Written by ForexBrokers.com
In this head to head comparison of FXCM 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, FXCM and its publicly traded status lend it a certain level of credibility in the online brokerage world. It boasts four highly trusted Tier-1 licenses as recognized by ForexBrokers.com, alongside two trusted Tier-2 licenses. With a Trust Score of 95 out of 99, FXCM is categorized as highly trusted, making it a reputable choice for online trading. Although not a bank, FXCM's regulatory framework seems robust and well-regarded within the industry.
Questrade, established in 2000, differs from FXCM in that it is a privately held company and not listed on any stock exchange. It holds two Tier-1 licenses, which are still considered highly trusted, but it lacks any Tier-2 licenses. With a Trust Score of 86, Questrade is deemed a trusted broker. Like FXCM, Questrade is not a bank but stands out as a trustworthy option in the realm of online brokers. Both platforms offer unique strengths, giving investors a choice depending on their trust and regulatory preferences.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Year Founded | 1999 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Comparing commissions and fees, FXCM generally offers lower trading costs than Questrade on major forex pairs, despite FXCM being slightly above the industry average overall. FXCM earns 4 out of 5 stars for commissions and fees and ranks #25 out of 63 brokers, while Questrade earns 3 out of 5 stars and ranks #59 out of 63. If your priority is tighter EUR/USD pricing, FXCM typically has the edge over Questrade.
FXCM’s May 2024 average spreads on a standard account were 0.78 pips for EUR/USD in the EU, U.K., and Australia, and 1.38 pips via its St. Vincent and the Grenadines entity. Its commission-based accounts averaged 0.28 pips (excluding commissions); after adding roughly 0.50 pips per round turn in commissions, the effective spread is about 0.74 pips. High-volume traders may cut costs further through the five-tier Active Trader Rebate Program (not available in the U.K. or EU), which pays $5 to $25 per million traded if you trade at least $10 million per month. As one example, in the U.K. a $25,000 balance and $50 million in monthly volume can reduce commissions to $2.50 per side ($5 round turn), bringing the effective EUR/USD cost near 0.78 pips based on a 0.28-pip core price. Note: spreads can widen during rollover or fast markets.
Questrade’s target spread of 1.9 pips on EUR/USD is steep versus the industry average and notably higher than FXCM’s typical pricing. Bottom line: FXCM’s mix of lower effective spreads and potential rebates will usually beat Questrade on forex trading costs, though your final pricing depends on your account type, location, and monthly trading volume.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $250 |
| Average spread (EUR/USD) - Standard account | 0.9 | N/A |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing FXCM vs. Questrade for range of investments: both let you trade forex as spot or CFDs. FXCM lists 440 tradeable symbols and 46 currency pairs; Questrade offers 641 symbols and 110 currency pairs. Only Questrade lets you buy exchange-traded stocks and ETFs on U.S. and international exchanges (for example, Apple on NASDAQ or Vodafone in London). FXCM does not offer exchange-traded securities, but it does support copy trading, which Questrade lacks. Neither broker lets you buy actual cryptocurrency, but both provide crypto via CFDs.
On range of investments, FXCM scores 3.5/5 and ranks 48th of 63 at ForexBrokers.com, while Questrade earns 5/5 and ranks 12th of 63. Choose FXCM if you want forex with copy trading and CFD access; pick Questrade if you want a wider symbol list plus the ability to buy U.S. and global stocks alongside many forex pairs.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 641 |
| Forex Pairs (Total) | 46 | 110 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
FXCM and Questrade both check key boxes for everyday traders: each offers a free paper trading (demo) account, an in-house platform, a Windows desktop download, and a web-based platform. Both also let you place trades straight from charts and manage watchlists. Where they diverge is in advanced options: FXCM supports copy trading (mirror other traders’ strategies) and offers MetaTrader 4 (MT4), while Questrade does not. Neither broker supports MetaTrader 5 (MT5).
