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Forex pk taxa de câmbio Compartilhe e ganhe presentes. O ForexTrading.pk é o melhor site de forex do Paquistão, que oferece atualizações ao vivo do forex, até as taxas de câmbio do forex no Paquistão. Veja as taxas de mercado ao vivo do Inter Bank, Open Market e International forex atuais. Encontre informações de negociação forex incluindo taxas forex, corretores, arquivos, gráficos, gráficos, forex uptodate notícias, forex concessionários, diretório de câmbio, preços diários de ouro, petróleo pirisas, taxas de prata no Paquistão e uma ampla gama de informações atualizadas para ajudá-lo a ser bem sucedido em negociação forex. Invista em barras de ouro para proteger seu investimento da inflação. Para coletar moedas de ouro ou investimento em outro metal precioso, você deve estar ciente dos preços atualizados do ouro, prata e platina. Nós fornecemos as taxas em 10g, 1 Tola, Ounc para todas as principais cidades do Paquistão, incluindo Karachi, Lahore, Islamabad Hyderabad, Multan etc. Os investidores podem visualizar dados do gráfico forex para forcast taxa de câmbio forex. O gráfico Forex representa as flutuações da taxa de câmbio. Muitas variáveis ​​afetam as taxas de câmbio, como taxas de juros, políticas bancárias, geopolítica e até mesmo os horários do dia podem afetar as taxas de câmbio. Seleção de melhor corretor de forex para o sucesso no comércio forex é muito importante. Nosso corretor de Forex Directroy ajuda você a escolher as melhores empresas de corretagem forex para o comércio forex no Paquistão ou internacionalmente. Khanani & Kalia International, Companhia Oriente Exchange Oriente, Zarco Exchange Company. Os títulos do prêmio são emitidos pelo governo do Paquistão para economizar seu dinheiro. As obrigações de prémio são semelhantes ao dinheiro porque você pode comprar um título de prêmio de qualquer banco e vendê-lo para qualquer pessoa. Governo detém sorteios para dar prêmios em dinheiro para os sortudos vencedores. O valor do bônus de prêmio é 200, 750, 1500, 7500, 15000 e 40000 Rs.

Forex pk taxa de câmbio Forex.pk, o melhor portal de forex do Paquistão fornece taxas de forex até o minuto no Paquistão Open Market, Paquistão Inter Bank & amp; Mercado internacional de forex. Aqui você vai encontrar arquivos de taxas de forex, gráficos, gráficos, forex notícias, forex concessionários diretório, diretório de moeda, os preços do ouro, resultados de títulos do Paquistão e uma ampla gama de informações para ajudá-lo a explorar o mundo dos estrangeiros. Escolher o melhor corretor forex é importante. Em nossa diretriz Forex Brokers você encontrará guias sobre como escolher a melhor corretora de forex. Remessa em Casa & # 8211; Soneri Mehnat Wasool. Introdução. O Soneri Bank Limited (SBL), sob orientação da Iniciativa de Remessa do Paquistão (PRI) (uma joint venture do Banco do Estado, Ministério das Finanças e Ministério de Paquistão, Paquistão), iniciou a Iniciativa de Desembolso de Remessas de Fundos em Julho - 2012). Em um período de tempo muito curto e com excepcional suporte ao cliente e padrões de prestação de serviços, o Soneri Bank conseguiu fazer uma contribuição positiva para o negócio de remessas domésticas. O Soneri Bank reconheceu o potencial do negócio de Home Remittance e, portanto, marca seus negócios com o nome do produto “Soneri Mehnat Wasool Remittance”. O Soneri Bank já estabeleceu as relações com as seguintes empresas de câmbio no exterior. Soneri Mehnat Wasool permite que você receba convenientemente dinheiro enviado da MoneyGram (com a presença de mais de 350.000 agentes em 200 países e territórios), a Ria Money Transfer (com a presença de mais de 243.000 agentes em 134 países), Al Ansari Exchange / Worldwide Cash Express Money Transferência (com mais de 100.000 agentes em todo o mundo) Wallstreet Finance (Canadá), Golden Money Transfer (EUA), Alpine Exchange (EUA) e Small World LCC através de mais de 285 Filiais Soneri em todo o país. Para mais informações, clique em nos contate. Comissário de Reclamações. Avenida, G-5/2, Islamabad, Paksitan. É rápido: seu dinheiro é necessário em apenas 10 minutos. * É seguro: cada transação é protegida por um sistema altamente seguro, garantindo um pagamento rápido e apenas para a pessoa certa. Está disponível para todos - você não precisa de uma conta bancária ou de um cartão de crédito É fácil - basta visitar o seu Posto Soneri mais próximo, juntamente com o número do seu cupom de transação e o documento com foto original. * Sujeito a receber horas de operação. Obtenha o seu número de referência do remetente Visite o Ramo Soneri mais próximo Forneça o seu Número de Pino da Transação e o seu documento com foto original. O dinheiro será pago a você imediatamente. Na Soneri, só se pode receber dinheiro enviado do exterior. 1. Quantas empresas estão listadas para o Home Remittance no banco SONERI com nomes de países originados? O Banco SONERI atualmente recebe pagamentos da MoneyGram International, da Wallstreet Finance Canada, da Golden Money Transfer (EUA) e da Al-Falah Exchange (EAU). O Banco está em processo de expansão de sua rede de empresas parceiras em: Bahrain, Malásia, Reino Unido, etc. 2. Quais são os encargos da Remessa Doméstica? O banco da SONERI cobra alguma coisa por isso? SEM ENCARGOS & # 8211; Conforme as diretivas do Banco do Estado do Paquistão, o beneficiário (beneficiário) não terá que pagar pelo recebimento de dinheiro. O banco SONERI paga o valor total recebido do exterior ao beneficiário. 3. Qual é o tempo de retorno (TAT) da remessa recebida através do exterior? Assim que um pagamento é recebido do exterior, ele fica imediatamente disponível para coleta pelo beneficiário de qualquer uma de nossas filiais em todo o Paquistão. Os pagamentos podem ser coletados dentro de nosso horário bancário regular. 4. É obrigatória uma conta no Banco SONERI para fazer uso da Remessa do Lar? Não é obrigatório ou necessário que o beneficiário mantenha uma conta no SONERI Bank para aproveitar este serviço. O beneficiário pode receber o pagamento em numerário, visitando pessoalmente qualquer uma das agências da SONERI. Para fins de identificação, o beneficiário deve portar o CNIC original ou o Passaporte. 5. Lista de moedas que podem ser emitidas na Home Remittance pelo SONERI BANK? As remessas caseiras só são pagas em rúpias paquistanesas. 6. Podemos dar moedas estrangeiras através da Remessa de Casa? As remessas caseiras só são pagas em rúpias paquistanesas. 7. Quais são os requisitos obrigatórios para aproveitar a Remessa? O beneficiário deve ter uma identidade legal (CNIC ou Passaporte) emitida pelo governo do Paquistão, como o CNIC / Passaporte. 8. Se um recetor não recolher a remessa do Banco SONERI, qual seria o tempo máximo para REALIZAR o pedido? Não há período máximo de permanência, se não forem cobrados, o pagamento recebido permanecerá com o Banco, até o momento em que a MoneyGram solicitar o cancelamento e o reembolso do pagamento. 9. O Banco Soneri emitirá moeda estrangeira DD contra a Remessa Doméstica? As remessas caseiras só são pagas em rúpias paquistanesas.

Forex pk taxa de câmbio Informação de contato: D.G. (Mídia) Ph: 9211707-9208281. MOS para Finanças Rana Muhammad Afzal Khan recebeu homólogo do Azerbaijão. O ministro de Estado das Finanças, Rana Mohammad Afzal, recebeu seu colega do Azerbaijão, Samir Sharifov, para uma reunião na segunda-feira. Samir foi acompanhado pelo embaixador do Azerbaijão Ali Alizad na ocasião. O Sr. Samir Sharifov disse que o Azerbaijão oferecia bolsas de estudos educacionais para diferentes países muçulmanos e que os estudantes do Paquistão também eram bem-vindos para fazer isso. O ministro Rana Afzal acolheu a sugestão. Ele acrescentou que o Paquistão queria buscar oportunidades para a exportação de pessoal tecnicamente treinado para o Azerbaijão. Ele procurou o apoio do Sr. Samir Sharifov neste reino. MOS para Finanças Rana Muhammad Afzal Khan participou da Conferência da Mesa Redonda sobre a Carta da Economia. O Ministro de Estado das Finanças, Rana Muhammad Afzal Khan, coordenado pela Câmara de Comércio e Indústrias de Islamabad, em coordenação com o Instituto de Políticas de Desenvolvimento Sustentável (SPDI) e o Centro de Empresas Privadas Internacionais (CIPE), na segunda-feira. A delegação convidou o ministro a visitar os escritórios da Câmara e também pediu-lhe que participasse da Conferência dos Presidentes das Câmaras de Paquistão (APCPCI) em Gwadar, em março. O ministro aceitou o convite e também garantiu à delegação seu total apoio aos esforços destinados à promoção do comércio e do comércio no país. A delegação de 3 membros do Programa de Fortificação de Alimentos do Paquistão (FFP) convocou o MOS para as Finanças Rana Muhammad Afzal Khan. Uma delegação de 3 membros do Programa de Fortificação de Alimentos do Paquistão (FFP), chefiada por Diane Northway, líder da equipe, pediu quinta-feira ao ministro de Estado das Finanças, Rana Muhammad Afzal Khan. Ela estava acompanhada pelo Dr. Tauseef Akhtar Janjua, Diretor Técnico e Laila Rubab Jaskani, Gerente Nacional de Advocacia e Comunicações. Três membros da delegação da ACCA do Paquistão pediram o MOS para Finanças Rana Muhammad Afzal Khan. Uma delegação de três membros da Associação dos Contabilistas Certificados do Paquistão (ACCA), liderada por Sajjeed Aslam, pediu nesta terça-feira ao Ministro de Estado das Finanças, Rana Muhammad Afzal Khan. Ele foi acompanhado pelo Sr. Assad Hameed Khan e Haroon A. Jan acompanhado. Assessor do PM em Finanças O Dr. Miftah Ismail e o Diretor do Banco Mundial, o Sr. Patchamuthu Illangovan, discutiram a cooperação do Banco Mundial. Conselheiro do Primeiro Ministro das Finanças, Miftah Ismail teve uma reunião com Patchamuthu Illangovan, Diretor do Banco Mundial na sexta-feira. O Sr. Illangovan também compartilhou com o Conselheiro detalhes sobre os Acordos no valor de US $ 305,0 milhões recentemente assinados com o Banco Mundial para apoiar projetos no setor agrícola no Punjab e melhorar o estado nutricional de crianças e mulheres em Khyber Pakhtunkhwa. O conselheiro Miftah Ismail apreciou o Banco Mundial por estender seu apoio contínuo ao governo do Paquistão em seus esforços para alcançar o desenvolvimento econômico sustentável no país. O Secretário Financeiro também participou da reunião. Assessor do PM on Finance presidiu uma reunião para analisar o progresso dos projetos financiados pelos parceiros de desenvolvimento. O Dr. Miftah Ismail, Assessor do Primeiro Ministro das Finanças, presidiu nesta quarta-feira uma reunião para revisar o progresso de vários projetos financiados por parceiros internacionais de desenvolvimento. Altos funcionários da Divisão de Assuntos Econômicos informaram o Assessor sobre a carteira de assistência econômica relacionada a diferentes parceiros multilaterais e bilaterais de desenvolvimento, incluindo o Banco Mundial e o Banco Asiático de Desenvolvimento. O briefing incluiu o status mais recente de desembolso de fundos sob esses projetos. O consultor disse que a disseminação e utilização efetiva dos fundos era muito importante para alcançar os melhores resultados dos projetos de desenvolvimento. Ele enfatizou a necessidade de conclusão oportuna de projetos e orientou a EAD a garantir o acompanhamento efetivo das agências executoras para assegurar a implementação dos projetos conforme os cronogramas aprovados. A reunião contou com a presença de altos funcionários das Divisões de Finanças e Assuntos Econômicos. O ministro das Finanças do Punjab discutiu assuntos financeiros com o Dr. Miftah Ismail. A ministra das Finanças do Punjab, Ayesha Ghaus Pasha, teve uma reunião com o Assessor do Primeiro Ministro das Finanças, Dr. Miftah Ismail, na quarta-feira. Governo Federal. A delegação de funcionários discutiu o pacote de pagamento com MOS para Finanças e Assuntos Econômicos. Uma delegação da Federação de Empregados do Governo Federal (Paquistão), Islamabad, pediu nesta quarta-feira ao ministro de Estado da Fazenda, Rana Muhammad Afzal Khan, que apresentou propostas relacionadas a salários e subsídios. Representante Especial do Primeiro Ministro Britânico para o Afeganistão e o Paquistão, Gareth Bayley se reuniu com o Assessor do PM em Finanças. Conselheiro do Primeiro Ministro das Finanças, Miftah Ismail recebeu o Representante Especial do Primeiro Ministro Britânico para o Afeganistão eo Paquistão, Gareth Bayley, para uma reunião aqui na terça-feira. O Alto Comissário Britânico, Thomas Drew, acompanhou o dignitário em visita na ocasião. O conselheiro Miftah Ismail informou Gareth Bayley sobre as prioridades do governo e declarou que o governo PML-N havia feito progressos significativos nos últimos quatro anos e meio nas áreas de paz e paz. segurança, estabilidade econômica, suficiência energética e proteção social. Ele disse que na parte restante do mandato, o governo tentaria consolidar os ganhos econômicos obtidos nos últimos quatro anos e o processo de reforma continuaria nesse período. Ele acrescentou que, apesar dos desafios, a economia estava avançando no caminho do crescimento inclusivo e o governo estava determinado a atingir 6% de meta de crescimento em 2018. Ele também fez menção especial ao crescimento na arrecadação e disse que novas reformas na administração fiscal são uma prioridade. . Gareth Bayley assegurou ao Conselheiro o apoio e a cooperação do governo do Reino Unido para reformas econômicas, bem como para iniciativas de cooperação regional. Novos Preços de Produtos Petrolíferos. Os seguintes preços de diferentes produtos petrolíferos foram aprovados para o mês de fevereiro de 2018: Preços existentes (Rs) por litro. Aumentar (Rs) por litro. Motor Spirit (MS) 92 RON Gasolina. Óleo de Querosene Superior (SKO) Óleo Diesel Leve (LDO) Autoridade Reguladora de Petróleo e Gás (OGRA), pode-se dizer que havia proposto um aumento de dois dígitos nas taxas de HSD (Rs. 10,25 por litro), SKO (Rs. 12,74 por litro) e LDO (Rs. 11,72 por litro). mês de fevereiro com base no aumento dos preços dos derivados de petróleo no mercado internacional. O Governo, no entanto, decidiu reduzir o impacto sobre os consumidores através do ajuste nas taxas aplicáveis. Os novos preços entrarão em vigor de 1 de fevereiro até a meia-noite de 28 de fevereiro de 2018. Miftah Ismail reuniu-se com a delegação do Banco Mundial. Conselheiro do Primeiro Ministro das Finanças, Miftah Ismail, juntamente com o Ministro dos Recursos Hídricos e Ministro de Estado das Finanças teve uma reunião com a delegação do Banco Mundial visita aqui quinta-feira. A delegação liderada por Annette Dixon, Vice-Presidente para a região do Sul da Ásia, também incluiu a Sra. Snezana Stoiijkovic, Vice-Presidente Regional da IFC (Ásia-Pacífico) e o Diretor do País no Paquistão, Patchamuthu Illangovan. O conselheiro Miftah Ismail informou a delegação visitante do atual estado da economia e disse que as políticas adotadas durante os últimos quatro anos estabilizaram a economia e a ajudaram a crescer a um ritmo constante. Ele disse que o Paquistão alcançou uma década de alta taxa de crescimento de 5,3% no último ano fiscal e estava visando um crescimento de 6% em 2017-18. Ele disse que o governo estava colocando grande ênfase nas reformas tributárias e na ampliação da base tributária. Miftah Ismail acrescentou que a conta corrente apresentou um desafio no passado recente, devido ao aumento das importações necessárias na fase de expansão. Ele disse que as medidas para melhorar as exportações começaram a dar frutos e que o crescimento das exportações ajudará a reduzir o déficit comercial. O Assessor Financeiro disse ainda que o Paquistão havia resolvido o problema da escassez de energia e agora desejava mais investimentos em desenvolvimento de infra-estrutura e gostaria de receber o apoio do Banco Mundial nesse sentido. A vice-presidente do Banco Mundial, Annette Dixon, elogiou os esforços atuais do governo para fortalecer os fundamentos macroeconômicos nos últimos quatro anos e esperou que o Paquistão também mantenha o ímpeto no futuro. Ela pediu maior foco no desenvolvimento do setor agrícola e na gestão sustentável da água. A ministra Rana Afzal disse na ocasião que o comércio regional, particularmente com o Irã e o Afeganistão, poderia ajudar a aumentar os ganhos comerciais do Paquistão e que o governo estava fazendo esforços nesse sentido. A vice-presidente regional da IFC, Snezana Stoiijkovic, na ocasião, informou sobre a sua interação com empresas do setor privado em Karachi, incluindo aquelas relacionadas ao setor de energia e aos bancos. Ela disse que o Paquistão tem um setor privado vibrante e mencionou o interesse da IFC em apoiar o Banco de Infraestrutura do Paquistão. Ela disse que investimentos mais altos do setor privado contribuiriam muito para alcançar um maior crescimento econômico. O Representante do País do FMI reuniu-se com o Dr. Miftah Ismail. Sr. Tokhir N. Mirzoev, convidou assessor do primeiro-ministro das Finanças, Miftah Ismail aqui terça-feira. A delegação da PTEA reuniu-se com o Dr. Miftah Ismail. A Associação dos Exportadores Têxteis do Paquistão (PTEA), liderada pelo Sr. Shaiq Jawed, Presidente, conheceu o Dr. Miftah Ismail, Conselheiro do Primeiro Ministro das Finanças aqui na terça-feira. Altos funcionários do Ministério das Finanças estiveram presentes na reunião. O ministro das Finanças do Punjab reuniu-se com o Dr. Miftah Ismail. A ministra das Finanças do Punjab, Ayesha Ghaus Pasha, teve uma reunião com o Assessor do Primeiro Ministro das Finanças, Dr. Miftah Ismail, na sexta-feira, e discutiu assuntos financeiros relacionados ao Punjab. A Senhora Ayesha Ghaus Pasha informou o Conselheiro dos esforços de mobilização de recursos que estão sendo realizados pelo governo provincial. Ela disse que o governo da província colocou o foco em uma maior geração de receita, já que a maior disponibilidade de recursos era essencial para realizar a prestação de serviços públicos. Ela também compartilhou com o Conselheiro as principais áreas de foco do governo provincial e disse que a provisão de transferências federais em tempo hábil ajuda o governo provincial a realizar seus projetos e programas conforme o cronograma. O conselheiro Miftah Ismail apreciou os esforços de mobilização de recursos do governo provincial e disse que as províncias devem aumentar seus recursos através das receitas provinciais. Ele disse que o Governo Federal acreditava plenamente na facilitação para todas as províncias em termos de transferência imediata da participação da província nas receitas federais. O governo federal continuaria a seguir o mesmo curso no futuro, acrescentou o Dr. Miftah. Ele disse que o governo estava focado em fortalecer ainda mais a economia e fazer esforços conjuntos para alcançar a meta de crescimento para o atual ano fiscal. Ele disse que o governo apreciaria os esforços e a contribuição das províncias para a consolidação econômica. Altos funcionários do Ministério das Finanças e Finanças Deptt, Punjab participaram da reunião. Comissão paquistanesa no exterior, Punjab se reuniu com o Dr. Miftah Ismail. Uma delegação da Comissão de Paquistão no Exterior, Punjab (OPC) teve uma reunião com o conselheiro do primeiro-ministro das Finanças, o Dr. Miftah Ismail, na terça-feira. O conselheiro Miftah Ismail disse que o Paquistão tem um importante papel no desenvolvimento econômico do país e na criação de uma imagem positiva do Paquistão em seus países de residência. O governo sob a liderança do primeiro-ministro estava comprometido em tomar medidas para o bem-estar dos paquistaneses no exterior. Ele garantiu à delegação que as questões relacionadas com impostos, conforme transmitidas a ele, seriam aceitas com a FBR e toda a facilitação possível estendida aos paquistaneses do exterior. Delegação do FPCCI reuniu-se com o MoS for Finance. Uma delegação da Federação das Câmaras de Comércio e Indústria do Paquistão (FPCCI), liderada pelo presidente da FPCCI, Ghazanfar Bilour, pediu nesta segunda-feira ao ministro de Estado das Finanças, Rana Muhammad Afzal Khan. A delegação entre outros incluiu o Sr. Adeel Rauf, Atif Ikram Sheikh, Mian Shaukat, Malik Sohail Hussain, Ch. Javed Iqbal e o Sr. Karim Aziz Malik. O Ministro deu as boas-vindas à delegação expressando seu agradecimento ao apoio da comunidade empresarial aos esforços no fortalecimento da economia. Ele compartilhou com os detalhes da delegação sobre a próxima Conferência Ministerial Conjunta Pak-Saudita (JMC). Ele disse que a ocasião nos proporcionará uma oportunidade para fortalecer ainda mais a cooperação econômica e os laços comerciais entre os dois países irmãos. A delegação elogiou os esforços do governo para erradicar o flagelo do extremismo que teve um impacto positivo no ambiente geral de segurança e ajudou as empresas a florescer. O Ministro afirmou que tem sido seu maior desejo projetar as oportunidades de negócios e o potencial de investimento do Paquistão para o resto do mundo. A delegação visitante elogiou o interesse do ministro nesse sentido. A delegação desejou todo o sucesso para a próxima sessão JMC Pak-Saudita. A secretária de Estado assistente para Assuntos do Sul e Central da Ásia dos EUA convidou o assessor do PM em Finanças, Dr. Miftah Ismail. A secretária de Estado assistente para Assuntos do Sul e Central da África, Alice G. Wells, convidou o assessor do Primeiro Ministro das Finanças, Dr. Miftah Ismail, na segunda-feira. Eles discutiram o estado atual dos laços paquistaneses com ênfase particular na cooperação econômica. O conselheiro Miftah Ismail recebeu Wells e disse que tais visitas bilaterais são úteis para entender o ponto de vista de cada um. Ele disse que as relações entre os dois países foram afetadas por alguns desenvolvimentos recentes e foi importante remover as percepções errôneas. A Adviser Finance saudou as visitas planejadas das delegações de negócios dos EUA na ocasião e disse que os contatos de pessoas com pessoas são uma parte importante de um relacionamento bilateral. Ele expressou seu apoio aos esforços da comunidade empresarial para promover os laços econômicos entre os EUA e Paquistão. Ele disse que o Paquistão tem feito progressos visíveis na superação da escassez de energia, que deu um impulso aos setores produtivos do país. Isso, por sua vez, está tendo um impacto positivo nas atividades econômicas globais e o PIB está crescendo de forma constante. Alice G. Wells felicitou Miftah Ismail ao assumir suas novas responsabilidades e desejou-lhe bem em seu mandato. Ela disse que o relacionamento entre o Paquistão e os EUA é importante e que os EUA gostariam de levá-lo adiante. Ela elogiou as reformas que o Paquistão empreendeu em diferentes esferas econômicas e expressou apoio dos EUA para esforços similares de reforma no futuro. Os embaixadores do Japão pediram assessor ao primeiro-ministro em finanças. O embaixador japonês, Takashi Korai, convocou o assessor do primeiro ministro das Finanças, Miftah Ismail, na sexta-feira. No início da reunião, Takashi Korai felicitou Miftah Ismail ao assumir suas novas responsabilidades e desejou-lhe o melhor em seu mandato. O diplomata japonês elogiou os esforços do Paquistão para erradicar o flagelo do terrorismo. A Adviser Finance acolheu com satisfação o apoio técnico do Japão nas esferas de combate à lavagem de dinheiro e financiamento antiterrorista. Isso ele disse complementaria os esforços do Paquistão contra o terrorismo. O Sr. Takashi Korai compartilhou com o Conselheiro informações sobre o diálogo político de alto nível entre o Paquistão e o Japão em fevereiro, onde a cooperação nos setores industrial e agrícola seria especialmente discutida. Também houve discussão entre a Adviser Finance e Takashi Korai sobre o empoderamento dos jovens através do desenvolvimento de habilidades. A Assessora Finance nesta ocasião convocou Takashi Korai para os esforços de encorajar mais empresas japonesas a investir no Paquistão. Ele garantiu-lhe total apoio para tais esforços. Funcionários do Senor da Divisão de Finanças e Assuntos Econômicos estiveram presentes na ocasião. Embaixadores franceses chamaram o Conselheiro para o Primeiro Ministro das Finanças. O embaixador da França, Marc Barety, pediu nesta sexta-feira ao assessor do primeiro-ministro em finanças Miftah Ismail. O embaixador Marc Barety discutiu com o Conselheiro questões relativas à cooperação econômica entre os dois países, além de outros assuntos de interesse mútuo. O conselheiro Miftah Ismail disse que os dois países sempre desfrutaram de relações cordiais e que há espaço para o avanço de sua parceria econômica. Ele garantiu ao embaixador francês todo o seu apoio aos esforços destinados a reforçar a cooperação econômica bilateral. O embaixador iraniano pediu MOS para Finanças e Assuntos Econômicos. O embaixador da República Islâmica do Irã, Mehdi Honardoost, pediu ao Ministro de Estado das Finanças e Assuntos Econômicos, Rana Muhammad Afzal Khan, que discutiu assuntos de interesse bilateral. Embaixador dos Emirados Árabes Unidos convidou Assessor do Primeiro Ministro das Finanças. O embaixador dos Emirados Árabes Unidos, Hamad Obaid Ibrahim Salem Alzaabi, convidou o assessor do primeiro-ministro das Finanças, Miftah Ismail, na sexta-feira. O embaixador Hamad discutiu com o consultor questões relativas à colaboração Pak-UAE em diferentes esferas. Ele disse que há necessidade de fomentar a colaboração nos setores de saúde e educação, o que ajudaria a promover o desenvolvimento de recursos humanos. Ele também trocou opiniões com o consultor da Dubai Expo. O conselheiro Miftah Ismail garantiu ao embaixador todo o seu apoio aos esforços para fortalecer as relações entre o Paquistão e os Emirados Árabes Unidos e a cooperação geral. Ele disse que as empresas e empresários paquistaneses têm participado ativamente de exposições nos Emirados Árabes Unidos e que também participarão de tais eventos no futuro. Ele disse que a colaboração nos setores de educação e saúde era de fato importante e que o foco seria colocado nessas áreas no futuro. O Diretor do País do BM reuniu-se com o Dr. Miftah Ismail. O Diretor de País do Banco Mundial, Patchamouthou Illangovan, reuniu-se nesta quinta-feira com o Assessor do Primeiro Ministro das Finanças, Miftah Ismail, e discutiu com ele projetos e programas financiados pelo Banco Mundial em andamento e futuros. O Sr. Illangovan informou o consultor sobre a próxima visita de Annette Dixon, vice-presidente do Banco Mundial ao Paquistão, para discutir o estado atual da economia e outros assuntos relacionados. Ele também o informou sobre a visita ao Paquistão por Snezana (Nena) Stoiljkovic, vice-presidente da IFC para a Ásia. Ele compartilhou com o Programa de Conselheiros do Banco Mundial para realizar mais de um bilhão de dólares em novos projetos / programas de desenvolvimento em um futuro próximo. O Conselheiro saudou a planejada visita de Annette Dixon, dizendo que ele esperava poder conhecê-la para um discurso significativo sobre a cooperação econômica do Banco Mundial. Ele disse que a visita ajudará a melhorar o atual nível de cooperação bilateral. A Câmara de Comércio e Indústrias Pak-Afghan, delegação da APTPMA, visitou o Dr. Miftah Ismail. Uma delegação conjunta da Câmara de Comércio Pak-Afeganistão & amp; Indústrias e toda a Associação de Moinhos de Processamento Têxtil do Paquistão (APTPMA), liderada pelo Sr. Zubair Motiwala, convocaram o Assessor do Primeiro Ministro das Finanças, Dr. Miftah Ismail, na quinta-feira. Membros da Câmara de Comércio Pak-Afghan & amp; As indústrias informaram o consultor sobre as dificuldades enfrentadas devido ao dever regulatório sobre os diferentes tipos de frutas importados do Afeganistão. Eles pediram para aliviar o regime de impostos dizendo que o gesto teria um impacto positivo sobre o comércio bilateral em geral. Representantes da APTPMA na ocasião discutiram com o consultor questões relativas ao bom fornecimento de GNL a unidades de processamento têxtil a taxas idênticas às de outras áreas do país. Eles também discutiram assuntos sobre reembolso de impostos sobre vendas. O consultor Miftah Ismail assegurou aos representantes da APTPMA todo o apoio possível para resolver seus problemas. Ele disse que as questões já estão sob consideração ativa do governo e que as decisões apropriadas serão tomadas em breve. A delegação da WTTI encontrou-se com o Dr. Miftah Ismail. O assessor do primeiro-ministro das Finanças, Miftah Ismail, disse que o governo dá as boas-vindas aos investidores estrangeiros para aproveitar as oportunidades de investimento em diferentes setores no Paquistão. O consultor estava conversando com uma delegação da World Technology & amp; Trade Inc. (WTTI), que o chamou aqui na manhã de quinta-feira. A delegação foi liderada por Robert Y. Ni. A delegação informou ao Assessor que o objetivo de sua visita ao Paquistão é explorar áreas e oportunidades de investimento. A WTTI tem profundo interesse em investir em diferentes setores, incluindo mineração, exploração de recursos naturais, hidreletricidade e desenvolvimento de infraestrutura. A WTTI tem planos de criar investimentos específicos no Paquistão em um futuro próximo e eles pretendem também instalar seu escritório aqui. O consultor Miftah Ismail disse que o governo estenderia todas as facilidades possíveis em seus empreendimentos de investimento. Ele disse que o Paquistão oferece um regime de investimento liberal e que as empresas internacionais e as empresas são bem-vindas para aproveitar esse regime. O WTTI, pode ser mencionado, está incorporado na Califórnia, EUA. É uma empresa de consultoria independente e consultiva especializada em atender vários setores de negócios internacionais com interesses comerciais nos EUA, China, Canadá e muitos outros países. A WTTI contribuiu significativamente em transferências de tecnologia / equipamento, consulta & amp; operação de grandes projetos de infraestrutura globalmente, incluindo investimentos financeiros, mineração & amp; metalurgia, construção & amp; desenvolvimento, alimentação, agricultura & amp; abastecimento, engenharia portuária, aviação geral / aeronave, produtos farmacêuticos, medicação, mídia & amp; entretenimento, óleo & amp; gás, energia nova, terceirização de TI, logística & amp; distribuição. Altos funcionários da Divisão de Finanças estavam presentes na reunião. Candidato do Dr. Ishrat Paquistão para o cargo de Presidente, IMFC. O ex-governador do Banco do Estado do Paquistão, Dr. Ishrat Hussain, foi indicado como candidato do Paquistão para o cobiçado cargo de presidente do Comitê Monetário e Financeiro Internacional (IMFC). Por recomendação do Dr. Miftah Ismail, Conselheiro do Primeiro Ministro