Questrade Reviews 403

I really don't like questrade and support is waste of time. not help from support. I transfer 10K by pre-authorized and after week the request show completed on portal but money not in my account yet. support call very long and nothing output and I have to cancel my daily two call also.

I am so dissatisfied and disappointed with Questrade’s platform! I lost $2.5k because they had a glitched that lasted over 30mins why I was trading this morning ! After calling the customer service they ended up tell me they are sorry and nothing they can do about it!

I wonder if this is fair for me as a customer that I lost and they had nothing to compensate me on as if I had no right.

I have used this platform for over 3 years and they end up messing up each time i want to move ahead!

I don’t think I will forgive you!!!

They closed my account and wouldn't give me any reason. I have the letter for proof and it just says mutually agreed closed account. I called in for an explanation and they kept saying it was a "upper management decision". I asked if I did anything wrong I would like to know the problem and they wouldn't give me an answer. Don't go with questrade, they can ban you for no reason, very unprofessional.

Hidden fees. I exchanged USD to CAD .
Questrade kept 53% of the initial amount. Impossible to get an explanation. Abysmal customer especially the chat. They hate their job and make sure to let you know it. Extremely rude and dishonest.

I contacted the email address suggested in the reply below which redirected to their help page or chat. Useless. This company is a joke.

Questrade used to be a great choice for online trading, but their service has significantly declined. One of the most frustrating aspects is their high exchange fees, which can eat into profits. Additionally, their lack of automatic FX conversion in Margin accounts is a major inconvenience. While they do offer this service in RRSPs, it's inconsistent and frustrating. There are other brokerages that provide better value and more reliable service. Questrade needs to address these issues or risk becoming the next Kodak

This is my third review because I noticed some activity at Questrade and it makes me wonder if my first two reviews triggered the activity.

In my second review I mentioned the math fact if every customer was overcharged a similar amount as I Questrade would benefit by around one billion dollars.

A couple weeks after my second review I received a request to participate in a survey from Questrade run by a third party in Toronto, asking about my experience using Questrade.

My sense is the focus of the survey is about Questrade's brand awareness.

Having had such a poor experience at Questrade with missing funds and the stunning silence from George I have to admit I am biased. It makes me think about the old saying about putting lipstick on a pig. Improving brand awareness seems to me like putting lipstick on a pig.

A quality Canadian financial institution seems to me would not have so many negative reviews. If I were in charge of Questrade I would not be interested so much in brand awareness but rather improving the mechanics that produce the negative reviews. Silent George for a start could learn some customer service skills. I would move him to the support department for a few years where not only would he learn customer service skills but also educate support people on what can go wrong. The person to replace George would be someone who would be able and willing to make right every single issue that produce these negative reviews. For example instead of advertising $90 per month for the active trader service they could advertise what they actually offer which is $90 or a much larger amount around $400 depending if the active trader is a professional trader. In my case I felt deceived about being charged the higher fee. I didn't even see a definition of what a professional trader is.

As for the polite support department, saying over and over again they are sorry, they ought to be able to push the team to resolve the issue at hand. Every unresolved issue or poor experience has the chance to produce a negative review, a disappointed customer. Too many of these negative experiences could result in customers moving to more capable brokers.

In conclusion it seems to me it is the mechanics that produce the negative reviews that need attention not the brand awareness lipstick. Canada does not need a pig of a financial institution, Canada needs quality financial institutions.

As for the support department reading me review, please, I already know you are sorry, do the right thing and fix the problem please.

Absolute joke of a company. Customer service will ignore and dismiss you. And when you withdraw your money, they make up fees to take from you one last time

I needed assistance transfering funds in my account and agent Corneille was very helpful in the process. He was professional and answered all my questions.

Jeff: long term client

I've been with Questrade for years. I've hated it for years, but have been too lazy to change so far.

Pros:
1) fees for stock trades are on the low side in Canada
2) customer service reps are generally competent and kind.

