Written by ForexBrokers.com
In this head to head comparison of Questrade vs Trade Nation, 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 weighing the differences between Questrade and Trade Nation, it's important to consider their regulatory standing and trust scores. Questrade, established in 2000, holds two Tier-1 licenses, reflecting a high level of trust and a ForexBrokers.com Trust Score of 86, which ranks it within the 'trusted' category. Although not publicly traded or a bank, Questrade's regulatory framework provides users with confidence in its offerings.
On the other hand, Trade Nation, founded in 2014, also boasts two Tier-1 licenses, underscoring a comparable level of regulatory recognition and security. Trade Nation is similarly neither publicly traded nor a bank. With a ForexBrokers.com Trust Score of 85, Trade Nation edges closely to Questrade in terms of trustworthiness, supplemented by an additional Tier-2 license that further consolidates its credibility in the financial market. Both platforms demonstrate a commitment to safety and trust, appealing to investors seeking regulated and reputable online brokers.
| Feature |
Questrade
|
Trade Nation
|
|---|---|---|
| Year Founded | 2000 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When comparing Questrade and Trade Nation on the basis of commissions and fees, Questrade's offering appears less competitive. Questrade's target spread for the EUR/USD pair is 1.9 pips, which is considered steep given the industry averages. This translates into higher trading costs for those using Questrade for forex trading. As a result, Questrade is rated 3 out of 5 stars and ranks 58th out of 63 brokers in the Commissions and Fees category on ForexBrokers.com.
In contrast, Trade Nation stands out with its competitive pricing. It provides fixed-spread pricing across all tradable symbols on its proprietary platform and variable-spread pricing on its MetaTrader platform. Trade Nation lists a fixed spread of 0.6 pips for the EUR/USD pair, though during the rollover period, spreads briefly widen up to 1.4 pips, bringing the true average closer to 1 pip. This structure offers transparency and potentially lower trading costs for clients.
Trade Nation further enhances its appeal with three primary account types, including a commission-based Raw Spread account that charges $3.50 per side, and a commission-free option on MetaTrader, alongside its TN Trader account offering the lowest all-in costs. With these options, Trade Nation is highly rated with 5 stars for commissions and fees and ranks 7th out of 63 brokers, underscoring its value for cost-conscious traders.
| Feature |
Questrade
|
Trade Nation
|
|---|---|---|
| Minimum Deposit | $250 | $0 |
| Average Spread EUR/USD - Standard | N/A | 0.6 |
| All-in Cost EUR/USD - Active | N/A | 0.6 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Questrade and Trade Nation are two online brokers offering distinct investment opportunities. Questrade stands out with its wide selection of 641 tradeable symbols and a notable 110 forex pairs. In addition to this, Questrade allows clients to invest in exchange-traded securities on both U.S. and international exchanges. This means investors can directly purchase shares like Apple and Vodafone, offering them access to a broader market. However, Questrade does not support copy trading and does not allow the purchase of actual cryptocurrencies, although it does provide options for cryptocurrency derivatives. These features contribute to Questrade's impressive 5-star rating for its range of investments.
Trade Nation, on the other hand, offers a more extensive array of 1000 tradeable symbols but features fewer forex pairs with only 46 available. Unlike Questrade, Trade Nation does not offer exchange-traded securities on U.S. or international exchanges. However, Trade Nation does provide copy trading, which allows investors to replicate the strategies of other successful traders. While Trade Nation also lacks the option to buy actual cryptocurrencies, it compensates with the ability to trade cryptocurrency derivatives. This combination of features has led to a lower range of investments rating of 3.5 stars compared to Questrade. In the rankings by ForexBrokers.com, Questrade is placed 11th out of 63 brokers for its range of investments, while Trade Nation is positioned at 38th.
| Feature |
Questrade
|
Trade Nation
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 1000 |
| Forex Pairs (Total) | 110 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools of Questrade and Trade Nation, both brokers provide various options that cater to different types of traders. Questrade and Trade Nation each offer simulated trading with free virtual demo accounts and in-house developed proprietary platforms. For those using desktop systems, both brokers provide Windows-based download platforms and convenient web-based browser platforms too. However, when it comes to copy trading, Trade Nation has the advantage, offering this feature unlike Questrade. Both brokers are rated four stars for their trading platforms and tools, highlighting their effectiveness and user satisfaction, although they differ slightly in ranking with Questrade positioned at #34 and Trade Nation at #44 by ForexBrokers.com.
Another point of differentiation is that Trade Nation includes the MetaTrader 4 (MT4) platform, while Questrade does not offer MT4 or MT5. In contrast, Questrade supports DupliTrade, a feature not available with Trade Nation. When it comes to charting, Trade Nation boasts 39 drawing tools, which is nearly double Questrade's 20 tools, but Questrade excels in the versatility of its watch lists, offering 52 columns compared to Trade Nation's 14. Furthermore, Questrade allows users to trade directly from a stock chart, a functionality missing from Trade Nation’s offerings. This variety in features makes both platforms appealing, depending on the individual trader’s priorities and trading style.
| Feature |
Questrade
|
Trade Nation
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 115 |
| Charting - Drawing Tools (Total) | 20 | 39 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 52 | 14 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Questrade and Trade Nation, both platforms cater to iPhone and Android users, ensuring accessibility across devices. Investors on each platform can receive stock or forex price alerts, maintain synchronized watchlists, and create watchlists with live quotes. While both apps support trendline drawing and offer the flexibility to view charts in multiple timeframes, Questrade provides 64 technical studies for charting, and Trade Nation impresses with a more extensive selection of 99 technical studies. Auto-saving of chart drawings adds further convenience to both apps, allowing users to focus on their trading strategies without losing progress.
