Written by ForexBrokers.com
In this head to head comparison of BlackBull Markets vs Questrade, 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 2014, BlackBull Markets is a privately-owned online broker, and while it isn't a bank or publicly traded company, it holds one Tier-1 license—considered highly trusted by industry standards. With a ForexBrokers.com Trust Score of 78, BlackBull Markets is categorized as having an average risk profile. In comparison, Questrade, established in 2000, also operates privately without being a bank or listed on a stock exchange. However, Questrade holds two Tier-1 licenses, enhancing its credibility and trustworthiness.
Questrade outshines BlackBull Markets in terms of trust, with a ForexBrokers.com Trust Score of 86, therefore classifying it as trusted. Although both brokers offer secure trading environments, Questrade's higher trust score and additional Tier-1 license may appeal to more risk-averse investors seeking reliable regulatory oversight.
| Feature |
BlackBull Markets
|
Questrade
|
|---|---|---|
| Year Founded | 2014 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing online brokers BlackBull Markets and Questrade, it's clear that they differ significantly in terms of commissions and fees. BlackBull Markets, known for its competitive pricing, offers three account types that cater to different trading preferences. The Prime account is a standout, with an average spread of 0.16 on the EUR/USD, resulting in an all-in cost of 0.76 pips when you include a per-side commission of $6 per 10,000 traded. Although this account requires a $2,000 minimum deposit, its lower spreads make it appealing to serious traders. The Standard account requires no deposit but has higher spreads, whereas the ECN Institutional account is designed for elite traders with a minimum deposit of $20,000 and lower commission rates of $4 per round turn.
Questrade, in contrast, presents a less cost-effective option with target spreads on the EUR/USD set at 1.9 pips, which is considered steep relative to the industry average. This likely contributes to its lower star rating and ranking, reflecting less favorable trading conditions for those focused on minimizing fees.
Both brokers have been evaluated with BlackBull Markets scoring 4.5 out of 5 stars in terms of commissions and fees, ranking 18th out of 63 brokers on ForexBrokers.com. Meanwhile, Questrade received 3 out of 5 stars, placing it at 58th in the same category. For traders, these distinctions highlight BlackBull Markets as a more cost-efficient choice for those seeking lower trading costs, particularly through its Prime account.
| Feature |
BlackBull Markets
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average Spread EUR/USD - Standard | 0.71 | N/A |
| All-in Cost EUR/USD - Active | 0.71 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
BlackBull Markets and Questrade are both reputable online platforms that cater to a variety of investment preferences. BlackBull Markets stands out with an impressive offering of 26,000 tradeable symbols compared to Questrade's 641. Both brokers allow you to engage in forex trading either through CFDs or spot contracts. While BlackBull Markets has 72 tradeable forex pairs, Questrade offers a larger selection of 110 pairs. Both platforms enable investors to trade exchange-traded securities on U.S. exchanges and international markets, providing opportunities to invest in popular stocks like Apple or Vodafone.
When it comes to cryptocurrency investments, neither platform offers the ability to purchase actual cryptocurrencies. However, both allow the trading of cryptocurrency derivatives. A unique feature of BlackBull Markets is its provision for copy trading, which is not available with Questrade. Both brokers excel in their range of investments, each earning a 5-star rating. Nevertheless, BlackBull Markets holds a higher ranking in the "Range of Investments" category, securing the 6th spot according to ForexBrokers.com, compared to Questrade's 11th position.
| Feature |
BlackBull Markets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 26000 | 641 |
| Forex Pairs (Total) | 72 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| 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 offered by BlackBull Markets and Questrade, both brokers provide users with essential features like simulated (paper) trading accounts and Windows-based desktop apps, making it easy for traders to test strategies before committing real money. An advantage for Questrade is its proprietary platform, developed in-house to cater to its users' needs, while BlackBull Markets primarily relies on the popular MetaTrader 4 and 5 platforms, favored by many forex traders for their extensive tools and functionalities.
Regarding additional features, BlackBull Markets has a slight edge by supporting copy trading via ZuluTrade and offering 60 drawing tools for charting, compared to Questrade's 20. However, Questrade compensates with the DupliTrade service, providing different social trading opportunities. While both brokers allow direct trading from a stock chart, Questrade's watch lists offer more customization with 52 columns compared to BlackBull's 6. Both platforms score a commendable 4-star rating for their trading tools, though BlackBull Markets is ranked slightly higher at #29 compared to Questrade's #34, according to ForexBrokers.com.
| Feature |
BlackBull Markets
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | Yes |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 109 | 64 |
| Charting - Drawing Tools (Total) | 60 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading experience of BlackBull Markets and Questrade, both brokers cater well to iPhone and Android users by providing essential features such as price alerts and watchlist syncing. Traders can easily track their investments with real-time quotes, making it convenient to manage assets on the go. Each app allows users to draw trendlines and explore several time frames on charts, with the confidence that drawings will be saved automatically. However, they differ in the number of technical studies available for chart analysis—BlackBull Markets offers 30 while Questrade provides 64, which could appeal to those who prioritize extensive analytical tools.
