City Index vs Questrade 2025
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.
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 and Questrade are both well-known online brokers with distinct backgrounds and regulatory standings. Founded in 1983, City Index has a strong presence in the industry and is publicly traded, adding to its credibility. Questrade, founded more recently in 2000, is not publicly traded. Both brokers are not banks but are recognized for their financial services. When it comes to regulatory oversight, City Index stands out with 7 Tier-1 licenses and 1 Tier-2 license, securing a top-tier Trust Score of 99 on ForexBrokers.com, indicating a highly trusted status. In comparison, Questrade holds 2 Tier-1 licenses with no Tier-2 licenses, earning a Trust Score of 86, which falls into the trusted category.
This comparison reveals that while both brokers are reliable options, City Index offers greater regulatory assurance thanks to its higher number of Tier-1 licenses and higher trust rating. This makes City Index an appealing choice for those prioritizing regulation and transparency. Meanwhile, Questrade remains a solid option, particularly for those familiar with its services in the Canadian market. Both offer unique advantages tailored to different investor needs, making them worthy contenders in the competitive landscape of online trading.
Feature |
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Year Founded | 1983 | 2000 |
Publicly Traded (Listed) | Yes | |
Bank | ||
Tier-1 Licenses | 7 | 2 |
Tier-2 Licenses | 1 | 0 |
Tier-3 Licenses | 0 | 0 |
Tier-4 Licenses | 1 | 0 |
When it comes to comparing the commissions and fees charged by City Index and Questrade, traders may find City Index to offer a more competitive landscape. City Index provides pricing for trading CFDs, forex, and spread-betting products that aligns with the industry average. For the best pricing, City Index recommends using their proprietary platforms or MetaTrader. Active traders with a deposit of over £10,000 may benefit from a Premium Trader account, which offers exclusive pricing, dedicated support, and more. City Index features an average spread of 0.74 pips on the EUR/USD, which is on par with the industry norm but still behind top performers in the category like Tickmill. Meanwhile, rebates can be an advantage for U.K.-based professional traders, starting at £4 per million for heavy trading volumes.
On the other hand, Questrade presents target spreads on the EUR/USD at 1.9 pips, which is noticeably higher than the industry average, potentially making it less appealing for cost-conscious traders. This difference in pricing positions City Index as a more cost-effective option for many traders.
City Index earns a commendable 4.5 stars out of five for its commissions and fees, placing it 14th out of 63 brokers according to ForexBrokers.com rankings. Meanwhile, Questrade receives a modest 3-star rating and ranks 58th in the same category, highlighting a significant disparity in value for cost between the two platforms.
Feature |
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Minimum Deposit | £100.00 | $250 |
Average Spread EUR/USD - Standard | 1.4 | N/A |
All-in Cost EUR/USD - Active | 0.74 | N/A |
Active Trader or VIP Discounts | Yes | |
ACH or SEPA Transfers | Yes | |
PayPal (Deposit/Withdraw) | Yes | |
Skrill (Deposit/Withdraw) | ||
Visa/Mastercard (Credit/Debit) | Yes | Yes |
Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing City Index and Questrade for their range of investment offerings, both brokers provide compelling options with distinct features. City Index stands out with an impressive selection of 13,500 tradeable symbols, underscoring its extensive inventory. However, in the realm of forex trading, City Index offers 66 forex pairs as CFDs or spot contracts. On the other hand, Questrade provides a wider selection of 110 tradeable forex pairs, which might be appealing for forex traders looking for diversity. Moreover, both brokers offer the ability to trade cryptocurrency derivatives, yet neither provides the service to purchase actual cryptocurrencies. City Index also offers copy trading, a feature not available on Questrade, which can attract traders interested in mirroring successful strategies.
Questrade differentiates itself by allowing clients to invest directly in U.S. and international exchange-traded securities, letting you buy stocks like Apple or Vodafone directly, a feature that City Index does not provide. Both platforms are highly rated for their range of investments, each scoring a perfect 5 stars, though City Index edges ahead in rankings at #8 compared to Questrade at #11 according to ForexBrokers.com. Ultimately, the choice between City Index and Questrade may hinge on your specific trading needs, whether you prioritize a vast array of symbols and copy trading, or a broader selection of forex pairs and direct stock investments.
Feature |
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Forex Trading (Spot or CFDs) | Yes | Yes |
Tradeable Symbols (Total) | 13500 | 641 |
Forex Pairs (Total) | 66 | 110 |
U.S. Stock Trading (Non CFD) | Yes | |
Int'l Stock Trading (Non CFD) | 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 looking at the trading platforms offered by City Index and Questrade, both brokers provide paper trading, allowing users to practice without financial risk. Both platforms have developed their proprietary systems and support trading through Windows-based desktop and web-based platforms. While City Index gives traders the opportunity to copy trade and use MetaTrader 4, Questrade does not offer these features but does support DupliTrade, a platform for copying trades.
