Written by ForexBrokers.com
In this head to head comparison of Fineco 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.
Fineco and Questrade are two prominent online brokers, each serving the financial needs of clients since the late 1990s and early 2000s. Founded in 1999, Fineco is a publicly traded bank, offering customers a sense of stability and secure regulatory backing with its two Tier-1 licenses. It boasts a high ForexBrokers.com Trust Score of 94, placing it in the highly trusted category. In contrast, Questrade, established in 2000, is not publicly traded and operates without the backing of a bank. However, it matches Fineco in regulatory strength with two Tier-1 licenses, despite having no Tier-2 licenses, earning it a trusted Trust Score of 86.
While both brokers are valued for their reliability, Fineco's standing as a bank and its publicly traded status may naturally appeal to investors prioritizing institutional reliability and transparency. On the other hand, Questrade, known for its competitive services, remains a trusted choice for those seeking diverse investment opportunities in a non-bank structure. Both brokers reinforce their positions in the financial market with identical Tier-1 credentials, giving users confident assurance of their regulatory strength.
| Feature |
Fineco
|
Questrade
|
|---|---|---|
| Year Founded | 1999 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When comparing the commissions and fees of Fineco and Questrade for online trading, Fineco emerges with a slight edge. Fineco does not provide average spread data for forex and CFD trading, making it hard to fully gauge its trading costs. It does, however, list a EUR/USD spread of 1 pip, which is relatively higher compared to other forex brokers. Fineco also mentions a spread of 0.8 pips without indicating if this is an average, or specifying a time frame. Interestingly, Fineco seems to offer more competitive spreads on its index CFDs.
On the other hand, Questrade's target spread on the EUR/USD stands at 1.9 pips, which is considered steep compared to the industry average. This makes Questrade's offering less attractive for traders mindful of spreads. Despite this, both platforms offer unique features that cater to different trading needs.
In terms of ratings and rankings, Fineco is rated 3.5 stars for commissions and fees, taking the 51st spot out of 63 brokers evaluated by ForexBrokers.com. Questrade follows closely with a 3-star rating, positioned at 58th in the same category. Both brokers present distinct advantages and areas for improvement, making them suitable for varying trading strategies and preferences.
| Feature |
Fineco
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the range of investments, both Fineco and Questrade provide various options to cater to different investor needs. Fineco offers 9,770 tradeable symbols, allowing investors to explore a wide array of markets. However, Questrade offers a smaller selection with 641 tradeable symbols. On the forex trading front, Fineco provides access to 54 forex pairs as contracts for difference (CFDs) or spot contracts, whereas Questrade stands out with 110 available forex pairs through similar offerings. Both platforms give clients the ability to invest in exchange-traded securities on U.S. and international exchanges, enabling them to purchase shares like Apple and Vodafone.
In the cryptocurrency arena, neither Fineco nor Questrade offers direct cryptocurrency purchases, but Questrade does allow investment in cryptocurrency derivatives. Additionally, both platforms do not support copy trading as an investment strategy. While both brokers are well-regarded, Questrade holds a 5-star rating for its range of investments, compared to Fineco's 4.5 stars. Furthermore, Questrade ranks slightly higher at #11 in ForexBrokers.com's Range of Investments category, with Fineco following at #16. These differences highlight Questrade's edge in offering a diverse range of investment opportunities, particularly in forex and derivatives.
| Feature |
Fineco
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 641 |
| Forex Pairs (Total) | 54 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | No | 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 Fineco and Questrade for their trading platforms and tools, both brokers offer in-house developed platforms, providing Windows-based desktop downloads and web-based trading capabilities. However, there are notable differences in their offerings, particularly concerning simulation and third-party tool integration. Questrade stands out by offering a free virtual demo account for investors to practice trades without financial risk, while Fineco does not provide this feature. Additionally, Questrade supports DupliTrade, a feature not offered by Fineco, helping users with portfolio automation through third-party synergies. Unfortunately, neither brokerage offers MetaTrader 4 or 5, popular platforms among seasoned traders. Furthermore, Questrade allows direct trades from stock charts and boasts a more extensive list of drawing tools and watch list fields, highlighting its user-friendly chart management.
In terms of rankings and ratings, both brokers achieve a solid four-star rating for their trading platforms and tools. Fineco slightly edges out with a higher ranking, standing at 18 out of 63 brokers according to ForexBrokers.com, while Questrade ranks at 34. This indicates a more favorable perception of Fineco's offerings among industry reviewers. Nonetheless, Questrade offers a broader array of charting and trading features, which may appeal to those seeking richer customization options. Ultimately, the choice between Fineco and Questrade will largely depend on user-specific needs, such as the necessity for a demo account or preference for chart-based trading features.
| Feature |
Fineco
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | 64 |
| Charting - Drawing Tools (Total) | 7 | 20 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between Fineco and Questrade for mobile trading, both platforms provide apps for iPhone and Android, ensuring accessibility across devices. They also offer stock or Forex price alerts to keep you updated with market changes. However, differences in app functionality become apparent as Questrade allows watchlist symbol syncing, so any updates seamlessly reflect across the mobile app and online account. Fineco lacks this synchronization feature. Additionally, Questrade excels with 64 technical studies for charting on its mobile app, significantly outperforming Fineco's six.
