Written by ForexBrokers.com
In this head to head comparison of Plus500 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.
When comparing the online brokers Plus500 and Questrade, several factors stand out, especially regarding their regulatory credentials. Plus500, founded in 2008, is publicly traded and holds 6 Tier-1 licenses, earning it a Trust Score of 99 from ForexBrokers.com. These features contribute to Plus500 being considered highly trusted. By contrast, Questrade, founded in 2000, is not publicly traded but holds 2 Tier-1 licenses and has a Trust Score of 86, categorizing it as trusted. Neither broker functions as a bank, ensuring a focused experience for investors.
While both Plus500 and Questrade have solid standings, Plus500's stronger regulatory presence with additional Tier-2 licenses highlights its dedication to safety and reliability. With Plus500's presence on a stock exchange and a perfect Trust Score, it may offer a heightened sense of security for investors compared to Questrade, which also maintains a trusted reputation but lacks the same level of licensing credentials and public company status.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Year Founded | 2008 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 2 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
When comparing the fees and commissions of online brokers, Plus500 and Questrade differ mainly in their pricing approaches and star ratings. Plus500's pricing is slightly higher than the industry average, with no discounts available for retail clients. However, they do offer cash rebates for those who qualify as Professional clients. In contrast, Questrade, while offering a higher target spread of 1.9 pips on the EUR/USD, which is considered steep compared to industry standards, holds its own in other fee structures.
Specific to the EUR/USD pair, Plus500's spreads averaged 1.5 pips for April 2024, which is above the industry norm. Meanwhile, Questrade's target spread for the same currency pair is even steeper at 1.9 pips. This difference impacts their ratings, with Plus500 scoring 4.0 out of 5 stars for commissions and fees. In contrast, Questrade holds a 3-star rating, reflecting their higher costs.
In terms of rankings by ForexBrokers.com for the Commissions and Fees category, Plus500 is positioned at #23 out of 63 brokers, showcasing its competitive edge over Questrade, which finds itself further down the list at #58. These rankings highlight the distinct cost advantages of Plus500 over its counterpart for clients mindful of trading expenses.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Minimum Deposit | €50 | $250 |
| Average Spread EUR/USD - Standard | 1.3 | N/A |
| All-in Cost EUR/USD - Active | 1.3 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | 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.
Plus500 and Questrade both offer a comprehensive selection of investment opportunities, but they cater to slightly different trading preferences. Plus500 provides access to a vast array of 5,500 tradable symbols, including Contracts for Difference (CFDs) on forex, with 65 forex pairs available. They also support trading exchange-traded securities from both U.S. and international markets, allowing investors to buy shares such as Apple and Vodafone. However, Plus500 does not facilitate the direct purchase of actual cryptocurrency, offering cryptocurrency derivatives instead. Despite this, Plus500 earns a commendable 4.5 stars for its range of investments, ranking 21st among 63 brokers according to ForexBrokers.com.
Questrade, on the other hand, offers a more modest selection of 641 tradable symbols but excels in forex trading with access to 110 forex pairs. Like Plus500, it allows trading of exchange-listed securities on U.S. and international exchanges, providing access to popular stocks such as those from the NASDAQ and London Stock Exchange. Although Questrade also doesn't offer direct cryptocurrency purchases, it supports crypto derivatives. Rated 5 stars for its range of investments, Questrade ranks 11th in the ForexBrokers.com list, making it a strong contender for investors seeking a well-rounded platform with a focus on extensive forex options.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 641 |
| Forex Pairs (Total) | 65 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
Dive deeper: Best Copy Trading Platforms.
Plus500 and Questrade both offer a range of trading platforms and tools, each with unique features. Plus500 provides a web-based trading platform and a proprietary platform developed in-house. It also includes a strong selection of 36 drawing tools for charting. Traders can benefit from a free virtual demo account to practice their strategies without any risk. However, Plus500 does not offer a Windows-based desktop download platform, MetaTrader options, or the capability to trade directly from a stock chart, and it lacks copy trading services. Despite these limitations, Plus500 has impressively scored 4.5 stars out of five for trading platforms and tools, and it ranks 14th among 63 brokers according to ForexBrokers.com.
