Opening an account

Before you get started

Here’s what you’ll need before starting your application.

• Government-issued photo ID
• Your Social Insurance Number (SIN)

At this time, you can open the following accounts through the QuestMobile app:

• Tax-Free Savings Account (TFSA) (self-directed or Questwealth Portfolios)
• First Home Savings Account (FHSA) (self-directed or Questwealth Portfolios)
• Registered Retirement Savings Plan (RRSP) (self-directed or Questwealth Portfolios)
• Margin Account (self-directed) / Cash Account (Questwealth Portfolios)

Creating your Profile Pt. 1

Please follow these steps to complete the first part of your account application. Once you finish these four steps, your progress will be saved, and you can come back to finish your application at any time.

1. Enter your full legal name as it appears on your ID
2. Next, enter your email address and your phone number
3. Please agree to receive personalized communications from us
4. Create a unique username and password

On the next page, you will have the option to enter an offer code. To learn more about these, you can read more here.

Account set-up

After you complete the steps above, you’ll be asked to choose between self-directed investing (do your own trading/investing) or Questwealth Portfolios (a pre-built portfolio that’s managed for you), as well as which account type (TFSA, RRSP, etc.) you’re opening. We will outline the account opening process for both below, starting with self-directed accounts. To jump to the Questwealth Portfolios section, you can click here.  (button to jump to questwealth)

The following account types are available through the Questmobile app. For any other account type,  please continue your application with a mobile web browser, or a laptop/desktop computer.

• Tax-Free Savings Account (TFSA)
• First Home Savings Account (FHSA)
• Registered Retirement Savings Plan (RRSP)
• Margin Account

The opening process will differ depending on if you are opening a self-directed account or a Questwealth portfolio.

 Creating your Profile Pt. 2

Next, you’ll be asked to enter and confirm some personal information for your Profile that is required by our regulators.

First, please verify your email address and phone number, then confirm if any of the statements shown apply to you (I.e. reporting insider, born in the U.S.).

1. Enter your date of birth
2. Confirm your marital status
   • If you’re married, you may need to add some basic information about your spouse to your account

3. Add your residential address

4. Confirm your Canadian tax residency status

5. Enter your Social Insurance Number (SIN)

   • This is required by our regulators, and can be used to confirm your identity when opening your account

   • Tip: If you select Yes to confirm your identity via SIN, this can help reduce the amount of documents required when opening your new account. Your credit score is not affected by this identity verification.

6. Confirm your employment status & the details of your employer

   • Please note: We will not contact your employer, this is required for regulatory reasons

7. Confirm your job title, or income source (If you’re a student/retired)
   

   • Tip: If you can’t find an exact match to your job title, pick the closest one
     

8. Confirm your annual income
   

9. Enter your approximate liquid and fixed assets
   

10. Confirm your approximate liabilities
    
    

After this last step, your progress is saved and, if needed, you can pick up where you left off at a later time from any device.

Account set-up Pt. 2

Next, answer some quick questions about your new account:

1. Select what you’re using the account for, such as retirement, investing, etc.
2. Choose which security holder materials you’d like to receive (i.e. shareholder voting forms, etc.)
   • Select which language you’d like these in
   • Choose if you’d like to share your personal details with the issuers of the securities you invest in directly

3. Read the three communications agreements before moving onto the next page

4. Choose if you’d like a reminder to add a person with a financial interest to your account

   • For example: an authorized trader, or beneficiary

   
   

Next, you’ll be asked to read and accept the different customer agreements for your accounts. Please scroll down through the agreements and tap the green I accept button once you’re done.

There may be multiple agreements required depending on the type of account you’re opening.

Once your agreements are saved, we’ll create your Account number, and save your progress again.

Submitting your documents

After the agreements, there’s a few documents left to E-sign, and you may also be required to submit a copy of your photo ID.

1. Please tap the green E-sign button, then read and accept the agreements in the pop-up window
2. If we require a copy of your ID, you’ll be directed to choose what type of ID you’ll upload
   • For more information about the forms of acceptable ID, please see this article about photo ID
   • You can either take a new photo, or choose an image from your device’s photo library

3. After submitting your ID, you may also be asked to upload additional documents depending on the account type you’ve selected

   • If you need to submit an address or financial document, you’ll need to log in with a web browser on your phone, or through a laptop/desktop computer to finalize this last step

   
   

Congrats, you’ve finished submitting all your documents, and you’re almost finished with your account application!

