Written by ForexBrokers.com
In this head to head comparison of Questrade vs Spreadex, 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 and Spreadex, both non-publicly traded companies without bank status, offer unique strengths for online trading enthusiasts. Established in 2000, Questrade holds two Tier-1 licenses, signaling a high level of trust according to ForexBrokers.com standards. This regulatory backing contributes to its Trust Score of 86, making it a reliable choice for investors. Conversely, Spreadex, founded in 1999, maintains one Tier-1 license and achieves a Trust Score of 71. Although rated as an average risk, Spreadex offers its own allure for users seeking alternative trading experiences.
While neither Questrade nor Spreadex holds Tier-2 licenses, both platforms ensure a secure environment within their regulatory frameworks. Prospective investors might favor Questrade for its higher trust rating and dual Tier-1 licenses, enhancing its credibility. However, Spreadex stands as a viable option for those who value its distinctive features, supported by respectable regulatory compliance. This detailed comparison assists users in making informed decisions when selecting an online broker, balancing trust scores and regulatory credentials.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Year Founded | 2000 | 1999 |
| 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 | 0 |
Questrade, a well-known online broker, offers a competitive trading experience, although its fees might be less appealing for some traders. Specifically, the target spread on the EUR/USD is set at 1.9 pips, which is considered quite steep compared to the industry standard. This higher spread contributes to its 3 out of 5 stars rating for commissions and fees. Among 63 brokers, Questrade holds the #58 position in the Commissions and Fees category according to ForexBrokers.com.
On the other hand, Spreadex presents a more favorable option for those watching their trading costs closely. In January 2024, it reported an average spread of 0.81 pips for EUR/USD, with a minimum spread of 0.6 pips achieved 60% of the time during the month. Thanks to these competitive rates, Spreadex earns a 4 out of 5 stars rating for commissions and fees. It ranks #27 out of 63 brokers in the same category, as per ForexBrokers.com.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $250 | $0 |
| Average Spread EUR/USD - Standard | N/A | 0.81 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Questrade and Spreadex both present a compelling array of investment options, but they cater to different trading needs. Questrade offers trading in 641 symbols, including 110 forex pairs, and provides access to U.S. and international exchange-traded securities such as Apple and Vodafone shares. This makes Questrade particularly appealing for those interested in a wide range of equity markets. In addition, Questrade supports forex trading via CFDs and offers cryptocurrency derivatives for more diversified trading strategies.
In contrast, Spreadex shines with its extensive offer of 10,000 tradeable symbols, including 52 forex pairs, although it doesn't offer direct access to exchange-traded securities on U.S. or international markets. Spreadex provides forex trading through CFDs and also features cryptocurrency derivatives. Despite these differences, both Questrade and Spreadex have received top ratings for their range of investments, earning five stars each. Ranked #11 and #13 respectively by ForexBrokers.com in this category, both platforms promise robust investment opportunities for traders.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 10000 |
| Forex Pairs (Total) | 110 | 52 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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). |
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Questrade and Spreadex both offer traders a variety of platforms and tools. For those who wish to practice before making real trades, both brokers provide simulated paper trading through free virtual demo accounts. Each broker features its own proprietary platform, an in-house developed system tailored to their specific offerings. Questrade supports a Windows-based desktop download platform alongside its web-based option, while Spreadex is limited to the latter. Neither platform includes popular third-party platforms like MetaTrader 4 or 5, and neither offers copy trading capabilities. However, Questrade provides access to DupliTrade, a service not available with Spreadex.
When it comes to charting tools, Questrade offers more flexibility, with 20 drawing tools available, compared to Spreadex's 11. Both allow traders to execute trades directly from stock charts, providing a streamlined trading experience. Questrade offers a significantly larger number of options for customizing watchlists with up to 52 columns, whereas Spreadex offers just 8. Despite these differences, both brokers receive a 4-star rating for their trading platforms and tools. However, in industry rankings, Questrade sits at #34, outperforming Spreadex, which ranks at #46 among 63 brokers, reflecting subtle distinctions in their offerings and user assessments.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 58 |
| Charting - Drawing Tools (Total) | 20 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 8 |
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When comparing the mobile trading apps of Questrade and Spreadex, both cater to iPhone and Android users, providing convenience across devices. Each platform allows users to set up alerts for stock or forex prices, ensuring that traders stay informed on market movements. While both offer the capability of drawing trendlines and viewing various time frames on charts, Questrade stands out with its watchlist symbol syncing feature, syncing your watchlist seamlessly between the mobile app and your online account—a feature Spreadex lacks. Additionally, Questrade provides 64 technical studies for its charting, enriching the data analysis experience, whereas Spreadex doesn't specify such offerings. Another point in favor of Questrade is its auto-save feature for chart drawings, which Spreadex does not include.
