Written by ForexBrokers.com
In this head to head comparison of Questrade vs Xtrade, 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 is an online brokerage that holds two Tier-1 licenses, which are considered highly trusted according to ForexBrokers.com. With a Trust Score rating of 86 out of 99, Questrade falls into the "trusted" category, indicating a solid level of trustworthiness. However, the company is not publicly traded and is not a bank. While Questrade does not hold any Tier-2 licenses, its possession of multiple Tier-1 licenses contributes positively to its credibility among investors.
Established in 2003, Xtrade is another contender in the online brokerage market. It holds one Tier-1 license and one Tier-2 license, reflecting a mix of trust and average risk. With a Trust Score rating of 74 according to ForexBrokers.com, Xtrade is deemed to have an average risk level. Like Questrade, Xtrade is neither publicly traded nor a bank. Despite its lower Trust Score compared to Questrade, Xtrade's combination of licenses shows its commitment to maintaining a level of trust in the financial services industry.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Year Founded | 2000 | 2003 |
| Publicly Traded (Listed) | ||
| Bank | ||
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When evaluating the commissions and fees of online brokers, Questrade and Xtrade offer distinct differences. Questrade features a higher target spread on the EUR/USD at 1.9 pips, which is considered steep compared to the industry average. In contrast, Xtrade does not provide average spread data, making it more challenging to assess their costs upfront. It's important to factor these spreads into your decision-making, as they can influence the overall cost of your trading.
Questrade has been rated 3 out of 5 stars for its commissions and fees, which places it at the 58th spot out of 63 brokers in the ForexBrokers.com rankings. The more transparent information provided by Questrade can help traders better understand what to expect when planning their trades, although the spreads themselves might lead to higher costs over time.
In comparison, Xtrade is rated slightly lower at 2.5 out of 5 stars and ranks 63rd out of 63 brokers in the same category. The lack of detailed spread data from Xtrade could be seen as a disadvantage for traders who prioritize transparency in trading costs. For investors seeking a clear picture of what they’ll pay in fees, Questrade might offer a slight edge in terms of available information, despite both brokers having room for improvement in this area.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $250 | $250 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | 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 the range of investments offered by Questrade and Xtrade, it's clear that both platforms provide considerable options for traders but with notable differences. Questrade stands out by offering 641 tradeable symbols, significantly more than Xtrade's 482. In terms of forex trading, Questrade provides access to 110 forex pairs, whereas Xtrade offers 56. Both brokers allow forex trading via CFDs or spot contracts, offering flexibility for traders interested in currency markets. However, when it comes to exchange-traded securities, Questrade provides a more comprehensive service, enabling clients to invest in U.S. stocks like Apple and international stocks such as Vodafone, which remains an unavailable service with Xtrade.
In terms of cryptocurrency, both brokers only offer derivative options but no direct purchase of actual cryptocurrencies is possible. Neither Questrade nor Xtrade support copy trading. Based on user ratings for the range of investments, Questrade shines with a 5-star rating, surpassing Xtrade's 3.5-star review. Furthermore, Questrade ranks 11th in the Range of Investments category according to ForexBrokers.com, whereas Xtrade comes in at 49th out of 63 brokers. This highlights Questrade as a more versatile choice for those seeking extensive investment options.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 482 |
| Forex Pairs (Total) | 110 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | |
| Social Trading / Copy Trading | ||
| 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.
Questrade and Xtrade both offer simulated trading with free virtual demo accounts, appealing to those who wish to practice their trading skills without financial risk. Each broker has its own proprietary trading platform, enabling traders to utilize technology developed in-house. While Questrade offers a Windows-based desktop download platform, Xtrade does not, but both platforms offer web-based trading accessible from any browser. In terms of charting tools, Questrade provides 20 drawing tools, whereas Xtrade excels with 100 drawing tools, which might capture the interest of traders keen on detailed technical analysis. For direct trading from stock charts, both brokers deliver this capability, offering convenience for users.
For watch list customization, Questrade stands out by offering 52 fields compared to Xtrade’s 9, allowing for more detailed monitoring of market data. Both brokers receive acknowledgment for their trading platforms and tools, with Questrade rated four stars and Xtrade three and a half stars. In ForexBrokers.com's rankings among 63 brokers, Questrade ranks at #34, which positions it ahead of Xtrade at #58. Whether prioritizing extensive charting tools or the ability for deeper market analysis through watch lists, both Questrade and Xtrade cater to a range of trader preferences with their unique offerings.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | ||
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| DupliTrade | Yes | |
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 64 | N/A |
| Charting - Drawing Tools (Total) | 20 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 9 |
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When comparing the mobile trading apps of Questrade and Xtrade, both platforms offer accessibility through iPhone and Android apps, providing flexibility for users on different devices. However, Questrade stands out with a richer feature set. It offers stock or forex price alerts, symbol syncing across devices, and the ability to create detailed watchlists with real-time quotes. Xtrade falls short in these areas, not providing these features within its app. Additionally, Questrade supports 64 technical studies for charting, allowing traders to analyze trends more comprehensively, while such detailed charting options are not available with Xtrade.
