Written by ForexBrokers.com
In this head to head comparison of Questrade vs RoboForex, 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.
Questrade, established in 2000, is a Canadian online broker renowned for its investment services. Not listed on any stock exchange and not functioning as a bank, Questrade has nonetheless earned a commendable position in the realm of online trading. Holding two Tier-1 licenses, Questrade achieves a solid Trust Score of 86 out of 99 from ForexBrokers.com, categorizing it as a trusted broker. This level of trust reflects its regulatory compliance and commitment to offering secure trading opportunities.
On the other hand, RoboForex, which entered the market in 2009, offers a variety of trading services. Like Questrade, it neither trades publicly nor operates as a bank. RoboForex holds one Tier-1 license, and with a Trust Score of 73 according to ForexBrokers.com, it is regarded as having an average risk level. This makes RoboForex a viable choice for those who appreciate competitive trading conditions balanced with moderate regulatory assurance.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Year Founded | 2000 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When comparing Questrade and RoboForex on commissions and fees, both have distinct pricing approaches that might appeal to different investors. Questrade, with a target spread of 1.9 pips on the EUR/USD, is slightly above the industry average, which might not be ideal for cost-conscious traders. This Canadian-based broker is rated 3 out of 5 stars for its commissions and fees, placing it at #58 among 63 brokers ranked by ForexBrokers.com.
In contrast, RoboForex presents more competitive pricing for its Procent and Pro accounts with average spreads of 1.3 pips on EUR/USD. While this spread is considered high, it is still lower compared to Questrade's offering, providing a somewhat more cost-effective option for users. With a slight edge, RoboForex has earned a rating of 3.5 stars and ranks #55 out of 63 brokers in the Commissions and Fees category by ForexBrokers.com.
Overall, while both brokers are fairly close in ranks and ratings, RoboForex slightly outperforms Questrade in terms of competitive pricing. This might make RoboForex the better option for those specifically focusing on minimizing trading costs. However, it's essential for potential users to consider other factors such as trading tools and platforms before making a final decision.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Minimum Deposit | $250 | $100 |
| Average Spread EUR/USD - Standard | N/A | 1.3 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | 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 offered by Questrade and RoboForex, both platforms provide opportunities for forex trading as CFDs. However, the diversity of their tradeable symbols significantly differs. Questrade offers 641 tradeable symbols, with a focus on providing a wider selection of forex pairs—110 to be precise. In contrast, RoboForex boasts a vast selection of 8,400 tradeable symbols but offers only 28 forex pairs. For those interested in exchange traded securities on U.S. and international exchanges, Questrade holds the advantage, allowing clients to invest in well-known companies like Apple and Vodafone. RoboForex does not provide access to these securities but compensates with features like copy trading, which Questrade does not offer.
Both Questrade and RoboForex allow clients to trade cryptocurrency derivatives, although neither supports the purchase of actual cryptocurrencies. In terms of investment range ratings, Questrade shines with a full 5-star rating and ranks #11 out of 63 brokers on ForexBrokers.com. RoboForex still performs well with a 4.5-star rating and holds the #20 spot. This comparison highlights that while Questrade provides broader access to traditional securities, RoboForex excels in offering a larger array of overall tradeable symbols, appealing to diverse trading preferences.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 8400 |
| Forex Pairs (Total) | 110 | 28 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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.
When comparing Questrade and RoboForex for trading platforms and tools, both brokers offer a virtual demo account for simulated trading, allowing traders to test strategies before committing real capital. Questrade stands out with its own proprietary platform, in addition to a Windows-based desktop download and web-based platform. In contrast, RoboForex lacks a proprietary system but supports popular platforms like MetaTrader 4 and MetaTrader 5, making it attractive for traders familiar with those systems. RoboForex also offers copy trading functionality, a feature absent in Questrade. However, Questrade incorporates DupliTrade, broadening its appeal to those interested in automated trading systems.
Charting capabilities are another point of comparison, as Questrade provides 20 drawing tools, slightly more than RoboForex's 15. Both allow trading directly from stock charts, enhancing the user experience. For watch lists, Questrade offers a more comprehensive setup with 52 fields for customization, considerably more than RoboForex's 7 fields. Both brokers receive a 4-star rating for their trading platforms and tools, although Questrade ranks higher at 34 out of 63 in ForexBrokers.com's reviews compared to RoboForex's rank at 43. These features make Questrade appealing to those seeking in-depth customization, while RoboForex attracts traders looking for MetaTrader support and copy trading options.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Questrade and RoboForex provide access for iPhone and Android users, facilitating trading on the go. Traders can set stock or forex price alerts through both platforms, ensuring they stay informed of market changes. However, Questrade offers syncing for watchlist symbols with your online account, providing seamless updates across devices, which RoboForex does not offer. In terms of charting tools, Questrade provides a more extensive selection with 64 technical studies, compared to RoboForex's 30, while both apps allow drawing trendlines and viewing multiple time frames.
