Option trading td waterhouse
Hi Pablo, Thank you for your valuable feedback. With Questrade you can transfer funds electronically from your bank account just as easily. Lynn Suderman Communications Manager Questrade.
Why Choose TD Ameritrade?
The app also enables you to chat with other traders and watch CNBC broadcasts. The first mobile app I mentioned is more basic, but it does have a unique feature built in worth noting. Invest in products or services you use or buy yourself. When you get a quote for a stock or mutual fund, TD Ameritrade provides you with all the information you need, including a summary, charts, analyst reports, and earnings.
You can have all your finances in one account vs. This makes transfers much easier. Plus, you can keep track of your finances better when everything is in one spot. Like I said before, I believe the value is there.
Choosing the best online brokers is no easy task. I had to be aware that comparing a full-service broker to a discount broker or options broker was going to be difficult. Once this comparison was complete, I was left with four of the best online brokers that excelled in specific areas. These four online brokerage firms cover the spectrum for anyone who would sign up for an investment account.
I knew I could recommend one of them to a specific group of investors or traders. The company still exists today and trades under the ticker SCON. This was the time of the first technology boom from The stock eventually went up to nearly double that and then crashed with the rest of the tech market. Being 14 years old and thinking this stock was going to go up forever, I rode the wave up and all the way back down — down to nothing. Check out the chart of SCON below and feel my pain.
You can see that the stock took two major spikes up and crashes back down I was involved in the first one. Staying disciplined can keep you from losing money and ensure you lock in your gains. By discipline, I mean picking your prices — where you get in and get out ahead of time — and sticking to them. The good news about many of the best online brokerage accounts is that you can start by trading virtually before you risk your money.
You can practice strategies and track your gains and losses without having to invest a dime using the same software the broker offers for real money. The best traders in the world are extremely disciplined and always on top of the latest research and trends in the market.
I worked with several of these people and witnessed it firsthand on a daily basis. The amount of money I would make on my biggest winning days was significantly more in comparison to the amount I would lose on my worst losing days. The experience was well worth it.
My recommendation to most of you is to open an account with a full-service broker. There are different scenarios in which you should choose each of these brokers I reviewed. Compensation does not influence our rankings and recommendations. However, we may earn a commission on sales from the companies featured in this post.
To view a list of partners, click here. Opinions expressed here are the author's alone, and have not been reviewed, approved or otherwise endorsed by our advertisers. Reasonable efforts are made to present accurate info, however all information is presented without warranty. Financial Markets Investing Saving Money.
The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. The negative comments are very surprising. I have been using Questrade since August , so far so good. Account setup was under 3 weeks. Online help is great. I would recommend you to try others before you recommend Questrade.
Maybe it is just because you have a low standard or you trade less. I have no issues with them, other than the days is takes to transfer money between my Questrade account and my bank account, which I can live with. The reason for this is simple: Questrade has no idea what your intentions are with respect to this security. There are many valid reasons why Questrade cannot simply execute a currency conversion when you buy US stock with an account that settles in CAD dollars the exception to this is purchases made within an RRSP.
While I admit this setup is not streamlined and pretty like the big bank discount broker websites, this is one of the reasons Questrade is able to offer dirt-cheap trading commissions. The cost-savings realized by not integrating these three websites are partly passed onto the customer.
Bottom line for me: Questrade is a good little discount broker for experienced traders who understand where the fees and commissions come from, and most importantly how to minimize them.
Traders just starting out might want to consider a big-bank discount broker instead. Every company has some satisfied customers. The main thing we should look is how many unsatisfied customers. Since huge amount of unsatisfied customers complaining Questrade with so much unpleasent experience, I would go to the companies with much less unsatisfied customers.
I think it is good to mention that Questrade ranked first in customer satisfaction. I tried to open an account with Questrade, ended up giving up, phone help was useless — conflicting information from support people resulted in emails requesting more or different information.
Too much frustration, have better things to do with my time. I was about to open an account… just to find your feedback on this site. Then I though… lets try their customer service and see what kind of phone support I would have if I was a customer.. No need to go further, I did the same test with other providers and got answered almost immediately.
That was the turning point to decide not to direct any investment to questrade. You guys just do not get it. You would like the best amazing trading platform with an excellent customer service to go with that? All I have to say is that if customer service and all the extras are essentiel for you, then YOU are the stupid person for even considering the cheapest broker at first.
I use Questrade since quite a long time now and I enjoyed the lowest fees on the market. Plus I needed customer service twice so far and got immediate answers. For the cheap discount broker, people do not expect the best customer service, but we need fair customer service. We also have to ask them to correct their mistakes that no one else having the right to do it.
