Written by ForexBrokers.com
In this head to head comparison of Questrade vs IronFX, 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.
Questrade, established in 2000, and IronFX, founded in 2010, are two prominent online brokers with a focus on ensuring secure trading environments. Questrade holds two Tier-1 licenses, which signals high trust from industry experts, while IronFX has three Tier-1 licenses, also indicating strong reliability. Despite neither being listed on a stock exchange nor operating as banks, both brokers maintain a stable presence in the market.
When it comes to trustworthiness, ForexBrokers.com rates Questrade with a Trust Score of 86, a mark that falls within the trusted range. IronFX follows closely with a Trust Score of 83, also deemed trusted. Notably, neither firm holds any Tier-2 licenses, but their Tier-1 credentials reinforce a secure trading environment for users seeking dependable brokerage options.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Year Founded | 2000 | 2010 |
| Publicly Traded (Listed) | ||
| Bank | ||
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to commissions and fees, Questrade presents a mixed picture. The broker has a target spread of 1.9 pips on the EUR/USD, which is considered steep when compared to the industry standard. This pricing structure has earned Questrade a 3-star rating for commissions and fees. Among 63 brokers evaluated by ForexBrokers.com, Questrade finds itself ranked near the bottom at #58, indicating there is room for improvement in its pricing strategy.
In comparison, IronFX's pricing also leaves something to be desired, although it fares slightly better overall. The broker lists a typical spread of 1.8 pips for their Standard variable spread account, but it's important to note that this figure can fluctuate based on account types. Their zero fixed-spread account starts at zero pips but includes an $18 per lot commission, with spreads widening to 3 pips overnight. Despite these challenges, IronFX scores a 4-star rating in the commissions and fees category and ranks #46 out of 63 brokers, showing they are somewhat more competitive than Questrade.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Minimum Deposit | $250 | $50 |
| Average Spread EUR/USD - Standard | N/A | 1.2 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | |
| ACH or SEPA Transfers | ||
| PayPal (Deposit/Withdraw) | ||
| Skrill (Deposit/Withdraw) | Yes | |
| 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 offered by Questrade and IronFX, Questrade shines with a broader selection. With 641 tradeable symbols, Questrade offers a significantly larger array of options than IronFX's 340 symbols. Both platforms support forex trading as CFDs or spot contracts, but Questrade leads with 110 tradeable forex pairs, compared to IronFX's 83. Additionally, Questrade allows clients to trade exchange-traded securities on U.S. and international exchanges, enabling investments in companies like Apple and Vodafone. In contrast, IronFX does not offer direct access to such securities.
For investors interested in cryptocurrency derivatives, both brokers provide this option, though neither offers the purchase of actual cryptocurrencies. While IronFX appeals to those interested in copy trading, a feature not available with Questrade, Questrade still ranks higher overall. Questrade garners a 5-star rating for its range of investments, ranking 11th among 63 brokers, while IronFX receives 3.5 stars and ranks 51st. These ratings reflect Questrade's more comprehensive offering, making it a compelling choice for investors seeking a wide-ranging investment portfolio.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 340 |
| Forex Pairs (Total) | 110 | 83 |
| U.S. Stock Trading (Non CFD) | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | |
| Social Trading / Copy Trading | Yes | |
| Cryptocurrency (Physical) | ||
| 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 choosing between Questrade and IronFX for their trading platforms and tools, both offer simulated trading through virtual demo accounts, which is great for beginners looking to practice without financial risk. Questrade provides a proprietary platform, developed in-house, and supports a desktop download for Windows users along with a web-based platform to trade within your browser. While Questrade does not offer popular platforms like MetaTrader 4 or 5, it provides its unique offering, DupliTrade, but not ZuluTrade. On the other hand, IronFX does not have its proprietary platform but offers MetaTrader 4, a well-known choice for traders, as well as support for copy trading through their platform. Both brokers enable traders to execute trades directly from stock charts, which can streamline the trading process.
When it comes to charting tools, Questrade includes 20 drawing tools, surpassing IronFX's 15, and offers a comprehensive 52 fields for watch lists compared to IronFX's 7, providing more info for quick decision-making. Ranked 34 out of 63 brokers by ForexBrokers.com, Questrade shines a bit brighter with a 4-star rating for their platforms and tools. In contrast, IronFX is ranked at 61 with a 3.5-star rating. These differences highlight that while both brokers offer solid trading experiences, Questrade delivers a slightly more advanced toolkit, potentially appealing to those who prefer a feature-rich environment.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | |
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | ||
| DupliTrade | Yes | |
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Questrade and IronFX offer solid platforms for trading on the go, as they are available for both iPhone and Android users. Both apps provide users with stock and forex price alerts and the ability to draw and autosave trendlines on charts. However, for those who rely on in-depth technical analysis, Questrade stands out by offering 64 technical studies compared to IronFX's 30. Questrade also has the edge with its feature that allows watchlist symbol synchronization, integrating seamlessly between the mobile app and the client's online account—a feature that IronFX lacks. Additionally, both platforms support viewing multiple time frames in chart analysis and allow users to create watchlists with real-time quotes.
