Press release
Questrade introduces USD in RSP® pricing improvements
Software upgrades allow Questrade to eliminate $5 fee in its US currency registered accountsToronto, ON (April XX, 2010) Questrade rolls out major pricing improvements to its innovative USD in RSP® service this week. Major software upgrades to its processing systems enabled the firm to end a $5 per day fee charged any day a client traded U.S. dollar securities in a registered account.
The USD in RSP service, when it was introduced, marked the first time investors could hold both Canadian and U.S. dollars in registered accounts, allowing them to trade in both the Canadian and US markets without forced currency exchange fees. This was a revolutionary service, as it eliminated a major and unnecessary cost to investors who had to settle all trades in Canadian dollars, whether they wanted to or not.
Edward Kholodenko, President and CEO of Questrade said: “When we launched our USD in RSP service in January, 2008, Questrade was breaking ground and we were working against the conventions established by every other brokerage in the country. The $5 fee was an artifact of working with older software and with this upgrade we were able to eliminate it. This is all part of our stated mission to bring transparent, fair pricing to independent Canadian investors.”
“We have been listening closely to what our clients want in a brokerage and are working hard to deliver. In fact, this is only one of a series of upgrades and additions to the firm’s products and services that will continue through the end of the year,” continues Kholodenko. “Questrade has been ranked as Canada’s fastest-growing online brokerage in 2008 and 2009. I believe the improvements we are rolling out will ensure Canadians continue to turn to us in record numbers for their investment services.”
Questrade Inc. is a member firm of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). The CIPF provides coverage to Questrade clients for up to CAD $1 million per account.
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For more information, please contact:
Lynn Suderman
Manager, Communications
lsuderman@questrade.com
Tel: 416.227.9876 x371
Tel: 1.888.783.7866 x371
www.Questrade.com
About Questrade:
Questrade was ranked in the number one position for growth of assets and trade volume by the Investor Economics’ Retail Brokerage Report in 2009. This marks the second year that Questrade earned the top spot.
Questrade Inc., headquartered in Toronto, provides Canadians with high-speed, direct access trading in the U.S. and Canadian stock and options markets as well as forex trading. Since its inception in 1999, the company has grown and diversified, and is currently ranked as Canada’s fastest-growing online brokerage. The company continues to demonstrate its competitive leadership with a combination of outstanding service, advanced technology and competitive pricing structures.
Questrade Inc.
North American Centre
5650 Yonge Street, Suite 1700
Toronto, Ontario M2M 4G3
Canada
For more information, please contact:
Lynn Suderman
Manager, Communications
lsuderman@questrade.com
Tel: 416.227.9876 x371
Tel: 1.888.783.7866 x371
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