Some people are lucky by never have any issues with Questrade system problems, but not everybody always lucky. People have to contact CR for various reasons. It is a very basic requirement. To wait 10 minutes for customer service is definitely meeting the basic requirements according to me. I need to wait 40 minutes with my phone and TV companies.
Also, I always waited no more than 5 minutes and got great service. It is also funny to read the same lame bad reviews on each Questrade review website. Some of them are even funny as people truly are the problem, and not Questrade. Anyways, I only wanted people that consider Questrade to get other perspectives that the ones from the mad people.
Everybody has his own experience when they deal with things in their life. When you get mistreated and speak out your opinion, do you want other people call you stupid? I opened TFSA account recently and had few issues opening but CS were able to help rightway on phone…it only took 4 days to open n fund account.
The only prob with questrade is that you have to log in at three different places to access different information…. Too many bad reviews to be a good company, if I saw people complaining like this on ebay feedback I would walk from that vendor.
Looks like i will have to do more research to find a better company. I think they were trying to defend themselves in the posts, but gave up somewhere along the way, too bad, would be nice to get their side to these stories.
Just to ify to place my hard earned bucks in…. VTSO virtual trailing stop: When entering the stop, enter the trailing amount not the desired price.
I have had no major issues with questrade since the past 1 year I have been using them. The only problem is unprofessional customer service which unfortunately is something I have learned to put up with to take advatage of lower commissions. TD Waterhouse is a great broker but not worth the commisisons they charge.
I just opened a Questrade account and noticed some discrepancies in my cost basis totals. I figured out the source, but I think Questrade should be more open about the extra fees. I was this close to opening a new account with Questrade because of their super low commission fees.
But if you read every posts, learn what mistakes they made and read everything on their website once or twice. It seems being the cheapest broker also attracts the dumbest customers. Overall, I find Questrade to be good. Maybe I should switch those investments over too. The 2 cons I can think of however are a not as much inventory of bonds for sale as TD and b is there a risk to Qtrade going out of business???
Even the better business bureau BBB has a rating C and 12 complaints launched against this fraud organization. Just create an electronic payee and add your account number and its there in a couple of days.
That said, they are not a perfect broker. I think my lot sizes are too small. I opened an account with questrade and transferred funds to my account on January 31, The account is no longer showing and the funds are not their either. They say oit there but after 2 weeks I am concerned. Try contacting Lynn whose contacts you can find in the comments thread. I traded with qtrade for a few months. I found them to be almost laughably incompetent and great at telling lies.
At one point when a trade would not close I called CS and asked why everything stopped for 10 minutes just after a nice run up in a fx pair I was holding. His answer was that the market stopped trading and that there was no liquidity in the forex market for 10 minutes. I got the impression that the company was a one man bucket shop. I was told after lots of emails to them and phone calls that I need tro set up my account again and that they had my money and would put it in then.
I did that today so I should see my money tomorrow. I hope it will be there. I will report back. Just to let everyone that Questrade live up to their promise and fixed everything up.
They did a big conversions so things go a bit crazy but now it is all ok. So far, the money has not been settled yet. Hoever, no response at all. It takes a few days to settle on the transfer. They use some company that is the go between between them and the banks to transfer funds back and forth.
When I transferred my account from my previous broker to questrade, things initially went well. After I contacted them several times by chat and phone, I eventually was told that I had to send them the proof I had paid transfer fees.
I thought that was something I should have been told right away instead of having to follow up incessantly. I eventually was refund, but my transfer is still showing as pending, 3 months later. I also wanted to initiate a DRIP on my account and I was told I simply had to upload the form and they would take care of that. I did that the very next day. A month later, again after multiple follow ups, I was told an uploaded form was not acceptable for the first DRIP and I had to send a original signed form.
Another person than me confirm the address on the envelope was correct, so I doubt this is a wrong address problem. My name is Matt and I work at Questrade. Please email me your information so that I can have a member of our solutions team contact you directly. You can send the email to mbasile questrade. Both issues were quickly solved, thanks. In the past, I traded a great deal on questrade and even became a questrade platinum member. My first year with questrade was great. Services calls were prompt, trading platform is quite reliable, and fees fairly accurate.
But for the last two years as questrade expanded and commercials become more prominent on BNN, services and platforms as well as fees have become problematic. During trading hours, calls to trade desk and CSR takes hours.
