- ANNEX A — Additional Beneficiaries
- ANNEX B — Primary Caregiver and/or Custodial Parent/Legal Guardian
- ANNEX D — BC Training and Education Savings Grant (BCTESG)
- Canada Learning Bond (CLB) Application for Adult Beneficiaries
- Adult CLB Application Questions and Answers
Incorporated company
- Corporate/Non-Personal Account Application Form
- Certified Resolution for Corporate Accounts
Unincorporated company, association or organization
- Corporate/Non-Personal Account Application Form
- Trading Authorization for Unincorporated Groups
Investment clubs
- Corporate/Non-Personal Account Application Form
- Investment Club Agreement
Estate account
- Corporate/Non-Personal Account Application Form
- Estate Supplementary Form
Formal trust
- Corporate/Non-Personal Account Application Form
- Resolution (Formal Trusts)
Supplementary forms for new applications
- Confirmation of Account Information — if you do not have personal cheques, use this form to verify your banking account information.
- Guarantee of Account / Guarantee of Account (Alberta) — your consent for someone else to guarantee your account.
- Informal Trust Account Agreement — to set up an account 'in trust' for someone i.e. a parent designating an account 'in trust' for a child.
- Leverage Risk Disclosure Statement — to acknowledge the risks of borrowing money to invest.
- Politically Exposed Foreign Person (PEFP) — to declare if you, or a family member, are defined as a Politically Exposed Foreign Person.
- T2151 Direct Transfer of a Single Amount Under Subsection 147(19) or Section 147.3 (DPSP or RPP) — Government of Canada form to transfer a registered pension plan or deferred profit-sharing plan.
- Trading Authorization to authorize somebody else, such as your spouse, to make trades on your behalf.
- Systematic Plan Agreement — to set up contributions to your account or to your mutual funds on a regular basis.
- W-9 Form — to provide your Taxpayer Identification Number (Required for U.S. citizens and residents).
- Waiver of Client Confidentiality — your consent to release information to the IRS (required for U.S. citizens and residents)
Addenda
- Life Income Fund (LIF) Alberta and Form 10
- Life Income Fund (LIF) British Columbia and Form 3
- Life Income Fund (LIF) Federal
- Life Income Fund (LIF) Manitoba and Form 5A
- Life Income Fund (LIF) New Brunswick and Form 3.2
- Life Income Fund (LIF) Newfoundland & Labrador and Form 3
- Life Income Fund (LIF) Nova Scotia
- Life Income Fund (LIF) Ontario and Form 5.2 (if applicable)
- Life Income Fund (LIF) Quebec
- Locked-In Retirement Account (LIRA) Alberta
- Locked-In Retirement Account (LIRA) British Columbia
- Locked-In Retirement Account (LRSP) Federal
- Locked-In Retirement Account (LIRA) Manitoba
- Locked-In Retirement Account (LIRA) New Brunswick and Form 3.2
- Locked-In Retirement Account (LIRA) Newfoundland & Labrador
- Locked-In Retirement Account (LIRA) Nova Scotia
- Locked-In Retirement Account (LIRA) Ontario
- Locked-In Retirement Account (LIRA) Quebec
- Locked-In Retirement Account (LIRA) Saskatchewan
- Locked-In Retirement Income Fund (PRIF) Manitoba and Form 4
- Locked-In Retirement Income Fund (LRIF) Newfoundland & Labrador and Form 3
- Locked-In Retirement Income Fund (PRIF) Saskatchewan and Form 1
- Restricted Life Income Fund (RLIF) Federal and Form 2 (if applicable)
- Restricted Locked-In Savings Plan (RLSP) Federal
Administrative forms
Administrative forms for existing clients
- Authorization to Distribute Duplicate Statements and/or Confirmations — your authorization to distribute duplicate account statements and/or trade confirmations.
- Beneficiary Designation With Contingent Beneficiary — to nominate alternate beneficiaries for an account.
- Certificate Withdrawal Form — to withdraw a share certificate.
- Change of Address — to update your address.
