Questrade Cash Margin Account

12 Jul

I’ve been a client of Questrade since Oct 2009 for RSP and TFSA.  Since I had Scotia Itrade for my cash margin account, I didn’t want to spread my money too far out.  But with each trade at $19.99, it’s starting to weigh down on me.  I finally decided to opened a cash margin account with Questrade to cut trading costs as much as possible.  This account will purely be take a profit basis. 

Starting with $5000, my goal is to grow this tiny account to $7500 on swing trading by the end of this year.

So far, I have only deposited $3750.  It’s still short $1250 as I don’t have enough money right now to fund it.  I’m on my way.  I bought BMO at $5754.95 ($2004.95 is on margin).  I am up $262.05, 4.55%.

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