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 and Questrade are two reputable online brokers offering trading services with a focus on trust and security. IC Markets was founded in 2007, while Questrade has a longer history, established in 2000. Both brokers hold two Tier-1 licenses, which are highly regarded by ForexBrokers.com, reflecting their commitment to providing a secure trading environment. Neither IC Markets nor Questrade is listed on a stock exchange, nor do they operate as banks, suggesting a focused approach on trading services rather than traditional banking operations.
In terms of trust scores, IC Markets achieves a rating of 84 out of 99, indicating a trusted status, while Questrade scores slightly higher at 86, reinforcing its credibility among online traders. Both brokers lack Tier-2 licenses, but with their Tier-1 credentials, they still manage to inspire confidence in their reliability. As such, both IC Markets and Questrade present trustworthy options for those seeking online trading platforms.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Year Founded | 2007 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
IC Markets is the clear low-cost pick for forex trading compared with Questrade. IC Markets earned 5/5 stars for Commissions & Fees and ranks #5 out of 63 brokers, while Questrade holds 3/5 stars and ranks #33 out of 63. On EUR/USD, IC Markets’ pricing is designed for tight all-in costs, whereas Questrade’s target spread of 1.9 pips is comparatively high versus the industry average.
IC Markets offers three account types: Standard (spread-only, no commission), Raw Spread on MetaTrader (MT4/MT5), and cTrader Raw. Commissions are $3.0 per side per 100,000 units on cTrader ($6 round turn) and $3.5 per side on MetaTrader ($7 round turn). With an average quoted spread of 0.02 pips on EUR/USD, the all-in cost is about 0.62 pips on cTrader (0.72 on MetaTrader). The Standard account averages about 0.62 pips with no commission. Pricing can vary by platform, account type, and the IC Markets entity you use (EU, Australia, or Seychelles). IC Markets’ small effective spreads, low minimum to access commission pricing, and discounts for high-volume traders helped it earn Best in Class honors for Commissions & Fees in 2024.
Questrade’s forex pricing is straightforward but pricier for active traders, with a target EUR/USD spread of 1.9 pips. That higher spread, compared with IC Markets’ lower all-in costs, is the key reason Questrade sits at 3/5 stars and #33/63 for Commissions & Fees, while IC Markets leads this matchup with 5/5 stars and #5/63.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Minimum Deposit | $200 | $250 |
| Average spread (EUR/USD) - Standard account | 0.62 | N/A |
| 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.
IC Markets vs Questrade: When it comes to the range of investments, IC Markets lists 3,583 tradeable symbols, while Questrade offers 641. IC Markets provides 61 forex pairs, and Questrade goes further with 110; both let you trade forex either as CFDs or spot contracts. For stocks, only Questrade lets you buy exchange‑traded U.S. shares like Apple, while both brokers offer exchange‑traded securities on international markets. Neither lets you buy actual crypto, but each offers cryptocurrency CFDs. IC Markets supports copy trading; Questrade does not.
On overall breadth, Questrade earns 5 stars and ranks #12 of 63 brokers for Range of Investments at ForexBrokers.com, while IC Markets scores 4.5 stars and ranks #22. Choose IC Markets if you want a larger overall symbol list and copy trading, or go with Questrade if you want access to U.S. and international stocks plus a wider selection of currency pairs.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 641 |
| Forex Pairs (Total) | 61 | 110 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
IC Markets and Questrade both make it easy to get started with a free demo for paper trading, and each offers a Windows desktop download and a web-based platform. IC Markets does not have its own in-house platform, but it supports MetaTrader 4 and MetaTrader 5, plus it lets you copy trade and place orders directly from charts. Questrade provides its own proprietary platform, also supports trading from charts, but does not offer copy trading and does not support MT4 or MT5.
Both brokers earn 4 out of 5 stars for Trading Platforms and Tools from ForexBrokers.com. In the same category, IC Markets ranks #17 out of 63 brokers, while Questrade ranks #28. If you want MetaTrader and copy trading, IC Markets is the clearer fit; if you prefer a broker-built platform experience, Questrade stands out. Either way, you can test drive features with a free demo before committing.
| 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) | 30 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and Questrade both deliver capable mobile trading apps for iPhone and Android, with price alerts, trendline drawing on charts, and auto‑saved annotations. Each earns a 4‑star Mobile Trading Apps rating. A key difference is watchlist syncing: Questrade syncs watchlists between the mobile app and your online account, while IC Markets does not.
For charting tools, Questrade offers 64 technical studies compared with 30 on IC Markets, giving more depth for analysis on the go. In ForexBrokers.com’s Mobile Trading Apps rankings out of 63 brokers, IC Markets sits at #22 and Questrade at #28. Choose Questrade if you want cross‑device watchlist syncing and a wider set of indicators; pick IC Markets if a higher category ranking matters more to you.
| 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.
IC Markets is stronger for in-platform market research: it offers daily market commentary, forex news from top-tier sources (e.g., Bloomberg/Reuters/Dow Jones), tools from Autochartist and Trading Central, a sentiment tool showing long/short positioning, and an economic calendar. Questrade does not provide daily market commentary and lacks a sentiment tool, but it does include TipRanks research along with Autochartist, Trading Central, and an economic calendar. Availability of top-tier forex news within Questrade’s platform isn’t specified.
For research quality, IC Markets is rated 4 out of 5 stars and ranks #21 of 63 brokers, while Questrade is rated 3.5 out of 5 stars and ranks #34 of 63. Choose IC Markets if you want frequent updates, forex news, and sentiment data in one place; pick Questrade if TipRanks-driven stock ideas are a priority.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing beginner trading education at IC Markets and Questrade, IC Markets offers a more interactive path thanks to online client webinars held at least once a month. Both brokers provide at least 10 beginner-friendly videos that explain trading topics in plain language, but Questrade does not host monthly webinars, which may matter if you prefer live instruction and Q&A.
For growing beyond the basics, IC Markets also delivers at least 10 advanced trading videos, while Questrade falls short on advanced video depth. These differences show up in third‑party reviews: IC Markets earns 4 stars and ranks 16th out of 63 brokers for Education at ForexBrokers.com, whereas Questrade scores 3.5 stars and ranks 28th. In short, IC Markets is better for beginners who want live sessions and a path into more advanced lessons, while Questrade suits self‑paced starters who don’t need webinars.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| 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 | 84 | 86 |
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IC Markets vs Questrade: neither broker lets you buy actual delivered cryptocurrency, but both support trading cryptocurrency CFDs.
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 | 84 | 86 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Questrade Review |
| Broker Screenshots | IC Markets | Questrade | |
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| Regulation | IC Markets | Questrade | |
|---|---|---|---|
| Trust Score | 84 | 86 | |
| 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 | 2 | |
| 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 SCA 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) | 3583 | 641 | |
| Forex Pairs (Total) | 61 | 110 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | IC Markets | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.62 | N/A | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | IC Markets | Questrade | |
|---|---|---|---|
| Minimum Deposit | $200 | $250 | |
| 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) | 30 | 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 | ||
| Autochartist | Yes | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| 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 | 84 | 86 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Questrade Review |
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