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 and Questrade are two notable online brokers with distinct regulatory profiles. Established in 2006, FxPro boasts a high Trust Score of 93 out of 99 according to ForexBrokers.com, suggesting it is highly trusted. With 2 Tier-1 licenses and 1 Tier-2 license, FxPro operates under stringent regulations. Additionally, it functions as a bank, which may provide further financial stability for clients. However, information on whether FxPro is publicly traded is not available.
On the other hand, Questrade, which began operations in 2000, carries a respectable Trust Score of 86, placing it in the trusted category. It has secured 2 Tier-1 licenses, indicative of strong regulatory oversight, but does not hold any Tier-2 licenses. Unlike FxPro, Questrade is not a bank, and there is no data regarding its status as a publicly traded entity. Both brokers are well-regulated, offering different advantages to consider based on individual trader needs.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Year Founded | 2006 | 2000 |
| Publicly Traded (Listed) | ||
| Bank | Yes | |
| 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 | |
| ACH or SEPA Transfers | Yes | |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FxPro and Questrade both offer a diverse selection of investment options for traders, but vary significantly in their offerings. FxPro provides access to 2,249 tradeable symbols, including 70 forex pairs available for trading as CFDs or spot contracts. It also allows investors to delve into international exchange-traded securities, such as those listed on the London Stock Exchange. Additionally, FxPro supports cryptocurrency derivatives but does not offer actual cryptocurrency trading. One of the unique features of FxPro is its provision of copy trading, catering to those interested in mimicking the trades of more experienced investors.
Questrade, on the other hand, offers fewer tradeable symbols, totaling 641, though its selection includes a larger variety of 110 forex pairs. Additionally, Questrade supports the trading of both U.S. and international exchange-traded securities, enabling clients to invest in well-known companies like Apple and Vodafone. While unlike FxPro, it does not offer copy trading, Questrade does provide trading in cryptocurrency derivatives, similar to FxPro. Overall, Questrade receives a higher appraisal for its range of investments, with a 5-star rating and a #11 ranking, compared to FxPro's 4-star rating and #28 ranking.
| 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) | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | |
| Cryptocurrency (Physical) | ||
| 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 offer traders the option to engage in simulated trading through free virtual demo accounts, which is great for beginners who want to practice risk-free. When it comes to proprietary trading platforms, both brokers have developed their own in-house systems. Additionally, they provide Windows-based desktop platforms, as well as web-based options for those who prefer trading directly through their browser. While both brokers support direct trading from stock charts, FxPro extends its offering with the inclusion of MetaTrader 4 (MT4) and MetaTrader 5 (MT5), allowing access to these popular platforms. In contrast, Questrade supports DupliTrade, which is helpful for those interested in exploring various trading strategies.
In terms of charting tools, FxPro offers an impressive array of 25 drawing tools, slightly surpassing Questrade's 20. However, Questrade takes the lead regarding watch lists, offering an extensive selection of 52 columns compared to FxPro's six. Although neither broker supports ZuluTrade, FxPro provides the additional benefit of copy trading. Both brokers are well-regarded for their trading platforms and tools, each earning a four-star rating. However, FxPro is ranked slightly higher at #17 compared to Questrade's #34 out of 63 brokers reviewed by ForexBrokers.com, potentially making it a preferred choice for traders focused on platform capabilities.
| 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 | |
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | Yes | |
| DupliTrade | Yes | |
| ZuluTrade | ||
| 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.
When comparing the market research offerings of FxPro and Questrade, several differences emerge that can help traders decide which platform suits their needs. FxPro provides daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters, giving traders valuable insights into market trends. Although Questrade lacks daily commentary and premier forex news, it compensates with tools from Autochartist, enhancing its technical analysis capabilities. Both brokers offer research tools from Trading Central, but FxPro adds an edge with its sentiment-based trading tool for those interested in gauging market emotions.
For additional resources, Questrade benefits from market research through TipRanks, while neither platform offers tools from Acuity Trading. Both brokers include an economic calendar to keep users updated on global news events. Overall, FxPro is rated higher for research with four stars compared to Questrade's three and a half stars, with FxPro ranking 26th out of 63 brokers according to ForexBrokers.com, significantly ahead of Questrade's 51st place. These rankings reflect FxPro's comprehensive research offerings, making it a strong choice for traders who prioritize detailed market insights and analysis tools.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | |
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both FxPro and Questrade provide a solid foundation, though there are some distinctions. FxPro shines by offering over ten beginner-focused videos that delve into trading topics, ensuring newcomers have ample visual guidance. They also provide a handy investor dictionary with more than 50 investing terms, which can be incredibly useful for those starting out. Questrade, while also offering a substantial collection of beginner videos, lags in providing this comprehensive dictionary. Both platforms, however, offer a rich collection of educational content like articles and videos, along with archives of past webinars that users can access anytime, enhancing their learning journey.
FxPro slightly edges out Questrade in educational offerings, achieving a 4-star rating compared to Questrade's 3.5 stars. Ranked #18 by ForexBrokers.com for education, FxPro stands as a strong choice, particularly for those seeking more structured definitions and terminology guides. Questrade, ranked #36 in the same category, still presents competitive resources but lacks the breadth of tools and definitions available with FxPro. Both platforms are commendable for their commitment to empowering new traders with essential knowledge in forex and CFDs, though the differences in their offerings might sway beginners depending on their personal learning preferences.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | ||
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | ||
| Investor Dictionary (Glossary) | Yes |
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
|
Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 86 |
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While both FxPro and Questrade provide options for buying cryptocurrency derivatives, neither platform offers the ability to purchase actual delivered cryptocurrency.
When comparing online brokers FxPro and Questrade in terms of deposit and withdrawal options, FxPro offers more flexibility with ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, whereas Questrade provides Visa or Mastercard and bank wire options.
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 |
| Broker Screenshots | FxPro | Questrade | |
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| Regulation | FxPro | Questrade | |
|---|---|---|---|
| Trust Score | 93 | 86 | |
| Year Founded | 2006 | 2000 | |
| Publicly Traded (Listed) | |||
| Bank | Yes | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| 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) | |||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | |||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes |
| Tier-2 Licenses (Trusted) | FxPro | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA/Central Bank Authorised) | |||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| 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) | Yes | ||
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| Cryptocurrency (Physical) | |||
| 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 | ||
| Inactivity Fee | Yes | ||
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes |
| Funding | FxPro | Questrade | |
|---|---|---|---|
| Minimum Deposit | $100 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes |
| Trading Platforms | FxPro | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | Yes | ||
| cTrader | Yes | ||
| DupliTrade | Yes | ||
| ZuluTrade |
| 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 | ||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | ||
| Economic Calendar | Yes | Yes |
| Education | FxPro | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | |||
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | |||
| Investor Dictionary (Glossary) | Yes |
| 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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