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.
Founded in 2000, Questrade sets itself apart with a solid trust score of 86 from ForexBrokers.com, indicating a trusted standing among brokers. Holding two Tier-1 licenses, Questrade showcases its credibility, ensuring clients can trade with confidence. This Canadian-based broker isn’t publicly traded or a bank, yet it maintains a sense of security through its regulatory compliance and standing in the industry.
On the other hand, Alpari, founded in 1998, presents a trust score of 68, placing it in the higher risk category. Without any Tier-1 or Tier-2 licenses, Alpari lacks some regulatory endorsements that might concern cautious traders. Not publicly traded or a bank, this broker may appeal to those seeking alternative trading options, though potential clients should weigh the associated risks carefully.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Year Founded | 2000 | 1998 |
| Publicly Traded (Listed) | ||
| Bank | ||
| 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 | Yes | |
| ACH or SEPA Transfers | ||
| PayPal (Deposit/Withdraw) | ||
| Skrill (Deposit/Withdraw) | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment offerings of Questrade and Alpari, it becomes evident that both platforms cater to diverse trading needs. Questrade boasts an impressive variety of 641 tradeable symbols, including 110 forex pairs, making it a top choice for those seeking extensive options. They support forex trading as both CFDs and spot contracts, and users can trade securities listed on U.S. and international exchanges, such as Apple and Vodafone shares. Additionally, Questrade offers cryptocurrency derivatives, although not actual cryptocurrencies. With a high ranking of 5 stars for the range of investments, Questrade is recognized as a solid choice, earning the #11 spot from ForexBrokers.com.
Meanwhile, Alpari provides a more limited selection with 105 tradeable symbols and 46 forex pairs, although they also offer forex trading as CFDs and spot contracts. Alpari does facilitate trading of securities on international exchanges and extends the ability to trade cryptocurrency derivatives. A notable feature of Alpari is its capacity for copy trading, which can be an attractive option for some investors. Despite these offerings, Alpari's range of investments receives a 3-star rating, and it ranks #63 among 63 brokers on ForexBrokers.com, indicating a more modest selection when compared to Questrade.
| 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 | |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | |
| Cryptocurrency (Physical) | ||
| 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 users with the opportunity to experiment through free virtual demo accounts. Each also offers proprietary platforms developed in-house, allowing for customized trading experiences. Additionally, both firms support Windows-based desktop platforms, as well as web-based trading platforms. However, while Alpari offers the popular MetaTrader 4 and MetaTrader 5 platforms, Questrade does not. On the other hand, Questrade provides access to DupliTrade, whereas Alpari specializes in copy trading and refrains from offering DupliTrade support.
In terms of charting capabilities, Questrade stands out with 20 available drawing tools, compared to Alpari's 15. Both brokers enable trading directly from a stock chart, which can enhance the trading experience. However, Questrade distinguishes itself with 52 watch list columns, providing extensive customization compared to Alpari's 7 columns. Despite both receiving a four-star rating for their trading platforms and tools, Questrade appears to have a slight edge, ranking #34 among 63 brokers on ForexBrokers.com, while Alpari comes in at #55. This suggests that Questrade may offer more features appealing to traders seeking a broad array of analytical options and customization.
| 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 | Yes | |
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | Yes | |
| DupliTrade | Yes | |
| ZuluTrade | ||
| 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.
When comparing Questrade and Alpari's mobile trading apps, both platforms offer compatibility with iPhone and Android devices. They also provide essential features like stock and forex price alerts and the ability to create watchlists with real-time quotes. However, Questrade takes a lead when synchronizing watchlist symbols between its mobile app and online account, while Alpari does not offer this feature. Moreover, Questrade provides more options for technical analysis, offering 64 technical studies compared to Alpari's 30. Both apps allow drawing trendlines on charts and viewing different time frames, such as daily or weekly.
