EFT is an easy method to move money between your financial institution and your online brokerage account and is set up directly on your online brokerage account.
As an alternative to using EFT to fund your account, your financial institution may offer bill payment functionality on its web site. Simply search for and add 'Qtrade Investor' as a payee. Bill payments are usually credited to your account within 2 business days.
Funds transferred via bill payment are fully available once received by Qtrade. EFTs are subject to a 10-business day hold before the funds can be transferred out again or before you can place certain trades.
Third- party bill payments are not accepted. All bill payments must be made from a bank account in the same name as your account.
The first step is to open a Qtrade Investor account. Once you have completed the new account application, you can complete the transfer form. If you need assistance completing these forms, please call us at 1.877.787.2330.
To transfer your account faster, please ensure that you sign the form and:
- Indicate whether you want the transfer to be "In-Cash" or "In-Kind" and whether you want to transfer all or only a part of your portfolio
- Include a copy of your most recent statement from the transferring institution
If you are already a Qtrade Investor client, simply login and use the online account transfer service.
Transferring assets from another brokerage typically takes between two to six weeks. The timeframe depends on how quickly the relinquishing institution processes the paperwork that it receives from Qtrade.
Qtrade Investor will reimburse your transfer-out fee up to $150 when transferring an account with a balance of $15,000 or more. For reimbursement, please mail or fax (604.484.2627) a copy of your statement from the transferring institution that shows the transfer charge to Qtrade Investor and indicate your Qtrade Investor account number.
Typically transferring an account from another financial institution takes 2 to 3 business days. The timeframe depends on how quickly the relinquishing institution processes the paperwork that it receives from Qtrade. If we have a question regarding the information on the transfer form, we will reach out to you by email to clarify. You can track the status of your transfer by going to My Accounts → Transfer Funds/Transfer an Account/Transfer History.
Cash Transfer: Electronic Funds Transfer (EFT) is the simplest way to transfer money into your account from your banking account. Once your account is set up for EFT, you can transfer funds online by selecting 'Account' and then selecting 'Funds Transfer'. If you would like to take advantage of our EFT service but did not request it in your application, please print the Electronic Funds Transfer (EFT) Set-Up Form, sign it, and forward it to us with a void cheque from your financial institution, or call us for more information. Alternatively you can add money in the same way you would pay a bill from your credit union/bank account.
Account Transfer: To transfer securities or an entire account from another firm to a Qtrade account, please use our eTransfer service. Transfers from another Canadian brokerage can generally be done electronically with no need to send us signed paperwork. Transfers from other institutions, such as a bank or mutual fund company, require a transfer form to be printed, signed, and mailed to us.
Withdrawals from a registered plan can be requested by completing and submitting a RSP / RIF / TFSA Deregistration Form which can be found in the Forms section of our website.
Please fax, mail or email a scanned copy of the Deregistration Form to us upon completion for processing.
Please allow 1 to 2 business days for the funds to arrive in your Qtrade account. To set up a Bill Payment, log in to your credit union or bank account and go to the bill payment section. Add "Qtrade Investor" as a payee and enter your 8-digit account number and then send money by entering an amount and a date. Once the funds are "cleared" and you can expect them to be credited to your account within two business days.
Please note third-party bill payments will not be accepted. All bill payments must be made from a banking account that is in the same name as your Qtrade account and it can take up to two days for funds to appear in your Qtrade account. Click here to learn more about funding your account.