Questrade Rolls Out Sweeping Pricing Improvement
Online broker Questrade introduces democratic pricing -- a stock trade commission of 1¢ per share, $4.95 minimum and $9.95 maximum.
Toronto, ON (PRWEB) April 4, 2008 -- Questrade Inc., Canada's most innovative brokerage, announces today it is simplifying its top-rated stock trade commission plans into a single "democratic" price. All Questrade clients are eligible for 1¢ per share, with a minimum commission of $4.95 and a cap of $9.95.
Democratic pricing automatically gives clients the best possible commission for every trade. Small lots can qualify for a commission of $4.95, trades of between 495 and 995 shares are priced at a penny per share, and larger lot trades are capped at $9.95.
Says Edward Kholodenko, President and CEO of Questrade: "We want to offer a fair deal to all our customers, no matter their trade activity level or account balance. It's the democratization of trading. New or more casual investors now get the same purchasing power that was always available to active and pro traders."
Democratic pricing takes effect April 1st, 2008, and all Questrade clients are automatically enrolled. A Questrade account can be opened with $1000, there are no annual fees, no trade activity thresholds and a balance of only $250 is required to maintain an account in good standing.
The new commission is a continuation of the firm's commitment to accessible, cost-effective investment solutions for Canadians.
In January, 2008, Questrade introduced USD in RSP™, the first RSP to hold U.S. dollars. This service eliminates the 1% to 2% currency conversion fees that other brokerages attach to all RSP trades in U.S. markets.
In January, 2007, Questrade began offering the gold RSP, the only registered savings account in Canada that directly deals in physical gold. With gold around USD $1000 today, investor interest in the service has been surging - doubling since the beginning of 2008.
About Questrade:
Questrade Inc., headquartered in Toronto, provides Canadians with high-speed, direct access trading to the U.S. and Canadian stock and options markets as well as forex trading. Since its inception in 1999, the company has grown and diversified: now Questrade client services specialists speak 13 languages including English, French, Mandarin, Cantonese, Spanish, Russian, and Hebrew. The company continues to demonstrate its competitive leadership with a combination of outstanding service, advanced technology and competitive pricing structures.
For more information, please contact:
Lynn Suderman
Manager, Communications
Tel: 416.227.9876 x371
Tel: 1.888.783.7866 x371
http://www.questrade.com
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