Questrade Reviews 403

Scammers
Next to impossible to transfer funds or account out.
Despite sending all the documents, they do not transfer the account.
Will eat your money. Do not work with them.

Unable to withdraw RESP funds to pay for my child's tuition. After submitting and re0submitting innumerous amount of paperwork, they will still find a way to deny the request or send you an email with something like this "The reason we couldn't accept it:
Instructions unclear. Funds should be sent to beneficiary has been selected. Void cheque matches Subscribers name. Please amend & re-submit. Thanks." That is because me and son share account for easier money movement to pay the tuition! I am so frustrated with this company. When escalated to the manager, he assures you he will personally look after your withdrawal request and then doesn't return emails or phone calls. I would imagine dealing with other frustrated and probably by now angry customers.
This is happening twice a year for the last 4 years and I am done. I am transferring all my accounts to their competitor and pray I will get better service

I cannot sell my U.S. shares personally. For this, I am required to call the company's support team. I've already spent a huge amount of time and achieved no result. Why can't this operation simply be done online? What's the point of having an army of useless support staff who can't provide fast and efficient customer service? And to place an order, I have to call and wait on hold??? Guys, wake up – it's 2025 – no one calls anymore! No one wants to waste their precious time sitting on hold. This company completely kills any desire to work with it.

I transferred from another broker so that I can manage all accounts with one broker (other broker doesn't have RESP). I know hold TFSA, Margin and RESP with Questrade and this was the biggest mistake in my investment time.

They have so many hidden fees. They trick you into borrowing money by displaying the wrong amount of cash you have.

Customer service is abysmal, and even emails, they ignore.

The app also regularly crashes.

They are a deceitful and conniving bunch, stay away and listen to the reviews.

I'm a platinum level client, and I'm trying to get in touch with Questrade, but they won't answer the phone. If I do get thru, they find inventive new ways to deny service. Typically, I have to take the bus to their office to get service. Just imagine how bad the service must be for accounts that are not platinum or don't live on the Yonge St. subway line.

Every step of setting up account and trading has been horrible with them - wouldn't accept bank transfers - money would sit for a week and then get declined - no answer why until the third transfer worked. Activating account took forever. Docs needed to be uploade for verification. Said would be reviewed in a 1-2 business but took weeks. Suppprt is non existant

Withholding RESP funds illegally. Left with no option but to take legal action. Avoid working with this company and transfer all accounts ASAP.

I submitted a transfer order to have money transferred from my Questrade cash account to my Questrade TFSA account around the 24th of December. The confirmed to me that it will get transferred at the latest by 30th. I called again on 27th and once again they confirmed that the transfer will be completed. On 30th the transfer was not completed. I called again on 31st and they said the transfer will be completed before eod but it did not happen. I am not sure why they need so long to transfer money between accounts. I missed my TFSA deadline for that year because of their sloppy customer service.

Update: The Questrade Customer Service Team reached out to me after this review. It seems it was an error on their backend with the transfer going through successfully on 31st December but getting reflected on the frontend only on 2nd Jan. While i am still a bit disappointed with the poor communication before i raised this issue here as well as with how slow the transfer process was, I was happy with how the Customer Service Rep explained this to me and apologized for the mishap. I have also updated my ratings based on this.

Absolute terrible experience. Oh they say they are here for the customer. Not one call back from customer service. Finally a supervisor called twice and still not resolved. What was meant to be a positive experience for my son turned into a 6 month nightmare. Careful with your money from these guys. Trying to get a simple amount of $3K out for an RESP. Had to go through customer service,about 10 times, then a supervisor Peter Aligbe and now a manager George Baraz. Oh and the call back maybe between 2-4 days. They say they care, do they ?

Do not waste your money here, I have a pending account that has been waiting to be opened for more than 2weeks now with deposit of $500, how much do I need to open a new account exactly. I opened a new one at S.U.N. for only $50 and my account was verified in an instant. Investment should not be this complicated IMO.

I am having a worst experience in just opening a TFSA account. i uploaded all the docs they required, after every doc uploaded they need 2 to 3 days to approve. Id upload 2 to 3 days name change 2 to 3 days and on and on and on its been 3 weeks now my TFSA account is still not opened , they verified my id and my name now again they they asked me to upload Financial statement but why ?? Why i need to show you my statement , they dont reply to emails i deposited money..i got tired and requested to withdraw my deposit , that also said it will take 3 to 5 days wtf... and it took just a second to interact tranfer while depositing the money and now it will take 3 to 5 days wooooow.. amazing

Opened a TSFA account, and all was approved.
Then I tried to fund that account, and after numerous attempts, I kept getting error messages!
Their support service is a no service, while my TFSA account is a complete waste of time.
Questrade owes me money!

After three weeks of trial and many email they finally opened my account. I give them three stars for all the problems I had to open just one account. If I would be the CEO I would fire the COO right here and now because it is simply unaceptable that onboarding process is so much slow and no-automatized in 2024 with all the AI things and software automation that there is. Email for contacts is an old and inefficient way to manage new customers, they should change to chat only and give a ticket to any chat.

I had a conversation today with Maya from the Customer Service. She was very professional and solved my problem. I received a very detailed and precise email confirming our conversation.