Questrade further distinguishes itself with an auto-save functionality for chart drawings, a feature not available with Alpari. Despite these differences, both apps receive a solid four-star rating for mobile trading experiences. However, Questrade is ranked higher by ForexBrokers.com, coming in at #34, while Alpari is positioned at #56 out of 63 reviewed brokers. This suggests a slight preference for Questrade's mobile trading app among users and reviewers.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research tools of online brokers Questrade and Alpari, several key differences become apparent. Questrade does not offer daily market commentary or forex news from top-tier sources like Bloomberg and Reuters, while Alpari provides these high-level insights to its traders. Both brokers support technical and fundamental research tools from Autochartist, ensuring traders have access to valuable data and analyses. However, Questrade offers additional research tools from Trading Central and market research from TipRanks, giving it a slight edge in this area.
Furthermore, both Questrade and Alpari offer economic calendars that highlight global news events, keeping traders informed about market-moving announcements. Despite these offerings, neither broker provides sentiment-based trading tools or resources from Acuity Trading. In terms of overall research quality, Questrade is rated 3.5 out of 5 stars and ranks 51st among 63 brokers according to ForexBrokers.com. Alpari, on the other hand, is rated 3 stars and ranks 57th, indicating that while both have strengths, Questrade holds a marginal advantage in research resources over Alpari.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Daily Market Commentary | ||
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | |
| Social Sentiment - Currency Pairs | ||
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Both Questrade and Alpari offer a range of educational resources for beginners interested in forex and CFDs. If you're new to trading, you'll find no shortage of educational materials at either broker. Both provide over 10 educational pieces, including articles, videos, and archived webinars, focused on essential forex and CFDs topics. When it comes to webinar access, Questrade shines with its searchable archive of previously recorded client webinars. While Alpari does not offer this feature, both brokers are generous with their beginner video content, offering at least 10 beginner-friendly videos each to help set a strong foundation for new traders.
In terms of advanced trading videos or online webinars held on a regular basis, neither broker stands out, as these features are not prominently provided. However, if you're on the lookout for a comprehensive investor dictionary, Alpari is your choice, offering clear definitions of over 50 investing terms. Rating-wise, Questrade slightly edges out Alpari, with a rating of 3.5 stars compared to Alpari's 3 stars for education. Moreover, in the education rankings by ForexBrokers.com, Questrade is positioned at #36 out of 63 brokers, ahead of Alpari, which sits at #48.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | ||
| Client Webinars (Archived) | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | ||
| Investor Dictionary (Glossary) | 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
|
Alpari
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 68 |
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When comparing online brokers Questrade and Alpari, neither offers the ability to buy actual (delivered) cryptocurrency, but both provide the option to purchase cryptocurrency derivatives.
In comparing online brokers Questrade and Alpari, neither supports ACH or SEPA transfers for account transactions, while PayPal is also not an option for both; however, Alpari stands out by offering Skrill, and both brokers provide deposit and withdrawal options through Visa, Mastercard, and bank wires.
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 | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | Questrade | Alpari | |
|---|---|---|---|
| Trust Score | 86 | 68 | |
| Year Founded | 2000 | 1998 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | |||
| 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) | |||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | |||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | |||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). |
| Tier-2 Licenses (Trusted) | Questrade | Alpari | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | |||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| 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 | ||
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| Cryptocurrency (Physical) | |||
| 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 | Yes | ||
| Inactivity Fee | |||
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes |
| Funding | Questrade | Alpari | |
|---|---|---|---|
| Minimum Deposit | $250 | $20 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers |
| Trading Platforms | Questrade | Alpari | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | Yes | ||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| 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 | ||
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | ||
| Mobile Economic Calendar | Yes | Yes |
| Research | Questrade | Alpari | |
|---|---|---|---|
| Daily Market Commentary | |||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | ||
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | |||
| Economic Calendar | Yes | Yes |
| Education | Questrade | Alpari | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | |||
| Client Webinars (Archived) | Yes | ||
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | |||
| Investor Dictionary (Glossary) | 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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