Questrade introduces Margin Power, a service that boosts buying power
TORONTO, May 1, 2013 /CNW/ - Questrade today officially launches Margin Power, an innovative new trading service that helps investors boost buying power by linking the assets held in a TFSA to a margin account. Investors are regaining their confidence in the market and increasingly moving back into equities and Margin Power offers them a way to maximize their access to market potential.
"Tax-free savings accounts are the most popular new account type in Canada. They are a great vehicle to build a tax-free portfolio. But the limitation is clear: investor's assets are locked down," said, Edward Kholodenko, President and CEO of Questrade. "Margin Power delivers a simple solution: a margin account connected to a TFSA that can leverage your TFSA's assets. This transforms the margin account into a more powerful trading tool, and clients can take advantage of market opportunities that would otherwise not be possible."
Any Questrade client with a margin and a TFSA account can opt into the service. The increased buying power is visible in the margin account trading platform, and can be used to enter new positions without selling securities or transferring in cash. It also acts as a kind of overdraft protection, an extra buffer against market fluctuations.
Continues Kholodenko: "Our goal is to help our clients do more with their money. If you have a TFSA and a margin account, why not take advantage of the full breadth and potential of your investments? Margin Power eliminates a huge barrier and I'm delighted to offer this new service to our clients."
Margin Power is an exclusive service available only to Questrade clients.
The Questrade team will be answering live questions about Margin Power during a Twitter chat on May 8th. To follow the discussion or to ask questions, visit @Questrade on Twitter at https://twitter.com/Questrade
Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines.
Questrade Inc. is a member firm of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund.
Questrade Inc., headquartered in Toronto, provides Canadians with high-speed, direct access trading in the U.S. and Canadian stock and options markets through its IQ trading platforms, as well as forex and CFD trading. Since 1999, the company has led the industry in delivering outstanding service, exclusive products and services, and competitive pricing. This commitment to innovation has appealed to independent investors, and for the past two years, the company has ranked as Canada's fastest growing online brokerage. For two years, Questrade also earned the designation as one of Canada's Best Managed Companies.
SOURCE: Questrade Inc.
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