Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers vs Questrade: Interactive Brokers, founded in 1977, is publicly traded and not a bank; Questrade, founded in 2000, is privately held and also not a bank.
On regulation, Interactive Brokers holds 8 Tier-1 licenses and 2 Tier-2 licenses, while Questrade holds 1 Tier-1 license and no Tier-2 licenses. According to ForexBrokers.com’s Trust Score scale (90–99 highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, under 59 not trusted), Interactive Brokers scores 99/99 (highly trusted) and Questrade scores 85/99 (trusted).
| Feature |
Interactive Brokers
|
Questrade
|
|---|---|---|
| Year Founded | 1977 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 8 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Interactive Brokers stands out for low commissions and tight forex pricing, making it a strong choice for cost-conscious traders. In Q3 2024, IBKR’s average EUR/USD spread was 0.19 pips, or about 0.59 pips once commission is included. Forex commissions start at 0.00002, or 0.2 basis points, of the U.S. dollar trade value per side, with a minimum of $2 per order ($4 round turn). For a $100,000 EUR/USD trade, the commission equivalent is roughly 0.40 pips, and active traders may qualify for even lower rates. Interactive Brokers is rated 5 stars and ranked #2 out of 36 for Commissions and Fees.
Questrade takes a different approach by building trading costs into the spread instead of charging a separate commission. It says spreads can start at 0.8 pips, but in practice major forex pairs were closer to 2.1 to 2.5 pips at the time of review. That means a standard lot trade can cost around $20 in spread alone, which is noticeably higher than IBKR’s typical all-in cost of about $6 to $9 for the same trade. Questrade also charges a $9.95 USD fee per CFD unit, which can make CFD trading expensive once spreads and overnight financing are added. Questrade is rated 3.5 stars and ranked #34 out of 36 for Commissions and Fees.
Overall, Interactive Brokers is the lower-cost option for most forex traders, especially anyone trading larger volumes or making frequent trades. Questrade may still appeal to traders who prefer spread-based pricing, but its wider spreads and CFD fees can add up quickly. If keeping trading costs down is a priority, IBKR has the edge on commissions and fees.
| Feature |
Interactive Brokers
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 0.226 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 0.226 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers offers a much wider range of investments than Questrade. It gives clients access to about 8,500 tradeable symbols, including exchange-traded securities on both U.S. and international exchanges, plus the ability to buy actual cryptocurrency. Interactive Brokers also supports forex trading, with around 90 tradeable currency pairs. Questrade, by comparison, offers about 675 tradeable symbols and does not provide access to U.S. or international exchange-traded securities.
Both brokers offer forex trading as a spot contract or CFD-style product, but Questrade lists more forex pairs at around 110. Neither broker offers copy trading, and neither provides cryptocurrency CFDs. For range of investments, both are rated 5 out of 5 stars, but ForexBrokers.com ranks Interactive Brokers #1 out of 36 brokers in this category, while Questrade is ranked #12.
| Feature |
Interactive Brokers
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 675 |
| Forex Pairs (Total) | 90 | 110 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | No |
| Cryptocurrency (Underlying) | Yes | No |
| Cryptocurrency (CFDs) | No | 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.
Interactive Brokers and Questrade both give traders a strong mix of platform choices and trading tools. Each broker offers a free paper trading account, its own in-house platform, a Windows desktop download, and a web-based platform that works in a browser. Both also let users place trades directly from a stock chart. On the other hand, neither broker supports copy trading, MetaTrader 4, or MetaTrader 5.
When it comes to overall trading platform quality, Interactive Brokers has the edge. It earns 5 out of 5 stars for Trading Platforms and Tools and ranks #2 out of 36 brokers at ForexBrokers.com, while Questrade is rated 4 out of 5 stars and ranks #29. For traders comparing online brokers, this suggests Interactive Brokers offers a more advanced platform and tool set, while Questrade still provides a solid, easy-to-use setup for everyday trading.
| Feature |
Interactive Brokers
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 155 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and Questrade both give traders the basics most mobile users want, including iPhone and Android apps, stock and forex price alerts, watchlist syncing between mobile and online accounts, and the ability to draw trendlines on charts. That means either broker can work well if you want to check markets and manage trades from your phone. Both apps also keep your watchlists in sync, so changes you make on one device show up on the other.
Where Interactive Brokers stands out is in charting depth and overall app quality. Its mobile app includes 155 technical studies compared with Questrade’s 64, and ForexBrokers.com rates Interactive Brokers 5 stars for mobile trading apps versus 3.5 stars for Questrade. Interactive Brokers also ranks #4 out of 36 brokers in this category, while Questrade ranks #29. One area Questrade does better is saving chart drawings automatically, while Interactive Brokers does not. Overall, Interactive Brokers offers the stronger mobile trading experience, especially for traders who rely on chart tools.
| Feature |
Interactive Brokers
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 155 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research tools, Interactive Brokers comes out ahead of Questrade in several key areas. Interactive Brokers offers daily market commentary, forex news from top sources like Bloomberg, Reuters, and Dow Jones, a sentiment-based trading tool, Acuity Trading research, and an economic calendar with global events. It also includes Trading Central and TipRanks, giving traders a wide mix of research options. Questrade also provides Trading Central and TipRanks, and it adds Autochartist, but it does not offer daily commentary, top-tier forex news, sentiment tools, Acuity Trading, or an economic calendar.
Overall, Interactive Brokers is rated 5 stars for research and ranks #3 out of 36 brokers in the ForexBrokers.com research category, while Questrade is rated 3.5 stars and ranks #35. For traders who want more market updates, news sources, and built-in research tools, Interactive Brokers offers a stronger research package than Questrade.
| Feature |
Interactive Brokers
|
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 | Yes | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
For beginners looking for trading education, Interactive Brokers has a clear edge over Questrade. Interactive Brokers offers forex and CFD learning materials, monthly client webinars, and plenty of video content for both new and experienced traders, including at least 10 beginner videos and 10 advanced videos. That depth of coverage helps new users build skills step by step, whether they want to learn the basics or explore more complex topics.
Questrade provides some educational support, but it falls short in several key areas compared with Interactive Brokers. It does not offer the same level of forex or CFD-specific education, monthly webinars, or large video libraries for beginners and advanced traders. That difference is reflected in their scores and rankings: Interactive Brokers earns 5 stars for Education and ranks #1 out of 36 brokers, while Questrade gets 3.5 stars and ranks #28.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than Questrade. Interactive Brokers finished with an overall rank of #2, while Questrade finished with an overall rank of #29.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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Questrade
|
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| Trust Score | 99 | 85 |
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In an Interactive Brokers vs Questrade comparison for crypto trading, Interactive Brokers allows purchases of actual delivered cryptocurrency, whereas Questrade does not; neither broker offers cryptocurrency CFDs.
Interactive Brokers supports ACH/SEPA transfers and bank wires for deposits and withdrawals, while Questrade lacks ACH/SEPA but supports bank wires; neither broker supports PayPal or Skrill, and Visa/Mastercard availability is not specified.
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 | Interactive Brokers | Questrade | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Questrade Review |
| Broker Screenshots | Interactive Brokers | Questrade | |
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| Regulation | Interactive Brokers | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1977 | 2000 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 8 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (FSA 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) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Interactive Brokers | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No |
| Investments | Interactive Brokers | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 675 | |
| Forex Pairs (Total) | 90 | 110 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | No | |
| Cryptocurrency (Underlying) | Yes | No | |
| Cryptocurrency (CFDs) | No | 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 | Interactive Brokers | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.226 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 0.226 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | No | No |
| Funding | Interactive Brokers | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Interactive Brokers | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | Interactive Brokers | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 155 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 155 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | 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 | Interactive Brokers | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Interactive Brokers | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Interactive Brokers Review | Questrade Review |
| Overall | Interactive Brokers | Questrade | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Questrade Review |
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