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Thread: ATTN: Questrade Users, am I getting scamme??

  1. #1
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    Mar 2010
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    Default ATTN: Questrade Users, am I getting scamme??

    Hi, I was just wondering if some traders could give me some advice and let me know if I'm getting scammed. First off I am a newbie trader, just started in February. I want to try to keep it short but will apologize if it's long.

    Anyways, I track all of my trades on Excel: profits, losses, etc. To date I have made $180.XX (after commissions and all). BUT It seems like Questrade is constantly taking money out from my account everyday. Everyday when I check my balance, even when there is no activity, my account balance gets lower and lower. Mind you, this is a CASH account, there is NO MARGIN.

    Example, 3 days ago I had in my account $400 CDN. I made no trades until yesterday I noticed my account had dropped to $393 CDN, why?? (My currency settlement is also in CDN so I don't understand why I would have lost $6). I bought some stocks which cost me a total of $388.XX total incl. commissions. My account balance showed I had $4.XX left over. Today, I check my account and all of a sudden my balance is $-1.89, yup a negative, why??

    My account is not a margin account, I obviously had enough money in my account to successfully purchase the stocks for $388.

    Long story short, I noticed way before that I was consistantly losing money for no reason but thought it was because I had USD in my account and was losing because of the USD was lower than the CDN... but still, I don't understand why they were converting my USD to CDN everyday when I specifically asked to keep my funds in USD.

    I plan on calling Questrade on Monday and I'm not sure what to ask because to date, I have lost the $180 in my account that I should have. I track all of my profits and losses, and I'm above.

    Last edited by EscaBoi; 04-17-2010 at 08:41 PM.

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