Even if you do get through, the level of service is incompetent. Even platnum dedicated lines takes hours to get through. Recently, questrade migrated to a new platform, many preferred shares have to be called in for trade. A week later, the limit GTC order conditions were reached and I called in to confirm that my order is filled. To my horror, the CSR told me there is no order and he had to investigate the issues and call me back later.
Guess what, he never called. Another issues is lack of integration for trading forex and bonds with equity platform. For investors with large basket of investments, you need adequate funds in both forex accounts and equity accounts to trade which severely limits market opportunities.
Also any bond trades have to called in to trade desk and are not reflected in equity account balances. In the past I have recommended questrade to friends, now the only thing I can says is beware…. I would like to address your concern head on: Our Client Services Manager will contact you directly. While I completely respect your right to discuss Questrade — pros and cons — in a public forum, we need your personal account details in order to investigate the missing GTC order.
Can anyone tell me which platform should i use for beginner? Anyone got a refer a friend code? I opened a new account with questrade on October 20, and have been having issues with the platform ever since. I brought the issues to the customer service attention who in turn forwarded it to technical support but to no avail.
I logged in to my platform at 7: Since i did not hold any positions in my account from the previous day, i called the trading desk and a trader said that they will take care of the problem and not to worry. I called back at 9: He put me on hold.
Few minutes after waiting on hold the shares disappered from the account box and a minute later the trader came back on the line and said that it has been solved by the back office, i confirmed that. Here are the details: On Nov 22, at I tried that eight times but the orders were all rejected on the groung that i dont have enough shares. I realised that there is a system problem and called the trading desk and explained the problem.
I was on hold for over ten minutes while the stock kept going down before the trader came back to tell me: The trader explained that i have to speak to customer service to see if they will take responsibility of the system negligence. Long story short, after begging the unexperienced customer service representative to transfer to a supervisor, i was FINALLY transfered to a supervisor who disappointed me more than the system error.
During our long conversation the manager was talking nonsense and was making things worse not better by blaming me for the error and that i have to wait a duration of time after cancelling an order in the account box to place another one he did not specify but said definitely more than one or two seconds and came up with a conclusion that this is why the shares went allocated. Please do keep us updated Sam. I have had an account there for almost 3 years without any problems.
However, the problem you describe should be dealt with accordingly by Questrade. If there is no documentation available on wait times for cancelled orders, or whatever the issue was, I believe you are entitled to compensation. I may have to move my account if they can not deal with your issue in an appropriate manner. I have a bad experience with questrade recently.
The trading was running smoothly at first although funding into questrade accounts usually took double time compared with TDW. I started to pull some money out in December, for the home loan payment.
Then I started to suffer a bad experience. My wife filled in the form and mailed it out at the beginning of December. So I did it on 13th, December. Nothing happened until I followed up on 22nd December. The custom service was great with their attitude.
He checked the file and told us he could not find the form at first and then found it later after we assured it should be in the file. We told him of our concern of the urgency and he promised we should receive the money after New Year. Things are back to square one. Meanwhile, my wife and I sent requests to withdraw fund from FX accounts on 29th, December. The two requests were only 5 minutes apart. We both chose CAD wire transfer because we thought it might be the quickest way.
Although the website says the exchange rate will be the rate on current day if request was sent before 2pm, which we did, we thought its fine. My wife received the money on 2nd, January as the wire transfer claimed, days.
However it did not happen to me until I called again on 3rd, January. Again, their attitude was great. How do I know they intended to hold the fund or because of their negligence. I felt very frustrated and going to close all the accounts, same with my wife.
Did the questrade changed? Now when I log in I get a whole bunch of notices and all I wanted is a summary of my accounts which I use to get and that is what I wanted instead of entering one account at a time.
I am happy to assist you with that. Due to the security enhancement, we recently made many changes to our account for Myquestrade. If you want to check the account summary for However the tax slip has not yet posted online, it will be posted around March 6.
I have 4 accounts and I just wanted to see the summary. Use to be that once I log in I can see all 4 accounts. If your accounts are not opened under the same login ID, then you wont be able to see all the account under the same login.
Now when I login I see a whole bunch of notices and I have to go to my accounts and click on balance and positions and see each individual accounts. I am sorry about the inconvenience, that is the default setting for Myquestrade, nothing we can change. Too bad, please let your management that if this is the case, it is a real step backwards.
I am switching to another broker that has a more friendlier interface. You save a few dollars on the commission, but you could lose a bundle by not being able to trade when you want to. I currently have a tax free savings account with Questrade and am trying to create an RRSP account by transferring my balance from another broker to Questrade. Claiming low commision of 4. You have to wait 1 hr to get someone to answer your call; 5.
