Written by ForexBrokers.com
In this head to head comparison of FOREX.com 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.
Founded in 1999, FOREX.com stands out as a leader in the online brokerage world with its impressive ForexBrokers.com Trust Score rating of 99 out of 99. As a publicly traded entity, FOREX.com has shown strong commitment to being highly regulated, holding 7 Tier-1 licenses and 1 Tier-2 license - both classifications that signify a high level of trust. These factors contribute to a perception of reliability and credibility, offering customers peace of mind in an often volatile domain.
In contrast, Questrade, established in 2000, also presents itself as a trustworthy broker with a Trust Score rating of 86. While not publicly traded, it continues to gain trust with 2 Tier-1 licenses. However, it holds no Tier-2 licenses. Though slightly less stringent in regulatory holdings compared to FOREX.com, Questrade still maintains policies that signify trust and security for its clientele. This positions it as a reliable choice, especially for investors who value cost-effectiveness alongside dependable service.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Year Founded | 1999 | 2000 |
| Publicly Traded (Listed) | Yes | |
| Bank | ||
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When considering online brokers for trading, it's crucial to understand their fee structures. FOREX.com, rated 4.5 stars for commissions and fees, positions itself as a strong choice with a #13 ranking out of 63 brokers by ForexBrokers.com. The platform offers multiple execution methods and a variety of account types, including the Standard and Raw Spread accounts. For U.S. residents, the Standard account typically incurs higher spreads, around 1.4 for EUR/USD, appealing to those who prefer market-maker execution despite the higher price. Meanwhile, the Raw Spread account offers lower typical spreads of 0.13 for EUR/USD but adds a commission of $7 per standard lot. This makes it an attractive choice for active traders who can benefit from rebates based on trading volume.
On the other hand, Questrade, with a more modest 3-star rating and ranking #58 by ForexBrokers.com, may not be the first choice for those prioritizing low fees. Questrade's target spreads on the EUR/USD at 1.9 pips are steeper than the industry average, which can significantly impact costs, especially for frequent traders. Although Questrade provides access to different financial markets, its higher spreads might deter cost-conscious traders seeking tighter spreads and lower commissions.
Both brokers offer distinct advantages and disadvantages, primarily based on trading volume and preference for spread or commission-based pricing. While FOREX.com might be costlier at lower volumes, benefits, such as its advanced platform features and options for rebates, can make it attractive for high-volume traders. Conversely, Questrade's higher spreads might not appeal to those prioritizing the lowest possible cost per trade. Understanding these differences is key to selecting the broker that aligns best with your trading strategy and financial goals.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Minimum Deposit | $100 | $250 |
| Average Spread EUR/USD - Standard | 1.4 | N/A |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | |
| ACH or SEPA Transfers | Yes | |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments available through FOREX.com and Questrade, both platforms offer compelling options for traders. FOREX.com provides access to an impressive 5,500 tradable symbols, including 80 forex pairs, while also supporting trading of forex as CFDs or spot contracts. Although it excels in forex offerings, FOREX.com does not provide the option to trade exchange-traded securities from U.S. or international exchanges, such as Apple or Vodafone shares. Additionally, FOREX.com enables trading of cryptocurrency derivatives but not the actual cryptocurrencies themselves. With a five-star rating for its range of investments from ForexBrokers.com, FOREX.com holds a noteworthy position at number 7 out of 63 brokers.
Questrade, on the other hand, presents a slightly different portfolio with 641 tradable symbols that include 110 forex pairs, and similarly offers forex trading as CFDs or spot contracts. One of Questrade's standout features is its provision for trading exchange-traded securities on both U.S. and international exchanges, allowing access to popular stocks like Apple and Vodafone. However, like FOREX.com, Questrade does not support copy trading or the purchase of actual cryptocurrencies, only offering derivatives. Also earning a five-star rating for its investment range, Questrade ranks 11th among 63 brokers in the ForexBrokers.com rankings, reflecting its strong competitive position in investment variety.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 641 |
| Forex Pairs (Total) | 80 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | |
| Social Trading / Copy Trading | ||
| 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 trading platforms and tools, both FOREX.com and Questrade offer a strong set of features, but they cater to slightly different needs. FOREX.com shines with its top-ranked proprietary platforms available for both Windows and web-based applications, in addition to offering the popular MetaTrader 4 (MT4) and 5 (MT5) platforms. It’s also highly rated, scoring 5 stars for its trading tools, ranking it 7th out of 63 brokers. Traders on FOREX.com can benefit from up to 239 drawing tools, and the ability to manage trades directly from the chart. Both brokers offer virtual demo accounts, allowing users to practice trading without any financial risk.
In contrast, Questrade, rated with 4 stars, provides its own in-house platform along with capabilities for DupliTrade but lacks support for MetaTrader platforms. Despite its lower ranking, Questrade offers a substantial number of watch list fields, totaling 52 compared to 20 by FOREX.com, which can be advantageous for traders who prioritize detailed monitoring. Moreover, like FOREX.com, Questrade provides both downloadable and web-based trading platforms, and users can trade directly from the stock chart. However, with fewer drawing tools available (20 compared to FOREX.com's 239), traders might find it less versatile for technical analysis.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | ||
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | Yes | |
| DupliTrade | Yes | |
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 88 | 64 |
| Charting - Drawing Tools (Total) | 239 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 20 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When deciding between the mobile trading apps of FOREX.com and Questrade, both platforms offer iPhone and Android apps equipped with essential features like stock and forex price alerts and watchlist symbol syncing. This means any watchlist changes you make will automatically sync between your mobile app and your online account. They also both support trendline drawing and provide the ability to view charts in multiple time frames, including daily, weekly, and intraday options. Additionally, they allow you to create watchlists with real-time quotes, ensuring you stay updated on market developments.
When it comes to charting capabilities, FOREX.com edges ahead with 88 technical studies compared to Questrade's 64. Both apps automatically save drawings on stock or forex charts, offering convenience to traders on the go. In terms of overall performance, FOREX.com is highly rated with a perfect 5-star rating and ranked #3 out of 63 brokers for mobile trading apps by ForexBrokers.com. Meanwhile, Questrade holds a respectable 4-star rating and is placed at #34 in the same category. This makes FOREX.com a preferred choice for traders seeking a slightly richer mobile app experience.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 64 |
| 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 capabilities of FOREX.com and Questrade, each platform offers unique strengths. FOREX.com provides daily market commentary, ensuring traders stay informed with the latest insights. It also offers top-tier forex news from renowned sources like Bloomberg and Reuters, and pairs this with technical analysis tools from Trading Central. A sentiment-based trading tool is available at FOREX.com, enhancing decision-making by showing the ratio of long and short positions across various instruments. It also includes an economic calendar to help users track significant global events. FOREX.com stands out with a 4.5-star research rating and is ranked 9th out of 63 brokers by ForexBrokers.com.
In contrast, Questrade gives users access to Autochartist and Trading Central's analysis tools, which can be useful for traders relying on technical or fundamental insights. Additionally, Questrade provides market research from TipRanks and includes an economic calendar for those keeping an eye on global news events. However, some features like daily market commentary and sentiment-based trading aren't available with Questrade, which reflects in their lower research rating of 3.5 stars, placing them 51st in the ForexBrokers.com ranking. Each platform's offerings cater to different trading needs, making them suitable for users with specific preferences in market research tools and resources.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | 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 offered by FOREX.com and Questrade, both platforms provide a range of materials for beginners, including articles, videos, and archived webinars on forex and CFDs. FOREX.com takes a more comprehensive approach, offering regular monthly online webinars tailored for clients, and these webinars are conveniently archived for future access. Beginners will find plenty of content here, with at least ten specifically designed videos addressing trading topics for those just starting.
FOREX.com also caters to more advanced traders with additional educational videos, whereas Questrade does not. Furthermore, FOREX.com enriches its educational offering with an investor dictionary featuring over 50 key investing terms, a resource not available on Questrade. These factors are reflected in their education ratings, where FOREX.com shines with 4.5 stars, ranking 4th out of 63 brokers according to ForexBrokers.com. In contrast, Questrade receives a 3.5-star rating and ranks 36th in the same category, highlighting a notable difference in the depth and breadth of educational resources available to traders.
| Feature |
FOREX.com
|
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 FOREX.com is better than Questrade. FOREX.com finished with an overall rank of #5, while Questrade finished with an overall rank of #32.
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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When comparing cryptocurrency investment options, FOREX.com does not offer the ability to buy actual delivered cryptocurrency but offers cryptocurrency derivatives, while Questrade similarly allows the purchase of cryptocurrency derivatives without providing the option to buy actual delivered cryptocurrency.
When comparing online brokers, FOREX.com offers more diverse options for depositing and withdrawing funds, including ACH/SEPA transfers, PayPal, Visa/Mastercard, and bank wires, while Questrade supports Visa/Mastercard and bank wire transactions.
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 | FOREX.com | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | Questrade Review |
| Broker Screenshots | FOREX.com | Questrade | |
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| Regulation | FOREX.com | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1999 | 2000 | |
| Publicly Traded (Listed) | Yes | ||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | FOREX.com | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | Yes | ||
| Singapore (MAS Authorised) | Yes | ||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | Yes | ||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes |
| Tier-2 Licenses (Trusted) | FOREX.com | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | FOREX.com | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 641 | |
| Forex Pairs (Total) | 80 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | ||
| Int'l Stock Trading (Non CFD) | Yes | ||
| Social Trading / Copy Trading | |||
| 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 | FOREX.com | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | N/A | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | ||
| Inactivity Fee | Yes | ||
| Execution: Agency Broker | Yes | ||
| Execution: Market Maker | Yes |
| Funding | FOREX.com | Questrade | |
|---|---|---|---|
| Minimum Deposit | $100 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | |||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes |
| Trading Platforms | FOREX.com | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | |||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | Yes | ||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| Trading Tools | FOREX.com | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 20 | 52 | |
| Charting - Indicators / Studies (Total) | 88 | 64 | |
| Charting - Drawing Tools (Total) | 239 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FOREX.com | 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 | 88 | 64 | |
| 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 | FOREX.com | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | ||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | ||
| Economic Calendar | Yes | Yes |
| Education | FOREX.com | 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 | FOREX.com | 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 | FOREX.com Review | Questrade Review |
| Overall | FOREX.com | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | Questrade Review |
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