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 vs. Questrade: both are established online brokers with clear regulatory footprints. FXCM was founded in 1999 and is publicly traded; Questrade began in 2000 and remains privately held. Neither company is a bank.
Regulation and trust differ: FXCM holds 4 Tier-1 licenses and 2 Tier-2 licenses, while Questrade holds 2 Tier-1 licenses and no Tier-2 licenses. On ForexBrokers.com’s 99-point Trust Score—where 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and under 59 not trusted—FXCM scores 95 (highly trusted) and Questrade scores 85 (trusted).
| 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 |
FXCM’s commissions and fees are slightly higher than the industry average overall, but its pricing can be attractive depending on account type and volume. In May 2024, average EUR/USD spreads were about 0.78 pips for its EU, U.K., and Australia entities, and 1.38 pips for its St. Vincent and the Grenadines entity. Commission-based accounts posted a low 0.28-pip core spread (excluding commissions), with an effective spread around 0.74 pips once commissions are included. FXCM offers volume-based discounts: its five-tier Active Trader Rebate Program pays $5–$25 per million traded (not available in the U.K. or EU), and in the U.K. a $25,000 balance plus at least $50 million in monthly volume can drop commissions to $2.50 per side ($5 round-turn). Note: spreads can widen during rollover or volatile market conditions.
Questrade’s advertised EUR/USD target spread of 1.9 pips is steep compared with the industry average, which makes it pricier for frequent forex trades. With fewer details provided on commission-based alternatives or volume discounts, Questrade’s headline pricing typically lands higher than FXCM’s average spreads.
Bottom line on value: FXCM earns 4.5 out of 5 stars for commissions and fees and ranks #17 out of 63 brokers at ForexBrokers.com, while Questrade earns 3.5 out of 5 stars and ranks #33 out of 63. If minimizing spreads is your priority—especially with commission-based pricing or high monthly volume—FXCM generally undercuts Questrade. Always verify which pricing, discounts, and programs are available in your country before opening an account.
| 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 and Questrade on range of investments, Questrade offers a wider selection overall. Questrade lists 641 tradable symbols and 110 forex pairs, while FXCM has 440 symbols and 46 forex pairs. Both support forex trading as CFDs or spot. A key difference: Questrade provides access to exchange-traded securities (not CFDs) on both U.S. and international exchanges—so you can buy stocks like Apple or Vodafone directly—whereas FXCM does not. Reflecting this breadth, ForexBrokers.com rates Questrade 5/5 for Range of Investments (ranked #12 of 63) versus FXCM’s 4.5/5 (ranked #21).
Feature-wise, both brokers offer cryptocurrency exposure through CFDs, but neither lets you buy actual crypto for delivery. FXCM stands out with copy trading, which Questrade doesn’t offer—useful if you want to mirror experienced traders. Choose Questrade if you want one account for stock trading across U.S. and global markets plus a deep list of forex pairs; pick FXCM if you prioritize forex and CFDs with copy trading and don’t need direct stock ownership.
| 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 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 capable mobile trading apps for iPhone and Android. Each app supports price alerts for stocks or forex and watchlist syncing with your online account, so changes carry across mobile and web. For charting, both let you draw trendlines on stock or forex charts and auto-save your drawings, making it easy to pick up where you left off.
FXCM’s app includes 59 built-in technical studies, while Questrade offers 64. In independent testing from ForexBrokers.com, FXCM earns 4.5 out of 5 stars and ranks #16 out of 63 brokers for Mobile Trading Apps; Questrade earns 4.0 stars and ranks #28. If you value a slightly higher indicator count, Questrade edges ahead; if overall mobile experience and ratings matter most, FXCM comes out on top.
| 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.
FXCM offers daily market commentary, top‑tier forex news, Trading Central research, a sentiment tool showing long/short positioning, TipRanks insights, and an economic calendar. Questrade delivers Trading Central research, TipRanks insights, Autochartist tools, and an economic calendar, but does not provide daily market commentary or a sentiment tool; access to top‑tier forex news isn’t specified.
For research quality, FXCM is rated 4.5 stars and ranks #11 out of 63 brokers at ForexBrokers.com, while Questrade holds 3.5 stars and ranks #34. In short, FXCM leans toward daily insights and sentiment data, whereas Questrade stands out for its Autochartist integration alongside widely used research tools like Trading Central and TipRanks.
| 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 is the stronger choice for learning by doing. FXCM runs client webinars at least once a month and offers plenty of videos for both beginners and experienced traders, helping you progress from basics to more advanced strategies in one place. Questrade provides at least 10 beginner-friendly trading videos, which is helpful when you’re starting out, but it does not host monthly client webinars and offers fewer advanced lessons.
Independent reviews support this difference: FXCM earns 4.5 out of 5 stars for Education and ranks 13th out of 63 brokers at ForexBrokers.com, while Questrade scores 3.5 stars and ranks 28th. Choose FXCM if you want frequent live sessions and a fuller path from beginner to advanced material; pick Questrade if you only need basic video lessons to get started.
| 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 #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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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.
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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 |
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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 | 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 (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 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 | |
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| Trust Score | 95 | 85 | |
| Winner | check_circle | ||
| Review | FXCM Review | Questrade Review |
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