Qtrade Review – Licensed Firm Targeted by Impostors

This company is a victim of impersonation, considering that emerging financial schemes misuse the firm’s name in order to defraud investors. Despite that, the business still operates and is kept under legal supervision by Canadian financial authorities.

User reviews reveal more potential issues. Now, the million-dollar question is: is this firm the victim or the mastermind? Find out in the following Qtrade review.

Broker status:	Regulated broker
Regulated by:	CIRO (Canada)
Operating Status:	Active online trading platform
Known Websites:	qtrade.ca
Blacklisted as a Scam by:	N/A
Owner:	Aviso Financial Inc.
Headquarters Country:	Canada
Foundation Year:	2000
Online Trading Platforms:	Proprietary software
Mobile Trading:	Available
Minimum Deposit:	No minimum deposit required
Deposit Bonus:	Up to $2.000
CFD Trading Option:	Available
Crypto Asset Trading:	Available – Bitcoin
Available Trading Instruments:	Forex, Crypto, Commodities, Bonds, ETFs, Mutual Funds, Equities
Maximum Leverage:	Margin dependant
Islamic Account:	Not provided
Free Demo Account:	Available for 30 days
Accepts US clients:	US clients are not accepted
Global Fraud Protection Experts’ Verdict:	The company is targeted by impostors. Make sure you’re dealing with genuine representatives of Qtrade before committing any funds.

Beware of Clones

Credentials Qtrade Securities Inc. is an online investment brand belonging to Aviso Financial Inc., regulated by the Canadian Financial Regulatory Authority – CIRO. The company offers investment services, asset management and mutual funds.

Apparently, however, misuse of the company image was detected by the CIRO itself. Fraudsters tend to impersonate the company’s personnel and attempt to extort money.

The publication confirms that the broker is a legal entity, but there is always the risk of falling victim to clones that try to mimic this company.

Traders Aren’t Delighted

Although the firm is running a legit business according to Canadian authorities, the majority of customers are not impressed. You can read more about Qtrade reviews on Trustpilot, where the overall rating is negative.

Investors complain about being ignored by support agents and high hidden fees. However, since authorities have already warned of clone companies, negative experiences may come from dealing with fraud and not genuine entities, so beware.

Average, Yet Stable Business

While the company’s website doesn’t sport the bombastic design common to other modern brokers, don’t judge the book by its cover.

Qtrade Canada has an ace up their sleeve called the Portfolio Simulator. This feature allows potential clients to test the environment in great depth and develop advanced strategies before investing a single penny.

While not well-known worldwide, the firm has been in business for a quarter of a century. You may find some of their social network profiles on LinkedIn, Facebook, Instagram, X and YouTube, and even a dedicated Wikipedia page.

Area of Service

As stated before, the brokerage has been in business for a good portion of the century, having been founded in 2000. Qtrade broker remains accessible worldwide, with the majority of their clients being citizens of these nations:

• Canada
• United Kingdom
• Germany

Proprietary Trading Software

The company’s unique technological solution allows you to easily set up a portfolio, keep track of assets, evaluate stocks, and discover new investment strategies. This is the firm’s proprietary application, which, unfortunately, isn’t easily accessible.

In order to be able to fully use all the trading features, users have to set up live trading accounts, which require passing a detailed identity verification procedure. Simply registering for a Qtrade login isn’t enough.

App is in the Stores

Users who wish to trade on the go can always choose to download the company’s mobile app. This intuitive software is easy to navigate and available for iOS and Android users.

To access it, simply click the links on the website, which will take you straight to the Apple or Google online store.

Variety of Assets

The choice of available tradable assets differs for demo and live accounts. What is apparent is that the portal does offer access to a wide range of financial instruments, and some of the most popular groups are the following:

• Bonds
• Options
• Mutual Funds
• Stocks
• ETFs
• Crypto
• Forex

To access a detailed list of provided products, you have to be a registered user.

Package for Every Preference

Owners of a Qtrade account can choose the service depending on their investment capabilities, personal goals, and trading experience. In accordance with that, verified users have an abundance of options to choose from:

• First Home Savings Account
• Tax-Free Savings Account
• Retirement Savings Plan
• Locked-in Retirement Account
• Registered Education Savings Plan
• Retirement Income Fund
• Life Income Fund
• Cash account
• Margin account

Another advantage to joining this platform and getting a live trading account is the fact that there is no minimum deposit required in order to start trading. Please keep in mind that it can take up to 24 hours before your account is approved.

Demo for a Limited Time

For a period of 30 days, new users have the chance to explore the investment options, prices, instruments provided, and other features.

This is widely recommended before you decide to commit any real money. Your login credentials are automatically generated by the platform as soon as you sign up for this type of account.

Complicated But Well Explained Fee Structure

The pricing structure is well-defined on the companywebsite. Clients can expect different commissions for different equity pricing, ranging from 2% for penny stocks to CA$30 + CA$0.06 per share for stocks valued over CA$20.01 apiece.

Likewise, options valued under CA$1 will incur a commission of CA$30 + CA$1 per contract, and over CA$5 in value, the price increases to CA$30 + CA$3.50 per contract.

Trading fees include swaps, which are calculated at CA$45 per security, and credit sell-out fees of CA$20 plus the commission rate. Other costs apply as well, and you should consider all of these before investing with the company..

Make Sure You Read the Withdrawal Documentation

The company offers several interesting financial channels for both deposits and withdrawals. Deposits can be done via:

• Interac e-transfer
• Electronic fund transfers
• Bill payment institutions

It is also possible to transfer an entire investment account from and to another institution or withdraw your whole registered fund.

Withdrawal policy itself is quite different from one account to another, so it is best to contact the company for more information about your particular needs.

Targeted By a Fraudster? Contact Our Expert!

Unfortunately, due to numerous clone companies, there is a possibility that you can be targeted by an impostor trying to introduce themselves as an employee of a legitimate firm.

If you believe this was the case and that you’ve invested funds with an online con artist, contact our legal team. You may reach us at any time via the live chat on our site.