2017 Canadian discount brokerage review & 2018 preview

Questrade

Tell us about how 2017 went for Questrade:

By all metrics, 2017 was Questrade’s best year ever. We maintained our top spot as the fastest growing broker (as ranked by Investor Economics), and continued to invest aggressively in better serving our clients. Our rapid release schedule and emphasis on continuous improvement allowed us to achieve a number of significant milestones, including:

  • The launch of a completely new app, Questrade Mobile
  • The launch of a completely new FX trading platform, FX Global
  • Multiple enhancements to our web-based trading platform, including:
    • Support for trading multi-leg options (up to 4 legs, including 17 pre-built strategies)
    • New alert functionality allowing clients to better stay on top of their positions
    • Improved order entry functionality for more advanced order types, such as relative stop limit orders
  • We also invested heavily in our desktop trading platform, IQ Edge, in order to continue our strong offering for Canada’s active traders. Notably:
    • We released a version of IQ Edge for MacOS
    • Improved charting capability by adding numerous new studies, including fundamental data such as earnings and dividends to the charts
    • Added new order types
    • Added the ability to place order types by specifying the dollar amount you wish to invest (instead of having to manually calculate the number of shares)
    • Added asset allocation graphs of account holdings within the platform so clients can see their holdings across different sectors, groups, asset classes and currencies
    • Drag and drop functionality to make watch lists easier to manage.

What motivated the changes you implemented?

Questrade is focused on helping Canadians become much more financially successful and secure. We believe we can do this by providing the most innovative and cost efficient financial services online. The result we are striving for is nothing short of a revolution in the financial services choices currently available to Canadians.

What do you feel most proud and excited about?

At Questrade we’re excited about helping Canadians keep more of their money. And based on our strong growth this past year, we’re honoured that our message is resonating with Canadians and that they’re increasingly voting with their wallets by moving their accounts to Questrade. We’re excited about the opportunity to continue serving them in 2018 and beyond.

What will Questrade be focusing on for 2018?

Really, it will be more of the same. We have some big plans to exceed what was an outstanding 2017. We’ll do this by continuing to use technology expertise to enhance our product offering, and we’ll keep advocating for Canadians, reminding them to ask tough questions about the financial services status quo.

To learn more about Questrade, visit their website at www.Questrade.com or view our profile of Questrade here.

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