Final steps

Lastly, to get started with trading and investing, you’ll need to add some funds to your new account.

The quickest and easiest way to fund your account is through Instant deposit, but other funding methods are also available.

Creating your Profile Pt. 2

Next, you’ll be asked to enter and confirm some personal information for your Profile that is required by our regulators.

First, please verify your email address and phone number, then confirm if any of the statements shown apply to you (I.e. reporting insider, born in the U.S.).

1. Enter your date of birth
2. Confirm your marital status
   • If you’re married, you may need to add some basic information about your spouse to your account

3. Add your residential address

4. Confirm your tax residency status

5. Enter your Social Insurance Number (SIN)

   • This is required by our regulators, and can be used to confirm your identity when opening your account

   • Tip: If you select Yes to confirm your identity via SIN, this can help reduce the amount of documents required when opening your new account. Your credit score is not affected by this identity verification.

6. Confirm your employment status & the details of your employer

   • Please note: We will not contact your employer, this is required for regulatory reasons

7. Confirm your job title, or income source (If you’re a student/retired)
   

   • Tip: If you can’t find an exact match to your job title, pick the closest one
     

Portfolio questionnaire

In this stage you can outline what you are looking to get from your Questwealth Portfolio to determine a suitable portfolio for you based on your responses.

1. Confirm if you have any dependants
2. Enter the age you hope to retire at
3. Confirm your approximate annual income
4. Enter the approximate value of your assets and liabilities
5. Select what you plan to use this investment portfolio for
6. Select whether you have invested in the past or not
7. Choose what returns you are seeking as your investment objective
8. Select how long you plan to invest for
9. Choose the option that best describes your investment knowledge
10. Select how you would feel if your portfolio’s value decreased by 10% in a few weeks
11. Select which investment growth or decline scenarios you are most comfortable with
12. Choose the type of portfolio you would like to have
13. Review the recommended portfolio and select “next”

After this last step, your progress is saved and, if needed, you can pick up where you left off at a later time from any device.

Risk tolerance questionnaire

The risk tolerance questionnaire allows you to review their QWP portfolio's risk tolerance - right on the app. Whether it's for an annual review or it's for a change of risk appetite, you can retake the portfolio questionnaire right on your phone and be reassigned a new portfolio if changes are needed to match your new risk profile.

1. Tap Review portfolio, then continue on the next page to retake the questionnaire.

2. After completing the risk questionnaire again, you can review and confirm your updated QWP portfolio.

Account set-up Pt. 2

Next, answer some quick questions about your new account:

1. Select what you’re using the account for
2. Choose if you’d like a reminder to add a person with a financial interest to your account
   • For example: an authorized trader, or beneficiary
     
   
   

Next, you’ll be asked to read and accept the different customer agreements for your accounts. Please scroll down through the agreements and tap the green I accept button once you’re done.

There may be multiple agreements required depending on the type of account you’re opening.

Once your agreements are saved, we’ll create your Account number, and save your progress again.

Submitting your documents

After the agreements, there’s a few documents left to E-sign, and you may also be required to submit a copy of your photo ID.

1. Please review and e-sign the documents outlined
2. If we require a copy of your ID, you’ll be directed to choose what type of ID you'll upload
   • For more information about the forms of acceptable ID, please see this article about photo ID
   • You can either take a new photo, or choose an image from your device’s photo library

3. After submitting your ID, you may also be asked to upload additional documents depending on the account type you’ve selected

   • If you need to submit an address or financial document, you’ll need to log in with a web browser on your phone, or through a laptop/desktop computer to finalize this last step

     
     

Congrats, you’ve finished submitting all your documents, and you’re almost finished with your account application!

Final steps

Lastly, to get started with trading and investing, you’ll need to add some funds to your new account.

The quickest and easiest way to fund your account is through Instant deposit, but other funding methods are also available.

Note: The information in this blog is for information purposes only and should not be used or construed as financial, investment, or tax advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied is made by Questrade, Inc., its affiliates or any other person to its accuracy.