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 |
FXCM is the better-priced choice in this matchup for forex traders. It earns 4 out of 5 stars for commissions and fees and ranks #17 out of 63 brokers at ForexBrokers.com, while Questrade scores 3 out of 5 stars and ranks #33 out of 63. In plain terms: FXCM’s typical costs are lower, and it offers more ways for high-volume traders to trim expenses.
At FXCM, average EUR/USD spreads in May 2024 were about 0.78 pips for EU, U.K., and Australia accounts, and 1.38 pips for its St. Vincent and the Grenadines entity. Its commission-based pricing averaged 0.28 pips before commissions; after adding roughly 0.50 pips in round-turn commission, the effective spread comes out around 0.74–0.78 pips. FXCM also has a five-tier Active Trader Rebate Program (not available in the U.K. or EU) that starts at $10 million in monthly volume, paying $5 to $25 per million traded. For 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). As with many brokers, spreads can widen during rollover or fast markets.
Questrade’s target EUR/USD spread is 1.9 pips, which is steep versus the industry average and higher than FXCM’s typical pricing. That gap, along with FXCM’s active-trader rebates, helps explain the higher 4-star rating and stronger #17/63 ranking for FXCM compared with Questrade’s 3 stars and #33/63 for commissions and fees.
| 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.
FXCM and Questrade both support forex trading as CFDs or spot contracts and offer crypto CFDs (neither supports buying actual crypto). Questrade delivers a wider lineup overall with 641 tradeable symbols and 110 forex pairs, compared with FXCM’s 440 symbols and 46 pairs. Questrade also lets you buy exchange‑traded stocks on U.S. and international markets (such as Apple or Vodafone), while FXCM does not offer direct share dealing. If you want copy trading, FXCM has it and Questrade does not.
For range of investments, ForexBrokers.com rates Questrade at 5/5 (12th of 63) and FXCM at 3.5/5 (21st of 63). Choose Questrade for broader market access across stocks and a larger set of forex pairs; choose FXCM if you prefer a CFD‑focused approach with the option to copy trade.
| 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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 86 |
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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 | 86 | |
| Winner | check_circle | ||
| Review | FXCM Review | Questrade Review |
| Broker Screenshots | FXCM | Questrade | |
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| 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 (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 | 86 | |
| Winner | check_circle | ||
| Review | FXCM Review | Questrade Review |
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