Written by ForexBrokers.com
In this head to head comparison of Questrade vs TopFX, 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 choosing an online broker, understanding their trust and regulatory status is crucial. Questrade, founded in 2000, is a well-regarded option with a Trust Score of 86, indicating a trusted status according to ForexBrokers.com. The company holds two Tier-1 licenses, showcasing its commitment to adhering to top-level financial safety practices. While not listed on a stock exchange, and not operating as a bank, Questrade still offers a secure environment for its users.
TopFX, on the other hand, started its operations in 2010 and has a Trust Score of 67, suggesting a high risk as per ForexBrokers.com's rating. Holding one Tier-1 license, TopFX has a foundational level of regulatory security, but investors might consider exploring how these factors align with their priorities. Similar to Questrade, TopFX is neither publicly traded nor a banking institution, which affects how both brokers are viewed in terms of corporate structure and oversight.
| Feature |
Questrade
|
TopFX
|
|---|---|---|
| Year Founded | 2000 | 2010 |
| 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 | 1 |
Comparing commissions and fees, TopFX is generally cheaper than Questrade for trading the popular EUR/USD pair. Questrade’s target spread of 1.9 pips on EUR/USD is steep versus the industry average, while TopFX’s RAW account posts an estimated all-in cost of about 0.88 pips (based on July 2024 data). For ratings, Questrade earns 3 stars and ranks #59 out of 63 brokers for Commissions and Fees, whereas TopFX earns 4 stars and ranks #41 out of 63.
TopFX offers two pricing models on MetaTrader and cTrader: the spread-only ZERO account and the commission-based RAW account. The RAW account charges a commission of 2.75 EUR per side (5.50 EUR per round turn per standard lot) and averaged 0.33 pips in spreads on EUR/USD in July 2024; with the commission equivalent of about 0.55 pips, the all-in cost was roughly 0.88 pips—around the industry average. The ZERO account is commission-free with higher average spreads of 1.03 pips on EUR/USD. The minimum deposit varies by payment method.
Questrade keeps pricing simple but pricier for forex: its target spread of 1.9 pips on EUR/USD sits well above the industry average, which can add up for frequent traders. Given these costs, Questrade’s 3-star rating (#59/63) trails TopFX’s 4-star standing (#41/63) in the Commissions and Fees category.
| Feature |
Questrade
|
TopFX
|
|---|---|---|
| Minimum Deposit | $250 | Depends on payment method |
| Average spread (EUR/USD) - Standard account | N/A | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | |
| Skrill (Deposit/Withdraw) | No | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Questrade vs TopFX: both let you trade forex as CFDs or spot. Questrade lists 641 tradeable symbols, while TopFX lists 655. That said, Questrade offers 110 tradeable forex pairs compared with 60 at TopFX. Both brokers support cryptocurrency CFDs, but neither lets you buy delivered crypto. Copy trading is available at TopFX, not at Questrade.
When it comes to exchange-traded securities, Questrade stands out. You can buy U.S. shares like Apple (NASDAQ: AAPL) and international shares such as Vodafone on the London Stock Exchange, whereas TopFX does not offer exchange-traded securities. Reflecting this mix, ForexBrokers.com rates Questrade 5 stars for Range of Investments and ranks it 12th out of 63 brokers; TopFX earns 3.5 stars and ranks 47th. In short, TopFX has slightly more total symbols, but Questrade offers more forex pairs and access to real shares on major exchanges.
| Feature |
Questrade
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 655 |
| Forex Pairs (Total) | 110 | 60 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 TopFX both offer free demo (paper) accounts, Windows desktop platforms, web trading, and the ability to place trades directly from charts. The key differences come down to platform choices: Questrade provides a proprietary, in-house platform, while TopFX does not. Instead, TopFX supports MetaTrader 4 (MT4), which Questrade does not. Neither broker offers MetaTrader 5 (MT5). For social features, TopFX includes copy trading, whereas Questrade does not.
Both brokers earn 4 out of 5 stars for Trading Platforms and Tools. In a 63-broker comparison by ForexBrokers.com, Questrade ranks #35 and TopFX ranks #46. Choose Questrade if you want an in-house platform and integrated chart trading across web and desktop. Pick TopFX if you prefer MT4 and want access to copy trading alongside web and desktop options.
| Feature |
Questrade
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Questrade and TopFX offer mobile trading apps for iPhone and Android, and each supports price alerts for stocks and forex. A key difference is watchlist syncing: Questrade syncs your watchlists between the mobile app and your online account, while TopFX does not. If you jump between your phone and desktop, Questrade’s syncing can save time and reduce errors.
