Investing, Stock Market

Qtrade Promo Code For 2023: $150 Sign-Up Bonus 

Looking for the latest Qtrade promo code? This post got you covered.

With commissions on trading, quarterly administration fees, and other fees, it’s worth minimizing the cost of using Qtrade.

By using a promo code, you will save some cost and have extra funds to boost your investment portfolio.

This post covers the latest Qtrade promo code for new users that you can claim right away.

Photo credit: QTrade.
The new Qtrade logo is part of a brand update that sees Qtrade Investor change its name to Qtrade Direct Investing. (CNW Group/Qtrade Investor)

Let’s get started.

Qtrade Promo Code 2023

Qtrade offers a generous welcome bonus to new users which helps them reduce the cost of using the platform for a limited period.

To claim this bonus, you need a promo code. What is this code?

The current Qtrade promo code is BONUS150. By opening a new Qtrade account with this code, you will get up to a $150 bonus.

However, you must meet the following eligibility to qualify for the welcome bonus:

  • Sign up for a new Qtrade account by September 30, 2023, using the promo code “BONUS150” or this link.
  • Fund your new Qtrade account with a minimum of $1,000 and execute at least 1 eligible trade within 60 days of opening the account 
  • Get your $50 cash bonus within 60 days

You can earn up to three accounts within the promo period and get a $50 bonus on each account so long you meet the eligibility. 

Bear in mind that the bonus is only applicable to the first three 3 eligible accounts you opened. The following are the eligible account you can choose from:

  • TFSA
  • RRSP 
  • RRIF
  • RESP
  • Cash 
  • Margin 

Since there’s no minimum balance requirement, it’s easier to open the three accounts and claim the maximum $150 bonus.   

Other Qtrade Offers 

Besides the above generous welcome bonus, Qtrade also offers other promos to its clients.

Below we shall be taking a look at the additional promos at Qtrade that you may be eligible for. 

Qtrade Young Investors Pricing Offer

The Qtrade Young Investors Pricing offer is tailored to investors between 18 to 30 years of age.

With this offer, young investors get to use Qtrade with no account minimum and a $7.75 commission on equities compared to the standard rate of $8.75.

In addition, the Qtrade Young Investor Pricing offers investors the opportunity to use Qtrade without paying the standard $25 quarterly administration fees. This alone is worth $100 in savings a year. 

Bear in mind that you must make a minimum of $50 recurring monthly deposit and be between 18 to 30 years old to qualify for this offer.

Qtrade Transfer Fee Rebate

As with other investment platforms in Canada, Qtrade encourages new users to move their assets from their old brokerage to it.

When you move your assets from your old investment platform, there’s usually a transfer fee charged by the transferring institution.

By moving your assets to Qtrade, the platform will reimburse you the transfer fee of up to $150. However, you must move up to $15,000 to qualify for this offer.

All you need is to provide documentary evidence of the transfer charges to Qtrade and your transfer fees will be reimbursed up to $150.

Expired Qtrade Promos

Qtrade has been in the business of offering competitive promotions for a long time.

This is common with other Canadian brokerages as they look for ways to acquire and retain more clients.

While some Qtrade promos have expired, chances are that the platform may reactivate them in the future as is the case with the recurring welcome bonus.

In this section, you’re going to learn about some of the expired Qtrade promos that are remarkably generous.

Qtrade 50 Free Trades Promo [Expired]

The Qtrade 50 Free Trades promo was launched in 2022 to attract new clients to Qtrade.

With this promo, new clients got access to 50 free trades on Qtrade by meeting the following eligibility:

  • Sign-up on Qtrade by October 31, 2022, using the promo code “50TRADESFREE
  • Deposit or move a minimum of $10,000 to the new account by November 30, 2022
  • Hold at least $10,000 in the account till November 30, 2023

Those that meet the above requirements will get reimbursed for the trading fees charged to their account on or by December 31, 2023.

The value of this offer is about $500. This is a significant saving that can be used to boost your portfolio.

Qtrade $5,000 Cash Back Promo [Expired]

The Qtrade $5,000 Cash Back offer was another major promo of Qtrade that was second to none in 2022.

