Written by ForexBrokers.com
In this head to head comparison of FP Markets 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.
FP Markets vs Questrade: FP Markets was founded in 2005, while Questrade began in 2000. Both firms are privately held (not publicly traded) and are not banks. According to ForexBrokers.com, FP Markets holds a Trust Score of 90 out of 99 (highly trusted, per the 90–99 range), and Questrade holds a Trust Score of 85 (trusted, per the 80–89 range).
On regulation, FP Markets has 2 Tier-1 licenses and 1 Tier-2 license, whereas Questrade has 1 Tier-1 license and no Tier-2 licenses. ForexBrokers.com views Tier-1 regulators as highly trusted and Tier-2 as trusted. In practical terms, FP Markets carries a wider set of top-tier approvals, while Questrade still maintains a trusted regulatory profile.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Year Founded | 2005 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
FP Markets comes out ahead of Questrade on commissions and fees, especially for traders who want lower trading costs on forex and CFD products. FP Markets offers competitive pricing through its Raw ECN account, with very tight spreads and a commission-based setup that can keep all-in trading costs low. Its Standard account is more expensive, and some of its Iress account choices in Australia can add platform and data fees, but overall FP Markets is still viewed as a low-cost broker for active traders. FP Markets is rated 4.5/5 stars and ranked #11 out of 36 for Commissions and Fees by ForexBrokers.com.
Questrade Global uses a spread-only pricing model, meaning trading costs are built into the price rather than charged as a separate commission. While Questrade says spreads can be as low as 0.8 pips, the typical spreads seen on major forex pairs were closer to 2.1 to 2.5 pips, which can make trading more expensive than at many rivals. Its CFD pricing can also add up quickly because of the spread plus a $9.95 USD fee per unit, along with overnight financing costs. Questrade is rated 3.5/5 stars and ranked #33 out of 36 for Commissions and Fees.
In simple terms, FP Markets is the better pick if your main goal is to keep trading costs down. Questrade may be easier to understand at first because its costs are built into the spread, but its pricing is generally higher, especially for forex and CFD trading.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Minimum Deposit | $100 AUD | $0 |
| Average spread (EUR/USD) - Standard account | 1.3 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, FP Markets and Questrade both offer forex trading, but they differ in what else you can trade. FP Markets lists around 10,000 tradeable symbols and 71 forex pairs, while Questrade offers fewer total symbols at 675 but a wider selection of forex pairs at 110. Neither broker lets you buy real U.S. or international exchange-traded shares directly, and neither supports buying actual cryptocurrency.
FP Markets does stand out for copy trading and cryptocurrency CFDs, which Questrade does not offer. Still, Questrade has the stronger overall score for range of investments, with 5 stars and a ForexBrokers.com ranking of #12 out of 36 brokers, compared with FP Markets’ 4.5 stars and #17 ranking.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 675 |
| Forex Pairs (Total) | 71 | 110 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | No |
| 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.
FP Markets and Questrade both give traders a wide range of platform choices, including a free demo account, a proprietary trading platform, a Windows desktop app, and a web-based platform. Both brokers also let you trade directly from a chart, which can make placing orders faster and easier. Each earned 4 out of 5 stars for Trading Platforms and Tools, showing that both offer a solid setup for everyday trading needs.
Where FP Markets stands out is in extra platform support and trading features. It offers copy trading plus access to MetaTrader 4 and MetaTrader 5, while Questrade does not offer those options. That said, Questrade still covers the basics well and is a good fit for traders who want a simple platform experience. In ForexBrokers.com rankings, FP Markets places higher in this category at #22 out of 36 brokers, compared with Questrade at #28.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and Questrade both offer mobile trading apps for iPhone and Android, along with stock and forex price alerts, trendline drawing, and automatic saving of chart drawings. However, Questrade has an edge when it comes to watchlist syncing, since changes made in its mobile app also update your online account, while FP Markets does not offer this feature. For charting, Questrade includes 64 technical studies in its mobile app, while FP Markets uses the MetaTrader platform’s default charting tools.
In overall mobile trading app ratings, FP Markets comes out ahead with 4 out of 5 stars and a ForexBrokers.com ranking of #20 out of 36 brokers. Questrade is rated 3.5 out of 5 stars and ranks #28 out of 36. If you want stronger mobile app ratings, FP Markets has the lead, but if watchlist syncing and a wider set of chart studies matter more, Questrade may be the better fit.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, FP Markets gives traders more built-in tools and updates than Questrade. FP Markets offers daily market commentary, forex news from sources like Bloomberg, Reuters, and Dow Jones, a sentiment tool that shows long and short positioning, and an economic calendar for global news events. It also includes research features from Autochartist and Trading Central. By comparison, Questrade also provides Autochartist and Trading Central, but it does not offer daily market commentary, top-tier forex news, sentiment data, or an economic calendar. Questrade does, however, include TipRanks research, which FP Markets does not.
Overall, FP Markets has the edge for market research, with a 4-star Research rating and a ForexBrokers.com ranking of #22 out of 36 brokers. Questrade is rated 3.5 stars for Research and ranks #34 out of 36. For traders who want more frequent market updates and a wider mix of research tools, FP Markets may be the better fit, while Questrade may appeal to those who value TipRanks coverage alongside its other research features.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
For beginners looking to learn the basics, FP Markets offers more in the way of education than Questrade. FP Markets provides forex and CFD learning content, at least one educational webinar each month, and a large library of beginner and advanced trading videos. This gives new traders more ways to learn at their own pace, whether they prefer reading, watching videos, or joining live sessions. FP Markets is rated 4 out of 5 stars for Education and is ranked #22 out of 36 brokers by ForexBrokers.com.
Questrade also offers some educational material, but it falls behind FP Markets for forex and CFD learning support. It does not meet the same level for monthly webinars or the number of beginner and advanced trading videos, which may make it less helpful for someone starting out. Questrade is rated 3.5 out of 5 stars for Education and is ranked #28 out of 36 brokers by ForexBrokers.com.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FP Markets is better than Questrade. FP Markets finished with an overall rank of #19, while Questrade finished with an overall rank of #29.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 10,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 90 | 85 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
In an FP Markets vs. Questrade comparison for cryptocurrency access, neither broker allows buying actual delivered crypto, but FP Markets does offer cryptocurrency CFDs whereas Questrade does not.
FP Markets vs Questrade: for deposits and withdrawals, neither broker supports ACH or SEPA, both support bank wire transfers, and FP Markets additionally offers PayPal and Skrill while Questrade does not.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | FP Markets | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 90 | 85 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Questrade Review |
| Broker Screenshots | FP Markets | Questrade | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | FP Markets | Questrade | |
|---|---|---|---|
| Trust Score | 90 | 85 | |
| Year Founded | 2005 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | ||
| United Kingdom (U.K.) (FCA Authorised) | No | 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) | FP Markets | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | FP Markets | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 675 | |
| Forex Pairs (Total) | 71 | 110 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | No | |
| 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 | FP Markets | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.3 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | FP Markets | Questrade | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | FP Markets | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No |
| Trading Tools | FP Markets | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FP Markets | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | FP Markets | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | FP Markets | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FP Markets Review | Questrade Review |
| Overall | FP Markets | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 90 | 85 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Questrade Review |
IG
FOREX.com
CMC Markets
XTB
eToro
AvaTrade
Pepperstone
FP Markets
Tickmill