Photo ID

At Questrade we require you to upload a valid, government-issued photo ID as part of your new account application.

In addition, if you’re adding a second account, and your original ID on file has expired, we may require you to upload a new copy.

We require your photo ID as part of CIRO and FINTRAC’s regulatory requirements, and to ensure proper tax withholding rates. You can learn more about this from this CIRO brochure, or on the government website here.

ID Requirements

A government-issued photo ID document must be issued by either a federal or provincial/territorial government. We also accept foreign passports as another form of acceptable identification.

Note: Foreign driver's licence or other non-Canadian IDs will not be accepted unless they are reviewed and attested by an Authorized Agent located in the country where such ID was issued.

In addition, if you’re a non-Canadian resident with a foreign permanent address, there may be additional requirements. More information on this below.

Your photo ID must show the following:

• Your full name - Exact match to your Questrade profile
  • For short-forms/nicknames, please use your full legal name as it appears on your ID for your Questrade account
• Your date of birth - Must match your Questrade profile
• Photo
• Expiry date - Must not be expired
• Unique identifier number - Passport #, or Driver’s licence #
• The issuing authority (I.e. Province of Ontario)

Please see below for acceptable/unacceptable examples, and questions to common ID-related questions.

Examples of acceptable ID

Here are some common examples of acceptable photo IDs:

• Canadian driver’s licence
• BC or QC Health cards (Other health cards not accepted)
• Canadian passport with visible bearer signature on page 2
• Foreign passport with bearer signature (If included)
• Canadian PR cards
• Canadian federal firearms licence (Front and back)
• Provincial ID cards
• Certificate of Indian status cards (Front and back)
• Canadian armed forces/national defence ID card (Front and back)
• Nexus cards (Front and back)
• Transport Canada Aviation Document

Examples of unacceptable ID

Here are some common examples of unacceptable photo IDs:

• Foreign driver’s licence
• Canadian passport without bearer signature, or missing page 2
• Foreign ID or citizenship cards
• Ontario Health cards
• Canadian citizenship cards issued as a minor
• Student ID cards
• Workplace ID cards

How to upload a Photo ID

Follow these easy steps to upload your ID:

1. Log in to your Questrade account
   
2. If you’re uploading an ID as part of a new account application, please click the application from the ‘SUMMARY’ page.
   
3. In the Upload your documents section, click the blue upload button next to the requirement:
   
4. In the pop-up window, click the type of ID that you’d like to upload.
   
5. If you’re uploading a Canadian driver’s licence, or passport you will be shown a QR code to scan with your phone
   • Please open your phone’s camera app, and after scanning the QR code, you can click the link to upload.
   • Alternatively, you can upload your ID manually.
   

After you’ve scanned the QR code, simply click the green Take Picture button to automatically open your camera app.

Please take a clear picture of the Front of your ID first if using a Driver’s licence.

Please take a clear picture of the Photo and details page if using your Passport.

After this, you’ll be asked to provide:

A picture of the back of your licence, or a picture of the signature page of your passport.

If your upload fails for any reason (Blurry, low lighting, expired and etc..) you can try another upload with your phone, or simply manually upload your ID.

Congrats! You’ve finished uploading your ID to your new Questrade account.

Frequently asked questions

Why do I have to upload an ID?

This is a regulatory requirement for Questrade. As a member of the Canadian Investment Regulatory Organization (CIRO) we have a legal obligation to “know our client”. This includes asking questions during your application as well as verifying your ID and other documents when needed.

In addition to the above, as a financial institution in Canada we also have to follow the rules and regulations set out under the “Proceeds of Crime (Money Laundering) and Terrorist Financing Act” (PCMLTFA). This includes verifying your identity, and asking for a government-issued photo ID as part of your account application.

Do I have to upload an ID for an authorized trader or beneficiary?

For an authorized trader, yes. This is because they have full investment authority on your accounts and can make transactions on your behalf.

For a beneficiary, in most cases no. (Except for certain RESP and informal/formal Trust account beneficiaries) This is because for a non-custodial account, a beneficiary is someone who receives the assets in the account after the account holder passes. A beneficiary does not have trading/investment authority on the account, and therefore we don’t require their ID.

I’ve already uploaded an ID for one account, do I need to upload a second?

If you’re setting the accounts up at the same time, generally no. Our systems will automatically ‘accept’ your uploaded ID for all your new account applications that are in-progress.

If you’re adding a second (or third) account and already have an existing Questrade account set up, we recommend uploading a new copy as part of the application. If your ID on file has expired for example, or if it’s been more than 6 months since your original application, we cannot ‘re-use’ the ID that is already on file.

My photo is over the maximum file size, what are my options?

If your scan or photo of your ID is larger than 4mb, unfortunately our systems will not allow you to upload it. If you’re uploading from a mobile device, you will usually have the option to pick an image quality or resolution during the upload, please choose ‘medium or high’.

Alternatively, you can try ‘shrinking’ the file size through a free online service or software.

Non-residents and ID requirements

If you are a non-resident of Canada with a foreign permanent address on file, there may be additional requirements to open your account.

If you’re opening an account, and are able to provide both a valid, government-issued ID and a financial document from a Canadian financial institution, this will be sufficient to meet the ID requirements.

The ID must meet all the requirements outlined above, and the financial document must be an original statement:

• From a Canadian financial institution
• Dated within the last 3 months
• Match the customer name on your Questrade account exactly
• Cannot be an investment account
• Must have a visible account number, or other unique identifier

Acceptable examples:

• Chequing/Savings account with activity in the last 3 months
• Credit card statements with activity in the last 3 months
• Match the customer name on your Questrade account exactly
• Loan or mortgage statement with activity in the last 3 months

Once you are able to upload an acceptable financial document, and a valid ID, please contact our New Accounts team directly. You can reach them via email at newaccounts@questrade.com, chat, or at 1.888.783.7866. They can help ensure your documents meet all the requirements to help get you started.

If you do not have a Canadian financial document, in order to comply with additional regulatory requirements, we ask that you have your passport attested by one of our agency lawyers around the world. The local law office or notary will attest or verify your passport and supporting documents, and courier Questrade an official stamped copy.

Please note: Only official Questrade agents and agency representatives may attest IDs.

To request the contact information for your local attestation agency, please contact our New Accounts team directly. You can reach them via email at newaccounts@questrade.com, chat, or at 1.888.783.7866. We will find the closest geographic office(s) for you, and help get you in touch with the appropriate agent(s).

Please note: The agents/lawyers who perform ID attestations may charge a fee for this service. This fee is independent of Questrade, non-refundable and paid directly to the agent.

Margin accounts may be opened by most international residents apart from US residents due to SEC regulations.

Deposits/withdrawals are not limited in these account types like with registered accounts. These accounts are subject to additional approvals, and can take up to 1-2 weeks to be approved for trading.