I took advantage of moving some of my money from TDDI and IBKR to Questrade last year, just as year 2024 was finishing up. Questrade had a promotion of 0% management fee (typically ~0.25%) for opening a new account or transferring to them, for a year.
The good thing about Questrade is that they reimburse any fees, up to $150, in case you need to pay to get your money transferred to them. There is no minimum amount needed (unlike others, like WealthSimple that is asking for minimum amount of 15K before reimbursing your fees)
Some of the benefits of the Questwealth that I really enjoy are
- Automatic balancing: this is when you got some dividends or some changes in the market, and the algorithm invests for you or change your investment. Something that typically a passive investor will take a long time to react.
- Tax-loss harvesting: this is very tempting. They are using techniques to lower your tax. Whatever that is, is good. I need to learn more about this. But it sounds good whatever it is.
I wasn’t able to find the original promotion details. However, this is the confirmation for a chat I had with Questrade. And I found a video on it.
Thank you for the wait, Shahin. I was able to review the offer for 0% management fee and do see that since the funds were transferred in during the enrollment period, you will be eligible for the offer.
And the detail for the promotion are as follow:
Any fees related to this offer will be rebated in the account for you. You’ll receive a rebate that will appear beside your management fee on your statement. There will be payment Periods when the account will be accessed and the amount will be rebated 10 business days after the period.
a) September 1, 2024 to September 30, 2024;
b) October 1, 2024 to December 31, 2024;
c) January 1, 2025 to March 31, 2025;
d) April 1, 2025 to June 30, 2025;
e) July 1, 2025 to September 30, 2025; or
f) October 1, 2025 to December 31, 2025.
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