Questrade clients using the Questrade IQ trading platform can now buy any exchange-traded fund listed on North American markets commission-free.
Edward Kholodenko (pictured), president and chief executive of Questrade, says: “The elimination of buy-side commissions for ETFs is a natural step for us. We introduced Mutual Fund Maximizer in 2009, a service that rebates trailer fees to clients. In 2008, we introduced dual-currency RRSPs, so clients wouldn’t be forced to pay currency conversion charges every time they bought or sold a US stock in a registered account. And our most famous first: in 2006, we reduced trading commissions to USD4.95.
“We’ve led the way in the online brokerage industry for innovation and pricing since day one. This new approach to ETFs is part of our promise to our clients: keep delivering ever increasing value. In fact, this is simply the first of several announcements this spring regarding new products and services designed to empower our clients.”
For ETF sales, the client will be charged the normal trading commission. Any other charges, such as ECN fees applied by the markets, are also the responsibility of the client.