Written by ForexBrokers.com
In this head to head comparison of Questrade vs FXOpen, 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.
Questrade, established in 2000, and FXOpen, founded in 2003, are both notable online brokers that have carved out a space in the financial trading world. Neither company is publicly traded, nor do they function as banks. When it comes to regulatory credentials, they are evenly matched in Tier-1 licenses, each holding two, which positions them in a highly trusted category. However, they don't have Tier-2 licenses, which provide an additional layer of trust.
The ForexBrokers.com Trust Score sheds further light on their standing; Questrade scores an 86 out of 99, categorizing it as a trusted broker according to ForexBrokers' standards. On the other hand, FXOpen scores a 76, placing it in the average risk category. These scores provide potential investors with a quick view of their relative safety and regulatory oversight, helping to inform decisions when navigating the online trading environment.
| Feature |
Questrade
|
FXOpen
|
|---|---|---|
| Year Founded | 2000 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Comparing commissions and fees, FXOpen scores better overall than Questrade in independent ratings. FXOpen holds a 4-star rating and ranks #45 out of 63 brokers for the Commissions and Fees category at ForexBrokers.com, while Questrade earns 3 stars and ranks #59 out of 63.
Questrade’s pricing is highlighted by a target spread of 1.9 pips on EUR/USD, which is steep versus the industry average. This helps explain its 3-star score and lower ranking (#59/63) for commissions and fees.
FXOpen does not provide average spread data, so exact costs are harder to gauge from published figures alone. Even so, it achieves a higher 4-star rating and a stronger #45/63 ranking for commissions and fees, suggesting a more competitive fee profile than Questrade based on available assessments.
| Feature |
Questrade
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $250 | $100 |
| Average spread (EUR/USD) - Standard account | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | |
| Skrill (Deposit/Withdraw) | No | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Questrade vs FXOpen: When it comes to range of investments, Questrade offers far more choice. Questrade lists 641 tradeable symbols and 110 forex pairs, and lets you buy exchange-traded securities on U.S. and international markets (think Apple on NASDAQ or Vodafone in London). FXOpen offers 87 symbols and 25 forex pairs, and does not provide access to exchange-traded U.S. or international stocks. Both brokers support forex trading as CFDs or spot, and both offer cryptocurrency CFDs, but neither lets you buy actual, delivered cryptocurrencies.
Feature-wise, FXOpen supports copy trading, while Questrade does not. For overall range of investments, ForexBrokers.com rates Questrade 5 stars (ranked 12th of 63 brokers) and FXOpen 3 stars (ranked 63rd of 63). If having the widest selection of markets matters most, Questrade is the stronger pick; if you want copy trading with a leaner lineup, FXOpen may fit.
| Feature |
Questrade
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 87 |
| Forex Pairs (Total) | 110 | 25 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers |
Dive deeper: Best Copy Trading Platforms.
Questrade and FXOpen both offer free paper (demo) accounts, plus Windows-based desktop and web trading platforms. Questrade provides its own in-house platform, which includes trading directly from charts. FXOpen does not have a proprietary platform, but it does support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with copy trading—features Questrade does not offer. Both brokers let you place trades from a chart in the platform. (Specific counts for technical indicators and watchlist columns were not provided.)
For Trading Platforms and Tools, both brokers earn 4 out of 5 stars, yet their category rankings differ: Questrade is ranked #35 out of 63 brokers by ForexBrokers.com, while FXOpen is ranked #54 out of 63. In short, choose Questrade if you want an in-house platform experience with chart trading and a demo account. Pick FXOpen if you prefer the MetaTrader ecosystem and want access to copy trading alongside a free demo.
| Feature |
Questrade
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Questrade and FXOpen both deliver mobile trading apps for iPhone and Android, with price alerts for stocks and forex available on each. Both apps let you draw trendlines on charts, covering the basics traders expect day to day.
The differences show up in charting and syncing. Questrade offers 64 technical studies versus 30 with FXOpen, and Questrade saves chart drawings automatically while FXOpen does not. Questrade also syncs watchlists between the app and your online account, which FXOpen lacks. Despite sharing a 4-star mobile app rating, ForexBrokers.com ranks Questrade higher (#35 of 63) than FXOpen (#55 of 63). If you value deeper chart tools and seamless watchlists, Questrade stands out; if you mainly need core features, FXOpen fits the bill.
| Feature |
Questrade
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Comparing Questrade vs FXOpen for market research: FXOpen provides daily market commentary and forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones—helpful if you trade on headlines. Questrade does not publish daily commentary, and its access to top-tier news isn’t specified. Both brokers include an economic calendar, and neither offers a sentiment tool that shows long/short positioning.
