One of the most popular online brokers in 2023, Questrade packs the punch to continue its streak in 2024 as well. From hands-on investing to robo adviser for DIY trading, it’s been a big hit among newbies and expert investors alike. With attractive fees, ease-of-operations, and an exclusive range of assets across IPOs, ETFs, bonds, and mutual funds, Questrade delivers on all fronts.
Twenty-three years of stability for a brand is no joke. That’s how long Canadian investors have been known to use Questrade to trade options. For Canadian investors hunting for a discount brokerage, it’s only normal to stumble across Questrade. Here’s why Questrade will still be the top choice for online trading in 2024.
The Lowest Fees For Basic Trading Guaranteed
First-time traders are always light on their pockets. Besides, they need to test the waters for some time before knowing how to put the money to work. Here, the brokerage fee remains a challenge, but not with Questrade. Whether you buy single or multiple shares, Questrade promises one of the lowest brokerages for Canadian stocks, starting as low as $4.95, and 1% share added as one goes up to $9.95 max. That’s far more profitable when you pit it against top competitors like BMO InvestorLine and TD Direct Investing. Also, signing up with Quetrade gives you free trades worth $50, courtesy of their partnership with Financial Geek.
Seamless Connectivity Between Website and App
A study in 2021 reported how 20% of individual retail traders preferred using smartphones for their investments. With come-of-age investors making informed decisions on the go, an intuitive app is the need of the hour. Questrade responded to the need quite early. The official app resembles the web layout, thus making it extremely user-friendly. Even if you aren’t very tech-savvy, you will have no difficulty navigating the options.
Making Passive Investment A Breeze
The perks of a passive investment are plenty. Automatic investments via robo-assist allow buying or selling assets when the price reaches a pre-set level. This is a great option for newbie investors lacking the brainpower in the early stage. Questrade uses a tool called “Passive” to help beginner investors effectively manage their accounts with a slew of benefits:
- Effortless building of personalized indexes for stocks you value with low-risk tolerance
- Quick rebalancing of portfolio to keep your assets in order when you’re either doing too good
- Passiv implements pre-set rules for dollar-cost averaging
Buy ETFs With No Fees
ETFs are highly recommended among major investment options in Canada, especially if you want to build consistent wealth over time. This is another area where Questrade proves its worth to novice investors. Typically, first-time investors aren’t sure of diversification with their investments. Buying ETFs through Questrade is rewarding as you pay zero commission fees.
You Will Never Have To Pay Any Inactivity or Annual Fee
Online trading platforms are often criticized for how they eat into investors’ profits, for instance, the likes of Qtrade Direct or National Direct Brokerage. Things aren’t limited to brokerage fees alone but annual and inactivity charges as well. But with Questrade, you will never have to worry about paying a single penny. Further, Questrade also houses a string of valuable features that include:
- Mutual Funds Center, a dedicated market research tool
- Intraday Trader for pattern recognition across trading opportunities for US and Canadian equities.
- IPO Centre offers relevant info on the latest IPOs and other structured products.
- Daily Newsletters, namely Bonds Bulletin and The Morning Brief, for useful industry news, market insights, and tricks.
Take A Wise Call With Your Trading Dreams in 2024
So, are you looking to make the most out of your trading decisions in 2024? With Questrade, you will be guaranteed absolute peace of mind. From the right advice to guided investment and zero commission, you have all you need to ensure a highly rewarding year ahead.