Investors win big with Mutual Fund Maximizer(R), a new service that
refunds trailing commissions back to clients
TORONTO, Jan. 14 /CNW/ - Questrade Inc. today takes on the brokerage
industry with a new service that rebates mutual fund trailer fees to
investors. Trailer fees are commissions fund managers pay as an incentive to
brokers and mutual fund dealers for advising clients to purchase their funds.
The trailer fee remains the same even if no financial advice is provided. With
the launch of Mutual Fund Maximizer today, Questrade is the only direct access
brokerage to give this fee back to its clients.
Edward Kholodenko, President and CEO of Questrade said: "Canadians have
long paid the highest fees in the world for mutual funds. Questrade has once
again set out to provide unique value to investors. It's time independent
Canadian investors were rewarded for taking control of their financial future.
Questrade's Mutual Fund Maximizer service will rebate our clients up to 1% or
more of their mutual fund investments, maximizing their returns."
In addition to the Mutual Fund Maximizer, Questrade also launches a new
mutual fund centre with premium research tools and online trading capabilities
in the client portal, www.myQuestrade.com. The commission for online mutual
fund trades has also been reduced to $9.95 a trade.
Continues Kholodenko: "Canadians have been hit extremely hard in the
current economic downturn. Mutual funds are an important investment vehicle
for many, so we decided to find a way to get Canadian investors a better deal.
Questrade's Mutual Fund Maximizer service coupled with our comprehensive
online mutual fund centre, including easy online trading, lower commissions,
premium research tools, and most importantly, trailer fee rebates once again
solidifies our standing as the champion of Canadian independent investors."
All Questrade clients are automatically enrolled in Mutual Fund
Maximizer. The average trailer fee is about 1% of the value of the mutual fund
every year. Rebates are not considered contributions in registered accounts,
meaning any trailer fee refund is additional cash on top of the annual
Mutual Fund Maximizer is part of Questrade's ongoing commitment to
providing Canadians with low-fee, innovative brokerage services. In January,
2008, Questrade rolled out USD in RSP, the first and only registered account
that allows investors to trade online with US dollars. In January 2007, the
firm introduced gold bullion trading in margin, cash and registered accounts,
with gold stored at the Royal Canadian Mint. More recently, on January 2nd,
2009, Questrade added tax-free savings accounts to its roster of 15 different
account types. The TFSA has the same trading privileges that are available to
Questrade Inc. is a member firm of the Investment Industry Regulatory
Organization of Canada (IIROC) and the Canadian Investor Protection Fund
(CIPF). The CIPF provides coverage to Questrade clients for up to CAD $1
million per account.
Questrade Inc., headquartered in Toronto, provides Canadians with
high-speed, direct access trading in the U.S. and Canadian stock and options
markets as well as forex trading. Since its inception in 1999, the company has
grown and diversified, and is currently ranked as Canada's fastest-growing
online brokerage. The company continues to demonstrate its competitive
leadership with a combination of outstanding service, advanced technology and
competitive pricing structures.
For further information:
For further information: Lynn Suderman, Manager, Communications,
firstname.lastname@example.org, Tel: (416) 227-9876 x371, Tel: 1-888-783-7866 x371,