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OANDA vs Questrade 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

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.

OANDA
4.5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 93
  • Tradeable Symbols (Total): 4172 info
Questrade
4/5 Stars Overall
  • Minimum Deposit: $250
  • Trust Score: 86
  • Tradeable Symbols (Total): 641

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.

Regulation

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 logoOANDA
Questrade logoQuestrade
Year Founded info 1996 2000
Publicly Traded (Listed) info No No
Bank info No No
Tier-1 Licenses info 7 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 0

Fees

Comparing OANDA vs. Questrade on commissions and fees: OANDA is rated 4 out of 5 stars and ranks #35 of 63 at ForexBrokers.com, while Questrade is rated 3 out of 5 stars and ranks #59. Both skew pricey for forex, but OANDA offers two pricing plans and fast, automated execution across its accounts, whereas Questrade’s FX pricing is simpler but leans expensive.

OANDA’s default (commission-free) pricing averaged about 1.61 pips on EUR/USD in July 2024. Its Core Pricing plan lowers the spread but adds a $5 per $100,000 per side commission (about $10 per round-turn per standard lot) and requires a $10,000 minimum deposit. In a typical example, a 0.4‑pip spread plus the commission-equivalent of roughly 1 pip brings the all-in cost to around 1.4 pips—slightly better than the default. OANDA also lets you trade as small as 1 unit (0.001 micro lot), and active traders in select regions can earn rebates of $5–$17 per million, plus potential TradingView subscription reimbursements. OANDA publishes trailing average spreads for transparency, though not fixed-period averages. By contrast, Questrade targets 1.9 pips on EUR/USD—steep versus the industry and higher than OANDA’s example costs above. Actual pricing varies with market conditions.

Feature OANDA logoOANDA
Questrade logoQuestrade
Minimum Deposit info $0 $250
Average spread (EUR/USD) - Standard account info 1.69 info N/A
All-in Cost EUR/USD - Active info 1.69 info N/A
Non-wire bank transfer info Yes info No
PayPal (Deposit/Withdraw) info Yes No
Skrill (Deposit/Withdraw) info Yes No
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

OANDA vs. Questrade: When it comes to the range of investments, OANDA lists 4,172 tradeable symbols, far more than Questrade’s 641. That said, Questrade leads in currency choice with 110 forex pairs compared to OANDA’s 69, and both brokers support forex trading (CFD or spot). Each lets you buy exchange-traded securities on U.S. markets and on international exchanges. OANDA offers copy trading while Questrade does not. For crypto, OANDA provides both delivered cryptocurrency and crypto CFDs, whereas Questrade supports crypto CFDs only.

Ratings reflect these trade-offs: OANDA earns 4 out of 5 stars and ranks 28th out of 63 brokers for Range of Investments at ForexBrokers.com, while Questrade scores 5 stars and ranks 12th. Choose OANDA if you want the widest overall market selection, copy trading, or the option to buy actual crypto; pick Questrade if you prioritize a higher number of forex pairs within a highly rated lineup.

Feature OANDA logoOANDA
Questrade logoQuestrade
Forex Trading (Spot or CFDs) info Yes info Yes
Tradeable Symbols (Total) info 4172 info 641
Forex Pairs (Total) info 69 110
U.S. Stocks (Shares) info Yes Yes
Global Stocks (Non-U.S. Shares) info Yes Yes
Copy Trading info Yes info No
Cryptocurrency (Underlying) info Yes No
Cryptocurrency (CFDs) info Yes info 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.

Trading platforms and tools

OANDA and Questrade both check the core boxes for trading platforms and tools. Each offers a free paper trading (demo) account, an in‑house platform, a downloadable desktop platform for Windows, and a browser-based platform. You can place trades directly from charts with either broker, making it easy to act on what you see.

The biggest differences are in third‑party and social features. OANDA supports MetaTrader 4 and MetaTrader 5 and offers copy trading; Questrade does not support MT4/MT5 and does not offer copy trading. Both earn 4 stars for Trading Platforms and Tools, but OANDA ranks higher with ForexBrokers.com (#15 out of 63) compared with Questrade (#35 out of 63). If you want MetaTrader or copy trading alongside a strong in‑house platform, OANDA may be the better fit; if you’re fine with proprietary tools alone, Questrade remains a solid option.

Feature OANDA logoOANDA
Questrade logoQuestrade
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes info No
MetaTrader 4 (MT4) info Yes No
MetaTrader 5 (MT5) info Yes info No
Charting - Indicators / Studies (Total) info 89 64
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

OANDA vs. Questrade: both mobile trading apps are available on iPhone and Android, include price alerts, and let you draw trendlines on charts with drawings that auto-save. The key difference in everyday use is watchlists: OANDA’s mobile watchlists don’t sync with its web platform, while Questrade’s do—handy if you switch between phone and desktop often.

For charting depth, OANDA offers 30 technical studies, while Questrade lists 64. Ratings tilt the other way: OANDA earns 5 stars for Mobile Trading Apps and ranks #7 out of 63 brokers, whereas Questrade earns 4 stars and ranks #35, according to ForexBrokers.com. If you value higher app ratings and smooth performance, OANDA stands out; if syncing watchlists and a larger set of indicators matter more, Questrade is appealing.

Feature OANDA logoOANDA
Questrade logoQuestrade
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info No Yes
Mobile Charting - Indicators / Studies info 30 64
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

In the OANDA vs Questrade research comparison, OANDA clearly takes the lead. OANDA earns 5 stars and ranks #4 out of 63 brokers for Research on ForexBrokers.com, while Questrade scores 3.5 stars and ranks #52. OANDA delivers daily market commentary and streams forex news from top-tier sources, which can help you stay on top of breaking events; Questrade does not provide daily commentary and doesn’t advertise equivalent forex news coverage. Both brokers include an economic calendar to track key releases.

