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.
Established in 2000, Questrade is a significant player in the online brokerage world, offering a solid level of trustworthiness. With a Trust Score of 86 out of 99 as rated by ForexBrokers.com, Questrade is deemed a trusted broker. While it isn't publicly traded nor recognized as a bank, Questrade strengthens its credibility with 2 Tier-1 licenses, considered highly reliable by industry standards. Thus, Questrade stands as a dependable option for online trading, thanks to its regulatory safeguards.
Founded in 2010, IronFX is another prominent choice for online trading, with a modestly trusted rating. With a Trust Score of 83, it falls within the trusted category according to ForexBrokers.com. Similar to Questrade, IronFX is not listed on a stock exchange and is not a bank. However, IronFX slightly edges out with 3 Tier-1 licenses, reinforcing its position as a trusted broker. Despite zero Tier-2 licenses, IronFX's regulatory framework still garners confidence among its clients.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Year Founded | 2000 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| 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 | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Questrade and IronFX are two popular online brokers that offer a range of investment opportunities, but they differ significantly in their offerings. Questrade stands out with its extensive range of 641 tradeable symbols, including a remarkable 110 forex pairs. This makes it an attractive choice for traders seeking variety. Additionally, Questrade provides the ability to trade exchange-listed securities on both U.S. and international exchanges, allowing clients to invest directly in well-known companies like Apple and Vodafone. While Questrade doesn't offer copy trading, it does provide the option to trade cryptocurrency derivatives.
In contrast, IronFX provides fewer tradeable symbols, with a total of 340, and offers 83 forex pairs. IronFX doesn't support direct trading of exchange-listed securities on U.S. or international exchanges, which may limit investment diversity for some traders. However, IronFX does offer copy trading, catering to investors interested in mirroring the trades of experienced professionals. Similar to Questrade, IronFX allows trading of cryptocurrency derivatives but not the actual currencies. Overall, Questrade garners a better rating for its range of investments, securing a 5-star rating and an 11th place ranking by ForexBrokers.com, compared to IronFX's 3.5-star rating and a 51st place ranking.
| 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 | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | 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.
Questrade and IronFX each offer unique advantages in trading platforms and tools, appealing to various trading styles and preferences. Both brokers provide simulated or paper trading options, allowing users to practice without financial risk. Questrade shines with its proprietary platform, available on both Windows desktop and web-based formats, while IronFX relies on third-party platforms like MetaTrader 4. Although they both provide desktop and online trading options, Questrade stands out with its proprietary technology and the inclusion of DupliTrade. Meanwhile, IronFX offers copy trading but lacks the availability of DupliTrade and supports only MetaTrader 4, not the newer MetaTrader 5.
Chart enthusiasts will appreciate Questrade's 20 drawing tools, compared to IronFX's 15, and the versatility of trading directly from stock charts is supported by both platforms. When managing watch lists, Questrade provides substantial flexibility with 52 columns, significantly more than IronFX's seven. In terms of industry recognition, Questrade is rated four stars by ForexBrokers.com, ranking 34th out of 63 for trading platforms and tools, whereas IronFX holds a 3.5-star rating and is placed 61st. These factors make Questrade preferable for those seeking comprehensive tools and customization, while IronFX might attract traders interested in traditional copy trading.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| 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 evaluating mobile trading apps, both Questrade and IronFX provide good options for traders using iPhone and Android devices. Both apps offer essential features such as stock and forex price alerts and the capability to create watchlists with real-time quotes. However, Questrade stands out with its ability to synchronize watchlist symbols between the mobile app and the user's online account, offering seamless updates across platforms, a feature lacking in IronFX. Moreover, Questrade offers a more extensive array of technical studies, boasting 64 compared to IronFX's 30, which might be beneficial for traders relying heavily on chart analysis.
Both Questrade and IronFX equip traders with the functionality to draw trendlines and view different time frames on charts, alongside auto-saving any drawings. Despite these similarities, Questrade's app garners higher ratings, receiving four out of five stars, whereas IronFX earns a slightly lower 3.5 stars. Additionally, Questrade is ranked higher by ForexBrokers.com at 34th out of 63 brokers in the mobile trading apps category, compared to IronFX's 62nd place. These distinctions suggest Questrade may be more suitable for traders seeking comprehensive chart analysis tools and efficient watchlist management.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| 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, we find distinct strengths in each. IronFX impresses with its daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. This emphasis on timely news gives IronFX the edge for traders focused on current events. On the other hand, Questrade excels in analysis tools, providing resources from companies like Autochartist and Trading Central, which cater to traders who prefer in-depth technical and fundamental analysis. Additionally, Questrade offers market research insights from TipRanks, adding another layer of strategy for informed decision-making.
Both platforms provide an economic calendar to track global events, but when we dive into ratings and rankings, IronFX is rated slightly higher for research with 4 out of 5 stars, while Questrade receives a 3.5-star rating. In the ranking of 63 brokers by ForexBrokers.com, IronFX stands at #28 in the research category, whereas Questrade is positioned at #51. This suggests that while IronFX may have more comprehensive daily market updates, Questrade might be better suited for traders looking for advanced analytical tools and strategic insights.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at Questrade and IronFX, both platforms provide a solid foundation with over ten educational pieces focusing on forex and CFDs. This includes a mix of articles, videos, and archived webinars, making them suitable for those new to trading. Both brokers support new traders with at least ten beginner-friendly educational videos. However, neither Questrade nor IronFX offers regular live webinars, although they do provide searchable archives of previously recorded sessions, which can be a helpful resource for self-paced learning.
Questrade and IronFX differ slightly in a few areas. While neither offers a substantial library of advanced educational videos, IronFX edges ahead with an investor dictionary containing over 50 investing terms, a resource not available with Questrade. Despite the differences, IronFX's educational content earns it a higher rating of 4 stars out of 5, compared to Questrade's 3.5 stars. Interestingly, despite its higher educational rating, IronFX is ranked #44 by ForexBrokers.com out of 63 brokers, just below Questrade's rank of #36, suggesting other factors also play a role in their educational ranking.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | 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 |
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| Trust Score | 86 | 83 |
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Both Questrade and IronFX do not provide the option to purchase actual delivered cryptocurrency, but they both offer the ability to invest in cryptocurrency derivatives.
When comparing online brokers, both Questrade and IronFX do not support ACH, SEPA, or PayPal for deposits or withdrawals, but IronFX uniquely offers Skrill, while both brokers provide options to use Visa, Mastercard, and bank wires for funding accounts.
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 | Questrade | IronFX | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | Questrade Review |
| Broker Screenshots | Questrade | IronFX | |
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| Regulation | Questrade | IronFX | |
|---|---|---|---|
| Trust Score | 86 | 83 | |
| Year Founded | 2000 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | 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) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Questrade | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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 | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | 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 | 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 | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | IronFX | |
|---|---|---|---|
| Minimum Deposit | $250 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Questrade | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| 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 | No | |
| 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 | No | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | 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 | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | Questrade Review |
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