Opening an account

Opening your first Questrade account with the QuestMobile app is easy, straightforward, and should take less than 15-20 minutes to complete. We’ve created this short guide to help walk you through the steps required when getting started.

Before you get started

Here’s what you’ll need before starting your application.

• Government-issued photo ID
• Your Social Insurance Number (SIN)

At this time, you can open the following accounts through the QuestMobile app:

• Tax-Free Savings Account (TFSA) (self-directed or Questwealth Portfolios)
• First Home Savings Account (FHSA) (self-directed or Questwealth Portfolios)
• Registered Retirement Savings Plan (RRSP) (self-directed or Questwealth Portfolios)
• Individual Margin Account (self-directed)
• Individual Cash Account (self-directed or Questwealth Portfolios)

Creating your Profile Pt. 1

Please follow these steps to complete the first part of your account application. Once you finish these four steps, your progress will be saved, and you can come back to finish your application at any time.

1. Enter your full legal name as it appears on your ID
2. Next, enter your email address and your phone number
3. Create a unique username and password
4. Please agree to receive personalized communications from us

Account set-up Pt. 1

After you complete the steps above, you’ll be asked to choose between self-directed investing (do your own trading/investing) or Questwealth Portfolios (a pre-built portfolio that’s managed for you), as well as which account type (TFSA, RRSP, etc.) you’re opening. We will outline the account opening process for both below, starting with self-directed accounts.

On the next page, you will have the option to enter an offer code. To learn more about these, you can read more here.

The opening process will differ depending on if you are opening a self-directed account or a Questwealth portfolio.

 Creating your Profile Pt. 2

Next, you’ll be asked to enter and confirm some personal information for your Profile that is required by our regulators.

1. Add your residential address
2. Enter your date of birth
3. Confirm your marital status
   • If you’re married, you may need to add some basic information about your spouse to your account

4. Verify both your email address and phone number

5. Confirm your employment status & the details of your employer
   • Please note: We will not contact your employer, this is required for regulatory reasons

6. Enter additional employment information

Next, you'll need to answer some financial questions:

1. Confirm your annual income

2. Enter your approximate assets and liabilities

3. Confirm your Canadian tax residency status and enter your Social Insurance Number (SIN)

   • This is required by our regulators, and can be used to confirm your identity when opening your account

   • Tip: If you select Yes to confirm your identity via SIN, this can help reduce the amount of documents required when opening your new account. Your credit score is not affected by this identity verification.

4. Confirm if any of the statements shown apply to you (i.e. reporting insider, etc.)

After this last step, your progress is saved and, if needed, you can pick up where you left off at a later time from any device.

Account set-up Pt. 2

Next, answer some quick questions about your new account:

1. Select what you’re using the account for, such as retirement, investing, etc.
2. Select if you would like to trade options or not
3. Read the different customer agreements for your accounts and tap the green I accept button to accept
   • There may be multiple agreements required depending on the type of account you’re opening
   • Once your agreements are saved, we’ll create your Account number, and save your progress again
4. Choose which security holder materials you’d like to receive (i.e. shareholder voting forms, etc.)
   • Select which language you’d like these in
   • Choose if you’d like to share your personal details with the issuers of the securities you invest in directly

Submitting your documents

After the agreements, there’s a few documents left to E-sign, and you may also be required to submit a copy of your photo ID.

1. Please tap the green E-sign button, then read and accept the agreements in the pop-up window
2. If we require a copy of your ID, you’ll be directed to choose what type of ID you’ll upload
   • For more information about the forms of acceptable ID, please see this article about photo ID
   • You can either take a new photo, or choose an image from your device’s photo library

3. After submitting your ID, you may also be asked to upload additional documents depending on the account type you’ve selected

   • If you need to submit an address or financial document, you’ll need to log in with a web browser on your phone, or through a laptop/desktop computer to finalize this last step

   
   

Congrats, you’ve finished submitting all your documents, and you’re almost finished with your account application!

Final steps

Lastly, to get started with trading and investing, you’ll need to add some funds to your new account.

The quickest and easiest way to fund your account is through Instant deposit, but other funding methods are also available.

Portfolio questionnaire

At this stage, you can outline what you are looking to get from your Questwealth Portfolio to determine a suitable portfolio for you based on your responses.

1. Enter your date of birth
2. Enter any dependents you may have
3. Input the age in which you'd like to retire
4. Confirm your approximate annual income
5. Enter your approximate assets and liabilities
6. Choose what you would like to use your investment portfolio for
7. Select whether you have invested in the past or not
8. Choose what returns you are seeking as your investment objective
9. Select how long you plan to invest for
10. Choose the option that best describes your investment knowledge
11. Select how you would feel if your portfolio’s value decreased by 10% in a few weeks
12. Select which of the investment growth or decline scenarios you are most comfortable with
13. Choose which portfolio you would like to have

Based on your answers, a portfolio will be recommended, and you can either move forward with the suggested type or redo your portfolio questionnaire.

After this last step, your progress is saved and, if needed, you can pick up where you left off at a later time from any device. 

Creating your Profile Pt. 2

1. Add your residential address
2. Confirm your marital status
   • If you’re married, you may need to add some basic information about your spouse to your account
3. Next verify both your email address and phone number
4. Confirm your employment status & the details of your employer
   • Please note: We will not contact your employer, this is required for regulatory reasons
5. Confirm your tax residency status and enter your Social Insurance Number (SIN)
   • This is required by our regulators, and can be used to confirm your identity when opening your account
   • Tip: If you select Yes to confirm your identity via SIN, this can help reduce the amount of documents required when opening your new account. Your credit score is not affected by this identity verification.
6. Confirm if any of the statements shown apply to you (i.e. reporting insider, etc.)

Account set-up Pt. 2

Next, answer some quick questions about your new account:

1. Select what you’re using the account for
2. Read the different customer agreements for your accounts and tap the green I accept button to accept
   • There may be multiple agreements required depending on the type of account you’re opening
   • Once your agreements are saved, we’ll create your Account number and save your progress again

Submitting your documents

After the agreements, there’s a few documents left to E-sign, and you may also be required to submit a copy of your photo ID.

1. Please review and e-sign the documents outlined
2. If we require a copy of your ID, you’ll be directed to choose what type of ID you'll upload
   • For more information about the forms of acceptable ID, please see this article about photo ID
   • You can either take a new photo, or choose an image from your device’s photo library

3. After submitting your ID, you may also be asked to upload additional documents depending on the account type you’ve selected

   • If you need to submit an address or financial document, you’ll need to log in with a web browser on your phone, or through a laptop/desktop computer to finalize this last step

     
     

Congrats, you’ve finished submitting all your documents, and you’re almost finished with your account application!

Final steps

Lastly, to get started with trading and investing, you’ll need to add some funds to your new account.

The quickest and easiest way to fund your account is through Instant deposit, but other funding methods are also available.

Note: The information in this blog is for educational purposes only and should not be used or construed as financial or investment advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied, is made by Questrade, Inc., its affiliates or any other person to its accuracy.