The following agreement (the "Agreement") applies to your use of the Aviso Wealth, comprised of Credential Qtrade Securities Inc. (including Qtrade Investor, Qtrade Advisor and CQ Correspondent Partners, collectively, "Credential Qtrade Securities"), Qtrade Asset Management Inc. ("Qtrade Asset Management"), Qtrade Insurance Solutions Inc. ("Qtrade Insurance Solutions") and OceanRock Investments Inc. ("OceanRock") website and mobile app (collectively, the "Web Products"). By using or accessing the Web Products, you agree to be bound by this Agreement. Your use of the Web Products is governed by the versions of this Agreement in effect on the date the Web Product is accessed by you. Qtrade may modify this Agreement without prior notice. This Agreement is in addition to any other agreement that governs your use of products, services, tools, content and information available on the Web Products. Qtrade may terminate your access to the Web Products for any reason without prior notice.
Qtrade Investor is the online brokerage division of Credential Qtrade Securities.
Qtrade Advisor is the full service brokerage division of Credential Qtrade Securities.
CQ Correspondent Partners is the correspondent and institutional services division of Credential Qtrade Securities.
Credential Qtrade Securities is a federally incorporated company with registered offices in Vancouver, British Columbia. Credential Qtrade Securities is a registered broker in each Canadian province and territory in which it accepts accounts, and is a member of both the Investment Regulatory Organization of Canada and the Canadian Investor Protection Fund.
Qtrade Asset Management is a federally incorporated company with registered offices in Vancouver, British Columbia. Qtrade Asset Management is a registered mutual fund dealer in each Canadian province and territory in which it accepts accounts, and is a member of both the Mutual Fund Dealers Association of Canada and the Investor Protection Corporation.
Qtrade Insurance Solutions is a federally incorporated company with registered offices in Vancouver, British Columbia. Qtrade Insurance Solutions is licensed as a life, accident and sickness insurance agent (or similar) in BC, Alberta, Ontario, Saskatchewan, Manitoba and Nova Scotia.
OceanRock offers a comprehensive suite of managed portfolios and individual funds sub-advised by leading investment managers from around the world to the retail public as well as the customers of our financial institution partners across Canada. OceanRock is a registered Portfolio Manager and an Investment Funds Manager and has the following operating divisions:-
- OceanRock Mutual Funds is comprised of individual OceanRock funds and diversified OceanRock portfolios. The OceanRock portfolios offer a number of portfolios to suit different investor needs. Each portfolio strategically combines fixed income and equity investments to match specific investor profiles — whether an investor is income-focused, growth-oriented or somewhere in-between.
- Meritas SRI Funds focus exclusively on socially responsible investment mandates. As leading provider of socially responsible investment solutions, clients can choose from the individual Meritas funds or opt for a diversified Meritas portfolio. The Meritas portfolios offer a number of portfolios to suit different investor needs. Each portfolio strategically combines fixed income and equity investments to match specific investor profiles — whether an investor is income-focused, growth-oriented or somewhere in-between.
Trademarks and copyrights
Certain names, words, titles, phrases, logos, icons, graphics or designs found in the Web Products (or other websites accessed from www.qtrade.ca) may constitute trade names, trademarks or service marks, either registered or unregistered ("Trademarks") of Qtrade, any of its member companies, their respective associates or affiliates, or of third parties and are used under license by Qtrade. Images logos and pictures bearing the name or words "Qtrade", "Qtrade Investor", "Qtrade Advisor", "CQ Correspondent Partners", "Credential Qtrade Securities", "Qtrade Asset Management", "Qtrade Insurance Solutions", "OceanRock Investments", "Meritas" and "VirtualWealth" are Trademarks of the Qtrade and are protected by trademark and copyright laws in Canada and other countries. The display of Trademarks on the Web Products does not imply that any license has been granted to any third party. All information on the Web Products is protected under the copyright laws of Canada and other countries. Users of the Web Products may copy any information for their own personal use but may not republish or reproduce any such information in any manner, including electronic reproduction by "uploading" or "downloading", without the prior written consent of Qtrade. No one has permission to copy, redistribute, reproduce or republish, in any form, any information found in the Web Products. Any product, process or technology described in the Web Products may be the subject of other intellectual property rights reserved by Qtrade, or its licensors, and are not licensed hereunder. Any unauthorized downloading, retransmission, or other copying or modification of Trademarks or other contents of the Web Products may be a violation of statutory or common law rights which could subject the violator to legal action.
