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.
Founded in 2009, XM Group has established itself as a trustworthy online broker, boasting a ForexBrokers.com Trust Score of 88, which places it in the 'trusted' category. XM Group is not publicly traded nor is it a bank, but it operates under strict regulatory standards, holding four Tier-1 licenses considered highly trusted by ForexBrokers.com and one Tier-2 license. These credentials reflect its commitment to providing a secure trading environment for its users.
In contrast, Questrade, which has been operating since 2000, holds a slightly lower ForexBrokers.com Trust Score of 86 but still ranks as trusted. Like XM Group, Questrade is neither publicly traded nor a bank. It currently holds two Tier-1 licenses, demonstrating a solid level of regulatory oversight, although it doesn't have any Tier-2 licenses. Both brokers offer reliable platforms for traders, but XM Group edges slightly ahead in terms of regulatory trust metrics.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Year Founded | 2009 | 2000 |
| Publicly Traded (Listed) | ||
| Bank | ||
| 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 | ||
| 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 XM Group and Questrade, both online brokers offer a wide range of investment options for their clients. XM Group provides 1,394 tradeable symbols, which is notably larger than Questrade's 641 symbols. However, when it comes to forex pairs, Questrade offers 110 pairs compared to XM Group's 55 pairs. Both brokers allow clients to trade forex through CFDs or spot contracts and provide access to exchange-traded securities on U.S. and international markets. Additionally, while XM Group supports copy trading, this feature is not available with Questrade. Both brokers facilitate investment in cryptocurrency derivatives, though the actual purchase of cryptocurrencies is not supported by either.
Despite XM Group’s broader range of tradeable symbols, Questrade receives a higher rating and ranking for the range of investments. Questrade is rated 5 stars and ranks 11th out of 63 brokers, compared to XM Group’s 4.5 stars and 24th position. This suggests that Questrade might be better appreciated in terms of the diversity and appeal of its investment offerings, despite a smaller selection of total tradeable symbols. Both brokers cater to diverse trading needs, but personal preferences in trading priorities could make one more appealing than the other.
| 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 | |
| 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 XM Group to Questrade for trading platforms and tools, both brokers offer similar foundational features but differentiate in specific areas. Both XM Group and Questrade provide simulated trading through free virtual demo accounts, allowing users to practice strategies without financial risk. They each have Windows-based desktop platforms and web-based platforms accessible through browsers. However, while Questrade impresses with its proprietary platform developed in-house, XM Group relies on industry-standard platforms, offering both MetaTrader 4 and MetaTrader 5, which are favorites among traders for their comprehensive features.
For those interested in copy trading, XM Group caters to such needs, a feature Questrade does not offer. On the other hand, Questrade supports DupliTrade, a different automated trading service, which is absent from XM's offerings. Charting tools at Questrade include 20 drawing tools, surpassing XM's 15, and a notable number of 52 columns for watchlists in contrast to XM Group's 7. Despite these differences, both brokers receive similar accolades, each rated four out of five stars for trading platforms and tools by ForexBrokers.com. Interestingly, XM Group ranks slightly higher, at 31st place compared to Questrade's 34th, among a total of 63 brokers in this category.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | |
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | Yes | |
| DupliTrade | Yes | |
| ZuluTrade | ||
| 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.
When comparing the mobile trading apps of XM Group and Questrade, both platforms offer comprehensive features that cater to traders on the go. For iPhone and Android users, each provides an app that facilitates efficient trading. Both platforms support stock or forex price alerts, ensuring traders can stay updated on market movements. Additionally, they offer watchlist syncing, allowing users to sync their watchlists across devices. When it comes to charting capabilities, XM Group provides 30 technical studies, whereas Questrade comes ahead with 64. Both apps allow traders to draw trendlines and view multiple time frames on charts, but Questrade further enhances its offering by automatically saving chart drawings.
Creating watchlists with real-time quotes is a feature both XM Group and Questrade provide, adding to the ease of monitoring investments. Despite these similarities, there are differences in user satisfaction and rankings. Both apps are rated four out of five stars for their mobile trading experience. However, according to ForexBrokers.com, XM Group holds the 29th spot out of 63 brokers for mobile trading apps, while Questrade is ranked at 34. This comparison reveals that while both brokers excel in different areas, XM Group slightly outpaces Questrade in the overall ranking as per ForexBrokers.com.
| 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 | Yes | |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings between XM Group and Questrade, XM Group stands out by providing daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. They also offer tools from Trading Central and a sentiment-based trading tool that displays trader positions across different currency pairs. Meanwhile, Questrade offers unique resources like the Autochartist technical analysis tool and market research from TipRanks. Both brokers provide an economic calendar to keep traders informed of global news events.
In terms of rankings and ratings, XM Group excels with a 5-star research rating and holds the 8th spot among 63 brokers in the ForexBrokers.com research category. On the other hand, Questrade has a 3.5-star rating and is ranked 51st. These differences highlight XM Group's comprehensive market insights, which cater to traders seeking extensive research tools and information. In contrast, Questrade provides specialized resources that may appeal to traders looking for specific technical analysis capabilities.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | |
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at XM Group and Questrade, both online brokers provide a variety of materials to help new traders learn about forex and CFDs. XM Group excels in offering a wide range of educational resources with over ten beginner-friendly educational videos and a comprehensive selection of articles, videos, and archived webinars. Beginners particularly benefit from XM Group's monthly online webinars and access to a searchable archive of recorded sessions. Meanwhile, Questrade also provides educational materials, meeting the baseline requirement of offering at least ten resources focused on forex and CFDs. However, it falls short compared to XM Group in terms of offering advanced educational videos and does not conduct monthly webinars. Both brokers provide a searchable archive of recorded webinars to continue learning at one's own pace.
Regarding overall education ratings, XM Group receives a stellar 5-star rating, placing it at the impressive rank of #7 out of 63 brokers in the Education category on ForexBrokers.com. In contrast, Questrade holds a respectable position but with a 3.5-star rating and a rank of #36, it lags behind XM Group. This suggests that while both platforms offer solid resources for beginner traders, XM Group provides a more comprehensive education experience, making it a better option for those keen on accessing diverse and frequent learning opportunities.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | |
| Investor Dictionary (Glossary) |
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
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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 buy actual delivered cryptocurrency, but they each offer the ability to purchase cryptocurrency derivatives.
When comparing online brokers XM Group and Questrade, both offer Visa, Mastercard, and bank wire options for deposits and withdrawals, while XM Group additionally provides Skrill as a payment method, unlike Questrade, neither broker supports ACH, SEPA transfers, or PayPal.
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) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| 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 | ||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | |||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | |||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes |
| Tier-2 Licenses (Trusted) | XM Group | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| 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 | ||
| 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 | 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 | |||
| Inactivity Fee | Yes | ||
| Execution: Agency Broker | Yes | ||
| Execution: Market Maker | Yes |
| Funding | XM Group | Questrade | |
|---|---|---|---|
| Minimum Deposit | $5 | $250 | |
| 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 | XM Group | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | ||
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | Yes | ||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| 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 | Yes | ||
| Mobile Economic Calendar | Yes | Yes |
| Research | XM Group | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | ||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | ||
| Economic Calendar | Yes | Yes |
| Education | XM Group | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | ||
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | ||
| Investor Dictionary (Glossary) |
| 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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