Written by ForexBrokers.com
In this head to head comparison of ThinkMarkets 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.
ThinkMarkets and Questrade offer online trading services with distinct regulatory credentials. Founded in 2010, ThinkMarkets holds an impressive 92 Trust Score rating from ForexBrokers.com, classifying it as highly trusted. It boasts five Tier-1 licenses, recognized as highly trusted, and two Tier-2 licenses, marking it as a reliable choice for investors. Meanwhile, Questrade, established in 2000, has a Trust Score rating of 86, signaling a trusted status. It holds two Tier-1 licenses but does not currently have any Tier-2 licenses.
Neither ThinkMarkets nor Questrade is publicly traded on a stock exchange or operates as a bank. This non-bank status is common for many brokerage firms, allowing them to focus solely on trading services. When considering trust and regulatory compliance, ThinkMarkets' higher number of licenses and superior trust score may appeal to those prioritizing these factors in their trading platform choice.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Year Founded | 2010 | 2000 |
| Publicly Traded (Listed) | ||
| Bank | ||
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
When comparing ThinkMarkets and Questrade on commissions and fees, ThinkMarkets offers a relatively favorable experience with a 4-star rating in this category. Despite the lack of available average spread data, the broker secures the 47th position out of 63 brokers as ranked by ForexBrokers.com, reflecting its competitive cost structure for trades.
In contrast, Questrade presents a less appealing option concerning costs, receiving a 3-star rating for its commissions and fees. One of the notable factors contributing to this rating is its target spread of 1.9 pips on the EUR/USD pair, which is higher than the industry average. This results in Questrade being ranked 58th out of 63 brokers for commissions and fees, signifying it might be a pricier choice for customers prioritizing low-cost trading.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Minimum Deposit | $50 | $250 |
| Average Spread EUR/USD - Standard | 1.1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | |
| ACH or SEPA Transfers | ||
| PayPal (Deposit/Withdraw) | ||
| 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 ThinkMarkets and Questrade on the basis of available investment options, several distinctions and similarities arise. ThinkMarkets provides access to a vast assortment of 4,000 tradeable symbols, including 46 forex pairs, giving traders ample variety in CFD and spot contract trading. In contrast, Questrade offers a smaller pool of 641 tradeable symbols but outshines in access to forex pairs with 110 available. Both platforms allow for cryptocurrency derivative trading, although neither offers the opportunity to buy actual cryptocurrencies. Additionally, ThinkMarkets supports copy trading, an option not available with Questrade.
For those interested in traditional exchange-traded securities, Questrade facilitates buying securities on U.S. exchanges like Apple (NASDAQ: AAPL), while both brokers provide access to international exchanges for stocks such as Vodafone (VOD-GB: London Stock Exchange). In terms of user ratings and rankings, Questrade holds a slight edge with a 5-star rating in the Range of Investments category compared to ThinkMarkets’ 4.5 stars. According to ForexBrokers.com, Questrade ranks #11 among 63 brokers, surpassing ThinkMarkets, which stands at #23.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 641 |
| Forex Pairs (Total) | 46 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | 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.
When comparing ThinkMarkets and Questrade's trading platforms and tools, both brokers offer comprehensive options with some differences. ThinkMarkets provides a proprietary platform, available as a Windows-based desktop and a web-based platform, which supports MetaTrader 4 and 5 for a versatile trading experience. Traders can also engage in copy trading with ThinkMarkets. While both brokers offer virtual demo accounts for simulated trading, ThinkMarkets steps ahead by integrating MT4 and MT5 platforms, a vital feature for those focused on forex trading.
Questrade also caters to desktop and web-based traders with its proprietary platform alongside a simulated trading account. While it doesn't support MT4 or MT5, it offers DupliTrade for those interested in social trading. Questrade shines in the customization of watch lists, offering up to 52 fields for a tailored view of market activity. Both brokers allow direct trading from charts, though Questrade offers more drawing tools for charting. Their trading platforms and tools receive a respectable 4-star rating each, with ThinkMarkets ranked slightly higher by ForexBrokers.com, acknowledging its broader platform support and features.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | 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) | 30 | 64 |
| Charting - Drawing Tools (Total) | 15 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 15 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of ThinkMarkets and Questrade, both platforms offer a comprehensive experience for iPhone and Android users. Each app provides key features like stock and forex price alerts, along with the ability to draw trendlines and view multiple time frames on charts. Both apps also allow users to create watchlists with real-time quotes. However, a standout difference is in the number of technical studies available for charting; ThinkMarkets users can access 94 technical studies, while Questrade offers 64.
