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QuesTrade.com

Discussion in 'Forex Brokers' started by Administrator, Oct 30, 2008.

  1. Administrator

    Administrator Just Administrator :-)

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  2. sam-cha cha

    sam-cha cha Recruit

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    Questrade is the worst brokerage in canada!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! i have had many issues with them and the last one got me out of my mind: i had 100 shares long . the stock started moving down and i decided to sell it and take a small loss( about $200) but my orders were rejected for not enough shares. i had enough shares but it kept rejecting my order so i called the trading desk .it took over 8 minutes to correct the error on their side and the trade rep came back on the line to say: Ok sir now you are able to sell your shares. the loss was 703 dollars. i spoke to managers for over an hour and was offered $50 credit. now i am in the process ofcancelling my account. TO EVERYONE WHO IS CONSIDERING QUESTRADE I SAY STAY AWAY as not only their platforms are a big failure, they have the worst customer service ever. dont go after the 4.95 commision fee like i did because u are going to regret your decision
     
  3. Quasimodem

    Quasimodem Recruit

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    Have been caught up in the March 24th Glitch. It resulted in losses where buy stops were executed as shorting the stock. I was put into a false sense of security by emails saying it was a display error and that all accounts would be righted. It hasn't been.

    Agree that this site is not for swing or day traders.

    The rep I have been dealing with did his calculations citing that I had put two stop loss orders in, but I did not hold any of that stock and this would be impossible to do. They will not accept a stop loss without me holding the positions. Luckily I take my suggestions for trades from a third party with evidence of historical suggestions. It is more than their word vs. mine, I have a historical trail with Questrade that mirrors the suggestions from an online third party.

    Every order went opposite to my wanted trades. I have incurred a loss equal to what I should have gained.

    A strong forensic investigation is needed for my trades.

    Outside of the rep knowing that I could not put a stop loss in without holding the security, he insists that I keyed in two stop losses which were translated into short sells for three securities. Many other trades had similar results.

    When calculating my losses he did not even look at the historical trades for the day. A buy stop that shouldn't even have been triggered went to market as a shorting. My buy stop was not reached for the day. I should not have even been in this trade, plus the market went up.

    The rep said that I had signed an agreement that absolved them from computer glitches. I did not sign an agreement that absolved them from culpability from how they handle the glitches. Their emails saying that they are aware of the problem and that displays would be righted are of their responsibility. Even so, I covered the next day to mitigate their mistake. Many stocks continued to rise, one being ten percent up.

    The rep said that Questrade offers the cheapest trades, but they aren't the cheapest if they incur losses by their errors with the false assurance that things will be righted in emails over the ensuing days.

    Waiting on their assessment of my account above and beyond what I have been dealing with to date. If they right this I will stay with them but believe that I will have to go through the legwork of finding another broker.
     
: questrade

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