Written by ForexBrokers.com
In this head to head comparison of HFM 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.
Comparing online brokers HFM and Questrade: Questrade (founded 2000) is the older firm, while HFM started in 2010. Neither company is publicly traded or operates as a bank. Both earn a ForexBrokers.com Trust Score of 85/99, which falls in the “trusted” 80–89 range (90–99 highly trusted; 70–79 average risk; 60–69 high risk; below 59 not trusted).
Regulation and licenses show key differences. HFM holds 2 Tier-1 licenses (viewed as highly trusted by ForexBrokers.com) and 3 Tier-2 licenses (trusted), giving it a wider regulatory footprint across top and mid-tier authorities. Questrade holds 1 Tier-1 license and no Tier-2 licenses. While both score the same on trust, HFM carries more licenses, whereas Questrade has a leaner setup.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Year Founded | 2010 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
HFM’s commissions and fees sit slightly above the industry average. For forex, the broker lists a typical 1.2-pip spread on its Standard account (no date range provided, so the true average may be wider). Its Zero account advertises an effective 0.7-pip spread after commission, though this isn’t an average either. Questrade Global uses a spread-only model, building costs into the price you see. While Questrade says spreads can be as low as 0.8 pips in normal conditions, observed averages on major pairs were closer to 2.1–2.5 pips, and a typical 2-pip spread on a standard lot works out to about $20 per trade. In short, HFM’s stated forex pricing can be tighter on paper, but real trading costs will vary at both brokers.
For CFDs, Questrade adds a $9.95 USD trading fee per unit on top of a small spread. For example, buying one Tesla CFD unit would involve about a $0.05 spread plus $19.95 USD in fees to open and close the trade, or roughly 5.813% of the position value—before overnight financing (about $2.23, or 0.65% for one month in this example). That means you’d need a return of over 6% just to break even. HFM’s CFD costs weren’t detailed here, so check product-specific pricing directly on its site if CFDs are your focus.
Ratings and rankings for commissions and fees: HFM earns 4 out of 5 stars and ranks #28 of 63 brokers at ForexBrokers.com. Questrade earns 3.5 out of 5 stars and ranks #33 of 63. If you want potentially lower forex spreads and don’t mind a commission-based option, HFM may appeal; if you prefer spread-only pricing, Questrade is simpler, but be mindful of its wider typical spreads and per-unit CFD fees.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.8 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 1.1 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing HFM and Questrade on range of investments, Questrade lists more to trade overall (675 symbols vs. HFM’s 500) and more forex pairs (110 vs. 102). Both let you trade forex as spot or CFDs. In independent reviews, HFM earns 4 out of 5 stars and ranks 28th out of 63 brokers for range of investments, while Questrade scores 5 stars and ranks 12th, signaling broader coverage.
Neither broker lets you buy actual exchange-traded stocks on U.S. or international exchanges (so no direct Apple or Vodafone shares). For extra features, HFM supports copy trading, which Questrade does not. Crypto access also differs: neither offers actual coins, but HFM provides cryptocurrency CFDs while Questrade does not. Choose Questrade if you want the widest symbol and forex pair list; pick HFM if copy trading and crypto CFDs matter to you.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 675 |
| Forex Pairs (Total) | 102 | 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.
HFM and Questrade both check key boxes for trading platforms and tools. Each broker offers a free demo (paper) account, an in-house proprietary platform, a Windows desktop download, and a web-based platform. You can place trades directly from charts with either broker, and both provide access to technical indicators and watch lists to help track markets.
The biggest platform differences favor HFM if you want more choice: HFM supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and also offers copy trading, while Questrade does not support MetaTrader and does not offer copy trading. For overall platform and tools quality, both earn 4 out of 5 stars. In ForexBrokers.com’s rankings, Questrade sits at #28 out of 63 brokers, while HFM is #33, which may matter if third‑party evaluations are part of your decision-making.
| Feature |
HFM
|
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) | Yes | No |
| Charting - Indicators / Studies (Total) | 15 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
HFM and Questrade both deliver full-featured mobile trading apps for iPhone and Android. Each app supports stock and forex price alerts, charting with trendline tools, and auto-saving of drawings. The biggest feature gap is watchlist syncing: Questrade syncs watchlists between mobile and the web platform, while HFM does not. For charting depth, Questrade offers 64 technical studies compared with HFM’s 30.