- Change of Beneficiary — to change your beneficiaries on a registered account.
- Consent to Share Online Account Access — to provide View Only account access to a third party.
- Declaration of No Spouse Form — to declare that you have no spouse when transferring a locked in account.
- Deed of Gift — to transfer your worthless securities to Qtrade for tax purposes.
- Deregistration Form — to partially or fully deregister assets held in a registered account.
- Electronic Funds Transfer Set-up Form — to start, change or cancel an Electronic Funds Transfer between your financial institution and Qtrade.
- Internal Property Transfer Without Consideration — to donate assets from your account to another Qtrade account e.g. to your son or daughter.
- NI 54-101 Shareholder Communication Information — to change your preferences for communication relating to stocks you own.
- Power of Attorney to Transfer Stocks or Bonds — your authorization to make a Security Certificate negotiable
- RESP Capital Withdrawal Form — to request a withdrawal of Subscriber's contributions from an RESP if contributions will not be used for education.
- RESP Proof of Enrolment — to prove enrolment in an educational institution for educational assistance payments.
- RESP Educational Assistance Payment (EAP) And Post Secondary Education (PSE) Request Form — to request payment of educational expenses such as tuition fees from an RESP.
- Re-Investment Plan Authorization Form — to start, change or cancel a Dividend Reinvestment Plan (DRIP) or Stock Dividend Plan (SDP).
- Retirement Income Fund (RIF) Payment Change — to update your RIF Payment information.
- Sales and Deposits of OTC Issuer Securities — to sell or deposit OTC securities (estate accounts only).
- Swap Form — to exchange assets between your accounts.
- Trusted Contact Person Form — to appoint a person you trust for Qtrade to discuss concerns about your financial decisions.
- Voluntary Donation to Charitable Organization — to donate your securities to a charitable organization.
IRS forms for Corporate/Non-Personal accounts
- Affidavit of Non-U.S. Status - mandatory form for Entities and Organizations to confirm non-U.S. status remains the same and unchanged.
- Joint Account Election - mandatory form for Partnership, Foundation, Association, Charitable Organization, Investment Club, and Formal Trust accounts to claim joint account status for U.S. tax reporting purposes.
- Treaty Statement Declaration - mandatory form for Entities and Organizations to certify eligibility for treaty benefits and to specify limitation on benefits.
- Withholding Statement - mandatory form for Partnerships, Foundation, Association, Charitable Organization, Investment Club, and Formal Trust accounts to apply the correct rate of withholding tax to each beneficial owner.
- W-8BEN and Instructions - mandatory form for Individuals on a Partnership, Foundation, Association, Charitable Organization, Investment Club, and Formal Trust to certify non-U.S. status and to claim tax treaty benefits.
- W-8BEN-E and Instructions - optional form for Entities to certify non-U.S. status and to claim tax treaty benefits.
- W-8IMY and Instructions - mandatory form for Partnership, Foundation, Association, Charitable Organization, Investment Club, and Formal Trust accounts to certify non-U.S. status and to claim tax treaty benefits.
Qtrade Direct Investing Credit Policy
First trade or no securities value in the account
Trade orders will be accepted only if there is sufficient cash in the Qtrade account (the "Account") to cover the entire purchase (including commissions).
Cash account for senior exchanges (TSX, NYSE, AMEX, Nasdaq National & small cap markets)
Trade orders will be accepted only if there is sufficient cash in the Account or equity (from a different security) equivalent to the value of the trade.
If you have available cash in your Account but it is not in the currency of a trade you wish to make, buy orders will be accepted based on your available cash and the funds will not be converted into the currency the security trades in until we receive your verbal instructions. To place instructions for the conversion of funds, please call a Qtrade Investment Representative at 1.877.669.3977 or 604.605.4198. Please note that you can choose to have a trade settle in either Canadian or US funds by placing the trade in the corresponding Canadian or US dollar account.
When you hold sufficient Money Market or T-Bill funds, you are responsible for redeeming them to cover your purchase if necessary. This redemption order can be placed online or you may call a Qtrade Investment Representative to place the order on your behalf.
