Lesson Fixed income trading

Buying GICs and Bonds

Learn how to buy GICs, Bonds and other fixed income products using the Questrade Trading platform.

Young woman tapping phone smiling

The world of finance is evolving rapidly, and Questrade is committed to staying ahead of the curve with our innovative online trading platforms.

Now, for the first time, you can purchase fixed income investments such as bonds and Guaranteed Investment Certificates(GICs) with just a few clicks using the Questrade Trading platform.

Fixed income trading, at its core, involves investing in debt instruments that pay a fixed interest rate over a specific time period. This can potentially be a great way to diversify your portfolio, mitigate risk, and generate income depending on your specific investing needs.

Buying Bonds and GICs online

There are multiple ways to buy bonds and GICs through our trading platforms.

If you have Edge Web added: 

Choose Accounts > Questrade Edge Web > Fixed income

Edge web fixed income top navigation

If you don't have Edge Web enabled:

Choose Accounts > Investment Products > Fixed income

Invest products fixed income top navigation
You can also access the fixed income trading platform through the search bar at the top of your account by looking up a bond or GIC directly, or select Fixed income products from the drop down menu in the quote search.
Fixed income quote bar questrade trading

Buying GICs

Ready to buy a GIC online? GICs are shown first by default when you open the fixed income trading platform.

You can switch between viewing shorter expirations from 30-270 days (under a year) to longer expirations from 1-5 years at the top of the table.

GIC and Bond table overview

Prefer to view the latest GICs and bonds in PDF or XLSX (excel/sheets) format? Click the bond bulletin buttons at the top right of the page.

This table (and the bond bulletin) are updated daily before the markets open at 9am ET.

You can also click or tap any of the headers in the table (like Rates or Term) to sort that column to your preference.
Long term GIC table

Buying Bonds

Interested in trading bonds? Click or tap the BONDS button at the top of the page to see a table of all the bonds currently available.
Bonds table

The bonds table allows you to filter by All or by bond types, such Municipal or Corporate bonds.

You can also click the drop-down filter to search by Issuer or CUSIP.

Tap any of the column headers to sort by ascending or descending so you can find the exact bond you’re looking for.

Questions about bond terms like Yield, Coupon, or Rating? Explore our article on Bonds here.

Order entry

Once you have chosen a GIC or bond to purchase and have selected the Buy button, the purchase request and order confirmation will be shown.

Please pay close attention to the details of your order such as the interest rate, coupon, or term to maturity/expiry.

Order confirmation top

This window will show you the details of your order, and allows you to select which account you would like to purchase the Bond or GIC with.

Bond orders are sent to the trade desk after you send your request and, to finalize your order, you will need to confirm the details over the phone. The team will call you within 30 minutes to process your request.

Order confirmation bonds
GIC orders are fulfilled automatically at the end of the trading day, and your account(s) will reflect your investment(s) the following morning.

Note: With GICs, please pay close attention to whether the GIC is redeemable, and the minimum term.

Order confirmation GIC

At the bottom of the window, you’ll also need to enter your Purchase amount.

The order minimum for bonds and GICs at Questrade is $5,000, however certain products may have higher minimums.

GICs can be bought for any amount above $5,000.

Bonds can be purchased in increments of $1,000 above the minimum, up until the maximum purchase amount shown in the Inventory field.

This is the total daily inventory for that specific bond available at Questrade. Larger orders may not be guaranteed to fill if competing orders are present. The trade desk will call you with more details to finalize the purchase of your selected bond.

Note: If you do not confirm your bond order with the trade desk over the phone, your order will be cancelled. GIC orders do not need verbal confirmation.

Pending orders

After you’ve placed an order it will appear above the table under Pending requests.
Pending fixed income orders

These requests will be organized by GICs and bonds to make it easier for you to find your request.

After you send your buy order, your request(s) will be shown as Received. Once the trade desk has confirmed your order details with you and the purchase has been finalized, your order will show as Completed.

Once an order is completed, the investment(s) will appear in your account the following trading day.

If your order doesn’t meet the criteria for a specific bond or GIC, or if you do not confirm the buy order for a bond with the trade desk verbally, your order may be Rejected.

Important to know

  • Trading GICs and Bonds is only available during trading hours. During after-hours or on holidays, you’re only able to browse bonds/GICs.
    • GICs are available for purchase from 9 am ET - 1 pm ET.
    • Bonds are available for purchase from 9:30 am ET - 3:15 pm ET.
    • Bonds and GICs are available Monday to Friday, excluding trading holidays.
  • To redeem a cashable GIC, contact the Client Services at 1-888-783-7866 or by chat.

 

Phones: Monday to Friday 7:30am to 8:00 pm ET (All Languages)

Chats: Monday to Friday 7:30 am to 8:00 pm ET (English) | Monday to Friday 9:00 am to 5:00 pm ET (French & Mandarin)

 

  • To place a sell order on a bond, call the trade desk at 1-866-980-9590 Monday to Friday, 9:30 am to 3:15 pm ET. 
  • GIC rates are updated every day before the market opens at 9 am ET and Bond prices at 9:30 am ET.
  • You can only see pending bond/GIC orders placed online. Orders placed directly through the trade desk will not be reflected until the following day in the online platform(s).

Note: The information in this blog is for educational purposes only and should not be used or construed as financial or investment advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied, is made by Questrade, Inc., its affiliates or any other person to its accuracy.

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