Written by ForexBrokers.com
In this head to head comparison of IG vs Questrade, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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IG, founded in 1974, and Questrade, which started in 2000, are two prominent names in the world of online brokerage. When it comes to public trading credentials, IG stands out as it is listed on a stock exchange, unlike Questrade. Additionally, IG also operates as a bank. This distinction is not shared by Questrade, giving IG a broader financial foundation and presence.
Both brokers possess licenses, but IG clearly leads with eight Tier-1 licenses and two Tier-2 licenses, while Questrade holds two Tier-1 licenses and no Tier-2 licenses. This contributes to IG achieving a perfect Trust Score of 99 from ForexBrokers.com, reflecting its high level of trust. Questrade, with a Trust Score of 86, is still regarded as trusted, though it has fewer top-tier licenses compared to IG.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Year Founded | 1974 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commission and fee structures of online brokers IG and Questrade, several distinctions arise. IG is highly rated, receiving a 5-star ranking for its commissions and fees, and stands at number 8 out of 63 brokers according to ForexBrokers.com. It offers versatile trading options through various accounts like the Forex Direct, providing competitive spreads. For instance, its main Forex Direct account sees spreads averaging at 0.62 pips, with an all-in cost of 0.82 pips when including a small per trade commission. IG also benefits active traders through its generous rebate program, offering up to 20% rebates on spreads for large volume clients.
IG's services expand with its CFD accounts, which offer active trader rebates and tiered discounts based on trading volume. During peak trading sessions, its average forex spreads are slightly below the industry average at 0.69 pips. For high-volume traders, IG's DMA account goes further by offering even more substantial discounts with commissions dropping as low as $10 per million with significant trading volume. This flexibility makes IG appealing to both retail and professional traders.
On the other hand, Questrade scores lower with a 3-star rating and ranks 58th out of 63 on ForexBrokers.com for commissions and fees. Questrade's spreads are notably higher, with its target spread on the EUR/USD at 1.9 pips, which is above the industry average. This makes it a less attractive option for traders focused on minimizing trading costs compared to IG's offerings. Overall, while both brokers have their strengths, IG stands out for its competitive pricing structure and favorable standing among trading professionals.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Minimum Deposit | £250.00 | $250 |
| Average Spread EUR/USD - Standard | 0.98 | N/A |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing IG and Questrade based on their range of investments, both platforms offer a comprehensive array of options for investors. IG boasts an impressive 19,537 tradeable symbols, while Questrade provides access to 641. Both brokers give investors the ability to engage in forex trading and spot contracts with IG offering 97 tradeable forex pairs compared to Questrade's 110. Additionally, both platforms allow trading of exchange-traded securities on U.S. and international exchanges, enabling investors to buy shares in companies like Apple and Vodafone. However, a key difference is that IG offers the ability to purchase actual cryptocurrencies, whereas Questrade does not, although both brokers do offer cryptocurrency derivatives.
In terms of rankings, IG and Questrade both receive a glowing five-star rating for their range of investments. Despite this, IG is ranked fourth by ForexBrokers.com among 63 brokers, while Questrade comes in at eleventh. Neither platform offers copy trading, aligning them in terms of social trading capabilities. Overall, IG might be more appealing to those with a keen interest in cryptocurrency, owing to its offering of actual digital currencies, while Questrade stands out for traders interested in a wide range of forex pairs. Both brokers accommodate diverse investment strategies, making them competitive choices for investors of varied interests.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 641 |
| Forex Pairs (Total) | 97 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | 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.
When comparing the trading platforms and tools offered by IG and Questrade, both brokers provide a comprehensive set of features to enhance the trading experience. IG stands out with a higher rating, boasting a 5-star evaluation and ranking second among 63 brokers by ForexBrokers.com. Traders can enjoy features like simulated trading through a free virtual demo account and the flexibility of a proprietary platform available as a desktop download for Windows and a browser-based platform. Additionally, IG supports MetaTrader 4 (MT4), offering traders more diverse trading options. However, it does not provide copy trading services like DupliTrade or ZuluTrade, which is also absent in Questrade. Both platforms allow trading directly from stock charts, offering 20 drawing tools, and while IG provides 5 fields for watch lists, Questrade offers a more extensive 52 fields.