das Finanças, o Primeiro Ministro aprovou a nomeação do Dr. Ishrat Hussain, que tem vasta experiência acadêmica e profissional em assuntos monetários e financeiros. A posição do presidente IMFC pode ser mencionado, ficou vago em 01 de dezembro de 2017 após a renúncia por Augustin Carstens. Tendo em vista a importância do presidente da IMFC, o procedimento de seleção do próximo Presidente da IMFC foi iniciado imediatamente e juntamente com outros países membros do FMI, o Paquistão também foi solicitado a apresentar uma indicação à Sede do FMI. O Conselho do FMI tomará a decisão final a esse respeito com consenso. O CMFI é o mais alto órgão de formulação de políticas do FMI e é responsável por assessorar e reportar ao Conselho de Governadores do FMI sobre questões relativas à supervisão e gestão do sistema monetário e financeiro internacional. O presidente do FMI já foi anteriormente ocupado por altos funcionários de reconhecida estatura como Gordon Brown, Chanceler do Tesouro do Reino Unido, Tommaso Padoa-Schioppa, ex-ministro da Economia e Finanças da Itália, Dr. Youssef Boutros-Ghali, Ministro das Finanças do Egito, Tharman Shanmugaratnam, vice-primeiro-ministro de Cingapura e Augustin Carstens, governador do Banco de México. A delegação do PLGMEA reuniu-se com o Dr. Miftah Ismail, Conselheiro do Primeiro Ministro das Finanças. Uma delegação da Pakistan Leather Garments Manufacturers & amp; A Associação dos Exportadores (PLGMEA), liderada por Fawad Ijaz Khan, Patrono Chefe, teve uma reunião com o Assessor do Primeiro Ministro das Finanças, Miftah Ismail, na quarta-feira. A delegação discutiu com o Assessor questões relativas ao DLTL, reembolso do Imposto sobre Vendas e desconto aduaneiro em relação ao PLGMEA. A delegação solicitou a eliminação antecipada de casos relacionados a reembolso / abatimento. O conselheiro Miftah Ismail assegurou à delegação seu total apoio e disse que a questão dos reembolsos estava sob consideração ativa do Governo e sua resolução inicial era uma prioridade do Primeiro Ministro. Ele disse que a comunidade empresarial tinha um papel importante a desempenhar no fortalecimento da economia e que o governo os facilitaria de todas as formas possíveis. A facilitação dos contribuintes estava de fato entre as prioridades do atual governo, disse ele. Altos funcionários da Divisão de Finanças e da FBR também estiveram presentes na ocasião. O embaixador dos EUA chamou o assessor do primeiro-ministro de finanças. O embaixador dos Estados Unidos, David Hale, convocou o assessor do primeiro-ministro das Finanças, Dr. Miftah Ismail, na terça-feira. Durante a reunião, foram discutidos assuntos relacionados à cooperação econômica entre os EUA e Paquistão. O Sr. David Hale informou o Consultor sobre as próximas visitas ao Paquistão por parte de delegações de empresas dos EUA. Ele disse que a delegação procuraria aproveitar as enormes oportunidades de negócios no Paquistão. O Dr. Miftah Ismail disse que o governo incentiva visitas de delegação de negócios e facilitaria a visita de empresários americanos. Ele disse que a economia em crescimento está abrindo novos caminhos para investimentos e os investidores estrangeiros estão ansiosos para aumentar sua presença. Ele disse que o governo continuaria a facilitar tais iniciativas. A delegação do Grupo CITIC reuniu-se com o Assessor do PM em Finanças Dr.Miftah Ismail. A delegação visitante do CITIC, liderada pelo Sr. Zhenyi Tang Charmin CLSA, principal grupo de investimento e mercado de capitais da Ásia e subsidiária da CITIC Securities, pediu assessoria ao primeiro-ministro de Finanças, Receita e Assuntos Econômicos, Dr. Mufta Ismail, na terça-feira. O Sr. Zhenyi Tang informou ao Consultor que o CITIC é o maior conglomerado financeiro da China com empresas líderes em serviços financeiros, indústria, recursos e recursos. energia, agricultura e construção com operações em mais de 20 países da Ásia, Austrália, Europa e Estados Unidos. O presidente disse que, considerando o tremendo potencial da economia paquistanesa, a CITIC está disposta a investir em várias áreas, incluindo habitação, construção, emissão soberana e de títulos privados, agricultura e setor de energia. O Consultor apreciou o grupo CITIC pelos esforços de investimento pretendidos no Paquistão e garantiu o total apoio e cooperação do Governo do Paquistão. Ele também convidou o grupo a explorar as oportunidades de investimento no mercado de capitais, projetos de infraestrutura e possibilidades de joint ventures com parceiros paquistaneses. A delegação visitadora concordou com a proposta do assessor da PM e informou que, uma delegação de especialistas do CITIC visitaria o Paquistão em breve para discutir as áreas de cooperação com funcionários relevantes do governo do Paquistão. CPEC é o caminho para o desenvolvimento econômico: MoS for Finance. O CPEC é o caminho para o desenvolvimento econômico e a prosperidade; não só para o Paquistão e a China, mas também para toda a região. It will bring economic opportunities for different countries in the region. British High Commissioner met with Adviser to PM. British High Commissioner Thomas Drew called on Adviser to Prime Minister on Finance, Economic Affairs and Revenue, Dr. Miftah Ismail here on Friday. Mr. Najam Sethi, Chairman Pakistan Cricket Board (PCB) called on Adviser to Prime Minister. Mr. Najam Sethi, Chairman Pakistan Cricket Board (PCB) called on Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Dr. Miftah Ismail here on Friday. Miftah Ismail felicitates United Business Group, Bilour on success in FPCCI elections. Adviser to Prime Minister on Finance, Economic Affairs and Revenue, Dr. Miftah Ismail has felicitated Mr. Ghazanfar Bilour over his election as President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) for the year 2018. Chairperson CCP called on MoS for Finance. Chairperson Competition Commission of Pakistan (CCP), Vadiyya Khalil called on Minister of State for Finance and Economic Affairs, Rana Muhammad Afzal Khan here on Wednesday. World Bank Country Director met with MoS for Finance. The World Bank Country Director, Patchamuthu Illangovan along with members of his team called on Minister of State for Finance, Rana Muhammad Afzal Khan here on Friday. Strategy on cards to go after tax-evaders, growth target achievable: Minister of State for Finance and Economic Affairs. ISLAMABAD, Dec 28 (APP): State Minister for Finance, Rana Muhammad Afzal Khan Thursday said the government was devising a strategy to go after the tax-evaders and initially 10,000 people have been identified on the basis of data which would be brought under tax net from next month. He said that the number of tax return filers has also increased from 0.914 million last year to 1.14 million during the current year (2017-18), which is a positive sign. He said that due to the China Pakistan Economic Corridor (CPEC), the Foreign Direct Investment into the country has increased. Dr. Miftah assumes responsibilities as Adviser to PM on Finance. Dr. Miftah Ismail assumed responsibilities as Adviser to Prime Minister on Finance, Economic Affairs and Revenue here on Wednesday. Rana Muhammad Afzal Khan takes Oath of MoS for Finance. The President of Pakistan, on the advice of the Prime Minister appointed Rana Muhammad Afzal Khan, MNA as the Minister of State for Finance today. The Oath of Office was administered by the President Mamnoon Hussain. Rana Muhammad Afzal Khan will hold the portfolio of Finance and Economic Affairs as allocated by the Prime Minister. IMF Mission's visit to Pakistan. An International Monetary Fund (IMF) mission led by Mr. Harald Finger visited Pakistan from December 5th to 14th, 2017 for the first Post Program Monitoring (PPM) since the end of Extended Fund Facility (EFF) in September 2016. Pakistan executes US$ 1.0 billion five years Sukuk, US$ 1.5 billion ten years Eurobond transactions. The Islamic Republic of Pakistan has successfully executed US$ 1.0 billion five years Sukuk and US$ 1.5 billion ten years Eurobond transactions at a profit rate of 5.625% and 6.875% respectively. The order book for Pakistan’s sovereign papers was over US$ 8 billion. However, the Government decided to pick up only US$ 2.5 billion in order to ensure low final yields on the Sukuks and Eurobonds. This reflects the overwhelming confidence of global investors in Pakistan’s economy. It is worth mentioning that 6.875% rate for 10 year Eurobond issuance is the lowest ever rate, as no 10 year bond has ever been sold at a cheaper rate by Pakistan in international capital markets. Furthermore, Pakistan has never executed multiple tranche transactions worth US$ 2.5 billion, simultaneously. The orders were placed by numerous blue chip institutional international investors from all across the globe. About 44% of the orders were placed by investors from Europe, 24% from Asia, 20% from North America, 8% Middle East and 12% from other regions. Date extended for filing of Income Tax Returns/ Statements for Tax Year 2017. Federal Board of Revenue (FBR) has extended due date for filing of Income Tax Returns/Statements by salaried individuals, other individuals and AOPs, till 30th November, 2017. It is added that due date for filing of returns/statements of final taxation in case of companies has not been extended and remains 15th November, 2017. Extension of date for filing of Income Tax Returns / Statements for Tax Year 2017. As directed by Minister for Finance, Revenue and Economic Affairs, Senator Mohammad Ishaq Dar on Tuesday, the due date for filing of Income Tax Returns / Statements by Companies, salaried individuals, other individuals and AOPs, has been further extended till 15th November, 2017. Earlier, the due date was extended from 30th September to 31st October, 2017. Macro Economic Environment Promoting Corportization. Improvement in the macroeconomic environment of the country has led to increased incorporation of companies in FY 2017. The Security Exchange Commission of Pakistan incorporated 8286 companies in FY 2017 compared to 6200 companies in FY 2016. The incorporation of companies has seen tremendous increase of 109.24% growth during 2013-2017. This trend continued during current fiscal year as Q1 FY 2018 has seen 64% growth compared to the corresponding quarter last year. This is reflective of the reforms undertaken by the Securities and Exchange Commission of Pakistan. Standard & Poor's Affirms Pakistan's 'B/B' Ratings with Stable Outlook. The global rating agent Standard & Poor's Global Ratings (S&P) in its report on Monday affirmed Pakistan's 'B' long-term and short-term sovereign credit rating. The outlook for the long-term ratings remains stable. Affirmation of Pakistan's rating reflects that economic prospects remain favourable and external and fiscal metrics of the country will not worsen materially from their current level. Finance Minister addressed 16th CAREC Ministerial Conference in Dushanbe. Finance Minister, Senator Mohammad Ishaq Dar, participated in the 16th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference in Dushanbe, Tajikistan on Friday. CAREC 2030 Strategy. Sales Tax Refund Payment against RPOs issued up to 31st August, 2017. Finance Minister, Senator Mohammad Ishaq Dar at a meeting held in Ministry of Finance on Thursday directed Federal Board of Revenue (FBR) to issue sales tax refunds by 31st October, 2017, against Refund Payment Orders (RPO) issued up to 31st August, 2017. Finance Minister chaired a meeting to review matters related to Economic Affairs Division. Finance Minister, Senator Mohammad Ishaq Dar, chaired a meeting at the Ministry of Finance on Tuesday to review matters related to the Economic Affairs Division (EAD). Secretary EAD and senior officials of the Ministry of Finance and EAD attended the meeting. Finance Minister chaired a meeting on OGP initiative. Finance Minister, Senator Mohammad Ishaq Dar chaired a meeting at the Ministry of Finance regarding Open Government Partnership (OGP) initiative. Finance Secretary and senior officials of the Finance Division and Economic Affairs Division (EAD) attended the meeting. Finance Minister chaired a meeting with Tax Reforms Commission's Implementation Committee. Finance Minister, Senator Mohammad Ishaq Dar on Friday had a meeting with members of Tax Reforms Commission’s (TRC) Implementation Committee, discussing the way forward for further up-gradation of the tax system. Chairman of the TRC Implementation Committee, Special Assistant to the Prime Minister on Revenue, Mr. Haroon Akhtar Khan, members of the Committee and senior officers of FBR were present on the occasion. Finance Minister chaired a meeting to review performance of National Savings. Finance Minister Senator Mohammad Ishaq Dar here on Thursday chaired a meeting to review the performance and other matters related to National Savings. At the outset the Finance Minister stated that it had come to his notice that an anomaly in the tax regime had resulted in taxation of yield on Behbood Certificates and Pensioners Benefits accounts. Apparently the impact on taxation of these schemes was an unintended consequence of certain legal changes introduced in the Finance Act. He said that he has already instructed FBR to take appropriate measures to remove the anomaly. DG Zafar Masud briefed the meeting on performance of the National Savings during the last one year. The briefing covered the progress made in areas like financial inclusion through automation, introduction of new products and improving the customer service and outreach. The meeting was informed that National Savings has emerged as a formidable vehicle for financial inclusion with introduction of popular welfare oriented products and registering a large number of customers of which more than 50% were women. The efforts of National Savings are being actively supported by the World Bank and Karandaaz (DFID and Bill and Melinda Gates Foundation) through up-gradation of IT system, offering alternate delivery channels (cell phone, internet banking and ATM cards), Enterprise Resource Planning system (ERP), Business Intelligence, Data Warehouse, capacity building and training etc. He said that the efforts of National Savings in promoting financial inclusion have been lauded and recognized, not only nationally but also internationally. The reputed CFI magazine UK has recently bestowed on National Savings the award for “outstanding performance in promoting financial inclusion-2017”. The award is in fact a recognition of the progress made by National Savings in the last one year on the automation front with 2/3rd of the branches having been connected online and the offering of banking clearing services to the customers. The meeting was informed that after the successful roll out of Rs. 40,000 Premium Prize Bond (Registered), the Rs. 100,000 denomination bond is on the cards. The launch of Shuhada Families Welfare Account and extension of Behbud Saving Certificates for disabled persons is also coming up. Furthermore the Overseas Pakistanis Savings Certificates and Shariah Compliant Products are also being considered. DG National Savings further informed that for customer facilitation, SMS Service, access through social media and revamping of the institution’s website have been carried out. He said that a complaint resolution cell has been established at the DG’s Office which disposes of public complaints on daily basis. Finance Minister appreciated the achievements made by the National Savings in various areas particularly financial inclusion and customer outreach. He also praised the performance of the institution for surpassing the annual savings target. He assured his continued support to National Savings in achieving the objective of greater financial inclusion. Senior officials of the Ministry of Finance attended the meeting. Finance Minister briefed on IMF / World Bank Annual Meetings. Finance Minister, Senator Mohammad Ishaq Dar chaired a meeting at the Ministry of Finance on Wednesday and received a briefing from Governor State Bank of Pakistan (SBP), Mr. Tariq Bajwa, and Finance Secretary, Mr. Shahid Mahmood relating to participation of Pakistan’s delegation in the recently concluded Annual Meetings of the World Bank and IMF. During the briefing to the Finance Minister, Governor SBP said that the World Bank and IMF were informed by the Pakistani side that the government is focused on maintaining the economic stability achieved during the last four years, and attaining higher economic growth. He said that the measures being taken by the government to manage the current account deficit and strengthen the external account position were also conveyed during the meetings, including the Prime Minister’s Package of Incentives for Exporters and policy options being adopted to manage imports. The Finance Secretary briefed the Finance Minister on the discussions held with the World Bank during the annual event. He said that the opportunity was utilized to hold in-depth discussions on various matters such as further economic reforms as well as Bank-supported development projects. He said that the delegation also held productive meetings with ratings agencies, banks and investors on the side-lines of the Annual Meetings regarding Pakistan’s economy. Minister Dar expressed satisfaction at the participation and contribution of the Pakistani side during the Annual Meetings. He welcomed World Bank’s clarification relating to Pakistan’s external financing requirements, and said that the matter had caused unnecessary commotion. He said that the government is focused on achieving higher, sustainable and inclusive economic growth, in order to capitalize on the hard-earned macroeconomic stability of recent years. In this regard, he highlighted the strong fiscal performance during the first quarter of the current fiscal year. He stated that Pakistan’s external financing needs are at a sustainable level, and external inflows are expected to be sufficient to meet repayment obligations. Senior officials of the Ministry of Finance also attended the meeting. Finance Minister chaired a meeting to review progress on different draft laws. Finance Minister, Senator Mohammad Ishaq Dar here on Tuesday chaired a meeting to review progress on different draft laws initiated by the Ministry of Finance for enactment. Senior officials of the Ministry of Finance attended the meeting. ADB Executive Director called on Finance Minister. Asian Development Bank (ADB) Executive Director, Mr. Sami Saeed on Tuesday called on Finance Minister Senator Mohammad Ishaq Dar at the Ministry of Finance and discussed matters related to ADB’s various projects and programmes in Pakistan. Press Conference by Finance Minister - 16-10-2017. Finance Minister has expressed deep sense of sorrow and grief over the sad demise of former Chief Justice, Supreme Court, Mr. Ajmal Mian. Finance Minister, Senator Mohammad Ishaq Dar has expressed deep sense of sorrow and grief over the sad demise of former Chief Justice, Supreme Court, Mr. Ajmal Mian. In his message of condolence, the Minister said that losing a dear one in the family is indeed the most poignant time in one's life which cannot be described in. words. He prayed that May Allah rest the departed soul in peace and grant courage to the bereaved family to bear this immense loss. Finance Minister chaired a meeting to review matters related to FBR and Finance Division. Finance Minister, Senator Mohammad Ishaq Dar, chaired a meeting at the Ministry of Finance on Sunday to review matters related to the Federal Board of Revenue (FBR) and the Finance Division. Chairman FBR and senior officials of the Ministry of Finance and FBR participated in the meeting. Acting Finance Secretary briefed the Finance Minister on the progress of the various ongoing initiatives of the Ministry of Finance. He said that efforts were in hand to make sure that the strong fiscal performance of first quarter is maintained during the second quarter and beyond. Acting Finance Secretary also briefed the Minister on the estimates of gross external financing needs during the current fiscal year. He said that a recently published World Bank Report had erroneously indicated Pakistan’s gross external financing needs at US$ 31 billion for the current fiscal year. He said that the Report is based on misinterpretation of standard definition of the gross financing needs of the country. Based on the international reporting standards, Pakistan’s actual gross financing need for FY 2017-18 is estimated atUS$18 billion (5.3% of GDP) rather than $31 billion (9% of GDP). He informed the Minister that the matter has been taken up with the World Bank to rectify the error. The Minister was informed that external inflows are expected to be sufficient to meet repayment obligations. Acting Finance Secretary said that, in the first two months of current financial year, exports and remittances have improved and imports have slowed down. The Finance Minister directed the Finance Division to proactively work with the World Bank to ensure correct reporting of economic data. He also directed to ensure timely and effective implementation of the various ongoing initiatives of the Ministry. Chairman FBR briefed the Finance Minister regarding the progress in Taxpayer’s outreach programme launched by FBR on the instructions of FM for broadening of tax base. He informed that senior officers of FBR are holding workshops on e-filing of returns for members of tax bars, professional bodies and chambers of commerce and industry. Large corporate employers have been approached for ensuring filing of returns by all employees receiving taxable salary. Help desks have been established in tax offices throughout the country and FBR’s helpline and website have been revamped to facilitate return filing. Chairman FBR informed the Finance Minister that the efforts in this direction are yielding results and up to 13th October more than 352,000 returns have been received as against 162,000 returns received up to the same date last year. The Minister was further informed that specialized Broadening of Tax Base (BTB) zones will become fully operational w.e.f 1st November 2017. Finance Minister expressed his satisfaction on the progress made by FBR and stated that the last date for filing of returns was extended to 31st October, based on the genuine demands from tax professionals and trade organizations. He said that given this facilitation which has been extended to trade bodies and taxpayers, FBR should now work closely with representative bodies to ensure that returns due for the current year are filed by 31st October 2017. Government closes first quarter on strong Fiscal Performance. Finance Minister, Senator Mohammad Ishaq Dar chaired a meeting at the Ministry of Finance on Monday to review fiscal out turns of the first quarter (July to September) of current fiscal year. Finance Secretary presented provisional data on fiscal operations during the meeting, and stated that the first quarter has closed on strong fiscal performance. Signing ceremony for modern tax payment system held. Finance Minister, Senator Mohammad Ishaq Dar, witnessed signing ceremony for a modern tax payment system between the Federal Board of Revenue (FBR), State Bank of Pakistan (SBP) and 1-Link at the Ministry of Finance on Monday. The modern system will enable payment of taxes through Alternate Delivery Channels (ADCs). A Memorandum of Understanding (MoU) for launching a pilot project for payment of taxes / duties on cross border trade, and an Agreement for payment of domestic taxes were signed during the ceremony. The MoU and Agreement were signed by Governor SBP, Mr. Tariq Bajwa, Chairman FBR, Mr. Tariq Pasha, and senior representative of 1-Link, Mr.Najeeb Agrawalla. Special Assistant to Prime Minister on Revenue, Mr. Haroon Akhtar Khan was also present on the occasion. FBR registers more than 20% revenue growth. Finance Minister, Senator Mohammad Ishaq Dar, has shown his satisfaction on the provisional revenue collection figures for the quarter ended 30th September 2017, and has expressed confidence that the same trend shall continue and the entire team of the Federal Board of Revenue (FBR) would not leave any stone unturned for achievement of assigned target during the remaining part of the fiscal year. Petroleum Prices for October 2017 announced. The Government has announced the prices of petroleum products for the period starting from 1st October 2017 until midnight on 31st October 2017. New price w.e.f. 1st October 2017. MS 92 RON Petrol. High Speed Diesel (HSD) Light Diesel Oil (LDO) Finance Minister chaired a meeting to review progress of revenue collection, return filing. Minister for Finance, Revenue and Economic Affairs, Senator Mohammad Ishaq Dar chaired a meeting on Thursday at the Ministry of Finance to review the progress of revenue collection, return filing and awareness campaign undertaken by the Federal Board of Revenue (FBR). Chairman FBR, senior Members of FBR, and senior officials of the Ministry of Finance were present in the meeting. Finance Minister chaired a meeting to review progress of revenue collection. Minister for Finance, Economic Affairs and Revenue, Senator Mohammad Ishaq Dar on Wednesday chaired a high level meeting at Federal Board of Revenue (FBR) to review progress of revenue collection in the current fiscal year. Finance Minister met with President ADB. Senator Mohammad Ishaq Dar, Minister for Finance, Revenue and Economic Affairs held a meeting with Mr. Takehiko Nakao, President ADB here. Various matters related to ADB financed development projects in different sectors came under discussion. Finance Minister and President ADB also discussed matters related to various on-going ADB funded projects in Pakistan as well those in the pipeline. Finance Minister met with Finance Minister of China. Finance Minister, Senator Mohammad Ishaq Dar, held a meeting with Mr. Xiao Jie, Finance Minister of China here. The two leaders discussed various issues of mutual interest including ways and means to further enhance the bilateral economic relations. Finance Minister Ishaq Dar said that Pak-China strategic relationship is an anchor for regional peace and stability. He said that Pakistan-China friendship enjoys across-the- board political, institutional and popular support in Pakistan. He said that the bilateral relationship has further strengthened through the launch of the CPEC initiative, which will bring the two countries even closer. He congratulated Minister Jie on the inauguration of CAREC Institute and said that Pakistan would continue to actively participate in the activities of the Institue just as it had extended full support during the process of establishment of the Institute. Mr. Shohrat Zakir, Governor of Xinjiang Province called on the Finance Minister. Finance Minister Senator Mohammad Ishaq Dar arrived in Urumqi, China Thursday for attending the inaugural ceremony of the Central Asian Region Economic Cooperation (CAREC) Institute. Mr. Shohrat Zakir, Governor of Xinjiang Province called on the Finance Minister and extended him a warm welcome. He said that the friendship between China and Pakistan is time tested and the best of the relationships between any two countries of the world. The visit by the Finance Minister and his delegation to Xinjiang Province would further enhance the level of cooperation not only between the two governments but also between the people of Xinjiang and people of the bordering areas of Gilgit –Baltistan in Pakistan. He said that the establishment of CAREC Institute would provide a research and knowledge sharing platform for the people of two countries to explore new avenues of development. Finance Minister thanked the Governor for his hospitality and congratulated him for successful inauguration of the CAREC Institute. He said that Pakistan-China friendship enjoys across the board political, institutional and popular support in Pakistan that is unique and sets it apart from relationships with other countries. Xinjiang Province is contiguous with Pakistan’s Northern Areas and having historical, cultural and trade links, which needs further strengthening to declare the same as the Gateway between the two countries. He also emphasized on development of rail linkages between the bordering cities of the two countries. The Minister thanked the Governor for permission to Habib Bank Limited for opening up its branch in Urumqi. He stated that given the ever-increasing number of Pakistani businessmen engaged in trade in the province of Xinjiang, opening of a Consulate is also a priority for the Government of Pakistan. Pakistan committed to objective of regional connectivity - Finance Minister. Finance Minister Ishaq Dar has said that Pakistan is committed to the objective of regional connectivity as it believes that the future of people of the region lies in greater connectivity with each other’s markets. Clarification - Spokesman Ministry of Finance rebutted the news report "Pakistan turns down cheaper loan offer from Japan" appeared in a section of press on February 18. Pakistan's Fiscal Operations (July-December 2017) MOS for Finance Rana Muhammad Afzal Khan received Azerbaijanese counterpart. MOS for Finance Rana Muhammad Afzal Khan attended the Round Table Conference on Charter of Economy. 3-Member delegation of the Food Fortification Program, Pakistan (FFP) called on the MOS for Finance Rana Muhammad Afzal Khan. Annual Training Plan 2017-18. Tender Notice for revamping of server room and supply of IT equipment. Three member delegation of ACCA Pakistan called on the MOS for Finance Rana Muhammad Afzal Khan. Trainings/Courses/Master's Degree Program. Adviser to PM on Finance Dr. Miftah Ismail and World Bank Country Director Mr. Patchamuthu Illangovan discussed Pak-World Bank cooperation. Online Courses at IMF-Singapore Regional Training Institute (STI) Adviser to PM on Finance chaired a meeting to review progress of projects financed by development partners. Punjab Finance Minister discussed financial matters with Dr. Miftah Ismail. Federal Govt. Employees delegation discussed pay package with MOS for Finance and Economic Affairs. Master Degree Program / Training Courses. British Prime Minister's Special Representative for Afghanistan and Pakistan, Gareth Bayley met with Adviser to PM on Finance. New Prices of Petroleum Products. Nominations for the international training courses / programme offered by CIRDAP. Miftah Ismail met with visiting World Bank delegation. Public Auction Notice for Vehicles. Call for nominations for training courses at PIM. Tender Notice for purchase of Photocopiers. Mandatory Training on "E-Filing Module of E-Office Application Suite" IMF Country Representative met with Dr. Miftah Ismail. PTEA delegation met with Dr. Miftah Ismail. Finance Minister of Punjab met with Dr. Miftah Ismail. Clarification - Spokesman Ministry of Finance clarifies the news report title "CCP Chairman, Members: Appointment made without Cabinet Division's Approval" appeared in Business Recorder. Revision of Bicycle, Motor Cycle and Motor Car Advances. Training Programs Schedule for the month of February, 2018. Clarification - Spokesman Ministry of Finance clarifies a report carried by a section of the media title "Pakistan Budget Deficit increases to Rs 826 billion"

