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MAXIMIZE Your Savings | Questrade Referral Code Bonus (2024)
- Thomas DeMichele
Sign up with our Questrade referral code and get $50 in free trades on a self-directed account or $10,000 managed free on a managed account.
After you join Questrade, you can then earn $25 for each person you refer with your own referral code ($50 on every third referral). Or, for even more earning potential, you can earn $50 per sign-up or 7.5% of the commission for every trade a referred client makes with no limits when you join Questrade’s affiliate program and share your link.
| ? Questrade Affiliate Link (self-directed accounts) | Account Type 1 |
| ? Questrade Affiliate Link (managed accounts) | Account Type 2 |
| ? Questrade Discount | $50 off trading fees |
| ? Questrade Commission | Up to $70 or 7.5% |
| ? Last Verified | April 16, 2024 |
Questrade Referral Code
Use referral code 5fd7bd5918644 and get $50 in free trades or $10,000 managed free when you sign up for Questrade.
Get $50 in free trades with our Questrade when you open a self-directed trading account and fund it with $1,000 or more using referral code 5fd7bd5918644.
Get up to $10,000 managed free when you sign up for a managed Questwealth Portfolio account using referral code 5fd7bd5918644 (you can open an account with as little as $1, but must fund your account with at least $1,000 to qualify).
Did you know you can trade ETFs for free on Questrade? Sign up with our link now to not only get your discount but to trade ETFs for free as well! You can also choose to apply other Questrade referral promotion codes too. For example, Questrade promo bonus code “5FREETRADES” will get you 5 free trades, Questrade promo bonus code “ADVANTAGE14” will get you a month of free trades and market data, and you can even transfer your account for free when you sign up with our link.
Program Overview
How to Sign Up For Questrade
Below is everything you need to know to get $50 in free trades on self-directed accounts or $10,000 managed free when you sign up for Questrade.
Time needed: 30 – 45 mins
ID required: Government issued ID, banking information, and SIN number
- Choose Your Deal
Choose which account type you want and use one of the following links to ensure your deal is applied:
$50 in free trades for self-directed accounts
$10,000 freely managed for managed accounts
- FIlling In The Required Information
Click “open an account” button to open a new self-directed or Questwealth Portfolio account. Where you will input the required information needed to apply for a new account.
- Funding Your Account
After the sign-up process is complete, fund your account with the minimum required balance ($1 for managed or $1,000 for self-directed). Completing this will ensure you get your $50 in free trades or $10,000 managed (managed account perks won’t start until you invest at least $1,000).
Questrade’s promo codes only apply to the first account you open if you are opening multiple accounts. You can also only apply one code per account.
How the Questrade Referral and Affiliate Programs Work
Questrade has both a referral program and an affiliate program. Each program works differently.
With the Questrade referral program, share your Questrade refer a friend code, and you get $25 for every friend who opens an account and then get a $50 Questrade referral bonus for every third referral. The drawback here is that you can’t offer your invitee a discount.
With the Questrade affiliate program, you can either earn $70 per sign-up or a 7.5% commission for self-directed accounts or earn $50 per sign-up for managed accounts. Not only can you earn more with the affiliate program, but you have the added bonus of being able to offer discounts as well. You can offer $50 in free trades for self-directed accounts or $10,000 managed free for Questwealth Portfolio managed accounts to anyone who uses the corresponding link.
Questrade Commission Options
Your commission is based on whether you are doing the referral program or affiliate program, which affiliate link you choose to share, and which account type someone signs up for.
Please keep in mind that not all deals are offered with all links. For example, you can’t get revenue sharing on the $10,000 managed free deal (you can only get the $50 per sign-up option). Meanwhile, you can choose between $70 per sign-up and 7.5% revenue sharing commission options for the $50 in free trades deal option.
The reason not all deals are available with all commission options is that different deals and commissions apply to different account types.
Basic Referral Program: Get $25 for every friend who opens an account. Get a $50 bonus for every third referral.
FX CPA Plan (Forex and CFD Accounts): Get $50 for every new Questrade Global account that you refer.
CPA Plan (self-directed option 1; for $50 in free trading fees offer): Get $70 for every new qualified brokerage account that you refer. When you recommend a business to partner with us as a sub-affiliate, you will earn $10 per referred affiliate, should they select the CPA program.
QWP CPA Plan (for managed accounts; $10,000 managed offer only): Get $50 for every new qualified Questwealth Portfolio account that you refer.
Revenue Sharing Plan (self-directed option 2; for $50 in free trading fees offer) The revenue sharing plan pays 7.5% of the commission generated for every trade a referred client makes with absolutely no limit! Referring an affiliate on the revenue sharing plan means that you receive 1.5% of commission generated per trade made by your sub-affiliates referral with no limit.
