Written by ForexBrokers.com
In this head to head comparison of IC Markets 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.
IC Markets vs. Questrade: IC Markets was founded in 2007, while Questrade dates back to 2000. Both are private (not publicly traded) and are not banks. ForexBrokers.com rates IC Markets at 83/99 and Questrade at 85/99, placing both in the trusted range.
In terms of regulation, IC Markets holds two Tier-1 licenses and no Tier-2 licenses; Questrade holds one Tier-1 license and no Tier-2 licenses. Per ForexBrokers.com’s scale—90–99 highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted—both brokers land in the trusted category.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Year Founded | 2007 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
When it comes to commissions and fees, IC Markets is the clear lower-cost choice for most active traders. It offers three account types, including commission-free Standard pricing and low-cost Raw Spread accounts, with all-in EUR/USD costs starting around 0.62 pips on cTrader and about 0.72 pips on MetaTrader. IC Markets also gives price discounts to high-volume traders, and ForexBrokers.com rates it 5 stars and ranks it #5 out of 36 brokers in the Commissions & Fees category.
Questrade takes a different approach by building its trading costs into the spread rather than charging a separate commission on forex. While it says spreads can start at 0.8 pips, real-world pricing for major pairs was found to be closer to 2.1 to 2.5 pips, which can make trading noticeably more expensive. Its CFD pricing can also add up fast because of the extra $9.95 USD fee per unit, plus overnight financing costs. Questrade is rated 3.5 stars and ranked #34 out of 36 brokers for Commissions & Fees.
In simple terms, IC Markets is better for traders looking to keep trading costs low, especially on forex. Questrade may still appeal to some users, but its wider spreads and extra CFD fees make it much less competitive on price. If low commissions and tighter spreads matter most, IC Markets is the stronger pick.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average spread (EUR/USD) - Standard account | 0.62 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Non-wire bank transfer | No | 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 it comes to range of investments, IC Markets offers a much wider list of tradeable products overall, with 7,435 symbols compared with Questrade’s 675. IC Markets also gives traders access to 61 forex pairs, while Questrade lists 110 forex pairs. Both brokers support forex trading as CFDs or spot contracts, but neither offers direct trading in U.S. or international exchange-traded shares, and neither lets clients buy actual cryptocurrency.
There are also a few clear differences in the extra trading features. IC Markets offers copy trading and cryptocurrency CFDs, while Questrade does not offer either one. Even so, Questrade earns a slightly higher range-of-investments score, with 5 out of 5 stars and a #12 ranking out of 36 brokers, versus IC Markets’ 4.5 stars and #22 ranking. In short, IC Markets stands out for variety, while Questrade leads on forex pair count and overall rating.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 7435 | 675 |
| Forex Pairs (Total) | 61 | 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.
IC Markets and Questrade both give traders a choice of paper trading, Windows desktop software, and web-based platforms, so either broker can work well if you want to practice first or trade from different devices. Both also let you place trades directly from a chart, which is helpful for active traders who want a faster way to act on market moves. In independent ratings for trading platforms and tools, both brokers score 4 out of 5 stars, but IC Markets places higher overall in the category, ranking #17 out of 36 brokers compared with Questrade at #29.
The biggest difference is in platform selection. IC Markets offers MetaTrader 4, MetaTrader 5, and copy trading, giving it an edge for traders who want more third-party tools and social trading features. Questrade, on the other hand, offers a proprietary platform built in-house, while IC Markets does not. For traders comparing online brokers for platform choice and trading tools, IC Markets is the stronger pick for MT4, MT5, and copy trading, while Questrade stands out for having its own custom platform.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | 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) | 32 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and Questrade both offer mobile trading apps for iPhone and Android, along with price alerts, trendline drawing, and auto-saving chart drawings. That means either broker can work well for traders who want to monitor markets and manage trades on the go. IC Markets stands out with a stronger overall Mobile Trading Apps rating of 4 stars and a higher ForexBrokers.com ranking at #22 out of 36 brokers, compared with Questrade’s 3.5 stars and #29 ranking.
Where Questrade has the edge is watchlist syncing: symbols added or changed in the mobile app stay in sync with the online account, while IC Markets does not offer this feature. Questrade also provides more chart studies in its app, with 64 technical indicators versus 30 at IC Markets. In simple terms, IC Markets may appeal more to traders focused on overall app performance, while Questrade may be better for users who want smoother watchlist syncing and more charting tools.
| Feature |
IC Markets
|
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.
When it comes to market research, IC Markets has the edge over Questrade. IC Markets offers daily market commentary, forex news from top sources like Bloomberg, Reuters, and Dow Jones, a sentiment tool showing long and short positions, and an economic calendar with major global events. It also includes research from Trading Central and TipRanks, which can help traders spot trends and ideas more easily. IC Markets is rated 4 stars for Research and ranks #21 out of 36 brokers in this category.
Questrade also gives traders access to Trading Central, Autochartist, and TipRanks, so it still provides useful market research tools. However, it does not offer daily market commentary, top-tier forex news, sentiment data, or an economic calendar, which makes its research offering less complete overall. Questrade is rated 3.5 stars for Research and ranks #35 out of 36 brokers, placing it behind IC Markets for market research.
| Feature |
IC Markets
|
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.
For beginners looking to learn forex or CFD trading, IC Markets offers more educational support than Questrade. IC Markets provides at least 10 forex or CFD learning pieces, monthly client webinars, and both beginner and advanced video libraries with at least 10 videos each. Questrade does not meet those same marks for forex or CFD education, does not offer monthly educational webinars, and does not have 10 beginner or 10 advanced trading videos aimed at those audiences.
That gap shows up in outside ratings as well. IC Markets is rated 4 out of 5 stars for Education and ranks #16 out of 36 brokers in ForexBrokers.com’s Education category, while Questrade is rated 3.5 out of 5 stars and ranks #28. For new traders who want more lessons, videos, and live learning events, IC Markets is the stronger choice.
| Feature |
IC Markets
|
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 IC Markets is better than Questrade. IC Markets finished with an overall rank of #21, while Questrade finished with an overall rank of #29.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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Questrade
|
|---|---|---|
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| Trust Score | 83 | 85 |
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Neither IC Markets nor Questrade lets you buy actual (delivered) cryptocurrency, but IC Markets offers cryptocurrency CFDs while Questrade does not.
IC Markets vs. Questrade deposit and withdrawal comparison: neither supports ACH or SEPA transfers, both support bank wire transfers, IC Markets supports PayPal and Skrill while 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 | IC Markets | Questrade | |
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| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Questrade Review |
| Broker Screenshots | IC Markets | Questrade | |
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| Regulation | IC Markets | Questrade | |
|---|---|---|---|
| Trust Score | 83 | 85 | |
| Year Founded | 2007 | 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 | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| 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) | No | 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) | IC Markets | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | IC Markets | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 7435 | 675 | |
| Forex Pairs (Total) | 61 | 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 | IC Markets | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.62 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | IC Markets | Questrade | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | IC Markets | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | 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 | Yes | No |
| Trading Tools | IC Markets | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 32 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | 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 | IC Markets | 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 | IC Markets | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | IC Markets | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | IC Markets Review | Questrade Review |
| Overall | IC Markets | Questrade | |
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| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Questrade Review |
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