In terms of user ratings, Questrade scores higher with 4 stars, while IronFX is rated at 3.5 stars for their mobile trading apps. This slight edge is further reflected in their rankings by ForexBrokers.com, where Questrade is placed at #34 out of 63 brokers, significantly ahead of IronFX, which ranks at #62. These factors make Questrade a more preferred choice for traders who prioritize advanced charting features and seamless integration between different platforms.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| 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 Questrade and IronFX, several key differences emerge. IronFX provides daily market commentary and delivers forex news sourced from top-tier outlets like Bloomberg and Reuters. In contrast, Questrade does not offer daily commentary or news from these major providers. However, both platforms include tools from Trading Central, as well as economic calendars that track significant global news events. Questrade stands out by offering market research through TipRanks, while IronFX appears to have no equivalent resource. Despite this, IronFX scores a higher rating for research quality, earning 4 stars compared to Questrade's 3.5 stars, and is ranked 28th among 63 brokers, whereas Questrade is ranked 51st.
Questrade enhances its research capabilities with tools from Autochartist, enabling users to engage in technical and fundamental analysis, an offering not available with IronFX. Neither broker provides sentiment-based trading tools or research from Acuity Trading. Both platforms support traders with essential analytical resources, yet IronFX achieves a stronger reputation for its comprehensive market insights. Ultimately, IronFX's robust news feeds and superior global standing make it a potentially more appealing choice for research-focused traders looking for in-depth market information.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | ||
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing educational resources for beginners between Questrade and IronFX, both online brokers provide a variety of materials geared toward those starting out with forex or CFDs. Questrade and IronFX each offer more than ten educational resources, such as articles, videos, and archived webinars, specifically addressing forex and CFDs. This can be a great help for beginners looking to learn the ropes. Additionally, both platforms provide access to a searchable archive of recorded webinars, allowing users to revisit and learn at their own pace. Notably, they both supply at least ten videos targeting basic trading topics, ensuring a solid foundation for novice traders.
However, in terms of resources beyond the basics, IronFX holds an edge with an investor dictionary that includes definitions for over 50 investing terms, which can be particularly useful for clarifying financial jargon. This distinction is mirrored in user ratings, where IronFX earns a 4-star education rating compared to Questrade's 3.5 stars. Yet intriguingly, when ranked among 63 brokers by ForexBrokers.com for their educational offerings, Questrade sits higher at #36, while IronFX is positioned at #44. This suggests that while IronFX excels in certain areas, Questrade may still offer features that hold appeal for learners in different ways.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | ||
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | ||
| 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 Questrade is better than IronFX. Questrade finished with an overall rank of #32, while IronFX finished with an overall rank of #48.
Regulated in both the U.S. and Canada, Questrade is a trusted full-service multi-asset broker now offering forex and CFDs alongside its stock trading services for active and passive investors. While its scope of educational resources and in-house research is limited, Questrade has an impressive platform lineup.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 86 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
While both Questrade and IronFX provide options to purchase cryptocurrency derivatives, only Questrade supports the acquisition of actual delivered cryptocurrency.
When comparing online brokers Questrade and IronFX in terms of deposit and withdrawal options, Questrade and IronFX both support transactions via Visa, Mastercard, and bank wires, but only IronFX offers Skrill, while neither broker supports ACH, SEPA, or PayPal transfers.
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 | Questrade | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | Questrade Review |
| Broker Screenshots | Questrade | IronFX | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
| Regulation | Questrade | IronFX | |
|---|---|---|---|
| Trust Score | 86 | 83 | |
| Year Founded | 2000 | 2010 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Questrade | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | |||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes |
| Tier-2 Licenses (Trusted) | Questrade | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | |||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | Questrade | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 340 | |
| Forex Pairs (Total) | 110 | 83 | |
| U.S. Stock Trading (Non CFD) | Yes | ||
| Int'l Stock Trading (Non CFD) | Yes | ||
| Social Trading / Copy Trading | Yes | ||
| Cryptocurrency (Physical) | |||
| 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 | Questrade | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.2 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | ||
| Inactivity Fee | |||
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes |
| Funding | Questrade | IronFX | |
|---|---|---|---|
| Minimum Deposit | $250 | $50 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers |
| Trading Platforms | Questrade | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | ||
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | |||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| Trading Tools | Questrade | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | ||
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| 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 | Questrade | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | ||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | |||
| Economic Calendar | Yes | Yes |
| Education | Questrade | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | |||
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | |||
| Investor Dictionary (Glossary) | Yes |
| Major Forex Pairs | Questrade | IronFX | |
|---|---|---|---|
| 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 | Questrade Review |
| Overall | Questrade | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | Questrade Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill