Written by ForexBrokers.com
In this head to head comparison of XM Group 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.
Comparing online brokers XM Group and Questrade: XM Group launched in 2009, while Questrade began in 2000. Neither company is publicly traded or operates as a bank, which makes their regulatory strength and transparency especially important for investors researching where to open an account.
XM Group holds 4 Tier-1 licenses and 3 Tier-2 licenses, versus Questrade’s 1 Tier-1 license and 0 Tier-2 licenses. According to ForexBrokers.com, XM Group’s Trust Score is 93 out of 99, which is considered highly trusted (90–99), while Questrade’s Trust Score is 85, considered trusted (80–89). These ratings reflect how regulators oversee each broker and can help you gauge overall safety and oversight when choosing between them.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Year Founded | 2009 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
XM Group and Questrade are both rated 3.5 out of 5 stars for commissions and fees, but they take different approaches to pricing. XM Group’s standard account spreads are expensive, and it does not publish average spreads for its commission-based XM Zero account, which can make it harder for traders to compare costs upfront. In ForexBrokers.com’s Commissions and Fees category, XM Group ranks #35 out of 36 brokers.
Questrade also earns a 3.5-star rating, and it ranks #34 out of 36 in the same category. Questrade Global is a spread-based broker, so trading costs are built into the price rather than charged as a separate commission. According to Questrade, spreads can start as low as 0.8 pips in normal market conditions, but average spreads for major forex pairs were found to be closer to 2.1 to 2.5 pips, which can work out to about $20 per standard lot trade.
For CFDs, Questrade adds a $9.95 USD trading fee per unit on top of the spread, which can make trades more expensive than they first appear. In simple terms, both brokers are on the pricier side for commissions and fees, but Questrade’s pricing is more transparent than XM Group’s in some areas because its spread-based model is easier to see. Still, neither broker stands out as a low-cost choice in this category.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Minimum Deposit | $5 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.1 | 0.8 or higher |
| All-in Cost EUR/USD - Raw spread account | 0.7+ | N/A |
| Non-wire bank transfer (Deposit/Withdraw) | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
XM Group and Questrade both let clients trade forex as CFDs or spot contracts, but they differ in the broader range of markets available. XM Group offers 1,583 tradeable symbols, compared with 675 at Questrade, and it also provides access to 54 forex pairs. By contrast, Questrade lists 110 tradeable forex pairs, giving it the wider selection in currency trading.
XM Group stands out for its access to exchange-traded securities on both U.S. and international exchanges, plus copy trading and cryptocurrency CFDs. Questrade does not offer U.S. or international exchange-traded stocks through this setup, copy trading, or crypto CFDs. Even so, Questrade earns a higher Range of Investments rating at 5 stars and ranks #12 out of 36 brokers, while XM Group is rated 4.5 stars and ranks #19, suggesting Questrade has the edge overall in this category despite XM Group’s wider list of markets.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1583 | 675 |
| Forex Pairs (Total) | 54 | 110 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | No |
| 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.
XM Group and Questrade both give traders a choice of a free demo account, a Windows desktop app, and a web-based platform, so either broker can work well for practice or day-to-day trading. Both also let users trade directly from charts, and both earn 4 out of 5 stars for trading platforms and tools. In ForexBrokers.com’s ranking, XM Group sits slightly ahead at #28 out of 36 brokers, while Questrade is close behind at #29.
The main difference is in platform variety and extra features. XM Group supports MetaTrader 4 and MetaTrader 5, plus copy trading, which may appeal to traders who want popular third-party tools and the option to follow others. Questrade, on the other hand, offers its own in-house platform, which XM Group does not. If you want MT4, MT5, or copy trading, XM Group has the edge; if you prefer a broker-built platform, Questrade stands out more.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 100 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
XM Group and Questrade both make mobile trading easy with iPhone and Android apps, plus price alerts and watchlist syncing so your saved symbols can stay matched between the app and your online account. Both apps also let you draw trendlines on stock or forex charts, which is useful for tracking market moves on the go. In this area, the two brokers look very similar for everyday mobile use.