As an account holder, you agree that you are solely responsible for the confidentiality and security of your login names, account numbers, and passwords (including both your account and trading passwords). You agree not to disclose your passwords to any person and keep them secure. You further agree that you are responsible for all orders entered through and under your login names, passwords, and account numbers, and any orders received by Qtrade or any member company in this manner are deemed to have been received from you. All orders shall be deemed to be made at the time received by Qtrade, or any member company, and in the form received. You acknowledge that your passwords are unique to you and that we do not have access to them.
In order to protect against the loss, theft, misuse or compromise of your confidential Qtrade data, as an account holder you acknowledge and agree that you have reviewed and are complying with your "Customer Responsibilities" as set out in our Internet Security Policy.
No solicitation and jurisdiction
Products and services of Qtrade are only offered in jurisdictions where they may be lawfully offered for sale. Some of the products and services of Qtrade may only be available in certain jurisdictions. Any product or service mentioned on the Web Products is available only in accordance with local law and only where it may be lawfully offered for sale. All products and services are subject to the terms of the applicable agreement. The information on the Web Products does not constitute an offer or solicitation by anyone in any jurisdiction in which an offer or solicitation cannot legally be made, or to any person to whom it is unlawful to make a solicitation. To find out products and services available in your jurisdiction, please contact us at 1.877.787.2330.
Use of web products
The information on the Web Products is subject to change without notice. Qtrade is not responsible in any manner for direct, indirect, special, incidental or consequential damages, losses or expenses, however caused, including any loss of use, lost or incorrect data, lost profits, business interruption, personal injury, or any other pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action, arising out of your use of the Web Products and/or any web browser and/or in reliance on information available on the Web Products, including any damages you may suffer if you transmit confidential or sensitive information to us or if we communicate such information to you at your request over the Internet.
No endorsement of other sites
Links to other websites from the Web Products are for your convenience only. No endorsement of any independent third party products, services or information is expressed or implied by any information, material or content of a third party contained in, referred to, included on, or linked from or to the Web Products. Any information, data, opinions, or recommendations provided by independent third parties through links to other websites or otherwise made available through the Web Products are solely those of the independent third party and not of Qtrade or any of its member companies.
No liability for information or data and no advice
Information contained in the Web Products is provided by Qtrade for informational purposes only and is not intended to provide, and should not be relied upon as providing legal, accounting, tax, financial, investment or other advice, or solicitation to buy or sell securities.
Information provided by Qtrade and any of its member companies and information provided by other sources on the Web Products is not subject to any guarantee as to accuracy, completeness or currency. Neither Qtrade, any of its member companies, nor any third party owner, licensor or supplier of information used or made available through the Web Products, including market data, quotation information and databases, news, articles, text, graphs, audio clips, video clips, broadcasts, and seminars ("Data") makes or is liable for any representation, warranty or condition, whether express or implied, concerning the Data or the use thereof including, without limitation, that (i) the Data will meet your needs, or that the Data will be available for use at any particular time or for any particular purpose or will be error free, or (ii) the Data is up-to-date, accurate, in sequence, reliable, complete or suitable for any purpose. Without limiting the foregoing, "real time" quotes viewed on the Web Products, particularly in times of high volumes of trading and market volatility, may not be reflective of the current trading price of a security. Further, all express or implied, direct or indirect, representations, warranties and conditions in respect of Data arising or implied by statute, common law, custom, usage of trade, course of performance, course of dealing or otherwise, including but not limited to any warranties or conditions of merchantable quality and fitness for a particular purpose are expressly excluded. All the Data is protected by copyright and each supplier of the Data reserves all proprietary and intellectual property rights therein. You shall not reproduce, retransmit, disseminate, sell, rent, distribute, publish, broadcast, circulate or commercially exploit the Data provided through the Web Products in any manner or furnish it to any other person without the prior written consent of Qtrade and the relevant supplier. The user of the Web Products shall use the Data accessible through the Web Products only for their individual use, and shall indemnify and hold harmless Qtrade, each of its member companies, its affiliates and each supplier of Data from any losses or liabilities incurred as a result of the user's breach of the foregoing provisions or other misuse of the Data. You agree that the terms of this Agreement may be enforced directly against you by each supplier of Data.