In terms of user ratings and rankings, both Questrade and Trade Nation receive a solid four-star rating from users for their mobile trading apps. However, according to ForexBrokers.com, Questrade holds a stronger position in the Mobile Trading Apps category, ranked at #34 out of 63 brokers, compared to Trade Nation's ranking of #45. This suggests a slight edge in user preference and experience with Questrade's mobile app, possibly due to its features and usability. Overall, both platforms offer competitive services for traders on the go, with individual preferences likely guiding the choice between them.
| Feature |
Questrade
|
Trade Nation
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 99 |
| 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 Questrade and Trade Nation, each platform has distinct features that cater to different investor needs. Trade Nation stands out with its daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, along with a sentiment-based trading tool that helps users gauge market sentiment. Additionally, Trade Nation offers resources from Acuity Trading to assist investors in decision-making. In contrast, Questrade lacks these specific features but provides investors with technical analysis and research tools from both Autochartist and Trading Central, as well as market research from TipRanks. Questrade also includes an economic calendar to keep traders informed about important global events.
Both Questrade and Trade Nation have earned a research rating of 3.5 out of 5 stars, highlighting their strengths and areas for improvement. Notably, ForexBrokers.com ranks Trade Nation higher in the research category at #42, compared to Questrade's ranking at #51. This suggests that while both platforms offer valuable research tools, Trade Nation may be slightly better regarded among industry experts for its research offerings. Ultimately, the choice between the two will depend on the specific tools and features an investor finds most beneficial.
| Feature |
Questrade
|
Trade Nation
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
Questrade and Trade Nation both cater to beginners interested in forex or CFDs trading by providing various educational resources. Both platforms offer over 10 educational pieces focusing on forex and CFDs, including articles and videos. Questrade provides a searchable archive of previously recorded webinars, a helpful feature for learners who prefer accessing recorded content at their convenience. However, neither platform hosts monthly online client webinars, which might be a consideration for those looking for more interactive learning experiences.
When it comes to beginner-friendly video content, both Questrade and Trade Nation deliver with a collection of over 10 videos covering basic trading topics. However, Trade Nation outshines Questrade by offering advanced videos for experienced traders and an investor dictionary with over 50 investing terms, which Questrade does not provide. Both platforms hold the same education rating of 3.5 stars, yet Questrade is ranked slightly higher for education by ForexBrokers.com, coming in at #36 compared to Trade Nation's position at #41.
| Feature |
Questrade
|
Trade Nation
|
|---|---|---|
| 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 | Yes |
| 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 Trade Nation. Questrade finished with an overall rank of #32, while Trade Nation finished with an overall rank of #34.
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
|
Trade Nation
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 85 |
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Both Questrade and Trade Nation do not offer the ability to buy actual (delivered) cryptocurrency; however, they both provide options for trading cryptocurrency derivatives.
Both Questrade and Trade Nation do not support ACH or SEPA transfers or PayPal for account fund transactions, while only Trade Nation offers Skrill, and both platforms provide the option to use Visa, Mastercard, and bank wires for deposits and withdrawals.
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 | Trade Nation | |
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| Trust Score | 86 | 85 | |
| Winner | check_circle | ||
| Review | Questrade Review | Trade Nation Review |
| Broker Screenshots | Questrade | Trade Nation | |
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| Regulation | Questrade | Trade Nation | |
|---|---|---|---|
| Trust Score | 86 | 85 | |
| Year Founded | 2000 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Questrade | Trade Nation | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| 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 | Trade Nation | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Questrade | Trade Nation | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 1000 | |
| Forex Pairs (Total) | 110 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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 | Trade Nation | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 0.6 | |
| All-in Cost EUR/USD - Active | N/A | 0.6 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | Trade Nation | |
|---|---|---|---|
| Minimum Deposit | $250 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Questrade | Trade Nation | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | Trade Nation | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 14 | |
| Charting - Indicators / Studies (Total) | 64 | 115 | |
| Charting - Drawing Tools (Total) | 20 | 39 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | No |
| Mobile Trading | Questrade | Trade Nation | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 99 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | No |
| Research | Questrade | Trade Nation | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | No |
| Education | Questrade | Trade Nation | |
|---|---|---|---|
| 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 | Yes | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Questrade | Trade Nation | |
|---|---|---|---|
| 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 | Trade Nation Review |
| Overall | Questrade | Trade Nation | |
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| Trust Score | 86 | 85 | |
| Winner | check_circle | ||
| Review | Questrade Review | Trade Nation Review |
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