Account
First steps
At Questrade, we're in the business of financial empowerment- your financial empowerment. Our goal is to help you confidently take charge of your finances, so you can be more financially successful and secure. If you’re brand new to investing in general, or just new to Questrade, here are some resources to help you get started.
Webinars
One of the best places to start is with our on-demand webinar on Getting to know your new account. This webinar walks you through the basics of using your Questrade account, including how to navigate around the trading platform and how to make your first trade. You can see the other on-demand webinars we offer here.
Frequently asked questions
When you first start investing, it’s natural to have questions. We’ve put together the most commonly asked questions and answers for new users to make it as easy as possible to get started on the road to your own financial success.
Note: In order to comply with anti-money laundering regulations, Questrade cannot accept deposits from accounts that don’t match the name on the account at Questrade. If your account name at Questrade differs from your bank account name for any reason, please contact Questrade to speak to a customer service agent before funding your account.
If you’re looking to transfer cash or investments between your accounts, you will need to log in to myQuestrade, and go to Account>Requests> and choose Transfer investments or Transfer funds. The processing time for internal transfers is 2-4 business days.
To learn more about ECN fees and how to avoid them, you can read our article here.
Level 1 and Level 2 refer to different detailed levels of market data available via subscription at Questrade. They can provide you with more information to help you make better informed trading decisions. To learn more about each level of market data and what they offer, check out the following links:
- Level 1 market data
- Level 2 market data
To add another child to an existing RESP family plan, the child must be related to the subscriber by blood or adoption, and he or she must be under 21 years old at the time the subscriber add him or her to the plan OR have been a beneficiary of another family RESP immediately before being added to this one. To add an additional RESP beneficiary, the following forms need to be completed and sent to Questrade. We can accept this form by mail, or upload through my.questrade. Note: There is no need to provide information about existing beneficiaries on the forms. Designation of additional beneficiaries form - https://media.questrade.com/downloads/accounts/NAAF026EN.pdf CESG Grant Form - https://www.canada.ca/content/dam/canada/employment-social-development/migration/documents/assets/portfolio/docs/en/student_loans/resp/forms/sde0093.pdf ANNEX A is required if they wish to add more than one beneficiary - https://www.canada.ca/content/dam/canada/employment-social-development/migration/documents/assets/portfolio/docs/en/student_loans/resp/forms/sde0093-a.pdf The purpose of an RESP account is to invest assets on behalf of a beneficiary who is expected to pursue post-secondary education. The funds can be used towards paying for tuition and other expenses related to pursuing a higher education or further development. In order to process a withdrawal, we will need the following information: 1. EAP Withdrawal form: You will need to either upload this form or mail it in. 2. Proof of enrollment in a post-secondary institution: You can upload a copy of the form to myQuestrade. Please note: proof of enrollment can’t be older than 3 months Proof of enrollment should include below and should be on school letterhead (official seal required): Fees
To learn more about the different grants available to you in your child’s RESP, you can read our article here.
How can I check what grants I have received?
To review the grants you have received in your RESP account, you just need to review the overall activity in your account. To view the account activity, log into your Questrade account, click Accounts>Reports>Account activity and then select the range you want to review to see all transactions on your account (including grants that have been added to your account).
How do I change the contribution amount between my beneficiaries?
By default, the contribution percentages will be evenly split between all beneficiaries. For various reasons, the subscriber of an RESP may decide to change the automatic allocation of contributions within the account. One of the main reasons is if one child is expected to enroll in post-secondary education before another. In this case, they may choose to allocate more funds to this beneficiary. To update the allocation weights, the subscriber needs to provide Questrade with a signed and dated letter of direction indicating that he would like to adjust the contribution weights. If the client selects "All future contributions" they must provide the form before the contribution is received here at Questrade. If they select "One time" we can adjust the allocations of contributions made within the same calendar year.
How do I add more beneficiaries to my account?
If you’re thinking of transferring an account from another financial institution to Questrade, you can learn about how to do that here.
How do I transfer money from another broker to an RESP account?
How do I take money out of an RESP?
- School’s name & address
- Program, start date and end date (ex. Sept 2020 - April 2024)
- Full or part time
- Full plan deregistration: $100 plus GST/HST
- Partial plan deregistration: $50 plus GST/HST
Eager to learn more? We’ve got you covered!
We have a regularly updated blog that covers helpful topics such as diversification, asset allocation, and whether it is better to invest or pay off your debts.
We also have a resource hub for retirement planning if that’s your goal.
Our YouTube Channel offers a host of helpful videos about our platforms and investing and we have official channels where you can reach us on Facebook, Twitter, and Reddit.
Got more questions? You can check into our resources for intermediate investors, read our blog, or research your questions in our Help and How-to section.
Account
First steps
Investing
Understanding your account balances
Investing
Risks of trading OTC securities
Investing
Pre and post market sessions