Rates and fees
We strive to keep rates and fees posted on the Web Products current. However, rates, fees, and related information are subject to change at any time with 60 days prior notice to account holders and the posted rates and fees on the Web Products may not reflect such changes.
Foreign currency conversions
Trades in currencies other than the currency of the account in which the trade is to settle require currency conversion. We act as principal when converting currency for such transactions at rates established or determined by us. We may earn revenue on the spread between the bid and offer rates for the currency and the rate at which the rate is offset in the market. Any currency conversions will take place on the trade date unless otherwise agreed.
Best Execution and Multiple Marketplaces Disclosure
Credential Qtrade Securities has established policies and procedures in accordance with Best Execution and Order Protection regulations such as Investment Industry Regulatory Organization of Canada (“IIROC”) Dealer Member Rule 3300, Universal Market Integrity Rule (“UMIR”) 5.1 and National Instrument 23-101 Parts 4 and 6.
Credential Qtrade Securities is committed to ensuring all reasonable efforts are made to achieve best execution for all our client’s orders and our Introducing Broker client’s orders, where best execution means obtaining the most advantageous execution terms reasonably available under the circumstances.
The policy applies to business conducted by Credential Qtrade Securities with its clients and applies to listed and over-the-counter securities.
Hours of Operation for Trading in Canadian Securities
Credential Qtrade Securities trading staff and systems will be available for order execution during marketplace hours of 9:30 AM and 4:00 PM EST, Monday through Friday, excluding Canadian statutory holidays. Trading staff may be available at other times outside of these hours, however Credential Qtrade Securities cannot guarantee any order taking and/or trade execution outside of the noted marketplace hours.
Credential Qtrade Securities does not currently offer trading services in pre-market or post-close listed markets in either Canadian nor foreign markets. Credential Qtrade Securities does offer trading in over-the-counter (“OTC”) markets outside normal market hours on a best efforts basis.
Credential Qtrade Securities pursues the execution of each order on the most advantageous terms and as expeditiously as practicable under prevailing market conditions. Credential Qtrade Securities clients do not need to choose a specific marketplace when entering orders as any order will be routed to the marketplace that will provide the best execution.
There are currently several marketplaces in Canada for the trading of listed securities, including traditional Exchanges and Alternative Trading Systems (“ATS”). Credential Qtrade Securities participates in all Canadian Exchanges and most ATS, including those marketplaces where quotes are not protected under current Canadian Order Protection Rules.
Unless otherwise notified by Credential Qtrade Securities, the default marketplaces for all securities listed on the Toronto Stock Exchange (“TSX”) or the TSX Venture Exchange (“TSXV”) will be the TSX or TSXV, whether or not the security is trading on other marketplaces. Similarly, for securities listed on the Canadian Stock Exchange (“CSE”) or Aequitas NEO Exchange Inc. (“NEO Exchange” or “NEO”), those securities will default to trading on those marketplaces respectively.
