Written by ForexBrokers.com
In this head to head comparison of Questrade vs Alpari, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Questrade, founded in 2000, and Alpari, established in 1998, are two online brokers that offer a range of services for trading enthusiasts. Neither Questrade nor Alpari are publicly traded companies or banks, but they differ significantly in their regulatory standings. Questrade holds two Tier-1 licenses, the most reliable according to ForexBrokers.com, signifying a strong adherence to regulatory standards. Alpari, on the other hand, does not hold any Tier-1 licenses, which can be a point of concern for cautious traders.
The ForexBrokers.com Trust Score further highlights the differences in their trustworthiness. Questrade garners a Trust Score of 86 out of 99, placing it in the "trusted" category, while Alpari scores 68, categorizing it as "high risk." This disparity suggests Questrade may provide a more secure option for traders prioritizing regulation and safety. As you decide between these brokers, considering their trust scores and licenses could be crucial in making an informed choice.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Year Founded | 2000 | 1998 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 0 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Questrade and Alpari in terms of commissions and fees, there are noticeable differences between the two brokers. Questrade offers a target spread on the EUR/USD at 1.9 pips, which is considered steep relative to the industry average. This contributes to its more moderate rating for commissions and fees, scoring 3 out of 5 stars. In a ranking of 63 brokers, Questrade holds the 58th position, indicating room for improvement in this category.
In contrast, Alpari stands out as a more cost-effective option, earning a better reputation in terms of commissions and fees. The specific average spread data for Alpari is not available, but it is recognized for having generally competitive fees. This is reflected in its higher rating, with 4 out of 5 stars for commissions and fees, suggesting that Alpari may offer more favorable trading costs for its users. Alpari ranks 41st out of 63 brokers in this category, indicating a stronger performance compared to Questrade.
Prospective traders looking for cost-effective trading options might find Alpari a more appealing choice due to its higher rating and better rank in the commissions and fees category. On the other hand, while Questrade might have slightly steeper costs, it could offer other features that appeal to particular trading needs. Ultimately, traders should consider various factors, including fees and trading conditions, when choosing a broker that aligns with their individual goals.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Minimum Deposit | $250 | $20 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Questrade and Alpari, the breadth of their investment offerings reveals notable differences. Questrade shines with a considerable selection of 641 tradeable symbols, including 110 forex pairs, which outpaces Alpari's 105 symbols and 46 forex pairs. Additionally, Questrade provides access to both U.S. and international exchange-traded securities, enabling clients to directly invest in companies like Apple and Vodafone. However, Alpari does not allow for direct purchase of U.S. stocks, though it does offer access to international markets. Both platforms allow for trading of cryptocurrency derivatives, but neither permits the buying of actual cryptocurrencies. For those looking to replicate seasoned traders' investments, Alpari provides a copy trading feature, whereas Questrade does not.
Renowned for its extensive range of investment options, Questrade earns a five-star rating for investment variety, securing the 11th spot out of 63 brokers in a ranking by ForexBrokers.com. In contrast, Alpari receives a three-star rating, largely due to its narrower selection and is ranked at 63rd. These rankings highlight Questrade's extensive market access compared to Alpari, making it a more versatile choice for investors seeking diverse investment opportunities across various asset classes.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 105 |
| Forex Pairs (Total) | 110 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools of Questrade and Alpari, both brokers provide traders with useful features. Questrade and Alpari offer simulated trading with free virtual demo accounts, allowing users to practice without financial risk. They each provide proprietary platforms and have both Windows-based desktop and web-based trading platforms available. Questrade lacks MetaTrader 4 and MetaTrader 5, widely used for advanced trading, while Alpari includes both. However, Alpari supports copy trading, which Questrade does not. On the other hand, Questrade offers DupliTrade, a service not available with Alpari.
For charting tools, Questrade stands out with 20 drawing tools compared to Alpari's 15, giving users more options to analyze market trends. Additionally, Questrade offers a superior watch list experience with 52 field columns versus Alpari’s 7. Both platforms allow trading directly from stock charts, enhancing user convenience. Despite these differences, both brokers are rated 4 stars by ForexBrokers.com for their trading platforms and tools. However, Questrade is ranked higher at #34 out of 63 brokers, while Alpari is ranked #55, reflecting a slight edge in platform quality and tool offerings.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Questrade and Alpari provide iPhone and Android apps for seamless mobile trading. They deliver essential features such as stock and forex price alerts, and allow users to create watchlists with real-time quotes. However, when it comes to watchlist symbol syncing, Questrade excels by syncing watchlists across mobile and online platforms, while Alpari lacks this capacity. With charting capabilities, Questrade offers 64 technical studies, significantly surpassing Alpari's 30 studies. Both apps allow users to draw trendlines and view charts in multiple time frames, but only Questrade auto-saves drawings, providing a more intuitive charting experience.
