Written by ForexBrokers.com
In this head to head comparison of OANDA 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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Founded in 1996, OANDA is a well-regarded online broker boasting a ForexBrokers.com Trust Score of 93 out of 99, reflecting its high level of trustworthiness. Although it isn't a publicly traded company or a bank, OANDA excels in regulatory strength with seven Tier-1 licenses, marking it as a highly trusted choice for traders seeking credibility and reliability.
Questrade, which came onto the scene in 2000, is also an online broker that operates privately, without public stock listings or banking status. With a ForexBrokers.com Trust Score of 86, Questrade is considered a trusted option, slightly under OANDA in terms of perceived trust. It holds two Tier-1 licenses, indicating a good level of regulatory oversight for maintaining user confidence.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Year Founded | 1996 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
Comparing OANDA vs Questrade on commissions and fees, both lean expensive on spreads, but OANDA offers more ways to manage costs. OANDA’s default forex spreads are high, yet its Core Pricing option adds a per-side commission that can bring the total cost down. Questrade targets a 1.9-pip spread on EUR/USD, which is also steep versus the industry average. Ratings and rankings reflect this: OANDA earns 4/5 stars and ranks #30 of 63 for Commissions and Fees, while Questrade earns 3/5 stars and ranks #33 of 63.
OANDA’s average non-core spread on EUR/USD was 1.61 pips in July 2024. With Core Pricing, spreads are lower but you pay $5 per side per $100,000 traded (about $10 per standard-lot round turn) and a $10,000 minimum deposit applies. In a common scenario, a 0.4-pip core spread plus about 1.0 pip in commission-equivalent yields an all-in 1.4 pips—slightly better than the 1.6-pip default. OANDA also allows ultra-small trade sizes down to 1 unit, offers active-trader rebates of $5–$17 per million in select regions (plus potential TradingView subscription reimbursements), and publishes a trailing average of spreads for transparency—though not a fixed-period average.
Questrade’s headline EUR/USD target spread of 1.9 pips makes it pricier on paper than OANDA’s example core setup (about 1.4 pips). OANDA isn’t a discount broker, but its flexible pricing and micro trade sizes can help lower effective costs compared with Questrade’s target spread. Bottom line: for forex commissions and fees, OANDA (4/5 stars, #30/63) edges Questrade (3/5 stars, #33/63) when using OANDA’s Core Pricing example on EUR/USD.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average spread (EUR/USD) - Standard account | 1.68 | N/A |
| All-in Cost EUR/USD - Active | 1.69 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
OANDA vs Questrade: when it comes to the range of investments, OANDA lists 4,172 tradeable symbols while Questrade offers 641. For forex, OANDA provides 69 currency pairs and Questrade lists 110, and both brokers support forex trading via CFDs or spot contracts. In short, OANDA leads on total symbols, while Questrade offers more currency pairs.
Both platforms let you buy exchange-traded stocks on U.S. markets like NASDAQ and on international exchanges such as London. OANDA supports copy trading, whereas Questrade does not. For cryptocurrency, OANDA offers both delivered crypto and crypto CFDs; Questrade offers crypto CFDs only. According to ForexBrokers.com’s Range of Investments ratings, OANDA scores 4 stars and ranks 20th out of 63 brokers, while Questrade earns 5 stars and ranks 12th.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 641 |
| Forex Pairs (Total) | 69 | 110 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | Yes | No |
| Cryptocurrency (CFDs) | 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.
OANDA and Questrade both offer free paper trading with demo accounts, proprietary platforms, Windows desktop apps, and web platforms. Each lets you place trades directly from charts. Key differences: OANDA supports copy trading and offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Questrade does not provide copy trading or MetaTrader. If you want MetaTrader tools, automated strategies, or social trading, OANDA has the edge; if you prefer an in-house platform, both brokers fit the bill.
For trading platforms and tools, both are rated 4 stars, but OANDA ranks higher overall: OANDA is #16 out of 63 brokers and Questrade is #28 out of 63, according to ForexBrokers.com. In short, choose OANDA for MetaTrader and copy trading, or pick either broker for an easy web and desktop setup with a demo account to practice.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 89 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both OANDA and Questrade offer mobile trading apps for iPhone and Android. Each app supports stock or forex price alerts, lets you draw trendlines on charts, and auto-saves your chart drawings—handy for picking up where you left off.
The key differences show up in charting and syncing. Questrade provides 64 technical studies and syncs watchlists with your online account, while OANDA offers 30 technical studies and does not sync watchlists. In overall quality, OANDA’s mobile app is rated 5 out of 5 stars and ranks #7 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, compared with Questrade’s 4 out of 5 stars and #28 ranking. Choose Questrade if synced watchlists and more indicators matter most; pick OANDA if you want a higher-rated mobile trading experience.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
For market research, OANDA offers more daily and forex-focused content. You get daily market commentary, forex news from top-tier sources, Autochartist scanning, a sentiment tool showing long vs. short positioning, and an economic calendar. Questrade includes Autochartist, Trading Central, TipRanks, and an economic calendar, but it lacks daily market commentary and a sentiment tool; coverage of forex news from top-tier sources is not specified.
These differences show up in independent ratings: OANDA earns 5 stars for Research and ranks #4 out of 63 brokers at ForexBrokers.com, while Questrade holds 3.5 stars and ranks #34. Choose OANDA if you want frequent commentary and forex-specific tools; pick Questrade if you value Trading Central and TipRanks insights alongside standard calendar and screening tools.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | Yes |
| Trading Central | No | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing OANDA vs Questrade for beginner education, OANDA clearly leans into learning with live, monthly client webinars and a deep library of beginner videos (10+). It also offers at least 10 advanced videos, making it easier to progress from basics to more complex strategies over time. Questrade does provide 10+ beginner videos, but it doesn’t host monthly webinars and doesn’t meet the same depth for advanced video content, so it’s more suited to self-paced starters who don’t need live sessions or higher-level lessons right away.
Independent ratings back this up: ForexBrokers.com gives OANDA 5 stars for Education and ranks it #18 out of 63 brokers, while Questrade earns 3.5 stars and ranks #28. If you want ongoing guidance and a path to advanced learning, OANDA is the stronger pick; if you only need basic video lessons to get underway, Questrade can cover the essentials.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| 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 OANDA is better than Questrade. OANDA finished with an overall rank of #13, while Questrade finished with an overall rank of #29.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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Questrade
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| Trust Score | 93 | 86 |
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In the OANDA vs. Questrade comparison, OANDA lets you buy actual (delivered) cryptocurrency and trade crypto CFDs, whereas Questrade offers crypto CFDs only and does not provide access to delivered coins.
Among online brokers, OANDA offers ACH/SEPA, PayPal, Skrill, and bank wire deposit and withdrawal options, while Questrade only supports bank wires.
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 | OANDA | Questrade | |
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| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | OANDA Review | Questrade Review |
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| Regulation | OANDA | Questrade | |
|---|---|---|---|
| Trust Score | 93 | 86 | |
| Year Founded | 1996 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | OANDA | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | 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) | OANDA | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | OANDA | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 641 | |
| Forex Pairs (Total) | 69 | 110 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | Yes | No | |
| Cryptocurrency (CFDs) | 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 | OANDA | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.68 | N/A | |
| All-in Cost EUR/USD - Active | 1.69 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | OANDA | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | OANDA | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | OANDA | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 89 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | OANDA | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | OANDA | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | OANDA Review | Questrade Review |
| Overall | OANDA | Questrade | |
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| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | OANDA Review | Questrade Review |
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