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) - Spread-only account | 1.3 | 0.8 or higher |
| All-in Cost EUR/USD - Raw spread account | 1.15 | N/A |
| Non-wire bank transfer (Deposit/Withdraw) | 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 available investments, CMC Markets offers a much wider selection than Questrade. CMC Markets lists 21,710 tradeable symbols and 303 forex pairs, while Questrade offers 675 symbols and 110 forex pairs. Both brokers support forex trading, but CMC Markets gives traders access to a far broader mix of markets, making it a stronger choice for anyone who wants more variety in one account.
CMC Markets also stands out because it offers exchange traded securities on both U.S. and international exchanges, so clients can buy real shares such as Apple or Vodafone. It also offers cryptocurrency CFDs, while Questrade does not offer those products. Neither broker supports copy trading or buying actual cryptocurrency. Even so, both earned 5 stars for Range of Investments, with CMC Markets ranked #9 out of 36 brokers and Questrade ranked #12.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 21710 | 675 |
| Forex Pairs (Total) | 303 | 110 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | 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 options, including a free demo account for simulated trading, a proprietary platform, a Windows desktop app, and a web-based platform. Both also let you place trades directly from a stock chart, which can make it easier to act on market moves without switching screens. Neither broker offers copy trading, so if you want to follow other traders automatically, you will need to look elsewhere.
Where CMC Markets stands out is its support for both MetaTrader 4 and MetaTrader 5, while Questrade does not offer either platform. That extra choice may matter for traders who want more familiar tools or prefer MetaTrader for charting and automation. This edge is reflected in third-party ratings too: CMC Markets earns 5 out of 5 stars for Trading Platforms and Tools and ranks #6 out of 36 brokers, while Questrade is rated 4 out of 5 stars and ranks #29 out of 36.
| 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 | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 65 | 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 and forex price alerts and watchlist syncing between the app and the online account. Each app also lets users draw trendlines on charts, and both will auto-save those drawings. For everyday mobile trading needs, both platforms cover the basics well and make it easy to stay on top of markets while on the move.
The main difference is in charting and overall app quality. CMC Markets offers 30 technical studies in its mobile app, while Questrade provides 64, giving Questrade the edge for traders who want more chart tools on mobile. Even so, CMC Markets is rated higher overall for mobile trading apps, with 5 stars and a ForexBrokers.com ranking of #5 out of 36 brokers, compared with Questrade’s 3.5 stars and #29 ranking. If you want a simpler app with a top-rated mobile experience, CMC Markets stands out; if you want more technical studies, Questrade may be the better fit.
| 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 | 30 | 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.
For beginners looking for trading education, CMC Markets is the stronger choice overall. It offers forex and CFD learning materials, monthly educational webinars, and at least 10 beginner videos plus 10 advanced videos, giving new traders and more experienced users plenty of ways to learn. That broader mix is reflected in its 5-star Education rating and its #10 ranking out of 36 brokers for Education by ForexBrokers.com.
Questrade also provides educational content, but it falls behind CMC Markets for beginner-focused resources. Based on the details provided, it does not offer monthly educational webinars, and it does not meet the 10-video threshold for either beginner or advanced trading topics. With a 3.5-star Education rating and a #28 ranking out of 36 brokers, Questrade may still be useful for general learning, but CMC Markets offers a more complete online education experience for beginners.
| Feature |
CMC Markets
|
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 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
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Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 85 |
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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.
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0 of 5| Overall Rating | CMC Markets | Questrade | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | Questrade Review |
| Broker Screenshots | CMC Markets | Questrade | |
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| 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) | 21710 | 675 | |
| Forex Pairs (Total) | 303 | 110 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | 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) - Spread-only account | 1.3 | 0.8 or higher | |
| All-in Cost EUR/USD - Raw spread account | 1.15 | 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 (Deposit/Withdraw) | Yes | No |
| Trading Platforms | CMC Markets | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | 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) | 65 | 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 | 30 | 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 | Yes | 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 | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | Questrade Review |
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