Written by ForexBrokers.com
In this head to head comparison of Pepperstone 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.
Pepperstone and Questrade are both reputable online brokers, each with its own strengths. Founded in 2010, Pepperstone is distinguished by holding three Tier-1 licenses and two Tier-2 licenses, ratings that underscore a high level of trust and reliability. With a stellar Trust Score of 95 from ForexBrokers.com, Pepperstone is highly trusted within the industry. Although not a publicly traded company or a bank, Pepperstone's regulatory standing makes it a favored choice for those seeking a secure trading platform.
On the other hand, Questrade, established in 2000, holds two Tier-1 licenses and no Tier-2 licenses, which places it in the trusted category with a Trust Score of 86 according to ForexBrokers.com. Like Pepperstone, Questrade is neither a publicly listed company nor a bank, but its solid regulatory credentials provide peace of mind for traders. Both brokers offer unique features, but if regulatory recognition and trust are key considerations, Pepperstone edges slightly ahead, offering more assurances to users.
| Feature |
Pepperstone
|
Questrade
|
|---|---|---|
| Year Founded | 2010 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
Pepperstone and Questrade differ considerably when it comes to their commissions and fees, making them suitable for different types of traders. Pepperstone shines with its Razor account, boasting an average spread of 0.10 pips for EUR/USD, paired with a commission-equivalent spread of 0.70 pips. This results in an all-in cost of 0.80 pips, nearly hitting the industry average. On the other hand, its Standard account is commission-free but has a higher average spread of 1.1 pips for the same currency pair, making it less cost-effective than its Razor counterpart. Active traders can further benefit from Pepperstone's rebate program, which reduces spreads based on trading volumes.
For traders in the United Kingdom, EU, and Australia, Pepperstone offers generous rebate incentives for high-volume traders. UK and EU professionals can earn a rebate of up to 25% on spreads for forex trades exceeding £200 million a month. Meanwhile, Australian traders see spread discounts of up to 30% for trading more than 3001 standard lots monthly. All these factors contribute to Pepperstone's strong performance in the Commissions and Fees category, earning it a ranking of #10 out of 63 brokers and a commendable 4.5-star rating.
Conversely, Questrade lags behind with an average target spread of 1.9 pips on EUR/USD, considerably higher than the industry norm. This higher spread, lacking any significant rebate or discount program, renders it less attractive for traders looking to optimize cost efficiency. Consequently, Questrade is ranked #58 out of 63 brokers and holds a 3-star rating for commissions and fees. This positions Questrade as a less appealing option for traders primarily concerned with minimizing trading costs.
| Feature |
Pepperstone
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average Spread EUR/USD - Standard | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and Questrade both offer a diverse selection of trading options for investors, with some distinct differences. Pepperstone provides 1726 tradeable symbols and specializes in forex trading with 65 forex pairs available as CFDs or spot contracts. In contrast, Questrade offers 641 tradeable symbols and provides a wider range of forex pairs with 110 options. Both platforms allow trading in cryptocurrency derivatives, although neither allows the purchase of actual cryptocurrencies. Pepperstone supports copy trading, a feature unavailable at Questrade, which gives traders an opportunity to mirror successful strategies from other investors.
When considering investment opportunities in exchange-traded securities, Questrade stands out by allowing clients to purchase shares on U.S. and international exchanges, something that Pepperstone doesn't offer for non-CFD trades. This makes Questrade a favorable choice for those interested in buying stocks like Apple or Vodafone. In terms of range of investments, Questrade earns a higher rating with 5 stars compared to Pepperstone’s 4 stars. According to ForexBrokers.com, Questrade ranks at #11 for Range of Investments, while Pepperstone holds the #26 position among 63 brokers. This reflects Questrade's broader investment options and appeal to a varied investor base.
| Feature |
Pepperstone
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 641 |
| Forex Pairs (Total) | 65 | 110 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
Pepperstone and Questrade both offer traders a selection of robust platforms and tools. Both brokers provide a free virtual demo account, allowing users to practice and test strategies without risk. They each offer a proprietary platform developed in-house, along with Windows-based desktop and web-based trading platforms. However, when it comes to copy trading and platform variety, Pepperstone stands out by offering features like copy trading and compatibility with MetaTrader 4 (MT4) and MetaTrader 5 (MT5), whereas Questrade does not. Both brokers also support DupliTrade, but ZuluTrade is not available on either platform.
