Written by ForexBrokers.com
In this head to head comparison of FxPro 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.
FxPro, founded in 2006, and Questrade, established in 2000, are two prominent online brokers, each with unique regulatory features. FxPro, unlike Questrade, operates as a bank and is not publicly traded. When it comes to regulatory safety, both hold two Tier-1 licenses, which are highly trusted according to ForexBrokers.com. Additionally, FxPro has one Tier-2 license, enhancing its regulatory standing, whereas Questrade has none.
In terms of trustworthiness, FxPro earns a commendable Trust Score of 93 out of 99 from ForexBrokers.com, placing it in the highly trusted category. In comparison, Questrade receives a Trust Score of 86, labeling it as trusted but slightly lower than FxPro. Both brokers are well-regarded in the industry, but FxPro's additional Tier-2 license and higher Trust Score give it an edge in terms of perceived security and reliability.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Year Founded | 2006 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
When comparing FxPro and Questrade in terms of commissions and fees, FxPro generally comes across as more expensive than the industry average. While it provides options like variable or fixed spreads on its MT4 platform, the pricing is not as competitive as some peers like Pepperstone or IC Markets, who also offer full MetaTrader and cTrader suites. Despite this, FxPro’s cTrader platform offers competitive commission-based pricing with an effective EUR/USD spread of about 1.27 pips, a combination of an average spread of 0.37 pips and a commission-equivalent of 0.9 pips. In contrast, the spreads for EUR/USD on its MT4 and MT5 platforms are 1.58 and 1.51 pips for market executions, respectively. For fixed pricing, it only offers market execution on MT5 without any fixed-spread options.
Questrade's target spread for EUR/USD is notably higher at 1.9 pips. While this spread is steep compared to industry averages, it simplifies trading with its absence of commission fees on forex trades. However, this comes at the expense of higher spreads, making it less appealing for traders focused on minimizing cost. Both brokers offer programs for active traders; FxPro's Active Trader program can provide discounts of up to 30%, which is a substantial benefit, although it still trails behind its top competitors. Questrade does not offer a similar program aimed specifically at reducing costs for active forex traders.
In ForexBrokers.com's ranking of commissions and fees among 63 brokers, FxPro is ranked at #32, receiving four out of five stars for its pricing options. Questrade, on the other hand, is ranked lower at #58, with a three-star rating. This indicates that while both brokers offer unique features, FxPro tends to edge out in terms of overall cost-effectiveness and market competitiveness within the forex trading landscape.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Minimum Deposit | $100 | $250 |
| Average Spread EUR/USD - Standard | 1.51 | N/A |
| All-in Cost EUR/USD - Active | 1.27 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments available with FxPro and Questrade, both online brokers offer a variety of options tailored to different investor needs. FxPro provides access to 2,249 tradeable symbols, including 70 forex pairs, catering well to currency traders. They also allow investments in international exchange-traded securities, but not those on U.S. exchanges. Traders seeking innovative tools can benefit from FxPro's copy trading service and explore cryptocurrency derivatives. Although they don't support the buying of actual cryptocurrencies, FxPro is still a compelling choice for those who value a wide selection of CFD-based forex instruments.
Questrade offers a more expansive selection for investors interested in both forex and traditional exchange-traded securities. With 641 tradeable symbols, including 110 forex pairs, Questrade supports trading in both U.S. and international markets, allowing users to invest directly in companies like Apple on the NASDAQ. While they do not offer a copy trading feature, Questrade does provide opportunities to invest in cryptocurrency derivatives. Their extensive range of investment options and platforms has earned them a higher ranking and a five-star rating in the Range of Investments category by ForexBrokers.com, distinguishing them as a leading choice for diverse trading needs.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 2249 | 641 |
| Forex Pairs (Total) | 70 | 110 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
FxPro and Questrade both provide a range of trading platforms and tools, making them attractive choices for traders. Both brokers offer a customizable trading experience with proprietary platforms designed in-house, alongside options for web-based and Windows desktop applications. Traders interested in practicing their skills can utilize free virtual demo accounts from either broker. A noticeable difference, however, emerges with copy trading services: FxPro offers copy trading, an appealing feature for those who want to mirror more experienced traders, while Questrade does not. Among the popular trading platforms, FxPro supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are highly regarded in the trading community, whereas Questrade doesn't offer these options.
