Written by ForexBrokers.com
In this head to head comparison of eToro 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.
When comparing eToro and Questrade, several key differences stand out, particularly in their regulatory standings and trust ratings. Founded in 2007, eToro operates as a publicly traded company and possesses three Tier-1 licenses, indicating a high level of trust. With a Trust Score of 96 out of 99 according to ForexBrokers.com, eToro ranks as highly trusted, reassuring potential investors of its secure platform.
On the other hand, Questrade was established earlier, in 2000, but is not publicly traded. It holds two Tier-1 licenses, signaling a strong regulatory compliance. However, it doesn’t hold any Tier-2 licenses, which places it slightly behind eToro in regulatory diversity. Nonetheless, Questrade still maintains an impressive Trust Score of 86, categorizing it as trusted by industry standards, making it a reliable choice for users seeking a secure online trading experience.
| Feature |
eToro
|
Questrade
|
|---|---|---|
| Year Founded | 2007 | 2000 |
| Publicly Traded (Listed) | Yes | |
| Bank | ||
| Tier-1 Licenses | 3 | 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 of online brokers eToro and Questrade, both platforms show distinct characteristics. eToro is a market-maker broker known for its social copy trading functionality, with a typical variable spread of 1 pip on the EUR/USD currency pair, which is slightly higher than the industry average. Meanwhile, Questrade lists a target spread of 1.9 pips for the same currency pair, placing it on the steeper side in comparison to industry norms.
eToro provides additional advantages through its eToro Club, a VIP program with five membership tiers ranging from Silver to Diamond. These tiers cater to traders holding balances between $5,000 and $250,000, offering benefits such as access to Trading Central, reduced withdrawal and deposit fees, and dedicated account managers. These membership perks can significantly enhance the trading experience for higher-tier members.
In terms of ratings, eToro earns a commendable 4.5 stars out of five for its commissions and fees, ranking #22 out of 63 brokers according to ForexBrokers.com. On the other hand, Questrade receives a more modest rating of 3 stars, placing it at #58 in the same category. This evaluation underscores eToro's relative strength in competitive pricing and added value through its VIP program compared to Questrade.
| Feature |
eToro
|
Questrade
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $250 |
| Average Spread EUR/USD - Standard | 1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | |
| ACH or SEPA Transfers | Yes | |
| 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 the investment options between eToro and Questrade, both platforms offer a wide range of choices to suit different types of investors. eToro boasts an impressive 5,461 tradeable symbols, including 55 forex pairs, allowing for substantial diversity in trading. In contrast, Questrade provides 641 tradeable symbols with a remarkable 110 forex pairs, which could attract forex enthusiasts. Both platforms offer access to U.S. exchange traded securities—enabling investments in well-known companies like Apple—while also providing opportunities to invest in international markets, such as Vodafone shares on the London Stock Exchange. Furthermore, both brokers facilitate cryptocurrency trading, with eToro offering direct purchase of cryptocurrencies and their derivatives. Meanwhile, Questrade focuses on forex and cryptocurrency derivatives for those avid about this market.
Beyond these offerings, eToro and Questrade each have unique features catering to different investor priorities. eToro differentiates itself with the introduction of copy trading, whereby users can mirror the trades of experienced investors—an attractive option for beginners looking to learn as they invest. However, Questrade lacks this feature, potentially appealing to more independent traders. Both platforms are highly regarded for their range of investments, each receiving a 5-star rating in this category. According to ForexBrokers.com, eToro holds a slight edge with a ranking of #10, just ahead of Questrade at #11 out of 63 brokers, hinting at a competitive landscape where investors must weigh their individual needs and preferences.
| Feature |
eToro
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 641 |
| Forex Pairs (Total) | 55 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | |
| Cryptocurrency (Physical) | Yes | |
| 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.
eToro and Questrade both offer a proprietary trading platform developed in-house, ensuring a unique user experience tailored to their clients' needs. Traders looking to practice risk-free can access simulated trading through the virtual demo accounts provided by both brokers. While Questrade supports a desktop download platform for Windows users, eToro does not, but both brokers offer convenient web-based platforms for trading directly through a browser. A key highlight for eToro users is the addition of copy trading, a feature not available on Questrade, although Questrade offers DupliTrade to enhance trading strategies. Despite both brokers lacking support for popular third-party platforms like MetaTrader 4 and 5, Questrade further distinguishes itself by integrating direct trading functionality from stock charts.
When it comes to charting tools, eToro leads with an impressive 161 drawing tools, offering greater flexibility compared to Questrade's 20. Watchlist creation is significantly more detailed in Questrade, providing 52 columns to eToro’s 6. These differences reflect in their ratings, with eToro receiving 4.5 stars for its Trading Platforms and Tools, edging out Questrade’s 4-star rating. In a broader industry comparison by ForexBrokers.com, eToro is positioned impressively at #8 among 63 brokers, while Questrade finds itself at #34. Both platforms cater well to traders, but the preferences for specific features might guide prospective users in choosing between the two.
| Feature |
eToro
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | |
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| DupliTrade | Yes | |
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 104 | 64 |
| Charting - Drawing Tools (Total) | 161 | 20 |
| Charting - Trade From Chart | Yes | |
| Watchlists - Total Fields | 6 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of eToro and Questrade, both platforms offer apps compatible with iPhone and Android devices, ensuring accessibility for users on the go. Both apps also provide stock and forex price alerts, along with watchlist symbol syncing, allowing smooth integration between mobile and online accounts. eToro stands out with an impressive 104 technical studies available for charting, whereas Questrade offers 64. While both platforms allow users to view stock or forex charts across different time frames, Questrade offers the additional capability of drawing trendlines and saving these drawings automatically on its charts—features that eToro's app does not support.