Forex pk foreign exchange rate

IGI Investment Bank launches Fund Select Portal. Karachi, January 20, 2011: IGI Investment Bank Limited has introduced "Fund Select Portal". This is a unique web based portal facilitating both corporate and retail investors with on-line access. Karachi: January 20, 2011 - IGI Investment Bank Limited has introduced " Fund Select Portal ". This is a unique web based portal facilitating both corporate and retail investors with on-line access to information concerning their investment and the industry. The announcement was made through a Press Conference in Karachi. "It is my privilege and honor to introduce the Fund Select Portal. This web portal is just another milestone we have achieved in our attempt to be the best at what we do. Reducing the burden on our work force and increasing efficiency for our clientele is the aim of this portal, thus streamlining all aspects of real time access to financial information for our clientele," highlighted Mr. Syed Javed Hassan, Managing Director and Chief Executive of IGI Investment Bank Ltd. Mr. Asif Rashid Baloch, Head of Investment Advisory speaking at the occasion said, "This is the first time in Pakistan a web based portal has been developedВ to track the investment returns of Mutual Funds for customers on a real time basis. Customers will have access to investment information such as composition of existing portfolio, return on portfolio, account statement, investment history. industry specific information and much more on Fund select Portal. Going forward we believe the same application will provide the ease and confidence to a new generation of retail investors to venture out from the traditional investment avenues such as bank deposits & NSS to a wider investment universe, where all the investments are tracked on real time basis" About IGI Investment Bank. IGI Investment Bank is a part of the IGI Financial Services Group, established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. PACRA has awarded it a long-term credit rating of 'A' and short-term rating of 'A1' which ensures a strong risk absorption capacity. For more information, please log on to igi.pk or call 0800-2-34-34. Karachi, 7 th January 2010: IGI Investment Bank Ltd., part of the IGI Financial Services Group, has recently launched a comprehensive suite of services specifically designed for the needs of its high net-worth clients. Individuals looking to invest will now have access to the resources and expertise of a financial group involved in businesses ranging from Investment Banking, Securities Brokerage, Insurance, Asset Management, etc., to provide them the best set of investment solutions from across the industry. IGI Investment Bank Ltd. has been serving corporate and individual investors for the last two decades, and is known across the industry for its integrity and reliability. As part of the expanding IGI Financial Services Group, we have created internal synergies to grow in size while remaining one of the most dynamic and flexible investment firms. This makes it possible for us to pool our expertise and create a customized strategy for every investor that comprehensively covers every aspect of their financial well being. Investors will be assigned personal Wealth Managers, and a highly experienced Investment Committee which will oversee and review investment strategies that are carefully modified to meet the unique requirements of every individual. Our clients have the opportunity to diversify into an entire portfolio of assets including Mutual Funds, Stocks, Government & Corporate Bonds, Commodities (such as Gold, Oil & Silver), Insurance, and Shariah compliant investments, all through a single point of contact. Special services are also available for clients interested in Tax Planning and the establishment of specific trusts to oversee their Estate or Charitable activities, while they may also avail both secured and unsecured credit where eligible. Raeda Latif, Head of at IGI Investment Bank, when contacted said. "We aren't interested in a quick sell; instead we utilize proven economic and financial constructs to make informed decisions, conduct business in a way that maintains our history of financial integrity, and most importantly, provide our clients with the exclusive level of service they expect". As asset markets around the globe ready themselves for the challenges of 2010, high net worth investors will recognize the value of IGI Wealth Management's proactive, well informed and strategic decision making. With personalized strategies, exemplary service, and a commitment to relationships built on trust, IGI may prove to be exactly what the market has been searching for. July 24, 2009: IGI Investment Bank, a part of the IGI Financial Services recently signed a distribution agreement with Pak-Qatar Family Takaful Limited aiming to further strengthen its portfolio by adding Family (Life) Takaful Insurance to its insurance advisory services. According to this agreement, clients would be able to secure their own and their family’s future the Islamic way through a host of Shariah compliant Takaful- Islamic insurance products offered to the Bank. IGI Investment Bank would therefore successfully be able to cater to all those clients who are seeking a Halal alternative to conventional insurance. The recently appointed CEO and Director of IGI Investment Bank, Syed Javed Hassan stated, “IGI Investment Bank aims at going that extra mile in providing its valued customers with not only the very best standards of conventional insurance products, but also with a comprehensive bouquet of Shari'ah compliant insurance products to create a greater synergy between the client’s need and the solution provided by us.” Also present on the occasion, Mr. P. Ahmed, Director and CEO of Pak-Qatar Family Takaful Limited stated, “I commend the management of IGI Investment Bank for their bold initiative to provide Family (Life) Takaful coverage to their customers. They have certainly set a precedent for other Banks to follow. Clearly, we can no longer ignore the religious values of the people and this agreement between IGI Investment Bank and Pak-Qatar Family Takaful just shows how sincerely we respect these values.” About IGI Investment Bank. IGI Investment Bank is a part of the IGI Financial Services Group, established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. PACRA has awarded it a long-term credit rating of ‘A’ and short-term rating of ‘A1’ which ensures a strong risk absorption capacity. For more information, please log on to igi.pk or call 0800-2-34-34. About Pak-Qatar Family Takaful Limited. Pak-Qatar Family Takaful Group, the pioneers of Family Takaful, is a technology-driven Shari’ah compliant company sponsored by some of the leading financial institutions from the State of Qatar. The company has a rating of ‘A-‘ (having stable outlook) from JCR-VIS Credit Co. Ltd. It has a network of 24 branches present in 14 cities and is quickly growing in its corporate and individual customer base. For more information, please log on to pakqatar.pk or call 111-TAKAFUL. IGI Investment Bank, a part of the IGI Financial Services after meeting all the necessary financial and regulatory requirements, is now effectively listed on the Islamabad Stock Exchange (ISE). IGI Investment Bank is already listed on the Karachi and Lahore Stock exchanges and by gaining a place in the ISE, it will be one of the few banks that enjoy the privilege of being listed on all the major stock exchanges of the country. In response to the listing, Mr. Samir Ahmed, Managing Director and CEO of IGI Investment Bank stated, “We were keen to maintain a presence in all stock markets in the region and by being listed on the ISE we have now opened the door for investors in Islamabad and other northern areas to trade directly in our shares. This will no doubt add depth and stability to trading on the market, especially in view of the increasing growth performance by IGI Investment Bank as the largest investment bank in Pakistan with a paid up capital of 2.1 Billion.“ In conclusion of his remarks, Mr. Samir Ahmed thanked the management and all officials of the Islamabad Stock Exchange for their cooperation and support to the Bank and expressed his confidence that such cooperation and support will continue further in the future for the benefit of all concerned. About IGI Investment Bank. IGI Investment Bank is a part of the IGI Financial Services Group, established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. PACRA has awarded it a long-term credit rating of ‘A’ and short-term rating of ‘A1’ which ensures a strong risk absorption capacity. For more information, please log on to igi.pk or call 0800-2-34-34. About the Islamabad Stock Exchange (Guarantee) Limited. The Islamabad Stock Exchange (ISE) was incorporated as a guarantee limited Company on 25th October, 1989 in Islamabad with the main object of setting up of a trading and settlement infrastructure, information system, skilled resources, accessibility and a fair and orderly market place that ranks with the best in the world. The purpose for establishment of the stock exchange in Islamabad was to cater to the needs of less developed areas of the northern part of Pakistan. April 13, 2009: IGI Investment Bank, a part of the IGI Financial Services successfully signed a bancatakaful agreement with Pak Kuwait Takaful Company Limited (PKTCL) for its upcoming insurance advisory service. According to this agreement, clients would be able to secure their future without compromising on their faith as PKTCL would offer a host of Shariah complaint general Takaful- Islamic insurance products to the Bank. Thus IGI Investment Bank would successfully be able to cater to all those clients who are seeking an alternative to conventional insurance. Present on the occasion, Mr. Samir Ahmed CEO and managing director of IGI Investment Bank stated, “IGI Investment Bank aims at going the extra mile in providing its valued customers with not only the very best standards of conventional insurance products, but also with a comprehensive bouquet of Shari'ah compliant insurance products to create a greater synergy between the client’s need and the solution provided by us.” Also present on the occasion, Mr.Imtiaz Bhatti CEO of Pak Kuwait Takaful Company Limited stated, “The Takaful way of insurance in Pakistan is greatly needed and much awaited as a significant segment of the population desire Shariah-compliance in all their financial dealings. By providing our products to IGI Investment Bank, I am confident that we are getting closer to our aim of filling the gap and introducing Shariah compliant products for the benefit of all Muslims in Pakistan” About IGI Investment Bank. IGI Investment Bank is a part of the IGI Financial Services Group, established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. PACRA has awarded it a long-term credit rating of ‘A’ and short-term rating of ‘A1’ which ensures a strong risk absorption capacity. For more information, please log on to igi.pk or call 0800-2-34-34. About Pak Kuwait Takaful Company Limited. Pak Kuwait Takaful Company Limited is a multinational joint venture partnership between Pakistan, Kuwait, Malaysia, Saudi Arabia and Sri Lanka. With an initial paid up capital of Rs. 250 million and an authorized capital of Rs. 500 million, along with the financial strength and backing of its equity partners, Pak Kuwait Takaful Limited is well-poised to launch Takaful operations in an environment of trust and reliability. March 6, 2009 (Friday): IGI Investment Bank a part of the IGI Financial Services Group and New Jubilee Life Insurance Limited (NJI Life) marked the beginning of a long lasting relationship by signing an agreement at the IGI Financial Services head office. According to the agreement, NJI Life will be joining hands with IGI Investment Bank to provide bancassurance whereby its customers will have the privilege of availing innovative and custom made life insurance products tailored by NJI Life. Present at the ceremony, Mr. Javed Ahmed the Managing Director and CEO of NJI Life stated, “We are honored to provide our life insurance services and products to the customers of IGI Investment Bank, one of the country’s leading investment banks. Being the pioneers of bancassurance in Pakistan, we are confident that we will provide the highest level of services and guidance to our new bancassurance partners- IGI Investment Bank” Also present at the ceremony, Mr. Samir Ahmed Managing Director and CEO of IGI Investment Bank said, “We have been striving to transform our bank to a one-stop financial service provider which offers solutions to a diverse range of financial requirements. Thus, by signing an agreement with NJI Life we are taking a positive step towards achieving this goal.” About IGI Investment Bank: IGI Investment Bank established in 1990 provides a host of specialized services which include finance, treasury management and mutual funds advisory has grown to become Pakistan’s largest investment bank with a paid up capital of PKR 2.1 Billion. It has also been awarded a long term credit rating of ‘A’ and ‘A1’ by the Pakistan Credit Rating Agency (PACRA). For more information, please log on to igi.pk or call 0800-2-34-34. New Jubilee Life Insurance Company Limited (NJI Life) is a subsidiary of the Aga Khan Fund for Economic Development (AKFED), Switzerland. It was incorporated in Pakistan on 29 June 1995 as a Public Limited Company under the Companies Ordinance 1984. Its shares are quoted on the Karachi Stock Exchange. IGI Investment Bank, a part of the IGI Financial Services group signed a Memorandum of Understanding with American Life Insurance Company (Pakistan) Limited - ALICO to introduce insurance and savings products for its customers. The signing ceremony took place at the IGI Financial Services head office in the presence of senior executives representing both companies. Speaking on the occasion, Mr Samir Ahmed, MD & CEO of IGI Investment Bank stated, “By joining hands with ALICO we aim to provide a complete range of financial services to our customers under one roof, and we are confident that this initiative will facilitate us in offering convenience and value-added services to our customers.” Mr. Arif Sultan Mufti, Chairman & CEO of ALICO said, ‘In a country still relatively new to the concept of bancassurance, we aim to increase its potential in a market where exposure to financial markets is still on a rise. Going into an understanding with IGI Investment Bank, we hope to create a long term relationship with them, providing our expertise in the field of insurance, whilst aiming to cater to the masses through different channels’. About IGI Investment Bank. IGI Investment Bank is a part of the IGI Financial Services Group, established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. PACRA has awarded it a long-term credit rating of ‘A’ and short-term rating of ‘A1’ which ensures a strong risk absorption capacity. For more information, please log on to igi.pk or call 0800-2-34-34. ALICO first started its operation in Pakistan in 1952 and continued till 1972 when the life insurance industry was nationalized. By 1972, ALICO had issued 72,000 policies and had invested more than US$36 million in the country’s economy. In 1994, ALICO was the first foreign life insurer to re-enter Pakistan. It commenced its operations in May 1995 with a paid-up capital of PKR 130 million which today stands at PKR 500 million. Along with commitment, ALICO brings to Pakistan an extensive international expertise and cutting edge technology being used by our operations in the most developed markets. Karachi : January 17, 2009 – The Pakistan Credit Rating Agency PACRA maintains A for long term and A1 for short term ratings for IGI Investment Bank one of the leading investment banks in Pakistan and part of IGI Financial Services Group. The rating is significant as it comes at a time when the overall industry outlook is projected negative due to turmoil in the money & capital markets and general slowing down of economic activity. The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. The ratings are independent, professional and reflect the Bank’s strong relative positioning in the field emanating from the resilience exhibited by IGI Investment Bank during the current liquidity crisis. Furthermore, these ratings are recognition of IGI’s strong risk absorption capacity, good asset quality, sound equity base and quality risk management. Mr. Samir Ahmed, CEO IGI Investment Bank, on this achievement stated, “These ratings are a result of IGI Investment Bank’s commitment to its stakeholders and excellent risk management practices adopted by the Bank. IGI has never compromised on the quality of assets and is committed to optimizing value for its shareholders. The ratings are recognition of our efforts and a source of confidence”. The rating projects prospects of various investment banks operating in the country on a stand-alone basis and give due consideration to the macro economic challenges being faced by the entire economy that led to a difficult operating environment for the industry. IGI Investment Bank continues to be one of the most professional investment banks in Pakistan. IGI Investment Bank is a part of the IGI Financial Services Group was established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. For more information please log on to igiinvestmentbank.pk or call 0800-2-34-34. IGI Investment Bank, a part of the IGI Financial Services Group, launched the variable rate deposit plan, a product linked with KIBOR offered to depositors seeking to avail flexible profit rates at different intervals during the tenure of deposit. With variable rate deposit plan, investors get the flexibility to choose the best possible profit margin, by resetting their rate of return on a monthly, quarterly, semi-annual or annual basis according to the 1M, 3M, 6M and 1Y KIBOR respectively most suited to their personal financial position. Samir Ahmed, CEO, IGI Investment Bank Limited, addressing a media round table meeting held for media members stated, “Today investors opt for secure investment avenues that ensure an attractive return in the form of a sustained stream of income. Hence, to cater to the expressed needs of investors, we have taken a step forward by designing a deposit plan that offers a variable rate of return on savings. Variable rate deposit plan is offering, investors, to derive optimum benefit from the rising KIBOR rates and thereby enhancing returns on deposits.” Established in 1990, IGI Investment Bank is a Group company of IGI Financial Services and Packages Group Limited and provides a host of specialized services designed to meet the financial needs of investors. Karachi : December 19, 2008 – The Board of Directors of the Investment Banks Association of Pakistan (IBAP) re-elected Mr. Rashid Mansur, CEO – Escorts Investment Bank Ltd, as Chairman - IBAP for the second term, in a recent meeting held in Karachi. Mr. Samir Ahmed, MD & CEO – IGI Investment Bank, a seasoned banker with 25 years experience of International Banking & Capital Markets, was elected as the Vice Chairman IBAP. Rashid Mansur is a qualified Associate of the Chartered Institute of Bankers London (ACIB). He has had 18 years of experience with HBL including ten years on overseas assignments. Other designations held include senior level positions in both Private and Public sectors such as head of an Investment Bank, Leasing Modaraba, Insurance Company, and Board of Investment and Trade, Punjab. Speaking on the issues presently facing the financial sector of Pakistan, Mr. Mansur said “Without a credible Reform Program backed by strong ‘Regulatory will’, it would not be realistic to assume that normalcy will return to our Financial Sector. & ldquo; He further emphasized the importance for all stakeholders to gather and design a major reform initiative, covering the ownership, management and governance of the Exchanges once the dust settled down. Investment Banks Association of Pakistan (IBAP) is a new wave of recently introduced phenomena of Investment Banking in Pakistan. For more information please logon to ibap.biz. Escorts Investment Bank Limited has come a long way since it was established in 1996. For more information please logon to escortsbank/ or call: 042- 637 1931-34. IGI Investment Bank is a part of the IGI Financial Services Group was established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. For more information please call 0800-2-34-34. IGI Investment Bank’s Corporate Finance Department structured, advised and successfully executed the substantial acquisition of Dawood Lawrencepur Limited (DLL). This resulted in 49% holding of DLL by Dawood Corporation respectively. This was the first time the Bank was appointed as Manager to the Offer for an acquisition engagement. The Public announcement was published in the newspaper on May 24, 2008, providing an opportunity for IGI Investment Bank to be highlighted as an active participant in the Pakistani financial markets. In a similar transaction, the Corporate Finance department also advised and structured the substantial acquisition of 49.5% of Central Insurance Company Limited (CICL) by Dawood Corporation. The Newspaper announcement can be viewed in the Business Recorder on June 7, 2008. This was a challenging transaction as various legal issues along with SECP and Insurance ordinances came into affect. The totall transaction size for both the Dawood Corporation acquisitions was approximately PKR 3.5 Billion. IGI Investment Bank’s Corporate Finance Department arranges and advises on Debt and Equity issues, including Private Placements and Public Listings. It also performs underwriting of Equity and Debt Issues, Lease and Debt Syndications, Corporate Restructurings, Mergers and Acquisitions and Divestitures. Established in 1990, IGI Investment Bank provides a range of specialized services as corporate finance, cash & treasury management, commercial financing & leasing and mutual funds advisory to meet the financial needs of investors. akistan Credit Rating Agency has awarded IGI Investment Bank a long term credit rating of ‘A’ and a short term credit rating of ‘A1’. For more information, please log on to igiinvestmentbank.pk or call 0800-2-34-34. IGI Investment Bank has announced revised profit rates for its вЂ˜Step Up Savings Plan.’ вЂ˜Step Up’-a Certificate of Deposit product allows customers to deposit their cash for the duration of their choice whilst receiving a fixed profit rate on their investment. The improved Plan will offer depositors an opportunity to invest cash for as little as one month at an annual rate of 8.50% and an annualized rate of up to 13% on a deposit of 3 years, making it one of the most competitive deposit schemes around. With the Step Up Savings Plan, investors can deposit their cash for durations of 1, 2, 3, 4 or 6 months and 1, 1.5, 2 or 3 years depending on their liquidity requirements. Profits vary according to the duration of deposit and the profit payment frequency required by the investor; monthly, quarterly, semi-annually or annually. The maximum profit that can be availed is 13% for investors depositing their cash for a period of only 3 years and receiving their profit at maturity. Raeda Latif, Head of Marketing-IGI Financial Services said, вЂ˜The Step Up Savings Plan is ideal for customers who want to deposit their money for a fixed period with the security of a known return while receiving the most competitive profit rates.” IGI Investment Bank is unique in offering such a deposit scheme which provides profit rates of up 13%. IGI Investment Bank Limited provides a range of specialized services designed to meet the financial needs of investors. Established in 1990, IGI Investment Bank provides services as corporate finance, cash & treasury management, commercial financing & leasing and mutual funds advisory. Pakistan Credit Rating Agency has awarded IGI Investment Bank a long term credit rating of вЂ˜A’ and a short term credit rating of вЂ˜A1’. For more information, please log on to igiinvestmentbank.pk or call 0800-2-34-34. Note: Rates as of Dec 01, 2007. Please click here for new rates. As the only financial institution at the event, IGI Investment Bank had an opportunity to network with key players in the plastic & packaging industry from a unique platform. The Corporate Marketing team was present at their stall to promote the leasing and lending facilities offered by the Bank. Due to the current increase in local and international demand, the plastic and packaging sector is another booming sector in Pakistan and is contributing directly to the growth, development and exports of the country. More than 200 leading names from the world’s plastic, printing, packaging and food industries also participated at the exhibition with representation of 20 countries from all across the globe. The exhibition was also given extensive media coverage by over 13 media channels and 15 representatives from print. IGI Investment Bank Ltd is one of the leading investment banks in Pakistan. It was established in 1990 and carries a long-term PACRA credit rating of ‘A’ and short-term credit rating of ‘A1’ with a listing on the Karachi and Lahore Stock Exchanges. For more information please log on to igiinvestmentbank.pk or call 0800-2-34-34. In association with the British Council & Shakespeare Association of Pakistan, IGI Investment Bank sponsored an вЂ˜Evening with Zia Mohyeddin’ for literary enthusiasts on March 18, 2008. Mr. Zia Mohyeddin, a renowned TV personality was the chief guest at the occasion where he gave a presentation on Shakespeare and how the author has significantly transformed the English language. “The author introduced a new word in every third sentence he wrote & also introduced many of the clichГ©s we are used to hearing nowadays such as вЂ˜in the heart of hearts’ & вЂ˜ wild goose chase,” said Zia who has been fond of Shakespeare from a very young age. IGI Investment Bank had the opportunity to interact with over a 100 guests; the event was well attended by CEO’s, educationists, and students all who shared a passion for Shakespeare. The Shakespeare Association of Pakistan hosts several events throughout the year to promote a literary movement in Pakistan & is a registered, non-profit literary society affiliated with the International Shakespeare Association in the United Kingdom. In the past, the association has provided support to schools, has arranged conferences and has provided translation of Shakespeare in urdu and other Pakistani languages for various events. IGI Investment Bank is participating in the 2 nd South Asian Capital Markets Conference 2008 organized by the South Asian Federation of Exchanges held in Dhaka – Bangladesh. Business delegates from all over Pakistan, India, Bangladesh, Sri lanka and Mauritius, will be present at the conference including executives representing the South Asian Stock exchanges, securities regulators, clearing companies, securities depositories, prominent commodity exchanges, stock brokers, fund managers and other securities market professionals. The conference has been organized with the objective of establishing common standards and practices in business accounting in the securities market’s; encouraging co-operation among the member countries so as to promote development in their respective securities markets; and to encourage cross-border listing and trade by adequate and fair representation of members in international forums. Mr. Aftab Chaudhry, Secretary General & Managing Director SAFE / CEO Islamabad Stock Exchange Ltd will be giving the opening address for the conference which will last for 2 days till Friday February 01, 2008. The conference will host presentations and panel discussions on pertinent topics such as Regional regulatory Models for South Asian Markets; Integration of Regional Markets and Cross-border trade; Modern Trading Products and Technological solutions; Brokerage Industry; Facilitating Agents for Cross-Border Trade; Investing in the South Asia Region and The Role of Central Bankers in the Integration of Regional Markets. Mr. Samir Ahmed, CEO of IGI Investment Bank and Mr. Syed Javed Hassan, Executive Director of IGI Investment Bank will be present at the conference. Mr. Samir Ahmed will speak on “Exploring avenues of cooperation amongst the Regional Brokerages” while Mr. Javed Hassan will participate in a panel discussion regarding “Scope for Private Equity in the South Asia Region”. The initiative for providing a platform to a wide range of capital market players under the title of “South Asian Capital Markets Conference” was taken from the SAFE conference held in 2006 in Columbo, Sri Lanka. IGI Investment Bank being a Gold Sponsor of the 2nd South Asian Markets Conference 2008 believes in promoting alliances for ‘regional co-operation’. IGI Investment Bank Ltd, a packages group company is one of the leading investment banks in Pakistan. Established in 1990, it carries a long-term PACRA credit rating of ‘A’ and short-term credit rating of ‘A1’ with a listing on the Karachi and Lahore Stock Exchanges. The occasion was attended by the officials of PEL and Investment Participants (IPs) and the investor notes were presented to the IPs. Syed Mohammed Ali Raza, Head of Corporate Finance for IGIBL, added on the occasion that the successful close of the issue was a key achievement for both PEL and IGIBL as the issue was the most competitive debt raised by PEL so far. IGIBL shall also be conducting more commercial paper issues for several other blue chip clients in the near term. IGI Investment Bank is licensed by the Securities and Exchange Commission of Pakistan to carry out Commercial Financing