When it comes to tools, both OANDA and Questrade offer Autochartist for technical and fundamental ideas. Questrade adds Trading Central and TipRanks for extra analysis, while OANDA stands out with a sentiment tool that shows the balance of long and short positions—something Questrade lacks. Neither broker offers tools from Acuity Trading. Choose OANDA if you want daily insights, premium news, and sentiment data; pick Questrade if Trading Central and TipRanks are higher on your wishlist.

Feature OANDA logoOANDA
Questrade logoQuestrade
Daily Market Commentary (Articles) info Yes No
Forex News (Top-Tier Sources) info Yes
Autochartist info Yes Yes
Trading Central info No Yes
Client sentiment data info Yes No
TipRanks info No Yes
Acuity Trading info No No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

OANDA vs. Questrade for beginner education: both brokers offer at least 10 beginner-focused trading videos, which is a solid start for new traders. OANDA goes further with online client webinars held at least once a month and a larger catalog that includes at least 10 advanced videos for experienced traders. Questrade does not run monthly webinars and does not meet the 10-video mark for advanced topics. That means OANDA offers a clearer path from beginner lessons into more advanced forex and CFD learning, while Questrade suits newcomers who mainly want basic video lessons.

Independent ratings back this up: OANDA earns 5 stars for Education and ranks 19th out of 63 brokers on ForexBrokers.com, while Questrade scores 3.5 stars and ranks 36th. If education is a priority—especially for forex and CFD beginners who value webinars and advanced content—OANDA is the stronger choice, whereas Questrade is adequate for foundational material but lighter on ongoing development.

Feature OANDA logoOANDA
Questrade logoQuestrade
Webinars info Yes No
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes No

Dive deeper: Best Forex Brokers for Beginners.

Winner

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 #12, while Questrade finished with an overall rank of #32.

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 logoOANDA
Questrade logoQuestrade
Overall Rating info 4.5/5 Stars 4/5 Stars
Trust Score info 93 86
Range of Investments 4/5 Stars 5/5 Stars
Commissions & Fees 4/5 Stars 3/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars

FAQs

Can you trade cryptocurrency with OANDA or Questrade?

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.

What funding options does each broker offer?

Among online brokers, OANDA offers ACH/SEPA, PayPal, Skrill, and bank wire deposit and withdrawal options, while Questrade only supports bank wires.

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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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Overall Rating OANDA Questrade
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 3/5 Stars
Range of Investments 4/5 Stars 5/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score info 93 86
Winner check_circle
Review OANDA Review Questrade Review
Broker Screenshots OANDA Questrade
Broker Gallery (click to expand) info
OANDA fxTrade mobile trading app charting OANDA Trade web platform. OANDA's website features research in the form of its MarketPulse blog, which includes news, analysis, and articles. The OANDA website's educational hub features webinars and videos covering current events and financial analysis.
Questrade Global web platform dashboard. Questrade Global web platform Autochartist signals. Questrade educational content featured lessons.
Regulation OANDA Questrade
Trust Score info 93 86
Year Founded info 1996 2000
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No
Tier-1 Licenses info 7 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 0
Tier-1 Licenses (Highly Trusted) OANDA Questrade
Australia (ASIC Authorised) info Yes
Canada (CIRO Authorised) info Yes Yes
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No
Tier-2 Licenses (Trusted) OANDA Questrade
Kenya (CMA Authorised) info No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or SCA Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No
Investments OANDA Questrade
Forex Trading (Spot or CFDs) info Yes info Yes
Tradeable Symbols (Total) info 4172 info 641
Forex Pairs (Total) info 69 110
U.S. Stocks (Shares) info Yes Yes
Global Stocks (Non-U.S. Shares) info Yes Yes
Copy Trading info Yes info No
Cryptocurrency (Underlying) info Yes No
Cryptocurrency (CFDs) info Yes info 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 info 1.69 info N/A
All-in Cost EUR/USD - Active info 1.69 info N/A
Inactivity Fee info Yes No
Order execution: Agency info No Yes
Order execution: Market Maker info Yes No
Funding OANDA Questrade
Minimum Deposit info $0 $250
PayPal (Deposit/Withdraw) info Yes No
Skrill (Deposit/Withdraw) info Yes No
Bank Wire (Deposit/Withdraw) info Yes Yes
Non-wire bank transfer info Yes info No
Trading Platforms OANDA Questrade
Proprietary Desktop Trading Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes info No
MetaTrader 4 (MT4) info Yes No
MetaTrader 5 (MT5) info Yes info No
cTrader info No No
Trading Tools OANDA Questrade
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 89 64
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading OANDA Questrade
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info No Yes
Mobile Charting - Indicators / Studies info 30 64
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Research - Economic Calendar info Yes Yes
Research OANDA Questrade
Daily Market Commentary (Articles) info Yes No
Forex News (Top-Tier Sources) info Yes
Autochartist info Yes Yes
Trading Central info No Yes
TipRanks info No Yes
Client sentiment data info Yes No
Economic Calendar info Yes Yes
Education OANDA Questrade
Webinars info Yes No
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes No
Major Forex Pairs OANDA Questrade
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review OANDA Review Questrade Review
Overall OANDA Questrade
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 3/5 Stars
Range of Investments 4/5 Stars 5/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score info 93 86
Winner check_circle
Review OANDA Review Questrade Review
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