Questrade Reviews 

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.

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...