Where XM Group pulls ahead is charting depth and overall mobile app ratings. XM Group offers 100 technical studies in its app, compared with 64 at Questrade, and it holds a higher mobile trading apps score at 4 stars versus Questrade’s 3.5 stars. XM Group is also ranked #26 out of 36 brokers for mobile trading apps, while Questrade sits at #29. One key difference is that Questrade auto-saves chart drawings, while XM Group does not.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 100 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, XM Group gives traders more built-in tools and news coverage than Questrade. XM Group offers daily market commentary, forex news from top sources like Bloomberg and Reuters, a sentiment tool for seeing long and short positioning, and an economic calendar for tracking global events. It also includes Trading Central research tools. Questrade, on the other hand, does not offer daily market commentary, top-tier forex news, sentiment data, or an economic calendar, but it does provide Autochartist, Trading Central, and TipRanks research.
Overall, XM Group comes out ahead for research, with a 5-star rating and an #8 ranking out of 36 brokers for the Research category from ForexBrokers.com. Questrade is rated 3.5 stars and ranks #36 out of 36, which suggests a much more limited research offering by comparison. For traders who want more market insight and more frequent updates, XM Group is the stronger choice.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
When it comes to beginner education, XM Group is much stronger than Questrade. XM Group offers forex and CFD learning material, online educational client webinars at least once a month, and plenty of videos for both new and more experienced traders. It also earns a 5-star Education rating and ranks #5 out of 36 brokers for Education at ForexBrokers.com. In plain terms, XM Group gives beginners far more ways to learn the basics and keep building their skills over time.
Questrade, by comparison, has a lighter educational offering for traders who are just starting out. Based on the details provided, it does not meet the same level of forex or CFD education, does not offer monthly educational webinars, and does not have the same depth of beginner or advanced video content. Its Education rating is 3.5 stars, and it ranks #29 out of 36 brokers, which suggests it is better suited for basic learning support than for traders looking for a wide range of trading lessons.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that XM Group is better than Questrade. XM Group finished with an overall rank of #16, while Questrade finished with an overall rank of #29.
XM Group is a multi-regulated forex and CFD broker offering 1,583 tradeable symbols across MetaTrader 4 and 5 and a new proprietary web and mobile platform. Its live trading rooms and integrated Trading Central research are among the best in the industry. Standard account spreads are expensive, though the Ultra Low and Zero accounts are competitive.
| Feature |
XM Group
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Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 85 |
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XM Group vs Questrade: neither broker lets you buy actual (delivered) cryptocurrency, but XM Group offers cryptocurrency CFDs while Questrade does not.
Comparing online brokers XM Group and Questrade for deposit and withdrawal funding methods: neither supports ACH or SEPA transfers or PayPal; XM Group supports Skrill while Questrade does not; both offer bank wire transfers; Visa/Mastercard availability is not specified for either.
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 | XM Group | Questrade | |
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| Trust Score | 93 | 85 | |
| Winner | check_circle | ||
| Review | XM Group Review | Questrade Review |
| Broker Screenshots | XM Group | Questrade | |
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| Regulation | XM Group | Questrade | |
|---|---|---|---|
| Trust Score | 93 | 85 | |
| Year Founded | 2009 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | XM Group | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA 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). | Yes | No |
| Tier-2 Licenses (Trusted) | XM Group | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | XM Group | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1583 | 675 | |
| Forex Pairs (Total) | 54 | 110 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | No | |
| 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 | XM Group | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1.1 | 0.8 or higher | |
| All-in Cost EUR/USD - Raw spread account | 0.7+ | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | XM Group | Questrade | |
|---|---|---|---|
| Minimum Deposit | $5 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | No | No |
| Trading Platforms | XM Group | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | XM Group | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 100 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | XM Group | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 100 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | XM Group | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | XM Group | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | XM Group | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | XM Group Review | Questrade Review |
| Overall | XM Group | Questrade | |
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| Trust Score | 93 | 85 | |
| Winner | check_circle | ||
| Review | XM Group Review | Questrade Review |
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