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.
Plus500 and Questrade are both well-established online trading platforms, but they differ in various aspects, especially regarding their trust and regulatory standings. Founded in 2008, Plus500 is publicly traded and holds a top-tier Trust Score rating of 99 from ForexBrokers.com, signifying high reliability. With six Tier-1 licenses, Plus500 is highly trusted in the market, offering reassurance to its users. Additionally, it holds three Tier-2 licenses, further cementing its reputation in financial circles.
In contrast, Questrade, established in 2000, remains a private entity with a Trust Score rating of 86, positioning it as trustworthy but slightly less so compared to its competitor. Questrade holds two Tier-1 licenses and no Tier-2 licenses, indicating a lower level of regulatory endorsement than Plus500. While both brokers are non-banking institutions, Plus500's broader regulatory compliance provides it with an edge for users prioritizing maximum trust and transparency.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Year Founded | 2008 | 2000 |
| Publicly Traded (Listed) | Yes | |
| Bank | ||
| 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 | ||
| ACH or SEPA Transfers | ||
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments available on Plus500 and Questrade, both platforms offer a diverse selection, yet they cater to different needs. Plus500 shines with a staggering total of 5,500 tradeable symbols, offering clients a wide array of choices. Forex enthusiasts will find 65 forex pairs available through CFDs. Additionally, Plus500 allows trading in exchange-traded securities on both U.S. and international exchanges, alongside cryptocurrency derivatives, although it does not offer actual delivered cryptocurrency.
Questrade delivers a more streamlined experience with 641 tradeable symbols but stands out in forex with 110 available pairs through CFDs. Much like Plus500, Questrade grants access to U.S. and international exchange-traded securities and offers cryptocurrency derivatives. Despite a slightly smaller selection overall, Questrade's investment range has been rated more favorably at 5 stars, compared to Plus500's 4.5 stars. Furthermore, in a review of 63 brokers by ForexBrokers.com, Questrade ranks higher at #11, while Plus500 stands at #21.
| 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 | ||
| Cryptocurrency (Physical) | ||
| 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 provide users with essential trading platforms and tools, catering to different types of traders. Both brokers offer simulated trading with free virtual demo accounts, allowing you to practice before committing real funds. Plus500 and Questrade have developed their proprietary platforms; Plus500 provides an easy-to-navigate web-based platform, while Questrade extends its offerings with a Windows-based desktop platform as well. Unlike Questrade, Plus500 doesn’t provide DupliTrade integration, which might be a consideration for those interested in advanced automation features.
When it comes to charting tools, Plus500 offers 36 drawing tools compared to Questrade's 20, allowing for more versatility in technical analysis. Questrade, however, supports trading directly from stock charts and has a more detailed watch list that can display up to 52 different fields, compared to Plus500's 10. In terms of performance, Plus500 holds a slightly higher rating at 4.5 stars and a better rank of #14 in the Trading Platforms and Tools category by ForexBrokers.com, compared to Questrade's 4 stars and #34 ranking, showcasing a slight edge for Plus500 in this area.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | ||
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| DupliTrade | Yes | |
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 115 | 64 |
| Charting - Drawing Tools (Total) | 36 | 20 |
| Charting - Trade From Chart | Yes | |
| Watchlists - Total Fields | 10 | 52 |
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When comparing the mobile trading apps of Plus500 and Questrade, both platforms provide robust functionality for iPhone and Android users, including access to stock and forex price alerts. They also offer synchronized watchlists, meaning users can make changes on the app that will reflect in their online account seamlessly. In terms of charting capabilities, Plus500 stands out by offering 115 technical studies compared to Questrade's 64 studies. Both apps allow users to draw trendlines and view various time frames on charts, catering to different trading strategies. However, Questrade's app has the edge of auto-saving chart drawings, a feature not available with Plus500.