In terms of evaluations, HFM earns a 4-star Mobile Trading Apps rating, while Questrade scores 3.5 stars. However, in ForexBrokers.com’s Mobile Trading Apps category, Questrade ranks 28th out of 63 brokers, edging out HFM at 32nd. Choose Questrade if synced watchlists and more indicators matter most; pick HFM if you prefer the slightly higher user rating.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
HFM vs Questrade market research comparison: HFM delivers daily market commentary and forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, while Questrade does not. Both brokers include Autochartist for trade ideas. Questrade counters with Trading Central research and TipRanks stock analytics, which HFM lacks. HFM also offers a sentiment tool showing the ratio of long and short positions, something Questrade does not provide. Neither broker includes tools from Acuity Trading.
HFM provides an economic calendar that tracks global events; Questrade does not. In third-party testing, HFM earned 4 stars for Research and ranked 18th out of 63 brokers at ForexBrokers.com, while Questrade scored 3.5 stars and ranked 34th. Choose HFM if you want daily insights, real-time news, sentiment data, and a handy calendar. Pick Questrade if Trading Central reports and TipRanks ratings are higher on your wish list.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | No | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
For beginners comparing HFM to Questrade on education, HFM stands out with ongoing support: it runs at least one client webinar each month and offers at least 10 beginner-friendly trading videos plus at least 10 advanced videos. That makes it easier to learn core concepts and then move into more complex forex and CFD topics. Questrade does not host monthly educational webinars and does not meet the 10-video thresholds for either beginner or advanced levels, so newcomers may find fewer structured lessons there.
When it comes to scores, HFM earns 4 out of 5 stars for Education, while Questrade scores 3.5 out of 5. Even so, ForexBrokers.com ranks Questrade slightly higher at #28 of 63 in the Education category, with HFM at #29 of 63. If you want scheduled webinars and a larger video catalog tailored to new traders, HFM is the clearer pick. If a marginally higher category rank matters more, Questrade is an option—just note the leaner lineup of beginner content and the lack of monthly webinars.
| Feature |
HFM
|
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 HFM is better than Questrade. HFM finished with an overall rank of #27, while Questrade finished with an overall rank of #29.
HFM (HF Markets) is a global broker best known for its MetaTrader offering, solid research tools, and proprietary copy trading platform, alongside a broad selection of forex pairs and CFDs.
| Feature |
HFM
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Questrade
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| Overall Rating |
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| Trust Score | 85 | 85 |
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Comparing online brokers HFM and Questrade for cryptocurrency trading: neither offers the purchase of actual (delivered) crypto, but HFM lets you trade cryptocurrency CFDs, whereas Questrade does not.
HFM vs Questrade deposit and withdrawal methods: neither supports ACH/SEPA or PayPal, both accept bank wire transfers, only HFM offers Skrill (Questrade does not), and Visa/Mastercard availability is 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 | HFM | Questrade | |
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| Trust Score | 85 | 85 | |
| Winner | check_circle | ||
| Review | HFM Review | Questrade Review |
| Broker Screenshots | HFM | Questrade | |
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| Regulation | HFM | Questrade | |
|---|---|---|---|
| Trust Score | 85 | 85 | |
| Year Founded | 2010 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | HFM | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | ||
| Canada (CIRO Authorised) | No | 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) | HFM | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | HFM | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 675 | |
| Forex Pairs (Total) | 102 | 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 | HFM | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.8 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 1.1 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | HFM | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | HFM | 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) | Yes | No | |
| cTrader | No | No |
| Trading Tools | HFM | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 15 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | HFM | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | HFM | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | HFM | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | HFM Review | Questrade Review |
| Overall | HFM | Questrade | |
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| Trust Score | 85 | 85 | |
| Winner | check_circle | ||
| Review | HFM Review | Questrade Review |
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