Enthusiastic reception from independent investors greets Questrade's myRSP™ — a comprehensive bundle of registered account products and services

February 17, 2010 (PRLEAP.COM) Business News
Toronto, ON (February 17, 2010) – Questrade's introduction in January of myRSP™, a suite of RSP-related products and services, is being enthusiastically welcomed by self-directed investors.

"Based on the initial reception by our existing and new clients, myRSP clearly hits the sweet spot with investors," says Edward Kholodenko, President and CEO of Questrade. "The feedback is pretty clear: Canadians want to manage their own retirement plans and they want access to innovative brokerage services like trailer fee rebates in Mutual Fund Maximizer, gold bullion trading, and an RSP that can hold and trade in both US and Canadian dollars."

MyRSP gives investors the power to leverage all of Questrade's unique registered account brokerage services. Tailored for RRSPs, TFSAs and RESPs and other registered account types, this suite of services are only available to Questrade clients. The three most popular RRSP innovations are gold bullion trading, USD in RSP and Mutual Fund Mazimizer.

Gold bullion trading, introduced in January 2007, is available in standard and all registered trading accounts. Questrade's service allowing clients to trade gold bullion on the spot market within an RSP continues to be the only one of its kind in Canada. For RSP accounts, including tax free savings accounts, the gold can be stored and allocated at the Royal Canadian Mint.

USD in RSP was rolled out at the beginning of 2008 in direct response to the industry practice of forcing currency conversions on investors who bought or sold equities in the U.S. market. Questrade's service allows traders to hold both U.S. and Canadian dollars in their registered accounts, which in turn allows them to avoid the fees associated with currency conversions. Questrade continues to be the only brokerage that allows RSP accounts to hold both currencies.

Mutual Fund Maximizer was launched in 2009. This service allows clients to recoup the trailer fee, a cost automatically embedded in the MER (management expense ratio). The trailer fee was originally designed by mutual fund companies as a commission for full-service brokers who recommended the fund company products to investors. Even though Questrade clients make their own investment decisions, the trailer fee is still collected. Mutual Fund Maximizer rebates that fee to clients.

"Questrade is founded on the principle of empowering independent Canadian investors," continues Kholodenko. "Our clients get direct access to the markets with our trading platforms. They get low fees and transparent pricing. Now, with myRSP, they get registered savings plans that each individual investor can tailor to their own unique strategy. It's about flexibility and choice – and putting that directly in the hands of the investor."

Until March 1st, new and existing clients can also qualify for special offers when they open a new registered account. Details on the offers are located on the myRSP page at www.questrade.com/myrsp.

Questrade Inc. is a member firm of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund, which provides coverage to Questrade clients for up to $1 million per account.

About Questrade:
Questrade Inc., headquartered in Toronto, provides Canadians with high-speed, direct access trading in the U.S. and Canadian stock and options markets as well as forex trading. Since its inception in 1999, the company has grown and diversified, and is currently ranked as Canada's fastest-growing online brokerage. The company continues to demonstrate its competitive leadership with a combination of outstanding service, advanced technology and competitive pricing structures.

For more information, please contact:
Lynn Suderman
Manager, Communications
Tel: 416.705.5476
1.888.783.7866 x371