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 |
When it comes to commissions and fees, IC Markets is a clear low-cost choice compared to Questrade. IC Markets earns 5/5 stars and ranks #5 out of 63 brokers for pricing, while Questrade receives 3/5 stars and ranks #59/63. In simple terms, IC Markets’ all-in costs on popular forex pairs are among the most competitive, whereas Questrade’s quoted spreads tend to be higher than the industry average.
IC Markets offers three account types: Standard (spread-only) and two commission-based Raw Spread options on cTrader or MetaTrader (MT4/MT5). On cTrader, the commission is $3.00 per side per 100,000 units ($6 round turn), producing an all-in cost on EUR/USD of about 0.62 pips based on listed averages. On MetaTrader, it’s $3.50 per side ($7 round turn) for about 0.72 pips all-in, while the commission-free Standard account lists an average 0.62-pip spread. Pricing can vary by platform, account type, and the IC Markets entity (EU, Australia, Seychelles). With small effective spreads, a low minimum deposit for commission accounts, and volume discounts for 100+ lots per month, IC Markets was recognized Best in Class for Commissions & Fees in 2024.
By contrast, Questrade’s target spread of 1.9 pips on EUR/USD is steep versus the industry average, which can add up quickly for active forex traders. That higher baseline spread explains its lower pricing score (3/5 stars) and ranking (#59/63) relative to IC Markets.
| 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: both support forex trading, either as CFDs or spot contracts, and both let you trade crypto via CFDs (neither offers delivered crypto). IC Markets lists 3,583 tradeable symbols, giving multi-asset traders a very wide menu, while Questrade offers 641 symbols but leads in currency choice with 110 forex pairs versus IC Markets’ 61. If you care most about sheer instrument count, IC Markets stands out; if you want a larger selection of forex pairs, Questrade has the edge.
For stocks, Questrade lets you buy exchange-traded U.S. shares like Apple, and both brokers provide access to exchange-traded international shares. IC Markets also offers copy trading, which Questrade does not. Based on ForexBrokers.com ratings for Range of Investments, IC Markets scores 4.5/5 stars (ranked 26th of 63), while Questrade earns 5/5 stars (ranked 12th of 63). In short, Questrade is stronger for traditional share dealing and a larger set of forex pairs, whereas IC Markets suits traders seeking a larger overall list of instruments plus copy trading.
| 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 offer free demo (paper) trading, plus web and Windows desktop platforms. IC Markets does not have its own in-house platform; instead, it supports popular third‑party options like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which Questrade does not offer. Questrade provides a proprietary platform built by the broker. If you want copy trading, IC Markets has it while Questrade does not. Both brokers let you place trades directly from charts, which is handy for timing entries and exits.
For Trading Platforms and Tools, both brokers earn 4 out of 5 stars. However, in ForexBrokers.com’s rankings of 63 brokers, IC Markets sits higher at #16 compared with Questrade at #35. Both brokers include charting and watchlists, though the exact counts of technical indicators and watchlist fields weren’t specified.
| 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 full-featured mobile trading apps for iPhone and Android, complete with price alerts, trendline drawing tools, and auto-saved chart annotations. The key difference is watchlists: Questrade syncs symbols between the app and your online account, while IC Markets does not. For charting depth, Questrade provides 64 technical studies compared with 30 on IC Markets.
Both brokers earn 4 out of 5 stars for their mobile trading apps, but ForexBrokers.com ranks IC Markets higher (#22 of 63) than Questrade (#35 of 63). Choose Questrade if synced watchlists and a larger indicator library are priorities; pick IC Markets if you want a higher-ranked mobile experience and can live without watchlist syncing.
| 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 vs Questrade for market research: IC Markets takes the lead with a 4-star rating and a #23 ranking out of 63 brokers, while Questrade earns 3.5 stars and ranks #52. IC Markets provides daily market commentary, top-tier forex news (from sources like Bloomberg/Reuters/Dow Jones or similar), and a sentiment tool that shows the long/short ratio across instruments—useful for gauging crowd positioning. Questrade does not offer daily commentary and does not provide a sentiment tool, and its top-tier forex newsfeed is not specified. Questrade’s standout is TipRanks integration, which can help stock-focused investors.
Both brokers offer popular research add-ons—Autochartist and Trading Central—for technical and fundamental analysis, and each includes an economic calendar. Neither uses Acuity Trading’s tools. If you want frequent insights, live forex news, and sentiment data for trading decisions, IC Markets is the stronger pick. If you value TipRanks for equity research alongside standard tools, Questrade can fit the bill.
| 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.
IC Markets vs. Questrade for beginner education: both brokers provide at least 10 beginner-friendly trading videos, making it easy to learn the basics at your own pace. A key difference is live learning—IC Markets runs online client webinars at least once a month, while Questrade does not, which can matter if you value real-time guidance and the chance to ask questions.
If you plan to grow beyond the basics, IC Markets also offers at least 10 advanced videos for experienced traders, whereas Questrade doesn’t meet that threshold. These gaps show up in third-party evaluations: IC Markets earns 4 stars for Education and ranks 16th out of 63 brokers with ForexBrokers.com, compared with Questrade’s 3.5-star rating and 36th-place ranking.
| 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 #20, while Questrade finished with an overall rank of #32.
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 | 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 (SFC 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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