Toronto, ON (PRWEB) January 15, 2009
Questrade Inc. today takes on the brokerage industry with a new service that rebates mutual fund trailer fees to investors. Trailer fees are commissions fund managers pay as an incentive to brokers and mutual fund dealers for advising clients to purchase their funds. The trailer fee remains the same even if no financial advice is provided. With the launch of Mutual Fund Maximizer today, Questrade is the only direct access brokerage to give this fee back to its clients.
Edward Kholodenko, President and CEO of Questrade said: "Canadians have long paid the highest fees in the world for mutual funds. Questrade has once again set out to provide unique value to investors. It's time independent Canadian investors were rewarded for taking control of their financial future. Questrade's Mutual Fund Maximizer service will rebate our clients up to 1% or more of their mutual fund investments, maximizing their returns."
In addition to the Mutual Fund Maximizer, Questrade also launches a new mutual fund centre with premium research tools and online trading capabilities in the client portal, http://www.myQuestrade.com. The commission for online mutual fund trades has also been reduced to $9.95 a trade.
Continues Kholodenko: "Canadians have been hit extremely hard in the current economic downturn. Mutual funds are an important investment vehicle for many, so we decided to find a way to get Canadian investors a better deal. Questrade's Mutual Fund Maximizer service coupled with our comprehensive online mutual fund centre, including easy online trading, lower commissions, premium research tools, and most importantly, trailer fee rebates once again solidifies our standing as the champion of Canadian independent investors."
All Questrade clients are automatically enrolled in Mutual Fund Maximizer. The average trailer fee is about 1% of the value of the mutual fund every year. Rebates are not considered contributions in registered accounts, meaning any trailer fee refund is additional cash on top of the annual contribution limit.
Mutual Fund Maximizer is part of Questrade's ongoing commitment to providing Canadians with low-fee, innovative brokerage services. In January, 2008, Questrade rolled out USD in RSP, the first and only registered account that allows investors to trade online with US dollars. In January 2007, the firm introduced gold bullion trading in margin, cash and registered accounts, with gold stored at the Royal Canadian Mint. More recently, on January 2nd, 2009, Questrade added tax-free savings accounts to its roster of 15 different account types. The TFSA has the same trading privileges that are available to registered accounts.
Questrade Inc. is a member firm of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). The CIPF provides coverage to Questrade clients for up to CAD $1 million per account.
Questrade Inc., headquartered in Toronto, provides Canadians with high-speed, direct access trading in 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, and is currently ranked as Canada's fastest-growing online brokerage. 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:
Tel: 416.227.9876 x371
Tel: 1.888.783.7866 x371