For trading platforms and tools, FXCM earns 5 stars and ranks #6 out of 63 brokers at ForexBrokers.com, while Questrade holds 4 stars and ranks #35. In short, choose FXCM if you want MT4 and copy trading alongside strong charting and platform choice; pick Questrade if you prefer its proprietary platform experience across web and desktop, with the benefit of a free demo to practice.
| Feature |
FXCM
|
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) | No | No |
| Charting - Indicators / Studies (Total) | 115 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and Questrade both deliver full-featured mobile trading apps for iPhone and Android. Each app supports stock and forex price alerts, synced watchlists that mirror your online account, and charting tools that include trendline drawing with auto-saved annotations. Whether you track markets on the go or switch between phone and desktop, both platforms keep your settings aligned and your alerts active.
For charting depth, Questrade edges out FXCM with 64 technical studies versus 59. However, FXCM earns stronger third-party marks: 4.5 stars for Mobile Trading Apps and a #16 ranking out of 63 brokers from ForexBrokers.com, compared with Questrade’s 4 stars and #35 ranking. Choose Questrade if you want a slightly larger indicator set; pick FXCM if higher ratings and overall app standing matter more to you.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 59 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing market research, FXCM delivers daily market commentary, forex news from top-tier sources (e.g., Bloomberg, Reuters, or Dow Jones), a sentiment tool showing the ratio of long vs. short positions, plus research from Trading Central and TipRanks. Questrade does not offer daily commentary, lacks a sentiment tool, and does not specify access to comparable top-tier forex news. Both brokers provide Trading Central, TipRanks, and an economic calendar, while Questrade adds Autochartist—a tool FXCM does not include. Neither offers research from Acuity Trading.
The results show in the scores: FXCM earns 4.5/5 stars for Research and ranks #11 out of 63 brokers at ForexBrokers.com; Questrade earns 3.5/5 stars and ranks #52. Consider FXCM if you want daily commentary, integrated news, and sentiment data, and consider Questrade if Autochartist is a must-have alongside Trading Central, TipRanks, and an economic calendar.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | No | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | No |
| TipRanks | Yes | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing FXCM vs Questrade for beginner education, FXCM offers more ways to learn. FXCM hosts monthly client webinars, provides 10+ beginner-focused videos, and adds 10+ advanced videos for when you’re ready to go deeper. Questrade delivers 10+ beginner videos but does not offer monthly webinars and lacks a large library of advanced videos. Reflecting this gap, FXCM earns 4.5/5 stars for Education and ranks #14 out of 63 brokers on ForexBrokers.com, while Questrade scores 3.5/5 stars and ranks #36.
If you want live sessions and a clear path from beginner to advanced topics, FXCM is the stronger pick for ongoing education. If you mainly need starter videos and prefer to learn at your own pace without webinars, Questrade can cover the basics but may feel limited as your skills grow.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| 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 FXCM is better than Questrade. FXCM finished with an overall rank of #15, while Questrade finished with an overall rank of #32.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 95 | 86 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
FXCM vs Questrade: neither broker lets you buy actual (delivered) cryptocurrency, but both offer cryptocurrency CFD trading for investors seeking crypto exposure without owning the coins.
FXCM vs Questrade: FXCM supports ACH/SEPA transfers, PayPal, Skrill, and bank wire deposits and withdrawals, while Questrade supports bank wires only (no ACH/SEPA, PayPal, or Skrill), with Visa/Mastercard availability not specified for either broker.
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 | FXCM | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | FXCM Review | Questrade Review |
| Broker Screenshots | FXCM | Questrade | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | FXCM | Questrade | |
|---|---|---|---|
| Trust Score | 95 | 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 | 4 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | FXCM | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | 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) | FXCM | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | FXCM | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 641 | |
| Forex Pairs (Total) | 46 | 110 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | FXCM | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.9 | N/A | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | FXCM | Questrade | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | FXCM | 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) | No | No | |
| cTrader | No | No |
| Trading Tools | FXCM | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 115 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 59 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FXCM | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | No | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | Yes | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | FXCM | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FXCM Review | Questrade Review |
| Overall | FXCM | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | FXCM Review | Questrade Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill