Closing your Questrade account (2024)

Looking to close any of your Questrade accounts? No problem, follow the instructions below for more information and key details about closing your accounts and additional options.

Depending on your account type, there may be different options available to you.

Closing your account is done in 2 steps, first you must withdraw all funds and investments, second you can close the account.

There are several ways to do this, you can find instructions for different ways to move your account to $0 below.

Transfers to another Questrade account

Closing one account but keeping another, or consolidating investments? We make the process of transferring from one account at Questrade to another as simple as possible.

Learn more about transfers between Questrade accounts in this lesson.

Transfers to another broker

If you’re transferring assets (stocks, ETFs, mutual funds & etc) to another bank/broker, follow the instructions provided by the recipient bank/brokerage for asset transfers.

All assets and cash can be transferred “in-kind”, in cash, or a mix. In kind means all of the stocks, ETFs, or other investments held in the account will be transferred over “as-is”, this will also include any CAD and USD cash. Some banks/brokers may not support dual-currency transfers (as in, they may not accept USD cash), so please check with the recipient for more information.

Fees

$150 + tax for both full or partial transfers

Partial transfers are when you do not transfer out all of the cash or investments in the account.

Full transfers are when there are no remaining assets in the account.

See all other potential administrative fees.

Withdrawing to a bank account

Cash can also be withdrawn from most account types directly to the bank account of your choice.Learn more about cash withdrawals in this lesson.

Please note: If the currency you withdraw is not the same as what's in your bank account (ex. CAD in the account and you withdraw USD), you may be subject to an exchange fee.

Depending on the type of account you’re withdrawing from, there may be limitations, or tax penalties to be aware of. (I.e. RRSP withholding tax)

Worthless securities

If you have investments in your account that have lost their entire market value, you will need to have them removed from your account before it can be closed. This can happen if the assets are subject to a cease-trade order,the issuer has gone bankrupt, or the shares/securities have been delisted from an exchange.Learn more about removing worthless securities in this article.

After all the funds and investments have been withdrawn from your Questrade account to a bank or broker, you can create an account closure request.

To do this you must login to your account and navigate to Account Management.

Once you have reached this page you can select which account(s) you want to close.

After you have made your selection(s) you can select the NEXT button at the bottom.

On the next page you can add a reason you’re closing your account(s), as well as provide any other comments or feedback in the box provided.

Select the NEXT button at the bottom when you’re ready.

On the last page you can review any choices you made for this request, and if you’d like you can also go back to change any information.

Once you’ve reviewed your request you can select the CLOSE ACCOUNT button.

After you submit your request, you can track its status under the Request history tab at the top. This request can take up to 2-3 business days.

Next you will be emailed within the hour to the email you have connected to your account. The email will go over the summary of your request and how to track its progress.

Once the request has been completed you should receive an email confirming that your account has been closed.

Or you can call our customer service team at 1.888.783.7866, or contact us through live chat to submit an account closure request.

Questrade does not charge account closure fees for any account types.

Note: Deregistration fees may apply if withdrawing from certain registered accounts such as the RRSP, RESP, Spousal RRSP, LIRA or LRSP.

Please note: You will have access to monthly statements and tax slips for 7 years after closing your account. These records cannot be deleted, as they are required to be kept for 7 years for regulatory purposes.

Non-registered and registered accounts may be reopened within a 3 month period after the account was closed. (The account closure and re-activation must be within the same calendar year for Registered Accounts.)

To re-activate your account you can contact us through live chat or call customer service at 1.888.783.7866.