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.
When comparing the regulatory standing of two well-established online brokers, Questrade and Spreadex, there are notable distinctions to consider. Founded in 2000, Questrade stands as a prominent player in the online trading space, boasting two Tier-1 licenses. This contributes to its healthy Trust Score of 86 out of 99, as rated by ForexBrokers.com, marking it as a trusted choice among investors. On the other hand, Spreadex, founded in 1999, holds one Tier-1 license and a Trust Score of 71. This places it in the average risk category, which is a point to consider for those evaluating their broker options. Neither Questrade nor Spreadex are publicly traded entities, nor are they banks, which can influence the overall perception of security and reliability among potential users.
In essence, while both brokers have a significant presence in the market, Questrade edges ahead in terms of trustworthiness based on the licenses and Trust Scores evaluated by ForexBrokers.com. Investors seeking a broker with a strong regulatory background might find Questrade more appealing due to its higher trust rating and multiple Tier-1 licenses. Conversely, Spreadex offers its own appeal but at a slightly higher perceived risk based on its Trust Score. These factors are essential for traders considering various options in the online trading sphere.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Year Founded | 2000 | 1999 |
| Publicly Traded (Listed) | ||
| Bank | ||
| 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 | ||
| ACH or SEPA Transfers | ||
| PayPal (Deposit/Withdraw) | ||
| Skrill (Deposit/Withdraw) | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment offerings of Questrade and Spreadex, it's clear that both platforms provide strong choices for investors, but their strengths lie in different areas. Questrade offers access to 641 tradeable symbols, including 110 forex pairs, emphasizing a solid range of forex and securities options. Investors in North America can also benefit from the ability to purchase exchange traded securities on U.S. exchanges, like Apple, and international exchanges, such as Vodafone. This makes Questrade a versatile choice for those looking to diversify their portfolios with both domestic and international stocks alongside extensive forex options.
On the other hand, Spreadex shines with an impressive 10,000 tradeable symbols, but offers fewer forex pairs, standing at 52. While the platform does not explicitly provide exchange traded securities from U.S. and international exchanges, it boasts a significant array of choices for those interested in CFD trading across various markets. Additionally, both Questrade and Spreadex offer cryptocurrency derivatives, allowing investors to dip into the crypto market without owning the actual cryptocurrencies. Despite their different approaches, both platforms earn a solid 5-star rating for their range of investments, with Questrade ranked 11th and Spreadex 13th out of 63 brokers by ForexBrokers.com.
| 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 | |
| Int'l Stock Trading (Non CFD) | 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). |
Dive deeper: Best Copy Trading Platforms.
Both Questrade and Spreadex provide users with free virtual demo accounts, allowing traders to practice with simulated trading before committing real funds. Each broker offers proprietary trading platforms, showcasing software developed in-house. Questrade extends its reach by providing a Windows-based desktop download option, whereas Spreadex focuses on their web-based platform without a downloadable desktop version. Both platforms also offer seamless web-based access, ideal for trading directly through an internet browser. However, neither broker supports widely used platforms like MetaTrader 4 or MetaTrader 5.
When it comes to charting tools, Questrade has the upper hand, offering 20 drawing tools compared to Spreadex's 11. This enables a more detailed charting experience for Questrade users. With the ability to trade directly from stock charts, both platforms make it easy for users to make quick decisions. Additionally, Questrade’s watch lists are customizable with up to 52 columns, far exceeding Spreadex's 8 columns. This flexibility allows for more detailed market monitoring. Despite their differences, both brokers receive a solid 4-star rating for Trading Platforms and Tools, ranking 34th for Questrade and 46th for Spreadex out of 63 brokers evaluated by ForexBrokers.com.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| 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) | 64 | 58 |
| Charting - Drawing Tools (Total) | 20 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 8 |
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Both Questrade and Spreadex provide mobile trading apps that cater to iPhone and Android users, ensuring a convenient trading experience on the go. Both apps support stock and forex price alerts, allowing traders to stay updated on market movements. When it comes to syncing watchlist symbols between the mobile app and online account, Questrade stands out by offering this feature, enabling a seamless transition between devices. While both platforms allow users to draw trend lines and view various time frames on charts, Questrade offers an additional advantage with its collection of 64 technical studies, compared to Spreadex, which does not provide this information.
Another benefit of the Questrade app is its capability to auto-save drawing tools on charts, a feature not mentioned for Spreadex. Both apps enable the creation of watchlists with real-time quotes, offering essential insights for informed trading decisions. In terms of user satisfaction, both mobile trading apps received a solid 4-star rating. However, in the ForexBrokers.com ranking for mobile trading apps, Questrade holds the 34th position among 63 brokers, outperforming Spreadex, which ranks at 46.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | |
| 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 | |
| Mobile Watchlist | Yes | Yes |
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When comparing Questrade and Spreadex for their market research offerings, it's evident that Spreadex holds a more favorable position. Spreadex provides daily market commentary and access to top-tier forex news from sources like Bloomberg and Reuters, features that Questrade lacks. Both platforms offer technical analysis tools from Autochartist, but only Questrade integrates Trading Central tools. Spreadex further distinguishes itself by offering sentiment-based trading tools to gauge market positions across various currency pairs, a feature absent from Questrade's toolkit. However, Questrade compensates with TipRanks market research, a service not available with Spreadex.
Both brokers provide an economic calendar detailing global news events, but it's clear that Spreadex's overall research capabilities are highly regarded, garnering a 4-star rating compared to Questrade's 3.5 stars. This is reflected in their rankings by ForexBrokers.com, where Spreadex is positioned at #31, significantly ahead of Questrade's #51 spot. Whether you're looking for insightful commentary or comprehensive analysis tools, Spreadex appears to offer a more extensive suite of research options than Questrade.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | |
| Social Sentiment - Currency Pairs | Yes | |
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Questrade and Spreadex for educational resources aimed at beginners, both platforms provide at least ten educational pieces focusing on forex or CFDs. This includes articles, videos, and archived webinars. However, Questrade, unlike Spreadex, offers a searchable archive of previously recorded client webinars, which can be a valuable resource for learners who prefer revisiting past sessions at their convenience. Both platforms ensure beginner traders have access to at least ten educational videos specifically tailored to introduce basic trading concepts, enhancing the learning experience for newcomers.
Spreadex, on the other hand, stands out by offering an investor dictionary with over 50 investing terms and definitions, catering to those looking to build a solid foundation in trading vocabulary. Despite Spreadex receiving a higher education rating of 4 stars compared to Questrade's 3.5, Questrade ranks higher at #36 as opposed to Spreadex's #45 among brokers on ForexBrokers.com in the education category. This suggests that while both brokers provide valuable educational resources, Questrade may offer more user-oriented content according to industry rankings.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | ||
| Client Webinars (Archived) | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | ||
| Investor Dictionary (Glossary) | 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 |
| Range of Investments |
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| Commissions & Fees |
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| Platforms & Tools |
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| Mobile Trading |
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While both Questrade and Spreadex provide options for trading cryptocurrency derivatives, neither broker offers the ability to purchase the actual cryptocurrency itself.
While Questrade and Spreadex both support deposits and withdrawals through Visa, Mastercard, and bank wires, neither offers ACH, SEPA, PayPal, or Skrill as funding options.
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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| Broker Gallery (click to expand) |
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| Regulation | Questrade | Spreadex | |
|---|---|---|---|
| Trust Score | 86 | 71 | |
| Year Founded | 2000 | 1999 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | |||
| 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) | |||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | |||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). |
| Tier-2 Licenses (Trusted) | Questrade | Spreadex | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | |||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| 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 | ||
| Int'l Stock Trading (Non CFD) | 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). |
| 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 | |||
| Inactivity Fee | |||
| Execution: Agency Broker | Yes | ||
| Execution: Market Maker | Yes |
| Funding | Questrade | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $250 | $0 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | |||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers |
| Trading Platforms | Questrade | Spreadex | |
|---|---|---|---|
| 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 | 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 | ||
| 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 | ||
| Mobile Economic Calendar | Yes | Yes |
| Research | Questrade | Spreadex | |
|---|---|---|---|
| Daily Market Commentary | Yes | ||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | ||
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | ||
| Economic Calendar | Yes | Yes |
| Education | Questrade | Spreadex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | |||
| Client Webinars (Archived) | Yes | ||
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | |||
| Investor Dictionary (Glossary) | 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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