantiated claims about Questrade or anyone else. We are contacting you regarding your complaint against Questrade. I was hoping to be able to speak with you about your experience today while you were available in Florida but was unsuccessful.

We would like to explain that we have received a number of complaints about the problems that Questrade is experiencing and we wanted to obtain some details about your issues with them.

We can tell you that we are continuing to discuss the issues with senior IIROC Staff and have sent a request to Questrade for details on what is being done to correct the problems they are experiencing.