and Lending and Leasing Services under the NBFC Rules. Pakistan Credit Rating Agency has awarded IGI Investment Bank a long-term credit rating of ‘A’ and a short-term credit rating of ‘A1’. Established in 1990, IGI Investment Bank is part of the Packages Group of Companies serving individual consumers, small businesses and large corporations and institutions with a broad range of investment banking products and services such as Mutual Funds Distribution; Corporate Finance; Commercial Financing and Leasing; Cash and Treasury Management. For more information please log on to igiinvestmentbank.pk or call 0800-2-34-34. IGI Investment Bank at the 3 rd Annual Auto, Auto Parts and Accessories Exhibition. Local and International Auto manufacturers gathered from across the globe at the 3rd annual Auto, Auto Parts & Accessories Exhibition from December 12th to December 15th. IGI Investment Bank Ltd. was the only financial institution present at the event amongst exclusive automotive manufacturers, giving it an ideal platform to inform worldwide prospects about the bank’s leasing and lending facilities. The event was also attended by automotive entrepreneurs on both national and international levels. IGI Investment Bank offers specialized lending and leasing solutions to meet the financial needs of its clients, by providing big savings on capital outlays, preservation of available resources, maintenance of existing credit lines and tax advantages. Corporate Marketing Head, Faraz Ahmed along with his marketing team were present at the exhibition to promote the leasing and lending facilities offered by the Bank. IGI Investment Bank Ltd is one of the leading investment banks in Pakistan. It was established in 1990 and carries a long-term PACRA credit rating of вЂ˜A’ and short-term credit rating of вЂ˜A1’ with a listing on the Karachi and Lahore Stock Exchanges. IGI Investment Bank introduces the Step Up Savings Plan, a Certificate of Deposit scheme which provides Investors with the opportunity to deposit their cash for a time period of as little as one month at an annual rate of 8.25%. This is a unique offer provided only by IGI Investment Bank ensuring investors get an annualized rate of 8.25% on their investment along with the flexibility to invest their cash for the duration of their choice. The Step Up Savings plan offers investors to deposit their cash for duration of 1, 2, 3, 4 or 6 months and 1, 1.5, 2 or 3 years depending on their liquidity requirements. Profits in every category vary according to the profit payment frequency required by the investor; monthly, quarterly, semi-annually or annually. The maximum profit that can be availed is 11% for investors depositing their cash for a period of only 3 years and receiving their profit annually. The Step Up Savings Plan has been developed as a result of increasing demand for a flexible Deposit Scheme making it ideal for all types of investors, ranging from corporations, high net-worths and real estate dealers to sole proprietors, salaried individuals and housewives. IGI Investment Bank is licensed by the Securities and Exchange Commission of Pakistan to carry out Commercial Financing and Lending and Leasing Services under the NBFC Rules. Pakistan Credit Rating Agency has awarded IGI Investment Bank a long-term credit rating of ‘A’ and a short-term credit rating of ‘A1’. Established in 1990, IGI Investment Bank is part of the Packages Group of Companies. For more information please log on to igiinvestmentbank.pk or call 0800-2-34-34. IGI Fund Select Mall Event. In continuation with its objective to increase awareness about mutual funds, IGI Fund Select is conducting activities throughout various malls in Karachi. Starting on the weekend of November 16th, the Fund Select team will have kiosks at ‘The Forum’ for two weekends and then ‘Park Towers’ for two weekends thereafter to interact with mall shoppers and to promote their mutual funds advisory service. “The objective of the activity is to have direct contact with customers who are interested in investing and saving for their future. We will help them plan, decide, and execute their investment decisions to meet their financial objectives at no additional cost.” said Ambereen Israr, Head of Fund Select. Along with receiving investment advice, customers will be able to enter a lucky draw contest and win prizes during the event. Fund Select is IGI Investment Bank’s mutual fund advisory service which started operations in June 2006 and has come a long way in providing education and awareness of mutual funds to investors. It has managed to attract over Rs. 15 billion in investments from both retail and institutional clients since its launch. The company offers a range of tailor-made investment strategies based upon clients’ objectives and financial needs to give them the attractive returns, risk minimization, diversification, tax benefits, convenience and liquidity through personalized solutions. Fund Select is a division of IGI Investment Bank, a Packages Group company. For more information, please log on to igi.pk or call toll free on 0800-2-3434. IGI Investment Bank – Mobilizing Investment in the Mutual Fund Industry. IGI Investment Bank’s mutual funds advisory service “Fund Select” has contributed greatly to the mobilization of funds in the mutual fund Industry. At a time when awareness of mutual funds is largely uncommon, Fund Select has managed to attract investments of over Rs.10 billion into various open-end funds in a period of one year since its launch in June 2006. Licensed by SECP to undertake Investment Finance Services, Fund Select offers a range of tailor-made investment strategies for its clients based upon their objectives and financial needs. Fund Select employs a highly professional and dedicated team with extensive international and domestic experience in debt and equity markets. The distribution network comprises of over 15 asset management companies, with over 40 funds making Fund Select a truly one-stop-shop-solution for all investment needs. The Head of Fund Select at IGI Investment Bank, Ambereen Israr said: “Our goal is to provide institutions and individuals with a mutual funds advisory service and to help them plan, decide, and execute their investment decisions to meet their financial objectives at no extra cost.” Fund Select has come a long way in creating awareness and informing people of the many benefits mutual funds have to offer - attractive returns, risk minimization, diversification, tax benefits, convenience and liquidity through personalized solutions with high service standards in the mutual funds industry. Fund Select is a division of IGI Investment Bank, a Packages group company. For more information, please log on to igi.pk or call toll free on 0800-2-3434. IGI Financial Services at the Dawn life style. IGI Financial Services participated in the Dawn Lifestyle Exhibition 2007 held on the 22nd, 23rd and 24th June 2007 at the Karachi Expo Center. The participating organizations were IGI Investment Bank Ltd, IGI Insurance Ltd, and IGI Securities with their respective brands (Fund Select, Travel, Fire, Marine, Auto Insurance and I-Trade). This was the seventh successful year for the “All about Lifestyles” Exhibition in which companies belonging to different arenas gathered to display & promote their services. The ambience was that of a gala full of people, music, games; the turn out like every year was substantial and the dedication of our team at the IGI Financial Services stall made the event a success for us. IGI Financial Services is a dynamic family of diversified companies belonging to the Packages Group that provides investment banking, insurance, asset management and full service brokerage in stocks and securities to a variety of customers nationwide. You can call us toll free at 0800-23434 to speak to our representative. Tax Credit on Investing in Mutual Funds. The amount of tax credit can be calculated in the following way: Determine the amount on which you may be entitled to receive the tax rebate. It will be either of the following, whichever is lower: The Actual amount of Investment 10% of your taxable annual income, or Rs. 200,000 Identify the average tax rate for your annual taxable income as per the Income Tax Ordinance 2001. Aqui está um exemplo. Let's say the total annual taxable income is Rs. 1,800,000 and invested amount is Rs. 500,000 in Mutual Funds. Assuming that the average rate of tax applicable on the annual taxable income is 15%, the schedule below shows the amount of tax credit that will be received: Total Annual Taxable Income. Average rate of tax* Amount Invested in Mutual Funds. Selection of amount on which Tax Credit is allowed : Amount of Tax Credit. Amount invested = Rs. 500,000. 10 % of Taxable income = Rs. 180,000 15% x 180,000 = 27,000. Maximum amount = Rs. 200,000. Since Rs. 180,000 is the lower of the three amounts, tax credit will be given on this amount. According to the above illustration, the investor will be entitled to a tax credit of Rs. 27,000 (i.e. the investor will pay less tax by this amount) which will be an added benefit on top of the return that will be made on the Mutual Fund Investment. The procedure for claiming the tax credit is simple and easy. The investor has to present a copy of the account statement of the investment in Mutual Funds at the time of filing of tax returns. investments made in mutual funds before 30th June 2007 shall be eligible for claiming tax credit for the year ending 30th June 2007 and in order to avail tax rebate under Section 62 of the Income Tax Ordinance 2001, you are required to hold your investment for one year. Please feel free to contact your Fund Select Investment Advisor or call us toll free at 0800-23434. First Ever Return Guarantee product developed by IGI Investment Bank for. IGI Investment Bank now offers a first of its kind Return Guarantee product in the form of Put Option. Put Options on mutual funds is a new concept in Pakistan. A Put Option gives the holder the right but not the obligation to sell mutual funds at a fixed price on or before a given date. Through this Put Option customers can fix an interest rate today on an open-end mutual fund for the cash investments they will receive in future. IGI Investment Bank shall be offering this option for NAFA Cash Fund and KASB Liquid Fund, NAFA and KASB are the main players in the mutual funds industry in Pakistan. The potential clients for this product are government institutions, financial institutions, insurance companies, private sector companies and individuals. IGI Investment Bank is one of the country's leading investment banks. It is a joint venture of the International Finance Corporation (IFC) and Packages Group (PG), which also includes International General Insurance – IGI, a major shareholder in IGI Investment Bank Insurance. IGI Investment Bank is serving individual consumers, small businesses and large corporations and institutions with a broad range of investment banking products and services, including Portfolio Management; Mutual Funds Distribution; Corporate Finance; Commercial Financing and Leasing; Cash and Treasury Management. First International Investment Bank Limited (INTERBANK) and Karachi Electric Supply Corporation Limited (KESC) have teamed up to sign an agreement, according to which INTERBANK’s Fund Select Advisory will operate as the investment advisor for KESC Provident Fund. The Pakistan Credit Rating Agency (PACRA) has assigned a rating of ‘A+’ (Single A plus) to the proposed secured TFC issue of PKR 500mln by First International Investment Bank Limited (INTERBANK). The rating indicates a low expectation of credit risk and a strong capacity for timely payment of financial commitments. First International Investment Bank Limited (INTERBANK) has introduced Fund Select; this is a special open-end Mutual Funds Advisory Service for corporate and retail investors. The announcement was made on July 20, 2006 at a Press Conference held in Sheraton Hotel Karachi, which was attended by senior managers from Asset Management Companies and Financial Institutions; Media Representatives; INTERBANK Management and Mutual Funds Distribution team. INTERBANK takes the lead as an investment bank to represent approximately 25 open funds in Pakistan. During the soft launch, this service received a tremendous response from both corporate and retail customers. First International Investment Bank Limited (INTERBANK) is issuing rated, secured and listed Term Finance Certificates (TFCs) of PKR 500mln during the current year. The announcement was publicized in the Abridged Prospectus published on June 30, 2006 in Business Recorder and Nawa-e-Waqt. The instrument will be secured by way of first parri passu charge on present and future assets of the bank with a 25% margin. The Bank intends to utilize the proceeds of the TFCs to establish its asset management business, strengthen the brokerage function and further expand the investment portfolio. INTERBANK and Royal Rodale Sports & Recreational Complex have teamed up to sign an agreement, according to which the Consumer Financing Division at INTERBANK will provide Membership Fee Financing facility to prospective members of Royal Rodale. Systems Limited is one of Pakistan’s pioneering Information Technology firms with a strong market presence, since its inception in 1977. The company has also manifested itself strongly in the international market and currently generates nearly USD 7.50 million in revenue. First International Investment Bank Limited (INTERBANK) - one of the leading investment banks in the country - has successfully acquired 100% shares of Finex Securities Limited. The strategic acquisition of Finex Securities offers complimentary distribution strength and expanded market coverage to INTERBANK in the financial markets. Established in 1990, INTERBANK has played a pioneering role in the Pakistani financial markets by advising and arranging the first public floatation of corporate bonds, the first issue of corporate commercial paper, and the first bankers’ acceptance program in the country. Finex Securities, with more than one decade of presence in the financial markets has always been in the forefront in equity, money market and forex broking business in Pakistan. Finex’s key strength is the in-depth knowledge and expertise of its employees in their respective business areas and its blue-chip client-base. INTERBANK and SYSMAX (PVT) LTD. have teamed up to sign an agreement according to which INTERBANK will provide Membership Fee Financing facility to prospective DA Country & Golf Club members. Questrade Review. I recently switched our investment accounts to Questrade (thanks to Million Dollar Journey’s referral and review) and thought I would add my two cents on my experience so far. To be honest, I was attracted to Questrade by their ultra-low commissions. Questrade has two commission plans: you can either opt for the flat $9.95 plan or if you usually transact less than 1000 shares, you could opt for the cheaper $4.95 plan. As I only buy stocks like VTI (trading at around $145), VEA (trading around $48) and some of the Canadian blue chip companies, I would typically be paying only $4.95 for making a trade. Comissões baixas. $4.95 per trade is very attractive considering that I was paying $29 at the big bank brokerage. Opening an account was straightforward and intuitive. Transferring securities and cash in-kind was smooth. Questrade offers live help via chat that is very useful if you work with computers in a cubicle. You can get your queries answered while working instead of waiting on the phone for a customer rep. I have been able to get help whenever I needed it and almost always the issues have been resolved. The 1% fee charged on foreign exchange transactions is comparable to major competitors. As the broker’s target audience seem to be traders and not investors, there is a learning curve involved in using the trading platform. Questrade does not offer EFT transfer for US dollar funds. To move US dollar funds you have to write a cheque that takes as long as 20 days to clear or request a cheque and then make a visit to your bank to deposit it. It is a mystery why Questrade cannot offer EFT transfers when E*Trade does. When you open an account with Questrade, you will have to remember three passwords: one each for MyQuestrade (for adding, withdrawing, exchanging funds, requesting help etc.), WebTrader (the trading platform) and Penson Financial (for accessing account history etc.). If you are willing to put up with some quirks, Questrade’s low commissions might make a switch worthwhile if you are paying $29 at your current broker. You may also want to check out the reviews of other discount brokers: BMO InvestorLine, Credential Direct, Qtrade, RBC Direct, Scotia Direct and TD Waterhouse. [Update: Frustrated with Questrade’s customer service representatives, who couldn’t promptly fix an error on their part, I moved out of Questrade in a few months.] This article has 214 comments. Thanks for the link back CC. I’m glad that you’re enjoying Questrade thus far. I didn’t know about the USD transfer issue, perhaps they’ll fix that in the future. I was also surprised to find that conversions from $CDN are not made automatically in order to settle $US purchases. Since I had no $US balance, my purchase of a US stock was treated as a margin transaction and I had to struggle with the interface to figure out how to move the money once I discovered it. Hmm… I recently opened a Questrade account and moved money into it, but I have yet to execute my first trade. I’m still waiting for things to keep falling… I think the recent actions by the BoC to stabilize the market will only temporarily stop the fall. I believe that everything will now continue to “drift” down as opposed to a dramatic collapse as the yen carry trade continues to unwind. Mark: I had trouble figuring that out also. You have to go into MyQuestrade, transfer funds from CAD to USD and then buy some US dollar shares. It was all confusing because I am used to simply pointing to the account you want money taken from or put into. the broker’s target audience seem to be traders. you have to write a cheque that takes as long as 20 days to clear. Those two things seem to be contredictory. I’m not surprised that lower commissions would be particularly appealing to people who trade a lot, but I’m shocked that it can take three weeks to have cash clear. I mean, how much has the market changed in the last three weeks? GIV: To be fair, Questrade does allow sending funds via certified cheque or wire transfer, but they all cost money and negate the advantage of low commissions somewhat. I do hope they will have a EFT facility soon. CC, I also have accounts with Questrade – one RRSP and one non-RSP which I have yet to fund. I do agree that the trading platform is not as user friendly as other brokers but it is quick and gets the job done. If you don’t want or need hand holding, then it is a good pick. Thank you for your review of Questrade. I would like to comment briefly on the Cons: 1. We have platforms for traders as well as investors. The WebTrader platform is a very intuitive platform and the learning curve should not be more than 30 minutes. The more sophisticated platforms, Axis and CyberTrader, will take longer to learn. There are, however, manuals for both of these platforms available that help shorten the learning curve. We are also working on some tutorials that should be available soon. 2. You can withdraw US or Canadian funds via an EFT. This feature is accessible via myQuestrade on the Withdraw Funds page. We can send the US and Canadian dollars directly in your bank account. For depositing US dollars the EFT option is not available. This is a limitation of the Canadian banking system and not Questrade. If the banks would allow US dollar bill payments, Questrade would accept them. Canadian dollars can be deposited via an EFT (online bill payment), both Canadian and US dollars are available via a Wire Transfer. Again due to the banking system, uncertified Personal cheques are also accepted but they take 21 business days to clear. We have had several instances where cheques have bounced more than 2 weeks after deposit and as a result we are forced to institute this policy. Certified cheques and bank drafts are accepted with no delay. If you have Canadian funds and would like to trade in US markets, I would suggest depositing Canadian dollars in your Questrade account and exchange the currency to US after that is done. This is significantly faster and most likely more effective than exchanging the currency at your bank. 3. I do agree with you that remembering 3 sets of login info may be a bit overwhelming. Security was our main concern when we designed the process. 3 sets of login information are less likely to fall into the wrong hands at the same time. We are, however, working on this as well, and it should be resolved soon. Eu espero que isso ajude. I encourage anyone who has any other questions or comments, (good or bad) to post them on this blog or contact me directly. I will make sure all the questions are answered promptly. Furthermore, please check out tradingacademy/canada if you would like to learn how to trade professionally. Good luck trading, Client Acquisitions Supervisor. Phone: (416) 227-9876 ext.380. Toll Free: 1-888-783-7866 ext.380. Fax: (416) 227-0078. Questrade Inc. | 5650 Yonge Street, Suite 1700, Toronto, ON M2M 4G3. Trade Stocks for $4.95. Emil: Thank you for the comments. I don’t understand why transferring US funds from and to a USD Bank account is a problem for you but not for E*Trade. I have personally moved money from my E*Trade account into my RBC US dollar chequing account many times in the past using their free EFT service. The money appears in my account in a couple of days. So, it definitely can’t be a limitation of Canadian banking system. I apologize for not explaining it properly. If you want to withdraw US dollars you can make a request on our side and we can electronically send the US funds to your bank account. If your bank allows you to pay a bill online to Questrade, then you should be able to deposit funds into your Questrade account as well. I hope this helps! Client Acquisitions Supervisor. Phone: (416) 227-9876 ext.380. Toll Free: 1-888-783-7866 ext.380. Fax: (416) 227-0078. Questrade Inc. | 5650 Yonge Street, Suite 1700, Toronto, ON M2M 4G3. Trade Stocks for $4.95. I found the conversion process for purchasing US ETF confusing as well. Thankfully I was using the simulator and I didn’t end up purchasing on margin. Emil can you reconfirm the steps needed to purchase a US ETF like Vanguard? From what I gather now it seems you.: 1. Transfer money from a current bank account (via cheque, transfer) to my Questrade Account. 2. In the Questrade system, convert the CDN cash to a US equivalent. 3. Login to WebTrader, and in WebTrader submit my execution order to purchase a US ETF.? Isso está correto? I just checked at Scotiabank and Questrade is available as a ‘bill payee’ so I assume one would be able to transfer US$ from a US$ directly to Questrade. ooops. Meant to say. …’transfer US$ from a US$ account directly to Questrade.’ Earl: Your steps are correct. I followed the exact same steps in my recent purchase of VEA. Emil: My Royal Bank USD account also has a bill pay feature. Would I be able to use that feature to transfer USD from my bank account into Questrade USD account? I am going to try sending a small amount anyway to see how it works. AJ: I checked with Royal Bank and they offer bill pay too. I am going to try and see if it works. On their site, they say the following: & # 8220; 1. BILL PAYMENT VIA INTERNET BANKING: Electronic Bill Payment via Internet Banking using the ‘Pay Bills’ function at most banks. Direct deposits can only be made in CAD funds. Simply choose ‘Questrade Inc’ as the payee, reference your Questrade account number provided and ‘pay’ the funds directly to your Questrade account.” It seems to clearly say CAD funds only. I have sent Questrade an email asking for clarification. Maybe Emil can answer. Just got my answer back. “If your bank allows USD bill payments then you are able to fund it in USD and the US side of your account will get credited. However, the fastest method will be by wire in which your bank will most probably charge you for.” So it looks like your test should work. I’d like to fist clarify the difference between an ETF and an EFT: ETF – Exchange Traded Fund – As the name suggests, these are funds that are traded on a stock exchange. These are traded exactly the same way as stocks. You’d enter the symbol of the ETF, the quantity (# of shares/units), price, and click “BUY”. EFT – Electronic Fund Transfer – It is used interchangeably with Online Bill Payment. This is the way to deposit and withdraw funds into and from your Questrade account. The reason why we say in the website that the Bill Payment Option is available in CAD only is because the banks do not allow USD EFTs. C.C., please let me know if you are able to move USDs online from your USD bank account into your Questrade account. We’ll need to update the website right away. Client Acquisitions Supervisor. Phone: (416) 227-9876 ext.380. Toll Free: 1-888-783-7866 ext.380. Fax: (416) 227-0078. Questrade Inc. | 5650 Yonge Street, Suite 1700, Toronto, ON M2M 4G3. Trade Stocks for $4.95. Emil: I didn’t know EFT is the same as Online Bill Payment. It is incorrect to say that banks do not allow USD EFTs. I have an account with E*Trade through work and I have sent money to and fro my Royal Bank USD Chequing account many times. So, at the very least EFT works with Royal Bank’s USD accounts. Emil: I *cannot* send USD funds to Questrade. RBC’s bill pay insists on converting USD into CAD funds before sending. I still can’t understand why EFT in USD funds is possible for E*Trade Canada but not Questrade. The 20 business days holding period for cheques is far too long. I sent a cheque on 9/Aug, it was cleared at my bank of 15/Aug and it is unacceptable that the funds won’t be available in my account until September. Sometimes, a month’s worth of lost interest payments will wipe out any savings on commissions. E-trade might be working like a bank. For example, ING direct can transfer USD from/to external US dollar account in Canada. I am surprised to hear that “EFT is the same as Online Bill Payment.” Based on my experience with E*trade, EFT is a service/function provided by brokerage firm E*trade, and I simply ETF while logging into my E*trade account. Bill payment, I believe, is the function provided by the bank, has nothing to do with the brokerage firm. Ann’s comment looks quite reasonable. To clarify, Bill Payments and EFTs are essentially the same technology used by the banks. EFTs must be initiated by the owner of the account and as such the funds are being “pushed” out of the account by the account holder. As we have said and CC has verified, banks will not allow you to initiate a payment in USD to a payee and this continues to be a limitation of the banking system and not Questrade. We have looked into what is being referred to in this discussion as EFTs in USD at E-Trade. What in fact is happening is that USD funds are being “pulled” out of client accounts using a pre-authorized payment (PAP) form. This is a process initiated by E-Trade and not by the account holder. Settlement date for these transactions is T+1 for major banks (includes HSBC), T+2 days for some banks such as PC Financial (because they flow through CIBC) and T+3 days for most credit unions. It will not show in your brokerage account for one additional day due to processing time. In response to the comments in this forum Questrade is setting up this service now and will be rolling it out shortly. This will allow Questrade to “pull” USD from client accounts upon receiving their authorization to do so. Questrade continues to offer EFT payments in USD into client accounts. Please contact me with any further questions. Client Acquisitions Supervisor. Phone: (416) 227-9876 ext.380. Toll Free: 1-888-783-7866 ext.380. Fax: (416) 227-0078. Questrade Inc. | 5650 Yonge Street, Suite 1700, Toronto, ON M2M 4G3. Trade Stocks for $4.95. Emil: It is nice to hear that Questrade will be rolling out a EFT transfer for USD accounts. In my view, it will address the biggest issue with Questrade. The QuestraderPro trading platform is the worst trading platform I have ever used. Questrade needs to get their act together and offer a more powerful trading platform to their clients. I pretty much won’t be trading until a better trading platform is released. Obrigado por seus comentários. Questrade welcomes positive as well as negative feedback. We have thousands of clients that trade on the QuestraderPro platform. All of them are quite satisfied with it. I would appreciate it very much if you could provide me with the reasons why you do not like the platform. It would be very helpful if you could comment on the features that your ideal trading platform would have. We will try to accommodate as many of your requests as possible when we are ready to offer a third trading platform. Client Acquisitions Supervisor. Phone: (416) 227-9876 ext.380. Toll Free: 1-888-783-7866 ext.380. Fax: (416) 227-0078. Questrade Inc. | 5650 Yonge Street, Suite 1700, Toronto, ON M2M 4G3. Trade Stocks for $4.95. Hi Mr.Emil , i’ve a client for questrade for over a year now , i’ve used cybertrader pro , in May i took a break (contract compromise) from trading and i was returning this september , sadly i’ve read they have switched the cybertrader pro to the new questraderpro , i agree with Mr.Frank , although i dont believe its the worst platform , i believe that for an active trader it lacks certain requirements that are crucial , specially for scalpers or day traders, although i believe its a very strong plataform with great potential , the following remarks should be taken into consideration: & # 8211; 4 charts max (In today’s market its crucial for a trader to watch several indices and stocks at the same time , not to mention overall market trend , 4 charts is just not enough , now my 2 of my 3 screens are not doing anything) -multiple order box should be allow as well, for scalpers its crucial that they react fast with the market ,changing symbols in only 1 order entry box is not fast enough . I really appreciate questrade, and i’ve been told they are looking for a more complete platform soon , i believe questrade is by far the canadian stock broker leading company , i hope they do something soon about it , in the meantime i will be using questraderpro just to submit my entries but using quotetracker as my technical platform. Obrigado pelo seu feedback valioso. I forwarded your e-mail to the team in charge of evaluating the new platform. All the points will be considered when choosing the CyberTrader replacement. I will let you know about the features of the new platform as soon as we make a decision. At this point, the team is still evaluating a few of them. I appreciate your good words about Questrade. Good luck trading, Client Acquisitions Supervisor. Phone: (416) 227-9876 ext.380. Toll Free: 1-888-783-7866 ext.380. Fax: (416) 227-0078. Questrade Inc. | 5650 Yonge Street, Suite 1700, Toronto, ON M2M 4G3. Trade Stocks for $4.95. To add to Pablo Corzo. 1. Where is the Manual for QuestraderPro? 2. This Java based program is sluggish on slower machines. 3.The Virtual Trailing Stop (VTSO) doesn’t seem to always work. 4.Needs smart route orders like CybertraderPro. I would see a price on the inside ask, and I try to buy it at that price using the Route AUTO, but I would not get filled. 5.Needs to be able to draw support, resistance, and other trend lines on the graphs. These are just basic tools for technical analysis. 6.The Account box needs to display my actual funds, not just my buying power. 7.I only see 3 prices on the bid and ask.(This is level 1 quote for QuestraderPro?) 8.Short selling takes extremely long! “Pending… Pending… REJECTED!” If your going to accept or reject the short selling order, just make it faster. 9.There one simple thing I hate about the login screen. It doesn’t save your user name! I have to type my dam user name every dam time I login. 10. I think thats all there is to hate about this Platform. The only feature I like about questraderPro is that you can change the background color of each of your window. I just opened an account with Questrade last week. As I was familiarizing myself with the trading platform I found that I had been set up on what appeared to be a different and more expensive platform than I had signed up for. Luckily, there is a live chat function for help. Unfortunately, the individual I chatted with was unable to assist me and referred me to his manager that I subsequently had to call to rectify the problem. The manager explained to me that it was too late to switch platforms and that I would be charged regardless, period. He said his records showed that I had chosen the more expensive platform. It didn’t seem to matter that I just opened the account and I alerted Questrade to the discrepancy immediately. I am unimpressed by the way Questrade poorly treats new customers. Unfortunately, I found the manager somewhat condescending and patronizing. Today, after a week with Questrade, I found out that the platform has been changed to the cheaper one that I originally wanted, yet I am still being charged for the more expensive platform for the entire month. The manager did say that with discount brokers you get what you pay for… In my case, you pay for what you don’t get. My advise to others: STAY AWAY FROM QUESTRADE! There are other, better discount brokers out there. Richard: You may want to contact Emil from Questrade about your problem. Like I mentioned in a recent post, I am frustrated with Questrade as well. Has questrade implemtend EFT for USD? (Pull from your USD account at a bank) Alex: Not to my knowledge. To fund your USD account quicker, just follow the steps I outlined in another post: I recently left Questrade, for 2 reason: 1) On multiple occasions they were unable to fulfill my OTCBB Orders, even though they were market orders and friends w/other discount brokers filled market orders the same day no problem. Resulting in me missing on a literally thousands of dollars of capital gains. 2) On multiple occasions I submitted requests for deposits/withdrawals, and it took unnecessarily long time to fill (in some cases, requiring me to call them up to “remind” them that the request was sent. I’m going to try Interactive Brokers next, as I’ve heard good things about them. Anyone know anything about ib? There are multiple order routes for OTCBB trades. I’m guessing you left the route as “Auto”? Please contact me directly with your account number and your e-mail address. I will look into the reasons for the delay and get back to you with a detailed explanation. Client Acquisitions Supervisor. Phone: (416) 227-9876 ext.380. Toll Free: 1-888-783-7866 ext.380. Fax: (416) 227-0078. Questrade Inc. | 5650 Yonge Street, Suite 1700, Toronto, ON M2M 4G3. Trade Stocks for $4.95. I signed up with Questrade a few weeks ago, and so far it has been ok, but I just phoned customer service for the first time and they were painfully unprofessional. I have been using the demo account for access to live level II data and then simply making trades on my actual account. The website clearly states that if you make a certain number of trades you can have access to level II data free (40 trades per month). I intend to trade frequently so I wanted to sign up, but the option to add data services was nowhere to be found in MyQuestrade. I tried the online support and they told me that I had to phone Questrade to activate it. When I got in touch with a CSR, the guy I spoke to had no clue what I was talking about. He insisted that since I had signed up for Questrader Web with Quotestream, that I had access to all the level II data. I tried explaining to him repeatedly that they were optional packages, but he couldn’t understand that in any way. He insisted that my account did have Level II. I told him that the demo had what I was looking for, live level II, but not my actual trading account. Then he seemed to think that I was confusing the demo with the actual trading account. He even made me doubt myself to the point that I opened quotestream in my account and tried to access level II data and it gave the message “Level II market depth not available in delayed” so then I knew for certain. It’s amazing that the CSRs can know less about the company’s services than the clients. At the end of the phonecall he told me he had signed me up for the services, but he never even convinced me that he knew what I wanted. I guess I’ll wait and see if anything happens. I’m an undergrad student in Finanace, and I appreciate Questrade for being the only company that is affordable enough to provide even a student with the opportunity trade. Otherwise there would be no chance for me to to actually apply what I learn in school on the markets. I have had several strange experiences with this company, but this one really topped the charts. I’ve been a client for a couple weeks now so I’m starting to wonder what will happen next… Anyway, I guess you get what you pay for.. . I apologize for the misunderstanding about your data levels. Just to confirm, we did resolve the issue exactly as you requested – in fact, the client service specialist made the correction the same day the two of you spoke. Also, I appreciate the feedback you’ve given us here. I encourage everyone to let us know what we are doing right – and wrong. We are constantly trying to improve and we cannot do that without your help. Client Acquisitions Supervisor. Phone: (416) 227-9876 ext.380. Toll Free: 1-888-783-7866 ext.380. Fax: (416) 227-0078. Questrade Inc. | 5650 Yonge Street, Suite 1700, Toronto, ON M2M 4G3. My wife and I were just about to courier to Questrader our application this morning. I had already made the funds transfer as well but that has also been stopped. My wife placed a simple phone call to the head office in Toronto to inquire about how transfers were setup this morning. The gentleman on the other line was very short with her and could not wait to get her off the phone. He also explained we would be paying $20 per stock/fund purchase which was news to me. The website application was also fairly confusing in selecting services as well so even if we did choose this fee I do not recall anywhere in that form where this was indicated. If this is how your company treats people at the START of the relationship process – I can only imagine how worse things will get. Can anyone else recommend a good broker Canada side? Jason: I understand your frustration. I personally have experienced Questrade’s less-than-stellar (to put it mildly) customer service. If you have more than $100K in assets you may want to consider TD Waterhouse. I’m with them and fairly happy about it. I am a new user of Questrade. Over the years I have traded with BMO Investorline and TD Waterhouse. I am very happy with Questrade so far. I have used the live help chat a couple times and both times they resolved my issue right away. Like another poster, I also had the problem wherein I had signed up for LevelII but it didn’t show up on my account. He had it working within two hours of my online chat with him. I do have a question for the forum though. I have never used Trailing Stop Loss Orders. I believe I understand the concept well enough, but…with Questrade when entering a VTSO, what number exactly am I entering? a percentage? the price compared to what I bought? or the price compared to what it’s worth at last close? Obrigado pela ajuda. Looks like we’re forced to use WT or QtPro in a matter of weeks. Tried both of them. QTPRoNot comparable to CyberTrader, especially the charting. These platforms practically force me to buy charts from another party. As for WT, what other charting program in the world offers 5 daily candles for a 5-day chart? Por favor! that should have intraday data as well, NOT daily. Why is there no straddle layout for puts/calls? Who wants to view one OR the other only? QTPro charts don’t permit trendline drawing, from what I can see. Just as well, since anything more than a 1 day chart requires horizontal scrolling, thereby making an overview of the last few days impossible. By the way, folks at QT, regarding MACD: pretty much all vendors permit MACD Ma/trigger line/histogram. They don’t force people to choose between histogram or MA, and don’t try to make the histogram substitute for the MA line. As for all the complaints about requests not being done in a timely mannery, or without reminders, that’s an old story. Been with QT for years, and not improving any. This forced imposition of the new platforms may be what I need to move to IB. The decision on their part to charge for currency conversions (figure out what it will cost to flip your entire account back and forth if you have to do that to stay out of a depreciationg currency like the USD when you trade US equities/options exclusively, and you’ll see that it adds up, even at ‘only’ 1%. Particulary galling in view of the fact that Penson used to do it for next to nothing. Also, conversions not automatic after a trade. Oh, and: scalpers won’t be happy with the lack of tick charts. Cyber has these, but apparently QTPro does NOT. I’ve been a Questrade customer for about 7 months now, and I have been experiencing several discrepancies between their PENSON Online system (which keeps track of all the financial details of your account) and their QuestradeWeb (their trading platform). One problem I’ve been experiencing is that they charged me about 1 week worth of interest $62 on $50,000 when I only had the position for approximately 3 hours within the same trading day. They are not a bad company, their LIVE HELP reps TRY to be helpful but are not always successful. Their $4.95/per trade is very attractive but if they continue to have huge discrepancies like the ones I’ve been experiencing, that will start outweighing the cheaper trade pricing very quickly. I have read this entire blog of people not happy, I can understand where everyone is coming from. I recently downloaded Qtrader Pro. For the recorded, I am a Microsoft Certifed IT Professional and work in the Auto Finance field. I downloaded the software, installed it and tried to log onto the system as a demo account, I was first prompted by an immediate update. The program stalled at 12 percent and then up can a third window saying installing update 1 of 1. After a few pots of coffee it still sat at “Zero” percent. I assumed they were having a technical problem and gave up. 6 hours later I tried again, exact same issue. I send off an email and a screen shot picture of my desktop and decided to wait for a response. I did look into the issue myself and I know how to fix it, if I don’t get the correct response with the correct answer. It will show me how incompetent there support department is. Staring at a screen that shows a “Zero” only leads me to believe they pay their employees the same amount. $4.95 is cheap, if I need to make a trade now. I would be will to pay 100 times that amount. I will let you all know how long it takes for a response and what the outcome is. I had very rough start with QT (actually, was not able to start). It seems that these folks at QT do not honor their own application guidelines. My wife tried to open an account online a month ago. She went through all the requirements and sent all the necessary documents. That’s where the fun started. They requested extra documents (not required according to their sign-up procedures). When you fax those extra documents they tend to lose them. They requested an EFT for $5 as a proof of identity. Now it turns out that this is not enough for them. In fact, they need full details of the relinquishing financial institution by fax. What about those $5 that have already been paid? The guy said he does not know how to pay them back… Am I dreaming or what? Is this how we do business in Canada? If so, then we suck big time. A month later, I am $5 short and my wife does not have an account yet. What is more troubling is the thought of what these guys could do to sensitive info that I have sent to them. I just hope that my case is idiosyncratic as opposed to normal. In any case, this is unacceptable as far as I am concerned. My application for an account with Questrade was delayed (could even be refused eventually). The reason is that my signature on the acceptance does not match that on my driver’s licence. They ask me to re-sign the document and re-send the doc. I sure can do that. But I cannot guarantee that my second signature will be the same as that on my driver’s licence. This sounds weired. The licence may be signed years ago, your hand may be shaking when the weather was hot, the pen may be too big or small, the scanning machine may ignore the light ink, and most important, you may have changed your signature! Can anybody gurantee that the signature will be the same. I never have had any problem with my signature. Fully frustrated. They already have my SIN, bank info, date of birth, driver’s licence, phone number,email etc, what else other than going to their office physically I can submit to prove that I AM THE GUY who signed the doc and who is on the licence? I am leaving in western, not in Toronto, man! By the way, their email system seems to have problem. They claimed they sent email to me regarding my signature days back, but I never recevied it. Then I asked them in the LiveChat to send me again, they said they did. But I still had not received any email. This would confirm their suspect that I may not be the person who had signed the document. I am very frustrated. Do not use questrade. I had an account with them and their system made too many errors. Cost me more than what I would have paid in commission with any other brokers, and cost me close to 20% of my equity account. I did not receive a cent from their operational errors. One of their answers for an error was that I should have called them to place a trade instead of doing it in the online system. How I would know?? When in the system showed that the transaction was done! To ZT, if you lost money because someone stole your identity or forged your signature wouldnt you be the first person to blame the brokerage? Don’t you know how much identity theft is out there these days?? I opened two accounts with Questrade back in November 2007 so far things have been good . except i was told i would be paid the closing out fee from my other broker accounts . This has not been done yet. Keith – You are referring to our account transfer promotion. You became eligible for the rebate three months after your account was fully funded. As you opened your account at the end of November, this means the end of February. I asked our back office team as to your rebate status and it is in the queue. It should be posted this week. Please note that this promo expired on March 1st. All accounts that are in process and referenced the promotional code will still qualify. looking for a service oriented company – then take a look at shirtoffourback.ca campaign by TradeFreedom. I have been a client for 5 years and like the model of a designated account manager they offer – something that is now copied by other online brokers. They also offer an Elitye client status kinda of like the Presidents Account TD has. And I don’t have to worry about any trade minimums to get a low commisison rate. Could someone from Questrade explain the reason that $5 and a blank check must be sent to open an account. I am not comfortable providing authority to anyone, to access my bank account and withdraw funds without my permission. Secondly, Is $5 a charge for opening an account with Questrade?. Vincent…You open a aouunt with questrade. You then use your online banking to send them a “bill payment”. To setup a bill payment type in or select “questrade” as the payee and then put your 6-digit account number. Simples. I sent $1000 the very first time. You don’t have to worry about questrade fraudulantly taking money out of your account. Your first initial deposit takes 1-2 weeks. Any deposits after that take from 1-2 business days to transfer. Espero que isto ajude. P.S. If you decide to send $5 only via bill-payment, it will be deposited to your questrade account. I don’t think they just keep it. After that you will need to send the other $995 to get started. I was just wondering if anyone else has issues with theie system freezing when using QuestraderPro. I was a user of Cybertrader and the system worked fine. When we were forced to swith, my quotes periodically freeze, my systems CPU is constantly maxed because the viewer is taking all of the juice, and occasionally the system takes minutes before recoginzing a purchase or sale request. I have the same issues on both my home and work computers, so I know it is not a problem on my end. I have also used ameritrade and have tried the Sterling demo and it both these cases I also did not have any issues. Any comments ?? I heard they were working on something which was suppose to be out in Jan, but as of yet I have heard or seen nothing. What does Questrade charge to exchange $CAD to $U.S? I have a U.S bank account, therefore wouldn’t it cost me less. to send a U.S bank draft? Currently I have a TD bank account and a TD Waterhouse account which I just set up. The only thing I am disappointed with for TD is the $29 per trade… everything else is stellar.. account setup time, no other fee’s, easy and convient access and transfers since I have a TD bank account etc… Is there any advantage of switching to Questrade or another discount brokerage to get the lower commission rates ? I have between 2,000-4,000 to invest, and I do want to play with making some short investments. Im just worried that the lower commissions really wont be worth it in the end when you consider the extra fee’s associated with using another brokerage for US stocks (transfers, currency exchange, extra fees). If only TD had a lower price then $29 a trade… would be perfect. If you already have USD, it’s probably best to send us a Certified Cheque or a Bank Draft. If you need to exchange currency, it will be more economical for you to exchange it in your Questrade account. With Questrade you can transfer funds electronically from your bank account just as easily. You can make a bill payment and in 1-4 business days the funds will be in your Questrade account. You can withdraw funds electronically as well. Keep in mind that Questrade is competitive not only in commissions, but also in other fees such as exchange fees. Please review our “Pricing” section on our website and you’ll discover that we are very competitive indeed. New Accounts Supervisor. Phone: (416) 227-9876 ext.380. Toll Free: 1-888-783-7866 ext.380. Fax: (416) 227-0078. Questrade Inc. | 5650 Yonge Street, Suite 1700, Toronto, ON M2M 4G3. Trade Stocks for $4.95. Ranked # 1 for both Fees and Customer Satisfaction – The Globe & Enviar. DO NOT use Questrade. I have had nothing but poor service, silly responses to issues. Been using them for over a year, and I cannot even get my equities transferred cleanly to another company. It has been over a month, the paperwork was flawless, according to the new group, and still Questrade is unresponsive and unprofessional. From safe-keeping charges that they do not know how to eliminate, to poor annual reporting, Questrade seems to lack any depth in customer service. They never respond in a timely manner, if they respond at all. Dan: I’ve had my shares of issues with Questrade but when I did request a transfer, it was executed smoothly. My recommendation is to contact Emil; I’m sure he’ll sort out any issues you have. Dan – we attempted to sort this out however I gather “Dan Baker” is a pseudonym. Can you please email your co-ordinates to me and I will forward them to the senior client service representative in charge of your file. He will follow up with you personally. Communications Manager, Questrade. Has Questrade implemented their “pull” of USD yet? It has been almost 10 months since Emil announced they were working on it. Is there any canadian bank that allows bill payment in USD? I am struggling for the last 4 months to try and get an account transferred into Questrade which was presumable suppose to take 3 weeks. It’s nothing weird (well at least I don’t think it’s weird) it’s a RSP savings account (note savings account, cash only, no holdings) at TD. So here is a synopsis: Feb 2008 mail in request for transfer of the account. Three week later I contact them to determine what happened to my transfer. I am informed that they have not received any forms from me. After some deliberation it appeared on some person’s desk. (Lesson one: always courier forms to Queatrade so you have proof when they received the forms). Three weeks later (so now 6 weeks after the mail in) I call again and I am informed that Questrade is still processing the request. Some more deliberation and a promise the forms will be sent to TD ASAP. Call again 3 weeks later (12 weeks) and low and behold the forms were not sent (lesson two: follow up frequency of a week or less) call the next day yes, the forms is sent to TD. Finalmente. Mid May I receive a statement from TD showing the account was closed. So mid June I called and asked where the transfer is, they promise to investigate and call back, never called back, so week later i follow up again, another promise to call back which they never did, so now i am reaaaaaaly starting to worry that these guy have no clue where my money is! Tomorrow going to call again to follow up but have very little hope. So for July, I plan to take time off from work, go to their offices and will not leave until somebody can explain where my money is. Lesson 3: Trading systems works as expected for the price you pay but your own sanity DON’T TRANFER AN ACCOUNT! Jake: Try contacting Emil Vojkollari or Lynn Suderman. I’ve been frustrated with Questrade myself (see posts elsewhere on the blog) and Emil took care of it. I have been reading about Questrade through the Globe & Mail web and am interested in opening an account. Do you have another email site that I can ask a few questions etc.? Or a live talk ‘phone? On the Contact Us page of our website, all the details about getting in touch are listed. There is also a link to Live Help, for instant online chat with a client services specialist. Thought I’d share my experience with Questrade with everyone. Was warned about the bad customer service but decided to go with them anyways because of the low fees and decent platform. Had a problem with a Pre-Auth Deposit due to my own error, called Customer Service mulitple times. On two occassions the Customer Service Rep said they would call me back but didn’t. It took 2 weeks and numerous follow ups on my part for them to identify the issue and another week after I corrected my error to resolve the problem. As a customer I do not get the feeling that I am of value to them. After the 1st issue was resolve I ran into a second issue regarding their 30 Free Trade Promotion. They said that I did not input the promo code during registration, I am positive that I did enter the code but unfortunately it’s my word against theirs. I signed up for the account on July 28th and received a confirmation from them but they tried to tell me that because the platform was not activated until August I was past the deadline. The promotion page of the website only says “Sign Up” and does not mention anything about “Platform Activation”. They say that they are investigating this issue and I am not sure when they will get back to me. I will definitely post the outcome once they do. Fees and Platform – Boa. Atendimento ao Cliente & # 8211; Poor. Questrade’s 30 free trades promotion is a scam. Make sure you have proof that you entered the promo code or they will claim you didn’t and not give you the free trades. I agree that fees are low but customer service is slow and if your looking for customer statisfaction you will not find it here. This is a Company that would risk their reputation for a potential savings of $148.50. Consider this before you sign up. Questrade is full of scams and has very poor customer service. I have opened an account in my daughters name after referring her to take advantage of their referral program. I checked with them before opening of account if I am eleigible for the referral amount. After they said yes I opened the account. Now when I ask for the referral amount they say that referral can not stay at the same address. My advise to everybody is keep yourself away from Questrade. Can anyone from Questrade has any answer to solve my problem and resolve the issue. I see it in plain sight? ^ refer a person with a unique residence who has not previously opened an account or traded with Questrade. Can someone explain in plain english how the VTSO orders should be entered? I placed them on several positions and they were not executed costing me thousands of bucks. I am writing this to urging people think twice when you select Questrade because their commissions are low. Safety of your money and the reliability of the trading system is a much bigger concern. I have an RRSP account with Questrade which holds both US and CA currencies (about 10K each). I bought 500 XLF at USD 19.75 on Sept 29 (1:14PM). I called Questrade right after the trade, Cleveland (the rep) guaranteed me there would be no currency conversion because I have enough US fund (I also called before the trade and get the same guarantee, but I did not wrote down the rep’s name). In the morning of Sept 30, I looked the account and seemed ok. In the afternoon of same day, I sold the 500 XLF at 20.05 USD at 3:58PM. This morning (Oct 1) when I checked the account again, I found I have negative CAD balance and my US seemed have more fund than it should. I also found an unauthorized transaction at midnight (00:00:00) Sept 30. So I called Questrade again at 10:15AM, Bryan (the rep) told me their system had some problem especially with RRSP accounts. I reported the incident and he admitted Questrade made a mistake and he would report to their credit department to reverse back my CA fund. He seemed apologetic and promised call me back. I told him Questrade had 24 hours to make the reversal and I would request compensation otherwise. Here was what I found from my message board after the conversation: “10/01/2008 08:35:06 —- We are currently experiencing some difficulties with Buying Power amounts displayed on some accounts. We are aware of the issue and working on the resolution. We are sorry for any inconvenience this may cause, and appreciate your patience. If you require any assistance please contact us at 1.888.QUEST.66 (783.7866).” I did not get any call whole day. I checked my account again at 6:50PM and the mistake was not corrected. So I called Questrade again and a rep named Balak answered me (after I held phone for 20 minutes). He showed no apology, only told me their finance department were off and he could only talk to them tomorrow morning. I was not happy of his tone, so I asked to talk to his supervisor or manager. He said none was available and that was the end of the conversation. I am worried about my fund. I am also disappointed the way Questrade handles their mistakes. I will call Questrade first thing tomorrow. I’ll keep posting. I do not recommend this broker at all even if the commisions were $0. Customer service is almost non existent and run by very rude and incompetent people. System platform is unreliable and servers always going down. They will not take any responsibility for it and show they don’t care at all if you leave them. They actually tell you what do you expect for $4.95 a trade. So far their incomptence and unreliability has cost me thousands of dollars, a hell of a lot more then any savings I would ever accumulate in commisions. They are competely unreliable and I am planning on transfering out of there as fast as possible! Here is why you should not use Questrade: 1. Questrade don’t have their own back office, Penson Financial Services Canada Inc is their back office, which means they have no control of the money movement. So if there any problems with any transactions, you call Questrade (and that’s the only way), then Questrade contact Penson. This can go back and forth multiple times, which explains why dealing your requests takes so long. 2. Their trading platform is not reliable. As a trader, timing is everything. Imagine their platform crashes when you are executing an order, or you must sell certain stocks/options immediately. No doubt their commission is one of the lowest in Canada, but you have to put the safety of your money and the reliability of the platform on top priorities. Checked my account