Please click the links below to view the descriptions.
Individual:
A personal investment account registered under one name.
Individual:
A personal investment account registered under one name.
Joint:
A brokerage account owned by two or three account holders. If you want an account
with four or more holders, select investment club account or partnership account.
Informal Trust:
An account in the name of the account holder but held for the benefit of another
person, usually a minor. A trust agreement is not required.
TFSA (tax free savings account):
A tax free savings account is a registered savings account that allows Canadian
residents 18 years of age or older to earn tax-free investment income. Contributions
are not tax deductible, and withdrawals are not taxable. However, the income generated
in the account (for example, investment income and capital gains) is tax-free. As
of 2009, the annual contribution limit is $5,000. Questrade tax-free savings account
holders can trade anything available for trading in an RSP including stocks, gold,
bonds, mutual funds, etc.
RRSP(registered retirement savings plan):
A tax-deferral retirement plan that is subject to rules established by the federal
government. The holder of an RRSP invests money in a variety of investment vehicles,
which are held in trust under the plan. Income tax is deferred until the money (the
amount originally deposited plus any interest, capital gains or dividends) is withdrawn
at retirement. RRSPs can be converted to retirement income funds (RIF).
Locked-in RRSP:
A locked-in retirement plan established by the transfer of locked-in funds from
a RPP, another LRSP, LIRA, LIF (Life Income Fund) or LRIF (Locked-in Retirement
Income Fund).
LIRA:
An employer-created registered pension plan (RPP) to provide a pension when an employee
retires or is terminated. Fully-vested RPP proceeds are considered locked-in, and
can only be transferred into certain locked-in plans including RSP pre-retirement
plans (LIRA or LRSP) or RIF plans (LIF, LRIF and life annuities).
RIF & PRIF (retirement income fund):
A continuation of an RRSP providing similar tax deferral of principal and income
earned except contributions are no longer permitted. Instead, the CRA dictates that
a minimum amount must be withdrawn annually. Retirement income payments are taxed
each year as received, thus spreading the taxation over your retirement. As with
RRSPs, such plans are available to individuals and spouses. A PRIF is identical
to a RIF except it is only available to those with funds governed under Manitoba
or Saskatchewan pension legislation.
Locked-in RIF: Similar to a RRIF; however funds are locked-in permanently
to ensure lifetime income. The plan enables the holder to make lifetime investment
decisions while providing some flexibility in determining an income schedule. A
RIF that has been created from a locked-in RRSP.
LIF(live income fund):
Established by the transfer of locked-in funds from a RPP, LRSP, LIRA and in some
instances a LRIF. It is similar to a RIF in that it provides a flexible payout option
for RRSP or RRIF holders.
RIF:
Identical to a RIF, except it is only available to those with funds governed under
Manitoba or Saskatchewan pension legislation that are seeking a choice of investments
and income.
Individual RESP (registered education savings plan):
A government-approved, tax-sheltered savings plan for a single beneficiary. The
contributions to an RESP are not tax-deductable, however tax on the income earned
on investments within the plan is deferred until the intended beneficiary withdraws
the funds.
Family RESP (registered education savings plan):
A family RESP can have one or more beneficiaries; however each beneficiary must
be related by blood or adoption to each living subscriber or have been related to
a deceased original subscriber.
Corporation:
An account registered in the name of a corporation with at least one person having
full trading authorization. A corporation is a legal entity that is separate and
distinct from its owners. Corporations enjoy most of the rights and responsibilities
that an individual possesses; that is, a corporation has the right to enter into
contracts, loan and borrow money, sue and be sued, hire employees, own assets and
pay taxes.
Investment Club:
A group of people who pool their money to make investments. Usually investment clubs
are organized as partnerships and after the members study different investments,
the group decides to buy or sell based on a majority vote of the members.
Formal trust:
A legal entity established under a trust agreement containing assets administered
by a trustee for the benefit of another person or persons. A formal trust must have
a trustee and at least one beneficiary.
Partnership:
An association of two or more persons to carry on, as co-owners, a business for
profit. There is a proportionate sharing of the profits or losses between the partners.
Sole proprietorship
A business organization that is unincorporated and has only one owner.
PC computer
The account application was designed for PC computers only.
Internet Explorer and Firefox
Internet Explorer (version 6.0 or higher, Javascript enabled) or Mozilla Firefox
(version 1.5 or higher, Javascript enabled) is recommended.
Adobe Acrobat Reader
Acrobat Reader is required to view your paperwork. Please ensure that you also have
access to a printer so you can print, complete and sign all required forms.
Valid email address
Please enter an email address on the first screen of the application. Note: we will
use this address for all email notices regarding your account, platform(s), service
upgrades.
Adobe flash player
Adobe flash player 7 or higher required.
Online banking is one of the most popular and fastest ways to fund a Questrade account.
All major chartered banks and credit unions offer it as an online bill payment tool,
which can be set up as one-time or recurring, and can be post-dated.
We've made it easy to move to Questrade. After you've opened an account, fill out the one-page transfer form, and we'll take care of the rest. Most clients will be able to transfer their holdings in-kind, meaning you retain ownership of your investments and any credit or debit in cash/positions will automatically be forwarded to your Questrade account.
You can monitor the status of your transfer in myQuestrade. Select the My Funds tab and click Fund Your Account, then click Transfer from Broker and Transfer Status.
In order to start trading, you will need to fund your account. Accounts must be
fully funded before trades can be placed.
Compare 7 ways to fund an account »
Minimum initial funding
Stocks & Options Accounts:
• $1,000 to purchase stocks and options
• $5,000 to trade option spreads and straddles.
• $25,000 to write/sell uncovered options.
To keep your account in good standing, $250 equity or account value is required.
Forex Accounts:
• USD $1,000 for a forex account.
CAD deposits to forex accounts are accepted and will be automatically converted to USD upon receipt.
As soon as step 2 is complete, you will get your pass code for myQuestrade, our
client portal. Once your account has been funded and approved, you will get a trading
ID and password for the platform of your choice. For security reasons, we highly
recommend you assign a new password to your account(s) during your first login.
Please read Questrade's policies on security and privacy for information on selecting
a strong password. Remember, you can check the status of your account at any time
by logging in to myQuestrade.
Questrade client services are available Monday to Friday from 7:30 a.m. to 10
p.m. EST. For the fastest support in English, French, Mandarin and Cantonese, use
our online live help tool. The average wait time to chat with a client services
specialist is 30 to 40 seconds. Phone and email support are also available.