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, founded in 2000, and Eightcap, established in 2009, are prominent names in the online brokerage industry. Neither company is publicly traded or operates as a bank. When it comes to regulatory trust, Questrade holds two Tier-1 licenses, which are indicative of high trust, while Eightcap surpasses this with three Tier-1 licenses. In ratings provided by ForexBrokers.com, Questrade achieves a Trust Score of 86 out of 99, categorizing it as a trusted broker. Meanwhile, Eightcap scores an 85, placing it almost on equal footing with Questrade in terms of trust.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Year Founded | 2000 | 2009 |
| Publicly Traded (Listed) | ||
| Bank | ||
| 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 | ||
| ACH or SEPA Transfers | ||
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Questrade and Eightcap in terms of the range of investments, Questrade offers a wider selection overall with 641 tradeable symbols, while Eightcap provides access to 800 symbols. Questrade stands out in the realm of forex trading, boasting 110 tradeable forex pairs compared to Eightcap's 56. Both platforms offer forex trading as a CFD or spot contract, and both also support the trading of cryptocurrency derivatives, though neither allows the purchase of actual cryptocurrencies. However, Questrade has an advantage in offering exchange-traded securities on both U.S. and international exchanges, enabling users to purchase stocks like Apple and Vodafone directly. In contrast, Eightcap does not facilitate direct purchases of these exchange-traded assets.
Additionally, while Eightcap shines with its copy trading feature—allowing traders to replicate the trades of seasoned investors—Questrade does not offer this service. Despite this, Questrade receives a higher rating of 5 stars for its range of investments, and ranks #11 out of 63 brokers in this category, according to ForexBrokers.com. Meanwhile, Eightcap holds a 3.5-star rating and ranks #40. This indicates that while both brokers provide varied investment opportunities, Questrade might be more suitable for those seeking a comprehensive range of investment options, particularly for direct stock trading on major global exchanges.
| 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 | |
| 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 comparing Questrade and Eightcap in terms of trading platforms and tools, both brokers offer a solid range of features suitable for both beginners and more experienced traders. Questrade provides its users with a proprietary platform, allowing them to engage in trading with a unique system developed in-house. Eightcap does not have a proprietary platform but compensates by offering access to widely-used platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both brokers support trading via a Windows-based desktop application and a browser-based platform, enhancing their versatility. They each offer free virtual demo accounts, which is an essential feature for novices aiming to practice and build confidence. In addition, Eightcap stands out by offering copy trading, allowing users to mirror the trades of successful investors, a feature not available with Questrade.
In terms of charting and customization, Questrade offers more drawing tools, with 20 available options compared to Eightcap's 15. However, both platforms support direct trading from stock charts for a more seamless trading experience. Questrade also provides deeper customization for watch lists, offering 52 fields compared to Eightcap's seven. Despite these differences, both platforms share the same rating of four out of five stars for their trading platforms and tools. However, ForexBrokers.com ranks Questrade higher at 34th place, while Eightcap sits at 38th, among 63 brokers. Overall, both brokers have distinct offerings that cater to different trading needs, making them competitive choices in the online trading world.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | |
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | Yes | |
| DupliTrade | Yes | |
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
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 comparing the market research offerings of Questrade and Eightcap, both online brokers present distinct features. Questrade provides technical analysis and fundamental research tools through Autochartist and Trading Central, alongside market insights from TipRanks. An economic calendar is also available for tracking global news events. However, it lacks daily market commentary, top-tier forex news, and sentiment-based trading tools. Despite these offerings, Questrade has a research rating of 3.5 stars and is ranked 51st out of 63 brokers for research by ForexBrokers.com.
Eightcap, on the other hand, excels in delivering daily market commentary and offers a sentiment-based trading tool to provide insights into market positions across currency pairs. Like Questrade, Eightcap features an economic calendar to keep users informed about crucial global events. However, it falls short in providing research tools from Autochartist, Trading Central, and TipRanks. With a research rating of 3.5 stars, Eightcap holds a superior rank of 39th among 63 brokers in the research category according to ForexBrokers.com.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | ||
| Autochartist | Yes | |
| Trading Central (Recognia) | 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 for beginners offered by Questrade and Eightcap, both brokers provide solid options for those new to forex and CFD trading. Questrade and Eightcap each offer at least 10 educational pieces, such as articles, videos, and archived webinars, focusing on forex or CFDs. They both host online webinars and maintain a searchable archive of past sessions for those who prefer learning at their own pace. For visual learners, both platforms present over 10 videos specifically designed for beginner traders, though neither offers a similar bounty of advanced educational videos. Additionally, while Eightcap provides an investor dictionary with over 50 terms to help new traders get comfortable with trading jargon, it's unclear if Questrade offers a similar resource.
Overall, both Questrade and Eightcap receive a 3.5-star rating for their educational offerings. However, they differ slightly in their rankings on ForexBrokers.com, with Questrade ranked 36th and Eightcap ranked 40th out of 63 brokers in the education category. This indicates that both platforms offer comparable educational support for beginners, though individual learning preferences may sway a trader toward one broker over the other based on specific needs like accessing an investor dictionary or preferring a particular style of educational content.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | ||
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | ||
| 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 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 |
|
|
| Trust Score | 86 | 85 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Questrade does not offer the ability to buy actual (delivered) cryptocurrency, while Eightcap also does not provide this option; however, both platforms do offer the ability to trade cryptocurrency derivatives (not the actual cryptocurrency).
When comparing online brokers Questrade and Eightcap, it's important to consider their options for depositing and withdrawing account funds: Questrade does not support ACH, SEPA, PayPal, or Skrill transfers but does offer Visa, Mastercard, and bank wires, whereas Eightcap offers PayPal, Skrill, Visa, Mastercard, and bank wires but not 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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Questrade | Eightcap | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 85 | |
| Winner | check_circle | ||
| Review | Questrade Review | Eightcap Review |
| Broker Screenshots | Questrade | Eightcap | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | Questrade | Eightcap | |
|---|---|---|---|
| Trust Score | 86 | 85 | |
| Year Founded | 2000 | 2009 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | 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) | Yes | ||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | |||
| 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) | Questrade | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | |||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| 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 | ||
| 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 | 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 | |||
| Inactivity Fee | |||
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes |
| Funding | Questrade | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $250 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers |
| Trading Platforms | Questrade | Eightcap | |
|---|---|---|---|
| Proprietary Platform | Yes | ||
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | Yes | ||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| 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 | Yes | ||
| Forex News (Top-Tier Sources) | |||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | ||
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | ||
| Economic Calendar | Yes | Yes |
| Education | Questrade | Eightcap | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | |||
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | |||
| Investor Dictionary (Glossary) | 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 85 | |
| Winner | check_circle | ||
| Review | Questrade Review | Eightcap Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill