Questrade Global Trading Platform Questrade - Forex & CFDs

Question about Questrade account types

Sorry if this is a stupid question as I'm still relatively new to investing. I'm using Wealthsimple for my TSX/Canadian stocks, and am in the process of joining Questrade for my U.S/International stocks. I have a question though regarding signing up - It asks to choose "Margin", "TFSA", "RSP", or "Forex". Do you have any recommendation on which one to choose? For Wealthsimple, I have a Personal and TFSA already. I already have an RSP at another bank, and 2 TFSAs. So not sure if there's a risk with signing up for another one? Also is 'Margin' similar to WS's "Personal" account?
submitted by thaman05 to PersonalFinanceCanada [link] [comments]

What type of account for general trading.

Hey guys, I know you cannot trade daily in a TFSA. What type of account should I be using? I see robinhood has a 'cash' account but i dont see one on questrade. Only registered accounts, margin, and forex. What is everyone using? I dont want to trade over and over again all day but im looking to do 3-4 trades per week or every other week.
submitted by asticx to Questrade [link] [comments]

Opening a non registered account?

Quick Q...I have a TFSA w 41K invested in ETF's at Questrade and an RRSP account w TD in E Series funds. I now want to open a non registered (taxable account). From what I understand, I can't do this at either Questrade or my regular TD account....I would have to open another account....does it matter where, any advantages to being with TD Direct Investing vs RBC vs Scotia, vs somewhere else, etc...this is sort of a pain cause now I have to have yet another account open.
If I go w TD Direct Investing, I guess I could transfer over my E Series funds to them? I have 15K contributed right now and am looking to put in 9 K into a taxable account.
Is there one place that has lower fees than another for opening a non registered acct?
submitted by llama123456789 to PersonalFinanceCanada [link] [comments]

Questrade fx question

I want to buy usd so that i can buy us stocks. fx is obviously the best rate, does anyone know if questrade would allow me to buy usd in fx and then transfer it to my margin account?
E: I called them and this is what I learned. So I just called them. When you have a CAD balance on a margin account and buy US securities, you borrow their USD, and you get charged 6.25% interest. Currency conversion from CAD to USD is 1.99% if you convert more than 10k you can negotiate that, but I haven't been told by how much. I was thinking of funding my forex account and converting cash there but it turns out that to convert cash there costs the same rate. But if you are just trading and not converting cash you can buy USD with a spread of 2-2.5pips, and you cannot transfer that USD to your margin account. So I'm going to have to find another means of converting my CAD to USD.
submitted by RUS_Hustler to investing [link] [comments]

Question about interest

Hello. I just signed up for a self-directed margin account on Questrade and I am looking to trade in Forex. I just had a few questions about how margins work and how interest is accumulated on my account.
So, my account uses CAD so if I open a position in, say, EUUSD, am I borrowing Euros? Or does it convert my cash that I used into Euros for me?
Is the interest the same as the margin requirement?
How often do I have to pay interest and when does it accrue, if ever?
If i have any other questions, I'll add an edit. Thank you for your help!
submitted by eman201 to Questrade [link] [comments]

Margin, Forex

Hey Questrade,
so, I've been with you a while now, and generally I am a big fan, recommend you to people, etc. I have two negatives though:
  1. Why is your cost of margin so high vs, say, Interactive Brokers?
  2. Considering Norbert's Gambit, why is the spread on converting CAD to USD so bad? At 0.5% I'd just pay it to save the hassle, but 2% is 'big bank bad' - loads of forex cos out there do much better.
I guess it's fine to say 'we are a business, we have to make money somewhere, and this is how'.
Cheers!
submitted by investtherestpls to Questrade [link] [comments]

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