Forex & CFDs Questrade

Question about Questrade account types

Sorry if this is a stupid question as I'm still relatively new to investing. I'm using Wealthsimple for my TSX/Canadian stocks, and am in the process of joining Questrade for my U.S/International stocks. I have a question though regarding signing up - It asks to choose "Margin", "TFSA", "RSP", or "Forex". Do you have any recommendation on which one to choose? For Wealthsimple, I have a Personal and TFSA already. I already have an RSP at another bank, and 2 TFSAs. So not sure if there's a risk with signing up for another one? Also is 'Margin' similar to WS's "Personal" account?
submitted by thaman05 to PersonalFinanceCanada [link] [comments]

What type of account for general trading.

Hey guys, I know you cannot trade daily in a TFSA. What type of account should I be using? I see robinhood has a 'cash' account but i dont see one on questrade. Only registered accounts, margin, and forex. What is everyone using? I dont want to trade over and over again all day but im looking to do 3-4 trades per week or every other week.
submitted by asticx to Questrade [link] [comments]

Opening a non registered account?

Quick Q...I have a TFSA w 41K invested in ETF's at Questrade and an RRSP account w TD in E Series funds. I now want to open a non registered (taxable account). From what I understand, I can't do this at either Questrade or my regular TD account....I would have to open another account....does it matter where, any advantages to being with TD Direct Investing vs RBC vs Scotia, vs somewhere else, etc...this is sort of a pain cause now I have to have yet another account open.
If I go w TD Direct Investing, I guess I could transfer over my E Series funds to them? I have 15K contributed right now and am looking to put in 9 K into a taxable account.
Is there one place that has lower fees than another for opening a non registered acct?
submitted by llama123456789 to PersonalFinanceCanada [link] [comments]

Questrade fx question

I want to buy usd so that i can buy us stocks. fx is obviously the best rate, does anyone know if questrade would allow me to buy usd in fx and then transfer it to my margin account?
E: I called them and this is what I learned. So I just called them. When you have a CAD balance on a margin account and buy US securities, you borrow their USD, and you get charged 6.25% interest. Currency conversion from CAD to USD is 1.99% if you convert more than 10k you can negotiate that, but I haven't been told by how much. I was thinking of funding my forex account and converting cash there but it turns out that to convert cash there costs the same rate. But if you are just trading and not converting cash you can buy USD with a spread of 2-2.5pips, and you cannot transfer that USD to your margin account. So I'm going to have to find another means of converting my CAD to USD.
submitted by RUS_Hustler to investing [link] [comments]

Question about interest

Hello. I just signed up for a self-directed margin account on Questrade and I am looking to trade in Forex. I just had a few questions about how margins work and how interest is accumulated on my account.
So, my account uses CAD so if I open a position in, say, EUUSD, am I borrowing Euros? Or does it convert my cash that I used into Euros for me?
Is the interest the same as the margin requirement?
How often do I have to pay interest and when does it accrue, if ever?
If i have any other questions, I'll add an edit. Thank you for your help!
submitted by eman201 to Questrade [link] [comments]

My Questrade Portfolio Update - Margin Account Walkthrough - May 2020 All my stocks in my QUESTRADE margin account (75k borrowed) My trading profits for January (QUESTRADE MARGIN) HOW TO USE A MARGIN ACCOUNT WITH QUESTRADE - YouTube HOW TO OPEN A MARGIN ACCOUNT WITH QUESTRADE Which Type of Account Should You Open With Questrade - YouTube Norbert's Gambit with QUESTRADE Tutorial  Best Way to Buy ... How to use a MARGIN account with QUESTRADE - YouTube Trading 101: What is a Margin Account? - YouTube Quest Trade How To Set Up An Account - Step By Step QUESTRADE WALKTHROUGH & TUTORIAL

An account opened with Questrade Inc. allows you to trade currencies on a highly leveraged basis. A small adverse price change to the underlying asset can magnify the impact on the funds in your account, potentially resulting in the total loss of your initial investment and any additional funds that you may deposit to meet margin calls. I had stocks and forex account with Questrade. I was an active trader. Most of the time the trading was ok, but at some point there appeared some trades that I have never done. For Forex with Questrade consider that you CANNOT have short (or sell) position if you have open sell (or short) position. That really kills you. Zack C., Kingston, Ontario. Tuesday, March 24, 2009. BEWARE OF QUESTRADE ... Here are some important things to know about margin accounts: Interest charges are applied to your account automatically. To view interest charges, log in to Questrade, click Reports, and tap Account activity.To view rates, visit our website; If your investments go down in value, your losses are magnified and you still have to pay back your loan, plus the interest Questrade offers a single commission-free forex trading account with margin rate of 3%, variable spreads and the option to use micro tradable lots for better risk management on both the robust MetaTrader 4 and the broker`s in-house platforms.. Managed account services are also available with this broker through its Questrade Portfolio IQprogram. A margin account is much like a cash investment account. You can deposit any amount of money to invest in the market. It has the added benefit of also allowing you to borrow against the assets in the account, if you wish to do so. This is known as “buying on margin” and allows investors to take larger positions than the amount they deposited in their account. Because of this, margin is ... Forex trading on margin accounts is the most common form of retail forex trading. This article explains what ‘margin’ is, shows a margin calculator or ‘formula’ and how to use this free margin safely. Understanding margin requirements, and how leverage levels affect it, is a key part of trading forex successfully. If you have a TFSA account at Questrade, use Margin Power to link the assets in your TFSA to your margin account. ... The terms of a margin call are determined at the discretion of Questrade. Forex. Currency pair: CAD margin rate: USD margin rate: AUD/CAD: 3%: 4.50%: AUD/CHF: 6%: 6%: AUD/CNH: 28%: 28%: AUD/CZK: 13%: 13%: AUD/DKK: 13%: 13%: AUD/HUF: 13%: 13%: AUD/JPY: 6% : 6%: AUD/MXN: 6.50%: 6 ...

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My Questrade Portfolio Update - Margin Account Walkthrough - May 2020

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