» Questrade Review & $50 Bonus Offer Code [2012 Updated]

For two consecutive years, Questrade was chosen by the Investor Economic's Retail Brokerage Report as the number one online brokerage firm in terms of asset growth and trade volumes. The past two years have been quite busy for Questrade, with new clients coming in and old clients opening new accounts to consolidate their portfolios. There were also several transfers made by clients who moved to Questrade from other brokerages due to the low trade fees and friendly customer support that it offers.

Read another Questrade review (Or use the Questrade promo code QUESTRADER to get $50 when you open an account now!)

Easy Account Set Up

Creating an account with Questrade is easy, and you can easily fund your account by transferring money from your bank account via an online "bill payment". You can easily be guided in the account opening process by their LiveChat, which is open until 10p.m. Eastern time. All you need is a minimum of $250 in your account to keep it active.

Low Trade Fees

Questrade's low trade fees is hard to beat. They have a two price structure options: $0.01 per share ($4.95 minimum) or a $9.95 flat fee for unlimited shares. They don't charge to extra fees, such as a yearly maintenance fee or an inactivity fee, like other brokerages do.

The Only No Fee USD RSP Trader in Canada

For traders in Canada, Questrade offers the opportunity to retain US dollars in their accounts, allowing them to trade US securities without having to pay for currency exchange fees. This offers them a lot of savings, especially those who are using their RRSP (Registered Retirement Savings Plan) to trade in US Dollars. In fact, Questrade is the only no-fee US Dollar RSP Trader in Canada, which allows clients to choose their asset mix, including mutual funds, gold currency exchange.

Excellent Customer Service

Questrade provides a responsive customer support through their online chat interface. The LiveChat is easy to use, and provides convenience to clients who need responses to their queries immediately.

$50 Free Trades

Questrade offers their new clients a $50 free trade opportunity upon opening their accounts. Even with a minimum of $1,000 in your account, you can avail of this free trade bonus, simply by going to the Questrade website and signing up.

Click here to claim your $50!

Aside from the regular brokerage products that Questrade handles, they also have the Tax-Free Savings Trading Account, which they introduced in 2009 and is fast getting to be a popular investment model. Questrade also offers its clients the opportunity to hold gold bullions in their accounts and use their margin privileges to purchase gold on credit.

Online Trading Academy

Even inexperienced traders can get a head start with Questrade, through their partner, Online Trading Academy Canada, which provides free online resources on how to get you started on trading stocks, options, currency exchange, gold and mutual funds.

Secured Trading

Questrade is a member of the Canadian Investor Protection Fund or CIPF, which is the general insurer of all accounts registered with Questrade, with each account insured up to CAD $1 million.

With all these benefits, it is no wonder that more Canadians depend on Questrade for their investment trading needs. If you want to learn more about financial independence through smart online investment trading, the Questrade education resources once you open an account.

And, check out some of the latest Questrade promotional code offers you're eligible to claim!

If you're in the market for a discount broker, here's a short list of some of the best ones, and where you can read reviews of them...

Discount Brokers

Read reviews of some of the best of the rest here: TradeKing Review ($4.95 trades), OptionsHouse Review ($2.95 trades), OptionsXpress Review (best for options traders?), Scottrade Review ($7 trades), Sharebuilder Review ($ automatic investments), Etrade Review (good tools).