While City Index boasts 239 drawing tools for charting compared to Questrade's 20, Questrade offers more expansive watch lists with 52 columns against City Index's 11. Both allow trading directly from stock charts, enhancing user experience. Rated 4.5 stars for their trading tools, City Index is ranked 11th among 63 brokers, outpacing Questrade, which holds 4 stars and ranks 34th in the same category by ForexBrokers.com.
Feature |
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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) | ||
DupliTrade | Yes | |
ZuluTrade | ||
Charting - Indicators / Studies (Total) | 88 | 64 |
Charting - Drawing Tools (Total) | 239 | 20 |
Charting - Trade From Chart | Yes | Yes |
Watchlists - Total Fields | 11 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of City Index and Questrade, both platforms are available for iPhone and Android users, ensuring a wide range of functionality for traders on the go. These apps provide features like stock or forex price alerts and watchlist syncing, so any updates made in the app sync with your online account. City Index offers an edge with 88 technical studies available for charting, compared to Questrade’s 64. Both apps support trendline drawing and allow users to view charts in multiple time frames, while also ensuring that any chart drawings are auto-saved. The opportunity to create personalized watchlists with real-time quotes is another shared benefit.
Overall, City Index takes a slightly higher spot in user satisfaction and industry rankings. It boasts a 4.5-star rating for its mobile trading app, placing it at rank #9 out of 63 brokers according to ForexBrokers.com. Meanwhile, Questrade is rated with 4 stars and holds rank #34. Whether you value a slightly superior ranking and more charting tools with City Index or the consistency and ease offered by Questrade, both apps deliver a comprehensive mobile trading experience for their users.
Feature |
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Android App | Yes | Yes |
Apple iOS App | Yes | Yes |
Mobile Alerts - Basic Fields | Yes | Yes |
Watchlist Syncing | Yes | Yes |
Mobile Charting - Indicators / Studies | 88 | 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 exploring market research tools offered by online brokers, City Index stands out for its comprehensive offerings. City Index provides daily market commentary and access to forex news from esteemed sources like Bloomberg and Reuters. Additionally, they offer clients technical analysis tools from Trading Central, sentiment-based tools to gauge market positions, and a detailed economic calendar for tracking global news events. City Index has a solid reputation with a 4.5-star research rating and a commendable #10 ranking among 63 brokers.
On the other hand, Questrade offers users technical analysis tools from both Autochartist and Trading Central, as well as market research from TipRanks. While they lack in providing daily market commentary and forex news from top-tier news agencies, Questrade covers the basics with a reliable economic calendar. Still, in terms of overall research capabilities, Questrade is rated at 3.5 stars and is ranked #51 by ForexBrokers.com, indicating room for improvement in comparison to City Index.
Feature |
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Daily Market Commentary | Yes | |
Forex News (Top-Tier Sources) | Yes | |
Autochartist | Yes | |
Trading Central (Recognia) | Yes | Yes |
Social Sentiment - Currency Pairs | Yes | |
TipRanks | Yes | |
Signal Centre (Acuity Trading) | ||
Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered by City Index and Questrade, beginner traders have access to a variety of learning tools from both brokers. City Index stands out with its comprehensive offerings, including over 10 educational pieces focused on forex or CFDs, online webinars hosted monthly, and a searchable archive of past webinars. In addition, City Index provides more than 10 beginner-friendly videos and an extensive investor dictionary with over 50 investing terms. These resources contribute to its impressive 4.5-star education rating and a #9 ranking out of 63 brokers on ForexBrokers.com.
On the other hand, Questrade also offers educational materials, including more than 10 forex or CFDs articles, videos, or archived webinars, and 10 beginner videos. Furthermore, Questrade provides access to past webinars through a searchable archive. However, it lacks monthly webinars, advanced educational videos for experienced traders, and a comprehensive investor dictionary. These limitations contribute to Questrade's 3.5-star education rating and a #36 ranking among 63 brokers for educational resources on ForexBrokers.com. For beginners seeking a richer educational experience, City Index may be the preferred choice.
Feature |
|
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Education (Forex or CFDs) | Yes | Yes |
Client Webinars | Yes | |
Client Webinars (Archived) | Yes | Yes |
Videos - Beginner Trading Videos | Yes | Yes |
Videos - Advanced Trading Videos | Yes | |
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 City Index is better than Questrade. City Index finished with an overall rank of #8, while Questrade finished with an overall rank of #32.
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.
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Overall Rating |
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Trust Score | 99 | 86 |
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Both City Index and Questrade do not offer the ability to buy actual (delivered) cryptocurrency, but they both provide options for trading cryptocurrency derivatives.
