Questrade ranks #1 for 2nd year in a row: Investor Economics reaffirms Questrade's position as the fastest-growing online brokerage in Canada
November 11, 2010 (PRLEAP.COM) Business NewsToronto, ON, For the second year in a row, Questrade ranked in the top position for growth of assets and trade volume by the Investor Economics' Retail Brokerage Report published in September 2010. Even more impressive, Questrade was the only firm out of 11 surveyed that experienced an increase in assets during the 2nd quarter 2010. Overall, Questrade is the sixth largest online brokerage in the country by trade volume, surpassed only by the five bank-owned online brokerages.
Writes Investor Economics in its report: "[at the end of the second quarter], all firms apart from Questrade experienced a decline in assets … the independent firm collected the honors for both top asset growth and trade growth rates for quarterly and annual periods!"
Edward Kholodenko, President and CEO of Questrade said: "Our continued growth while the rest of the industry contracts clearly demonstrates that our business model is exactly what Canadians are looking for. We have been leaders in pushing down the cost of trading. We were the first to offer US dollar RRSPs and we are the only brokerage to give rebates on trailer fees in mutual funds. Investor Economics' recent report shows that just as we put Canadians first, they are putting us first too."
Kholodenko predicts this level of growth will continue as a direct result of the firm's continued commitment to providing Canadians with the lowest commissions in Canada. "We introduced the $4.95 stock trade four years ago – in October 2006. None of the other firms have really changed their pricing; they've only made slight adjustments to their eligibility threshold so a few more people qualify. Questrade has been the driving force of change for the benefit of consumers. We will continue to lead the way."
In the coming year, Questrade plans to roll out a series of innovations that will continue to improve the client experience, including a new website and secure client portal with a suite of new account management tools.
Questrade Inc. is a member firm of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). The CIPF provides coverage to Questrade clients for up to CAD $1 million per account.
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. www.Questrade.com
About Investor Economics' Retail Brokerage Report
Investor Economics' Retail Brokerage Report includes data from the top eleven direct access brokerages in Canada, including the brokerage divisions of all major Canadian banks. http://www.iei.ca/