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.
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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 trading costs, and the difference matters most if you trade forex often. FXCM is rated 4.5 out of 5 stars and ranks #17 out of 36 brokers for commissions and fees. Its forex pricing is a bit above the industry average overall, but its commission-based accounts can be fairly competitive, with May 2024 average EUR/USD spreads around 0.28 pips before commissions and about 0.78 pips on some standard accounts. Active traders may also qualify for rebate discounts, which can lower costs further if they trade enough volume.
Questrade is rated 3.5 out of 5 stars and ranks #35 out of 36 brokers for commissions and fees. It uses a spread-based model, so the cost is built into the price instead of being shown as a separate commission. While Questrade says spreads can be as low as 0.8 pips in normal conditions, real-world averages on major forex pairs were closer to 2.1 to 2.5 pips, which can make trading more expensive than with lower-cost competitors. Its CFD pricing can also add up quickly because of the extra $9.95 USD fee per trade, plus overnight financing charges.
Overall, FXCM is the better choice for traders looking for lower forex trading costs, especially if they qualify for active trader pricing. Questrade is simpler in structure, but its wider spreads and added CFD fees can lead to higher total costs for many users.
| Feature |
FXCM
|
Questrade
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average spread (EUR/USD) - Spread-only account | 0.9 | 0.8 or higher |
| All-in Cost EUR/USD - Raw spread account | 0.8 | N/A |
| Non-wire bank transfer (Deposit/Withdraw) | 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 strong set of platform choices, including free demo accounts for paper trading, their own in-house platforms, Windows desktop downloads, and web-based trading platforms. Both also let users trade directly from a chart, which can make placing orders quicker and more convenient. In ForexBrokers.com’s Trading Platforms and Tools category, FXCM scores higher overall, earning 5 out of 5 stars and ranking #4 out of 36 brokers, while Questrade receives 4 out of 5 stars and ranks #30.
Where FXCM stands out is in its extra trading tools. It offers copy trading and MetaTrader 4 (MT4), which may appeal to traders who want more ways to follow strategies or use a familiar third-party platform. Questrade does not support copy trading or MT4, and neither broker offers MetaTrader 5 (MT5). For traders comparing FXCM vs Questrade platforms, FXCM provides more built-in flexibility, while Questrade still covers the key basics for everyday trading.
| 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 make it easy to trade on the go with iPhone and Android apps, plus helpful features like price alerts, watchlist syncing, trendline drawing, and auto-saving chart drawings. For mobile charting, Questrade offers slightly more technical studies than FXCM, with 64 compared with 59, which may appeal to traders who want a few extra tools for analysis.
When it comes to overall mobile app performance, FXCM has the edge. It is rated 4.5 out of 5 stars for Mobile Trading Apps and is ranked #16 out of 36 brokers by ForexBrokers.com, while Questrade is rated 3.5 out of 5 stars and ranked #30. If mobile trading app quality is a priority, FXCM comes out ahead, though both brokers offer many of the core features most traders need.
| 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 a clear edge over Questrade. FXCM offers daily market commentary, forex news from major sources like Bloomberg, Reuters, and Dow Jones, a sentiment tool that shows long and short positioning, and an economic calendar with upcoming global events. It also includes Trading Central and TipRanks, giving traders more ways to scan the market and spot opportunities. Questrade, by comparison, does not provide daily commentary, top-tier forex news, a sentiment tool, or an economic calendar, though it does include Autochartist, Trading Central, and TipRanks.
That difference shows up in ratings and rankings as well. FXCM is rated 4.5 out of 5 for research and ranks #11 out of 36 brokers in the ForexBrokers.com research category, while Questrade is rated 3.5 out of 5 and ranks #36. For traders who want more frequent updates and more built-in market insight, FXCM offers the stronger research package overall.
| 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 learning, FXCM gives new traders more to work with than Questrade. FXCM offers forex and CFD education with at least 10 learning pieces, plus monthly educational webinars and plenty of video content for both beginners and more experienced traders. It is rated 4.5 out of 5 stars for Education and ranks #13 out of 36 brokers, which points to a stronger overall learning setup for people who want to build their trading knowledge step by step.
Questrade also provides some educational support, but it falls behind FXCM in key areas for beginners. It does not offer monthly educational webinars, and it does not meet the same level of video coverage for beginner or advanced trading topics. With a 3.5 out of 5 Education rating and a #30 ranking out of 36 brokers, Questrade may suit casual learners, but FXCM is the better choice for traders looking for more forex- and CFD-focused education.
| 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 |
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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) - Spread-only account | 0.9 | 0.8 or higher | |
| All-in Cost EUR/USD - Raw spread account | 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 (Deposit/Withdraw) | 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 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 | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| 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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