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This one may be very specific, but I tried for a couple months to buy stocks on the NASDAQ without success, gave up and bought ones on the TSX.

For example if my account says Available Balance: $1,000 CAD, $0 USD... and my order costs me $600 USD, it will show 'Available Balance: $0, Cost: $600, New Balance -$600 USD' and blocks the transaction. Do I need to trade that $1,000 CAD on the FX to USD myself? Doesn't sound very convenient.

Thanks!

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  • You probably need to contact Questrade’s Customer Care team to answer this. Nov 24, 2020 at 2:41

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See this page:

https://questrade-support.secure.force.com/mylearning/view/h/Investing/Exchanging-funds-in-registered-and-non-registered-accounts

If it's a registered account, Questrade should exchange CAD to USD automatically at the end of the day

If it's a margin account, it will not, your USD balance might go negative and you will have to pay borrow fees until you cover the negative balance.

I can't tell you why your trade didn't go through, it sounds like it should have if you have enough CAD to cover it. You'll have to ask Questrade.

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