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.
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.
OANDA vs Questrade: OANDA was founded in 1996 and Questrade in 2000. Neither broker is publicly traded or a bank. According to ForexBrokers.com, OANDA holds a Trust Score of 92/99 (highly trusted), while Questrade scores 85/99 (trusted). For context, ForexBrokers.com rates 90–99 as highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted.
Regulation and licenses: OANDA holds 7 Tier-1 licenses and 0 Tier-2 licenses. Questrade holds 1 Tier-1 license and 0 Tier-2 licenses. Tier-1 licenses are considered highly trusted by ForexBrokers.com. In simple terms, both brokers are overseen by at least one top-tier regulator, with OANDA regulated across more top-tier jurisdictions, which aligns with its higher Trust Score.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Year Founded | 1996 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
OANDA and Questrade both use pricing that is built around spreads, but OANDA generally comes out a little better on overall value for active forex traders. OANDA’s default pricing can still be pricey, with EUR/USD averaging 1.61 pips in July 2024, while its core pricing lowers spreads but adds a commission of $5 per $100,000 traded per side. That said, OANDA does offer very small trade sizes, automatic execution across its account types, and rebate perks for high-volume traders. OANDA is rated 4 out of 5 stars for commissions and fees and ranks #32 out of 36 brokers by ForexBrokers.com.
Questrade, by contrast, also makes money through the spread rather than a separate forex commission, but its costs can run higher than many competitors. While Questrade says spreads can start at 0.8 pips in normal market conditions, real-world major-pair spreads were found closer to 2.1 to 2.5 pips at the time of review, which can make trading more expensive on a standard lot. For CFDs, Questrade adds a $9.95 USD fee per unit on top of the spread, and overnight financing can raise the total cost even more. Questrade is rated 3.5 out of 5 stars and ranks #35 out of 36 brokers for commissions and fees.
In simple terms, OANDA is the better pick if you want slightly stronger forex pricing and more flexible trade sizing, while Questrade may feel more costly once spreads and added CFD fees are factored in. Neither broker is considered a low-cost leader in this category, but OANDA has the edge for traders focused mainly on forex.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.68 | 0.8 or higher |
| All-in Cost EUR/USD - Raw spread account | N/A | N/A |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to investment choice, OANDA and Questrade both support forex trading, but they differ in what else you can trade. OANDA offers a much wider overall list of tradeable symbols, with 4,172 compared with Questrade’s 675, and it also provides 68 forex pairs versus Questrade’s 110. Beyond forex, OANDA lets clients trade U.S. and international exchange-traded securities, use copy trading, and access both actual cryptocurrency and cryptocurrency CFDs. Questrade does not offer these product types.
Even with OANDA’s broader menu of markets, Questrade scores higher for range of investments, earning 5 stars and a ForexBrokers.com ranking of #12 out of 36 brokers, compared with OANDA’s 4.5 stars and #20 ranking. In short, OANDA gives traders more asset types to choose from, while Questrade stands out with a stronger rating in this category.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 675 |
| Forex Pairs (Total) | 68 | 110 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | Yes | No |
| Cryptocurrency (CFDs) | Yes | 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.
When it comes to trading platforms and tools, both OANDA and Questrade give traders a lot of useful ways to get started. Each broker offers a free demo account for simulated trading, plus both have their own in-house platform, a Windows desktop app, and a web-based platform you can use in your browser. They also let you trade directly from charts and each earns a 4-star rating for Trading Platforms and Tools. In ForexBrokers.com’s ranking out of 36 brokers, OANDA places higher at #16, while Questrade comes in at #30.
