Buying an ETF at Questrade

Questrade's account opening page walks you through the account types; a TFSA, RRSP, or FHSA fits most goals. Once the account is open and funded, pick your fund from the asset allocation guide.

Placing the order

1. Log in to Questrade and enter your fund's ticker, like VEQT, in the symbol lookup bar at the top. Select it from the list.
2. Click Buy on the quote window. If you have more than one account, pick the one you're buying in.
3. Choose the order type. Market buys right away at the current price; limit lets you set the most you'll pay per share.
4. Enter either the dollar amount you want to invest or the number of shares. Questrade fills in the other field automatically.
5. For a limit order, set how long it stays open (Day is the default).
6. Review the details and click Send order.
7. Watch the Orders table below the chart; the status moves from Accepted to Executed.

For the order type, use a limit order and set your limit a few cents above the current price. It fills right away, the way a market order would, but it caps what you pay if the price jumps while your order goes through. I do this on every buy, whatever the amount.

What it costs

Questrade charges no commissions on Canadian ETFs bought online. Small exchange fees can apply with certain order types, but a plain market or limit order on these funds usually clears without them.