Yes, trading options is a Cash account benefit. You can trade options in a Cash account using these strategies:

• Buying call or put options (you pay the full premium upfront)
• Covered call writing (if you already own the underlying stock in your account)

With a Cash account, you can’t use strategies that require margin (like naked options or spreads) because Cash accounts don’t allow borrowing or leverage. If you’re new to options trading or not as interested in it, a Cash account is a conservative way to start. But if you’re looking to do more complex trading, a Margin account is the better option for you.

A Cash trading account is a non-registered account where you trade stocks, ETFs, and some options using your own money. Unlike a TFSA or RRSP, any income you earn, like dividends, interest or capital gains, is taxable. A Cash account is best for investors who want full flexibility, prefer to avoid borrowing, or who have already used their TFSA and RRSP contribution room.

Yes! You can have multiple cash accounts with Questrade. You can also transfer funds between these accounts. Open an account in minutes or log in to your Questrade account to open additional accounts.

Yes, you can day trade in Cash accounts Canada. These non-registered investment accounts allow you to buy and sell securities using the cash in your account. But, unlike registered accounts like TFSAs, any profits you make from day trading in a Cash account are taxable. The CRA may consider frequent, short-term trading to be a business activity, meaning your profits could be taxed as business income rather than potentially lower-taxed capital gains—but there’s also more potential for growth, compared to a chequing or savings account.