Questrade Reviews 403

This company is all false advertisement, to put it nicely, mostly lies. Opened an account made a deposit, told interac takes 30 min. They then tell you wait 2 hrs, then 12 hrs. They claim to have fractional shares, yet another lie. Only to find out to withdraw your money wen it finally arrives, takes 3-5 business days. Wish i had read the reviews first.

Opened TFSA account and made etransfer that was supposed to take up to 30 minutes indicated in their website. Next day I called them because balance was still zero they said that the first transfer takes 2 to 3 days ( Nowhere indicated on their website) I called again after 3 business days obviously a new excuse was given that it could take 7 to 10 business days. I am regretting dealing with such institution. I will definitely close the account as soon I receive my money.

I have RRSP and FHSA accounts. Questrade makes it difficult to withdraw funds for HBP. Most of the time staffs are not helpful at all. It takes for ever for money transfers.

Horrible. They hold your money hostage and make you jump through insane hoops to withdraw. AVOID!!!

They hold customers’ money many times. I used e-transfer, and it said 'complete' in my history, but actually I get my deposits after 2 to 3 days. No matter the working hours or days, they give different excuses like holidays or office hours. Their customer service is very bad. They are not honest, so I don’t trust them.

Questrade used to have excellent customer service. Ever since they ran ads during the 2025 SuperBowl trying to entice people to switch to Questrade, their customer service has suffered greatly. I imagine the ads worked better than expected and they would seem to be under-staffed. I'd warn anyone thinking about investing with Questrade at this time. Until they can staff up to appropriate levels, any inquiries requiring them to take an action, seem to be taking several weeks or longer. Update (one week later): posting this review seems to have got their attention and they have now taken the requested action.

I just opened an account - added funds by etransfer - the transaction on questrade is showing cancelled - they say the money never came out of my bank account but it absolutely did. Total regret for a new customer - contacting my bank to get the money back and closing the account

Questrade is an absolute joke. I tried to set up an RRSP and it’s been “pending” for months. When I login in states “someone will contact me soon”… it’s been over 3 months. I’ve reached out via email, phone and chat, I’ve been told 5 different things by 5 different people.

Sufficed to say, after my chat interactions with a level of incompetence I can’t even describe. I’ll be moving my TFSA and RRSP back to my bank.

I have been trying to move my RESP from Questrade to another financial institution for about A YEAR NOW and nothing has been accomplished. Questrade keeps blocking the move at every point of contact from my other bank. What makes this so difficult is there is not a readily available phone number to contact someone at Questrade in person, it must all be done through their online platform. Like so many online companies nowadays, there's no issue in transferring money to them, but good luck ever getting it back! Going through this process, I wonder what the process would be like in receiving the RESP funds once they mature?!

I have eight trade accounts.. all were set up within a few minutes and quickly verified.. easily within half an hour I was buying stocks, crypto etc. then came Questrade.. I figured id add them due to the penny stocks.. big mistake! Account set up went as per usual.. figured all was fine.. it requested that I fund the account, so I sent $200.. the money transferred quickly, but nothing appeared in account, as in no account anything, images etc. just a green tab still telling me to fund account.. I contacted them by phone.. they walked through everything for verification and assured me my account would be set up in a few days.. well that was almost a week ago already and no updates.. no account, no emails, and no money! Dont think I like this app much.. if its not cleared up by tomorrow, then I am going to go after the recovery of my funds and will delete this miserable experience. BEWARE! Something not right about this one.

Sharique walked me through financial reports and data which I was not clear about. He was quick, knowledgeable and clear in his communications and I went away educated and pleased. A good professional

UPDATE: 4/30/2025
I finally received my money after three weeks of chasing Questrade with no meaningful response. Action was only taken after I escalated the issue by posting here and contacting regulatory authorities.

If you want to avoid a frustrating and opaque experience with a brokerage, avoid Questrade.

UPDATE: 4/29/2025
After three weeks of complete non-response from Questrade, I finally received a reply from an agent stating, “I apologize for the delay in response as I was not working for the past few days.” Yet my issue remains unresolved and my funds have not been returned.

Interestingly, after I posted on Trustpilot and cc’d Canadian regulatory bodies, Questrade suddenly became active — not to address my actual issue, but to post a generic public response here.

Perhaps Questrade should spend less time managing their public image and more time actually resolving real customer issues before they escalate.

UPDATE: 4/26/2025
Questrade has, via Trustpilot, requested personal information to verify I am an actual customer. Questrade will not respond to direct communication, but within one day of a negative review they take notice. I have already spent a tremendous amount of time attempting to resolve this issue through Questrade’s official channels, with no response. It is insulting to customers that the only attention we receive comes after posting public negative feedback.

I have now forwarded my case, along with full records of my attempts to contact Questrade to the relevant Canadian regulatory institutions for further review.

ORIGINAL REVIEW 4/24/2025: I opened a Questrade account three weeks ago, and it has been a complete disaster. I submitted all required paperwork, only to find the account listed as “pending with action required” — but no communication whatsoever about what action was needed. I had to reach out myself just to be told I needed to submit another document. I did so immediately, while on the phone with support, who confirmed receipt and told me the account would be open within 1–2 days. I deposited funds based on that assurance.

