- Hey, welcome back, it's Nolan Matthias.
And today I wanna show you how to open up
a quest trade account in 2021.
The reason why we're opening up a quest state account
for ourselves as well is because we really
love the product offering.
They do two things that we think are absolutely amazing.
One is they don't charge you any fees to hold an account.
And two, if you wanna trade ETFs,
if you wanna purchase ETFs,
they don't charge you any fees for the purchase.
They do charge you on the sell side,
but buying ETFs is pretty much free.
And we do a lot of investing in ETFs
because we find that they're a phenomenal tool
to manage our portfolio.
And at a later date, I will run you through exactly
how we set up our portfolio.
But for now, let's get into
how to set up a quest trade account in 2021.
So, first thing we wanna do is we wanna get
to the homepage of quest trade, whether you would do that
via going directly to quest trade.com or whether you do that
with a referral link that gives you $50 in free trade
is completely up to you.
There is one below that will give you $50 in free trading.
What'd you do is you click the open account button
And it brings you to this window,
which starts you in the process.
And the first thing you need to do is choose your account.
Now, in this case, the accounts that we wanna open
are a margin account and a tax-free savings account.
We're not gonna open up an RSP account
or a Forex and CFD account.
Forex is obviously for an exchange
and retirement savings plan is RSP
because the ones that we need
for our purposes are the margin
and the tax-free savings account.
Now we will open up an RSP plan
with quest trade down the road
but we are going to actually transfer a current BMO account
from BIMO to quest trade in that case
because we were being charged fees on it.
And we wanna get rid of those annual fees
that are basically digging
into the profits that we make on our BMO RSP accounts.
So that will come at a later date in a later video
if you wanna see those hit that subscribe button
so that that you see them as soon as they come out.
So if you look over to the right here
we've now got the section that shows us
that we're opening two accounts.
The offer codes have been applied, which gets 50 free
$50 in free trade commission or rebates
and $10,000 managed free for a year.
So now we click open now and this'll take us
to the open new account screen, where we create our user ID
build our profile and set up the account.
So first of all, we're gonna put in our information
going to create our user ID.
We always use the suggested password from Chrome
or from one password, because that way
we can use secured passwords
that we don't necessarily know off the top of our head,
but are very, very hard to crack.
So we'll start building our user ID here,
go in and put in our information, date of birth.
If you're married, it'll ask you for your supposes
information and it will ask you
for your residential address.
One thing I love about this
is that it auto fills it for you.
And we need to go through and verify our phone number
and our email it'll send us codes to both.
Then next we're gonna go to the employment section.
In our case, we are self-employed.
You have to answer standard questions
like are you employed by a securities dealer?
Is anybody associated with your accounts
significant shareholder in any publicly traded company?
Are you a foreign domestic or politically exposed person
that's like that can be military
or politicians in most cases.
That's gonna ask us financial information.
So annual income.
It's gonna ask us some citizenship questions.
Obviously we are from Canada.
It's gonna ask us if we were born in the U S,
will ask us for our citizen number,
and then it wants us to set up our new accounts.
So we will go through answer account questions.
So do you want to trade options?
We'll say yes, for this purposes,
I'm gonna put a thousand dollars in here.
Initially, it's gonna ask us
which security holder materials we wanna receive.
I wanna receive them all preferred languages, English
and then we have to go to the agreements page.
Now it's a good idea to open these all up and read them.
I've already read them.
Then it's gonna ask us to sign and submit your documents.
So we will click the e-sign options statement of acceptance.
And it kicks us out to DocuSign, which is a digital signing
platform that we use at mortgage 360 as well
click the start button and initial and sign.
Super easy, click finish at the end.
Then it'll take us back to the quest trade page.
You have to upload a copy of our ID
and then the last step is to fund the account.
So we're gonna use the online banking method.
In this case, what we're gonna use is TD Canada trust.
And then what we're going to do
is we need to make a bill payment.
So how we do that is we simply add a pay.
It will auto-populate quest trade online brokerage,
as you can see, they have given us an account number here.
So put that account number in click next, click finish.
We're gonna pay this pay IE, the amount of $1,000.
And it has successfully sent quest straight $1000.
It'll show up in a day or two, and that's it we're all done.
So start to finish that took us less than 20 minutes
including scanning our ID and uploading it all.
And really a very simple process.
As soon as that money hits the bank account on Monday
we'll be able to go in
and trade and there we go, we're all complete.
So in less than 20 minutes
we were able to get that entire account set up.
We were able to get it funded.
And as soon as that money hits the account on Monday
we'll be able to go through and set up our accounts.
And we will do a video
on purchasing all of the worst performers of 2020.
And in the coming days
I'll show you how we build out our personal portfolio.
We use the re DeLeo portfolio strategy, and we use ETFs
in order to make sure that we have the right weightings
of different asset classes.
And we'll show that all to you in an upcoming video.
So again, hit that subscribe button
and hit that notification bell.
So you see it as soon as it comes up
and do me a favor hit that like button
for the YouTube algorithm.
And don't forget, there's a link below,
so you can get $50 in free trades
when you open your very own quest trade account.
We'll see you in the next video, cheers.