Help & How-to | Questrade

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]

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]

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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. With an Forex & CFD account at Questrade, you can trade currency pairs as well as stock, commodity and index contracts for difference (CFDs). Margin requirements The margin requirement for an FX or CFD position is based on the real time value of your position (in the currency of the account). For forex accounts the minimum initial deposit is $1,000. This is higher than the average but if you’re actually serious in trading forex and CFDs in the long term then this shouldn’t be a major issue since you will be needing such capital to make a good profit. This warrants Questrade with a minimum deposit score of 3/5. Questrade is a fully licensed and regulated Forex trading brokerage that offers a complete set of cost-effective solutions for traders. There are 55+ currency pairs (major, minor and exotic pairs) in addition to commodities, indices, exchange traded funds and other options. Questrade offers five different trading plataforms which are specifically designed to trade with different instruments. It is an ECN broker which means that if offers direct access to the main market liquidity providers. In the case of Forex trading, it offers slow and variable spreads.

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