This promo offers up to a $5,000 cash back bonus to new Qtrade clients that meet the following eligibility: 

  • Sign up for a Qtrade account by April 30, 2022, using the promo code CASHBACK5000, CASHOFFER5000 or CASHBONUS5000
  • Fund or move at least $5,000 to your account by May 31, 2022
  • Have at least a $5,000 balance in your account till November 30, 2022

The bonus was issued to eligible clients by December 31, 2022. 

One thing about the Qtrade $5,000 Cash Back offer is that it’s tiered per account balance. That’s, the bonus ranges from $100 to $5,000 depending on a client’s balance.

The following table demonstrates how the bonus was shared: 

Balance Cash Back Bonus
$5,000 to $14,999$100
$15,000 to $49,999$150
$50,000 to $99,999$250
$100,000 to $249,999$500
$250,000 to $499,999$700
$500,000 to $999,999$1,000
$1,000,000 to $1,999,999$2,000
$2,000,000 and above $5,000

About Qtrade

Now that you know about the Qtrade promo code, it’s time to have a better understanding of the platform before signing up. 

Qtrade happens to be one of the leading online brokerages in Canada that provides DIY investors access to robust securities, accounts, tools, and resources to build wealth.

The platform draws strength from its excellent customer support and intuitive trading interface that makes it suitable for beginner and experienced investors.

While Qtrade is not one of the low costs out there, it reduces investors’ investment costs by offering generous promos and 100-commission-free ETFs.

The main drawback of the platform can be summarized into two: high commissions and quarterly administrative fees.

Notwithstanding, Qtrade competes significantly with other online brokerages in Canada including Wealthsimple Trade, Questrade, and TD Easy Trade.

Learn more about the platform on this Qtrade review.

Is Qtrade Safe?

As per the industry standard, Qtrade is safe. The safety of online brokerages can be measured on three major aspects.

  • Company standard 
  • Assets coverage
  • Regulation

Fortunately, Qtrade ticks good in all the above areas. This is because the platform is managed by Aviso Wealth, a top wealth manager in Canada with approximately $100 billion in assets under administration.

Secondly, assets on Qtrade are covered by the Canadian Investor Protection Fund (CIPF) up to $1 million per insured account. 

In addition, the Canada Deposit Insurance Corporation (CDIC) insured deposits on Qtrade GIC accounts up to $100,000 per insured category.

The last but not least safety factor is that Qtrade is regulated by the Investment Industry Regulatory Organization of Canada (IIROC).

In summary, Qtrade is safe to invest with. 

Is it Worth Joining Qtrade?

You need to look beyond the promos if you want to make an informed selection of the best brokerage in Canada.

This is because promos last for only a short time and the long-term reality with a platform will determine your actual experience.

As noted earlier, there are many good things to like about Qtrade including:

  • Generous promotions
  • No minimum balance
  • 30-day free trial
  • Access to commission-free trading of over 100 ETFs.
  • Access to multiple account options and securities
  • Robus trading tools
  • Superb Customer care service:
  • Expert-level educational resources: 

However, when compared with other online brokerages, you will quickly realize that Qtrade is not among the cheapest options. This is because it charges:

  • above-average commissions ($8.75) and
  • a $25 quarterly administration fee  

With a brokerage like Wealthsimple Trade, you can do without commissions and quarterly administration fees. 

So if you’re concerned about fees (you have every reason to be), then you need to think twice before opening a Qtrade account.

But if the fees are not so much of a headache, then you may likely find Qtrade a suitable option considering its unique features.

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Wrapping Up

There you have the Qtrade promo code discussed in its totality.

However, you shouldn’t rush into claiming the code without having a broader understanding of what Qtrade entails. 

I recommend you read this Qtrade review and compare Qtrade with other online brokerages (like Wealthsimple Trade and Questrade) before finalizing. 

If you need more clarification about the Qtrade promo code, don’t hesitate to let me know through the comment section or contact page
Visit our Investing Archive to increase your knowledge about the Canadian investment industry. 

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About John Adebisi

John Adebisi is a CPA, FCCA and MBA holder with a Bachelor's degree in Accounting & Finance. He has over a decade of experience in writing personal and business finance content for audiences across North America, Europe, the UK and Africa. In addition to his writing experience, he also has a strong background in financial research and analysis, giving him a unique perspective of the financial markets. John derives pleasure in helping people make smart financial decisions, and he believes that knowledge and experience can be valuable resources for anyone who wants to learn how to manage their money.

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