Written by ForexBrokers.com
In this head to head comparison of Questrade vs Eightcap, 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.
Questrade and Eightcap are both online brokers that offer trading services but differ in regulatory standing and trust ratings. Founded in 2000, Questrade is a privately owned firm that is not listed on any stock exchange and does not operate as a bank. It holds two Tier-1 licenses, making it a trusted choice for traders, and has earned a Trust Score of 86 from ForexBrokers.com, placing it in the "trusted" category.
Meanwhile, Eightcap, established in 2009, also operates as a private entity without the backing of a stock listing or bank affiliation. Eightcap surpasses Questrade in regulatory credentials with three Tier-1 licenses, indicating a high level of trust. However, its Trust Score from ForexBrokers.com is slightly lower at 85, which still categorizes it as a trusted broker. While both brokers are reliable, Eightcap holds an edge in regulatory licensure, whereas Questrade has a marginally higher trust score according to ForexBrokers.com.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Year Founded | 2000 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to commissions and fees, Questrade and Eightcap offer distinctly different experiences. Questrade, rated 3 out of 5 stars, might not be the most cost-effective option for forex traders as it features a target spread of 1.9 pips for EUR/USD, which is steep compared to the industry average. This positioning ranks Questrade at #58 out of 63 brokers in the Commissions and Fees category by ForexBrokers.com.
In contrast, Eightcap provides more competitive pricing with its two account types tailored to different trading preferences. The broker has a higher rating for commissions and fees at 4 out of 5 stars. It offers an average spread of 0.06 pips for its commission-based Raw account. Though traders need to consider a per-side commission of $3.50 per trade, bringing the all-in cost to approximately 0.76 pips. This pricing is just under the industry average of 0.8 pips and gives Eightcap a reputation for affordability in the market, albeit it's still slightly more expensive than the lowest-cost options. Eightcap is ranked #26 by ForexBrokers.com, highlighting its standing as a more affordable choice among the assessed brokers.
Overall, while Questrade might not lead in terms of cost-efficiency, Eightcap stands out with its versatile pricing structures across globally licensed entities, providing options that appeal to both commission-based and spread-focused traders.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $250 | $100 |
| Average Spread EUR/USD - Standard | N/A | 1.0 |
| All-in Cost EUR/USD - Active | N/A | 0.76 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When choosing between Questrade and Eightcap for online trading, the range of available investments is key. Questrade offers a broad spectrum of 641 tradeable symbols, including an impressive 110 forex pairs. Investors can freely trade exchange-listed securities on both U.S. and international exchanges, providing opportunities to purchase well-known stocks like Apple and Vodafone directly. Although Questrade does not support copy trading or offer actual cryptocurrency purchases, it does allow trading in cryptocurrency derivatives. Questrade's comprehensive range of investment options earns it a 5-star rating and an impressive #11 ranking out of 63 brokers in the Range of Investments category according to ForexBrokers.com.
On the other hand, Eightcap boasts 800 tradeable symbols, with a focus on 56 forex pairs. However, Eightcap primarily concentrates on trading through CFDs, as users cannot purchase traditional exchange-listed securities, like Apple, directly. A stand-out feature for Eightcap is its support for copy trading, appealing to users interested in mirroring other successful traders' actions. Similar to Questrade, Eightcap offers options for cryptocurrency derivatives but not for direct cryptocurrency purchases. Eightcap receives a 3.5-star rating and is ranked #40 by ForexBrokers.com, reflecting a narrower range of investment offerings compared to Questrade.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 800 |
| Forex Pairs (Total) | 110 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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.
When comparing Questrade and Eightcap, both brokers offer a range of trading platforms and tools that cater to different trading preferences. Both provide the option for paper trading through free virtual demo accounts, allowing newcomers to practice without financial risk. Questrade stands out with a proprietary platform developed in-house, while Eightcap relies on third-party platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), providing a familiar interface for many traders. Both brokers support trading directly from stock charts via their Windows-based desktop applications and web-based platforms.
Questrade impresses with its DupliTrade service but does not offer copy trading, which is available at Eightcap, appealing to those interested in replicating successful traders' strategies. While Questrade's charting tools feature 20 drawing tools and 52 columns for watch lists, offering extensive market analysis, Eightcap provides 15 drawing tools and 7 watch list columns. Both brokers receive an equal rating of four stars for their trading platforms and tools, though Questrade ranks slightly higher (#34) in ForexBrokers.com's listing compared to Eightcap's position (#38), showing a slight edge in overall platform satisfaction.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 7 |
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If you're looking to trade on your phone, both Questrade and Eightcap offer mobile apps compatible with iPhone and Android devices. Each app allows users to set stock or forex price alerts and sync watchlist symbols across all platforms, ensuring seamless account management. In terms of technical analysis, Questrade edges out Eightcap by offering 64 charting studies compared to Eightcap's 30. Both apps allow users to draw trendlines and view multiple time frames on charts, with the added convenience of auto-saving any drawings made. Additionally, you can create watchlists with real-time quotes on both platforms.