Cons:
1) their website / trading platform sucks. It really looks like they hired a newly graduated web designer, took their rough notes, and just ran with it. the site layout is garbage. pertinent information scattered over way too many tabs. it's just clunky garbage...
2) inconsistent on its automated options exercise: sometimes it automatically exercises your options, preventing you from capturing last-minute market moves on expiration day. But other times, it doesn't automatically do this, so you couldnt even rely on it if you wanted to
3) related to #2, there is no "fully manual" mode. there is always some layer of "nanny" instead of offering an "expert mode" with full control. in particular, I have asked several times if there were a way to disable the automatic option exercise, but was told they couldn't. this has cost me $$$ in lost profits...
4) mobile apps suck. they have their old app "Questrade" and their new app "Edgemobile." The Questrade app is just as clunky as their desktop platform but I prefer it to Edgemobile, which tries to make things look sexier, but with even worse functionality

I'm going to finish my application to a different platform... Screw Questrade. Seriously, there have to be better brokers out there than this clown show...

EDIT: Well... I just had my first bad experience with customer service. When QT owes you money (referral, transfer fee refund, etc) you have to be ready to fight as they'll do everything they can to not pay you. Kinda sad actually. Makes me wanna change platform now.

I've been using Questrade for 2-3 years now. I'm using multiple of their products and I am very pleased. Customer service was amazing every time I needed help moving my accounts from a different bank.

I started investing with Questrade and I found out their app is really easy to use for a beginner like I was.

Wife and I are both investors. I use WS and my wife is on Questrade. Questrade has made so many questionable changes over the decade that the interface and the service received have been eroding year over year. It is at the point where I'm in the process of transferring out of Questrade and moving my wife's accounts to WealthSimple, where the interface is cleaner, way more simple and the customer service is far superior.

A few of my issues with Questrade:
1) The UI is a complete mess. (App and browser interfaces). The UI seems designed to purposefully confuse and therefor forces you to spend more time on the UI in order to do simple things. TD, QTrade and WS have much more user friendly UIs. I can get information on various accounts with a mere glance, without the need to go through a dozen navigations. Not so with Questrade.
2) The Margin account interface is made to accidentally make you spend from the margin instead of limiting yourself to cash in account. QT made it so that it is impossible to turn off accidentally buying on margin. In fact, if you have $1000 cash, the UI might report that you have $11,000.00 in purchasing power. To me, it seems like this is done in a way as to attempt to trick you to accidentally buy on margin.
3) Their customer service is laughable. I really should publicly release some of the absurd audio conversations I've had with them.
4) Because email verification cannot be turned off and is 100% forced as an option, if your PC is compromised, the compromiser can simply select 'email' for confirmation code method and from there, have full access to your QT account. Yeah....
5) For certain things, there is a merry-go-round with paperwork. Fill paperwork, submit paperwork, paperwork is accepted and a year later, have to redo paperwork. Year after year after year. I do not have any such problem, with the exact same accounts types at other institutions.
5) They have idiotic graphs that might look nice but have zero context. To be fair, WS also has these.
6) Lack of simplicity. You are thrown into screen after screen of unwanted data/numbers to try to find what you're looking for.
7) A few years ago, I wanted to open a QT LIRA for myself. Since I'm French, my I.D. reads a little different due to French people using a slightly different naming convention 40+ years ago. QT Tried to convince me that my middle initial is my actual name; I was incapable of convincing them otherwise. QT Is the *only* financial institution (out of several) that has tried to school me on what my name is. Passport, 3 physical banks, 2 online banks, 1 credit union and 2 discount brokerages have never given me this problem. I gave up since QT was only willing to open my LIRA account under my middle initial as my first name. The potential, legal ramifications of this terrified me.
8) They will not give you your tax paperwork until the very last day that the Canadian government demands it by. All other financial institutions (several of them) have filed the paperwork a month+ ahead of time, whereas Questrade cannot and will not do so until the very last day (even if you call them). Therefor, I cannot file my taxes early since it is being held up by Questrade and Questrade alone. I've complained about this year after year with no resolution or change. In other words, I file my taxes 3 to 4 weeks later than I want to because Questrade's policy is to drag their feet to the very last second.

I'm of the belief that Questrade has lost their way; I'm of the opinion that they actually don't care about the customer experience. What they do care about is making the process convoluted and more difficult in order to have people on their app for longer periods of time and to accidentally spend on margin. On the customer service side, they've become a bureaucratic nightmare.

