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.
When comparing online brokers XM Group and Questrade, both hold significant trust in the world of trading but show some differences in regulatory credentials. Founded in 2009, XM Group has accumulated a Trust Score of 88 from ForexBrokers.com, marking it as a trusted option with several licenses supporting its credibility. Specifically, XM Group holds four Tier-1 licenses, which denote high trust, and one Tier-2 license, representing a reliable standing. Despite not being publicly traded or part of the banking sector, XM Group maintains a strong regulatory framework.
In comparison, Questrade, established in 2000, holds a ForexBrokers.com Trust Score of 86. While it is also trusted, its regulatory framework includes only two Tier-1 licenses and lacks Tier-2 licenses, presenting a different landscape for prospective users. Like XM Group, Questrade is not publicly traded nor a bank, focusing on providing a secure environment for traders through its regulatory measures. Both brokers offer unique regulatory attributes that cater to various preferences in the market.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Year Founded | 2009 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing XM Group and Questrade in terms of commissions and fees, XM Group tends to present some challenges. For standard accounts, XM Group's spreads are considered high, and a clear picture of average spreads for their commission-based XM Zero account isn't readily available. Despite these drawbacks, XM Group receives a strong rating of 4 out of 5 stars for commissions and fees and holds the #33 position among 63 brokers according to ForexBrokers.com.
Questrade, on the other hand, offers a fee structure that includes target spreads on currency pairs like EUR/USD at 1.9 pips, which is above the typical industry average. Consequently, Questrade earns a lower rating of 3 out of 5 stars for commissions and fees. In terms of ranking, Questrade is positioned at #58 out of 63 brokers in the Commissions and Fees category, according to ForexBrokers.com.
Overall, XM Group is perceived more favorably than Questrade in this comparison, largely due to its higher star rating and better ranking. Traders looking to balance fees with other features may consider XM Group as a potentially more cost-effective option between the two brokers.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Minimum Deposit | $5 | $250 |
| Average Spread EUR/USD - Standard | 1.6 | N/A |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing XM Group and Questrade for their range of investments, both platforms provide an extensive array of options for traders. XM Group offers a substantial total of 1,394 tradeable symbols, whereas Questrade features 641. In terms of forex trading, XM Group provides traders with 55 forex pairs, while Questrade expands its offerings to 110 pairs. Both brokers give clients the opportunity to trade forex either as CFDs or spot contracts. Additionally, each broker allows clients to access U.S. market exchange-traded securities, such as purchasing Apple shares, as well as international shares like Vodafone. However, when it comes to copy trading, XM Group stands out by offering this service, which Questrade does not. Neither broker provides the capacity to purchase actual cryptocurrencies directly, but both facilitate trading in cryptocurrency derivatives.
Despite XM Group's impressive list of tradeable symbols, it is rated slightly lower than Questrade in terms of investment variety. XM Group earns a 4.5-star rating and ranks 23rd out of 63 brokers, as per ForexBrokers.com. In contrast, Questrade receives a full 5-star rating and holds the 11th position according to the same ranking body. Ultimately, the choice between these two platforms may depend on specific trading priorities, such as the desire for more forex pairs or copy trading features with XM Group against Questrade's higher rating and unique strengths.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1394 | 641 |
| Forex Pairs (Total) | 55 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| 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 it comes to trading platforms and tools, both XM Group and Questrade offer robust options for their users. XM Group provides flexibility with MetaTrader 4 and 5, which are popular platforms for both beginner and advanced traders. In contrast, Questrade offers a proprietary platform, designed to provide an intuitive and seamless trading experience. Both brokers support Windows-based desktop platforms and web-based trading, ensuring accessibility for different trading styles and preferences. Additionally, both XM Group and Questrade provide free virtual demo accounts, allowing traders to undertake simulated trading without any financial risk.
