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.
FXCM (founded 1999) and Questrade (founded 2000) are online brokers with different trust profiles. FXCM is publicly traded, while Questrade is not; neither company is a bank. On ForexBrokers.com's 99-point Trust Score, FXCM earns 95 (highly trusted) and Questrade earns 85 (trusted), based on a scale where 90-99 is highly trusted, 80-89 trusted, and lower scores signal more risk.
Looking at regulation, FXCM holds 4 Tier-1 licenses and 2 Tier-2 licenses, compared with Questrade's 1 Tier-1 license and no Tier-2 licenses. This broader set of top-tier approvals helps explain FXCM's higher Trust Score, while Questrade's credentials still place it in the trusted range.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Year Founded | 1999 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Comparing FXCM and Questrade on commissions and fees, FXCM generally delivers lower all-in forex trading costs, especially on its commission-based pricing or if you qualify for volume discounts. FXCM is rated 4.5 out of 5 stars for commissions and fees and ranks 17th out of 63 brokers. Questrade is rated 3.5 out of 5 stars and ranks 33rd out of 63.
FXCM’s standard account spreads on EUR/USD averaged 0.78 pips in May 2024 for the EU, U.K., and Australia, and 1.38 pips with its St. Vincent and the Grenadines entity. Its commission-based account averaged 0.28 pips (excluding commission) in May 2024; after adding about 0.50 pips per round turn in commissions, the effective spread is near 0.74 pips. FXCM also offers active-trader discounts (availability varies by country; the rebate program is not offered in the U.K. or EU). In the U.K., for instance, a $25,000 balance and at least $50 million in monthly volume can reduce the commission to $2.50 per side ($5 round trip), which puts the effective EUR/USD cost around 0.78 pips. Keep in mind spreads can widen during rollover or in volatile markets.
Questrade Global is a spread-only broker, so your trading cost is built into the quoted price. While spreads can be as low as 0.8 pips under normal conditions, averages on major pairs often land around 2.1–2.5 pips—roughly $20 to trade a standard lot at a 2‑pip spread. For CFDs, Questrade adds a $9.95 USD trading fee per unit when you open and when you close a trade (about $19.95 total per round trip), on top of the spread and overnight financing (e.g., about $2.23 for one month in the example given). These extras can add up, meaning you may need a sizable price move—over 6% in the Tesla CFD example—just to break even.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average spread (EUR/USD) - Standard account | 0.9 | 0.8 or higher |
| 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.
FXCM vs. Questrade: Both brokers let you trade forex via CFDs or spot contracts. Questrade lists 675 tradeable symbols and 110 forex pairs, while FXCM offers 440 symbols and 46 currency pairs. According to ForexBrokers.com, Questrade earns 5 stars for Range of Investments and ranks 12th out of 63 brokers; FXCM scores 4.5 stars and ranks 21st.
Neither broker provides access to exchange-traded U.S. or international shares (not CFDs), and neither supports buying actual cryptocurrency. FXCM stands out by offering cryptocurrency CFDs and copy trading, which Questrade does not. If your priority is a wider selection of markets and currency pairs, Questrade’s larger lineup may appeal; if you want crypto CFDs or copy trading, FXCM may be the better fit.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 675 |
| Forex Pairs (Total) | 46 | 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.
FXCM vs. Questrade: both online brokers check the core boxes for trading platforms and tools. Each offers a free paper trading demo, a proprietary platform, a Windows desktop download, and a web-based platform. Both let you place trades directly from charts and include watchlists and technical charting features. Key differences: FXCM supports copy trading and MetaTrader 4 (MT4), while Questrade does not offer copy trading and does not support MT4. Neither broker supports MetaTrader 5 (MT5).
For platform quality, FXCM is rated 5 stars and ranks #4 out of 63 brokers for Trading Platforms and Tools at ForexBrokers.com, while Questrade earns 4 stars and ranks #28. If you want MT4 and copy trading alongside a capable web and desktop experience, FXCM stands out. If you prefer a broker’s own platform and don’t need MT4 or copy trading, Questrade is a solid alternative.
| 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 on iPhone and Android. Each app supports price alerts, synced watchlists between mobile and web, and drawing tools like trendlines that auto-save to your chart. For technical studies, Questrade offers 64 indicators while FXCM includes 59, so chartists who rely on a wider indicator list may lean slightly toward Questrade. Otherwise, feature coverage is very similar across both apps, including chart drawing and alerting for stocks and forex.
When it comes to third-party evaluations, FXCM earns a higher Mobile Trading Apps rating at 4.5 out of 5 stars and ranks #16 out of 63 brokers on ForexBrokers.com, while Questrade is rated 3.5 stars and ranks #28. In short, Questrade edges out on the number of indicators, but FXCM scores better overall for mobile app quality and user experience. Your best pick depends on whether you value more indicators or a higher expert rating.
| 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 FXCM vs Questrade for market research, FXCM stands out for day‑to‑day trading insights. FXCM provides daily market commentary, forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, a sentiment tool showing long/short positioning, and a global economic calendar. Questrade does not offer daily commentary, top-tier forex news, a sentiment tool, or an economic calendar.
On the tools front, both brokers include Trading Central and TipRanks. Only Questrade adds Autochartist, while neither offers Acuity Trading tools. For overall quality, FXCM earns a 4.5/5 Research rating and ranks #11 out of 63 brokers at ForexBrokers.com, while Questrade scores 3.5/5 and ranks #34. Choose FXCM if you value live news, commentary, sentiment data, and event tracking; consider Questrade if Autochartist’s pattern scanning is a priority and you source news elsewhere.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | No |
| TipRanks | Yes | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
For beginners who want to learn forex and CFDs, FXCM stands out. Its education library clears the 10-piece mark and includes 10+ beginner videos plus 10+ advanced videos, along with live client webinars at least once a month. Questrade, by comparison, offers fewer beginner and advanced videos and does not run monthly webinars, so newcomers get a slimmer set of forex/CFD learning materials.
That difference shows up in the scores: FXCM earns 4.5 out of 5 stars for Education and ranks #13 out of 63 brokers at ForexBrokers.com, while Questrade scores 3.5 stars and ranks #28. If your goal is to build forex and CFD skills from the ground up, FXCM is the stronger choice; Questrade may suit those who need only basic guidance rather than a full learning path.
| Feature |
FXCM
|
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 FXCM is better than Questrade. FXCM finished with an overall rank of #10, while Questrade finished with an overall rank of #29.
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
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Questrade
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|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 85 |
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Comparing FXCM vs Questrade for cryptocurrency trading: neither broker supports buying actual (delivered) cryptocurrencies, but FXCM offers cryptocurrency CFDs while Questrade does not.
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.
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0 of 5| Overall Rating | FXCM | Questrade | |
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| Trust Score | 95 | 85 | |
| Winner | check_circle | ||
| Review | FXCM Review | Questrade Review |
| Broker Screenshots | FXCM | Questrade | |
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| Regulation | FXCM | Questrade | |
|---|---|---|---|
| Trust Score | 95 | 85 | |
| 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 | 1 | |
| 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 (FSA 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 CMA 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 | 675 | |
| Forex Pairs (Total) | 46 | 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 | FXCM | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.9 | 0.8 or higher | |
| 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 | $0 | |
| 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 | No | |
| Autochartist | No | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | Yes | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | FXCM | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| 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 | |
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| Trust Score | 95 | 85 | |
| Winner | check_circle | ||
| Review | FXCM Review | Questrade Review |
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