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 trusted choice among online brokers. With a ForexBrokers.com Trust Score of 86, it falls within the "trusted" category. Questrade holds two Tier-1 licenses, indicating a high level of security and trust in their operations. Though it is neither publicly traded nor a bank, Questrade has built a solid reputation for providing reliable services in the financial market.
RoboForex, founded in 2009, is also a noteworthy player in the brokerage industry. It has a ForexBrokers.com Trust Score of 73, placing it in the "average risk" category. RoboForex holds one Tier-1 license, providing some assurance of its reliability. Like Questrade, RoboForex is not listed on a stock exchange and does not operate as a bank. Both platforms offer distinct features, catering to various investor needs, while maintaining different levels of trust and regulatory oversight.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Year Founded | 2000 | 2009 |
| Publicly Traded (Listed) | ||
| Bank | ||
| 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 | Yes | |
| ACH or SEPA Transfers | Yes | |
| 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.
Questrade and RoboForex both provide a variety of opportunities for investors, but they cater to different needs. Questrade offers a wide range of exchange-traded securities on both U.S. and international exchanges. This makes it ideal for investors seeking to purchase actual stocks, such as Apple or Vodafone. In contrast, RoboForex does not provide direct access to these securities. However, both platforms offer services in forex trading, with Questrade providing access to 110 tradeable forex pairs compared to RoboForex’s 28. RoboForex leads in the total number of tradeable symbols, boasting 8400 compared to Questrade’s 641.
When it comes to cryptocurrency trading, both platforms offer derivatives but not the actual cryptocurrencies. RoboForex distinguishes itself by offering copy trading, allowing investors to emulate the trades of experienced users, a feature absent from Questrade's offerings. In terms of rankings, Questrade is positioned higher at #11 in the Range of Investments category compared to RoboForex at #20 according to ForexBrokers.com. While Questrade holds a five-star rating, RoboForex closely follows with a 4.5-star rating, reflecting its diverse range despite lacking some direct investment options.
| 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 | |
| Int'l Stock Trading (Non CFD) | Yes | |
| Social Trading / Copy Trading | Yes | |
| 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). |
Dive deeper: Best Copy Trading Platforms.
Questrade and RoboForex both offer unique strengths when it comes to trading platforms and tools. Questrade provides a range of options, including a proprietary platform developed in-house, and supports paper trading through a free virtual demo account. Traders can access both a Windows-based desktop platform and a web-based platform with Questrade, and benefit from the integration of DupliTrade for enhanced trading strategies. Moreover, Questrade stands out with its trading capability directly from stock charts and allows for more detailed watch lists with 52 columns for customization. While Questrade doesn't offer MetaTrader 4 or 5, the platform is still highly rated with 4 stars for its trading tools.
RoboForex, on the other hand, shines with its support for popular platforms like MetaTrader 4 and MetaTrader 5, appealing to traders who prefer these widely-used platforms. RoboForex also offers copy trading, making it appealing for those interested in mirroring successful traders’ strategies. Like Questrade, RoboForex offers both desktop and web-based trading platforms and provides a demo account for simulated trading. However, RoboForex falls short in customization options for watch lists, providing only seven columns. Despite fewer drawing tools compared to Questrade, RoboForex maintains a competitive edge with its broader platform support and is equally rated at 4 stars for its trading platforms and tools. Moreover, it is ranked slightly lower by ForexBrokers.com at #43 compared to Questrade’s #34 ranking among 63 brokers.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | |
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | Yes | |
| DupliTrade | Yes | |
| ZuluTrade | ||
| 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.
Both Questrade and RoboForex excel in providing comprehensive mobile trading experiences, as confirmed by the availability of their apps on both iPhone and Android platforms. They allow users to receive price alerts and create watchlists with real-time quotes, enhancing the flexibility and responsiveness of their trading activities. However, a key difference lies in the syncing of watchlist symbols. Questrade offers seamless integration across devices, syncing watchlist changes between its mobile app and online account, a feature not available with RoboForex. Moreover, Questrade stands out in charting capabilities, offering 64 technical studies compared to RoboForex’s 30, giving users a broader range of analysis tools.