For traders who want more platform choices, OANDA has the edge. It supports copy trading as well as MetaTrader 4 and MetaTrader 5, while Questrade does not offer those options. That makes OANDA a better fit for anyone looking for popular third-party platforms or social-style trading features. Questrade still covers the basics well, but OANDA offers more tools and flexibility for active traders who want more platform variety.
| 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) | 82 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and Questrade both offer iPhone and Android trading apps, along with stock and forex price alerts, trendline drawing, and automatic saving for chart drawings. Where Questrade pulls ahead is watchlist syncing: changes made in the mobile app stay synced with the client’s online account, while OANDA does not offer that feature. Questrade also gives traders more charting tools in its mobile app, with 64 technical studies compared with 33 at OANDA.
In overall mobile trading app performance, OANDA has the edge. It earns a 5-star rating for Mobile Trading Apps and ranks #7 out of 36 brokers at ForexBrokers.com, while Questrade is rated 3.5 stars and ranks #30. For traders who want a higher-rated mobile experience, OANDA stands out, but Questrade may be better for users who want synced watchlists and a larger set of chart studies.
| 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 | 33 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, OANDA has a clear edge over Questrade. OANDA offers daily market commentary, forex news from top sources like Bloomberg and Reuters, a sentiment tool that shows long and short positioning, Acuity Trading tools such as Signal Centre, and an economic calendar with upcoming global events. It also includes Autochartist for technical and fundamental insights. These features help traders stay on top of market moves and trading ideas in one place.
Questrade offers some useful research features too, including Autochartist, Trading Central, and TipRanks. However, it does not provide daily market commentary, top-tier forex news, sentiment data, Acuity Trading tools, or an economic calendar. Based on ForexBrokers.com, OANDA is rated 5 stars for research and ranked #4 out of 36 brokers, while Questrade is rated 3.5 stars and ranked #36, making OANDA the stronger choice for market research overall.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | No | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | Yes |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
For beginners looking for helpful learning tools, OANDA offers far more educational support than Questrade. OANDA provides forex and CFDs education with at least 10 learning pieces, monthly client webinars, and a strong mix of beginner and advanced videos that can help new traders build skills step by step. It is rated 5 stars for Education and ranks #18 out of 36 brokers on ForexBrokers.com, which makes it a solid choice for traders who want more guidance as they get started.
Questrade also has some educational content, but it falls behind OANDA in the areas that matter most to beginners. It does not offer monthly webinars, and it lacks the same level of beginner and advanced video content focused on trading education. With a 3.5-star Education rating and a #30 ranking out of 36 brokers on ForexBrokers.com, Questrade may work for basic learning needs, but OANDA is the better pick for beginners who want more forex and CFDs education in one place.
| Feature |
OANDA
|
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 OANDA is better than Questrade. OANDA finished with an overall rank of #14, 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
|
Questrade
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 92 | 85 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
OANDA vs Questrade: the online broker OANDA lets you buy actual (delivered) cryptocurrency and trade crypto CFDs, while Questrade offers neither.
When comparing OANDA vs Questrade, OANDA offers more funding flexibility with ACH/SEPA transfers, Skrill, and bank wire support, while Questrade supports bank wires but does not offer ACH/SEPA transfers, Skrill, or PayPal.
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 | OANDA | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 92 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | Questrade Review |
| Broker Screenshots | OANDA | Questrade | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | OANDA | Questrade | |
|---|---|---|---|
| Trust Score | 92 | 85 | |
| 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 | 1 | |
| 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 CMA 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 | 675 | |
| Forex Pairs (Total) | 68 | 110 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | Yes | No | |
| Cryptocurrency (CFDs) | Yes | 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 | OANDA | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1.68 | 0.8 or higher | |
| All-in Cost EUR/USD - Raw spread account | N/A | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | OANDA | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | 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) | 82 | 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 Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 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 | No | |
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | OANDA | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | OANDA | Questrade | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | OANDA Review | Questrade Review |
| Overall | OANDA | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 92 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | Questrade Review |
IG
FOREX.com
CMC Markets
XTB
eToro
Capital.com
AvaTrade
XM
Pepperstone
FP Markets
Tickmill
HFM Markets