Questrade also supports drawing trendlines on charts and automatically saves these drawings, adding convenience for mobile traders. Fineco does not offer these features. Both platforms provide the ability to view multiple time frames on charts, yet only Questrade allows creating watchlists with real-time quotes directly in the app. Despite these distinctions, both platforms receive a four-star rating for their mobile trading apps. Nevertheless, Questrade slightly leads in rankings by ForexBrokers.com, positioned at #34 out of 63 brokers, while Fineco sits at #42.
| Feature |
Fineco
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 6 | 64 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Fineco and Questrade for market research features, both platforms present unique strengths. Fineco excels with its inclusion of forex news from top-tier sources such as Bloomberg and Reuters, ensuring users stay informed with reliable information. Additionally, Fineco provides an economic calendar that highlights significant global news events, aiding users in understanding potential market impacts. However, Fineco lacks certain advanced tools, such as those offered by Autochartist and Trading Central, which are not available on their platform. Despite this, Fineco maintains a strong research reputation, ranking #33 out of 63 brokers with a commendable 4.0-star rating for research capabilities.
On the other hand, Questrade offers a comprehensive suite of technical analysis and fundamental research tools, including those from Autochartist and Trading Central, which can be vital for traders seeking in-depth market analysis. While Questrade does not provide daily market commentary or forex news from high-profile sources like Bloomberg, it compensates with its access to market research from TipRanks. Such resources can empower traders with insights into market trends and forecasts. Furthermore, Questrade also features an economic calendar, similar to Fineco’s, keeping traders attuned to upcoming global events. Although Questrade is ranked lower, at #51 by ForexBrokers.com, it remains a strong contender with a 3.5-star rating for research.
| Feature |
Fineco
|
Questrade
|
|---|---|---|
| Daily Market Commentary | No | No |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners keen on exploring educational resources, Fineco and Questrade offer varied options catering to different learning needs. Fineco provides regular online educational webinars, hosting at least one each month, ensuring an ongoing opportunity for beginners to learn directly from experts. They also present a series of educational videos tailored for beginners, making it easier to grasp basic trading concepts. In addition to this, Fineco offers an investor dictionary, helping beginners get familiar with over 50 investing terms. However, Fineco lacks in offering extensive resources specifically on forex or CFDs.
Questrade, meanwhile, shines with an extensive collection of educational materials focused on forex and CFDs, providing over 10 different pieces to deepen your knowledge in these areas. They also feature beginner-friendly videos similar in number to Fineco's offerings. In contrast to Fineco, Questrade archives their client webinars for later viewing, though they don't conduct monthly live webinars, and they don't provide an investor dictionary. While Fineco claims a higher educational rating overall, Questrade is ranked higher in the Education category by ForexBrokers.com.
| Feature |
Fineco
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | 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 Fineco is better than Questrade. Fineco finished with an overall rank of #25, while Questrade finished with an overall rank of #32.
FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.
| Feature |
Fineco
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Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 86 |
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While both Fineco and Questrade do not provide the option to purchase actual delivered cryptocurrency, Questrade distinguishes itself by offering the ability to buy cryptocurrency derivatives, unlike Fineco which does not offer this feature.
Fineco stands out with its ACH and SEPA transfer options for deposits and withdrawals, unlike Questrade, which permits funding via Visa or Mastercard but not through ACH or SEPA, while both brokers support bank wire transactions; neither offers PayPal or Skrill as funding methods.
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 | Fineco | Questrade | |
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| Trust Score | 94 | 86 | |
| Winner | check_circle | ||
| Review | Fineco Review | Questrade Review |
| Broker Screenshots | Fineco | Questrade | |
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| Regulation | Fineco | Questrade | |
|---|---|---|---|
| Trust Score | 94 | 86 | |
| Year Founded | 1999 | 2000 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Fineco | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| 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 | ||
| 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) | Fineco | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | 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 |
| Investments | Fineco | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 641 | |
| Forex Pairs (Total) | 54 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | No | 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 | Fineco | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | No | No |
| Funding | Fineco | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Fineco | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | Fineco | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | N/A | 52 | |
| Charting - Indicators / Studies (Total) | 37 | 64 | |
| Charting - Drawing Tools (Total) | 7 | 20 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Fineco | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 6 | 64 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Fineco | Questrade | |
|---|---|---|---|
| Daily Market Commentary | No | No | |
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Fineco | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Fineco | 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 | Fineco Review | Questrade Review |
| Overall | Fineco | Questrade | |
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| Trust Score | 94 | 86 | |
| Winner | check_circle | ||
| Review | Fineco Review | Questrade Review |
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