Both apps allow traders to draw trendlines, view various timeframes, and auto-save their chart drawings, ensuring a consistent and tailored trading experience. The user rating of four stars for both platforms indicates a high level of satisfaction among traders. However, when it comes to industry rankings, Questrade edges ahead, positioned at 34 out of 63 brokers as compared to RoboForex's ranking at 43. This suggests that while both apps perform well, Questrade may offer a slightly more advanced feature set and user experience, especially for those who prioritize extensive charting tools and cross-platform functionality.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | |
| 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 comparing Questrade and RoboForex in terms of market research, each platform has its unique strengths. RoboForex stands out by offering daily market commentary and providing forex news from top-tier sources like Bloomberg and Reuters, which Questrade does not. On the other hand, Questrade shines with specific research tools from Autochartist and offers valuable market research through TipRanks, while RoboForex provides tools from Acuity Trading. Both platforms give access to technical analysis tools from Trading Central and include an economic calendar to keep traders updated on global events.
Both Questrade and RoboForex score 3.5 out of five stars for research. However, RoboForex holds a higher ranking in the research category by ForexBrokers.com, coming in at #37 out of 63 brokers, compared to Questrade's position at #51. This analysis indicates that while both brokers offer valuable resources, the choice may depend on the trader's preference for specific types of research and analysis tools.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | ||
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | Yes | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners offered by Questrade and RoboForex, Questrade appears to provide a more comprehensive learning experience. Questrade offers at least ten educational pieces focused on forex and CFDs, along with a searchable archive of previously recorded client webinars. These resources are supplemented by at least ten beginner videos, making it easier for new traders to understand trading concepts. However, Questrade does not provide a monthly online educational client webinar or advanced educational videos targeting experienced traders. Despite these gaps, Questrade receives a rating of 3.5 stars for education.
On the other hand, RoboForex lacks many of the educational resources that Questrade offers. It does not provide a minimum of ten educational pieces focused on forex or CFDs, and it does not have a searchable archive of recorded webinars. Furthermore, RoboForex does not offer beginner or advanced educational videos nor monthly client webinars. With these limitations, RoboForex also scores 3.5 stars in education but ranks lower at #56 out of 63 brokers, while Questrade ranks #36. This comparison suggests that although both brokers have room for improvement, Questrade currently offers more educational support for beginners than RoboForex.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | |
| Client Webinars | ||
| Client Webinars (Archived) | Yes | |
| Videos - Beginner Trading Videos | Yes | |
| Videos - Advanced Trading Videos | ||
| 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 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
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RoboForex
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|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 73 |
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While Questrade does not provide the option to purchase actual (delivered) cryptocurrency, it does offer cryptocurrency derivatives; similarly, RoboForex also lacks the feature to buy actual cryptocurrencies but allows for cryptocurrency derivatives trading.
When comparing online brokers, Questrade and RoboForex, it's important to note that while both platforms offer Visa, Mastercard, and bank wire options for depositing or withdrawing funds, RoboForex has the added advantage of supporting ACH, SEPA transfers, PayPal, and Skrill, which are not offered by Questrade.
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 | Questrade | RoboForex | |
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| Trust Score | 86 | 73 | |
| Winner | check_circle | ||
| Review | Questrade Review | RoboForex Review |
| Broker Screenshots | Questrade | RoboForex | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | Questrade | RoboForex | |
|---|---|---|---|
| Trust Score | 86 | 73 | |
| Year Founded | 2000 | 2009 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | 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) | |||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | |||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | |||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes |
| Tier-2 Licenses (Trusted) | Questrade | RoboForex | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | |||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| 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 | ||
| Int'l Stock Trading (Non CFD) | Yes | ||
| Social Trading / Copy Trading | Yes | ||
| 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). |
| 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 | Yes | ||
| Inactivity Fee | Yes | ||
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes |
| Funding | Questrade | RoboForex | |
|---|---|---|---|
| Minimum Deposit | $250 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes |
| Trading Platforms | Questrade | RoboForex | |
|---|---|---|---|
| Proprietary Platform | Yes | ||
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | Yes | ||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| 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 | ||
| 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 | Yes | ||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | |||
| Economic Calendar | Yes | Yes |
| Education | Questrade | RoboForex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | ||
| Client Webinars | |||
| Client Webinars (Archived) | Yes | ||
| Videos - Beginner Trading Videos | Yes | ||
| Videos - Advanced Trading Videos | |||
| Investor Dictionary (Glossary) |
| 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 | |
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| Trust Score | 86 | 73 | |
| Winner | check_circle | ||
| Review | Questrade Review | RoboForex Review |
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