All reviews represent only their author's opinion, which is not necessarily based on the real facts. Beware — Avoid Questrade. What will you do about this situation? I do not act as an agent or work for any brokerage service.
I am not affiliated with any Questrade competitor. I do not profit from the posts. After reviewing multiple documents including financial, communication, phone, chat, e-mail and listening to pointless phone conversations with Questrade, I just could not believe what is happening and neither could the bank managers being ignored by Questrade while trying to recall the funds. So many try to talk to Questrade in private or file official complaints with the regulators, hoping they will do the right thing, without any results.
My best advice to anyone having serious issues with Questrade is to file official complaints with the regulators and then contact a good lawyer and your local media, because the regulators will not help you. What are the regulators doing about Questrade? Questrade function with near total impunity. After reading so many beautiful and glorifying reviews about questrade.
My personal experience is in sharp contrast with those reviews and closer to the bad experiences of the other customers. I confirmed with Questrade that I would be able to transfer funds from and to my bank account since the bank verification is complete, validated, accepted and I have a void cheque and valid ID on file with them. I was able to return, using EFT, part of my funds back to the same bank account that was originally used to send money to Questrade using bill payment.
All I want is for them to return my money and close my file, but they decided that my money was better off in their pockets. They also refuse to put a supervisor or manager on the line.
They do not care about their current or future clients. If you discard this application you will lose all information that has been entered. If you made an online bill payment or you paid by cheque, the amount will be refunded to you. Questrade is making money with my money and making a fool out everyone. This is not the only person being deceived, cheated and abused by Questrade.
Please do a quick online search to find all the horrible experiences and the negative comments from their current and former customers. Some Questrade reviewers have also been duped. Think about all that you risk loosing, if a bully decides to steal your money and refuses to give it back.
What would you do, if you were in a similar situation? Since Questrade will arbitrarily keep your money when you cancel your application, the following Questrade statement is completely false, a blatant lie and very misleading:. Honor what you have put in writing. No one likes a bully, liar or a thief. No one is above the law. Customer service is terrible.
They don't answer your e-mails. Signing up is a pain. The platform is confusing, it's buggy, and on top of that they've recently added inactivity fees in order to force you to trade. Now, I don't like my trading service with my bank any better, because of the prices, but at least it's relatively reliable, and they answer my questions. And by the way, folks, this is the only website that's given a proper review.
The other websites on Google have given Questrade good reviews, just to make money. These guys are nothing short of CRIMINALS, they often do not answer phone calls at all, waiting time is one hour or longer, they do not answer on emails, live chat is mostly not working. Or if you wanna lose your money quick enough. Because when their server down, you can't send any order or modify any order, and if you try to call their number you will be on hold forever. I was an active trader.
Most of the time the trading was ok, but at some point there appeared some trades that I have never done. That really kills you.
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 call , after 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 a good comment blog post and contacting Emil Vojkollari and Nicholas Roussos, both in middle management, who seem to help people on the blog I saw solve problems with Questrade, and guess what?
Shame on you Questrade. I joined Questrade about a year ago and about 6-months later i gained more confidence to explore Forex trading. Granted this review might be a little older but i felt that as a newbie into forex trading that Questrade has improved considerably because getting started was quick and painless. The design was polished and opening account was quick and painless you could do it all online. If you plan on signing up i recommend you use a coupon code such as: Your review will be checked by a moderator and published on this page.
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Canadian dollar United States dollar. Email Live chat Office Phone. Hedging Pending orders Browser-based platform. Open real account or open demo account with Questrade FX View contract specifications. Reviews 8 reviews of Questrade FX are presented here.
Avoid Questrade , Canada. Thursday, November 22, You should be able to transfer your funds. Can anyone trust a company who lies, deceives, cheats and steals your hard earned money? Since Questrade will arbitrarily keep your money when you cancel your application, the following Questrade statement is completely false, a blatant lie and very misleading: Questrade will do as they please with your money.
What will the regulators do about Questrade? Only time will tell. Please feel free to repost and share. Harry Chong , Toronto. Monday, September 10, Chris , Toronto, ON. Friday, February 18, Saturday, April 17, Questrade no longer exist as a forex broker.
Friday, August 28, John Tomson , Toronto. I had stocks and forex account with Questrade. Tuesday, March 24, With that in mind…… The night of March 4, at 4: Clara Robbins , Toronto.More...