Copy trading enthusiasts may find XM Group more appealing due to its support for this feature, whereas Questrade does not offer copy trading. However, Questrade includes DupliTrade for automated trading strategies. Charting tools differ slightly between the two, with Questrade offering 20 drawing tools compared to XM Group’s 15; both allow direct trading from stock charts. While XM Group offers 7 fields for watch lists, Questrade excels with 52 columns, providing detailed tracking capabilities. Despite these differences, both brokers receive a rating of 4 stars for their trading platforms and tools and are similarly ranked, with XM Group at #31 and Questrade at #34 by ForexBrokers.com.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 64 |
| Charting - Drawing Tools (Total) | 15 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both XM Group and Questrade offer their users iPhone and Android apps, making it easy to trade stocks or forex while on the move. Their mobile platforms allow traders to receive price alerts and sync watchlists with their online accounts. Both apps also provide the ability to draw trendlines and view multiple chart time frames, such as daily, weekly, or intraday, ensuring a comprehensive mobile trading experience. XM Group offers 30 technical studies for chart analysis, while Questrade boasts a larger selection with 64. However, Questrade's app has the added benefit of auto-saving chart drawings, a feature not available with XM Group. Both platforms provide real-time quotes for watchlists, supporting informed trading decisions.
When comparing their rankings and ratings, both brokers have been given a four-star rating for their mobile trading apps. Within the competitive landscape of 63 brokers, XM Group holds a slight edge, ranked at #29 by ForexBrokers.com, with Questrade following at #34. Despite slight differences, both apps are well-equipped to cater to the needs of both novice and experienced traders, ensuring reliable and efficient mobile trading experiences.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
XM Group and Questrade offer distinct approaches to market research, catering to different investor needs. XM Group provides daily market commentary and delivers forex news from top-tier sources such as Bloomberg and Reuters, giving traders timely insights into market dynamics. In contrast, Questrade does not offer these daily insights or top-tier forex news, being more suited to investors who focus on tools and research from specific companies. Both brokers provide technical analysis via Trading Central, though XM Group edges ahead with its sentiment-based trading tool, offering insights into market sentiment across various instruments, a feature not available with Questrade.
When exploring proprietary research tools, Questrade partners with Autochartist and TipRanks, giving users access to robust technical analysis and broader market research. However, both platforms offer an economic calendar for global news events. In terms of research ratings, XM Group shines with a 5-star rating and ranks #8 among 63 brokers according to ForexBrokers.com. Questrade, while still offering valuable insights, holds a 3.5-star research rating and ranks #51, indicating a more specialized offering that may appeal to traders who prioritize different aspects of their trading experience.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing educational resources for beginners from online brokers, XM Group and Questrade, each has something to offer. Both provide over ten educational pieces focused on forex and CFDs, including articles and videos. However, XM Group goes a step further by hosting monthly online educational webinars, whereas Questrade does not. While both have a searchable archive of recorded client webinars, beginners might find XM Group's monthly live sessions more engaging.
In terms of video content, both brokers offer a selection aimed at beginner traders, with at least ten beginner-focused videos available. XM Group also caters to more experienced traders by offering advanced educational videos, which Questrade lacks. Neither broker provides an investor dictionary. Overall, XM Group shines brighter with a 5-star rating in education compared to Questrade's 3.5 stars. According to ForexBrokers.com, XM Group ranks #7 in education among 63 brokers, significantly higher than Questrade, which ranks #36.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | No | 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 #17, while Questrade finished with an overall rank of #32.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 88 | 86 |
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Both XM Group and Questrade do not provide the option to purchase actual delivered cryptocurrency, but they both offer the ability to trade cryptocurrency derivatives.
While both XM Group and Questrade do not offer ACH, SEPA, or PayPal for depositing or withdrawing funds, XM Group supports Skrill and both brokers provide options for Visa, Mastercard, and bank wire 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 | XM Group | Questrade | |
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| Trust Score | 88 | 86 | |
| Winner | check_circle | ||
| Review | XM Group Review | Questrade Review |
| Broker Screenshots | XM Group | Questrade | |
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| Regulation | XM Group | Questrade | |
|---|---|---|---|
| Trust Score | 88 | 86 | |
| 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 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | XM Group | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | Yes | |
| 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 | 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | XM Group | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1394 | 641 | |
| Forex Pairs (Total) | 55 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | XM Group | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.6 | N/A | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | XM Group | Questrade | |
|---|---|---|---|
| Minimum Deposit | $5 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | XM Group | Questrade | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | XM Group | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 52 | |
| Charting - Indicators / Studies (Total) | 30 | 64 | |
| Charting - Drawing Tools (Total) | 15 | 20 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | XM Group | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | XM Group | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | No | No |
| Major Forex Pairs | XM Group | Questrade | |
|---|---|---|---|
| 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 | XM Group Review | Questrade Review |
| Overall | XM Group | Questrade | |
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| Trust Score | 88 | 86 | |
| Winner | check_circle | ||
| Review | XM Group Review | Questrade Review |
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