I have been with QT since The only reason I stayed this long was because they let you avoid currency conversion in RRSP accounts. I am glad to say I am done with these bozos. Their service is crap, their CSRs are incompetent and their hold times are inexcusable.
The slightly lower commission is not worth the headaches. If you want low commission and are a trader, Interactive brokers is the best choice. The only reason was because they let you avoid currency conversion in an RRSP account. Their service is crap, thier CSRs are incompitent. I have had several accounts with Pestrade, and I am transferring the last one out before the company implodes. I want to share with all people that are thinking to open a Questrade account and also to the already clients to be very carefull.
I open an account on March I fill all the papers as canadian citizen as I am. I sent to her all my stock list , with all the dividend payement and also I sent to her how I was calculating them. In front of evidence she accept that was an error???. I have to escalate to a supervisor Lulu, they refuse to give as the last name for all the staff , and she tell me this will be corrected very soon My demand was made at the begining of july one month and nothing happens.
The relationship with a broker is based on confidence and transparency. I ask to them WHY? She tell me something that is very suspicious: If Questrade make with hundreds of client that they trying to do with me. You could be stoled by I had the exact same problem with Questrade many years back.
Other brokers seem to have no trouble with classifying clients as Canadian residents, so I wonder why Questrade has difficulty with this. Questrade is absolutely the worst for customer service. Needed a password reset and was in queue for over 4hrs!
I will not trade with them again as I only trade options and I do not like not knowing if I will be able to log into my trading site the next morning to sell the options. My spouse and I are waiting for Questrade tax slips to be finalized — again. Our customer service experience has been horrible. There has been almost a year of staff turnover and empty promises to fix our slips and get ETF income properly assigned to the right class.
This has been a big problem with covered call ETFs where the call premium income has been mistakenly classified as other income. We have to go to Horizons and spell out for Questrade what they should be doing and where the mistakes are on T3s.
Time in money too. If you are unfortunate to ever have to rely on Questrade customer service you will realize that it is not worth it. We switched to Interactive brokers and the fees are low, the online chat is responsive, emails generate tickets that are responded to within hours. The currency conversion costs are very low at Interactive Brokers too, and if you have a margin then the rates at Interactive are a lot lower.
Questrade I have found may be good for informal trusts — the jury is still out on this because the tax slips are not helpful in assigning the gains to the beneficiary instead of the account holder. The trailer fee rebate on mutual funds may be of value to some people.. For a non-registered account, where you need to get proper tax slips, and especially if you hold Horizons ETFs or others?
Could it have anything to do with their affiliate program? How about full disclosure? These guys are a bunch of crooks. I closed my account in There is no company I hate more than Questrade. If you think Rogers customer service reps are bad give Questrade a call. No last names, no accountability, no desire to actually solve your problems. Save yourself a major future headache and stay away.
Questrade is absolutely the worst brokerage I have ever used and I have used many many over the years — big and small. They are incompetent, inconsistent, and outright liars. They tell you they will look into your issue but want 10 day to resolve it. You call back 10 days later and they are unaware that they are supposed to look into an issue.
You phone back again — and you guessed it — nothing new and no solution. With Questrade it could take that long apparently. Any other broker could do the same in 6 to 8 weeks.
Spend a few extra bucks per trade — it is unimaginably worth the extra cost. I set up with Questrade around the same time the market was melting down 5 yrs ago.
Most serious problem I had was that they seemed to lose track of some of the purchase prices of some of my stocks. I had to go check my online statements and have them correct it. Quest Trade customer service really bad. I have never seen such a poor response towards customers request. I went in their office to open an account I requested the representative to let me know about any offers or promotions.
She only informed me about the offer for which i was not eligible. After opening the account i got to learn about the offer which should have been given to me by quest trade i.
So i reached out to the customer service and requested them to provide me that offer. The representative assured me that he will back date the offer as its not my fault. But after 2 days on following up on my request the same agent told me that my request was denied and i cannot get the offer. I will only get 5 trades free i should take it or leave it. I would ask you guys to stay away form them. Its better to pay few cents extra than to get poor customer service.
My Questrade tax slips are being updated again this year. Questrade is so frustrating. They have all these hidden charges and feees. I wish I could say otherwise, but my experience with Questrade has been really, really bad. I hate Questrade so bad. Customer service is terrible and they do their calculations like Rogers. Questrade is really bad if you trade penny stocks involving large number of shares for example I wish I did my due diligence before signing up for Questrade.
