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 comes out ahead of Questrade for most active forex traders. IC Markets offers a choice between a commission-free Standard account and low-cost Raw Spread accounts, with tight pricing that can rival top low-fee brokers. Its EUR/USD costs can be very low, and the broker earned a 5-star rating and a #4 ranking out of 36 brokers for Commissions and Fees from ForexBrokers.com.
Questrade Global uses a spread-based model, so the cost is built into the buy and sell price rather than charged as a separate commission. While Questrade says spreads can start as low as 0.8 pips, real-world pricing on major pairs was found to be closer to 2.1 to 2.5 pips, which can make trades more expensive. For CFDs, Questrade also adds a $9.95 USD fee per unit, which can raise the total cost quickly. It received a 3.5-star rating and ranked #35 out of 36 brokers in the same category.
In simple terms, IC Markets is usually the better pick if low trading costs matter most, especially for forex. Questrade may still appeal to some traders, but its wider spreads and added CFD fees make it less competitive on price. If your goal is to keep commissions and fees as low as possible, IC Markets has the clear edge.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average spread (EUR/USD) - Spread-only account | 0.8 | 0.8 or higher |
| All-in Cost EUR/USD - Raw spread account | 0.72 | N/A |
| Non-wire bank transfer (Deposit/Withdraw) | 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.
When comparing IC Markets vs Questrade for trading platforms and tools, both brokers give traders useful ways to place orders and review the markets. Each offers a free demo account for paper trading, a Windows desktop platform, a web-based platform, and the ability to trade directly from a chart. They also both earn 4 out of 5 stars for Trading Platforms and Tools, showing that each has a solid setup for everyday trading needs.
Where IC Markets stands out is variety. It offers copy trading plus both MetaTrader 4 and MetaTrader 5, while Questrade does not offer copy trading or MetaTrader. On the other hand, Questrade does have its own in-house platform, which IC Markets does not. In ForexBrokers.com’s Trading Platforms and Tools ranking, IC Markets places #17 out of 36 brokers, ahead of Questrade at #30, making IC Markets the stronger pick for traders who want more platform options.
| 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 make it easy to trade from a phone, since each broker offers iPhone and Android apps plus stock or forex price alerts. Both mobile apps also let users draw trendlines on charts and automatically save those drawings. Where IC Markets falls behind is watchlist syncing, since changes made in the app do not carry over to the online account, while Questrade does support watchlist symbol syncing across devices.
For charting tools, Questrade has the edge with 64 technical studies in its mobile app compared with 32 at IC Markets. That stronger feature set helps explain Questrade’s mobile app advantage in some areas, even though IC Markets earns a better overall Mobile Trading Apps score at 4 stars versus Questrade’s 3.5 stars. In ForexBrokers.com’s ranking of 36 brokers, IC Markets places higher at #22, while Questrade comes in at #30.
| 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 | 32 | 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 for traders who want more built-in market insight. IC Markets offers daily market commentary, forex news from top names such as Bloomberg and Reuters, a sentiment tool showing long and short positioning, and an economic calendar with upcoming global events. It also includes Trading Central and TipRanks, though it does not offer Autochartist or Acuity Trading. By comparison, Questrade does not provide daily commentary, top-tier forex news, a sentiment tool, or an economic calendar, but it does include Autochartist, Trading Central, and TipRanks.
These differences are reflected in their research scores and rankings. IC Markets is rated 4 out of 5 stars for research and ranks #21 out of 36 brokers on ForexBrokers.com, while Questrade is rated 3.5 out of 5 stars and ranks #36 out of 36. For traders looking for more frequent updates and a wider range of research tools, IC Markets offers the stronger market research experience overall.
| 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 the basics, IC Markets offers more educational support than Questrade. IC Markets provides forex and CFD learning materials, online client webinars at least once a month, and at least 10 beginner-friendly videos, along with 10 or more advanced videos for traders who want to keep learning. It is also rated 4 out of 5 stars for education and ranks #16 out of 36 brokers for the Education category on ForexBrokers.com.
Questrade, while still offering some educational content, falls behind IC Markets in several key areas for new traders. It does not appear to provide forex or CFD education at the same level, nor does it offer monthly webinars or at least 10 beginner and 10 advanced trading videos. Questrade is rated 3.5 out of 5 stars for education and ranks #30 out of 36, making IC Markets the stronger choice for beginners who want more learning tools and live guidance.
| 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
|
Questrade
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 83 | 85 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | IC Markets | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Questrade Review |
| Broker Screenshots | IC Markets | Questrade | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| 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) - Spread-only account | 0.8 | 0.8 or higher | |
| All-in Cost EUR/USD - Raw spread account | 0.72 | 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 (Deposit/Withdraw) | 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 Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 32 | 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 | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | IC Markets Review | Questrade Review |
| Overall | IC Markets | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Questrade Review |
IG
FOREX.com
CMC Markets
XTB
eToro
Capital.com
AvaTrade
XM
Pepperstone
FP Markets
Tickmill
HFM Markets