again in the morning of Oct 6, the numbers are still wrong. Called the Questrade three times at 10:40AM, 4:15PM and 8PM and wanted to talk to their manager, all three Reps promised would let the manager call me back. Nobody called me until now (and now they are closed at 8:30PM). It seems to me they really drive me to IIROC. Total numbers of calling Questrade for this matter: 12, and counting. I’ll post any new development. I have a question for the questrade account holders. I recently sold off ALL my positions in this market we are in, hoping to hold on to what I have left. This was around Sept 17, 2008. I’ve been checking my balances everyday and noticed it decline when markets are down and go up when markets are up. About a month later I’ve lost about $1300 when I haven’t done any trades at all. I doubt fee’s can surmount to $1300 when I haven’t done any trades. Is this normal, is this happening to any of you? If you only hold CND, then check balance not position. CND is down dramatically recently, compare to USD. Call their support if you are still not sure. Obrigado pela resposta. I have no positions. I’m looking at the balances column (intersection that says CAD (Combined)** and Cash Balance). My market value is zero since i’ve sold my positions and hold no stocks. My total equity is equal to my cash balance. But that balance is decreasing as described in my previous post. Also, this my stock trading account not a FOREX account. It’s down another. $150 today for no reason at all. Haven’t done any trades or anything at all. Doesn’t make sense to me. Then you better call them ASAP. Have you registered on Pension (online.penson )? Pension is their back-office (see my comments #82), you can check your cash history there. But you have to register pension from myquestrade. Calling their custom support is not a happy experience, so be prepared and persistent. Huy: I don’t have a Questrade account any more. Why don’t you call and check with them? I know that personally I’d rather visit my dentist than talk to Questrade Customer Support but if you don’t get results, I suggest contacting Emil or Lynn. You can find their contact information in previous comments. Espero que isto ajude. “I’ve been checking my balances everyday and noticed it decline when markets are down and go up when markets are up.” Obviously, your “cash” balance is tied to something in the market. Keep in mind that a bunch of people had their accounts hacked on Thanksgiving day. Maybe your account was also compromised by the hacker. Always maintain a dynamic password. Regarding the display of cash balances: your balance does not fluctuate with the market. What could fluctuate is the purchasing power as displayed in another currency. I suspect you are looking at either a combined USD and CAD cash balance or at the maintenance excess/buying power. If you have CAD in your account, you would see USD combined cash balance and USD BP fluctuating with changes in the exchange rate. I hope this helps! Please contact our client services department if you’d like more details. I am very pleased with E*Trade, USA . Cash docking in my account has the interest. Money is insured by FDIC. Company financial report is free(many of them). What’s about the Canadian version of E*Trade ? Well my pseudonym should kind of signal what I’m going to say! DO NOT UNDER ANY CIRCUMSTANCES GIVE YOUR MONEY TO QUESTRADE. I don’t know who Lynn is or who Emil is but if a company only has one or two people that can address your issues and the rest of their staff are a bunch of useless incompetent idiots then you’re best going somewhere else. Their live chat agents don’t know their elbow from their … if you ask to escalate an issue and talk to someone else…the someone else is conveniently “not available” or “will not take customer calls” in fact the actual quote is “they don’t take client calls” So if you want to withdraw money from Questrade the listed times of 2 to 3 days are probably what someone in their fantasy land thought of…you don’t get your money…I still haven’t. I am going to close my account with Questrade because I believe they are not trust worthy. Here is my story. Questrade has a promotion program, if the customer refers to a new customer, both of them are eligible for a promotion bonus. for stock account, it is $50 (some times they say $100), and for FX account, it is $300. My friend has been the customer of Questrade for years, he refered to me, and I got two confirming emails from Questrade. one says if I open a stock account with them and fund $1000, each of us will get $50 bonus, the other one says if I open a FX account with them, and fund $5000, each of us will get $300 bonus, I do want to trade stocks and foreign currencies, then I did so. The first thing happened after made me know that Questrade is not organized properly. the fund didn’t show up after I have founded $5000 to my FX account for ten days throuth ETF, so I had to contact them to get it done. The second thing happened made me believe Questrade is not trust worthy. Almost after 1/2 month after I founded my stock account and FX account, the $50(or $100) and $300 promotion bonus can’t be seen, so I contacted Questrade, I was told that I have to be refered by a customer to be eligible for the fund, I told them I did, but they said they can’t find the record, so I forwarded them the confirming emails which were sent by Questrade, then they said I have to fund $1000 USD (stock account) and $5000 USD (for FX account) instead of CAD (their confirming emails say $1000 and $5000, there is no currency, so I thought it is in CAD since we are in Canada, and Questrade is a canadian company), I said ok, how much more do I need to fund to be eligible for the promotion fund, then no response. today, I got a call from them (his name is Bob), I was told that my friend has both stock account and FX account with them, but he funded the stock account only, and he didn’t fund the FX account, so I am not eligible for the FX promotion, I said nobody told me before that he has to fund the FX account to become eligible to refer to a friend, and why Questrade sent me the email and said I am eligible for the promotion funds? (here is the email from Questrade: You were recently referred to Questrade by your xxx. As soon as you open and fund a forex account with $2,500, you and xxx will both receive a $150 cash bonus. If you fund your account with $5,000, your cash bonus increases to $300.) Bob said those emails were generated by their system automaticaly, that means they are not responsible for the emails which sent to the customers by their system. now not only the $300, but also the $100($50) are still in the air. Finally I guess that I am in a trap, Questrade uses a bait to hook you up, then they take the bait away. I don’t know what will happen in the future if I keep funding my account, I want to get rid of Questrade and keep my money safe. VTSO. VTSO. VTSO. VTSO. VTSO. Please explain what does the Questrade takes as the parameter on their Stop Limit editbox. VTSO. VTSO VTSO VTSO VTSO VTSO VTSO. I also wish I had seen all these comments before joining questrade, I am an amateur to trading but there are certain things common logic can judge. I have contacted questrader about the problem I have, all I was looking for is an explanation but it seems when I brought up the info they chose to ignore me so I am going to post on every website to search for the answer. I contacted them concerning a change of name from PNHL holdings to GTLA. After they gave me GTLA shares at an average of 0.20 when the high was 0.17 on the day of trade. This is the exact email and reply sent. As per our conversation, your account has been reviewed and we can confirm that your account has been properly updated. The terms of the corporate action that saw PNHL simply change symbols and name to GTLA (GT Legend Automotive), was that each share of PNHL was exchanged for 0.0005 shares of GTLA. At the time your account was holding 4,929718 shares of PNHL which were converted to 2465 shares of GTLA. The average price for the GTLA shares has been set to $0.20 based on an average price of $0.0001 for your PNHL shares. The prices are not official and are for display. It is your responsibility to know what price you have paid for your PNHL shares and what price your GTLA shares should be valued at. Please contact us if you have any further inquiries. Client Services Specialist. Phone: (416) 227-9876. Toll Free: 1-888-783-7866 ext.421. Fax: (416) 227-0078. hello, I thought the trade was supposed to be 1 pnhl for 0.005 shares of GTLA since even if it was just an exchange, the GTLA on that day was 0.02 , can you check that for me please Wednesday nov 26 which was the day of the “change in name” , this is the chart from historical prices Google finance, as you can see it opened at 0.02 that day and wouldn’t change to 0.17 until after the name change is effective, that is a dramatic jump that can only be influenced by such an occasion, also if the high of the day was 0.17 why was my average purchase price even above that. If I am to calculate from the 0.02 opening price, since the name change should take place at the opening of the market to begin trading immediately I should have had 24648 shares… that is $0.0001 per pnhl divided by $0.02 per GTLA, giving 1 pnhl for every 0.005 GTLA therefore dividing 4929718 by 0.005 giving 24648, I think the error in you calculations came in the placement of the decimal place, the price of GTLA was 0.02 not 0.20. I will really appreciate it, if the experienced traders will let me know where I stand in this situation, now even if I was wrong I would never in my life recommend this excuse of a trading website to anyone, not even an enemy. My experiences with them begun with a VTSO placed for a penny stock worth 0.82, I knew it was a risky trade and asked the limit to be 0.80, the stock dropped to 0.20 in about 2 days, I am not actively managing my account, I return and find out I lost about $300 so I contacted customer service, what I was told was that they do not advice the use of VTSO with penny stocks because sometimes their system fails to execute the trade, something along those lines, I was basically 1 month into trading at that time so thinking it was my own stupidity not finding out how well vtso works with penny stocks before placing it I left the matter, now a few months later speaking to the same Nicholas above about some other matter I asked about the vtso since it popped into my mind, just to find out if the answer I received previously was the common held notion, His excuse or reply I should call it was, I told the system to execute the trade if the price dropped 0.80 instead of 0.02, now I recall distinctly that the other representative went over the trade and confirmed that I did everything right…I then told him to check the chat between myself and the other representative to confirm it, his reply was since the trade was done 6 months ago the chat was deleted from record and their risk department cannot do anything about it now given the period of time, then he just closed the chat window without even awaiting my reply. I learnt my lesson, so from now on any conversation I have with them I save, and I have hard copies of their rudeness and ineptness. question to CC or others who used to have account with Questrade, I am new to this blog. I plan to open a RRSP and TFST account with one of the discount brokers and I don’t have over $100,000 assets and don’t want to pay $29.95 for commission. I like Questrade for their low fees and I’m thinking of opening accounts with them. Now I have doubts about it since there’s so many negative comments about them. I have the following questions for CC or other traders who used to deal with QT and would like to shed some lights. 1) how easy to open an account? For example, once I EFT Canadian Dollars to a QT RRSP account, how soon can I start to trade? 2) how easy to close the account and move all funds out of QT? Is it pretty quick? I see there’s a $25/$125 for partial and full transfer for registered account. How much is their account closure fee? I’m currently comparing QT with E*Trade Canada. E*Trade’s $9.95 commission if you have assets over $50,000 seems not that outrageous, but I heard their exchange fee between currencies is pretty high. If someone can give me some suggestions, it would really be appreciated. Obrigado. @jfernandez: I don’t have an account with Questrade anymore. I recall that opening an account was easy and transferring out was smooth as well. It’s what came in between that turned me off Questrade and unless there is evidence that they can do the small things right, I’m never going back. E*Trade’s currency fees were horrendous but I don’t know if it is better now. You’ll have to weigh whether their lower commissions are worth the higher currency fee. It will depend on the volume of your trading transactions versus your currency conversions. @shawn: As noted elsewhere, I gave Questrade a shot and transferred out my account. I’d rather not deal with the headache. @erlin: Try contacting Lynn or Emil and ask them to look into your case. It’s frustrating, that’s for sure. In short, DO NOT USE QUESTRADE. Aqui está o porquê: 1. The website is structured horribly, it looks and feels cheap. There’s no common sense used; when you review your order it doesn’t even tell you the total purchase price (you have to get out a calculator to see what $32.15 x 75 is); also, the website doesn’t tell you how much commission you’re paying and I don’t trust these guys. 2. The client support is horrible. With no storefronts, you’d figure they’d at least invest the minimum amount in phone staff, but these people are useless. And you have to wait everytime to get a hold of someone. 3. With the amount of discount brokerages being started, Questrade is pretty much the worst option you can find. I’m transferring asap. I also have had several bad dealings with Questrade. 1. They did a margin call one day, sending me an email at literally 4 pm asking me to satisfy my margin call. By the time I read it at about 5 pm I check my accounts and they have all been liquidated, ending up with me owing them money. The account was liquidated at 11:30 AM, I was sent an email at 4 pm. They charged me 30 dollars per transaction for broker assisted trades resulting in $400 dollars in fees. They originally refused to give me a referral credit for enrolling my brother, which was not written anywhere, or indicated in the referral process that you cannot refer your family members (he lives 2500 kms away). The multiple logins are annoying and not user friendly, especially penson services which are completely backasswards. You cannot simply view a transaction summary with related balances. It is on several different screens using DOS style query lines. The trades are cheap, and the free webtrader platform isn’t horrible, however the routing is awful. Several times my trades sat in limbo while others were feasting away at the profits. All of the reports are garbage except the profit / loss report. The livechat is convenient, however I have yet to receive any kind of reliable information from a rep on the live chat. On my second communication, the rep tells me I have roughly $500 left after the margin call. The next day I owed them 70 dollars and to this day have not received an explanation as to why I was informed of that. When I told them I had referred people, they did not have any record of it. It’s a poorly run organization from a customer service perspective, administratively flawed, with poor tools, however, they offer a free platform with cheap trades. Weigh your options. I know exactly what you mean. I tried to open an account online and had nothing but problems so I faxed all my documents except for the cheque, then to speed up the proccess I sent everything by courier. I was told it would take 2-3 days to be approved yeah right more like 2-3 weeks. I give it a week then I talk to an agent on chat cause you can’t get through on the phone and ask what the status of my account is. They tell me they have’nt recieved the documents yet. This goes on for a few days meanwhile the stocks I’ve been watching have 12+% gains but my account is still not open. Finally they say ok we did get your documents and we will try to speed up the approval process. I give it till the next week to allow them their so called 2-3 day BS. So again having to do the chat thing they tell me they have’nt recieved them, by this point I’m ready to lose it. I ask to speak to a manager and am told that I am, he says that he can understand my frustration but can’t open my account until I send them the documents AGAIN because THEY MISFILED them and could’nt find them. I said I allready paid $20 once to get them there and it’s your screwup why should I have to pay again. His response was you can send them regular mail and then asked if there was anything else I he could help me with, upon hearing that I hung up. I read all the negative comments on million dollar journey and now here and gave them the benefit of the doubt IDIOT. All I have to say in closing is the comments have a lot of validity as I experienced it firsthand from rude incompetent chat agents telling me they never recieved my documents when they had to whomever was the STUPID @!@#$ IDIOT that missfiled (another word for lost) my application. I will be looking for someone else even if it cost a little more and I strongly suggest you do the same. I was thinking of changing from TD to either Qtrade or IB. The main problem I had with TD is they abruptly reduced the margin loan value on my stocks from 70% to 25% even though both stocks were well above 5$. They said something like they had low volume and were volatile even though both had a beta of only around 1.5 and traded more than 2% of the float per day. You can say what you want about bad service and computer glitches but at least Qtrade isn’t arbitrarily droping the margin loan percentage by a huge factor for no particular reason and putting their customers into incredibly difficult margin calls. TD is the worst broker now in my opinion for people that use a margin account. I’m willing to put up with a few computer and service glitches so I won’t be worried about TD pulling the rug out from underneath of you at any moment. For cash or RSP account TD is OK, but I would never invest on margin with them. avoid this company at all cost, close your account and run from this fraud organization.4.95 is just not worth the pain, im fine with paying 19.95 for something reliable.. QT whats a waste of life. their Level 1 support is a bunch of low level brain dead monkeys with ADD who cant even add who get yelled at by rude managers. broken platform that dosnt add up right,, i kept every trade on excel spread sheet. everytime there was a mistake i called they had to escalate 2 weeks before a manager fix was made. theres 3 interfaces that dont show clear valid information it’s meant to confuse you. they scam people who simply dont keep records and for those that do its weeks before they fix anything. its plain and simply its weeks for just about anything, something as simple as putting funds into your account… and even than they can reach into your accounts to make conversations at their own discretion. they messed up my tax slip… bottom line is it’s best to avoid this company, go for TD or a reputable organization. not worth the headaque. i do cash with TD and it works fine, adds up right etc…at least their platform is stable and works right. I haven’t had any problem with Questrade so far. The time between application and activation of the account was 1 week. Funding transfers were also fast for me. I will keep records of my trades just in case of a mixup though. I think potential margin account customers of TD and Questrade need to consider what is worse. Random unjustified margin calls that can literally cost you 20% or more of your portfolio or a few headaches that may cost you a bit of time and 100’s of dollars. Questrade even offers margin rates on stocks down to $1.5 whereas many brokers give nothing below $3. Questrade may not be perfect but it is friendly to small investors and small cap companies. Small caps are the companies people get rich buying so it’s important to investors with big aspirations. Someone here was looking for a good offer code for questrade…here is your answer..it seems to say you want to use offer code: 50DollarFreeTrades. Here is the discussion: Helped needed with Questrade margin call that liquidated my account in full. On February 24 at 8:11am. I got a margin call email from Questrade stating that I needed to put 3,550 in my account to cover a margin call and that I should respond before 2pm with payment or notice that payment is on the way to avoid action being taken. I was teaching and did not pick the message up until noon. I followed their instructions and called a rep. I got through at 12:45. The rep stepped me through a screenshot of my bank statement. I had electronically transfered $10,600 from my bank of Feb 20. It had not arrived yet but the rep said it the email would take care of everything. Well, it didn’t. I found out at about 5pm that my holdings $10, 700 had been liquidated in full. Aqui está o kicker. Upon investigation I found out that the account had been liquidated at 12:30 before the deadline. There is a further complication. I had not expected a margin call just a regular settlement. However it appears that a cancelation of an order to purchase something at $8.50 did not go through rather it was executed the day after i had purchased the same security the day before at $9.05 to make the dividend record date for the month. I’m not getting any apologies from Questrade. I’m wondering if anybody else has had similar problems. I’m considering legal action. I’m looking for a manual for Questrader PRO. I’m having trouble figuring out how to put in protective stops. Maybe I’m stupid but I can’t figure out how to properly use the stop/VTSO buttons. For those who have been hesitant to try out Questrade then here’s your chance: Coupon Code: 50DollarFreeTrades. You get $50 in Free Trades!! And entered for the $5000 value package. This coupon doesnt expire. BEWARE OF QUESTRADE’S SHADY ACCOUNTING. I have had the single worst experience of my entire life with Questrade over the last few days, as I write this MY ACCOUNT IS MISSING $923.45 or 35% of my entire account balance & life savings after 3 CONSECUTIVE DAYS OF ACCOUNT IMBALANCES. I am actively spreading the word of my ordeal through any medium I can until the problem is fixed I have gotten a letter to the editor posted in the Kingston Whig-Standard and am awaiting publication of my letters to the Toronto Star, Toronto Sun and the Globe and Mail. My uncle is one of the webmasters at Craig’s List so I should have a leg up in informing as many people as possible. I have personally traded stocks, options and funds for 7 years and ETF’s, FOREX and bonds for 5, so I consider myself informed about the online broker business. I am not a wealthy person but I enjoy investing in a ‘hands on’ fashion. I had an account with E*Trade for 6 years with no problems. A few months ago I left them for Questrade because of the cheaper commissions and their favorable consumer ratings. Up until the morning of March 5, 2009 I had a very good experience with Questrade, I even got my account set up in only 4 business days, which was very impressive! *Note all figures include commissions and exchange rates at the time of the transaction. Also, I have a TaxFreeSavings account, which means no margin account, no loans, no borrowing, no overdrafts. I can do transactions up to my current cash balance, any more money and it will reject the order because of insufficient funds. I can prove all claims/ figures through screen shots of history and physical account activity forms mailed to me after every day that I traded. With that in mind…… The night of March 4, 2009 at 4:05PM I bought 23 shares of FAZ (an ETF) @ $79.80 USD=$1,840.44 USD (total after trade commission) x 1.27(the exchange rate at the time)=$2337.36 CAD worth of stock in my account + $54.72 CAD in cash left in my account=$2392.08 CAD is my total account balance. The morning of March 5, 2009 at 9:33AM I sold the same 23 shares of FAZ I carried over from the day before @ $86.86USD=$1992.81 USD (after trade commission) x 1.2785(the rate at the time)=$2547.81 CAD + $54.72 CAD (cash left in account since night before)=$2602.53 CAD total cash in account now. But there was actually $2232.04 CAD showing in my account balance when I checked it after the trade like I always do. That means my account was $370.49 CAD… just like that. I’m not going to go in to greater detail but the same thing happened the next two days as well taking $165.04 CAD on the morning of March 6,2009 and then again for $396.96 on the morning of March 9, 2009. I suspended my account at that point and stopped trading. They had taken $923.45 CAD by the end of it, or 35% of my life savings (I am still young and busy paying off student loans). I would’ve suspended it after the first day but they assured me it would be fixed and after the second day I was waiting for this manager to call me back, which he failed to do. Now you would think that in the face of this irrefutable evidence, and the fact that they admit a computer glitch took money through faulty a exchange of currency from a bunch of other people’s Tax Free Savings Accounts over these same days, that they would admit the error. Boy was I wrong, the real fight had just begun as I spent 2 hours and 06 mins. that day (have long distance phone bill to prove it) on the phone to 3 different people at customer service, trading desk, etc. They just tried to explain it away going down a checklist of things;didn’t add in trade commissions (even though the totals I used from webtrader history have them added in), exchange rate (which I took from the forex website), my miscalculations, etc. Each person would say they would “send a report to the back office and someone would follow up with me in the next few days. Guess what, not one of them did, I called again on Friday March 6, 2009 and asked to speak with a manger that didn’t call me back for 4 business days and when he did he brushed me off, even though they admitted “some money was taken from my account and put back”, $181.82 CAD on March 5, 2009. He refused to understand that I sold stock for this price and then my account balance said I had much less then what I sold the stock for, even though this is very simple concept. Robert Chandler is the name of the “manager” I spoke with. He at one point 30 mins. into the conversation said hold on for 5 mins. and pretended to have an audit done on my account, even though another manager told me audits take at least 3-5 business days. Apparently Rob is a superhuman adding computer… either that or a bald faced liar. I called him on the amazingly quick audit he was able to do and he hung up (I have a witness who was also listening to the call), after 45 mins. of denials. I spoke with him a few days later and said he couldn’t bully me into submission, that I wanted a real audit of my account. He told me a real audit is $75 an hour charged to my account. I asked if Questrade was found to be at fault, would the audit be free? He said no the audit would be around $500.00 in total and would not be refunded even if they found that Questrade took money from my account. I then attempted to go higher then Rob by using this excellent comment post and contacting Emil Vojkollari and Nicholas Roussos who seem to help people on this blog solve problems with Questrade, and guess what? I have left 2 messages for Emil seeking assistance in the matter and 4 for Nicholas asking him for help as well and both HAVE YET TO RETURN ANY OF MY 6 MESSAGES. That is not client support, that is an abomination and I intend to make it my hobby for the next few months until every cent of my $923.45 CAD is returned to me with an apology of mass proportions. The ironic thing is that after my forensic auditor finishes his assessment I can take them to small claims court where if found guilty of taking money from me they would be on the hook for $1000’s to pay for my legal counsel (my dad, who charges $300/an hour) and $1000’s for their own legal counsel plus have to explain the verdict to the IIROC Canadian securities regulatory body and risk losing their retail broker license. Sorry it took so long to read, but PLEASE, ANYONE WHO DOESN’T ALREADY HAVE AN ACCOUNT WITH QUESTRADE…DON’T, ANYONE THAT HAS AN ACCOUNT ALREADY…CLOSE IT. THIS AGGRAVATION HAS GIVEN MY WIFE AND I WEEKS OF SLEEPLESS NIGHTS AND UNTOLD STRESS. This recession has been hard enough on everyone let alone being taken for 35% of my families entire savings. Questrade are at best a terrible company with horrendous customer service and complaint response, and at worst criminal with gross misconduct on the part of ROBERT CHANDLER. You don’t hang up on someone or lie and say you are doing an “audit” that was magically finished in 10 mins. instead of the standard 3-5 days. The fact that neither Emil nor Nicholas has bothered to return my calls proves that the upper management is also not taking customer’s complaints seriously. It’s sad what this world is coming to sometimes, I hope between the huge ad on Craig’s list and the letter in the Whig-Standard, the letters hopefully in the Tor. Star, Tor. Sun and Globe & Mail: people will recognize the absolutely vile way they have handled me. I was only trying to get my family ahead using a discount broker to save fees, I didn’t deserve this, my wife didn’t deserve this and my 5 month old daughter certainly didn’t deserve this. Shame on you Questrade. [Edit: Please mind your language. This is a family blog :)] I open up account with Questrade nothing but problem. keep getting argurment with CSR. don’t let that low commission fool you, it will end up cost you big. It too good to true, it is too good to be true. If you are interested in current Questrade coupons & promotionals… try checking out Questrade Blog at. [This comment has been edited. No profanity or swearing please. This is a family blog] The worst liar I ever deal with and Questrade have him as a senior rep at Forex dept. I couldn’t get out fast enough. They come up with lousy excuse to give back your money. I still waiting for them to return my fund. As posted earlier, I am taking Questrade to court to recoup my $10,000 loss in amargin call. They had my money to cover the margin but depts at Questrade were not conmmunicating well enough. I’d like to hear more about their incompetence. Maybe we have a class action case. This has to be the worst experience I have ever had.. The representatives take weeks to call back.. Their line is always busy always or no one answers goes to voice mail and they never call back.. worst mistake ever its really bad they have no customer service to help you with questions.. They told me one thing and did the other.. stay away. Ok so now i find out they dont have real time currency exchange so if i have 100 CANADIAN dollars want to change it into USD well I wont know ho wmuch it will give me at that moment. I have to blindly do the transfer.. because they only transfer all currencies at 5:00p.,m. On top of that they charge 1.25, 1.30% on the transfer.. i’ve been calling daily for the past week NO ONE IS EVER THERE?? Then a call back weeks later. Im really not happy. OMG, Questrade is the worst business i have ever dealt with. The account start up was NOT hassle free but it doesn’t end there. I have spent the last 2 months trying to withdraw my funds from the account!! I funded my account electronically but apparently this does not mean you can withdraw you funds electronically. After sending in my pre-authorization form 3 times, the customer service rep is telling me the EFT is still not set up. I would rather pay the $29 commission from TD Waterhouse because the problems with questrade is just not worth it. I was seriously considering Questrade, but after reading all these horrific stories of deceit, indifference and incompetence, I decided to pay more for trades for more security, experience and backing from big banks. Obrigado pela sua contribuição. I was a Questrade client wayback since it started, I joined in 2004. At that time customer service was excellent. I left recently due to unbelievably poor customer support. They overcharged my account data access fees for 3 months in a row starting November, and it still hasn’t been resolved although I promptly notified them. Don’t misunderstand, this isn’t due to any disagreement that the account was overcharged. It is simply due to the unbelievably low standard of customer follow up. After about 7 emails and 6 calls, being sent to the ‘back office’ (haha get used to hearing this), still no one replies. Emails are not responded to. Phone callbacks aren’t made. And this is a small 48 hour resolution issue involving about $100. Try connecting to a customer service representative through online chat or phone. If that doesn’t tell you everything, then there is nothing I can say. Absolutely horrible. When I closed my account stating my issues no response. When I asked why my funds weren’t transferred after I closed I was told I need to make this request :). When I made the request still three weeks out and no funds ETFd. This company’s service quality has become a complete joke. God help you if you ever need customer support. Fairly warned. I am taking Questrade to court to recoup my $11,000 loss in amargin call. They had my money to cover the margin but depts at Questrade were not conmmunicating well enough. Also I checked IIROC webpage, IIROC had a hearing about Margin issue on 4/28/2009. If anyone have same experience like me, Pls send me email(alanycui*no spam*@yahoo). I’d like to hear more about their incompetence. Maybe we have a class action case and share some information and experience. Muito obrigado. Mike Madej, I don’t know your email. Pls send email to alanycui*no spam*@yahoo. Obrigado! Thanks for everyone who commented. I was thinking of opening a Questrade account but I’d rather pay more then pay later with a bad experience. Their low fees aren’t worth the hassle they’ve put others through. Questrade ,Do you have other platforms ,such as Realtick.Or ITG Light used to be Kasten Chase,evidently for additional cost,.your current platform AXIS is very mediocre,there is no MOC,for TSE,charts+,. bad online trading ever … When you deposit to them, it is fast. WHen you want to withdraw money, it takes you forever …. I just opened an account with Questrade. I have not run into major problems using it beside a much slower account transfer than they initially stated. I am really bothered by the fact that it requires 3 set of passwords using their site. It is the most retarded system one can ever expect. Further, there are so much useless stuff list on the site, it is confusing. What the hell you need 3 sets of passwords? “for security” they answered. I use Bank of America, it has one pass code. I use TD Ameritrade, it has one pass code so does Scotiabank. Why the hell you still need to see the promotion garbage after sign in when you are already a member? The fact of the matter is after reading the comments list here, I start to worry if all this much hassle really worth the saving on trade. I’ve had an account with Questrade for about a month and I like being able to buy and sell without thinking about the transaction costs because they are so low. I feel free to trade and not worry about the broker taking a big cut every time. The web site does not give much info and is not designed very well or intuitively, but it gets the job done. When I pull my funds I don’t anticipate needing them immediately, so I’ll put up with slow fund transfers for the peace of mind of being able to trade freely. I’ll just have to plan ahead if I need my cash back someday. Setting up the account was not too bad, but the instructions were not entirely clear. Don’t think you’ll be up and trading the next day (or week), but after about 10 days I was trading without problems. TOTALLY SCREWED BY Questrade. I was holding onto a stock called the sentry select income fund (SDT.un.to) and it is converting to a mutual fund by August 14th and as result was delisted from the TSX on the Aug 4th and stopped trading. This morning in it’s place I have a stock with the ticker SSDUF.pk which trades OTC and is USD position. Since it’s a USD position I now have a large margin call because of inadequate funds. I contacted Sentry Select and they have told me that SSDUF.pk had nothing to do with their stock but the people at QT don’t seem to care and all they demand is that the margin call be filled. I can’t trade my SDT.un since it doesn’t exist anymore. I’m scared that QT is going to sell this junk that is in my acct in it’s place and cost me a ton of money. As a followup to my situation I emailed Lynn Suderman. After a few days later I did receive a call from her asking whether my situation was resolved. Fortunately for me it did resolve itself in the end. I appreciated her call and it demonstrated to me that there are people at QT that do care about their customers. Unfortunately I can’t say the same about the CSRs as no one I spoke to could provide me a satisfactory answer to why the situation with my account occurred. Also the person who called me from the credit department was quite rude when the margin call appeared. All I can say is that you pay for what you get and I have become acutely aware of that now. Questrade is the worst company I have ever seen. They have a very messy management system and bad customer services. It took more than one month to open an investment account. Last yeat, I tried to open an investment account with them. I provided all documents they required very clearly and mailed the initial fund to them. After one month my new account was still not openned yet. I email to different people whom suppose to help me to open an new account, live chat with their support people, and called to talk with them on the phone. They told me that my account was openned and approved. All I have to do is to wait for the welcome mail from them. After more than one month waiting and so many talking with them, I still could not get my account openned. Finally I called and talked with one of their supervisor to ask an explination. He told me it was their internal management system mistake. he can open a new account for me immediately. Timing and accurate are very important facts in stock treading, but they have such a massy system that delay and generate wrong information for their customer. After such a long delay and getting so many wrong information with their people, I do not trust this company any more. I would not put my hard working money into such a inefficient company. Therefore, I have to asked their supervisor to close my account and refund all the money I mailed to them, and told him that questrade is the worst company I have ever seen in my life. It took me so much time and energy to go through a simple opening account procedure, and finally it did not work for me at all. There are so many good companies over there to worth my trust. I want to write my bad experience here to tell you be careful with them! I’m currently opening an account with Questrade and having the same experience as the above writer. They claim that I have missing documents when I have 2 people check to make sure everything was included before mailing. Something is not right there. Bottom line don’t open an account with them, it is just not worth it. Questrade Review – Feedback do cliente. This year I opened a Questrade account. I have been trading moderately through several brokerage accounts (including Scotia iTRADE and BMO Investorline) for the last 6 years. Due to Questrade’s confusing account balance info, it wasn’t until 6 months in that I discovered I was paying hundreds of dollars per month in interest on ALL the money I used to buy stock. My Canadian funds were not being used to purchase stock – instead, the funds were used as a hedge, and US funds were loaned to me to facilitate the purchase of stock. Questrade support is rude and involves a minimum of ½ hour wait.. The support representative I eventually reached cordially informed me that I was in error, and so I asked to speak to a supervisor. The supervisor was forceful, insolent, and demeaning, yet well-trained: following the conversation I realized that his job consisted of efficiently overflowing the customer with double talk in order to secure the funds which Questrade subversively exacts from its clients. My experience with Questrade is by far the worst I’ve had with a broker – discount or otherwise. If you are absolutely certain you understand all the fine print of this scam-broker, feel free to use them to save a dollar or two per trade. However, I am now going with iTRADE. They have proven to be both fair and professional; support requests are answered almost instantaneously, 100 free trades were offered regardless of my obliviousness, and each trade is $10. And yes, I went through the standard 2 month procedure of repeatedly mailing documents that Questrade apparently did not receive. The best part is the fake electronic signature capability, which is another great time-waster. Woo it’s a surprise to read all the negative comments about Questrade. I opened two accounts (TFSA and non-registered) with Questrade in June. Things have worked well so far. I have a log to record all my trasactions. I haven’t discovered an error yet. Sometimes the data are not updated promptly. Maybe that will cause some issues for some people. But ususally the next day the data is correct. Customer service experience: I like the online chatting. It’s fast and convenient. I did meet several rude agents. But overall 85% of the calls were ended with satisfaction. My suggestions for new traders: if you investment fund is small (<$50,000) and you only do simple deals like buying or selling stocks, then Questrade may be a good place to start. Big banks just charge too much. For big or advanced traders, maybe big banks will be a better option. It's always true that you are getting what you pay. Boa sorte com negociação! 🙂 I wouldn’t surprise to read all the negative comments about Questrade. I have read so many negative comments about Questrade on different websites after I had bad experience with them. I wish I did my research before I deal with them. The major concern I have about Questrade is they have a very bad system. At the very beginning someone made mistakes on their system and then everybody just simplely using the wrong information. In may case regardless I live chat, email or phone them, they all checked the same database using the wrong information. Nobody willing to check their system mistake and make the correction. After months dealing with these irresponsible people I have to leave them. Even they apology to me but they could not recover my loss. I do not trust the company with bad system and irresponsible customer service. I would put my hard working money into somewhere else. The Fee Structure of Questrade is simple. However, the service is horrible. I requested to set up an EFT and waited for a month. In the mean time, I had to send the same request to Questrade repeatedly. Everytime i got an automated reply saying someone would contact you within 48 hours. It never happed. So I believe we always got what we paid for. yes a i’d like to add my 2 cents worth. i was also was attracted by the low rates but i find manouvering around three different sites (qtrade, wtrade, and penson) kind of awkward and time consuming. also i don’t like that you cannot change the log-in id they assign you and if you have three different accounts as i do you need to remember 3 different log-in numbers or keep going back to your e-mail to copy and paste. i would like to be able to log on once, access my trading platform, move money from one acc to the other and check account history all at once. The whole system is pretty awkward as it is now with different windows opening up all the time. Questtrade has the worst service possible; it’s not worth the lower commissions. If you want ANYTHING done (including reversing THEIR mistakes), good luck. I should have done more research on the reviews before attempting to open a questrade account. By far the WORST online brokerage ever, from setting up the account to transferring my funds from my previous broker and God help you if you try to get a straight answer from anyone there. Live chat is utterly uselss, 30+email exchanges and counting, 6 phone calls that resolved nothing… apparently my in-kind share transfer is “missing” and I’m out $3000 right now. 6 weeks and c0unting…. don’t be fooled by the low commission trades, this company is not worth it. Stay away from Questrade. Their mistakes will cost you money and, apparently, those who’re in charge there are gladly accepting this risk. If you still want to give them a try, then *pray* never to have to deal with their customer “service”. Don’t try the USD TFSA, especially if you trade options. It will be frustrating to see your profits diluted (and losses amplified) by the transaction fees and the exchange CAD>USD>CAD. If you’re trading US options, then use thinkorswim in a regular USD account and pay your taxes; you’ll be better off at the end of the year. (Not to mention the superb platform and the outstanding service of an intelligent bunch of helpers, every time you need it, with prompt results. For those who reached here from google: “superb platform, outstanding service, intelligent people”=thinkorswim, *NOT Questrade*) I believe that TD Waterhouse is in the process of merging with thinkorswim Canada. It will be interesting to see how it turns out. Questrade’s infuriatingly bad customer service to me a new user has been sufficient to warrant wishing to close the account asap. The only problem is that even to do that is proving to frustratingly slow. So annoyed that I’m actually bothering to fill in a comment on this website as a word of warning. Stay far far away from Questrade. I’ve used over 4 brokerage services and I have not come across any more incompetent than these guys, from front office to back office, it is junk. CSRs don’t talk to themselves, instructions are not followed up on, just name the vice in online service, they’ve got it. I started noticing some time ago (about 6 months) that I was being charged for a platform I never used, did not trade there for some time and noticed quite some decline in my account balance, nowhere to check history of charges. I decided to close my account and got charged for some few months platform charges (for the live of me, I thought that was what the monthly deductions were for). Just look for someone else. Which Canadian online brokerages are better? I’ve read plenty of negative comments about Interactive Brokers. And Sink or Swim is not accepting new customers until they finish integrating with TD. I meant Think or Swim. [Edit: This post has been removed. There is no such promotion at Questrade.] Please ignore the comment by “Mike Butcher” pretending to be from Questrade. Questrade is *not* running any such promotion. Please do not spread unfounded rumours about Questrade on this site. Don’t even call and waste your time. I called they do not have any clure what is Jeff Beck Special. i still cant believe people are going for questrade or that their still in business, broken platforms, moron csr’s im sure their turn over rate is high, rude managers, for what? for 4.95 the amount of time and money you loose is it worth it, i mean if it was something else it would be a different story but people your putting your hard earned $ into this. [Ed: Pl. watch your language] The negative comments are very surprising. I guess it’s true that unsatisfied customers give 10x the amount of feedback as those that are satisfied. I have been using Questrade since August 2009, so far so good. Account setup was under 3 weeks. Online help is great. I trade with the QuestraderWEB platform, meets my needs (<5 monthly trades) EFT is smooth, 2-3 business days (deposit/withdrawal) Bottom line: I would recommend trying them out. Questrade was ranked one of the the worst online brokers in Canada. Thomas // Mar 3, 2010 at 7:06 pm. I would recommend you to try others before you recommend Questrade. Maybe it is just because you have a low standard or you trade less. I’ve been a Questrade customer for a couple of years now. I’ve executed just about every possible trade with these guys, including options and shorts. I have no issues with them, other than the 2-3 days is takes to transfer money between my Questrade account and my bank account, which I can live with. IMHO Questrade is for experienced traders who fully-understand the trades they are executing and take the time to actually read Questrade’s policies. For example, if your non-registered Questrade account settles in $CAD and you buy a security that trades in $US without first buying US currency, Questrade loans you the US$ needed to make the purchase (secured by your CAD funds) and you pay interest on the loan at their posted rate which is currently 3.75%. The reason for this is simple: Questrade has no idea what your intentions are with respect to this security. There are many valid reasons why Questrade cannot simply execute a currency conversion when you buy US stock with an account that settles in CAD dollars (the exception to this is purchases made within an RRSP). Another common complaint about Questrade is the need for three sets of passwords to access three seperate websites (the main Questrade site, the Questrade trading platform you use, and the website of Penson Financial, Questrade’s clearing agent). While I admit this setup is not streamlined and pretty like the big bank discount broker websites, this is one of the reasons Questrade is able to offer dirt-cheap trading commissions. The cost-savings realized by not integrating these three websites are partly passed onto the customer. I do recall some initial frustration for the first couple of weeks while I got used to everything, but now it’s all second nature to me. There are many other small matters that cause frustration with inexperienced traders, such as the exchange and ECN fees that are tacked onto Questrade’s commission when you remove liquidity from the market (yes, it’s possible to remove liquidity from the market when you buy stocks, not just when you sell them). The point is that Questrade spells out on their website exactly what the fees are and when they will be charged; it’s up to each individual trader to read the information to inform themselves before executing a trade. Bottom line for me: Questrade is a good little discount broker for experienced traders who understand where the fees and commissions come from, and most importantly how to minimize them. Traders just starting out might want to consider a big-bank discount broker instead. Every company has some satisfied customers. otherwise the company would not exist. The main thing we should look is how many unsatisfied customers. Since huge amount of unsatisfied customers complaining Questrade with so much unpleasent experience, I would go to the companies with much less unsatisfied customers. there are so many good companies exist. why should we go to the bad one? I suspect many of Questrade’s “unsatisfied customers” are inexperienced traders. I think it is good to mention that Questrade ranked first in customer satisfaction. So low standard or not, it seems that Questrade’s customer are satisfied with what they get. I tried to open an account with Questrade, ended up giving up, phone help was useless – conflicting information from support people resulted in emails requesting more or different information. Too much frustration, have better things to do with my time. I was about to open an account… just to find your feedback on this site. Then I though… lets try their customer service and see what kind of phone support I would have if I was a customer.. called, dialled the various keys ‘if you want to talk about the status of your transfer press x’ & # 8230; then wait for about 10 minutes.. ‘..your call is important, the next available agent…’ No need to go further, I did the same test with other providers and got answered almost immediately. That was the turning point to decide not to direct any investment to questrade. You guys just do not get it. If you are interested in the cheapest discount broker in Canada, YOU CANNOT EXPECT the best customer service and the best trading platform. It is 5$ a trade and no inactivity fees. You would like the best amazing trading platform with an excellent customer service to go with that? GET REAL. It is like going to the 1$ shop and complaining about the bad quality. All I have to say is that if customer service and all the extras are essentiel for you, then YOU are the stupid person for even considering the cheapest broker at first. I use Questrade since quite a long time now and I enjoyed the lowest fees on the market. Plus I needed customer service twice so far and got immediate answers. Trader Joe says: March 5, 2010 at 3:17 pm. I suspect many of Questrade’s “unsatisfied customers” are inexperienced traders. I suspect a lot of the positive comments are plants by Questrade. For the cheap discount broker, people do not expect the best customer service, but we need fair customer service. We may not need help on trading, but a lot of times we need to ask their policy that no other companies can answer us on Questrade’s behalf. We also have to ask them to correct their mistakes that no one else having the right to do it. It doesn’t matter how smart you are, you do not have the right to make corrections on their internal db. you have to contact their CR. Some people are lucky by never have any issues with Questrade system problems, but not everybody always lucky. People have to contact CR for various reasons. It is a very basic requirement. We go to the $1 shop to buy cheap stuff, but we do not expect to buy any broken stuff in store marked as a new stuff. We can accept low quality items in $1 shop, but we could not accept the items not meeting our basic requirement. To wait 10 minutes for customer service is definitely meeting the basic requirements according to me. I need to wait 40 minutes with my phone and TV companies. Also, I always waited no more than 5 minutes and got great service. It is also funny to read the same lame bad reviews on each Questrade review website. Some of them are even funny as people truly are the problem, and not Questrade. Anyways, I only wanted people that consider Questrade to get other perspectives that the ones from the mad people. Also, keep in mind that Questrade has A LOT of clients which automatically leads to more ”unsatisfied” clients (every business has ”unsatisfied” clients). label people who have different opinion by “stupid”, “truly are the problem”, “mad people” is not the correct way of fair discussion. Everybody has his own experience when they deal with things in their life. When you get mistreated and speak out your opinion, do you want other people call you stupid? You are not only refer to a single people, you are again all “bad reviews on each Questrade review website”. Be real. I opened TFSA account recently and had few issues opening but CS were able to help rightway on phone…it only took 4 days to open n fund account. So far no big problems except I found today that I can’t trade OTC with TFSA so they want me to open regular account…. The only prob with questrade is that you have to log in at three different places to access different information… Too many bad reviews to be a good company, if I saw people complaining like this on ebay feedback I would walk from that vendor. If you are loosing $1,000 of dollars on Questrade because of their practises, get real and go back to a bank $29 is a drop in the bucket on a grand. Looks like i will have to do more research to find a better company. I think they were trying to defend themselves in the 2008 posts, but gave up somewhere along the way, too bad, would be nice to get their side to these stories. Just to ify to place my hard earned bucks in… I “think” I just figured out how to “properly” use VTSO. VTSO (virtual trailing stop): these orders are trailing stops that adjust as the stock price moves. When entering the stop, enter the trailing amount not the desired price. I’ve been doing it completely wrong this whole time. If you have stocks that start trading at $30 and want to limit your losses to 10%, simply enter 3.00 in the “Stop Price” caixa. It’s confusing, but after reloading the order status box, you will see the correct stop price listed (i.e. $27.00). I have had no major issues with questrade since the past 1 year I have been using them. The only problem is unprofessional customer service which unfortunately is something I have learned to put up with to take advatage of lower commissions. TD Waterhouse is a great broker but not worth the commisisons they charge. I just opened a Questrade account and noticed some discrepancies in my cost basis totals. I figured out the source, but I think Questrade should be more open about the extra fees. More details are here: I was this close to opening a new account with Questrade because of their super low commission fees. After reading most of the reviews written here, I’m giving second thought. lol…I wasn’t sure some time ago. But if you read every posts, learn what mistakes they made and read everything on their website (once or twice). You won’t have any problem and you’ll enjoy their low commission and fee less accounts. and if you haven’t done your homework and/or don’t know how the market or the brokers works maybe you should do something else. be careful and good luck. Sério & # 8211; I’d say more than half the complaints on this site come from people too stupid to own a computer, let alone trade online. Mistakes happen. It seems being the cheapest broker also attracts the dumbest customers. Give Questrade a shot. The fool is you. Stay away from Questrade. I have never been more angry at a company before. a) opening an RESP and transferring seemed inordinately difficult and laden with problems. b) turns out that my existing RESP mutual funds never did get transfered. c) they were never able to get my name right on the account, and told me not to worry about it, it still works. d) they claim to be a Canadian company, but their trades and architecture are all through Penson, based out of Texas. e) you cannot log on to MyQuestrade using Firefox, and you can’t see contributions using Webtrader. I would like to say that you get what you pay for, but the comedy of errors that is Questrade isn’t even worth that. I’ve set up different accounts (RRSP, investment, wife’s RRSP, RESP) with four different trading firms to evaluate which one I like better. Years into this experiment, I’m mostly happy with the various features of BMO, CIBC and Qtrade, but I cannot wait for this latest error to be corrected so that I can transfer to a different firm and shut down my Questrade account. Overall, I find Questrade to be good. I don’t trade a lot, just monthly deposits, buy and hold stocks. I’m not an active trader. I know what I want to buy, so why pay fees when you don’t have to? I currently hold bonds in a TD trading account but I noticed Qtrade now offers bonds at better prices then TD. Maybe I should switch those investments over too. The 2 cons I can think of however are a) not as much inventory of bonds for sale as TD and b) is there a risk to Qtrade going out of business. Laroche your an idiot,you must be one of the monkeys that works there, questrade should of been shut down by now they must have good lawyers and live off people that don’t care about loosing their money and put up with bs, idiots like you. out of all the negative comments here im sure we have some competent users. qtrade has 2 problems , problem #1-you have to keep everything you do on a spread sheet because the platform is corrupt, constant trade breaks and the numbers never add up right, onetime it showed i made 20,000 off a trade when it was only 200. problem #1 leads to problem #2 because each time you have a problem you have to call customer service. customer service is non exsistant, if you has the tiniest bit of a problem you waite 3 weeks and than you have to escalate to a manager and if anything gets done right your lucky. BOTTOM LINE – stick to reputable companies cibc/rbc/td if you care about your money. Even the better business bureau BBB has a rating C and 12 complaints launched against this fraud organization. I’m a little confused by some of the messages. I’ve been with Questrade for a while now and adding funds is as easy as paying a bill online. Just create an electronic payee and add your account number and its there in a couple of days. That said, they are not a perfect broker. I’m still having trouble shorting with them. I think my lot sizes are too small. @Chad: It’s a while since I wrote this post and it may be time to revisit. Question for you: how well / easy is it to fund USD accounts? IIRC, funding USD accounts involved extra long holding periods in the past. I opened an account with questrade and transferred funds to my account on January 31, 2011. The account is no longer showing and the funds are not their either. They say oit there but after 2 weeks I am concerned. anyone have concerns or something like this happen. stay away from questrade,i had bad experience with them,with the change in software some of the position disappear from my account for more than week and their explanation was we cannot do anything.no customer service at all,the r rude on the phone sometime 40 minutes hold,no email return,made me loose 10 time than i save on commision.going back to td. @Brian, @Sam: Try contacting Lynn whose contacts you can find in the comments thread. Not sure if she’s still at Questrade but she has helped clients with problems before. Sorry I couldn’t be of more help. Boa sorte! I traded with qtrade for a few months. I found them to be almost laughably incompetent and great at telling lies. At one point when a trade would not close I called CS and asked why everything stopped for 10 minutes just after a nice run up in a fx pair I was holding. His answer was that the market stopped trading and that there was no liquidity in the forex market for 10 minutes. (an out rite lie). I asked him if they were an ecn broker and he answered”what’s an ecn broker” That was enough for me. I got the impression that the company was a one man bucket shop.lol. I was told after lots of emails to them and phone calls that I need tro set up my account again and that they had my money and would put it in then. I did that today so I should see my money tomorrow. I hope it will be there. I will report back. Just to let everyone that Questrade live up to their promise and fixed everything up. They did a big conversions so things go a bit crazy but now it is all ok. Thank you Questrade. I transferred fund to my friend’s account via online banking payment last week. So far, the money has not been settled yet. we tried to contact them via email, live help, phone call and fax. Hoever, no response at all. Now, the money has already been transferred out of my bank, but we don’t know where it is settled. Frustrated! It takes a few days to settle on the transfer. They use some company that is the go between between them and the banks to transfer funds back and forth. I’m with questrade since 3-4 months and I’d like to add a con to the list: communication problems. When I transferred my account from my previous broker to questrade, things initially went well. However, my history kept showing as pending and I wasn’t receiving the promised refund of transfer fees. After I contacted them several times by chat and phone, I eventually was told that I had to send them the proof I had paid transfer fees. I thought that was something I should have been told right away instead of having to follow up incessantly. I eventually was refund, but my transfer is still showing as pending, 3 months later. I was told a few times they would fix that, but so far they haven’t done a thing. Now I’m hesitant about sending more money to a company that seemingly can’t fix a simple status update issue. I also wanted to initiate a DRIP on my account and I was told I simply had to upload the form and they would take care of that. I did that the very next day. A month later, again after multiple follow ups, I was told an uploaded form was not acceptable for the first DRIP and I had to send a original signed form. I also would have thought that this would have been something worth telling me up front, if not by the agent on the chat, then perhaps by email when they realized I had uploaded a form and this wasn’t acceptable. Now it’s the second form I have to send them because apparently the first one never got there. Another person than me confirm the address on the envelope was correct, so I doubt this is a wrong address problem. And since I once received an email from questrade containing private information from another of their client, I’m wondering if my form was misfiled somewhere. From my experience, my concern with questrade is: are low fees worth a mediocre service? My name is Matt and I work at Questrade. I’m sorry to hear that your recent experience with us was not positive. Please email me your information so that I can have a member of our solutions team contact you directly. You can send the email to mbasile@questrade. Both issues were quickly solved, thanks. =) I’m still concerned I had to go to such length to see the end of this, but now at least I can move on. My questrade review, investors beware…. I have been with questrade since 2008, and I have accounts with TD waterhouse, CIBC world markets, IB, and scotia capital. One lesson I have learned dealing with brokerages is you can’t have everything in one basket. In the past, I traded a great deal on questrade and even became a questrade platinum member. My first year with questrade was great. Services calls were prompt, trading platform is quite reliable, and fees fairly accurate. But for the last two years as questrade expanded and commercials become more prominent on BNN, services and platforms as well as fees have become problematic. During trading hours, calls to trade desk and CSR takes hours. Even if you do get through, the level of service is incompetent. Even platnum dedicated lines takes hours to get through. Recently, questrade migrated to a new platform, many preferred shares have to be called in for trade. I am currently in a dispute with questrade because I called in a limit GTC order for preferred shares and the trade desk confirmed my order but the orders don’t show in my account. A week later, the limit GTC order conditions were reached and I called in to confirm that my order is filled. To my horror, the CSR told me there is no order and he had to investigate the issues and call me back later. Guess what, he never called. To this date, I can’t understand how an electronic trade order be lost. Another issues is lack of integration for trading forex and bonds with equity platform. For investors with large basket of investments, you need adequate funds in both forex accounts and equity accounts to trade which severely limits market opportunities. Also any bond trades have to called in to trade desk and are not reflected in equity account balances. In the past I have recommended questrade to friends, now the only thing I can says is beware… I appreciate your candor in discussing your recent frustration, and I’m sorry to hear that we’re not delivering the level of service that you deserve. I would like to address your concern head on: can you please email me at mrust@questrade with your contact information? Our Client Services Manager will contact you directly. While I completely respect your right to discuss Questrade – pros and cons – in a public forum, we need your personal account details in order to investigate the missing GTC order. I sincerely hope that we’re able to present a solution and that Questrade will again be a company you recommend to your friends and colleagues. Hi, I’m new to Questrade. Can anyone tell me which platform should i use for beginner? Also I’m looking to invest in ETF than in mutual funds. Anyone got a refer a friend code? 🙂 You get $100 free of trade and I got $50 free of trade is this correct? TO ANYONE CONSIDERING QUESTRADE PLEASE READ : I opened a new account with questrade on October 20,2011 and have been having issues with the platform ever since. I brought the issues to the customer service attention who in turn forwarded it to technical support but to no avail. I logged in to my platform at 7:55AM and found an open long position 100 shares and open short position of 100 shares sitting together in my account box both at the same price. Since i did not hold any positions in my account from the previous day, i called the trading desk and a trader said that they will take care of the problem and not to worry. I called back at 9:22 AM and spoke to another trader about the situation and asked why nothing had been done yet. He put me on hold. Few minutes after waiting on hold the shares disappered from the account box and a minute later the trader came back on the line and said that it has been solved by the back office, i confirmed that. Later in the morning, i encountered a system error that cost me $703. Here are the details: On Nov 22, 2011 at 10:26 AM i bought 100 shares of pcln (open long). At 10:43 i tried to get out of my position and sell my pcln shares and the system kept rejecting my order for ” NOT ENOUGH SHARES” even though i owned 100 shares in my account. I tried that eight times but the orders were all rejected on the groung that i dont have enough shares. I realised that there is a system problem and called the trading desk and explained the problem. I was on hold for over ten minutes while the stock kept going down before the trader came back to tell me : ok sir we solved the problem and now you are able to sell your shares, so i asked what happened(sold the shares while talking with a loss of $703) and he said that the shares were allocated and that he had to contact the back office to solve the issue. I asked him who’s fault this is and he answered that it is an error on their side. The trader explained that i have to speak to customer service to see if they will take responsibility of the system negligence.Long story short, after begging the unexperienced customer service representative to transfer to a supervisor, i was FINALLY transfered to a supervisor who disappointed me more than the system error. During our long conversation the manager was talking nonsense and was making things worse not better by blaming me for the error and that i have to wait a duration of time after cancelling an order in the account box to place another one (he did not specify but said definitely more than one or two seconds) and came up with a conclusion that this is why the shares went allocated. I asked for a credit of $468 supposing that if things went well and my order was placed, i would have lost $235 and not $703 and to consider the number of trades i have excuted since i joined questrade about a month ago(paid approx.$1400 in commission fees) . He refused and offered me $50 instead. AN EMAIL HAS BEEN SENT TO SENIOR COMPLIANCE MANAGER ADAM Akretschmann , WHO’S GOT 14 YEARS OF EXPERINCE IN THE FIELD!! I WILL KEEP YOU UPDATED. Please do keep us updated Sam. I have had an account there for almost 3 years without any problems. However, the problem you describe should be dealt with accordingly by Questrade. If there is no documentation available on wait times for cancelled orders, or whatever the issue was, I believe you are entitled to compensation. I may have to move my account if they can not deal with your issue in an appropriate manner. Sure, I have not had any issues in the past, but who’s to say there will never be an issue in the future. I have a bad experience with questrade recently. I opened TFSA, RRSP and FX accounts with questrade since my friends highly recommended it. The trading was running smoothly at first although funding into questrade accounts usually took double time compared with TDW. I started to pull some money out in December, 2011 for the home loan payment. Then I started to suffer a bad experience. The first story was I wanted to withdraw money from RRSP account. My wife filled in the form and mailed it out at the beginning of December. We received an email said the USD$ must be exchanged into CAD$ before they processed it. So I did it on 13th, December. Nothing happened until I followed up on 22nd December. The custom service was great with their attitude. He checked the file and told us he could not find the form at first and then found it later after we assured it should be in the file. We told him of our concern of the urgency and he promised we should receive the money after New Year. I called on 3rd, January and another custom service said he can’t find our request. Things are back to square one. Since it’s going to take two weeks if they start to process it luckily, I can’t see any light in the tunnel by the end of January before the deadline of the down payment. Meanwhile, my wife and I sent requests to withdraw fund from FX accounts on 29th, December. The two requests were only 5 minutes apart. We both chose CAD wire transfer because we thought it might be the quickest way. My wife’s request was processed on 30th, December. Although the website says the exchange rate will be the rate on current day if request was sent before 2pm, which we did, we thought its fine. My wife received the money on 2nd, January as the wire transfer claimed, 1-4 days. However it did not happen to me until I called again on 3rd, January. Again, their attitude was great. I was told it was exchanged to USD$ just now. Apparently, I had a loss since CAD$ was up 1 cent. I can’t believe why two requests at the same time had a different result. How do I know they intended to hold the fund or because of their negligence. I felt very frustrated and going to close all the accounts, same with my wife. And I won’t recommend to my friends either. Very disappointed and will switch back to TD Waterhouse. Did the questrade changed? Now when I log in I get a whole bunch of notices and all I wanted is a summary of my accounts which I use to get and that is what I wanted instead of entering one account at a time. Venice: I am happy to assist you with that. Due to the security enhancement, we recently made many changes to our account for Myquestrade. If you want to check the account summary for 2011. You can go to myquestrade>my account>trade history>tax slip to get the tax document. However the 2011 tax slip has not yet posted online, it will be posted around March 6. I have 4 accounts and I just wanted to see the summary. I don’t want to go through each one. Use to be that once I log in I can see all 4 accounts. I don’t care about the tax slips everyday. Venice: If your accounts are not opened under the same login ID, then you wont be able to see all the account under the same login. I’ve been using the same accounts all along under the same ID and every time I login I can see all 4 accounts. Now when I login I see a whole bunch of notices and I have to go to my accounts and click on balance and positions and see each individual accounts. it is a pain. Venice: I am sorry about the inconvenience, that is the default setting for Myquestrade, nothing we can change. Too bad, please let your management that if this is the case, it is a real step backwards. I am switching to another broker that has a more friendlier interface. Obrigado. When I tried to do a trade using QuestraderWeb, I can’t get in. Error is “Invalid user id or password” on all 4 of my accounts. Worked yesterday. O que aconteceu? I tried using the Live Chat, but no response. Sent email, still waiting as the market plunge today. You save a few dollars on the commission, but you could lose a bundle by not being able to trade when you want to. DO NOT SIGN UP WITH QUESTRADE. Here’s why: I currently have a tax free savings account with Questrade and am trying to create an RRSP account by transferring my balance from another broker to Questrade. Well, that was a few months ago and they still haven’t been able to make the switch. I contacted the other broker (TD) and they haven’t even received the required forms yet, after SEVERAL MONTHS. Not only that, they LOST MY ACCOUNT INFORMATION several times in the past 8 weeks. Do yourself a favor, AVOID QUESTRADE. 1.Claiming low commision of 4.95-9.95, when you think about the ECN fee, you will cry; 2. Margin interest is 1/4 higher than other; 3. Transfer your money in/out is longer than other. 2-3 weeks is norm; 4. You have to wait 1 hr to get someone to answer your call; 5. New platform will fail & you are not able to get access to your account. I have been with QT since 2007. The only reason I stayed this long was because they let you avoid currency conversion in RRSP accounts. Now RBC Direct Investing offers the same feature. I am glad to say I am done with these bozos. Their service is crap, their CSRs are incompetent and their hold times are inexcusable. I can’t wait to be done with them. The slightly lower commission is not worth the headaches. If you want low commission and are a trader, Interactive brokers is the best choice. Otherwise RBC is the one I would use (only because they don’t force currency conversion)I have been with QT since 2007. The only reason was because they let you avoid currency conversion in an RRSP account. Now RBC Direct Investing offers the same feature. I am glad to say I am done with these bozos. Their service is crap, thier CSRs are incompitent. I have had several accounts with Pestrade, and I am transferring the last one out before the company implodes. Canada’s version of PGF Best i wonder? WARNING : I want to share with all people that are thinking to open a Questrade account and also to the already clients to be very carefull. I will relate one issue that it’s happening to me right now with them. I open an account on March 2012. I fill all the papers as canadian citizen as I am. after I bougth some dividends US stocks. I check the amount received and I notice that they take 30% for tax proposes and sometimes 35%. (as Canadians we have to pay 15% witholding tax on any US share and dividend payement). I call them to verify why it’s happening that. and the support desk (Laura), tell me that she will check that for me. After that she sent me an e-mail telling me that she recalculate all the taxes and she doesn’t see any 30, 35% taken. I sent to her all my stock list , with all the dividend payement and also I sent to her how I was calculating them. In front of evidence she accept that was an error . they consider me as non canadian . and they will correct that for me. I have to escalate to a supervisor ( Lulu, they refuse to give as the last name for all the staff), and she tell me this will be corrected very soon ( My demand was made at the begining of july one month and nothing happens). The relationship with a broker is based on confidence and transparency. I ask to them WHY ?, why laura have to see my calculation to assume the error. the answer was : I don’t know. I ask why they consider me as non canadian if all my papers are from a canadian? the answer was: We don’t know, the problem is the clearning broker with we work . very evasive answer. She tell me something that is very suspicious : You are the administrator of your account ( that’s right) and you are responsable of ALL. WE COULD TELL YOU BAD ANSWER BUT IT’S YOUR RESPONSABILITY TO VERIFY WHAT WE TELL YOU . THAT HAPPENS VERY OFTEN . then I want to be aware if you are tradding with questrade to verify on all US dividends stock that you have to TRIPLE CHECK the amount they take for US taxes proposes. If Questrade make with hundreds of client that they trying to do with me. You could be stoled by 15.% and 20% without you realize that . BE VERY CAREFULL WITH THEM . I’m still waitting for the correction. @Astr: I had the exact same problem with Questrade many years back. Other brokers seem to have no trouble with classifying clients as Canadian residents, so I wonder why Questrade has difficulty with this. Questrade is absolutely the worst for customer service. Needed a password reset and was in queue for over 4hrs! Absolutely the worst! Questrade is by far the worst online trading site I have used (others I have used were TD, Scotia iTrade, & etrade) They have went down for the day twice in the last 3 months, I had purchased options the day before and could not log in to sell them the next day. I will not trade with them again as I only trade options and I do not like not knowing if I will be able to log into my trading site the next morning to sell the options. I’ll share the good, the bad and (mostly) the ugly on Questrade. My spouse and I are waiting for Questrade 2011 tax slips to be finalized – novamente. Our customer service experience has been horrible. There has been almost a year of staff turnover and empty promises to fix our slips and get ETF income properly assigned to the right class. This has been a big problem with covered call ETFs where the call premium income has been mistakenly classified as other income. We have to go to Horizons and spell out for Questrade what they should be doing and where the mistakes are on T3s. Time in money too. If you are unfortunate to ever have to rely on Questrade customer service you will realize that it is not worth it. We switched to Interactive brokers and the fees are low, the online chat is responsive, emails generate tickets that are responded to within hours. The currency conversion costs are very low at Interactive Brokers too, and if you have a margin then the rates at Interactive are a lot lower. Questrade I have found may be good for informal trusts – the jury is still out on this because the tax slips are not helpful in assigning the gains to the beneficiary instead of the account holder. The trailer fee rebate on mutual funds may be of value to some people .. you can save about 1% on some funds making the overall MER ‘damage’ less (although you’d be better off still funding an equivalent ETF to your funds … and if Questrade could get the tax slips right) Questrade is good if you want to hold GICs in an RESP – rates are pitiful for GICs in an RRSP anywhere else like a bank. The Questrade rates are not as good as Achieva Financial (which we use for registered GICs in RRSP and TFSA), but they are good enough to park $ when you child nears university and you may just want to cover inflation and get your government grant. For a non-registered account, where you need to get proper tax slips, and especially if you hold Horizons ETFs (or others?) – stay away from Questrade and save yourself the headaches for the sake of a few pennies. Also be advised that Questrade will charge a Inactivity Fee of $19.95 per quarter if you have less than $5000.00 total combined equity and do not make at least one commissionable trade during that same quarter. they sucks,not happy at all.their service sucks,account screwed big time no phone answered .please dont join them my advice. There’s NO other broker that has anywhere close to the same amount of negative feedback online, and yet, somehow, personal finanace blogers keep extolling Questrade’s virtues. Could it have anything to do with their affiliate program? How about full disclosure? Obviosly, this exludes Canadian Capitalist. Questrade affiliate program clear states no negatives about them. These guys are a bunch of crooks. I’ve literally filed 2 complaints with the BBB, 2 complaints with the Ombudsman for Ontario Banking Services and 1 complaint with IIROC in a 3 year period. I closed my account in 2010. It took literally months of negotiation to get them to release my funds to me, and now I’m trying to access historical account statements (for personal income tax purposes) which they’ve lost and can’t deliver to me. There is no company I hate more than Questrade. If you think Rogers customer service reps are bad give Questrade a call. No last names, no accountability, no desire to actually solve your problems. Save yourself a major future headache and stay away. Questrade is absolutely the worst brokerage I have ever used (and I have used many many over the years – big and small). They are incompetent, inconsistent, and outright liars. They tell you they will look into your issue but want 10 day to resolve it. You call back 10 days later and they are unaware that they are supposed to look into an issue. Next, they will “escalate” your issue for priority resolution. Escalation, in Questrade-speak, means “do nothing”. You phone back again — and you guessed it — nothing new and no solution. But don’t worry, you can write an email to the “supervisors” and enter a complaint for explicit and direct resolution… Here comes the punch-line: the “supervisor” will have reassigned your original issue back to the exact same doofus that has been pooch-screwing your issue all along. Apparently these “supervisors” care sooooo much about you as a valuable client, that they deem it more than appropriate to manage client relationships in this way. I spent two years (yes two frickin’ years!) closing out my accounts. With Questrade it could take that long apparently. Only threats of filing criminal complaints with the RCMP made any real progress in getting my accounts closed and, in one case, money “relocated” (and not a few bucks either…). Any other broker could do the same in 6 to 8 weeks. Save yourself the hassle and aggravation (and possibly two years disentangling your finances from these twits/crooks), by finding a REAL broker. Spend a few extra bucks per trade — it is unimaginably worth the extra cost. Confie em mim. All I can say now is “Good Riddance Questrade”. Read the G&M survey to see who the consistent “winner” é. I set up with Questrade around the same time the market was melting down 5 yrs ago. Agree customer service mostly sucks but I don’t have any other brokerage experiences. Most serious problem I had was that they seemed to lose track of some of the purchase prices of some of my stocks . . . I had to go check my online statements and have them correct it. Bizarre. At least you don’t need three passwords anymore. It’s cheap though so I guess we get what we pay for. I’m not a frequent trader so have no comment on things like margin interest and other trading beyond ‘buy’ and ‘sell’. Quest Trade customer service really bad. I have never seen such a poor response towards customers request. I went in their office to open an account I requested the representative to let me know about any offers or promotions. She only informed me about the offer for which i was not eligible. For the one i clearly qualify she didn’t mention that. After opening the account i got to learn about the offer which should have been given to me by quest trade i.e “1 month free unlimited trading” for new accounts. So i reached out to the customer service and requested them to provide me that offer. The representative assured me that he will back date the offer as its not my fault. But after 2 days on following up on my request the same agent told me that my request was denied and i cannot get the offer. I will only get 5 trades free i should take it or leave it. It’s the worst attitude i have ever seen for any customer service. I would ask you guys to stay away form them. Its better to pay few cents extra than to get poor customer service. Listen to this advice, i made the mistake of opening an account (now closed) and wish i never heard of questrade, terrible service and bad record keeping, it is now tax time and they have reported cap gains to revenue canada on a stock i never held, been trying to resolve this for about 3 weeks and i just keep getting passed from one rep to another and nothing gets resolved,when my acct was open i had numerous times i was locked out and couldn’t trade or acsess my acct in anyway, trades showing in my acct i never made and one day i logged in and my acct was cleaned out totally, i called questrade in a panic thinking i had a computer virus and someone had stole my password and i was told by customer service” oh it’s just a glitch don’t worry about it” my money seems to be all gone and the attitude is don’t worry about it….like hell! Scotia i trade now has $4.95 trades like questrade so you can be sure the other banks will soon follow so you get the same price and avoid the hassles of dealing with questrade. My Questrade tax slips are being updated again this year. I probably have to wait until mid May for it to be safe to finalize my taxes and file 🙁 Interactive Brokers does a much better job. Questrade is so frustrating. They have all these hidden charges and feees. It’s hard to navigate. And I’ve lost a lot of money with them based on that. I wish I could say otherwise, but my experience with Questrade has been really, really bad. I hate Questrade so bad. Customer service is terrible and they do their calculations like Rogers. Double billing “mistakes” & # 8211; they have nothing to short and the new bracket orders are a malfunctioning disaster. STAY AWAY for you own good. Questrade is really bad if you trade penny stocks involving large number of shares (for example 23000). They will charge you commission fee of up to $35+ per trade! Big bank brokers will charge a flat $9.99 fee only. NÃO USE ESTE CORRETOR. I wish I did my due diligence before signing up for Questrade. ALL of their advertising is extremely misleading. 1.) $4.95 Trades. Sounds cheap. They don’t tell you about the additional ECN fees + fees this and fees that. Some of my trades have cost me $25-$100 per trade!! This is way more than the banks & other brokers charge. Big banks will just charge $9.95 flat fee. You do the math. 2.) Their promotional bonuses!? They will advertise that if you transfer over, they will give you these promotional bonuses. THEY DON’T. I signed up with two separate trading accounts with Questrade with large sums. I have yet to get any of my bonuses despite calling in several times. They say they will even pay for your transfer costs. Extremely bad service!! Took one month to set up both my accounts. 3.) Their website is down for upgrades after trading hours every day! This means you can’t research or put orders through after hours. I’ve been with Questrade for 3 months now and nothing has changed. Grrr. Look at the rest of these reviews and I think it is strong enough evidence that Questrade is no good! I’m in the process of cashing out my stocks and switching over to another. Now I understand why they say Questrade is a discount broker. You pay for what you get. Consumers beware. To above upset users, I want to share my experience. I left Questrade and then got new trading accounts with different banks. It has been for years, and I have been very happy with my decision. These banks have very professional system and excellent customer services. They have changed their trading fee from high price to around $9.95 per trade, and they also low or remove some other fees. 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