Questrade Discount Brokerage (Finally) Institutes Single Login

by Mike Holman

I was notified recently by Questrade discount brokerage that they were making a number of improvements to their website and service, effective today (Feb 7, 2011).

The biggest improvement is that you can now see your balances, positions and transactions in the screen. Previously you had to log into the Penson site to see any financial information.

This was a big complaint of mine and many other investors – I’m really glad they are finally fixing it. You still need a separate login to access the trading webpage, so perhaps removing that extra login could be a future project.

Here are some other changes:

  • Dividend purchase plan – More stocks and ETFs will be included in this program.
  • Account setup will be streamlined – Opening multiple accounts will be much easier. Information you provide for the first new account will be used to pre-populate the application form for any subsequent new accounts.
  • New account numbers – This isn’t an improvement (unless you had an unlucky account number), but it’s important to be aware of this. If you use a bill pay function to fund your account, they will have to be modified to reflect the correct account number.

Read my Questrade discount brokerage review.

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