Despite these offerings, both apps share the same customer rating of four out of five stars for mobile trading effectiveness. BlackBull Markets has a slight edge over Questrade based on rankings by ForexBrokers.com, coming in at 31 out of 63 brokers, compared to Questrade's 34. Ultimately, while both apps deliver a solid user experience with similar core features, the additional technical studies in Questrade's app might engage users who need more comprehensive market analysis tools.
| Feature |
BlackBull Markets
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings, BlackBull Markets provides a range of helpful tools for traders. This broker stands out with daily market commentary and a sentiment-based trading tool that reveals the balance between long and short positions across various instruments. Traders also benefit from technical analysis resources through Autochartist. On the other hand, BlackBull Markets lacks forex news from top-tier sources and does not incorporate resources from Trading Central or TipRanks. Despite these gaps, BlackBull Markets is rated 4 stars and ranked 18th for research by ForexBrokers.com.
Questrade, in comparison, does not provide daily market commentary or a sentiment-based trading tool. However, it does offer diverse research tools like Autochartist and Trading Central, enhancing its technical analysis capabilities. Questrade also includes market research from TipRanks, although it shares the absence of forex news from major providers with BlackBull Markets. Additionally, both brokers offer economic calendars for tracking important global events. Despite having a slightly broader scope in some areas, Questrade is rated 3.5 stars and ranked 51st by ForexBrokers.com in the research category, indicating a less favorable standing compared to BlackBull Markets.
| Feature |
BlackBull Markets
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | No | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | Yes |
| 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, BlackBull Markets and Questrade provide various options, but there are some key differences to consider. Both brokers offer at least ten educational pieces focused on forex or CFDs, including articles, videos, and webinars. However, BlackBull Markets stands out by offering online educational webinars at least once a month, whereas Questrade does not. In addition, both brokers provide a searchable archive of recorded webinars and offer a collection of beginner-friendly educational videos. However, for advanced educational videos tailored for experienced traders, BlackBull Markets again takes the lead, while Questrade falls short in this area.
BlackBull Markets enhances its educational offerings with an extensive investor dictionary featuring more than 50 investing terms, a resource that Questrade does not provide. These differences contribute to BlackBull Markets' slightly higher education rating of 4 stars compared to Questrade's 3.5 stars. Additionally, in the ForexBrokers.com Education category, BlackBull Markets is ranked 29th out of 63 brokers, while Questrade is positioned at 36th. For beginners seeking comprehensive educational support, BlackBull Markets offers a more complete suite of learning tools to help navigate the world of trading.
| Feature |
BlackBull Markets
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that BlackBull Markets is better than Questrade. BlackBull Markets finished with an overall rank of #24, while Questrade finished with an overall rank of #32.
BlackBull Markets is a plain-vanilla MetaTrader broker with a growing range of products and support for a handful of third-party social copy trading platforms.
| Feature |
BlackBull Markets
|
Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 78 | 86 |
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Both BlackBull Markets and Questrade do not offer the ability to buy actual (delivered) cryptocurrencies, but they do provide the option to trade cryptocurrency derivatives.
BlackBull Markets and Questrade both support Visa or Mastercard and bank wires for funding accounts, but only BlackBull Markets offers Skrill as an additional deposit and withdrawal option, while neither broker provides ACH, SEPA, or PayPal services.
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 | BlackBull Markets | Questrade | |
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| Trust Score | 78 | 86 | |
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| Review | BlackBull Markets Review | Questrade Review |
| Broker Screenshots | BlackBull Markets | Questrade | |
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| Regulation | BlackBull Markets | Questrade | |
|---|---|---|---|
| Trust Score | 78 | 86 | |
| Year Founded | 2014 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 1 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | BlackBull Markets | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | Yes | |
| 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) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | BlackBull Markets | Questrade | |
|---|---|---|---|
| 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 | BlackBull Markets | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 26000 | 641 | |
| Forex Pairs (Total) | 72 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | BlackBull Markets | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.71 | N/A | |
| All-in Cost EUR/USD - Active | 0.71 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | BlackBull Markets | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | BlackBull Markets | Questrade | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | Yes | No |
| Trading Tools | BlackBull Markets | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 52 | |
| Charting - Indicators / Studies (Total) | 109 | 64 | |
| Charting - Drawing Tools (Total) | 60 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | BlackBull Markets | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | BlackBull Markets | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | BlackBull Markets | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | BlackBull Markets | Questrade | |
|---|---|---|---|
| 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 | BlackBull Markets Review | Questrade Review |
| Overall | BlackBull Markets | Questrade | |
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| Trust Score | 78 | 86 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | Questrade Review |
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