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 and Questrade both offer online brokerage services, but they differ significantly in their regulatory standings and trust ratings. IG, established in 1974, is a publicly traded company and functions as a bank. It has earned an impressive Trust Score of 99 out of 99 from ForexBrokers.com, reflecting its position as a highly trusted broker. This status is backed by its possession of 8 Tier-1 licenses and 2 Tier-2 licenses, indicating a firm regulatory foundation.
In contrast, Questrade, founded in 2000, is not publicly traded and does not operate as a bank. It holds a Trust Score of 86 out of 99, categorizing it as trusted, according to ForexBrokers.com. Questrade's regulatory backing includes 2 Tier-1 licenses but lacks any Tier-2 licenses. This comparison highlights IG's stronger regulatory presence and higher trust rating, offering investors an additional level of confidence in their services.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Year Founded | 1974 | 2000 |
| Publicly Traded (Listed) | Yes | |
| Bank | Yes | |
| 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 | |
| ACH or SEPA Transfers | Yes | |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments available through online brokers IG and Questrade, both offer competitive options for traders. IG provides access to an impressive 19,537 tradeable symbols, while Questrade supports 641. For those interested in forex trading, IG offers 97 forex pairs compared to Questrade's broader selection of 110. Both brokers allow clients to invest in exchange-traded securities on U.S. exchanges, including popular stocks like Apple. They also provide access to international exchanges, giving traders the opportunity to invest in companies such as Vodafone.
In the realm of cryptocurrency, IG allows the purchase of actual cryptocurrencies and derivatives, whereas Questrade only offers cryptocurrency derivatives. This distinction might appeal to investors seeking direct exposure to digital currencies. Both brokers have earned a strong reputation, receiving five-star ratings for their range of investments. However, IG holds the advantage, ranking fourth out of 63 brokers by ForexBrokers.com in this category, while Questrade ranks eleventh. This comparison highlights IG's extensive offering, catering to a broad spectrum of trading preferences.
| 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 | ||
| Cryptocurrency (Physical) | Yes | |
| 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). |
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When comparing IG and Questrade for their online trading platforms and tools, both brokers provide a wide range of features that cater to traders' needs. IG stands out with its highly-rated trading platforms, earning a 5-star rating for performance. It offers a proprietary platform, a Windows-based desktop application, and a web-based platform, ensuring flexibility for users. IG also supports MetaTrader 4 (MT4) and provides a free virtual demo account for beginners to practice without risk. Additionally, traders can utilize 20 drawing tools for charting and trade directly from stock charts. While the number of technical indicators hasn’t been specified, IG is recognized for its high-quality trading tools, ranking 2nd out of 63 brokers in the Trading Platforms and Tools category by ForexBrokers.com.
Questrade provides a competitive suite of trading tools, achieving a respectable 4-star rating in the Trading Platforms and Tools category. Like IG, it offers a proprietary platform available as a Windows desktop download and a web-based option. While it doesn't support MetaTrader 4, Questrade includes MetaTrader 5 and DupliTrade for enhanced capabilities. With 20 drawing tools for effective charting and direct stock chart trading, Questrade meets the essential needs of traders. A unique strength of Questrade lies in its watch list, offering 52 columns for monitoring multiple fields. These features contribute to Questrade's rank of 34th among 63 brokers, reflecting its substantial yet slightly less remarkable position compared to IG.
| 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 | ||
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | ||
| DupliTrade | Yes | |
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 33 | 64 |
| Charting - Drawing Tools (Total) | 20 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 52 |
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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 comparing the market research offerings of online brokers IG and Questrade, it's apparent that IG provides a wider range of resources. IG stands out with daily market commentary and access to forex news from esteemed sources like Bloomberg and Reuters. Furthermore, it offers unique tools such as a sentiment-based trading tool and research from both Autochartist and TipRanks, providing traders robust insights to guide their decisions. Additionally, IG delivers resources from Acuity Trading and maintains an economic calendar, ensuring users are kept up-to-date with global financial events. This extensive suite of research tools has earned IG a 5-star rating in research and a strong #2 ranking among 63 brokers according to ForexBrokers.com.
In contrast, Questrade's market research is somewhat limited, offering research tools from Trading Central and TipRanks, but lacking daily market commentary and forex news from top-tier sources. While it does provide access to Autochartist and an economic calendar, the absence of specific sentiment-based trading tools and resources from Acuity Trading reduces its appeal for those seeking comprehensive market insights. Questrade's research capabilities receive a 3.5-star rating, placing it at #51 among the same 63 brokers reviewed by ForexBrokers.com. This comparison highlights IG's superior market research offerings, making it a more attractive choice for traders seeking in-depth analysis and reliable data.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | |
| Social Sentiment - Currency Pairs | Yes | |
| TipRanks | Yes | Yes |
| Signal Centre (Acuity Trading) | Yes | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners from IG and Questrade, IG stands out with a wider array of offerings. Both IG and Questrade provide more than ten educational materials focusing on forex or CFDs, including articles, videos, and archived webinars. However, IG goes a step further by offering at least one live educational webinar each month, while Questrade does not match this monthly frequency. Both brokers feature a searchable archive of past webinars, ensuring that learners can revisit previously covered content at their leisure.
IG excels with its comprehensive collection of beginner and advanced educational videos, serving newcomers and experienced traders alike. While both offer an impressive catalog of beginner-focused videos, IG also provides advanced content, which Questrade lacks. Additionally, IG includes an investor dictionary with over 50 investing terms, another feature absent from Questrade's offerings. This dedication to education is reflected in IG's five-star rating and number one ranking in education by ForexBrokers.com, compared to Questrade's 3.5 stars and #36 rank. These resources make IG a more attractive choice for those who prioritize accessible and diverse educational tools in their trading journey.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | |
| Investor Dictionary (Glossary) | Yes |
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 actual delivered cryptocurrency and offers cryptocurrency derivatives, while Questrade provides access only to cryptocurrency derivatives, lacking direct cryptocurrency purchase options.
Both IG and Questrade offer Visa or Mastercard and bank wires as options for depositing or withdrawing account funds, with IG additionally supporting ACH, SEPA, and PayPal transfers, while Questrade does not specify these additional options.
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 | ||
| Bank | Yes | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| 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 | ||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | Yes | ||
| Singapore (MAS Authorised) | Yes | ||
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | Yes | ||
| New Zealand (FMA Authorised) | Yes | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes |
| Tier-2 Licenses (Trusted) | IG | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| 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 | |||
| Cryptocurrency (Physical) | Yes | ||
| 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 | ||
| Inactivity Fee | Yes | ||
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes |
| Funding | IG | Questrade | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | |||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes |
| Trading Platforms | IG | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | |||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | |||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| 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 | ||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | ||
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | ||
| Economic Calendar | Yes | Yes |
| Education | IG | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | ||
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | ||
| Investor Dictionary (Glossary) | Yes |
| 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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