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 and Questrade each provide online brokerage services, but they vary significantly in their trust ratings and regulatory backing. Founded in 1983, City Index is publicly traded and boasts a top-tier ForexBrokers.com Trust Score of 99, reflecting its high level of trustworthiness. It holds seven Tier-1 licenses and one Tier-2 license, endorsements that signal its extensive regulatory compliance and reputation within the financial sector. Unlike City Index, Questrade was founded more recently in 2000 and isn't publicly traded. It has a solid Trust Score of 86, which is categorized as trusted, and is backed by two Tier-1 licenses. However, Questrade lacks Tier-2 licenses, which might be a consideration for investors focused on regulatory security.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Year Founded | 1983 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| 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 |
City Index
|
Questrade
|
|---|---|---|
| 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 | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index and Questrade both offer clients a wide array of investment options, though they each have their own strengths. When it comes to forex trading, both platforms provide trading as CFDs or spot contracts, but Questrade shines with 110 tradeable forex pairs compared to City Index's 66. However, City Index takes the lead in the overall number of tradeable symbols, boasting 13,500 compared to Questrade's 641. Another key difference is that City Index offers copy trading, allowing investors to replicate strategies from successful traders, a feature not available with Questrade.
When it comes to trading exchange-traded securities directly on U.S. or international markets, Questrade holds the upper hand, enabling clients to invest in companies like Apple or Vodafone directly. Both platforms allow for trading cryptocurrency derivatives, although neither offers the ability to purchase actual cryptocurrencies. Despite these differences, both City Index and Questrade earn high marks, each rated at five stars for their range of investments. According to ForexBrokers.com, City Index is ranked #8 while Questrade follows closely at #11 out of 63 brokers in this category, highlighting their respective strengths in the investment landscape.
| Feature |
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) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | 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.
City Index and Questrade both offer robust trading platforms that cater to diverse trading preferences. Both brokers provide simulated (paper) trading via free virtual demo accounts, allowing users to hone their skills without financial risk. They each boast proprietary platforms and Windows-based desktop download options, alongside web-based trading platforms accessible via browsers. However, when it comes to advanced trading features, City Index edges ahead by supporting the widely popular MetaTrader 4 (MT4) and offering copy trading, whereas Questrade does not. Instead, Questrade provides the DupliTrade feature, giving traders alternative options for strategy duplication.
Charting capabilities provide a key differentiator between these brokers. City Index offers an impressive suite with 239 drawing tools, far surpassing Questrade's 20. Both platforms allow direct trading from stock charts, enhancing user engagement and convenience. Watch list customization is another area of divergence; Questrade supports up to 52 columns, while City Index offers 11. These differences are reflected in their ratings, with City Index scoring 4.5 stars compared to Questrade's 4 stars from ForexBrokers.com. Additionally, City Index ranks #11 out of 63 brokers for its trading platforms and tools, significantly higher than Questrade's #34 placement.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| 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 |
City Index
|
Questrade
|
|---|---|---|
| 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 comparing the market research offerings of City Index and Questrade, distinct differences emerge that may influence your choice. City Index stands out with daily market commentary and access to forex news from prestigious sources like Bloomberg and Reuters—an advantage Questrade does not match. City Index also provides a valuable sentiment-based trading tool, showing the ratio of long or short positions across various instruments, another feature absent from Questrade's offerings. Both brokers offer technical analysis resources from Trading Central, ensuring users have access to expert-driven insights. However, Questrade harnesses tools like Autochartist and TipRanks, offering additional analytical depth not available from City Index.
While both brokers provide an economic calendar to track global news events, City Index's comprehensive information has earned it a higher research rating of 4.5 stars compared to Questrade's 3.5 stars. These research assets and accolades translate to City Index leading the pack, being ranked #10 out of 63 brokers by ForexBrokers.com. In contrast, Questrade trails behind at #51, highlighting City Index's stronger research capability for the informed investor.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | 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 compared in terms of educational resources for beginners, City Index stands out more prominently than Questrade. Both platforms offer a substantial collection of educational materials, such as articles, videos, and webinars, aimed at helping beginners dive into the world of forex and CFDs trading. They both provide at least 10 beginner-friendly videos and maintain searchable archives of previous webinars. However, City Index extends its offerings by providing monthly live webinars, which are absent in Questrade’s lineup. Additionally, City Index provides advanced educational videos for more seasoned traders, while Questrade does not.
City Index further enhances the learning experience with an investor dictionary featuring over 50 investing term definitions, a feature Questrade lacks. This comprehensive approach is likely why City Index is rated higher for education, with 4.5 out of 5 stars compared to Questrade’s 3.5 stars. In a broader comparison among 63 brokers, City Index ranks #9, significantly higher than Questrade, which ranks #36. For those prioritizing educational resources, City Index offers a wider array of opportunities for enhancing trading knowledge.
| Feature |
City Index
|
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 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.
| Feature |
City Index
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Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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While neither City Index nor Questrade allows investors to purchase actual delivered cryptocurrency, both platforms provide the option to trade cryptocurrency derivatives.
When comparing online brokers City Index and Questrade, City Index provides options for ACH/SEPA transfers, PayPal, Visa/Mastercard, and bank wires for account deposits and withdrawals, whereas Questrade supports Visa/Mastercard and bank wires but does not offer ACH/SEPA transfers, PayPal, or Skrill.
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 | 86 | |
| Winner | check_circle | ||
| Review | City Index Review | Questrade Review |
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| Regulation | City Index | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| 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 | 2 | |
| 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 | No | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | 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 | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | 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 | 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 | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | City Index | Questrade | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | City Index | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| 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 | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | City Index | 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 | City Index | 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 | City Index Review | Questrade Review |
| Overall | City Index | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | City Index Review | Questrade Review |
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