Credential Qtrade Securities currently routes to the following Canadian Protected marketplaces:
- Aequitas Lit Book (protected for NEO listed securities only);
- CSE (protected for CSE securities only);
- Montreal Exchange;
- Nasdaq CXC;
- Nasdaq CS2;
- Omega ATS;
- TSX; and
Credential Qtrade Securities also routes to the following unprotected marketplaces:
- Aequitas Lit Book (for other exchange’s listed securities);
- Aequitas NEO Book;
- CSE (for other exchange’s listed securities);
- Lynx ATS;
- TriAct Canada Marketplace LP MATCHNow; and
- TSX Alpha
Credential Qtrade Securities currently does not route to the following Unprotected marketplaces however may do so where market conditions and liquidity requirements would warrant such action:
- Liquidnet; and
- Nasdaq CXD
Credential Qtrade Securities does not direct client orders in Canadian listed securities in bulk to a foreign intermediary. A client through their advisor may choose to direct inter-listed or foreign securities for execution. In which case, Credential Qtrade Securities uses foreign intermediaries, Pershing LLC, Virtu Financial, Citigroup Global Markets Inc. and Citadel LLC, to facilitate client initiated trading, where they are obligated to satisfy best-execution requirements in those jurisdictions. Credential Qtrade Securities has reviewed the intermediaries order handling and routing practices and are satisfied they are reasonably designed to achieve best execution in accordance with their respective Regulations.
Best Execution Factors
Credential Qtrade Securities will consider the following broad factors when searching for best execution: price (bid and ask), speed, certainty of execution, overall cost of the transaction and any other factor relevant to the execution of the order.
Credential Qtrade Securities utilizes an electronic Smart Order Router (“SOR”) to ensure best execution and order protection. The SOR will seek the best marketplace(s) at the time of order entry. Best execution will be determined by consolidated market view or other price discovery mechanisms such as call auction or other pricing systems, whether the security trades on a listed or foreign marketplace or whether the security trades OTC.
The primary objective of the SOR is to achieve the best possible outcome for our clients. Credential Qtrade Securities interactions with execution venues are guided by objectively observed and calculated parameters.
Subject to various client or market requirements, including the specific security, size of the order, market conditions or jurisdiction, orders will be routed to or executed on the marketplace in the case of a sell with the highest bid price and in the case of a purchase the marketplace with the lowest ask price.
The SOR may potentially break the client orders into smaller sized “child orders” and send them to one or many execution venues, either in parallel or in sequence. We are responsible for determining the precise quantities, limit prices and timing of each child order, always respecting the client’s original instructions. Best execution obligations will be applicable on the child orders as well as on the overall original client order.
In the case of non-marketable Limit Orders, orders will be placed on the marketplace that Credential Qtrade Securities views would provide the best execution, typically the Exchange where the security has been listed.
Marketplace Fees and Rebates
Credential Qtrade Securities’ primary mandate is to abide by best price and best execution regulations by using SOR for all orders and will seek to improve the Protected quote in accordance with Canadian price improvement Regulation. Secondary mandate is to minimize costs so we can offer competitive commissions to our clients. Credential Qtrade Securities may pay marketplace fees or receive marketplace rebates as orders are routed to certain marketplaces. Marketplace fee schedules are made publically available by each marketplace and are governed by Canadian Securities Administrators Regulations. Marketplace and intermediary rebates and fees are not directly passed on to the client and the marketplace an order is executed on does not change our commission rate. Credential Qtrade Securities routing decisions are based on marketplaces or intermediaries ability to provide best execution at the lowest cost available.
Standard Routing of Orders
Immediately executable orders received for Canadian listed securities are routed to the marketplace with the best bid or offer and the remainder of each order, if any, residing on the default marketplace.
An order received prior to the default marketplace opening, 9:30 AM EST will be queued in the SOR where it will be routed to the best marketplace(s) for execution on opening in accordance with the respective marketplace calculated opening price protocol.
An order received after the default marketplace closing, 4:00 PM EST will be queued in the SOR for routing to the best marketplace(s) for the opening on the following business day.