Further enhancing user experience, both apps auto-save chart drawings and offer the creation of watchlists with real-time quotes. In terms of ratings, both brokers garnered 4 out of 5 stars for their mobile trading apps. However, according to ForexBrokers.com, Questrade ranks slightly higher at 34th out of 63 brokers, whereas RoboForex stands at 43rd. This suggests that while both platforms are competent, Questrade might offer a slight edge in certain features and user satisfaction.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| 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.
When it comes to market research offerings, Questrade and RoboForex cater to different needs. RoboForex provides daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters, making it an attractive choice for those seeking timely information. In contrast, Questrade shines with its array of technical analysis tools, including those from Autochartist and Trading Central, catering to traders focused on analysis rather than news. Additionally, Questrade offers research from TipRanks, providing another layer of valuable insights. However, for a sentiment-based trading tool, neither platform offers this feature.
Both platforms ensure users stay informed with economic calendars that display current and upcoming global events. While Questrade and RoboForex both receive a research rating of 3.5 stars, ForexBrokers.com ranks RoboForex slightly higher in its research category. This distinction highlights RoboForex’s edge in providing comprehensive daily updates and reputable news sources, whereas Questrade's strength lies in its advanced technical analysis offerings. Ultimately, your choice will depend on whether you prioritize daily news consumption or in-depth analysis tools.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available to beginners on Questrade and RoboForex, it's evident that Questrade has the edge. Questrade provides a collection of over 10 educational pieces specifically focusing on forex or CFDs, which is a significant advantage for new traders seeking to understand these complex markets. They also offer a searchable archive of recorded webinars, allowing users to access valuable learning materials at their convenience. Additionally, with more than 10 beginner educational videos, those new to trading can find helpful content tailored to their skill level. In contrast, RoboForex does not offer the same depth of beginner-focused content, lacking in both a comprehensive collection of forex or CFDs educational pieces and beginner videos.
While neither platform offers monthly webinars or a comprehensive investor dictionary, both Questrade and RoboForex share a common limitation in not providing advanced educational videos. Despite these limitations, Questrade is ranked higher at 36th place in the Education category of 63 brokers, compared to RoboForex's 56th place. Both platforms receive a 3.5 out of 5-star rating for their educational offerings, but Questrade's ranking suggests that beginners may have a more supportive learning environment with Questrade's resources.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | 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 Questrade is better than RoboForex. Questrade finished with an overall rank of #32, while RoboForex finished with an overall rank of #46.
Regulated in both the U.S. and Canada, Questrade is a trusted full-service multi-asset broker now offering forex and CFDs alongside its stock trading services for active and passive investors. While its scope of educational resources and in-house research is limited, Questrade has an impressive platform lineup.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 86 | 73 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Questrade and RoboForex do not offer the ability to buy actual delivered cryptocurrency, but they both provide the option to purchase cryptocurrency derivatives.
When comparing online brokers Questrade and RoboForex, it is noteworthy that RoboForex provides a wider range of deposit and withdrawal options, supporting ACH, SEPA, PayPal, and Skrill transactions, in addition to Visa, Mastercard, and bank wires, whereas Questrade is limited to Visa, Mastercard, and bank wire options only.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Questrade | RoboForex | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 73 | |
| Winner | check_circle | ||
| Review | Questrade Review | RoboForex Review |
| Broker Screenshots | Questrade | RoboForex | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) | |||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | Questrade | RoboForex | |
|---|---|---|---|
| Trust Score | 86 | 73 | |
| Year Founded | 2000 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Questrade | RoboForex | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | Yes | No | |
| 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) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Questrade | RoboForex | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Questrade | RoboForex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 8400 | |
| Forex Pairs (Total) | 110 | 28 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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 | Questrade | RoboForex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.3 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | RoboForex | |
|---|---|---|---|
| Minimum Deposit | $250 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | Questrade | RoboForex | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | RoboForex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | RoboForex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| 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 | Questrade | RoboForex | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | RoboForex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | No |
| Major Forex Pairs | Questrade | RoboForex | |
|---|---|---|---|
| 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 | Questrade Review | RoboForex Review |
| Overall | Questrade | RoboForex | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 73 | |
| Winner | check_circle | ||
| Review | Questrade Review | RoboForex Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill