Questrade Reviews 403

I was trying to transfer funds from a BMO RRSP account to Questrade. So far, I have called them 3 times, and they have confirmed they have everything they need to initiate the transfer, but after a month, my funds are still with BMO.
Every time I call, I wait 45 minutes at least, listening to music I find unbearable. I asked them to turn off the music, but they said they didn’t know how. That music feels like torture…

This is a very unpleasant experience, and now I want to cancel the trasfer request.
I was supposed to get 10k for transferring arround 650k but it all seems a scam now.
I am on hold with them now, it's been 66 minutes so far. What a waste of my time!

Questrade recently moved to "$0" trade commission. This is bad news. My last 5 trades (not thinly traded stocks) I've paid about 1.5% more than the average price for that day. That results between $50 - $100 "commission" per trade. Put a limit order less than 1% of the current price and it won't close.

Ask ChatGPT "how to 0$ commission works when trading? how does the brokerage makes money?"

The answer I got is:
"2. Bid-Ask Spread
• When you buy a stock, you often pay slightly more than the actual price.
• When you sell, you receive slightly less than the actual price.
• These small differences accumulate into profits for market makers, which in turn share revenue with brokerages."

Good for them, bad for us.

Not even worth 1 star. The same false promises continue. My son's account transfer has been blocked for over six weeks.

February 27: Spoke to Chat Agent Gurvir, who confirmed the transfer request was accepted and would be returned to us by February 17, with an additional 10 business days—nothing happened.
March 13: Spoke to Chat Agent Warda S., who claimed the delay was due to pending action from the other institution, estimating 1-2 business days for completion—completely contradicting previous information.
March 13 (Call): Spoke to Agent James, who assured me the transfer would be done in 1-2 days—nothing happened.
March 17: Called again. Agent Faris stated the transfer was accepted on March 15, 2025, and would take another 3-5 business days—yet another new timeline.
If your company can't handle the workload, shut it down instead of misleading customers.

These Thieves have Robbed me Blind with their Options Commission Structure. Stay Clear of these Low Life Maggots!

I have been with questrade for a few years. I really feel things have worsened with customer experience, often times not really reading my questions via chat. Also, often the wait time has been up 30 minutes or more. I have since switched to TD.

Edit as of April 10th. Questrade did make a great effort to follow up, read the transcripts to me and the agent. They did admit there should have been escalation and that the agent is receiving extra training which does mean a lot to me! I have upgraded them to 3 stars, and in the future if I get positive reviews from friends/colleagues, MAY consider re-signing up.

As a former customer, I strongly advise against using Questrade. My experience was marred by significant delays in resolving basic issues with customer service, which led to substantial financial losses. Over nearly three weeks, our investments dwindled, resulting in a loss of $50,000. Furthermore, Questrade has an F rating with the Better Business Bureau, which should raise serious concerns. If you value reliable customer support, it's crucial to do your research and consider alternatives. The lack of effective assistance from Questrade could leave you in a difficult situation if you ever need help. If possible, I would rate them below one star.

Questrade sent the following message, but one week later, and there has been no attempt by Questrade to get in touch. I'm starting to think this is just a generic message, and they have no intentions of escalating my complaint;

"we're sorry to hear about the experience that you've had with us. This is certainly not the experience that we'd like for you to have with us and we want to get in touch with you directly to help clarify things better. We've escalated your review to our team and someone from our team will be connecting with you directly to assist you."

questrade doesnt respect or care about their customers. they say their responce time 1-2 business days. after repeated emails, it took them 9 business days to respond. we lost $70,000 in that time. We were on hold for hours, day after day trying to get a hold of someone who could help. They told us various people would phone us back. They never did. We were just lefy on hold watching our stocks crash. It took them 9 busness days just to tell us wether we had submitted the correct form. It was hearbreaking. Thats not even the only way they screwed us over. I have so much more! God help you if you let them handle your money.

I had 5,050 shares of a stock, and after a reverse split, Questrade claimed I only had 26 shares left. Based on their own numbers, I should have had 626 shares, but they refused to acknowledge the mistake or correct it.

To make things worse, they claim that I sold thousands of shares, but I never made those transactions! When I checked the app, it still showed that I had 5,050 shares, and I couldn’t even see any transaction history related to those supposed sales. After the reverse split, my previous transactions completely disappeared from my account, making it impossible to verify anything.
However, when I contacted customer service, they said they could see the transactions on their system—but I had no access to them on my end. How is that even possible? How can I trust a platform that hides transaction history from its own users?
This is not just incompetence—it’s theft.
After checking Trustpilot, I realized that I am not the only victim. With 100+ one-star reviews, Questrade has a clear pattern of scamming customers, erasing transaction history, and refusing to fix their “mistakes”.
Their customer service is useless, giving scripted responses without solving anything. If you value your money, stay away from Questrade before you get robbed too!

It was a terrible experience I had here because this company is full of deceiving their customers, and will lure you to add more funds and then disappoint you in the end. I wouldn't recommend them to anyone. I recommend PAIVA. They do pay.

I got amazing help from Michiko on 28 February 2025 for transferring my corporate account. He was so patient, courteous and informative to explain to me what to do so that I can do the transfer before the deadline. Many thanks to Questrade for having so great and helpful staff like Michiko! No doubt, I will recommend your company to my friends and relatives.

BEWARE!!!! This firm is not straightforward in its services, and if you don't want to lose your funds, don't ever engage anything with them. My experience with them was terrible because I lost all of my money to them. I wouldn't recommend them to anyone. I recommend PAIVA. They do pay.

I wanted information on how to download my statement and I am in line with 404 persons ahead of me. Either they haven't heard of Ai or Ai they have is disfunctional.

Terrible company- takes forever for funds transfers. Customer service is terrible and nobody speaks English as their primary language.

BEWARE OF THIS COMPANY
THIS IS ANOTHER PONZI SCHEME THAT IS designed TO RIP YOU OF YOUR LIFE SAVINGS, THEY MAKE YOU INVESTED MORE MONEY BY MANIPULATING YOU ,I'M SO GLAD I SHIFTED MY FOCUS TO OTHER COMAPANY LIKE "Ressu ,they deliver always

Not a trusted site. I am still waiting for my money. I choose to close my account. There is no customer service and the interface sucks.

Don't open an account.

The interface is incredibly hard to use. Wait times are over an hour when you call in. I turned off the $90 trade insights months ago to find out that they've been charging me for it the whole time. Call in to get it corrected but they said since I've made a trade during this time (Even though the system is completely convoluted and I didn't realize they were siphoning off $90 a month) they refuse to refund anything at all. Very disappointed. If there were any other trading options in Canada I'd be going with them.

I like the platform but the customer service is terrible. I've called 6 times with the same inquiry and I either get the wrong information or no information.

Generally a very good user interface. This AM, however, at market open, however, due to I cannot not Sell/Buy any of my stocks"technical issues," "Try again later." WTF!?! Major disruptions! Also, often takes minutes to get real-time cash balance updates on the site

Says simple market trades are supposed to happen instantly. Yet only once has that ever happened. Even simple purchases of one or two shares of an etf will sit in queue for a day or two, then accepted, then finally executes after 2 or even 3 days. So you're told you're purchasing at "market day" price, but then it finally executes 3 days later when the price is way up! How are you supposed to trade based on price when "instant" trades take this long?? I was told this was a good platform but it's garbage and I'm thinking of taking my investments elsewhere. But now reading these other reviews here snd on other sites, I'm worried about how difficult it may be to withdraw my funds. Is Questrade just a scam or what??