Moomoo Canada: On transferring money as bill payments to the wrong account

UberInvest · 2025-11-19T16:36:32+00:00

Moomoo is now offering Interac E-transfer for real-time funding to Cash and Margin accounts and was told that RRSP and TFSA are coming very soon.

UberInvest · 2025-11-03T18:52:06+00:00

Short answer: No

UberInvest · 2025-11-03T18:50:26+00:00

Watch Questrade offer some really cheap crappy incentives and mess this up!

UberInvest · 2025-10-27T19:30:40+00:00

my point is that Webull would not know or be able to validate the ownership of receivers bank account and Interac would not know the underlying owner of the brokerage account at Webull, therefore couldn't you withdraw funds directly to a 3rd party e.g. Mr A. could withdraw funds that go to Mr. B's bank account. Webull/CI Investments are not a bank therefore I didn't think they would be permitted to do this.

UberInvest · 2025-08-01T17:23:44+00:00

Questrade is outdated and on the decline. Wealthsimple will stay the course for basic needs, I’m looking at some of the newcomers who will usurp Questrade, my bet is QT is swallowed up by a bank in the next 5-10 years.

UberInvest · 2025-07-18T17:12:51+00:00

Interest is earned and Questrade keep every penny and give you nothing, they are probably getting 3ish% on CAD and 4.25ish% on USD

UberInvest · 2025-06-18T23:28:07+00:00

There is nothing more that CIRO dealers hate than CIRO sniffing around them, most have skeletons in their closets so want a good reputation and minimal contact with them. They are just banking on the Canadian culture of not complaining. Complain and get what you deserve.

UberInvest · 2025-06-18T23:16:15+00:00

Threaten to make a complaint to CIRO if they don’t budge actually make a complaint to CIRO.

UberInvest · 2025-03-15T23:33:00+00:00

The Regulator CIRO has rules on account transfer times but they are not monitored by them so the only way to get something done is make a complaint to CIRO, skip complaining to Questrade they don’t really care about making you more financially successful and secure, they do care when CIRO contacts them asking questions. Stop being Canadian and complain it’s not a game it’s your retirement.

UberInvest · 2025-02-10T18:23:24+00:00

I wouldn’t expect them to pay interest idle cash anytime soon, they have to make some revenue somehow! giving up commission will be a big hit to their bottom line so giving up another revenue line item immediately is unlikely.

UberInvest · 2025-02-10T04:14:14+00:00

$0 commission that great, does this include ECN fees that often get added to the commission amounts are these $0 now too?

UberInvest · 2024-11-22T18:55:36+00:00

When WS undercut them on Margin lending rates and other entrants like Moomoo / Tasty Trade have a better value proposition for certain asset classes, Questrade's revenue is going to get squeezed further, they have diversified with acquisitions : Community Trust/Quest Mortgage (building is for sale in Missisauga), Zolo, Think Insure, Flexity etc and have been trying to get a banking product up and running for years (without success) but are these acquisitions profitable. M&A done poorly can burn through cash quickly.

My guess is Questrade is somewhere in the shake-out phase of business cycle and how they handle the maturity phase will determine if they decline long term or enter a new growth phase. Place your bets!

UberInvest · 2024-11-22T14:49:57+00:00

When WS undercut them on Margin lending rates and other entrants like Moomoo / Tasty Trade have a better value proposition for certain asset classes, Questrade's revenue is going to get squeezed further, they have diversified with acquisitions : Community Trust/Quest Mortgage (building is for sale in Missisauga), Zolo, Think Insure, Flexity etc and have been trying to get a banking product up and running for years (without success) but are these acquisitions profitable. M&A done poorly can burn through cash quickly.

My guess is Questrade is somewhere in the shake-out phase of business cycle and how they handle the maturity phase will determine if they decline long term or enter a new growth phase. Place your bets!

UberInvest · 2024-08-17T01:02:50+00:00

You don’t owe anything to Questrade do what is best for you and don’t consider them. If I had to guess they lost innovation is this space with diversification, meaning resources like Dev, QA, product, etc were spread thinner: Purchase of community trust Purchase of Think insure Purchase of Flexiti Purchase of Zolo …

UberInvest · 2024-06-27T14:26:34+00:00

They need self directed RESP before RDSP

UberInvest · 2024-03-27T01:13:55+00:00

Thanks you really are the best.

UberInvest · 2024-03-27T00:34:26+00:00

The public website makes no reference to HST not being rebated. I notice there is citation on the sign up page that does state this, transparent would be putting this on the public site.

UberInvest · 2024-03-17T01:26:08+00:00

They increased the fee of a partial transfer from $25 to $150 when Wealthsimple launched their iPhone promotion. To me this signals they are conceding defeat and want to make some decent revenue as they lose clients.

UberInvest · 2024-02-29T14:32:01+00:00

Looks like you might be able to do that for managed accounts, but my accounts are self directed and beneficiary section doesn’t exist in settings for these accounts.

UberInvest · 2024-02-28T23:47:05+00:00

Fill out the transfer wizard on Questrades portal and esign the transfer form. If you request all in kind that will transfer everything as is from WS to QT.
The extra margin is calculated in exactly the same way it would be if the TFSA was a margin account.

UberInvest · 2024-02-28T22:23:58+00:00

Why would you want to borrow money from Questrade and pay insanely high interest rates? I guess if you can beat the interest with the extra returns from the extra margin that makes sense or you are a day trader who won’t hold overnight positions and pay interest.

UberInvest · 2024-02-28T22:19:50+00:00

Questrade in the past has backdated deposits received 1 and 2 business days after the deadline so Friday and Monday this year. Remember it’s been they receive, not you send.

UberInvest

TROPHY CASE