Questrade Mutual Funds and Trailer Fees
I noticed over at Questrade that, in addition to offering a low cost TFSA, they now offer a new feature for mutual funds. While they have reduced their mutual fund trading fee to $9.95, they also now rebate the mutual fund trailer fees back to the investor (up to 1%). Obviously, the higher the MER of the mutual fund, the closer to 1% that you’re going to get back.
Typically, a discount brokerage will keep the trailer fees as added revenue. Kudos to Questrade for putting the effort into reducing our excessive mutual fund MER’s in Canada.
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