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 |
IC Markets tends to be the cheaper choice for active forex traders, while Questrade offers simpler, spread-only pricing that often ends up costing more per trade. IC Markets is rated 5/5 stars for Commissions & Fees and ranks #5 of 63 brokers, whereas Questrade is rated 3.5/5 stars and ranks #33 of 63. In short: if minimizing trading costs is your priority, IC Markets generally wins; if you prefer a straightforward, no-commission setup and already trade with Questrade, be mindful of its wider typical spreads and extra CFD fees.
IC Markets offers three account types: a commission-free Standard account (spread-only) and two commission-based Raw Spread accounts (cTrader or MetaTrader). On cTrader, the commission is $3.00 per side per 100,000 units ($6.00 round turn); on MT4/MT5, it’s $3.50 per side ($7.00 round turn). IC Markets lists an average EUR/USD spread of 0.02 pips (Aug 2022); adding commission brings the all-in cost to about 0.62 pips on cTrader (about 0.72 on MetaTrader). The Standard account averages about 0.62 pips with no commission. Discounts are available for very active traders (100+ standard lots/month). Pricing can vary by platform, account, and IC Markets’ entity (EU, Australia, Seychelles). IC Markets also earned Best in Class honors for Commissions & Fees in 2024.
Questrade Global is a spread broker, so costs are built into the price you see. While spreads can be as low as 0.8 pips in calm markets, typical averages on major pairs often land closer to 2.1–2.5 pips—roughly $20 per trade on a one-standard-lot forex position at 2 pips. For CFDs, Questrade adds a $9.95 USD trading fee per unit when you open and close a position (plus a small spread and overnight financing), which can make costs add up quickly, especially on single-share CFD trades. If you trade infrequently and value simplicity, Questrade’s pricing may suit you; if you trade often and want the lowest all-in costs, IC Markets is usually more price-competitive.
| 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.
IC Markets vs Questrade: Both let you trade forex as CFDs or spot. IC Markets lists 3,583 tradeable symbols, far more than Questrade’s 675, while Questrade leads in currency variety with 110 forex pairs vs IC Markets’ 61. Only IC Markets offers international exchange-traded shares (not CFDs), copy trading, and cryptocurrency CFDs. Neither broker provides real, delivered crypto, and neither offers real U.S. exchange-listed stocks.
According to ForexBrokers.com, IC Markets earns 4.5/5 stars for Range of Investments (ranked 22 of 63), while Questrade scores 5/5 (ranked 12 of 63). Choose IC Markets if you want a larger overall catalog, international shares, copy trading, and crypto CFDs. Choose Questrade if your priority is a higher-rated product lineup and access to more forex pairs.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 675 |
| Forex Pairs (Total) | 61 | 110 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | Yes | 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 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 offer mobile trading apps for iPhone and Android, complete with price alerts, trendline drawing tools, and auto‑saved chart annotations. In third‑party testing by ForexBrokers.com, IC Markets earned 4 stars and ranked #22 out of 63 brokers for Mobile Trading Apps, while Questrade received 3.5 stars and ranked #28.
Feature-wise, Questrade stands out for convenience thanks to watchlist syncing between the mobile app and the web platform, whereas IC Markets does not sync watchlists. For charting, Questrade provides 64 technical studies versus 30 with IC Markets. Both apps let you draw trendlines and keep your drawings saved. Traders prioritizing a higher editorial rating may favor IC Markets, while those who want more indicators and seamless watchlist sync may lean toward Questrade.
| 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 edges out Questrade for market research. IC Markets delivers daily market commentary, real-time forex news from top-tier sources, a trader sentiment tool, and a full economic calendar. Both brokers offer technical and fundamental research from Autochartist and Trading Central, while neither includes Acuity Trading tools. Questrade counters with TipRanks research (which IC Markets lacks), but it does not provide daily commentary, premium forex news, sentiment data, or an in-platform economic calendar.
Ratings reflect these differences: IC Markets earns 4 stars and ranks 21st out of 63 brokers for Research at ForexBrokers.com, while Questrade earns 3.5 stars and ranks 34th. If you want steady news flow, daily insights, and sentiment gauges, IC Markets is the stronger pick; if TipRanks stock analysis is a priority, Questrade may fit better.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | Yes | 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 seeking clear trading education, IC Markets outshines Questrade. IC Markets hosts ongoing client webinars (at least one per month) and offers at least 10 beginner-friendly videos, plus 10+ advanced videos for when you’re ready to level up. That depth helps explain its 4-star Education rating and #16 ranking out of 63 brokers by ForexBrokers.com.
Questrade, by contrast, does not run monthly educational webinars and doesn’t meet the “10+ videos” mark for either beginner or advanced topics. While it still provides learning materials, its 3.5-star Education rating and #28 ranking suggest a lighter path for new traders. If you want frequent live sessions and a larger video library to start strong, IC Markets is the better fit; if you prefer a lighter, self-guided approach within Questrade’s platform, its resources may suffice.
| 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
|
|---|---|---|
| Overall Rating |
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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) | 3583 | 675 | |
| Forex Pairs (Total) | 61 | 110 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | Yes | 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 | No | 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) | 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 | No | |
| Autochartist | Yes | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | 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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