When it comes to user feedback, both Questrade and Eightcap receive a solid four-star rating for their mobile trading apps. However, according to ForexBrokers.com, Questrade holds a slightly higher rank of #34 out of 63 brokers, compared to Eightcap's #38 ranking. While both apps offer similar core features, Questrade provides a few more tools for in-depth chart analysis, which might be a deciding factor for those who rely heavily on technical studies for their trading strategies.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| 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 it comes to market research, Questrade and Eightcap each have their own strengths and weaknesses that cater to different types of traders. Eightcap provides daily market commentary, which can be particularly beneficial for those who want regular insights into market trends. On the other hand, Questrade focuses on offering advanced tools from renowned firms such as Autochartist and Trading Central, providing users with technical and fundamental analysis resources. Furthermore, Questrade offers market research from TipRanks, adding another layer of insight for its users. However, neither of the platforms offers forex news from top-tier sources like Bloomberg or Reuters, nor do they provide research tools from Acuity Trading.
Both Questrade and Eightcap offer economic calendars displaying current and upcoming global news events, which are essential for staying informed of developments across markets. While Eightcap's sentiment-based trading tool can be a valuable resource for understanding market positions, Questrade falls short in this area. Despite these differences, both platforms have received a research rating of 3.5 stars. However, in the rankings by ForexBrokers.com, Eightcap edges out Questrade by being ranked #39 compared to Questrade's #51 out of 63 brokers. These distinctions highlight how the choice between Questrade and Eightcap might depend largely on a trader's specific research tool preferences and trading style.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | No | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners available from Questrade and Eightcap, both online brokers provide a range of materials to help new traders get started with forex and CFDs trading. Questrade and Eightcap each offer a minimum of 10 educational pieces, including articles and videos, focused on forex or CFDs. Additionally, both brokers grant access to a searchable archive of past client webinars, enabling learners to explore previously recorded content at their convenience. Regarding beginner-specific resources, Questrade and Eightcap both provide at least 10 educational videos designed to aid newcomers in understanding the basics of trading.
However, both brokers fall short on more advanced educational content, as neither offers a significant range of videos for experienced traders. Additionally, live educational webinars held regularly each month are absent from both platforms. Eightcap does have an edge with an investor dictionary of over 50 investing terms, an extra resource that Questrade lacks. Despite these limitations, both Questrade and Eightcap receive a solid 3.5-star rating for education, with Questrade ranked 36th and Eightcap 40th out of 63 brokers by ForexBrokers.com for their educational offerings.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Questrade is better than Eightcap. Questrade finished with an overall rank of #32, while Eightcap finished with an overall rank of #38.
Regulated in both the U.S. and Canada, Questrade is a trusted full-service multi-asset broker now offering forex and CFDs alongside its stock trading services for active and passive investors. While its scope of educational resources and in-house research is limited, Questrade has an impressive platform lineup.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 85 |
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Both Questrade and Eightcap do not offer the ability to buy actual delivered cryptocurrency, but they do provide the option to buy cryptocurrency derivatives.
When comparing Questrade and Eightcap as online brokers, both offer Visa, Mastercard, and bank wire options for depositing or withdrawing funds, but Eightcap stands out by also supporting PayPal and Skrill while neither broker provides ACH or SEPA transfers.
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 | Questrade | Eightcap | |
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| Trust Score | 86 | 85 | |
| Winner | check_circle | ||
| Review | Questrade Review | Eightcap Review |
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| Regulation | Questrade | Eightcap | |
|---|---|---|---|
| Trust Score | 86 | 85 | |
| Year Founded | 2000 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Questrade | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Questrade | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Questrade | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 800 | |
| Forex Pairs (Total) | 110 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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 | Questrade | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.0 | |
| All-in Cost EUR/USD - Active | N/A | 0.76 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $250 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Questrade | Eightcap | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | Eightcap | |
|---|---|---|---|
| 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 | 64 | 30 | |
| 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 | Questrade | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | No | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | Eightcap | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Questrade | Eightcap | |
|---|---|---|---|
| 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 | Questrade Review | Eightcap Review |
| Overall | Questrade | Eightcap | |
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| Trust Score | 86 | 85 | |
| Winner | check_circle | ||
| Review | Questrade Review | Eightcap Review |
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