In terms of synchronization, Questrade offers watchlist symbol syncing, allowing seamless transitions between mobile and online accounts, while ThinkMarkets does not specify this feature. Despite these differences, both apps automatically save chart drawings, maintaining user customization. Ratings for their mobile trading experiences are closely matched, with both rating 4 out of 5 stars. Nonetheless, ForexBrokers.com ranks ThinkMarkets higher at #20 compared to Questrade's #34, giving it a slight edge in the rankings among 63 brokers assessed.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | |
| Mobile Charting - Indicators / Studies | 94 | 64 |
| 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 the market research offerings of ThinkMarkets and Questrade, both platforms have distinct strengths. ThinkMarkets provides daily market commentary and access to forex news from leading sources like Bloomberg and Reuters, making it a strong choice for traders interested in timely market insights. Additionally, ThinkMarkets offers sentiment-based trading tools and Acuity Trading's research tools, enabling traders to get a comprehensive view of market positions and signals. However, it lacks tools and analysis from Autochartist and Trading Central, which some traders may miss.
On the other hand, Questrade provides a robust analysis with access to tools from Autochartist and Trading Central, which can greatly assist traders in technical and fundamental analysis. It also features market research from TipRanks, giving users insightful trading perspectives. However, Questrade does not offer the same level of forex news coverage or sentiment tools as ThinkMarkets. Both brokers offer an economic calendar to help traders track global news events, and are equally rated for research capabilities with 3.5 stars by ForexBrokers.com. Interestingly, ThinkMarkets is ranked slightly higher by ForexBrokers.com, positioned at #50 compared to Questrade at #51 out of 63 brokers, showing how closely matched they are in this category.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | |
| Social Sentiment - Currency Pairs | Yes | |
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | Yes | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When evaluating the educational resources for beginners provided by online brokers ThinkMarkets and Questrade, both platforms offer a comparable range of content aimed at newcomers to forex and CFD trading. Each broker provides a suite of educational materials, including at least ten pieces such as articles, videos, and archived webinars focused on forex or CFDs. Also, for those who prefer video learning, both providers supply a minimum of ten beginner-friendly educational videos on trading topics. Adding depth, ThinkMarkets offers advanced educational videos, whereas Questrade's offerings in this area are less defined in the information provided. Both brokers feature searchable archives of recorded client webinars for easy access to past sessions.
When examining specific educational tools, ThinkMarkets edges ahead slightly by conducting regular educational client webinars each month and offering an investor dictionary with more than 50 terms defined to aid comprehension of trading language. On the rating scale, both brokers receive a 3.5-star rating for education; however, Questrade is ranked higher in ForexBrokers.com's list, placing 36th compared to ThinkMarkets' 52nd out of 63 brokers evaluated. This ranking suggests that while both brokers offer various resources to ease beginners into trading, Questrade might have a broader recognition in the educational category. Overall, potential investors will find valuable educational aids with either platform, but the frequency of webinars and additional resources like an investor dictionary may make ThinkMarkets an appealing choice for those seeking continuous learning and clear definitions.
| Feature |
ThinkMarkets
|
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) | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that ThinkMarkets is better than Questrade. ThinkMarkets finished with an overall rank of #27, while Questrade finished with an overall rank of #32.
ThinkMarkets has multiple regulatory license and offers a proprietary trading platform, as well as the entire MetaTrader suite. The broker has made progress in key areas, such as research and education, and the range of markets available, although trails behind the best brokers in these categories.
| Feature |
ThinkMarkets
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Questrade
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|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 86 |
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ThinkMarkets does not offer the ability to buy actual (delivered) cryptocurrency and only provides the option to trade cryptocurrency derivatives, while Questrade similarly lacks the facility for purchasing actual cryptocurrency but does enable trading in cryptocurrency derivatives.
When comparing online brokers ThinkMarkets and Questrade, both offer Visa or Mastercard and bank wires as options for depositing or withdrawing account funds, but only ThinkMarkets supports Skrill, while neither provides ACH, SEPA, or PayPal transfer 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 | ThinkMarkets | Questrade | |
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| Trust Score | 92 | 86 | |
| Winner | check_circle | ||
| Review | Questrade Review |
| Broker Screenshots | ThinkMarkets | Questrade | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | ThinkMarkets | Questrade | |
|---|---|---|---|
| Trust Score | 92 | 86 | |
| Year Founded | 2010 | 2000 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | ThinkMarkets | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | Yes | ||
| Singapore (MAS Authorised) | |||
| 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) | ThinkMarkets | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | ThinkMarkets | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4000 | 641 | |
| Forex Pairs (Total) | 46 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | ||
| Int'l Stock Trading (Non CFD) | Yes | 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 | ThinkMarkets | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | N/A | |
| 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 | ThinkMarkets | Questrade | |
|---|---|---|---|
| Minimum Deposit | $50 | $250 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers |
| Trading Platforms | ThinkMarkets | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | 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 | ThinkMarkets | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 15 | 52 | |
| Charting - Indicators / Studies (Total) | 30 | 64 | |
| Charting - Drawing Tools (Total) | 15 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | ThinkMarkets | Questrade | |
|---|---|---|---|
| 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 | 94 | 64 | |
| 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 | ThinkMarkets | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | ||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | ||
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | ||
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | 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) | Yes |
| Major Forex Pairs | ThinkMarkets | 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 | Questrade Review |
| Overall | ThinkMarkets | Questrade | |
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| Trust Score | 92 | 86 | |
| Winner | check_circle | ||
| Review | Questrade Review |
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