For charting, Questrade provides 64 technical studies compared with 30 on TopFX. Both apps let you draw trendlines and will auto-save your chart drawings. In expert reviews, each app earns 4 out of 5 stars for Mobile Trading Apps. However, Questrade ranks higher overall in the category—#35 out of 63 brokers—while TopFX sits at #52 on ForexBrokers.com. If you value watchlist syncing and a wider range of indicators, Questrade has the edge; if you just need core tools and alerts on iPhone or Android, both platforms can get the job done.
| Feature |
Questrade
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing market research at Questrade and TopFX: both lack daily market commentary but include an economic calendar, plus popular third-party tools Autochartist and Trading Central for technical and fundamental insights. TopFX offers forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones and includes a sentiment tool that shows long/short positioning, while Questrade does not provide sentiment data. Questrade includes TipRanks research; whether TopFX integrates TipRanks is not specified. Questrade does not offer Acuity Trading tools, and availability at TopFX is not specified.
On overall quality, ForexBrokers.com rates Questrade 3.5/5 for Research (ranked 52nd of 63) versus TopFX at 3/5 (61st of 63). In short, choose Questrade if you value TipRanks alongside Autochartist and Trading Central, and consider TopFX if top-tier news and sentiment insights matter most. If you rely on daily commentary, neither broker currently offers it.
| Feature |
Questrade
|
TopFX
|
|---|---|---|
| Daily Market Commentary (Articles) | No | No |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | No | Yes |
| TipRanks | Yes | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginner traders comparing Questrade vs TopFX education, Questrade has the clearer edge. It offers at least 10 beginner-focused trading videos, making it easier to learn basics step by step. TopFX does not meet that mark for beginner videos. Neither broker runs monthly client webinars, and neither provides 10 or more advanced videos, so options for deeper study are limited at both.
Independent ratings reflect this gap: Questrade scores 3.5 out of 5 for Education and ranks #36 out of 63 brokers on ForexBrokers.com, while TopFX scores 3 out of 5 and ranks #62. In short, if you want more beginner-friendly video content to start learning forex and CFDs, Questrade is the stronger pick, whereas TopFX’s educational catalog is more modest.
| Feature |
Questrade
|
TopFX
|
|---|---|---|
| Webinars | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | 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 TopFX. Questrade finished with an overall rank of #32, while TopFX finished with an overall rank of #62.
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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TopFX
|
|---|---|---|
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| Trust Score | 86 | 67 |
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Questrade vs TopFX: neither online broker lets you buy actual (delivered) cryptocurrency, but both offer cryptocurrency CFDs for trading.
Questrade vs TopFX: For deposits and withdrawals, Questrade does not support ACH/SEPA, PayPal, or Skrill but does allow bank wire transfers (Visa/Mastercard not specified), while TopFX also does not support ACH/SEPA and provides no confirmed details for PayPal, Skrill, Visa/Mastercard, or bank wires.
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 | TopFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | Questrade Review | TopFX Review |
| Broker Screenshots | Questrade | TopFX | |
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| Broker Gallery (click to expand) |
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| Regulation | Questrade | TopFX | |
|---|---|---|---|
| Trust Score | 86 | 67 | |
| Year Founded | 2000 | 2010 | |
| 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 | 1 |
| Tier-1 Licenses (Highly Trusted) | Questrade | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | 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 | ||
| 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 | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | Questrade | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 655 | |
| Forex Pairs (Total) | 110 | 60 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | TopFX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | N/A | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | No | Yes |
| Funding | Questrade | TopFX | |
|---|---|---|---|
| Minimum Deposit | $250 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | ||
| Skrill (Deposit/Withdraw) | No | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | No |
| Trading Platforms | Questrade | TopFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | Yes |
| Trading Tools | Questrade | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Questrade | TopFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | No | No | |
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | Yes | ||
| Client sentiment data | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | TopFX | |
|---|---|---|---|
| Webinars | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No |
| Major Forex Pairs | Questrade | TopFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Questrade Review | TopFX Review |
| Overall | Questrade | TopFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | Questrade Review | TopFX Review |
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