For investors keen on detailed charting capabilities, Questrade allows drawing trendlines, viewing multiple time frames, and auto-saving drawings on charts, further enhancing the user experience. Xtrade, on the other hand, lacks these advanced tools. Both mobile apps are rated four stars; however, Questrade's more extensive range of features contributes to its higher ranking, placing it at #34 compared to Xtrade’s #53 out of 63 brokers reviewed by ForexBrokers.com. This detailed functionality makes Questrade a more suitable option for those seeking a comprehensive mobile trading experience.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | |
| Watchlist Syncing | Yes | |
| Mobile Charting - Indicators / Studies | 64 | N/A |
| Mobile Charting - Draw Trendlines | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | |
| Mobile Charting - Drawings Autosave | Yes | |
| Mobile Watchlist | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, Xtrade and Questrade have unique offerings that traders should consider. Xtrade stands out with its daily market commentary and forex news from reputable sources including Bloomberg, Reuters, and Dow Jones. What sets Questrade apart is its inclusion of advanced technical analysis tools like Autochartist and Trading Central, as well as market research from TipRanks. Both brokers provide essential economic calendars to keep traders informed on global events. However, neither offers sentiment-based trading tools or features from Acuity Trading.
Rating-wise, both Questrade and Xtrade receive a 3.5-star rating for their research capabilities. Within the larger pool of 63 brokers evaluated by ForexBrokers.com, Questrade is positioned at rank #51, just a notch above Xtrade, which ranks at #52. This suggests that while both brokers offer a decent research experience, their standing in the industry reveals areas for improvement. Consider your priorities in market research features when choosing between these two options.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | |
| Social Sentiment - Currency Pairs | ||
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered to beginners by Questrade and Xtrade, both brokers provide a solid foundation for learning about forex and CFDs. They each offer more than 10 educational pieces, ranging from articles to videos, focusing specifically on these trading areas. However, Questrade takes a slight edge with its searchable archive of previously recorded client webinars, making it easier for users to access past learning sessions, while Xtrade does not provide this feature.
In terms of beginner-focused educational content, Questrade again steps ahead by offering at least 10 videos specifically designed for novice traders. Xtrade, on the other hand, lacks this targeted approach for beginners. However, Xtrade compensates somewhat by providing an investor dictionary with definitions for over 50 investing terms, which can be a helpful tool for traders new to the terminology. Both brokers earn a 3.5-star rating for their educational offerings, but Questrade is ranked higher at #36 out of 63 brokers in the Education category according to ForexBrokers.com, compared to Xtrade's #46 ranking.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | ||
| Client Webinars (Archived) | Yes | |
| Videos - Beginner Trading Videos | Yes | |
| Videos - Advanced Trading Videos | ||
| 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 Xtrade. Questrade finished with an overall rank of #32, while Xtrade finished with an overall rank of #60.
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
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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 74 |
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Both Questrade and Xtrade provide options for buying cryptocurrency derivatives, but neither platform offers the ability to purchase actual delivered cryptocurrency.
Comparing online brokers, Questrade and Xtrade both support Visa, Mastercard, and bank wires for account deposits and withdrawals; however, Xtrade additionally offers Skrill, whereas neither broker supports 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 | Xtrade | |
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| Trust Score | 86 | 74 | |
| Winner | check_circle | ||
| Review | Questrade Review | Xtrade Review |
| Broker Screenshots | Questrade | Xtrade | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | Questrade | Xtrade | |
|---|---|---|---|
| Trust Score | 86 | 74 | |
| Year Founded | 2000 | 2003 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Questrade | Xtrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | |||
| 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) | Questrade | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA/Central Bank Authorised) | |||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | Questrade | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 482 | |
| Forex Pairs (Total) | 110 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | ||
| Int'l Stock Trading (Non CFD) | Yes | ||
| Social Trading / Copy Trading | |||
| 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 | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | |||
| Inactivity Fee | |||
| Execution: Agency Broker | Yes | ||
| Execution: Market Maker | Yes |
| Funding | Questrade | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $250 | $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 | Questrade | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | ||
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | |||
| MetaTrader 4 (MT4) | |||
| MetaTrader 5 (MT5) | |||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| Trading Tools | Questrade | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | ||
| Watchlists - Total Fields | 52 | 9 | |
| Charting - Indicators / Studies (Total) | 64 | N/A | |
| Charting - Drawing Tools (Total) | 20 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes |
| Mobile Trading | Questrade | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | ||
| Mobile Watchlist | Yes | ||
| Watchlist Syncing | Yes | ||
| Mobile Charting - Indicators / Studies | 64 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | ||
| Mobile Charting - Multiple Time Frames | Yes | ||
| Mobile Charting - Drawings Autosave | Yes | ||
| Mobile Economic Calendar | Yes |
| Research | Questrade | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | ||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | ||
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | |||
| Economic Calendar | Yes | Yes |
| Education | Questrade | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | |||
| Client Webinars (Archived) | Yes | ||
| Videos - Beginner Trading Videos | Yes | ||
| Videos - Advanced Trading Videos | |||
| Investor Dictionary (Glossary) | Yes |
| Major Forex Pairs | Questrade | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | Questrade | Xtrade | |
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| Trust Score | 86 | 74 | |
| Winner | check_circle | ||
| Review | Questrade Review | Xtrade Review |
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