Both apps enable users to set up watchlists with real-time quotes. In terms of user satisfaction, both Questrade and Spreadex receive a solid four-star rating for their mobile trading apps. However, Questrade is ranked higher in the Mobile Trading Apps category by ForexBrokers.com, coming in at 34th place out of 63 brokers, compared to Spreadex's position at 46th. This ranking might reflect Questrade's additional app features, which could enhance the overall user experience for traders seeking comprehensive and synchronized tools.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings between Questrade and Spreadex, it's clear both online brokers provide unique benefits. Spreadex stands out with their daily market commentary and direct forex news from esteemed sources such as Bloomberg and Reuters, keeping traders well-informed with real-time updates. In contrast, Questrade shines in its inclusion of multiple analysis and research tools, providing access to both Autochartist and Trading Central's technical analytics, offering traders comprehensive insights for informed decision-making. Moreover, Questrade also provides market research through TipRanks, adding another layer of valuable data for its users, whereas Spreadex lacks this feature.
Regarding advanced trading tools and rankings, both brokers have an economic calendar service that displays essential global economic events, supporting traders across different markets. However, Spreadex enhances its platform further with a sentiment-based trading tool, allowing users to assess market positioning and sentiment. In terms of industry recognition, Spreadex holds a higher research rating of four stars versus Questrade's 3.5 stars from ForexBrokers.com and ranks higher among 63 brokers, coming in at #31 compared to Questrade's rank at #51. Overall, choosing between the two depends on whether daily updates or comprehensive technical tools are more critical to your trading strategy.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | Yes | No |
| 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 Questrade and Spreadex are committed to providing ample learning materials. Each platform offers at least ten educational pieces focused on forex and CFDs, ensuring that beginners have access to essential content like articles and videos. Where Questrade sets itself apart is with its extensive library of archived client webinars that are easily searchable, providing a valuable resource even though they don't host monthly live webinars. On the other side, Spreadex may not offer this feature, but it does include a comprehensive investor dictionary with over fifty investing terms, helping newcomers get familiar with important terminology.
Both platforms cater to beginners by providing over ten educational videos specifically designed to break down trading concepts, but they fall short when it comes to advanced content for experienced traders. In terms of overall educational ratings, Spreadex slightly edges out Questrade with a 4-star rating compared to Questrade’s 3.5 stars. Despite its higher user rating, Spreadex is ranked slightly lower at #45 among 63 brokers, whereas Questrade is ranked #36 according to ForexBrokers.com. Overall, beginners have access to strong foundational resources with either broker, but each platform has unique offerings that cater to different learning preferences.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | Yes |
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 Spreadex. Questrade finished with an overall rank of #32, while Spreadex finished with an overall rank of #39.
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
|
Spreadex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 71 |
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Both Questrade and Spreadex do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to invest in cryptocurrency derivatives.
Both Questrade and Spreadex provide options for depositing and withdrawing account funds via Visa, Mastercard, and bank wires, but neither supports ACH, SEPA, PayPal, or Skrill transactions.
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 | Spreadex | |
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| Trust Score | 86 | 71 | |
| Winner | check_circle | ||
| Review | Questrade Review | Spreadex Review |
| Broker Screenshots | Questrade | Spreadex | |
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| Regulation | Questrade | Spreadex | |
|---|---|---|---|
| Trust Score | 86 | 71 | |
| Year Founded | 2000 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Questrade | Spreadex | |
|---|---|---|---|
| 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 | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Questrade | Spreadex | |
|---|---|---|---|
| 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 | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 10000 | |
| Forex Pairs (Total) | 110 | 52 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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). |
| Cost | Questrade | Spreadex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 0.81 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $250 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Questrade | Spreadex | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 8 | |
| Charting - Indicators / Studies (Total) | 64 | 58 | |
| Charting - Drawing Tools (Total) | 20 | 11 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | Spreadex | |
|---|---|---|---|
| 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 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Questrade | Spreadex | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | Spreadex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Questrade | Spreadex | |
|---|---|---|---|
| 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 | Spreadex Review |
| Overall | Questrade | Spreadex | |
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| Trust Score | 86 | 71 | |
| Winner | check_circle | ||
| Review | Questrade Review | Spreadex Review |
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