ALL of their advertising is extremely misleading!!! You do the math. They will advertise that if you transfer over, they will give you these promotional bonuses. I signed up with two separate trading accounts with Questrade with large sums. I have yet to get any of my bonuses despite calling in several times. They say they will even pay for your transfer costs. Took one month to set up both my accounts. Their website is down for upgrades after trading hours every day! Look at the rest of these reviews and I think it is strong enough evidence that Questrade is no good!
Now I understand why they say Questrade is a discount broker. You pay for what you get. To above upset users, I want to share my experience. I left Questrade and then got new trading accounts with different banks. It has been for years, and I have been very happy with my decision. These banks have very professional system and excellent customer services. Questrade Review August 13, at 6: Opening an account was straightforward and intuitive. Transferring securities and cash in-kind was smooth.
Questrade offers live help via chat that is very useful if you work with computers in a cubicle. You can get your queries answered while working instead of waiting on the phone for a customer rep.
I have been able to get help whenever I needed it and almost always the issues have been resolved. To move US dollar funds you have to write a cheque that takes as long as 20 days to clear or request a cheque and then make a visit to your bank to deposit it.
When you open an account with Questrade, you will have to remember three passwords: This article has comments MillionDollarJourney. Mark August 13, at 7: Phil S August 13, at 7: Canadian Capitalist August 13, at 8: GIV August 13, at I mean, how much has the market changed in the last three weeks? Canadian Capitalist August 13, at 7: The Dividend Guy August 13, at Emil Vojkollari August 14, at 4: Thank you for your review of Questrade.
I would like to comment briefly on the Cons: Canadian Capitalist August 14, at 5: Emil Vojkollari August 15, at 1: I apologize for not explaining it properly. Earl August 16, at 8: From what I gather now it seems you.: Transfer money from a current bank account via cheque, transfer to my Questrade Account.
Average Joe August 16, at 8: Canadian Capitalist August 16, at Your steps are correct. I followed the exact same steps in my recent purchase of VEA. Average Joe August 17, at On their site, they say the following: Just got my answer back. Emil Vojkollari August 17, at Canadian Capitalist August 17, at Ann August 19, at Jennie August 19, at 1: Emil Vojkollari August 22, at 1: Please contact me with any further questions.
Canadian Capitalist August 22, at Frank September 7, at 9: Questrade September 10, at Dear Frank, Thank you for your comments. Questrade welcomes positive as well as negative feedback. Pablo Corzo September 12, at Frank , although i dont believe its the worst platform , i believe that for an active trader it lacks certain requirements that are crucial , specially for scalpers or day traders, although i believe its a very strong plataform with great potential , the following remarks should be taken into consideration: Questrade September 17, at 1: Hi Pablo, Thank you for your valuable feedback.
I appreciate your good words about Questrade. Frank September 18, at 2: To add to Pablo Corzo. Where is the Manual for QuestraderPro? This Java based program is sluggish on slower machines.
The Account box needs to display my actual funds, not just my buying power. I only see 3 prices on the bid and ask. This is level 1 quote for QuestraderPro? Richard Massicotte September 22, at I just opened an account with Questrade last week. Canadian Capitalist October 3, at 8: Alex October 4, at 2: Pull from your USD account at a bank. Canadian Capitalist October 4, at To fund your USD account quicker, just follow the steps I outlined in another post: Jim October 5, at I recently left Questrade, for 2 reason: Questrade October 9, at 5: Rene October 12, at 5: Questrade October 16, at 5: Dear Rene, I apologize for the misunderstanding about your data levels.
Jason October 29, at 2: Thanks to our effortless trading technology, research amenities, support resources and access to practical investor education, we are becoming more than just innovative - we're becoming the standard. Important Information About Heartbleed Vulnerability TD Ameritrade websites, trading apps, and mobile apps do not utilize versions of OpenSSL that are susceptible to the recently announced Heartbleed vulnerability, and have never used them. TD Ameritrade was evaluated against 26 others in the Barron's Online-Broker review, March 10, , and earned the highest score in the categories of "Research Amenities" and "Customer Service and Education.
Barron's is a trademark of Dow Jones, L. Offer is not transferable and not valid with internal transfers, accounts using the Amerivest service, TD Ameritrade Institutional accounts, current TD Ameritrade accounts or with other offers. Qualified commission-free Internet equity, ETF or options orders will be limited to a maximum of and must execute within 60 days of account funding.
Contract, exercise, and assignment fees still apply. Limit one offer per client. Account must remain open with minimum funding required for participating in the offer for 9 months, or TD Ameritrade may charge the account for the cost of the cash awarded to the account. TD Ameritrade reserves the right to restrict or revoke this offer at any time.
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