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 |
Comparing commissions and fees, OANDA and Questrade take different routes. OANDA earns 4 stars for pricing (ranked #30 of 63), while Questrade earns 3.5 stars (ranked #33 of 63). OANDA offers both spread-only pricing and a “core” plan with a separate commission. Questrade Global is spread-only, folding all trading costs into the bid/ask price you see.
OANDA’s default spreads can be on the higher side; for example, the average EUR/USD spread in July 2024 was 1.61 pips. Its core pricing reduces spreads but adds a $5 per side commission per $100,000 traded (about $10 per round turn). In a common scenario, a 1.6-pip default spread might fall to a 0.4-pip spread on core pricing; after adding the 1.0-pip commission-equivalent, the all-in cost is about 1.4 pips—slightly cheaper than default. The core plan requires a $10,000 minimum deposit. OANDA also lets you trade tiny sizes (down to 1 unit), and offers volume-based rebates of $5–$17 per million for active traders in select regions. It publishes trailing average spreads for transparency, though not fixed-period averages.
Questrade Global bakes its fees into the spread. While it advertises spreads as low as 0.8 pips in normal conditions, typical averages on major pairs often land closer to 2.1–2.5 pips—so a one-standard-lot trade can cost about $20 all-in at 2 pips. For CFDs, costs can climb: there’s a small spread plus a $9.95 USD trading fee per unit when you open and close a position (about $19.95 total per unit), excluding overnight financing. Bottom line: OANDA’s core pricing can edge out its own default spreads and may undercut Questrade’s typical spread-only costs, while Questrade keeps pricing simple but can be pricier for frequent forex or CFD traders.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.68 | 0.8 or higher |
| 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 delivers a larger overall catalog with 4,172 tradeable symbols and 69 forex pairs, plus access to exchange-traded U.S. and international stocks. OANDA also supports both spot and CFD forex, offers actual crypto and crypto CFDs, and includes copy trading. Questrade lists 675 tradeable symbols but stands out for currency traders with 110 forex pairs, and it supports forex as spot or CFDs. However, Questrade does not offer exchange-traded U.S. or international stocks, crypto, or copy trading.
Ratings tell a different story: ForexBrokers.com scores Questrade at 5 stars and ranks it #12 out of 63 for Range of Investments, while OANDA earns 4.5 stars and ranks #20. Choose OANDA if you want a bigger mix of assets—U.S./international equities, crypto, and copy trading. Pick Questrade if your priority is a wider selection of forex pairs.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 675 |
| Forex Pairs (Total) | 69 | 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.
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.
OANDA and Questrade both offer iPhone and Android trading apps with price alerts, trendline drawing, and auto‑saved chart annotations. The big difference is watchlist syncing: Questrade syncs watchlists between mobile and web, while OANDA does not. For charting tools, Questrade lists 64 technical studies versus OANDA’s 30, which may appeal to traders who lean on a larger selection of indicators.
In overall quality, OANDA’s mobile trading app is rated 5 stars and ranks #7 out of 63 brokers by ForexBrokers.com, while Questrade earns 3.5 stars and ranks #28. If you want a higher‑rated mobile experience for forex or stocks, OANDA stands out. If seamless watchlist syncing and more built‑in studies matter most, Questrade could be the better fit.
| 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.
Comparing OANDA vs Questrade for market research, OANDA delivers more day-to-day insight. It provides daily market commentary, forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, and an economic calendar covering key global events. OANDA also includes Autochartist tools and a sentiment gauge that shows the ratio of long and short positions. Questrade offers Autochartist as well, plus Trading Central and TipRanks for trade ideas, but it does not include daily commentary, a sentiment tool, an economic calendar, or premium forex news feeds. Both lack tools from Acuity Trading.
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 scores 3.5 stars and ranks #34. Pick OANDA if you want frequent market updates, trusted news, and sentiment data in one place; choose Questrade if Trading Central and TipRanks are your priorities and you can do without daily commentary or a built-in calendar.
| 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 | No | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
Comparing education for beginner traders, OANDA pulls ahead of Questrade. OANDA hosts online client webinars at least once a month and offers a sizable video library with 10+ beginner videos plus 10+ advanced videos, giving newcomers clear next steps as they improve. Questrade, on the other hand, does not run monthly client webinars and does not provide at least ten beginner or advanced trading videos, making its learning lineup slimmer for those starting out.
Ratings reflect this gap: OANDA earns 5 stars for Education and ranks #18 out of 63 brokers at ForexBrokers.com, while Questrade scores 3.5 stars and ranks #28. If you want frequent live sessions and a larger collection of beginner-friendly videos, OANDA is the stronger choice; if you don’t need many videos or webinars, Questrade may still fit your needs.
| 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 #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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OANDA vs Questrade: the online broker OANDA lets you buy actual (delivered) cryptocurrency and trade crypto CFDs, while Questrade offers neither.
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 |
| Broker Screenshots | OANDA | Questrade | |
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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 | 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) | 69 | 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) - Standard account | 1.68 | 0.8 or higher | |
| 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 | $0 | |
| 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 | 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 | |
|---|---|---|---|
| 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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