The Questrade Commission Structure table below shows the different options to earn with Questrade.
| Referral Type | Commission Share |
|---|---|
| Referral Program | $25 per sign up ($50 every third sign up) |
| FX CPA | $50 per sign up |
| CPA | $70 per sign up; $10 sub-affiliate |
| QWP CPA | $50 per sign up |
| Revenue Sharing | 7.5% per sign up; 1.5% sub-affiliate |
Questrade Deal Rules
The main rules of the Questrade Affiliate program are as follows:
- You and your invitees must live in a country that can use Questrade (so for example, Canada).
- You must meet the minimum requirements to get a deal. For example, you must open a self-directed account with $1,000 to get $50 in free trades.
- There is no limit to how many accounts you can open, but the offer only applies to the first. You will get a portfolio for each account.
Questrade Referral and Affiliate Program Review
In terms of the ability to earn, Questrade is one of the best equities platforms out there. Equities referrals programs tend to be stingy when it comes to commissions, but Questrade is extremely generous in that it will go as far as to offer residual commissions on trading fees for life.
On the invitee’s end, things are just as good. Questrade is the obvious and logical choice for your online trading as a Canadian, whether you choose the self-directed or managed wealth options. Since you are likely to use it anyway, it is hard to argue with getting $50 off trading fees or $10,000 managed free. In fact, if you are going to choose a managed solution for your investing, the $10,000 offer is particularly attractive given that it is ongoing.
With that said, there are some things we think could be better. For example, we would love to see an ongoing commission for managed accounts, ongoing savings for self-directed accounts, and perhaps a referral program that benefited the invitee.
Still, with generous savings and opportunities to earn, and with a rock-solid platform you’ll probably use anyway as a Canadian, this Questrade is clearly the best in its class and deserves a perfect 5-out-of-5-star rating.
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Platform Documentation
Platform Doc.
About Questrade
Questrade was established in 1999 and, over time has become Canada’s largest discount broker. If you live in Canada and you want to trade stocks, Questrade might be your best alternative to trading and investing with the big banks.
With that said, Questrade does a lot more than just stocks. They also offer options, bonds, exchange-traded funds (ETFs), mutual funds, contracts for differences (CFDs), forex, guaranteed investment certificates (GICs), international equities, access to initial public offerings (IPOs), and precious metals. Even better, they also have a free-to-use practice account where you can try paper trading for 90 days. So if you aren’t ready to sign up yet, check out the Questrade practice account.
Questrade Liquidity
The great thing about the stock market is that it is as liquid as the pair you are trading. Want to trade big names like Apple? Then you have near limitless liquidity. Want to trade penny stocks on the Canadian Securities Exchange CSE or Toronto Stock Exchange TSX? Then you may need to consider the liquidity of the market you are trading. Of course, this is true for any broker.
Luckily with Questrade, you don’t have to guess, as you can sign up for the Advanced Market Data package to get access to level 1 and level 2 data for both American and Canadian exchanges! Specifically, level 2 data will let you take a live look at the order books so you can see just how liquid a given market is!
Questrade Order Types
Questrade’s order types range from the basic types like ‘market orders’ to more complex types like ‘limit on open’ orders. That means not only will you have all the basic order types you need as a trader you’ll also have some more advanced types to help you better manage risk.
The following is a list of all order types Questrade offers:
- Market order
- Limit order
- Stop order
- Stop limit order
- Trailing stop order
- Trailing stop-limit order
- Limit on open order
- Limit on close order
Questrade IQ Edge is a customizable desktop platform for charting assets, doing fundamental analysis, and executing orders. You can even see Level 1 and 2 data and use IQ Edge for options trading. The best part is IQ Edge is free, so if you sign up for Questrade, we strongly urge you to check it out.
Questrade Fees & Product Selection
Questrade has a competitive fee schedule and an extensive product selection. Basically, there is nothing you can’t get with Questrade when it comes to equities, forex, metals, and the like, and the fees you’ll pay are lower than or comparable to many other Canadian brokers.
Below is a list of products offered on Questrade and related fees for self-directed accounts:
Stocks
As low as 1¢ / share 1
min. $4.95 to max. $9.95
ETFs
Buy for Free
Sell 1¢/share; min. $4.95 to max. $9.95
Options
Trade for $9.95 + $1 / contract
FX (Forex)
Spreads as low as 0.08 pips
CFDs (Contract for the Difference)
Spreads as low as 0.08 pips
Mutual funds
$9.95 / trade
Deferred Sales Charge fees may apply if withdrawn early. Check the mutual fund’s prospectus or fund fact document for more details.
Bonds
Min. $5,000 purchase
GICs
Fees may apply if withdrawn early.
Min. $5,000 purchase
International equities
1% of the trade value
Min. $195.00 plus applicable exchange or stamp fees, charged in the currency of the account in which the trade is placed.
IPOs and new issues
Free to buy
Min. $5,000 purchase.
Product Precious metals
$19.95 USD / trade
Questrade Wealth Portfolio fees start at 0.25% with a balance of $1,000 and can be as low as 0.2% with a balance of $100,000+. To see a breakdown of fees for managed accounts, seeQuestwealth Portfolios pricing.
Questrade Account Types
The main Questrade account types are Self-directed and Questwealth Portfilo. As the name implies, a self-directed account lets you place your own trades. Meanwhile, Questwealth is a managed account where an account manager invests for you.
There is only one type of managed account. However, there are multiple types of Self-directed accounts.
Popular types of self-directed account include:
- Marign: These accounts let you increase your buying power by leveraging assets you own.
- Tax-Free Savings Account (TFSA): These accounts let you trade tax-free and without capital gains.
- Retirement Savings Plan (RSP): These accounts let you grow your account tax deffered.
- Forex & CFDs: Forex is currency trading, while CFDs allow you to trade a variety of assets in 24 hour markets.
You can open more than one account when you sign up for Questrade, so feel free to pick the ones that allow you to trade the way you want.
Questrade Security & Integrity
Questrade is Canada’s most popular discount broker for a reason. Not only do they have a wide selection of products, but they also take investor protections. First off, just like the big bank alternatives, Questrade is regulated by the IIROC AND CIPF. That means they have to meet the highest standards in the investment industry.
Their protections for consumers include having an additional $10 million in private insurance for accounts, following or exceeding all industry standards in terms of regulations, and employing encryption and account security technologies. In fact, Questrade is so confident in their account security that they offer a 100% reimbursement for any unauthorized transactions on your account. Of course, there are also many measures to protect privacy as well.
In short, Questrade is about as secure as a trading platform can be. Still, we encourage you to learn more about account security for yourself before you start trading so you can focus on your investments and not security concerns.
Questrade Funding Options
You can fund your Questrade account with CAD or USD using a variety of methods. Funding methods include online bank payments, bank transfers, pre-authorized deposits (PAD), Interac online, wire transfers, cheques, bank draft or money orders, non-certified cheques, and transfers from other brokers.
| Funding method | Processing time | Currency |
| Online banking bill payment | 1-2 business days | CAD only |
| Pre-authorized deposit (PAD) | 3-4 business days when the total daily deposit amount is under $10,000.
Up to 7 business days when the total daily deposit amount is $10,000 or more, or when using a void cheque. |
CAD & USD |
| Interac Online | Instant for deposits made before 5:45pm ET
1-2 business days for new accounts and deposits made after 5:45pm ET |
CAD only |
| Transfer from another bank or broker Learn more about transfers |
It can take 20 business days or more to receive your holdings from the outgoing financial institution.
1-2 additional business days after we receive your assets from the outgoing financial institution. |
CAD & USD |
| Wire transfer | 1-2 business days | CAD & USD |
| Certified cheque, bank draft, or money order | 1-2 business days | CAD & USD |
| Non-certified cheque | CAD non-certified cheques are held for 10 calendar days
USD non-certified cheques are held for 15 calendar days |
CAD & USD |
| Stock certificate | Processing of physical stock certificate deposits was halted due to COVID-19. | CAD & USD |
Questrade Summary
Questrade is a top broker in Canada. You get a trusted name, an array of account types, and almost any market you could want at your fingertips. On top of this, you also get a nice discount going in and a chance to earn by getting others signed up as well. No matter what you are looking for in equities markets, Questrade is a solid choice. This one is easy to recommend to any Canadian investor.
Common Questions and FAQs
Questrade allows you to trade on 15+ global markets including the United States, London, and Hong Kong markets.
You earn money when you refer someone to Questrade, and they sign up using your link. The amount you earn depends on if you are sharing a referral link or if you have signed up for the referral program. The amount you earn with the affiliate program depends on which deal you offer and which link you share, as explained above.
You can choose to be paid by PayPal or check.
You get paid monthly at the end of the month.
Questrade does allow affiliates to promote their link using Pay-Per-Click.
Use our referral link to apply your Questrade discount. Make sure to use the link associated with the discount you want!
You either get $50 off trading fees or $10,000 managed for free depending on the link you use. To get the $50 free you have to set up a self-directed account.
When you click the link you’ll see the deal on the landing page.
There is no limit to how many people a single account can sign up.
You can increase commission by sharing your code with more people and/or joining the affiliate program and being selective about which links you share.
Yes, but discounts can only be applied to one account.
Yes. You’ll need to verify your identity and upload documents to trade on Questrade.
