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.
Founded in 2000, Questrade has established itself as a trusted online broker with a ForexBrokers.com Trust Score of 86 out of 99. With two Tier-1 licenses, Questrade is recognized as adhering to high standards by being under the purview of top-tier financial regulators. Despite not holding any Tier-2 licenses, Questrade maintains a solid reputation for reliability in the trading community. Not being publicly traded or a bank, Questrade remains focused on delivering specialized brokerage services to its clients.
Trade Nation, on the other hand, was founded in 2014 and holds a ForexBrokers.com Trust Score of 85 out of 99, placing it in the 'trusted' category. Like Questrade, Trade Nation also holds two Tier-1 licenses, ensuring oversight from reputable financial authorities. Additionally, Trade Nation holds one Tier-2 license, adding to its credibility. Although it is not publicly traded or a bank, Trade Nation has positioned itself as a reliable choice for traders seeking dependable service and regulatory assurance.
| Feature |
Questrade
|
Trade Nation
|
|---|---|---|
| Year Founded | 2000 | 2014 |
| Publicly Traded (Listed) | ||
| Bank | ||
| 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 | ||
| 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 Questrade and Trade Nation, two prominent online brokers, the range of investment options stands out as a key consideration. Questrade offers an impressive lineup with 641 tradeable symbols, supporting a wide variety of financial assets. This includes access to both U.S. and international exchange-traded securities, allowing clients to invest in well-known stocks like Apple and Vodafone. Forex enthusiasts will find 110 tradeable forex pairs available through Questrade, utilizing either CFD or spot trading options. They also provide the ability to trade cryptocurrency derivatives, catering to investors interested in digital assets. With these offerings, Questrade scores highly with a 5-star rating for the range of investments and ranks 11th out of 63 brokers on ForexBrokers.com.
Trade Nation, on the other hand, provides a total of 1000 tradeable symbols, with a focus on CFD offerings, including forex trading. The broker has 46 tradeable forex pairs, making it a versatile choice for traders primarily interested in foreign exchange markets. While Trade Nation does support cryptocurrency derivatives, it does not offer actual cryptocurrency buying options or access to U.S. and international exchange-traded securities. However, Trade Nation distinguishes itself by offering copy trading features, appealing to those who prefer or benefit from mirroring experienced traders' strategies. Despite these offerings, Trade Nation holds a 3.5-star rating for the range of investments and ranks 38th on ForexBrokers.com’s list, indicating a more limited selection compared to Questrade.
| 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 | |
| Int'l Stock Trading (Non CFD) | 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 Questrade and Trade Nation for their trading platforms and tools, both brokers offer unique features catering to different trader preferences. Questrade and Trade Nation provide simulated (paper) trading accounts, allowing users to practice without financial risk. Both brokers have developed proprietary platforms and offer trading through Windows-based desktop applications and web-based platforms. Trade Nation also provides the MetaTrader 4 platform and supports copy trading, bolstering options for those seeking diverse trading strategies. On the other hand, Questrade offers DupliTrade, providing automated trading options. For traders interested in charting, Trade Nation has a slight advantage with 39 drawing tools compared to Questrade’s 20, although both brokers allow direct trading from stock charts.
Questrade stands out by offering a richer watch list experience with 52 columns available for customization, compared to Trade Nation's 14 columns. While both brokers are rated four stars for their trading platforms and tools, Questrade is ranked slightly higher by ForexBrokers.com, placing 34th out of 63 brokers, whereas Trade Nation ranks 44th. Therefore, the decision ultimately depends on which specific tools and features align with your trading style and needs.
| 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 | Yes | |
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | ||
| DupliTrade | Yes | |
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 64 | 115 |
| Charting - Drawing Tools (Total) | 20 | 39 |
| Charting - Trade From Chart | Yes | |
| 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, both brokers present unique strengths. Trade Nation shines in delivering daily market commentary and providing top-tier forex news from leading sources like Bloomberg, Reuters, and Dow Jones. Additionally, Trade Nation includes a sentiment-based trading tool that identifies trader positions across various markets, along with research tools from Acuity Trading. However, Trade Nation lacks access to technical analysis tools from Autochartist and Trading Central, which some traders may find limiting. Despite this, both brokers are rated equally with 3.5 stars for research quality.
On the other hand, Questrade excels by incorporating technical analysis and fundamental research tools from Autochartist and Trading Central, catering to those who prefer in-depth analysis. Questrade also offers market insights from TipRanks and a comprehensive economic calendar that outlines key global events. Despite these advantages, Questrade does not provide daily market commentary or top-tier forex news, which might be a drawback for traders seeking daily insights. In rankings, Trade Nation stands slightly ahead at #42 compared to Questrade at #51 out of 63 brokers evaluated for research offerings.
| Feature |
Questrade
|
Trade Nation
|
|---|---|---|
| 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 |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational offerings of Questrade and Trade Nation, both platforms provide ample resources for beginners eager to learn about forex and CFDs. Questrade and Trade Nation supply over ten educational pieces, including articles and videos, focusing on forex and CFDs. Both brokers cater to beginner traders with at least ten beginner-focused educational videos. However, Questrade stands out with a searchable archive of previously recorded webinars, a feature that is missing from Trade Nation’s offerings. Conversely, Trade Nation provides a comprehensive investor dictionary with more than 50 investing terms, a tool absent from Questrade’s education resources.
Trade Nation shines by offering more than ten advanced trading videos for experienced traders, a category where Questrade does not meet the same standard. Both brokers are rated equally by ForexBrokers.com with a 3.5-star rating in the Education category, although Questrade ranks slightly higher at #36 compared to Trade Nation’s #41 out of 63 brokers. Overall, while both platforms offer valuable resources for beginners, the choice between them might come down to the specific resources that best match your learning needs.
| Feature |
Questrade
|
Trade Nation
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | ||
| Client Webinars (Archived) | 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 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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Questrade and Trade Nation both do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for investing in cryptocurrency derivatives.
When comparing online brokers Questrade and Trade Nation regarding funding and withdrawal options, both offer Visa, Mastercard, and bank wire transfers, while Trade Nation additionally supports Skrill, but neither provide options for ACH, SEPA, or PayPal 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 | 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) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | |||
| 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) | Yes | ||
| 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 | Trade Nation | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA/Central Bank Authorised) | |||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| 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 | ||
| Int'l Stock Trading (Non CFD) | 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 | 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 | |||
| Inactivity Fee | |||
| Execution: Agency Broker | Yes | ||
| Execution: Market Maker | Yes |
| Funding | Questrade | Trade Nation | |
|---|---|---|---|
| Minimum Deposit | $250 | $0 | |
| 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 | Questrade | Trade Nation | |
|---|---|---|---|
| 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) | |||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| 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 | ||
| Charts can be saved | Yes |
| 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 |
| Research | Questrade | Trade Nation | |
|---|---|---|---|
| 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 |
| Education | Questrade | Trade Nation | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | |||
| Client Webinars (Archived) | Yes | ||
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | ||
| Investor Dictionary (Glossary) | 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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