Written by ForexBrokers.com
In this head to head comparison of CMC 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.
CMC Markets vs. Questrade: For safety and regulation, ForexBrokers.com uses a 99-point Trust Score where 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted. CMC Markets earns 99/99 (highly trusted), while Questrade scores 85/99 (trusted).
CMC Markets, founded in 1989, is publicly traded and not a bank. It holds 6 Tier-1 licenses (highly trusted) and 1 Tier-2 license (trusted). Questrade, founded in 2000, is privately held and not a bank, with 1 Tier-1 license and no Tier-2 licenses. In short, CMC Markets has broader top-tier oversight, while Questrade maintains a solid trust standing.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Year Founded | 1989 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
CMC Markets comes out ahead of Questrade on commissions and fees, especially for forex traders who want low everyday costs. In ForexBrokers.com’s Commissions and Fees category, CMC Markets is rated 5 stars and ranked #4 out of 36 brokers. It stands out for its low spread pricing, with typical EUR/USD spreads around 0.61 pips based on August 2023 data, and its FX Active plan can lower all-in EUR/USD trading costs to about 0.5 pips after commission.
Questrade takes a different approach by building trading costs into the spread rather than charging a separate commission on forex trades. That can be simple to understand, but it may also be more expensive in practice. Questrade is rated 3.5 stars and ranked #34 out of 36 brokers for commissions and fees. While it says spreads can start at 0.8 pips, reported average spreads were closer to 2.1 to 2.5 pips for major pairs, which can raise the cost of trading.
For CFDs, Questrade’s pricing can also add up quickly because of the spread plus a $9.95 USD trading fee per unit, along with overnight financing charges. By contrast, CMC Markets offers discounted pricing through its Price Plus Scheme and commission-based FX Active model, making it the better pick overall for traders focused on lower commissions and fees.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.3 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 0.65 | 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 it comes to range of investments, CMC Markets offers a wider selection than Questrade. CMC Markets gives traders access to 12,029 tradeable symbols and 141 forex pairs, compared with Questrade’s 675 symbols and 110 forex pairs. CMC Markets also lets clients buy exchange traded securities on both U.S. and international exchanges, while Questrade does not offer those stocks. In addition, CMC Markets supports copy trading and cryptocurrency CFDs, giving active traders more ways to diversify their accounts.
Questrade still provides forex trading and earns a 5-star rating for range of investments, just like CMC Markets. However, CMC Markets is ranked higher by ForexBrokers.com in this category, placing 9th out of 36 brokers versus Questrade at 12th. Neither broker offers actual, delivered cryptocurrency, but CMC Markets stands out overall for the broader mix of markets and instruments available.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 675 |
| Forex Pairs (Total) | 141 | 110 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | 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.
CMC Markets and Questrade both give traders a solid set of platform choices, including free demo accounts, in-house platforms, Windows desktop downloads, and web-based trading. Both also let you trade directly from a chart, which is helpful if you want a quicker order entry process. In ForexBrokers.com’s Trading Platforms and Tools review, CMC Markets stands out with a 5-star rating and a #6 ranking out of 36 brokers, while Questrade is rated 4 stars and ranked #29.
Where CMC Markets pulls ahead is in the extra tools it offers, especially copy trading and support for MetaTrader 4 and MetaTrader 5. Questrade does not offer those features, so traders looking for more platform variety may prefer CMC Markets. If you want a broker with strong trading tools and more ways to trade, CMC Markets has the edge, while Questrade still covers the basics well for everyday platform use.
| Feature |
CMC Markets
|
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) | Yes | No |
| Charting - Indicators / Studies (Total) | 73 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
CMC Markets and Questrade both offer mobile trading apps for iPhone and Android, along with stock or forex price alerts and watchlist syncing, so changes you make on the app can carry over to your online account. Both apps also let you draw trendlines on charts and automatically save those drawings, which makes it easier to keep track of your analysis while trading on the go.
The biggest difference is in charting and overall mobile app ratings. Questrade offers more technical studies in its mobile app, with 64 compared with CMC Markets’ 29, but CMC Markets scores higher for mobile trading apps overall, earning 5 stars versus Questrade’s 3.5 stars. In ForexBrokers.com’s ranking of 36 brokers, CMC Markets places #5 for mobile trading apps, while Questrade ranks #29.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
For market research, CMC Markets gives traders more built-in tools and news than Questrade. CMC Markets offers daily market commentary, forex news from top sources like Bloomberg and Reuters, a sentiment tool showing long and short positions, and an economic calendar for global events. It also includes Autochartist for technical and fundamental signals. Questrade, on the other hand, does not offer daily market commentary, top-tier forex news, a sentiment tool, or an economic calendar, but it does provide Autochartist, Trading Central tools, and TipRanks research.
These differences show up in ratings and rankings too. CMC Markets earns 5 out of 5 stars for research and ranks #6 out of 36 brokers at ForexBrokers.com, while Questrade is rated 3.5 out of 5 stars and ranks #35. If market research tools and timely news are important to you, CMC Markets has the stronger research offering overall, while Questrade stands out for Trading Central and TipRanks access.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | No | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
When it comes to beginner-friendly learning tools, CMC Markets clearly has the edge over Questrade. CMC Markets offers enough forex and CFDs education to meet the minimum standard, plus at least 10 beginner videos and 10 advanced videos for traders who want to keep learning as they gain experience. Questrade, by comparison, does not meet the same level of forex or CFDs education and does not offer at least 10 beginner or 10 advanced trading videos. Neither broker offers online educational client webinars at least once a month.
These differences show up in the ratings as well. CMC Markets earns 5 stars for Education and ranks #10 out of 36 brokers in the Education category at ForexBrokers.com, while Questrade is rated 3.5 stars and ranks #28. For beginners looking for more trading lessons, videos, and a wider range of education on forex and CFDs, CMC Markets is the stronger choice.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Webinars | No | 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 CMC Markets is better than Questrade. CMC Markets finished with an overall rank of #5, while Questrade finished with an overall rank of #29.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 85 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
CMC Markets vs Questrade: neither broker supports buying actual (delivered) cryptocurrency, but only CMC Markets offers cryptocurrency CFD trading while Questrade does not.
Online broker CMC Markets supports ACH/SEPA and PayPal for deposits and withdrawals (Questrade supports neither), both CMC Markets and Questrade allow bank wire transfers, neither supports Skrill, and Visa/Mastercard availability was not specified.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | CMC Markets | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | Questrade Review |
| Broker Screenshots | CMC Markets | Questrade | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | CMC Markets | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1989 | 2000 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 6 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | 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) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | CMC Markets | 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 | CMC Markets | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12029 | 675 | |
| Forex Pairs (Total) | 141 | 110 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | 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 | CMC Markets | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.3 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 0.65 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | CMC Markets | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | CMC Markets | 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) | Yes | No | |
| cTrader | No | No |
| Trading Tools | CMC Markets | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 73 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | 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 | 29 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | CMC Markets | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | CMC Markets | Questrade | |
|---|---|---|---|
| Webinars | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | CMC Markets | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | CMC Markets Review | Questrade Review |
| Overall | CMC Markets | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | Questrade Review |
IG
FOREX.com
CMC Markets
XTB
eToro
Capital.com
AvaTrade
Pepperstone
FP Markets
Tickmill