Questrade, while earning a respectable 4-star rating, is ranked thirty-fourth by ForexBrokers.com in the Trading Platforms and Tools category. It matches IG in providing a proprietary trading platform for Windows and web-based trading, alongside offering a free demo account for new traders. Unlike IG, the broker does not support MetaTrader 4, but it does offer DupliTrade, providing an alternative for traders interested in specific automated strategies. Despite the absence of MT4 or MT5, Questrade's appeal lies in its extensive range of watch list fields, giving traders more customization options. With no support for ZuluTrade or native copy trading, Questrade still offers competitive charting capabilities that make it a solid choice for many traders.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 64 |
| Charting - Drawing Tools (Total) | 20 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IG and Questrade offer comprehensive mobile trading experiences that cater to user preferences for iPhone and Android devices. Whether you're focused on stock or forex trading, both apps have you covered with essential features such as price alerts and real-time quote watchlists. Both platforms keep your trading journey seamless by syncing watchlists across devices, ensuring you never miss an update. While both apps allow drawing trendlines and viewing multiple time frames for market analysis, IG edges out slightly with a perfect five-star rating and a top ranking in mobile trading apps according to ForexBrokers.com.
Although Questrade has a commendable four-star rating, IG takes the lead with 33 technical studies available compared to Questrade's 64, which might offer more depth for traders seeking diverse analytical tools. Automatic saving of chart drawings in both apps reduces repetitive tasks and enhances efficiency. Choosing between IG and Questrade ultimately depends on your trading needs and preference for a highly rated, top-ranking mobile app experience or one with a slightly broader range of technical studies.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, IG offers a more comprehensive suite of resources compared to Questrade. IG provides daily market commentary and access to top-tier forex news from esteemed sources like Bloomberg and Reuters. It also includes tools such as those from Autochartist and sentiment-based trading tools that display the ratio of long or short positions across currency pairs, enhancing the trader's insight into market trends. Furthermore, IG users benefit from an intuitive economic calendar and insightful market research from companies like TipRanks and Acuity Trading. These features contribute to IG's impressive five-star research rating and a strong second-place ranking by ForexBrokers.com among 63 brokers evaluated.
Questrade, on the other hand, does not match IG's offerings in certain research areas. It lacks daily market commentary and forex news from leading sources. While Questrade shares similarities by offering technical analysis tools from Autochartist and Trading Central, it falls short in providing sentiment-based trading insights and research tools from Acuity Trading. Despite these limitations, Questrade does offer market research from TipRanks and maintains an economic calendar, providing some foundational tools for traders. These offerings result in Questrade’s research rating of 3.5 stars and a ranking of 51st by ForexBrokers.com, indicating scope for improvement in its research capabilities.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | Yes |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners from online brokers IG and Questrade, both platforms provide a strong foundation in forex and CFD education by offering at least 10 pieces of content on these subjects. However, IG sets itself apart by hosting monthly online educational webinars and providing access to a comprehensive library of recorded sessions. This feature offers a deeper, ongoing learning experience for new traders. Questrade, on the other hand, does not offer live webinars, though it does match IG's offering with an archive of recorded webinars.
Furthermore, IG excels with its wide array of beginner and advanced trading videos, alongside a detailed investor dictionary containing definitions of over 50 investing terms. These resources are essential for newcomers seeking to build their knowledge base and for more seasoned investors exploring complex strategies. Conversely, Questrade does not provide the same level of advanced educational content or a comprehensive investor dictionary. These distinctions contribute to IG's top ranking and 5-star rating in the education category, outperforming Questrade's ranking of 36th and a rating of 3.5 stars according to ForexBrokers.com.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IG is better than Questrade. IG finished with an overall rank of #1, while Questrade finished with an overall rank of #32.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
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Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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IG allows users to buy both actual cryptocurrencies and cryptocurrency derivatives, while Questrade offers the ability to invest only in cryptocurrency derivatives, not the actual cryptocurrencies.
IG stands out as an online broker by offering a variety of deposit and withdrawal options including ACH/SEPA transfers, PayPal, Visa, Mastercard, and bank wires, whereas Questrade supports Visa, Mastercard, and bank wires but lacks the ACH/SEPA transfer and PayPal options that IG provides.
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 | IG | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | IG Review | Questrade Review |
| Broker Screenshots | IG | Questrade | |
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| Regulation | IG | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1974 | 2000 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 8 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IG | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 641 | |
| Forex Pairs (Total) | 97 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | 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 | IG | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | N/A | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | IG | Questrade | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | IG | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 52 | |
| Charting - Indicators / Studies (Total) | 33 | 64 | |
| Charting - Drawing Tools (Total) | 20 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IG | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | IG | Questrade | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | IG Review | Questrade Review |
| Overall | IG | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | IG Review | Questrade Review |
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