When it comes to charting tools, FxPro provides 25 drawing tools, compared to Questrade's 20, allowing for detailed market analysis. Both brokers enable trading directly from stock charts, enhancing ease of use during fast-paced market activity. However, in managing watch lists, Questrade stands out by offering 52 columns for field customization, significantly more than the six offered by FxPro. Despite these differences, both brokers garner a solid four-star rating for their trading platforms and tools, indicating a reliable quality of service. According to ForexBrokers.com rankings, FxPro holds a stronger position at #17, while Questrade is ranked #34 out of 63 brokers, highlighting FxPro’s slight edge in this competitive landscape.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 53 | 64 |
| Charting - Drawing Tools (Total) | 25 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FxPro and Questrade offer impressive mobile trading applications compatible with iPhone and Android devices, allowing traders to monitor and execute trades on the go. Both apps include essential features like stock and forex price alerts, symbol syncing, and the ability to manage watchlists with real-time quotes, ensuring a seamless trading experience across platforms. Regarding technical studies available for charting, FxPro takes a slight lead with 65 studies, compared to Questrade's 64. Both platforms allow users to draw trendlines and view charts in multiple timeframes, from daily to intraday, with autosave options for chart drawings.
When it comes to ratings and rankings, FxPro edges ahead, earning a 4.5-star rating and securing the 15th spot out of 63 brokers for mobile trading apps. In comparison, Questrade is rated 4 stars and ranked 34th. These metrics highlight FxPro's slight advantage in the mobile trading app arena, providing users with a highly-rated and feature-rich platform for their trading needs.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 65 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FxPro and Questrade both stand out in the market for their research offerings, though they cater to different needs. FxPro is notable for its daily market commentary and forex news sourced from top-tier outlets like Bloomberg and Reuters, giving traders valuable daily insights. With tools from Trading Central and sentiment analysis features, FxPro provides traders with diverse viewpoints for informed decision-making. They also include an economic calendar to keep users updated on worldwide financial events. These comprehensive features contribute to FxPro's strong research rating of 4 stars and a solid ranking of 26th out of 63 brokers.
Questrade, while lacking daily commentary and high-end forex news providers, offers unique resources like Autochartist and TipRanks, which are popular among traders keen on technical analysis and company performance insights. They also include an economic calendar, but do not feature sentiment-based tools, which might be a consideration for those prioritizing market sentiment in their strategies. Despite these limitations, Questrade maintains a respectable 3.5-star research rating and a 51st place ranking, demonstrating a balanced appeal for both beginner and experienced traders who value technical analysis tools.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, FxPro and Questrade both offer foundational support, but there are some differences that may influence your choice. Both brokers provide a variety of educational materials, such as articles, videos, and archived webinars, covering forex and CFDs, contributing to a solid starting point for beginners. Additionally, each broker hosts a searchable archive of previously recorded webinars, enabling learners to revisit past teachings at their convenience. Notably, they both cater to beginner traders with a collection of over 10 educational videos, making the early stages of trading more accessible.
However, where FxPro holds an edge is in its educational breadth, offering an investor dictionary with definitions for over 50 investing terms, a feature that Questrade lacks. While neither broker provides regular monthly educational webinars or advanced-level videos in abundance for seasoned traders, FxPro's overall effort in educational offerings earns it a higher rating of 4 out of 5 stars compared to Questrade's 3.5 stars. This distinction is further highlighted by their rankings on ForexBrokers.com, where FxPro is placed at #18 among 63 brokers for educational resources, while Questrade stands at #36. These factors make FxPro a slightly more comprehensive choice for beginner traders eager to dive into the world of forex and CFD trading.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FxPro is better than Questrade. FxPro finished with an overall rank of #21, while Questrade finished with an overall rank of #32.
FxPro competes among the top MetaTrader brokers, featuring multiple account options and various execution methods. It provides its own proprietary FxPro Edge app – though it isn’t yet available for mobile – alongside access to the BnkPro app (which isn’t yet available in all regions).
| Feature |
FxPro
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Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 86 |
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FxPro and Questrade both do not allow the purchase of actual delivered cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives, making them comparable options for investors interested in cryptocurrency trading without the ownership of physical coins.
FxPro offers a wider variety of deposit and withdrawal options including ACH, SEPA transfers, PayPal, and Skrill compared to Questrade, which does not support these options but both brokers provide Visa, Mastercard, and bank wire facilities.
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 | FxPro | Questrade | |
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| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | FxPro Review | Questrade Review |
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| Regulation | FxPro | Questrade | |
|---|---|---|---|
| Trust Score | 93 | 86 | |
| Year Founded | 2006 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | FxPro | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | 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) | FxPro | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FxPro | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 2249 | 641 | |
| Forex Pairs (Total) | 70 | 110 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | FxPro | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.51 | N/A | |
| All-in Cost EUR/USD - Active | 1.27 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | FxPro | Questrade | |
|---|---|---|---|
| Minimum Deposit | $100 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FxPro | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | FxPro | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 52 | |
| Charting - Indicators / Studies (Total) | 53 | 64 | |
| Charting - Drawing Tools (Total) | 25 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FxPro | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 65 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FxPro | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FxPro | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FxPro | Questrade | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FxPro Review | Questrade Review |
| Overall | FxPro | Questrade | |
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| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | FxPro Review | Questrade Review |
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