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 (founded 1996) and Questrade (founded 2000) are online brokers that are not publicly traded and are not banks. According to ForexBrokers.com, OANDA holds a Trust Score of 92/99 (highly trusted), while Questrade scores 85/99 (trusted), giving OANDA a higher confidence rating for safety.
On regulation, OANDA maintains 7 Tier-1 licenses and 0 Tier-2 licenses; Questrade holds 2 Tier-1 licenses and 0 Tier-2 licenses. Because Tier-1 regulators are considered highly trusted by ForexBrokers.com (and Tier-2 trusted), OANDA’s wider Tier-1 coverage helps explain its stronger trust profile compared to Questrade.
| 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 |
For commissions and fees, OANDA earns 4 stars and ranks #30 out of 63 brokers at ForexBrokers.com, while Questrade earns 3.5 stars and ranks #33. Both can feel pricey next to the cheapest competitors, but OANDA’s pricing structure can deliver lower all-in costs than Questrade on major pairs depending on the account option and your trading volume.
OANDA’s default spreads are on the higher side, with the average non-core EUR/USD spread at 1.61 pips in July 2024. Its Core Pricing plan trims the spread but adds a commission of $5 per side per $100,000 traded (about $10 round turn), and requires a $10,000 minimum deposit. In a common scenario, a 1.6-pip default spread versus a 0.4-pip core spread plus a 1.0-pip commission-equivalent results in about 1.4 pips all-in under Core—slightly cheaper than default. OANDA also allows tiny trade sizes down to 1 unit, offers active-trader rebates of $5–$17 per million in select regions, and publishes trailing spread data (though not fixed-period averages), which can make precise comparisons tricky. Its main operational draw is automated execution across account types.
Questrade’s target spread on EUR/USD is 1.9 pips, which is steep relative to the industry average. Versus the figures above, that target is higher than OANDA’s observed non-core average (1.61 pips) and the example all-in core cost (about 1.4 pips). Actual pricing varies with market conditions and account setup, so your results may differ, but if you qualify for OANDA’s Core Pricing and trade actively, your typical all-in costs may come in lower than Questrade’s target spread.
| 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.
Comparing OANDA and Questrade for range of investments: OANDA lists 4,172 tradeable symbols, while Questrade offers 641. For forex, OANDA has 69 pairs and Questrade has 110. Both brokers support forex trading (CFD or spot) and let clients buy exchange-traded securities on U.S. and international markets (think Apple on NASDAQ and Vodafone in London). Both also offer cryptocurrency as CFDs.
Only OANDA adds copy trading and the ability to buy actual, delivered cryptocurrency; Questrade does not. Reflecting this mix, ForexBrokers.com rates OANDA 4.5/5 and Questrade 5/5 for Range of Investments, ranking them #20 and #12 out of 63 brokers, respectively. If you want the biggest overall symbol list and crypto you can own, OANDA stands out. If you want more forex pairs within a brokerage that also covers U.S. and international stocks, Questrade has an edge.
| 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 | 92 | 85 |
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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 | 92 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | Questrade Review |
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| 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 | 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 | 92 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | Questrade Review |
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