A week later: no account, no update, no communication. I followed up again and was told different documentation was now needed. I complied — again — and was told, once again, 1–2 days. Another week passed with no action. This time, I was asked more questions, and a rep promised to be my “point of contact” moving forward.

That was the last time I heard from anyone. I’ve now sent three emails to that rep with zero response.

I tried to withdraw my funds, and now they’re holding that up too — asking for more documents. I submitted them, and once again: silence. No action. No access to my money. No customer service.

Serious warning: Do not do business with Questrade. Their communication is non-existent, their onboarding is chaotic, and once they have your money, they vanish. I’m now stuck in a loop of unanswered emails and inaccessible funds. This is not just bad service — it’s predatory. Steer clear.

I read that they had issues with customer support but I naively thought I wouldn't need it. I simply wanted to transfer some accounts in from other institutions. It has been months with no end in sight, with many many hours spent on support with both them and the transferring institution.

I've received emails from Questrade (without any details), and my other institutions (with lots of detail) stating there are problems with the transfers. But when I call in I've been told there aren't any issues and my problem are imagined. When I give support specific details as proof, I've been told they don't have access to transaction history, any notes on my file from the back office, or any emails that were sent by Questrade. I've also been told that they have a policy that customers can't talk directly to the Questrade employees actually doing the transfer. It appears they are limited in doing only the things I can already do for myself, other than forwarding on my concerns, if I can convince them they are valid, as they have no way of determining this for themselves.

After discussions with my forwarding institution, which was surprisingly easy compare to Questrade, they sent a letter demanding Questrade correct the problem. So now Questrade rather than fixing the problem, is reversing all of it's transfers of funds and sending them back, which will likely take months again. And once they are back, they told me I need to re-initiate all the transfers again. But they never disclosed what problems they were having to begin with so how will I know the same thing won't happen again? And even if it worked at the current pace it would take 1/2 a year. Spoiler: I won't be sending the funds back.

Unfortuantely I transacted with questrade again after what happened last time. I tried to give them benefit of the doubt.They did it again. I was profitable on my options trade. I tried to sell my 'in the money put " at mid price of bid/ask, it was not executed. I switched to bid price which is lower, still did not get executed. I did not want the market to leave me, so I tried to sell it at market price. Yes it was executed at a loss! from $70 profit to a loss of $5. I believe they are not broker platform anymore, they try to get a cut of the trasaction too! people watchout! If you want to bleed to death by thousand cuts go ahead and try to do business with them- don't be fooled by 0 commission gimmick. you are warned trader and investor

I work at a bank and have deposited a small amount to try this platform out.
I used e-transfer for that, which I know sometimes is is a pain in the ass as I work the customer service line of a well-known financial institution.
The transfer was marked as "complete" on their dashboard, and marked as "accepted" on my bank account's... but the money doesn't show up anywhere.
Although they said they were gonna verify my ID with my Social security number, after I added the funds, it loaded a page telling me I "needed to take action" to get my account request through and the only button I could click on was "add funds."
I immediately called to ask my money to be sent back to me, but the line was closed.
Also, they used a "requested money" function, as to avoid people cancelling the transfer, which should've been a red flag.
I will call on monday and will get my money back, and I will on the line until I get it back, and will push and push until I get it. Eventually, they all break.
I'll had that no legitimate financial institution wil EVER ask you for more deposits OR pressure sell you ANYTHING.
Period.
Full stop.
I you're in Canada, use NBDB. It's a little longer to set-up, and you need a US account to trade US, but it won't kill you with conversion fees and you know that the audits are pristine and the security is top notch.
I will not even try any other discount brokerage firm ever again. The only other one I gave a shot to was Wealth Simple, and they truncate the charts and stop showing data past 1pm...
What the fck.

wish I could give them a zero -,horrible company to deal with

Absolutely horrendous experience, I have been literally trying to transfer in accounts for months to take advantage of a promotion.

The company has delayed my transfers to the point the promotions expired so I won’t get any promotions. I addressed it with their management and although they acknowledge there were problems with the transfers they are denying me the bonus.

On the bright side they did tell me that they have learned from the experience and will be better prepared next time, yes that is sarcasm.

Getting HORRIBLE waiting of 359/186 on chat/phone , completely lower end service by the Questrade Management.
In spite of knowing low on service agents , not extending SECURE email support ,rather preaching on using chat/phone but not improving service staff/level of support.

Waited one hour on the phone to get a simple answer. Tried chat. I was 173 person waiting!!!!! Tome to improve your staffing!!

Something SINISTER is happening at Questrade after they introduced the zero trade slogan. They have done done it again. Bought three contracts of AMD calls. The stock gapped and I made around 1200 dollars when I want to sell it at the mid spread which was 6 ( 5.95-6.05) they would not execute the trade, they wanted me to put it at market price , so that they can sell it at any price they want, I waited and the stock went down a bit and I am at $800. What is with this company, watch out people !!!🥺