City Index allows ACH, SEPA, PayPal, Visa, Mastercard, and bank wire transfers for deposits and withdrawals, while Questrade supports Visa, Mastercard, and bank wire transfers for managing 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 5Overall Rating | City Index | Questrade | |
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Trust Score | 99 | 86 | |
Winner | check_circle | ||
Review | City Index Review | Questrade Review |
Broker Screenshots | City Index | Questrade | |
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Broker Gallery (click to expand) |
Regulation | City Index | Questrade | |
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Trust Score | 99 | 86 | |
Year Founded | 1983 | 2000 | |
Publicly Traded (Listed) | Yes | ||
Bank | |||
Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
Tier-1 Licenses | 7 | 2 | |
Tier-2 Licenses | 1 | 0 | |
Tier-3 Licenses | 0 | 0 | |
Tier-4 Licenses | 1 | 0 |
Tier-1 Licenses (Highly Trusted) | City Index | Questrade | |
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Australia (ASIC Authorised) | Yes | ||
Canada (CIRO Authorised) | Yes | Yes | |
Hong Kong (SFC Authorised) | |||
Japan (SFC Authorised) | |||
Singapore (MAS Authorised) | Yes | ||
Switzerland (FINMA Authorised) | |||
United Kingdom (U.K.) (FCA Authorised) | Yes | ||
USA (CFTC Authorized) | |||
New Zealand (FMA Authorised) | |||
Regulated in one or more EU or EEA countries (MiFID). | Yes |
Tier-2 Licenses (Trusted) | City Index | Questrade | |
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Kenya (CMA Authorised) | |||
Israel (ISA Authorised) | |||
South Africa (FSCA Authorised) | |||
UAE (DFSA/Central Bank Authorised) | Yes | ||
India (SEBI Authorised) | |||
Jordan (JSC Authorised) |
Investments | City Index | Questrade | |
---|---|---|---|
Forex Trading (Spot or CFDs) | Yes | Yes | |
Tradeable Symbols (Total) | 13500 | 641 | |
Forex Pairs (Total) | 66 | 110 | |
U.S. Stock Trading (Non CFD) | Yes | ||
Int'l Stock Trading (Non CFD) | 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 | City Index | Questrade | |
---|---|---|---|
Average Spread EUR/USD - Standard | 1.4 | N/A | |
All-in Cost EUR/USD - Active | 0.74 | N/A | |
Active Trader or VIP Discounts | Yes | ||
Inactivity Fee | Yes | ||
Execution: Agency Broker | Yes | ||
Execution: Market Maker | Yes |
Funding | City Index | Questrade | |
---|---|---|---|
Minimum Deposit | £100.00 | $250 | |
PayPal (Deposit/Withdraw) | Yes | ||
Skrill (Deposit/Withdraw) | |||
Visa/Mastercard (Credit/Debit) | Yes | Yes | |
Bank Wire (Deposit/Withdraw) | Yes | Yes | |
ACH or SEPA Transfers | Yes |
Trading Platforms | City Index | Questrade | |
---|---|---|---|
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) | |||
cTrader | |||
DupliTrade | Yes | ||
ZuluTrade |
Trading Tools | City Index | Questrade | |
---|---|---|---|
Virtual Trading (Demo) | Yes | Yes | |
Alerts - Basic Fields | Yes | Yes | |
Watchlists - Total Fields | 11 | 52 | |
Charting - Indicators / Studies (Total) | 88 | 64 | |
Charting - Drawing Tools (Total) | 239 | 20 | |
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 Alerts - Basic Fields | Yes | Yes | |
Mobile Watchlist | Yes | Yes | |
Watchlist Syncing | Yes | Yes | |
Mobile Charting - Indicators / Studies | 88 | 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 | City Index | Questrade | |
---|---|---|---|
Daily Market Commentary | Yes | ||
Forex News (Top-Tier Sources) | Yes | ||
Autochartist | Yes | ||
Trading Central (Recognia) | Yes | Yes | |
TipRanks | Yes | ||
Social Sentiment - Currency Pairs | Yes | ||
Economic Calendar | Yes | Yes |
Education | City Index | Questrade | |
---|---|---|---|
Education (Forex or CFDs) | Yes | Yes | |
Client Webinars | Yes | ||
Client Webinars (Archived) | Yes | Yes | |
Videos - Beginner Trading Videos | Yes | Yes | |
Videos - Advanced Trading Videos | Yes | ||
Investor Dictionary (Glossary) | Yes |
Major Forex Pairs | City Index | Questrade | |
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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 | City Index Review | Questrade Review |
Overall | City Index | Questrade | |
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Overall Rating |
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Commissions & Fees |
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Range of Investments |
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Platforms & Tools |
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Mobile Trading |
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Research |
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Education |
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Trust Score | 99 | 86 | |
Winner | check_circle | ||
Review | City Index Review | Questrade Review |