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.
FOREX.com and Questrade are prominent online brokers with differing levels of trust based on their regulatory standings. FOREX.com, established in 1999, is a publicly traded company and holds an impressive 99 Trust Score from ForexBrokers.com, signaling it as highly trusted. It boasts 7 Tier-1 licenses, which are regarded as the most trustworthy. On the other hand, Questrade, founded in 2000 and privately held, has a Trust Score of 86, categorizing it as trusted but at a lower tier than FOREX.com. Questrade holds 2 Tier-1 licenses but lacks any Tier-2 accreditations, which FOREX.com has one of.
While neither FOREX.com nor Questrade operates as a bank, their different licensing profiles highlight varying levels of regulatory confidence. FOREX.com's status as a publicly traded entity potentially adds another layer of scrutiny and transparency, not mirrored in Questrade given its private standing. The disparity in their Trust Scores and licenses reflects the differences in how each company complies with international standards designed to protect investors and ensure honest trading practices.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Year Founded | 1999 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| 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 | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FOREX.com and Questrade both offer a wide range of trading options, but there are differences that may influence your decision. FOREX.com provides a remarkable 5,500 tradeable symbols, while Questrade offers 641. However, when it comes to forex pairs specifically, Questrade takes the lead with 110 options compared to FOREX.com's 80. Both platforms allow forex trading as a CFD or spot contract and offer cryptocurrency derivatives, but neither supports the purchase of actual cryptocurrencies or provides copy trading services.
Questrade stands out by allowing users to buy exchange-traded securities on U.S. and international exchanges, ideal for investors keen on traditional equities like Apple or Vodafone. FOREX.com, on the other hand, does not offer this feature, focusing instead on spot and derivative trading. Both platforms have impressed users and critics alike, each receiving a 5-star rating for their range of investments. Nonetheless, FOREX.com slightly edges out in rankings by ForexBrokers.com, securing the 7th spot while Questrade comes in at 11th among 63 brokers reviewed.
| 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) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | No | 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 trading platforms and tools are compared between FOREX.com and Questrade, both brokers offer a rich array of features. Each provides a proprietary platform, along with options to trade on a Windows-based desktop download and a web-based platform. They both also support simulated trading with a free virtual demo account for users to practice their strategies. FOREX.com has the added advantage of supporting MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular among traders for their extensive features, while Questrade does not offer these particular platforms. However, Questrade makes up for this by providing access to DupliTrade, giving users the ability to explore automated trading options. Neither broker currently supports ZuluTrade or copy trading.
For charting tools, FOREX.com stands out with a substantial offering of 239 drawing tools compared to Questrade's 20, giving traders more options for technical analysis. Both platforms enable direct trading from stock charts, making them user-friendly for active traders. When it comes to watch lists, Questrade provides a more diverse range with 52 configurable columns, as opposed to FOREX.com's 20. In terms of external rankings and user feedback, FOREX.com earns a higher rating for Trading Platforms and Tools with five stars and ranks 7th out of 63 brokers according to ForexBrokers.com, reflecting its strong reputation. Questrade, while commendable with a four-star rating, ranks 34th, indicating it may have less extensive offerings in comparison.
| 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 | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| 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 it comes to market research tools for forex trading, FOREX.com and Questrade offer distinct features that cater to different investor needs. FOREX.com stands out with daily market commentary and forex news from esteemed sources like Bloomberg and Reuters, providing traders with timely updates and insights. Their offerings also include a sentiment-based trading tool, which helps assess market movements, and technical analytics from Trading Central. Their research resources are highly praised, earning FOREX.com a 4.5-star research rating and a strong 9th place rank among 63 brokers, according to ForexBrokers.com. Additionally, FOREX.com provides a comprehensive economic calendar that highlights global news events, enhancing traders' ability to plan their strategies.
On the other hand, Questrade offers unique technical analysis tools through Autochartist and features comprehensive research data from TipRanks. While it may not provide daily market commentary or direct forex news from top-tier sources, Questrade includes technical tools from Trading Central and offers an informative economic calendar similar to FOREX.com. However, Questrade's research offerings have been rated 3.5 stars, placing it at the 51st position in the ForexBrokers.com ranking. These factors suggest that while Questrade provides useful tools and research, FOREX.com might be more suited to those who prioritize frequent updates and broad market insights in their forex trading journey.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners at FOREX.com and Questrade, both platforms provide more than ten educational pieces focused on forex or CFDs, including articles, videos, and archived webinars. However, FOREX.com stands out by offering monthly online educational webinars, something that Questrade does not provide. Importantly, both platforms maintain searchable archives of recorded webinars, making it easier for learners to revisit past materials. Moreover, for those at the beginner level, both brokers offer over ten educational videos tailored specifically for novice traders.
Advanced traders may find FOREX.com more appealing since it provides over ten videos targeting experienced users, a feature missing from Questrade's offerings. Another key educational tool is the investor dictionary; FOREX.com delivers with a comprehensive lexicon of over 50 investing terms, an aspect Questrade currently lacks. Reflecting these differences, FOREX.com boasts a higher education rating of 4.5 stars and ranks as the fourth best choice out of 63 brokers listed by ForexBrokers.com. In comparison, Questrade has a 3.5-star education rating and comes in at 36th place. This makes FOREX.com a more appealing choice for those keen on a thorough and varied educational experience.
| Feature |
FOREX.com
|
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 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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Both FOREX.com and Questrade do not allow the purchase of actual (delivered) cryptocurrency but do provide the option to buy cryptocurrency derivatives.
When comparing online brokers FOREX.com and Questrade in terms of deposit and withdrawal options, FOREX.com provides more flexibility with ACH, SEPA, PayPal, and credit/debit card options, while both platforms support Visa, Mastercard, and bank wires, yet neither allows transactions via Skrill.
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 | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| 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 | No | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FOREX.com | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | No | 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 | 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 | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | FOREX.com | Questrade | |
|---|---|---|---|
| Minimum Deposit | $100 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FOREX.com | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| 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 | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FOREX.com | 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 | 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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