Questrade, in comparison, provides both proprietary and web-based platforms along with a Windows-based desktop option, offering greater flexibility in terms of access. It is also notable for granting the capability to trade directly from stock charts, and supports DupliTrade for enhanced trading opportunities. However, like Plus500, it does not support MetaTrader extensions or copy trading. A highlight of Questrade is its robust watch list feature, with 52 customizable columns. Despite these advantages, it is rated slightly lower than Plus500, with a rating of 4 stars, and holds the 34th position out of 63 brokers in the Trading Platforms and Tools category on ForexBrokers.com.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 115 | 64 |
| Charting - Drawing Tools (Total) | 36 | 20 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 10 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading, both Plus500 and Questrade offer comprehensive solutions for iPhone and Android users. Each app provides essential features such as stock and forex price alerts, as well as watchlist symbol syncing between the mobile app and the online account. This makes it easy to stay updated on your investments anytime, anywhere. While both platforms allow for drawing trendlines and viewing different timeframes on charts, there are notable differences in the technical studies offered. Plus500 provides an impressive 115 technical studies for charting, significantly more than Questrade's 64 options.
Additionally, Questrade distinguishes itself by auto-saving drawings on charts, a feature not available on Plus500. Both apps support creating watchlists with real-time quotes, providing crucial market insights at your fingertips. In terms of user satisfaction, Plus500's app is rated higher, achieving 4.5 stars compared to Questrade's 4 stars. Furthermore, according to ForexBrokers.com, Plus500 ranks 14th out of 63 brokers for mobile trading apps, while Questrade stands at 34th. This suggests a higher overall user satisfaction and a well-rounded mobile trading experience with Plus500.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 115 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings, Plus500 and Questrade present distinct advantages. Plus500 stands out with its daily market commentary and sentiment-based trading tool, which provides insights into trader positions across various instruments. It also features tools from Trading Central and a comprehensive economic calendar that highlights major global news events. However, it lacks forex news from top-tier sources like Bloomberg or Reuters and doesn't offer tools from Autochartist or TipRanks.
In contrast, Questrade provides access to Autochartist's technical analysis tools and market research from TipRanks, catering to users who seek in-depth research capabilities. Despite this, it does not offer daily market commentary or a sentiment-based trading tool. It matches Plus500 in offering an economic calendar and Trading Central tools. In independent rankings, Plus500 receives a higher research rating of 4.0 stars and ranks 19th among 63 brokers, while Questrade garners a 3.5-star rating and ranks 51st, showcasing Plus500's edge in research offerings.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | No | |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | 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.
When it comes to educational resources for beginners, both Plus500 and Questrade offer a solid foundation with at least 10 educational pieces focused on forex and CFDs. However, Plus500 stands out with its commitment to hosting online educational webinars every month and providing access to a library of past webinars. Both platforms maintain archives of recorded webinars, allowing users to revisit the content at their convenience. For those taking their first steps in trading, both online brokers offer at least 10 beginner-friendly videos, thus catering well to novice traders.
Plus500 scores higher with educational resources designed for more seasoned traders, offering over 10 advanced educational videos, a feature that Questrade does not match. Neither platform provides a comprehensive investor dictionary, but Plus500's 4.0-star rating outshines Questrade's 3.5 stars in the education category. In terms of rank, Plus500 secures the 31st spot out of 63 brokers on ForexBrokers.com, positioning itself ahead of Questrade, which ranks at #36, suggesting a slightly more favorable educational offering for those beginning their trading journey.
| Feature |
Plus500
|
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) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Plus500 is better than Questrade. Plus500 finished with an overall rank of #14, while Questrade finished with an overall rank of #32.
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to a thorough selection of CFDs. Share trading is available, but only via its Plus500 Invest product offering.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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Both Plus500 and Questrade allow investors to trade cryptocurrency derivatives but do not offer the option to purchase actual, delivered cryptocurrency.
In comparing online brokers Plus500 and Questrade, both support Visa, Mastercard, and bank wire transactions for funding accounts, but Plus500 offers additional flexibility with PayPal and Skrill, which are not available with Questrade; neither broker facilitates ACH or SEPA transfers.
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 | Plus500 | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Plus500 Review | Questrade Review |
| Broker Screenshots | Plus500 | Questrade | |
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| Regulation | Plus500 | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 2008 | 2000 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 6 | 2 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | Plus500 | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Plus500 | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | Plus500 | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 641 | |
| Forex Pairs (Total) | 65 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
| Cost | Plus500 | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.3 | N/A | |
| All-in Cost EUR/USD - Active | 1.3 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | Plus500 | Questrade | |
|---|---|---|---|
| Minimum Deposit | €50 | $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 | No | No |
| Trading Platforms | Plus500 | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | Plus500 | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 10 | 52 | |
| Charting - Indicators / Studies (Total) | 115 | 64 | |
| Charting - Drawing Tools (Total) | 36 | 20 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Plus500 | 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 | 115 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Plus500 | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | ||
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Plus500 | 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) | No | No |
| Major Forex Pairs | Plus500 | 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 | Plus500 Review | Questrade Review |
| Overall | Plus500 | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Plus500 Review | Questrade Review |
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