Is Questrade good for beginners?

Short Answer

Yes, Questrade provides an easy-to-use platform and gives access to many features that's easy to understand and perform, making it a good platform for new as well as seasoned investors. The platform contains an array of features that is suitable for beginners such as a simple interface, virtual trading facility, etc.

Detailed Answer

What is Questrade?

Questrade is a Canadian online stockbroker which is also a Do-it-yourself (DIY) platform that lets you build and design your own portfolio. Questrade offers numerous accounts for an individual as well as entities at a low cost which allows you to pay fewer commissions and enjoy most of your money.

Is Questrade good for beginners?

Yes, Questrade is good for new investors as well as seasoned investors as the platform is extremely versatile in terms of the features that it provides. Some of the features that make it ideal for beginners are:

1. Low cost

The platform provides all the facilities to you but at a very nominal rate. Beginner investors as well and traders won’t be burdened with the commissions as some of the other brokers out there. The platforms are equally capable of passive investing as Investing in ETFs is completely free. Apart from this, there are no annual fees or Maintenance fees as compared to other brokers It also lets you invest in IPOs (Initial Public Offerings) for free, with a minimum amount of $5000.

2. Easy to use

Questrade is a DIY (Do-it-yourself) platform that provides you the flexibility to design and develop your portfolio as you want. It also provides a Virtual practice account for new investors who are not willing to put real money at stake. You receive a total of $500k CAD to start with. Implementing this you can trade, invest and learn new techniques without losing any real money. If you need some help with your investments Questrade also provides professionally managed portfolios. Here the fee is relatively higher but you get professional rebalancing and structuring of your portfolio.

3. Easily accessible

You can access and use Questrade from multiple devices, like a P.C, mobile phone, tablet, etc. Questrade provides an intensive mobile application using which you can track your investments as well as take few trades, while you are on the go. There are also many advanced trading platforms like ‘Questrade IQ Edge’ and ‘Questrade Global’, using which you can trade Currencies, commodities, and global stocks listed on more than 15 international exchanges.

With the following features and tools, it is easy to say that Questrade is a good choice for beginner investors and traders. It provides all the features to cater to investors on both ends of the spectrum, newbies as well as veterans.

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