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.
eToro and Questrade both offer online brokerage services, but they differ in key areas. Founded in 2007, eToro is publicly traded, which adds a layer of transparency to its operations. It boasts three Tier-1 licenses and holds a Tier-2 license as well, earning it a high trust score of 96 from ForexBrokers.com. While eToro is not a bank, its regulatory framework and high trust score make it a reliable option for investors seeking assurance.
Questrade, established in 2000, is not listed on any stock exchanges, which may affect perceptions of its transparency compared to eToro. However, it remains a trustworthy option with two Tier-1 licenses and a trust score of 86. Although it lacks Tier-2 licensing, Questrade still maintains a reputation for being a reliable online broker for those who place importance on regulatory backing. Both firms operate outside the banking sector, focusing solely on providing comprehensive brokerage services.
| Feature |
eToro
|
Questrade
|
|---|---|---|
| Year Founded | 2007 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| 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 | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing eToro and Questrade for their range of investment options, both platforms offer unique advantages. eToro shines with an extensive array of 5,461 tradeable symbols, which include 55 forex pairs. This impressive range is complemented by eToro's capability to provide both CFD and spot contract forex trading. The platform also supports trading real cryptocurrencies along with cryptocurrency derivatives, offering a versatile experience for digital asset enthusiasts. Furthermore, eToro stands out with its social trading feature, allowing users to mimic successful traders' strategies, a perk not offered by Questrade.
Questrade, on the other hand, offers a more modest selection of 641 tradeable symbols but compensates with a substantial 110 forex pairs, also covering both CFD and spot contract trading. While it may not support actual cryptocurrency purchases directly, it does offer cryptocurrency derivatives. Both eToro and Questrade provide access to exchange-traded securities on U.S. and international markets, making it easy for investors to diversify their portfolios with global stocks. Despite having fewer total symbols, Questrade's robust forex offerings and access to a wide range of markets make it a competitive choice, earning both platforms an impressive five-star rating for their investment range. In the rankings by ForexBrokers.com, eToro sits slightly higher at #10 compared to Questrade at #11, reflecting its comprehensive investment capabilities.
| 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 | No |
| Cryptocurrency (Physical) | Yes | 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 eToro and Questrade's trading platforms and tools, both brokers offer proprietary, web-based platforms with the capability for simulated trading through free virtual demo accounts. However, their offerings diverge as eToro stands out with features like copy trading, which isn’t available with Questrade. While both brokers lack support for the popular MetaTrader platforms, Questrade sets itself apart by offering a downloadable Windows-based desktop platform and integration with DupliTrade, providing more options for third-party tools compared to eToro.
In terms of charting capabilities, eToro excels with 161 drawing tools, significantly more than Questrade’s 20, yet it lacks the option to trade directly from a stock chart, a feature available with Questrade. The brokers also differ in their handling of watch lists, with eToro offering six columns for customization, while Questrade provides a more extensive 52. Despite these differences, eToro's platforms and tools score slightly higher with a 4.5-star rating and rank 8th among 63 brokers by ForexBrokers.com, whereas Questrade receives a 4-star rating and is ranked 34th.
| Feature |
eToro
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 64 |
| Charting - Drawing Tools (Total) | 161 | 20 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing mobile trading apps, both eToro and Questrade are available on iPhone and Android, offering stock and forex price alerts. Both platforms also support watchlist symbol syncing, allowing seamless updates between mobile and online accounts. eToro stands out with 104 technical studies for charting, compared to Questrade's 64. However, Questrade provides the ability to draw trendlines and automatically saves chart drawings, features not available on eToro. Both apps permit users to view different time frames and create watchlists with real-time quotes.
eToro is rated 4.5 stars for its mobile app, ranking #10 out of 63 brokers, while Questrade holds a 4-star rating and ranks #34. This suggests that eToro might be more suited for traders seeking extensive charting capabilities and high user ratings, while Questrade offers useful drawing tools for those who prioritize technical analysis directly on their mobile devices. Ultimately, your choice might depend on the specific features you value the most in a trading app.
| 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 | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, eToro stands out by offering daily market commentary, a feature not available with Questrade. While neither platform provides forex news from top-tier sources like Bloomberg or Reuters, both eToro and Questrade offer technical analysis tools from Trading Central. However, Questrade enhances its offering with additional tools from Autochartist, which eToro does not have. eToro features a sentiment-based trading tool that showcases the ratio of long and short positions across different currency pairs, giving traders an edge in understanding market trends, a feature absent in Questrade.
For those who rely on resources from TipRanks for market research, both platforms are on par, offering access to this valuable data. Additionally, eToro and Questrade both provide economic calendars that keep traders informed about global news events. Overall, eToro is rated higher in research with 4.5 stars compared to Questrade’s 3.5 stars. Reflecting their research capabilities, eToro ranks 13th out of 63 brokers on ForexBrokers.com, significantly ahead of Questrade, which is placed 51st.
| Feature |
eToro
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | No | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing eToro and Questrade in terms of educational support for beginners, eToro emerges as a more comprehensive resource. Both platforms offer a minimum of 10 educational components on forex or CFDs, covering crucial topics through articles, videos, and archived webinars. However, eToro stands out by providing monthly online webinars, ensuring ongoing learning opportunities. Questrade, on the other hand, does not offer these live webinars. Additionally, both platforms maintain archives of past webinars for convenient reference.
For those starting out, both brokers present at least 10 beginner-focused trading videos. eToro further extends its educational offerings with 10 advanced videos for experienced traders, unlike Questrade, which lacks in this area. Moreover, eToro supplies an investor dictionary with definitions for over 50 investing terms, a feature absent in Questrade. Ranked as the 5th out of 63 by ForexBrokers.com for education, eToro boasts a higher satisfaction rate at 4.5 stars, compared to Questrade's 3.5 stars and 36th ranking, making eToro the preferred choice for educational resources.
| Feature |
eToro
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
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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While eToro allows investors to purchase both actual cryptocurrencies and cryptocurrency derivatives, Questrade provides only the option to buy cryptocurrency derivatives, not the actual digital currencies themselves.
While eToro provides a wide range of deposit and withdrawal options including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, Questrade offers fewer options, supporting only Visa, Mastercard, and bank wires without ACH, SEPA, PayPal, or Skrill capabilities.
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 | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| 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 | No | |
| Canada (CIRO Authorised) | No | Yes | |
| 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) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | eToro | Questrade | |
|---|---|---|---|
| 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 | 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 | No | |
| Cryptocurrency (Physical) | Yes | 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 | 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 | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | eToro | Questrade | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | eToro | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| 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 | No | 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 | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | eToro | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| 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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