Cash account (TSX Venture, CNQ, Nasdaq OTC, and other unlisted markets)
Trade orders will be accepted only if there are: (i) sufficient cleared funds in the Account; or (ii) cleared equity (from securities listed on one of the Senior Exchanges) equivalent to the value of the trade.
Cleared funds
For cash to be considered 'cleared', it must: (i) be received by Qtrade by bank draft or certified cheque; (ii) be received by Qtrade via our bill payment system; or (iii) have been on deposit in your Account for 10 business days and drawn on a Canadian financial institution.
Margin account
Sufficient 'margin excess' to cover the margin required for your purchase must be in the Account at the time you place your order. Margin Excess, also known as 'Buying Power', is defined as the difference between: (i) the loan value granted on securities held in your account; and (ii) the total amount currently being borrowed.
If your Account has insufficient Buying Power available at the time your order is placed, you can generate the margin required by selling a security. Please note that the sale of the security will increase the Buying Power only by the amount of Margin required to hold that security position and only after the sale has been executed.
Options
Option orders will be accepted only if there is sufficient cleared Buying Power in the Account. For Buying Power to be considered 'cleared', the equity in the Account has to satisfy the above definition of cleared funds.
Margin account concentration
Loan value on a 'per security' or 'per sector' basis may be reduced if the Account is deemed to be 'concentrated'. A margin account is considered 'concentrated' when one security or sector represents a significant percentage (approximately 25% or more) of the market value of the Account.
Registered accounts
Sufficient cash or cash equivalents (e.g. Money Market mutual funds) must be available in the Account to cover the entire purchase (including commissions) in order for your order to be accepted. It is up to each individual to sell any Money Market fund to coincide with the settlement of a purchase.
Minimum equity
Due to the inherent risks of the following trading strategies, Accounts require a minimum of $10,000 equity for: Short selling, spread orders and uncovered equity options. For uncovered index options, Accounts require a minimum of $25,000 equity.
Margin Trading Risks and Benefits
Margin trading is the practice of borrowing money from a brokerage to trade in stocks or other types of securities. Stocks held in your account are used as collateral for the loan, and the brokerage charges interest for the duration of the loan. In the investment world, buying stocks using borrowed money is known as trading “on margin”.
When the price of a stock is rising, trading on margin allows investors to use leverage to increase their gains. However, when stock prices fall, losses mount much more quickly.
Margin loans, when used well, can work in your favour. However, you are taking on a debt which must eventually be paid off. In the meanwhile, as with any loan, you’ll pay interest on the outstanding debt, regardless of whether the stock price goes up, down, or sideways.
A minimum margin must be maintained. Margin requirements are set by investment industry regulations and by your brokerage’s risk management policies.
You would receive a “margin call” if you had purchased stocks on margin, and the value of your account decreased to the point where your margin was below the minimum margin required by your broker. Your broker will ask you to take prompt action in order to restore the required margin. In order to “meet the call,” you’ll need to put more cash and/or more margin-eligible securities into your brokerage account. If you can’t come up with more securities, or cash, then you would need to sell some of your stocks and apply the proceeds to your margin loan – at least enough to restore the balance. If you do not act promptly, your broker will sell enough of your stocks to put the account into positive margin.
If you decide to buy on margin, take a careful, disciplined approach. Margin trading entails additional risks associated with market volatility and requires a high level of attention.
Requirements to be aware of:
- You need to have at least $2,000 in cash or marginable securities in your account to trade on margin
- You must have at least $10,000 in equity for short selling, uncovered equity options and spread trading
- You must have at least $25,000 in equity for uncovered index options
- You should avoid holding a margin account with a large margined holding in one security or one sector, and little or no diversification in other holdings or sectors. If you do, your margin account could be deemed to be "concentrated" and the loan value of the security may be reduced
- You should leave at least a 10% margin cushion. Withdrawals below 10% margin may be allowed at the discretion of our credit department.
For more information about margin guidelines and best practices, download our guide.
