How to trade a stock or ETF with QuestradeOne of the first challenges that you must overcome when looking to index invest is finding a broker. A broker is a company that you will hold accounts with and use their software to actively trade. Here on mechmoney we highly encourage everyone to invest in a self directed account. (Take care of your own finances) As such, finding the best broker that fits your investing style is very important. After much research and before I traded an ETF using Questrade, I went through the process of opening my very first self directed investing account. Questrade for me was the best option to suit my style of trading. The style of course being index investing by purchasing ETF’s. The video below gives a great representation of how you can trade a stock or an ETF using Questrade. In addition opening up an account is covered also in the video.
I selected Questrade for the following reasons:
- Excellent for Canadian residents
- Exchange Traded Funds are commission free to buy (ECN fees still apply)
- Overall the lowest commissions I could find for purchasing ETF’s
- Desktop-based and web-based platforms – IQ Edge and IQ Web
- Easy to use and very feature rich
- No annual fees
You are able to purchase ETF’s for absolutely no commission, however, selling ETF’s do have a commission associated with the sale. ECN fees still apply which are listed on their other pricing page. Although it is possible to completely avoid ECN fees, it is not necessarily recommended.
The software that Questrade offers its users works very well. I absolutely enjoy working with both the web based application and the desktop application. Many stock traders will enjoy the desktop based application for technical trading with many different charts and analytical curves to draw on the screen.
Trading a stock or ETF with Questrade applications is very easy. After all the most difficult component of index investing is just getting started! What are you waiting for?