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 |
Questrade offers a range of online brokerage services but falls short in the commissions and fees department, particularly when it comes to currency trading. The target spread on the popular EUR/USD currency pair is 1.9 pips, which is higher than the industry average. This makes trading slightly more expensive for users. Overall, Questrade's approach to commissions and fees earns it a rating of 3 out of 5 stars, placing it at #57 out of 62 brokers examined by ForexBrokers.com in this category.
On the other hand, Trade Nation shines with its competitive pricing strategy. Known for its fixed-spread pricing, Trade Nation offers a fixed spread of 0.6 pips on the EUR/USD pair, although it does widen to 1.4 pips during a brief daily rollover period. By providing both fixed and variable-spread pricing options, Trade Nation ensures transparency and predictability for traders. The firm features three main account types, including a commission-based Raw Spread account on MetaTrader and the TN Trader account with lower spreads. These account options make Trade Nation a cost-effective choice. The broker receives a commendable 5 out of 5 stars for commissions and fees, ranking 7th out of 62 brokers as per ForexBrokers.com.
In summary, Questrade and Trade Nation offer distinct approaches to commissions and fees. Questrade's higher spreads place it lower in the rankings, while Trade Nation's fixed-spread model provides an attractive option for traders looking for consistency and cost savings. Trade Nation emerges as the more favorable option for those prioritizing lower trading costs.
| 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.
When comparing the investment options available from Questrade and Trade Nation, several key differences emerge. Questrade stands out with a total of 641 tradeable symbols, including 110 forex pairs. It offers clients the opportunity to trade exchange-traded securities on both U.S. and international exchanges, such as Apple shares on the NASDAQ or Vodafone shares on the London Stock Exchange. While Questrade does not provide copy trading or the ability to buy actual cryptocurrency, it does offer cryptocurrency derivatives, which can be an attractive option for currency enthusiasts.
On the other hand, Trade Nation offers a larger selection of tradeable symbols with 1000 options, but has fewer forex pairs at 46. Unlike Questrade, Trade Nation does not provide direct access to U.S. or international exchange-listed securities; however, it does support copy trading, providing a social aspect to trading. Similar to Questrade, Trade Nation allows trading in cryptocurrency derivatives rather than actual cryptocurrencies. In terms of overall investment options, Questrade is rated 5 stars and ranks 11th among 62 brokers, while Trade Nation garners a rating of 3.5 stars and stands at 38th place in the same category.
| 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 offered by Questrade and Trade Nation, both brokers provide users with essential features, including simulated (paper) trading accounts, web-based platforms, and proprietary platforms designed in-house. While each broker supplies a Windows-based desktop platform, they cater to different trader preferences through their distinct offerings. Questrade incorporates 20 drawing tools and allows for direct trading from stock charts, a feature absent in Trade Nation's platform. Questrade also offers DupliTrade for an enriched trading experience, whereas Trade Nation supports copy trading and integrates MetaTrader 4 (MT4), catering to those familiar with the popular third-party platform.
In terms of customization, Questrade provides an extensive 52 columns for watch lists, which surpasses Trade Nation's 14, offering traders more detailed insights and flexibility in monitoring interests. Both brokers carry a 4-star rating for platforms and tools, reflecting their capability to meet traders' needs, though their feature sets differ to suit varying preferences. Rankings from ForexBrokers.com position Questrade at #34 and Trade Nation at #44 out of 62 brokers, indicating that while both are well-regarded, they prioritize different aspects to tailor to their user base.
| 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.
Questrade and Trade Nation both offer user-friendly mobile trading apps, available on both iPhone and Android platforms. These apps are designed to provide a seamless trading experience, offering features like stock and forex price alerts and watchlist symbol syncing, ensuring real-time updates across devices. Traders can benefit from the capability to draw trendlines on charts and view various time frames, such as daily, weekly, or intraday, with both apps automatically saving any drawings for easy access later. Additionally, users can create watchlists with real-time quotes, enabling swift analysis and decision-making on the go.
For those interested in technical analysis, Trade Nation stands out with 99 charting studies compared to Questrade's 64. Despite this difference, both brokers have received four-star ratings for their mobile trading apps, demonstrating user satisfaction. However, in terms of ranking, Questrade is placed higher by ForexBrokers.com, occupying the 34th spot out of 62 brokers, while Trade Nation is ranked 45th. This comparison highlights that while both platforms offer comprehensive trading tools, your choice might depend on how you value technical analysis features versus overall user feedback and ratings.
| 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 online brokers Questrade and Trade Nation in terms of market research offerings, both have their unique strengths. Trade Nation stands out with its provision of daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, along with a sentiment-based trading tool. In contrast, Questrade does not offer these features. However, Questrade compensates by offering technical analysis tools from Autochartist and Trading Central, as well as access to market research from TipRanks, a service not provided by Trade Nation. Additionally, Questrade offers an economic calendar to keep traders informed about global news events, which is lacking in Trade Nation's offerings.
Both brokers have been rated 3.5 stars for research but differ in their rankings—Questrade holds the 51st spot, while Trade Nation is slightly ahead at 42nd place, according to ForexBrokers.com. The choice between Questrade and Trade Nation ultimately depends on the trader’s preferences between accessing high-quality forex news and commentary with Trade Nation versus utilizing advanced analytical tools and economic insights with Questrade.
| 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.
When exploring educational resources for beginner traders, both Questrade and Trade Nation offer strong learning opportunities with some minor differences. Both brokers provide a significant number of educational pieces focused on forex and CFDs, making them beneficial for those new to these financial instruments. Beginners also have access to over ten instructional videos from each broker, offering a user-friendly way to understand trading concepts. However, a notable advantage of Questrade is its searchable archive of recorded client webinars, which provides additional learning content over Trade Nation, which does not offer this feature.
For more advanced educational resources tailored to experienced traders, Trade Nation has the upper hand. It offers over ten advanced videos to help seasoned traders hone their skills, while Questrade falls short in this area. Furthermore, Trade Nation provides an investor dictionary with over 50 investing terms, an additional tool that Questrade does not offer. Despite these differences, both Questrade and Trade Nation receive the same education rating of 3.5 stars, making them equally valuable to new traders. However, their overall educational offerings rank differently, with Questrade coming in at 36th out of 62 brokers, compared to Trade Nation's 41st position.
| 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 62 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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