So I found out that money was taken out of my tfsa account without my knowledge as per CRA documents.
I have been asking Questrade to explain why the money was taken out.

So far, I haven't heard back from yet.

Called CIRO they have a mission statement about being a regulatory body but told me they can't help.

So I suppose questrade is allowed to steal your money without punishment, I am still trying to find out why and how.

There is one thing about Canadian institutions they think the customer is a piece of excrement to step on.

Hoping to go public and see if I can get them to give me an answer.

4/12/2024 - I am a Canadian citizen living in the UK. I needed to open an account to move my RRSP so I could manage it from overseas. While the intial contact with QT was positive (ignoring the repetitive requests for information they already received), when it came time to transfer my RRSP from ScotiaWealth, QT dropped the ball. What should have been done in a couple months required me to start chasing them after 60 business days with my transfer request showing as "pending". I tried emails but got generic acknowledgements, no responses for more than a week. I tried chat but got blown off by someone who didn't know anything, promising I would be contacted - I never was. I got a generic email to contact my institution with no useful info about when they sent the request or to whom. I got an email today responding to my last email to them saying they can't deal with this through email and to contact them through chat. Ridiculous.
Ready yourself for frustration if you are dealing with QT. I am regretting it.

6 Dec 2024 - Update - Contacted by QT after negative TP review. Full and unreserved apology and acknowledgement that transfer request was not actioned appropriately. Apology for delayed email responses etc. Caller (Peter) acknowledged that it is not a good thing that a bad social media review gets a response within an hour but an email from a client goes unanswered for 9 days. The can and should do better.

My transfer is now complete and I am trading...so only time will tell if this was an anomaly. Upgrading my review to 3 stars... with cautious optimism.

I'm disappointed. Tried to vote on a takeover recapitalization. THOUGHT everything OK after getting control number. I have had to spend a whole day trying to vote. Finally after my vote was taken said could receive conformation in ten to 15 days. The vote needs to be put in immediately and I need questrade to assure it's done. Thus has been a crazy experience.

I have invested with Questrade for just about 4 years. Until 2 weeks ago I was happy however on Nov 7, 2024 I was not able to log onto my account, neither was my husband. This seemed unusual but as it was late in the day we thought perhaps their system was down temporarily. Nov 8 we contacted Questrade. as we were still unable to access our accounts. After a lengthy conversation with Neil, we were told the problem was not on our end and in the next hour or two things (?) would be resolved. Unfortunately the rest of the day we had no success. Being a Friday on long weekend we had no recourse. We made several attempt on both my husbands and my accounts to log in. At this point we realized our money was being held hostage by Questrade. We are not talking pocket change here. This is when I started to question my decision to invest with Questrade. Tuesday morning bright and early we called Questrade and talked with Faisal. Once again he did a bunch of trouble shooting on his end. We were on the phone over an hour when our call was dropped. After 20 minutes we realized Faisal would not be calling us back. We called back and after a very long wait( terrible music, just saying) we talked with Cisil. The entire morning was spent on the phone with Questrade and we were still unable to log on. In our opinion they were holding our money hostage as we were unable to make trades and even look at our balance. Like Neil on Friday (Nov 8) we were told the problem was on their end and in a short while someone from Questrade would be calling us and explain what had happened. We were also told we would be able to log in in 2 hours. We never received any calls and we still could not log in. Wednesday Nov13 we called again, we were connected to Rain the forth client rep. Once again she keep putting us on hold as she did her trouble shooting. I told her she was waisting my time as we had been through this already with Neil, Faisal, Ciscil and now her. I asked why we had been told a Tech Support would being calling us but we had not received any calls. I let her know I would not be hanging up until my husband and I were both able to log in to Questrade. Finally after hours were transferred to Justin a Tech Support. After jumping through many hoops we were finally able to see our money. Justin also said a Tech Support from Questrade would call us in a day or two and explain what the problem was. To that I responded...... a Tech Support like you? He said yes and it might even be him that calls us back. I pushed and said then why can't you just tell us what the problem is and he said it will take time to figure out the problem. It has been two weeks since we were blocked out of our Questrade accounts, and we have had no phone calls or explanations. I am not even sure if Questrade even knows what happened. If they do know, they are keeping it a secret. Our opinion is don't trust Questrade with your Money. They don't seem to have any answers.

I had an extremely frustrating experience with Questrade, and I would not recommend it to anyone. The amount of bureaucracy involved is mind-boggling. Simple processes are unnecessarily delayed with endless requests for documents, follow-ups, and back-and-forth communications. Their customer service is unhelpful, and instead of resolving issues efficiently, they make the process more complicated.

The delays and inefficiencies caused significant stress in my household. To give you an idea of how bad it was: the situation was so drawn out and stressful that it negatively impacted my dad’s health. No company should cause this level of distress over what should be straightforward financial services.

Adding to my concerns, I noticed that many of the positive reviews on Google seem suspiciously fake. It’s disappointing because they’re clearly trying to inflate their ratings while ignoring genuine customer complaints like mine.

If you value your time, peace of mind, and health, I recommend avoiding Questrade. Their lack of efficiency, empathy, and transparency is appalling.