Questrade Offer Code 2024: $50 Free Stock Trades

Signing up for Questrade through this Questrade Offer Code 50 which will give you $50 in free trades when you invest at least $1,000 in your account. You don’t even need to enter in a code.

On the other hand, if you prefer Questrade’s robo-advisor platform called Questwealth, Questrade will manage your initial $10,000 investment for free for a year with this link.

This post will discuss Questrade, its investment product offerings you can consider, its platform’s benefits, promotional offers, and whether it is worth your investment.

Questrade $50 Free Trades – How to Get It

To begin trading on Questrade and save on fees, sign up here and get $50 in free trades to get started on the right foot. You will have to fill in some information to sign up and avail the Questrade offer code entirely.

Afterwards, choose the type or types of accounts you want to invest in using the discount brokerage firm. The Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Account (TFSA) are two of the most popular account types that you can consider.

Once you select the account type, click on “Open now.”

The next step will be creating your user ID. Fill in all the details they require and complete the profile questionnaire. Make sure you read through the terms and conditions before you agree to them.

Once you agree to the terms, you will need to upload a government-issued ID.

With your account now open, you need to fund your account with at least $1,000 so that you can begin trading.

Questwealth $10,000 Managed Free 

For its part, Questwealth is a professionally managed investment portfolio service offered by Questrade for investors who prefer relying on the advice of experts when it comes to making investment decisions.

Questwealth has a team of financial experts who manage various portfolios that you can consider investing in. These portfolios offer different risk tolerance levels and corresponding returns on your investment.

If you open a Questwealth account through this Questrade Offer Code, you can enjoy the benefits of this service and have up to $10,000 of your Questwealth account managed for a year – completely free of charge.

If this amount seems beyond your budget, don’t worry. The actual minimum account balance you need to begin investing through Questwealth is $1,000, and there is no limit to how much you can invest. Just remember that the free management for a year applies only to those with $10,000 invested in a Questwealth portfolio.

Questrade $150 Transfer Fee Rebate

When you open an account with Questrade, you can transfer your investment accounts from other financial institutions to Questrade. Typically, you can expect transfer fees from the financial institution when you move your funds.

Questrade can save you a lot of money by rebating the transfer fees for up to $150 when you transfer funds to the discount broker.

You can easily claim this $150 rebate when you submit a statement from your previous investment provider showing how much you paid in transfer fees. You need to submit this statement within 60 days of initiating the transfer of funds to Questrade.

Questrade Refer A Friend Program

Your Questrade discounts do not end with the offer code you can get through Wealth Awesome. Once you become a client of the discount broker, you can get more cash bonuses by inviting your friends and family to sign up using your custom Questrade referral code.

For each friend or family member who opens an account with Questrade through your referral code, you will get a $25 deposit from the brokerage. There is even a $50 bonus for every third referral, meaning you can get lots of benefits when you invite more people to use the platform.

Depending on how much cash they deposit, the people you refer may also be entitled to receive a cash bonus:

  • $1,000 deposit: $25 bonus
  • $10,000: $50 bonus
  • $25,000: $75 bonus
  • $50,000: $100 bonus
  • $100,000 deposit: $250 bonus

If the people you refer deposit $100,000 within the first 90 days of becoming a Questrade client, they can benefit from the highest reward tier that this promotion offers.

With referral bonuses added to Questrade’s already low-cost offers, it is no surprise that this discount brokerage firm is the fastest-growing platform in Canada right now.

Questrade Trading Fees

Among the biggest selling points for Questrade is its low fee structure. The platform offers one of the lowest trading fees in Canada for self-directed investors to take advantage of. Questrade is also one of the rare discount brokers that offer no-commission ETF trading, making it even more cost-effective.

There are various trading fees that you can expect the platform to charge you, including the following:

  • Stocks cost a minimum of US$4.95, going up to $9.95 per trade;
  • ETF purchases are free when you buy, while costs go up to $9.95 per trade when you sell;
  • Options cost $9.95 and $1 for each contract;
  • Mutual funds cost $9.95 per trade;
  • Precious metals cost $19.95 per trade;
  • Foreign exchange spread per trade cost as low as 0.08 pips; and
  • International equities cost 1% of the trade value.

