Questrade eliminates the trading commission on purchases of all ETFs starting February 1st
TORONTO, Feb. 1, 2013 /CNW/ - Starting today, Questrade clients using the Questrade IQ trading platform can buy any ETF listed on North American markets commission-free.
ETFs, or exchange-traded funds, are investment funds that trade on the markets. Typically, an ETF holds a group of different assets, such as stocks, commodities, or bonds.
Edward Kholodenko, President and CEO of Questrade says: "The elimination of buy-side commissions for ETFs is a natural step for us. We introduced Mutual Fund Maximizer in 2009, a service that rebates trailer fees to clients. In 2008, we introduced dual-currency RRSPs, so clients wouldn't be forced to pay currency conversion charges every time they bought or sold a U.S. stock in a registered account. And our most famous first: in 2006, we reduced trading commissions to $4.95."
Continues Kholodenko: "We've led the way in the online brokerage industry for innovation and pricing since day 1. This new approach to ETFs is part of our promise to our clients: keep delivering ever increasing value. In fact, this is simply the first of several announcements this spring regarding new products and services designed to empower our clients."
For ETF sales, the client will be charged the normal trading commission. Any other charges, such as ECN fees applied by the markets, are also the responsibility of the client. Other conditions are available at www.Questrade.com.
Questrade Inc. is a member firm of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund.
Questrade Inc., headquartered in Toronto, provides Canadians with high-speed, direct access trading in the U.S. and Canadian stock and options markets through its IQ trading platforms, as well as forex trading. Since 1999, the company has led the industry in delivering outstanding service, exclusive products and services, and competitive pricing. This commitment to innovation has appealed to independent investors, and for the past two years, the company has ranked as Canada's fastest growing online brokerage. In February, 2012, Questrade also earned the designation as one of Canada's 50 Best Managed Companies.
SOURCE: Questrade Inc.