Real-time quote watchlists are available on both platforms, ensuring traders stay updated with market movements. In terms of user feedback, Plus500 receives an impressive rating of 4.5 stars out of five, whereas Questrade has a commendable 4-star rating. Furthermore, ForexBrokers.com ranks Plus500 higher at position 14 out of 63 brokers, compared to Questrade's ranking at 34. These ratings and rankings suggest that while both apps provide excellent trading experiences, Plus500 may offer a slightly more comprehensive toolset for traders looking for advanced charting features.
| 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 | Yes | |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Plus500 and Questrade offer a range of market research tools and features, but they differ significantly in what they provide to users. Plus500 excels with daily market commentary, giving traders consistent insights into market trends and conditions. Although it doesn't provide forex news from top-tier sources like Bloomberg or Reuters, Plus500 compensates with tools like Trading Central and sentiment-based trading insights. Plus500 also offers an economic calendar, keeping traders informed about global news events and economic data releases. For its comprehensive research offerings, Plus500 earns a strong research rating of 4.0 stars and ranks 19th out of 63 brokers on ForexBrokers.com.
In contrast, Questrade lacks daily market commentary and sentiment-based trading tools, potentially leaving traders wanting more in terms of immediate market insights. However, it does feature tools from Autochartist and Trading Central, which can aid technical and fundamental analysis. Notably, Questrade provides market research from TipRanks, adding an extra layer of depth to its research capabilities. Like Plus500, Questrade offers an economic calendar, which is an essential tool for tracking global economic events. Despite these offerings, Questrade garners a slightly lower research rating of 3.5 stars and is ranked at 51 among 63 brokers for research by ForexBrokers.com, indicating room for improvement in its market research provisions.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | ||
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | |
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both Plus500 and Questrade provide a variety of options for those keen on learning about forex and CFDs. Both platforms offer more than ten educational pieces like articles, videos, and archived webinars focused on these topics. Plus500 shines with monthly online client webinars, while Questrade does not provide this feature. However, both brokers offer access to a searchable archive of recorded webinars, making it easier for learners to access past sessions at their convenience.
Both Plus500 and Questrade have more than ten beginner-friendly videos covering essential trading topics, making them both suitable for those new to trading. Plus500 scores extra points by also offering advanced educational videos for seasoned traders, which Questrade lacks. Neither broker offers an investor dictionary with over 50 defined investing terms. In terms of educational ratings, Plus500 earns 4.0 stars and ranks 31 out of 63 brokers according to ForexBrokers.com, placing it slightly ahead of Questrade, which has a 3.5-star rating and ranks 36. Overall, Plus500 seems to have a slight edge in educational offerings for those embarking on their trading journey.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | |
| Investor Dictionary (Glossary) |
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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While Plus500 does not allow users to purchase actual delivered cryptocurrency, both Plus500 and Questrade offer the capability to trade cryptocurrency derivatives.
Plus500 and Questrade both offer Visa, Mastercard, and bank wire options for deposits and withdrawals, but Plus500 additionally provides PayPal and Skrill services while neither supports 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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| Broker Gallery (click to expand) |
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| Regulation | Plus500 | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 2008 | 2000 | |
| Publicly Traded (Listed) | Yes | ||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| 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) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | Yes | ||
| Singapore (MAS Authorised) | Yes | ||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | Yes | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes |
| Tier-2 Licenses (Trusted) | Plus500 | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | ||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| 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 | |||
| Cryptocurrency (Physical) | |||
| 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 | |||
| Inactivity Fee | Yes | ||
| Execution: Agency Broker | Yes | ||
| Execution: Market Maker | Yes |
| Funding | Plus500 | Questrade | |
|---|---|---|---|
| Minimum Deposit | €50 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers |
| Trading Platforms | Plus500 | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | ||
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | |||
| MetaTrader 4 (MT4) | |||
| MetaTrader 5 (MT5) | |||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| 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 | 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 | Yes | ||
| Mobile Economic Calendar | Yes | Yes |
| Research | Plus500 | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | ||
| Forex News (Top-Tier Sources) | |||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | ||
| Economic Calendar | Yes | Yes |
| Education | Plus500 | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | ||
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | ||
| Investor Dictionary (Glossary) |
| 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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