Besides these costs, Questrade also lets you purchase guaranteed investment certificates (GICs), bonds, and initial public offerings (IPOs) for free. However, you have to make a minimum purchase of $5,000 for them. Your account with the brokerage comes with a basic but free real-time market data package.

If you are an advanced trader with an excellent understanding of financial markets, you can access the enhanced-level packages of Levels 1 and 2 for an additional fee. You can learn more about the intricacies of Questrade in my full Questrade review here.

Is Questrade Safe and Legit?

Questrade has only become popular recently. Thus, many Canadian investors do not know that the discount brokerage firm has been in business since 1999.

A reputable firm, Questrade has been listed as one of Canada’s “Best Managed Companies” eight times over the years.

The company comes under the monitoring of the Investment Industry Regulatory Organization of Canada (IIROC). As a Canadian Investor Protection Fund (CIPF) member, Questrade has also effectively guaranteed that your funds with the broker are protected against insolvency for up to $1 million.

Additionally, Questrade offers $10 million more in private insurance to its clients. In case the brokerage ever goes bankrupt, you can rely on its coverage to keep your investment with Questrade protected.

Questrade also offers an Online Security Guarantee that entitles you to 100% reimbursement if any unauthorized transactions occur in your account.

Overall, therefore, Questrade is not just legit and safe. It is one of the best trading platforms available in Canada.

Why Questrade Is My Pick for the #1 Trading Platform in Canada

While there are several noteworthy platforms that you can use, Questrade is my top overall pick. This discount broker offers competitive fees, excellent customer support, a wide range of research tools, and trading platforms suitable for every type of investor.

I have been using Questrade for almost a decade now, and my experience has been nothing but fantastic. The reports are simple enough to understand, and they help me make more well-informed trading decisions. The free ETF purchases also make it an excellent platform to consider.

Questrade’s dividend reinvestment plan (DRIP) is easy to set up and automatically reinvests all my dividends. Thus, I can easily unlock the power of compounding to accelerate my wealth growth by investing through Questrade.

I made this helpful and informative video to give you a better idea about the best trading platforms in Canada.

You can also check out my detailed list and overview for each of the best trading platforms in Canada here.

Questrade Offer Code FAQ

In case you have any questions regarding Questrade that I haven’t addressed, here are answers to some of the most frequently asked questions that people have regarding Questrade’s offers:

How do I find my Questrade referral code?

There is a “Refer a friend” option available under the Account Management menu. You can generate a QPass Key (i.e., referral code) there and share it with your friends and family so they can join the platform.

What is the minimum balance required to open an account with Questrade?

There is no minimum balance required to open an account with Questrade. However, you can only begin trading if you have at least $1,000 in your account.

Is there any method to avoid the inactivity fees charged by Questrade?

The good news is, that Questrade no longer charges inactivity fees for any of its accounts! So you don’t have to worry about that anymore.

You also do not need to pay any trading commissions when you purchase ETFs through Questrade. But there is a $4.95 to $9.95 fee for each transaction when you are selling your ETFs. All the stock trades will incur a commission.

Is Questrade a good platform for me if I’m a beginner?

Questrade is an excellent trading platform for beginners and advanced investors alike. It offers one of the lowest fees in the industry, gives you exposure to a range of investment products, and has an easy-to-navigate interface. It is an excellent platform for beginners.

All in all

Questrade is one of the best discount brokers in Canada. With its low-cost structure, variety of tools for research, plenty of offers, and superb overall experience, you might be interested in opening an account as well.

Sign up today for Questrade and get $50 in free trades to start your journey towards financial security.

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Author Bio - Christopher Liew is a CFA Charterholder with 11 years of finance experience and the creator of Read about how he quit his 6-figure salary career to travel the world here.

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