When it comes to built-in analysis, Questrade stands out with Autochartist, Trading Central, and TipRanks, though it doesn’t offer Acuity Trading tools. FXOpen does not include Autochartist or Trading Central, and availability of TipRanks or Acuity Trading isn’t specified. Overall, ForexBrokers.com rates Questrade 3.5/5 for Research (ranked 52 of 63) versus FXOpen at 3/5 (ranked 64 of 63). Choose Questrade if you want more third-party research tools, or FXOpen if you prioritize daily commentary and headline news.
| Feature |
Questrade
|
FXOpen
|
|---|---|---|
| Daily Market Commentary (Articles) | No | Yes |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | No |
| Trading Central | Yes | No |
| Client sentiment data | No | No |
| TipRanks | Yes | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners comparing Questrade vs FXOpen on education, Questrade comes out ahead. Questrade offers at least 10 beginner-focused videos that explain core trading topics, while FXOpen does not meet that threshold. Neither broker hosts monthly client webinars, and neither provides 10 or more advanced videos, so both are better for getting started than for deep, expert-level study. This summary does not confirm whether either broker maintains a dedicated forex or CFD education library with 10+ articles, videos, or webinars.
Independent ratings reflect the gap: Questrade earns 3.5 out of 5 stars for Education and ranks #36 of 63 brokers at ForexBrokers.com, while FXOpen scores 3 stars and ranks #59. If you want beginner-friendly videos and a more developed learning path for forex and CFDs, Questrade is the stronger choice; FXOpen may require more self-guided research.
| Feature |
Questrade
|
FXOpen
|
|---|---|---|
| Webinars | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Questrade is better than FXOpen. Questrade finished with an overall rank of #32, while FXOpen finished with an overall rank of #54.
Regulated in both the U.S. and Canada, Questrade is a trusted full-service multi-asset broker now offering forex and CFDs alongside its stock trading services for active and passive investors. While its scope of educational resources and in-house research is limited, Questrade has an impressive platform lineup.
| Feature |
Questrade
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FXOpen
|
|---|---|---|
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| Trust Score | 86 | 76 |
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Questrade vs FXOpen: neither broker allows you to buy and take delivery of actual cryptocurrencies, but both offer cryptocurrency CFD trading.
Comparing online brokers Questrade vs FXOpen for deposits and withdrawals: both do not support ACH or SEPA; Questrade does not support PayPal or Skrill and does support bank wires, while the provided information does not specify whether Questrade accepts Visa/Mastercard or whether FXOpen supports PayPal, Skrill, Visa/Mastercard, or bank wires.
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 | Questrade | FXOpen | |
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| Trust Score | 86 | 76 | |
| Winner | check_circle | ||
| Review | Questrade Review |
| Broker Screenshots | Questrade | FXOpen | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | Questrade | FXOpen | |
|---|---|---|---|
| Trust Score | 86 | 76 | |
| Year Founded | 2000 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| 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) | Questrade | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | ||
| Canada (CIRO Authorised) | Yes | No | |
| 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) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Questrade | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | Questrade | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 87 | |
| Forex Pairs (Total) | 110 | 25 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers |
| Cost | Questrade | FXOpen | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | No | Yes |
| Funding | Questrade | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $250 | $100 | |
| PayPal (Deposit/Withdraw) | No | ||
| Skrill (Deposit/Withdraw) | No | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | No |
| Trading Platforms | Questrade | FXOpen | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Questrade | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Questrade | FXOpen | |
|---|---|---|---|
| Daily Market Commentary (Articles) | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | No | |
| Trading Central | Yes | No | |
| TipRanks | Yes | ||
| Client sentiment data | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | FXOpen | |
|---|---|---|---|
| Webinars | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No |
| Major Forex Pairs | Questrade | FXOpen | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Questrade Review |
| Overall | Questrade | FXOpen | |
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| Trust Score | 86 | 76 | |
| Winner | check_circle | ||
| Review | Questrade Review |
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