An order received during the default marketplace trading hours will route via the SOR where it will seek the best marketplace(s) at the time of entry.
If any portion of an order cannot be immediately filled, the remaining unfilled portion will remain in the default marketplace order book until filled, expired, changed or cancelled.
Changes to an existing order or portion of an outstanding order will be handled in the same manner as a new order subject to the same routing outlined above, seeking the best marketplace(s) at the time of the change.
Order Types and Execution
Certain types of orders have specific handling implications when multiple marketplaces in Canada exists:
Day Orders: A Day Order is an order that is only valid for the day it is entered, between the principle marketplace hours of 9:30 AM and 4:00 PM EST. Day Orders are handled in accordance to the “Standard Routing of Orders” noted above. All Day Orders that are not filled and unfilled portions, will expire upon the close of the marketplace where the last portion of the order remains live, unless otherwise agreed to between the client and a Trader, Investment Representative, Registered Representative or Advisor of Credential Qtrade Securities.
Market Orders: A Market Order is an order intended to be executed immediately, to buy or sell a security at the best available price at the time the order is entered. Market Orders will be handled in accordance to the “Standard Routing of Orders” noted above. Unfilled portions of a Market Order will expire upon the close of the marketplace where the last portion of the order remains live.
Open Orders: Open orders will be originally entered in the same way as “day orders”. Once posted the order will remain there until the order is filled or expired.
Limit Orders: A Limit Order is an order with specific minimum sale or purchase price set by the client that is not to be exceeded. Limit Orders will be handled in accordance to the “Standard Routing of Orders” noted above.
Special Terms Orders: Special Terms Orders are orders with specific terms, that are not executable in the regular marketplace. These orders will be booked to the Special Terms Market of the default marketplace, unless they are immediately executable on an alternative marketplace at the time of order entry. Special Terms Orders will expire at the close of the default marketplace.
Stop Loss Orders: A Stop Loss Order is an order that becomes a Market Order or a Limit order when a standard trading unit trades at or superior to, the stop price on the marketplace in which the stop loss order has been booked. Stop loss Market Orders are filled at the best available market price once the "on stop" is activated. If the order is filled when the security or overall market is experiencing rapid price declines, the client may receive a fill price that is much lower than expected. Clients may place stop loss Limit Orders, stop loss Limit Orders allow clients to set the lowest price they are prepared to sell at once the "on stop" is activated, creating a price range for the sell order.
If a trading halt is announced for a specific security in a particular marketplace, all orders for that security will be halted and remain in that marketplace and trading will not occur until the halt has been lifted.
In the event of technical difficulties or other situations where Credential Qtrade Securities’ access to certain marketplaces or routing systems are limited or unavailable, orders received will be directed to the default or alternative marketplace as determined by the circumstances that exist in the marketplace at the time, consistent with the client’s best interest.
Disclosure of Marketplace
An order that is executed on one or more marketplace or alternative marketplace will be disclosed on the trade confirmation that will generally read “We confirm the following Sale/Purchase for your account on one or more Canadian Marketplaces”. Clients may contact Credential Qtrade Securities to obtain full details of the order execution.
Market data and quotation information provided are on a 15 minute delay, with the exception of real-time TSX and TSXV marketplace data where indicated. Market data is provided by external suppliers and is for informational purposes only and is not intended to provide, and should not be relied upon as providing legal, accounting, tax, financial, investment or other advice, or solicitation to buy or sell securities. Market data is not subject to any guarantee as to accuracy, completeness or currency, trading with incomplete or delayed market data may result client order entry instructions that may not be reflective of current marketplace conditions. Please refer to ‘No liability for information or data and no advice’ section for further details.
This policy is current as of September 4, 2018.
Changes to this policy may be made from time to time at the sole discretion of Credential Qtrade Securities. Changes will be posted to Credential Qtrade Securities’ website with the previous policy also maintained on the website for a period of at least 6 months from the effective date of the change.
