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 |
FXCM and Questrade take different approaches to pricing, and that makes a big difference for active traders. FXCM’s commissions and fees are a bit higher than the industry average overall, but its commission-based accounts can offer lower spreads, with average EUR/USD spreads of 0.28 pips before commissions in May 2024. Its standard account spreads were higher, averaging 0.78 pips for EU, U.K., and Australia accounts, and 1.38 pips for St. Vincent and the Grenadines. FXCM also offers active trader rebates in some regions, which can lower costs further for high-volume traders. FXCM is rated 4.5 stars and ranked #17 out of 36 brokers for commissions and fees.
Questrade uses a spread-only model, so trading costs are built into the price instead of being charged as a separate commission. While Questrade says spreads can be as low as 0.8 pips, real-world major-pair spreads were closer to 2.1 to 2.5 pips, which can make trading more expensive than it first appears. CFD trading costs can also add up quickly, since Questrade charges a $9.95 USD fee per unit on top of the spread, plus overnight financing if you hold positions open. Questrade is rated 3.5 stars and ranked #34 out of 36 brokers for commissions and fees.
In short, FXCM is the better pick for traders focused on lower overall pricing, especially if they qualify for active trader discounts or use commission-based accounts. Questrade may be easier to understand at first because its costs are bundled into the spread, but its typical forex and CFD pricing is generally less competitive. If keeping trading costs down is your main goal, FXCM has the edge over Questrade.
| 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.
When comparing FXCM vs Questrade for range of investments, Questrade offers a wider selection overall. Questrade lists 675 tradeable symbols and 110 forex pairs, while FXCM offers 440 symbols and 46 forex pairs. Both brokers let you trade forex as a CFD or spot contract, but neither supports buying exchange-traded stocks on U.S. or international exchanges, and neither offers direct crypto buying. In terms of extras, FXCM does support copy trading and crypto CFDs, while Questrade does not offer either feature.
For range of investments ratings, Questrade comes out ahead with a 5-star score and a ForexBrokers.com ranking of #12 out of 36 brokers. FXCM is still competitive, earning 4.5 stars and ranking #21. If you want more markets and forex pairs, Questrade is the stronger choice, while FXCM may appeal more if copy trading or crypto CFDs are important to you.
| 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 and Questrade both give traders a solid set of platform choices, including a free paper trading demo, a proprietary platform, a Windows desktop app, and a web-based platform. Both also let users place trades directly from a chart, which can make active trading easier. In ForexBrokers.com’s Trading Platforms and Tools category, FXCM stands out with a 5-star rating and a #4 ranking out of 36 brokers, while Questrade earns 4 stars and ranks #29.
Where FXCM pulls ahead is in extra trading features. It supports copy trading and MetaTrader 4 (MT4), giving traders more ways to follow others and use familiar tools. Questrade does not offer copy trading or MT4, and neither broker supports MetaTrader 5 (MT5). For traders who want more platform flexibility and a wider set of tools, FXCM has the edge, while Questrade still covers the basics well for everyday charting and order entry.
| 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 offer mobile trading apps for iPhone and Android, along with stock or forex price alerts and watchlist syncing between the app and the online account. Each app also lets users draw trendlines on charts, and those drawings save automatically, which makes it easier to keep track of trading ideas while moving between devices.
When it comes to charting tools, Questrade has a slight edge with 64 technical studies in its mobile app compared with 59 at FXCM. Even so, FXCM comes out ahead overall in mobile trading app ratings, earning 4.5 out of 5 stars versus Questrade’s 3.5 stars. ForexBrokers.com also ranks FXCM higher in this category, placing it No. 16 out of 36 brokers, while Questrade sits at No. 29.
| 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.
When it comes to market research, FXCM has the edge over Questrade. FXCM offers daily market commentary, forex news from major sources like Bloomberg and Reuters, a sentiment tool that shows long and short position ratios, and an economic calendar for tracking key global events. It also includes Trading Central and TipRanks, giving traders more ways to study the market before placing a trade. FXCM does not offer Autochartist or Acuity Trading tools.
Questrade offers a more limited research setup, but it does include Autochartist, Trading Central, and TipRanks. However, it does not provide daily market commentary, top-tier forex news, sentiment data, or an economic calendar. Based on ForexBrokers.com, FXCM is rated 4.5 out of 5 stars for research and ranks #11 out of 36 brokers, while Questrade is rated 3.5 stars and ranks #35, making FXCM the stronger choice for traders who want more market insight.
| 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.
When it comes to beginner-friendly education, FXCM has a clear edge over Questrade. FXCM offers forex and CFD learning materials, monthly live educational webinars, and plenty of videos for both new and experienced traders, including at least 10 beginner videos and 10 advanced videos. Questrade, by comparison, does not appear to offer the same level of forex or CFD-focused learning content, and it also lacks monthly educational webinars and a large library of beginner or advanced trading videos.
This difference shows up in the ratings and rankings too. FXCM is rated 4.5 out of 5 for Education and ranks #13 out of 36 brokers in ForexBrokers.com’s Education category, while Questrade is rated 3.5 out of 5 and ranks #28. For beginners looking for more trading lessons, webinars, and video-based support, FXCM is the stronger choice.
| 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
|
|---|---|---|
| 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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