Is Qtrade safe and legit stock broker in Canada?

Last Updated: 21-Nov-2022

Short Answer

Wondering, if Qtrade is safe and legit stock broker in Canada? Know details on the leading Canadian online trading platform and see how it adds up to the security layers and keeps customers satisfied.

Detailed Answer

It is a fact that we can not directly trade on exchanges, so we have to choose a broker whom we can trust, who is regulated by trusted bodies so that our money and assets are safe.

Is Qtrade safe and legit stock broker in Canada?

We have presented all the points which you need to know to assure whether Qtrade is safe and legit or not:

1. Regulated by IIROC

Investment Industry Regulatory Organisation of Canada is a non-profit, regulatory organisation that offers investors a high amount of protection as it takes care of all the trading activities and investment dealers in Canada.

2. Member of CIPF

Being a member of Canadian Investor Protection Fund and because of strong regulation, greater investor protection is ensured. So, even if Qtrade goes bankrupt, you are safe. Also, the GIC are insured for up to $100,000 per issue.

3. Solid Financial Backing

Qtrade’ s parent companies are Desjardins Group and Aviso Wealth, thus providing Qtrade a sound financial background.

4. Protected by Credential Qtrade Securities Inc

Restating the 2nd point, Qtrade provides you protection as all the customers are covered by Credential Qtrade Securities Inc. which is a member of CIPF, so you are eligible for upto 1 million CAD coverage.

5. Long Track as Broker

As Qtrade was established in 2000, and it has a track record of 20 years which also builds trust in the company.

6. Broker only supports browser with 256-bit encryption

Qtrade Investor keeps your financial transactions and information safe and secure, only supports browsers that use 256-bit encryption. So, if you want to use beta versions of those browsers, Qtrade does not even recommend that.

7. Digital certificates issued by trusted 3rd parties

Qtrade lets you know that their site is secure by using digital certificates issued by trusted 3rd parties. This ensures both transparency as well as security.

8. Poweful Firewalls:

Qtrade uses powerful firewalls to protect the information of your accounts. When powerful firewalls are used, it does not let intruders enter into your machine and steal or damage the data.

9. Awareness spread by the brand

The broker also spread awareness for the security and safety of clients. Clients are asked to change passwords on regular intervals, sign out from other machines, use antivirus software.

10. Automatic sign up for updates

The broker requests clients to sign-up for automatic updates so that they are ensured about the safety and security through latest and regular interval updates.

From the above points, you can easily make out that Qtrade is safe and legit stock broker and online trading platform in Canada.

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