Know when to use a different Questrade platform

You have started your investing journey and are now getting more comfortable with it. That’s awesome! But what if you decide to diversify your portfolio by trading different investment products? Or to try using advanced tools in your trading strategy? Whether you want to take your strategy to the next level or try something new, we have the right platform for you.

Knowing when to use a different Questrade platform typically consists of three criteria to consider.

The first starts with understanding the investment products you want to invest in, such as stocks, ETFs or bonds. This is important because everyone will have a preferred investment instrument they may want to invest in and these investments may have to be traded on a specific Questrade platform.

Second is knowing your comfort level with trading tools. This boils down to how you want to place orders, whether using basic order types and durations (including market and limit orders) or advanced order types and durations (stop orders, bracket orders, trailing stop orders, etc.).

Third is the preferred accessibility to your platform. You can invest using mobile, desktop application, web, or a combination of these three, depending on your preference.

Let’s cover the common questions below to help you decide on when to use another platform.

If you’re going to trade stocks, ETFs, options, or mutual funds, you can use QuestMobile, Questrade Trading, and Questrade Edge platforms (Questrade Edge Web or Questrade Edge Desktop).

If you’re going to trade stocks, ETFs, options, or mutual funds, you can use QuestMobile, Questrade Trading, and Questrade Edge platforms (Questrade Edge Web or Questrade Edge Desktop).

How you pick between these platforms depends on your comfort level with trading tools. If you prefer placing simple orders, such as limit and market orders, you can use QuestMobile or Questrade Trading. These two platforms are typically for investors who want simplicity and ease of use.

Questrade Trading is a web application that you can access via your web browser.

In contrast, if you’re placing complex orders, such as stop-limit and trailing stop orders, you can either use Questrade Edge Web or Questrade Edge Desktop. One key difference between Questrade Edge Desktop and Questrade Edge Web is that Questrade Edge Desktop provides more options for customizing multiple screens and widgets. This customization allows active traders to buy and sort through stocks, ETFs, and options faster.

Questrade Edge Desktop is a downloadable application and is available to install on Mac and Windows operating systems. 

Please note: You can only purchase mutual funds through Questrade Edge platforms. If you’re currently using Questrade Trading, you can add Questrade Edge platforms to your dashboard to start trading mutual funds.

You can use Questrade Global to start trading Foreign Exchange and Contracts for Difference (FX and CFDs) on both mobile and web platforms. 

Both web and mobile Questrade Global platforms allow you to trade currencies and commodities on 15+ international exchanges. In addition, Questrade Global is equipped with real-time market data, charting with annotations, and customizable alerts. To start trading, you’ll need to open an FX and CFD account.

Opening an FX and CFD account is free, but please be sure to check out their fees. To learn more about the fundamentals of FX and CFDs and how to trade them, please take a look at this helpful article.

Please note: We strongly recommend opening and using a practice account to learn more about the advantages and disadvantages of FX trading before using your own money in a live account.

If you’re thinking of adding gold and precious metals to your portfolio, you can do so by buying directly through our Trade Desk at 1.866.980.9590 between 8 am and 3:00 pm ET. Once you purchase gold or precious metals, you can see your positions in your account on Questrade Edge platforms.

You can purchase fixed-income investments such as bonds and GICs by placing an order through Questrade Edge Web and Questrade Trading. To learn more about how to place a bond or GIC order through our web platforms, check out this helpful article.

Important to know:

1. You can only trade GICs and bonds during trading hours. During after-hours or holidays, you’re only able to browse bonds/GICs.
• GICs are available for purchase from 9 am ET - 1 pm ET.
• Bonds are available for purchase from 9:30 am ET - 3:30 pm ET.
• Bonds and GICs are available Monday to Friday, excluding trading holidays.
2. To redeem a cashable GIC or place a sell order on a bond, call the trade desk at 1-866-980-9590 Monday to Friday, 9 am to 3:30 pm ET.
3. Bond and GIC rates/prices are updated every day before the market opens. Bond prices are updated at 9:30 am ET and GIC rates are updated at 9 am ET.
4. You can only see pending bond/GIC orders placed online. Orders placed directly through the trade desk will not be reflected until the following day in the online platform(s).

Questwealth Portfolios are diversified low-fee ETF portfolios designed to help you achieve your financial goals faster. This can be a great option where your portfolio is actively managed by portfolio managers who watch the market and adjust your portfolio when needed. Using research, portfolio managers aim to limit losses and are always looking for opportunities to improve your returns.

When opening an account, you’ll be asked a few questions about your financial status, risk tolerance and investment goals. At the end of the questionnaire, you can select the type of account that you’d like to be a  Questwealth portfolio (such as a TFSA or RRSP). You'll then be matched with a portfolio best suited for you, and you’ll be all set.

You can open a Questwealth portfolio through the Questrade Edge platforms, QuestMobile or through your Questrade portal.

If you don’t have a Questrade account yet, you can always get started with a Questwealth portfolio by opening an account here.

As you continue your investing journey with Questrade, it’s important to recognize the power of using different platforms based on your needs and preferences. By understanding the three criteria for platform selection - investment products, comfort level with trading tools, and preferred accessibility - you can optimize your trading experience and make the most of your investment opportunities.

Remember, your investing journey is unique, and having access to the right platform for your goals can make a significant difference in your financial success. Take hold of your future and explore your options today.

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.