Please find the previous version here.
Each applicable member company of Qtrade endeavours to offer customers an electronic trading service that is easy to use, reliable, secure, and capable of meeting its customers' trading and investment needs. From time to time, however, interruptions, errors or other deficiencies in service may occur. This may be due to a variety of factors, many of which are outside our control, including interruptions in the accessibility of the Internet, a system outage in facilities of a third party service provider (including stock exchanges, Data providers, and middleware and back office service providers), and market conditions that may result in general market volatility, volatility affecting a particular security or class of securities, or heavy demand and high volumes of trading activity. Each of these factors can contribute to delays or errors in service or system outages. Customers may experience difficulties accessing their accounts and placing and canceling orders. Trade execution may thereby suffer. Your use of electronic, online, and automated telephone services, software, systems and facilities made available by Qtrade, including those associated with the name of any member company of Qtrade, are made available to you "as is" and "as available" and are subject to the following terms and conditions:
- Systems are not guaranteed: Neither Qtrade, any of its member companies, third party owners, licensors or suppliers of equipment, software, systems, services or facilities used or made available in connection with a service offered by Qtrade (the "Systems") is liable for any representation, warranty or condition, whether express or implied, concerning the Systems or the use thereof, including, without limitation, that the Systems will meet your needs or that the Systems will be available for use at any particular time or for any particular purpose or will operate error free. Without limiting the foregoing, all express or implied, direct or indirect, representations, warranties and conditions in respect of the Systems arising or implied by statute, common law, custom, usage of trade, course of performance, course of dealing or otherwise, including, but not limited to, any warranties on conditions of merchantable quality and fitness for a particular purpose are expressly excluded; and
- Limit on Liability: The user of the Systems agrees that the Qtrade and its member companies will not be liable for any loss or damage resulting from use of the Systems, including but not limited to loss or damage resulting from failure of electronic or mechanical equipment or communications lines, the Internet, telephone or other inter-connect problems, power failure, or third party system failure.
Warning regarding volatile markets
In times of market volatility and high trading volumes, including both at market opening and during the trading day, and including situations of high volume trading of so-called "hot stocks", customers of brokerage services may experience delays in the execution of their orders for securities. A delay in the processing of a market order placed through a brokerage service during a period of market volatility or high trading volume may expose the customer to the risk of trade execution at a market price that is significantly different from the market price of the security at the time the order was placed. Once an order is placed, it may be difficult or impossible to cancel the order before the order is executed. In such circumstances, Qtrade and its member companies bear no responsibility to the customer for the discrepancy between the market price of the security at the time of order placement and the market price of the security at the time of trade execution.
To minimize the risk in this situation, customers should consider the advisability of placing limit orders in lieu of market orders, limiting the price at which the customer's order will be filled. If you place a market order, the broker is required to execute the order at the earliest opportunity without regard to price at the time of execution. Limit orders, however, will be executed only at a specified (limit) price or better. While the market for the security may be such that the customer's limit order does not get filled, this outcome may be considered more desirable than the risk of a fill at an undesirable price.
Unless otherwise provided in an agreement with Qtrade or any of its member companies, the laws of the province of British Columbia and the federal laws of Canada applicable therein govern as to the interpretation, validity and effect of the provisions of this Agreement notwithstanding any conflict of laws provisions or your domicile, residence or physical location. You consent and submit to the non-exclusive jurisdiction of the courts of the province of British Columbia in any action or proceeding instituted under or related to this Agreement.
While we strive to deliver an exceptional client experience, we understand that issues and disagreements may still arise. Client complaints and concerns can be emailed to firstname.lastname@example.org or mailed to Suite 1920, One Bentall Centre, 505 Burrard Street, Box 85, Vancouver, BC V7X 1M6 to the attention of the Chief Compliance Officer. A copy of our Complaint Handling Procedures may be found in the Customer Agreements and Disclosures Documents.