As much as I tried to like QT, I simply cannot recommend them. I'm at wits end with them. It has been a multi-year, repeatedly unpleasant experience. Why would I chose constant, stressful experiences when I can deal with other companies and be happy and stress free? Time to move along and go to a company that (seemingly) seems to care about their customers.

What a horrible company to deal with, ultra keen to get you to deposit cash and open an account. Ultra slow to pay out. If you convert funds they will charge 1.5% on the fee, might as well use a credit card.

When you convert funds the money leaves your account immediately and the converted funds don't show up for days.

The trades used to be cheap, but you pay more in poor service and exorbitant fees for every other service.

Read the reviews and believe them, from my personal experience they are true

This is the worst platform to invest your money. I say this by my heart. I invested total of $12000, and could only withdraw $11180, cause majority of the part went into fees and conversion fees. Please read the terms and fees structure.

Horrible customer service!!! An account transfer is supposed to take 10-20 days and it have take 1.5 month. After chatting with a customer experience agent that have been completely useless, he told me it would take another 10-20 days for the money to be transferred. I told him I was extremely dissatisfied and he did not care AT ALL. I regret not going with Wealthsimple.

extremely POOR network. It doesn't connect to the internet once log in. always reconnected and eventually never connected when I wanted to purchase or Buy the stock using this platform.

I am a Senior. Never bought stocks ever until 2 years ago. Invested $20K in a stock through QT. It was a US company. Like the old days I put them aside and left them. Turns out Quest Trade does not take a 100% of the stock price out of your account to pay for the stock (conversion from Can$ to US$). They lend you the difference and charge crazy interest and fees. i had no idea. Lucky I checked my stocks recently only to find I have lost almost half my money to Quest Trade, They know they are doing this to older or first time stock traders making huge money. I can not believe the Canadian Gov lets them away with this....

I have been trying for 8 months to get my money back. There is always just one more ‘little thing’ to fix before everything is ok.

I don’t understand how this company is considered legit.

Alice Z (onboarding specialist) was so very helpful! Helped me open my first TFSA and transfer all the funds from another account which was a timely process, she is very kind, has lots of patience, and has great customer service! I commend her!

The platform itself is good but the back office is horrible. They will tell you everything is good to go, then another person will tell you they need something else. it took me 4 weeks and hours of calls to get my account opened and 5-7 times submitting & resubmitting forms that were already submitted (correctly). It's as though it's your first time ever contacting them each and every time you reach out. Absolutely brutal. Find another platform.

I have used Questrade for the last 4 years, and thought it seemed a rather smooth and simple trading experience. I made a large initial investment/deposit, and have periodically added funds, though have not sold many holdings. I have since found the platform to be rather predatory in regards to display and receivership of interest and margin account policies. I have a margin account, though ensured I always had adequate funds in the account as to never borrow or leverage my investment. Over the years I kept finding my cash amount seemed to drop and at times go into the negative. Both the app and website are set to show your "combined amount in CAD" The next option is to show your "combined in USD" There is 2 options you can click further over that simply say CAD or USD. I had always had a positive value showing in the first 2 options, and had never clicked the simple CAD or USD options. In spite of this, I was continually being charged interest. I would put a thousand dollars into my account to ensure this would not happen again. I would check my combined cash in CAD or combined cash in USD and would see a large positive balance, so left my account to grow and pay dividends over the last year. Upon logging in today, I found I again had a negative balance in spite having left it with more than 1 thousand dollars cash a year ago. Transaction history showed I had been paying approximately $200USD a month in interest. I could not figure out why this was happening. After calling in again I learned that my deposits had been in CAD, where as I had bought stocks in USD. I actually had more than $26,000CAD in my account, but had an even greater USD negative balance. In a margin with Questrade account the USD negative balance is held separately and interest had been being charged for the last 4 years, compounding monthly at a predatory 18% rate, though in the same account Questrade held $26000CAD, and in both options to look at combined CAD or combined USD it showed a positive cash balance. I never received any email, letter, message, or call about this. I will be closing all Questrade accounts, and feel like this policy of CAD and USD holdings being completely separate should be much more easy to see and understand.