Both eToro and Questrade enable users to create watchlists with real-time quotes, catering to active traders who seek quick market updates. In terms of overall satisfaction, eToro's mobile trading app is rated 4.5 out of 5 stars, ranking it 10th out of 63 brokers according to ForexBrokers.com. In comparison, Questrade's mobile app earns a 4-star rating and ranks 34th in the same category. These distinctions highlight eToro's leading performance in the realm of mobile trading, making it a strong choice for users seeking comprehensive trading tools on mobile devices.
| Feature |
eToro
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 104 | 64 |
| Mobile Charting - Draw Trendlines | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing eToro to Questrade for market research, eToro stands out with its daily market commentary, offering consistent updates to its users. In terms of news sources, while eToro also provides a sentiment-based trading tool, Questrade does not offer this feature, possibly limiting traders looking for insights into market sentiment. Both platforms offer tools and research from well-known companies like Trading Central and TipRanks. However, only Questrade provides tools from Autochartist, catering to traders who prefer its technical and fundamental analysis capabilities. Although neither platform provides research tools from Acuity Trading, they both include a comprehensive economic calendar, ensuring traders are aware of global economic events.
According to ForexBrokers.com, eToro is rated higher in research, earning 4.5 out of 5 stars, while Questrade follows with a rating of 3.5 stars. This aligns with their ranking among 63 brokers, where eToro positions at #13, significantly ahead of Questrade, which ranks at #51. These ratings reflect eToro's broader range of research tools and commentary offerings, making it a more appealing option for traders seeking extensive market insights. Questrade, while offering solid features, trails behind in delivering the comprehensive research tools that many traders may desire for informed decision-making.
| Feature |
eToro
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | ||
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | |
| TipRanks | Yes | Yes |
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing eToro and Questrade, both platforms offer valuable educational resources for beginners interested in forex or CFDs. Each provides a wide range of over ten educational pieces, including articles, videos, and archived webinars. However, eToro goes the extra mile by hosting regular online educational webinars each month, a feature that Questrade currently does not offer. Additionally, both platforms maintain a searchable archive of past webinars for convenient access to previously recorded content.
In terms of video education, both eToro and Questrade cater to beginners with a series of at least ten trading-focused videos. Yet, eToro distinguishes itself with advanced content tailored for experienced traders. Another notable feature of eToro is its comprehensive investor dictionary, which includes definitions for over 50 investing terms, providing a handy resource for novice investors. These additional offerings likely contribute to eToro's higher education rating of 4.5 stars compared to Questrade's 3.5 stars and its impressive rank as #5 in the Education category out of 63 brokers, while Questrade is ranked at #36.
| Feature |
eToro
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | |
| 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 eToro is better than Questrade. eToro finished with an overall rank of #9, while Questrade finished with an overall rank of #32.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
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Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 96 | 86 |
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eToro allows users to purchase both actual delivered cryptocurrencies and cryptocurrency derivatives, while Questrade provides access to cryptocurrency derivatives but does not offer the ability to buy actual delivered cryptocurrencies.
eToro offers a variety of deposit and withdrawal options including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, while Questrade supports Visa, Mastercard, and bank wires but lacks ACH, SEPA, PayPal, and Skrill options.
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 | eToro | Questrade | |
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| Trust Score | 96 | 86 | |
| Winner | check_circle | ||
| Review | eToro Review | Questrade Review |
| Broker Screenshots | eToro | Questrade | |
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| Regulation | eToro | Questrade | |
|---|---|---|---|
| Trust Score | 96 | 86 | |
| Year Founded | 2007 | 2000 | |
| Publicly Traded (Listed) | Yes | ||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | eToro | Questrade | |
|---|---|---|---|
| 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) | eToro | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | |||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | eToro | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 641 | |
| Forex Pairs (Total) | 55 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| Cryptocurrency (Physical) | Yes | ||
| 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 | eToro | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | ||
| Inactivity Fee | Yes | ||
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes |
| Funding | eToro | Questrade | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes |
| Trading Platforms | eToro | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | ||
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| MetaTrader 4 (MT4) | |||
| MetaTrader 5 (MT5) | |||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| Trading Tools | eToro | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 52 | |
| Charting - Indicators / Studies (Total) | 104 | 64 | |
| Charting - Drawing Tools (Total) | 161 | 20 | |
| Charting - Trade From Chart | Yes | ||
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | 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 | 104 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | ||
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | ||
| Mobile Economic Calendar | Yes |
| Research | eToro | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | ||
| Forex News (Top-Tier Sources) | |||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | ||
| Economic Calendar | Yes | Yes |
| Education | eToro | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | ||
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | ||
| Investor Dictionary (Glossary) | Yes |
| Major Forex Pairs | eToro | 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 | eToro Review | Questrade Review |
| Overall | eToro | Questrade | |
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| Trust Score | 96 | 86 | |
| Winner | check_circle | ||
| Review | eToro Review | Questrade Review |
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