Binary Options Questrade
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Questrade is a Canadian based financial service provider that prides itself on offering traders with a democratically priced online binary options and stock trading platform. Their trading system is solid, offering investors of all types a variety of trading tools, a competitive commission structure and access to commodities such as trading in physical gold. Because of their direct access technology, a reputation for great customer service and speedy execution of trades, this company has fast become one of the fastest growing brokerage firms in Canada.
Major Features of Questrade
Besides the standard Call and Put option contracts, Questrade offers a variety of innovative contracts as well. These include single-leg and multi-leg trading strategies as well as mini option lots for both American and European style options. In addition, the broker provides its IQ trading platforms to all of their traders free of charge. The IQ platforms have advanced capabilities that include market data, research and built-in charting right at the trader’s fingertips. In addition, Questrade continually strives to keep their binary options commissions low and their structure easy to understand.
Mini Option Lots
One of the key selling points for this broker is the fact that they offer mini trading lots. This simply means that traders are allowed to trade in smaller than normal lots. For example, standard options contracts are traded in lots consisting of 100 shares. With mini lots, traders can trade in lots as small as 10 shares. The result is that higher priced securities become more affordable and accessible to options traders. Mini lots also form a good starting point for traders who are new to binary options.
Benefits of Trading On Questrade
On all four of the Questrade platforms (IQ Web, IQ Edge, IQ Mobile and IQ Essential), a trader is allowed to trade any mini or standard lots that are available on North American stock markets. Multi-leg strategies can also be taken by traders on the IQWeb and IQ Edge platforms. These strategies can then be reviewed on the IQ Web and IQ Essentials platforms. For traders who are new to this type of trading, there are extensive resources available within the Questrade help library.
How Much Does Trading On Questrade Cost?
The cost of trading on the Questrade platform depends on which package a trader is signed up to – with most traders on Standard or Advantage accounts. With Standard trading accounts, the cost of placing a trade is $9.95 + $1.00 per contract. With the Advantage Accounts, trades are priced at $6.95 + $0.75 per contract.
Questrade is a broker that offers services tailor-made for the Canadian based trader. The broker also allows clients to trade in US stocks and have US cash in their trading accounts. Questrade is regulated by the Investment Industry Regulatory Organization of Canada and is a member of the Canadian Investor Protection Fund, which offers coverage of investor deposits.