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Questrade 30 free trades in 30 days

7208 Views 8 Replies 4 Participants Last post by  Berubeland
Questrade is offering new clients 30 free trades in 30 days. To be eligible, you must open a new Questrade account with a minimum of CAD $1,000 by 11:59 p.m. EST July 31st, 2009, and fully fund the account by August 14th, 2009. New accounts by existing or former clients do not qualify.

How to qualify: Open a new Questrade account with CAD $1,000 by 11:59 p.m. EST July 31st, 2009. The account must be fully funded (minimum $1000) by August 14th, 2009. You are also eligible if you transfer an account from another broker. The transfer must be initiated by July 31st, 2009 to be eligible.

When your account is fully funded, it is considered an active account. The 30 free trades must be used within 30 days of account activation. Any trades after 30 days do not qualify. Qualifying clients will be charged commissions for trades and rebated the full amount within 60 days of account activation. This offer applies to equity trades only and does not apply to option orders. Minimum account funding is CAD $1000.

General: Participants must be permanent residents of Canada, and must be the age of majority in their province of residence. This contest is subject to all applicable federal, provincial, and municipal laws and regulations and is not available for residents of Quebec or Questrade employees. Foreign currency trading accounts (forex) are not eligible. Other trade fees including exchange and ECN fees may apply. Amounts quoted are in CAD. This offer is not available in conjunction with any other Questrade offer – except FREE TO TRANSFER, please see below.


Questrade will pay your transfer-out fees up to CAD $150 when you move a minimum of CAD $25,000 to Questrade from another brokerage. Payment of the transfer-out fee is capped at $150 and is limited to one account per client. Accounts transferred must remain open with Questrade for a minimum of three months in order to be eligible for the account transfer rebate.
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Maybe this is a good chance to make some small buys of companies that offer DRIPs?

I'm a total newb having not ever purchased a stock (aside from what's in a mutual fund). I've read horrors about this broker on CC's blog. Maybe the free aspect will entice me even though it's only for 30 days.

How is questrade for issuing certificates in the investor's name?

I understand that it's normally required to have at least one share in your own name to quality for a DRIP.
Looks like it's expensive to have questrade put a share in my name. From their pricing page, it looks like $300. Perhaps I just don't get it. Time to ask silly question in other thread...
I did take Questrade up on their offer, but I didn't choose any companies to DRIP.

Instead, I just made 3 small buy trades and in so doing learned a bit about the process. I learned:
- about the difference between a market and limit order. (I doubt I'll ever use a market order as it somewhat goes against my sensibilities to not specify the max price I'm willing to pay or min price I'm willing to sell).

- that an order can be put in after hours and it just goes into queue for the next day.

- that an order can be modified and even canceled when it's been accepted by the system so long as it's not been executed.

-that if you put the limit price at the ask price then the order can get executed bloody fast (better be sure always but especially with this).

The three trades I made in order of size and time were XSU (ETF tracking Russell 2000 index). This was perhaps the only sensible trade. a Handful of CP also with the aim of getting the certificates to give to my husband who loves trains and the CP. (must by guy thing). And third, FSH because they have their operations in my region and nearby town of which I have history and they do a good service in my opinion. (solid barrier fish farming in which the waste is collected for fertilizer instead of polluting the ocean as is done with other operations).

Enough now...
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My guess about market orders is that they're good if your main objective is simply getting the deal done. Still... :confused:

On the 3 trades (buys) I did under this offer I was reimbursed $14.90 on Sept 30. A bit of a lag, but Questrade made good on their offer. Not a lot of money, but $14.90 is $14.90 :)
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