Written by ForexBrokers.com
In this head to head comparison of City Index 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.
City Index vs. Questrade: City Index was founded in 1983 and is publicly traded, while Questrade started in 2000 and is not publicly traded. Neither broker is a bank.
For regulation and safety, City Index holds seven Tier-1 and one Tier-2 licenses and earns a 99/99 Trust Score from ForexBrokers.com (90–99 = highly trusted). Questrade holds one Tier-1 license, no Tier-2 licenses, and scores 85/99 (80–89 = trusted).
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Year Founded | 1983 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When it comes to commissions and fees, City Index generally comes out ahead of Questrade. City Index’s pricing for CFDs, forex, and spread betting is in line with the industry average, and traders can often get the best rates by using its own platform or MetaTrader. It also offers pricing perks for active traders, including the Premium Trader account for those who deposit more than £10,000, plus rebates for high-volume clients. City Index is rated 4.5 stars for commissions and fees and is ranked #16 out of 36 brokers by ForexBrokers.com.
Questrade Global uses a spread-only model, so trading costs are built into the bid-ask spread rather than charged as a separate commission. While Questrade says spreads can be as low as 0.8 pips under normal market conditions, typical major-pair spreads appear closer to 2.1 to 2.5 pips, which can make forex trading relatively expensive. Its CFD pricing can also add up quickly because of the $9.95 USD trading fee per unit, on top of the spread and any overnight financing costs. Questrade is rated 3.5 stars for commissions and fees and is ranked #34 out of 36 brokers by ForexBrokers.com.
In simple terms, City Index offers the better value for most cost-conscious traders, especially those trading forex or CFDs on a regular basis. Questrade may suit traders who prefer a spread-based pricing model, but its overall fees are higher in many common trading scenarios, particularly for CFDs.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Minimum Deposit | £100.00 | $0 |
| Average spread (EUR/USD) - Standard account | 1.4 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing City Index vs Questrade for range of investments, City Index offers a much wider selection overall, with 13,500 tradeable symbols compared with Questrade’s 675. Both brokers support forex trading, but Questrade lists more forex pairs at 110 versus City Index’s 66. Neither broker offers direct buying of U.S. or international exchange-traded shares, and neither lets clients buy actual cryptocurrency.
Where City Index stands out is in extra trading features: it offers copy trading and cryptocurrency CFDs, while Questrade does not. Both brokers are rated 5 stars for Range of Investments, but ForexBrokers.com ranks City Index higher at #8 out of 36 brokers, ahead of Questrade at #12. For traders who want a broader product list and more added trading tools, City Index has the edge.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 675 |
| Forex Pairs (Total) | 66 | 110 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | No |
| 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.
City Index and Questrade both give traders several ways to get started, including a free demo account, a proprietary platform, a Windows desktop download, and a web-based platform. Each broker also lets users trade directly from a chart, which can make it easier to react quickly while watching price moves. In ForexBrokers.com’s Trading Platforms and Tools category, City Index is rated 4.5 out of 5 stars and ranks #11 out of 36 brokers, while Questrade earns 4 out of 5 stars and ranks #29.
Where City Index stands out is in extras that can matter to more active traders: it offers copy trading and supports MetaTrader 4, while Questrade does not offer either feature. Neither broker supports MetaTrader 5. In simple terms, both platforms cover the basics well, but City Index offers more choice for traders who want more tools and more ways to follow other traders.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 88 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and Questrade both make it easy to trade from your phone, with iPhone and Android apps, price alerts for stocks or forex, and watchlist syncing so your saved symbols stay updated between the mobile app and your online account. Each app also supports trendline drawing on charts and automatically saves your chart drawings, which is helpful if you switch between devices or come back to a chart later.
Where City Index stands out is in charting and overall mobile app quality. Its app offers 88 technical studies, compared with 64 at Questrade, giving traders more tools for chart analysis on the go. City Index is also rated higher for mobile trading apps at 4.5 out of 5 stars and is ranked #9 out of 36 brokers by ForexBrokers.com, while Questrade holds a 3.5-star rating and ranks #29 out of 36. For traders who want a stronger mobile experience, City Index has the edge.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, City Index has the edge over Questrade for most traders looking for timely insights and trading ideas. City Index offers daily market commentary, forex news from major sources like Bloomberg, Reuters, and Dow Jones, a sentiment tool that shows long and short positions, and an economic calendar for tracking key global events. It also includes Trading Central tools, which can help with technical and fundamental analysis. By comparison, Questrade does not provide daily market commentary, top-tier forex news, sentiment data, or an economic calendar, though it does offer Autochartist, Trading Central, and TipRanks research.
Overall, City Index is rated 4.5 out of 5 stars for research and ranks #10 out of 36 brokers in the ForexBrokers.com Research category, while Questrade is rated 3.5 stars and ranks #35. If you want a broker with more built-in market coverage and trader-focused research features, City Index is the stronger pick. Questrade still has useful tools, but its research offering is more limited in areas like news, commentary, and market sentiment.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
For beginners looking for learning support, City Index offers a much wider range of education than Questrade. City Index provides forex and CFD education, runs online client webinars at least once a month, and includes 10 or more beginner videos as well as 10 or more advanced videos. Questrade, by comparison, does not meet the same level of forex or CFD learning content, does not offer monthly educational webinars, and does not have the same depth of beginner or advanced video material.
That difference shows up in third-party ratings as well. City Index earns 4.5 out of 5 stars for Education and ranks #9 out of 36 brokers in the category, while Questrade is rated 3.5 stars and ranks #28. If you want more structured help and more content aimed at new traders, City Index is the stronger choice.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that City Index is better than Questrade. City Index finished with an overall rank of #8, while Questrade finished with an overall rank of #29.
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
| Feature |
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Questrade
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| Trust Score | 99 | 85 |
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In the City Index vs Questrade comparison for cryptocurrency trading, both online brokers do not offer purchasing actual (delivered) crypto, but only City Index provides cryptocurrency CFD trading while Questrade does not.
City Index vs Questrade: For deposits and withdrawals, City Index supports ACH/SEPA, PayPal, and bank wires (no Skrill), while Questrade supports bank wires only (no ACH/SEPA, PayPal, or Skrill); Visa/Mastercard availability is not specified for either broker.
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 | City Index | Questrade | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | City Index Review | Questrade Review |
| Broker Screenshots | City Index | Questrade | |
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| Regulation | City Index | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1983 | 2000 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | City Index | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | City Index | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | City Index | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 675 | |
| Forex Pairs (Total) | 66 | 110 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | No | |
| 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 | City Index | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.4 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | City Index | Questrade | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | City Index | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | City Index | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 88 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | City Index | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | City Index | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | City Index | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | City Index Review | Questrade Review |
| Overall | City Index | Questrade | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | City Index Review | Questrade Review |
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