For charting enthusiasts, Pepperstone provides 30 drawing tools compared to Questrade's 20, while both brokers facilitate direct trading from a stock chart. When examining watchlist customization, Questrade offers greater flexibility with 52 columns compared to Pepperstone's 7. Despite these differences, both platforms are rated 4 stars for their trading platforms and tools. However, according to ForexBrokers.com, Pepperstone ranks slightly higher at 22nd out of 63 brokers, while Questrade is positioned at 34th. This indicates that both have strong offerings, but subtle differences in features may sway traders depending on their specific needs.
| Feature |
Pepperstone
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | Yes | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 64 |
| Charting - Drawing Tools (Total) | 30 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and Questrade both offer convenient mobile trading experiences with apps available for iPhone and Android devices. Each app supports essential features like stock and forex price alerts, watchlist symbol syncing, and the ability to draw trendlines on charts. Users can enjoy detailed charting options with multiple time frames and both apps automatically save drawings on the charts. Creating watchlists with real-time quotes is seamless on both platforms, providing traders with the tools they need to monitor and act on the market.
In terms of charting capabilities, Pepperstone offers 30 technical studies, while Questrade provides a more extensive selection with 64 studies. Despite these differences, both brokers have received a customer rating of 4 stars for their mobile trading apps. Pepperstone holds a mobile trading app ranking of #21 out of 63 brokers on ForexBrokers.com, slightly ahead of Questrade, which is ranked #34. Regardless, both platforms cater to users looking for reliable and feature-packed mobile trading solutions.
| Feature |
Pepperstone
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone stands out for its comprehensive market research offerings, providing daily market commentary and access to top-tier forex news sources like Bloomberg and Reuters. This gives traders timely insights and updates. Furthermore, Pepperstone offers effective research tools such as Autochartist for technical analysis and a sentiment-based trading tool that reveals trader positions. The availability of an economic calendar further broadens its resources for market monitoring. These features contribute to Pepperstone's strong research rating of 4.5 stars, securing it the 12th position among 63 brokers in the Research category by ForexBrokers.com.
In contrast, Questrade's research offerings include tools from Autochartist and Trading Central, plus access to TipRanks for market insights. These features ensure a well-rounded approach to market analysis and technical assessment. Questrade also includes an economic calendar, but lacks the daily market commentary and forex news from top-tier sources that Pepperstone provides. Though equipped with several tools, Questrade's effectiveness in research is rated lower at 3.5 stars, positioning it 51st in the same ranking of 63 brokers.
| Feature |
Pepperstone
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone and Questrade both provide educational resources for newcomers in forex and CFD trading. Each offers more than 10 educational materials, including articles and videos, catering to beginners. Pepperstone excels by providing frequent online educational webinars, held once a month, which offer interactive learning opportunities. Questrade, while having educational resources, doesn't conduct these monthly webinars. Both brokers house archives of past webinars for users to access any time, increasing the ease of learning at one's own pace.
For novice traders, Pepperstone stands out with a variety of beginner-focused videos. The platform extends its offerings to more advanced traders as well, providing at least 10 advanced videos. In contrast, Questrade lacks specialized content for advanced traders. Additionally, Pepperstone offers an investor dictionary with over 50 terms defined, which is an excellent tool for understanding complex trading concepts. Evaluated for educational quality, Pepperstone garners a 4.5-star rating, ranking #17 out of 63 brokers, while Questrade holds a 3.5-star rating, placing it at #36.
| Feature |
Pepperstone
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Pepperstone is better than Questrade. Pepperstone finished with an overall rank of #16, while Questrade finished with an overall rank of #32.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
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Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 86 |
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Both Pepperstone and Questrade do not offer the capability to purchase actual cryptocurrency, but they do provide options for buying cryptocurrency derivatives.
Pepperstone offers a more versatile array of fund transfer options including ACH, SEPA, PayPal, and Skrill, alongside Visa, Mastercard, and bank wires, whereas Questrade supports Visa, Mastercard, and bank wires but lacks options like ACH, SEPA, PayPal, and Skrill.
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 | Pepperstone | Questrade | |
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| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Questrade Review |
| Broker Screenshots | Pepperstone | Questrade | |
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| Regulation | Pepperstone | Questrade | |
|---|---|---|---|
| Trust Score | 95 | 86 | |
| Year Founded | 2010 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Pepperstone | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 641 | |
| Forex Pairs (Total) | 65 | 110 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | Pepperstone | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | Pepperstone | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Pepperstone | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | Yes | Yes | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 52 | |
| Charting - Indicators / Studies (Total) | 15 | 64 | |
| Charting - Drawing Tools (Total) | 30 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Pepperstone | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Pepperstone | Questrade | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Pepperstone Review | Questrade Review |
| Overall | Pepperstone | Questrade | |
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| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Questrade Review |
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