In terms of overall ratings, both apps hold a respectable 4-star rating for mobile trading. Nonetheless, there are noticeable distinctions in their rankings among 63 brokers—Questrade is ranked #34, which indicates a more favorable standing compared to Alpari's #56 ranking. For traders prioritizing a comprehensive, synchronized, and detailed experience, Questrade's mobile app shows a clear advantage, whereas Alpari offers a more limited, but still reliable, set of features for on-the-go trading.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research tools and resources, Questrade and Alpari have different strengths. Questrade excels in providing a variety of research tools, offering both Autochartist and Trading Central for advanced analytics, as well as TipRanks for market insights. Additionally, Questrade includes an economic calendar that tracks important global events. However, it lacks daily market commentary and top-tier forex news. Alpari, on the other hand, provides access to forex news from reputable sources like Bloomberg and Reuters, alongside Autochartist tools and an economic calendar. Yet, it falls short by not offering Trading Central or TipRanks resources.
The differences in offerings reflect in their ratings and rankings. Questrade scores a 3.5 out of 5 for research and is ranked 51st out of 63 brokers by ForexBrokers.com. Alpari has a slightly lower rating of 3 out of 5 and ranks 57th. While both brokers have similar features like economic calendars and Autochartist tools, Questrade's additional offerings give it a slight edge in comprehensive market research.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Daily Market Commentary | No | No |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both Questrade and Alpari provide foundational materials. Each offers at least ten educational pieces that focus on forex and CFDs, such as articles and videos, catering to newcomers eager to grasp the basics. Beginner traders will find valuable video content from both platforms, addressing key trading topics and providing essential knowledge for those just starting. However, neither broker hosts monthly online webinars for ongoing learning opportunities, which may limit real-time interactive learning experiences.
Questrade has a distinct edge with its searchable archive of previously recorded webinars, enabling users to revisit past learning sessions at their convenience. Despite this advantage, neither broker offers a significant library of advanced videos for seasoned traders. Alpari, on the other hand, provides an investor dictionary with definitions of over fifty investing terms, which can be a useful reference tool for beginners. Ratings from ForexBrokers.com place Questrade slightly ahead of Alpari in the educational category, with Questrade scoring 3.5 stars and ranking at #36, compared to Alpari’s 3-star rating and #48 ranking.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Questrade is better than Alpari. Questrade finished with an overall rank of #32, while Alpari finished with an overall rank of #58.
Regulated in both the U.S. and Canada, Questrade is a trusted full-service multi-asset broker now offering forex and CFDs alongside its stock trading services for active and passive investors. While its scope of educational resources and in-house research is limited, Questrade has an impressive platform lineup.
| Feature |
Questrade
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Alpari
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 68 |
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Both Questrade and Alpari do not provide options to purchase actual delivered cryptocurrencies, but they do offer the ability to trade cryptocurrency derivatives, making them suitable choices for investors interested in trading cryptocurrency without owning the underlying asset.
When comparing online brokers Questrade and Alpari, neither offers ACH or SEPA transfers, PayPal, or Skrill (except for Alpari, which does offer Skrill), but both provide options for Visa, Mastercard, and bank wire transfers for depositing or withdrawing account funds.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Questrade | Alpari | |
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| Trust Score | 86 | 68 | |
| Winner | check_circle | ||
| Review | Questrade Review |
| Broker Screenshots | Questrade | Alpari | |
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| Regulation | Questrade | Alpari | |
|---|---|---|---|
| Trust Score | 86 | 68 | |
| Year Founded | 2000 | 1998 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 2 | 0 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Questrade | Alpari | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Questrade | Alpari | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Questrade | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 105 | |
| Forex Pairs (Total) | 110 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Questrade | Alpari | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | Alpari | |
|---|---|---|---|
| Minimum Deposit | $250 | $20 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Questrade | Alpari | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | Alpari | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | Alpari | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Questrade | Alpari | |
|---|---|---|---|
| Daily Market Commentary | No | No | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | Alpari | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Questrade | Alpari | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Questrade Review |
| Overall | Questrade | Alpari | |
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| Trust Score | 86 | 68 | |
| Winner | check_circle | ||
| Review | Questrade Review |
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