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.
Questrade, established in 2000, and Xtrade, founded in 2003, are both notable options for online trading, although there are distinct differences in their regulatory standings. Neither company is listed on a stock exchange or operates as a bank. Questrade holds two Tier-1 licenses, which offer a high level of trust and security according to ForexBrokers.com, earning them a Trust Score of 86 out of 99. In comparison, Xtrade has one Tier-1 license and one Tier-2 license, which contributes to a moderate Trust Score of 74.
Both firms provide viable trading opportunities, yet Questrade stands out with its stronger regulatory backing, reflected in its higher Trust Score and additional Tier-1 license. Xtrade, while still presenting a reasonable option, is rated as an average risk due to its standalone Tier-1 and Tier-2 license combination. These factors make Questrade potentially more appealing for those prioritizing regulatory trust and a sense of security in their online trading experience.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Year Founded | 2000 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| 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 | 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 offerings of Questrade and Xtrade, Questrade stands out with a more extensive selection. Questrade provides 641 tradeable symbols, including 110 forex pairs, allowing for greater flexibility and choice. In contrast, Xtrade offers 482 tradeable symbols, featuring 56 forex pairs. Both platforms support forex trading as CFDs or spot contracts, and while neither offers copy trading or the purchase of actual cryptocurrencies, both allow trading in cryptocurrency derivatives. A notable distinction is Questrade's capability to deal in exchange-traded securities on both U.S. and international markets, unlike Xtrade, which lacks this option.
With a 5-star rating for its range of investments, Questrade is recognized for its diverse offerings, securing an impressive 11th position out of 63 brokers in the Range of Investments category by ForexBrokers.com. Meanwhile, Xtrade receives a 3.5-star rating and ranks 49th, indicating it has room for improvement in expanding its investment options. This comparison highlights Questrade as the more versatile choice for those seeking a wider array of investment opportunities.
| 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 | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | 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.
Questrade and Xtrade both offer their own proprietary trading platforms, providing users with a tailored experience on their platforms. While both brokers provide a web-based platform accessible via browser, only Questrade offers a Windows-based desktop download option. Additionally, both brokers grant access to simulated or paper trading through virtual demo accounts, allowing users to hone their skills in a risk-free environment. Neither Questrade nor Xtrade integrates with popular platforms like MetaTrader 4 and 5, and neither supports copy trading. However, Questrade enhances user experience by offering DupliTrade, a feature that Xtrade doesn't provide.
When it comes to charting tools, Xtrade offers significantly more with 100 drawing tools compared to Questrade's 20, giving users more options for technical analysis. Both brokers, however, facilitate trading directly from stock charts, enhancing the efficiency of trades. In terms of watch lists, Questrade allows users to create more detailed lists with 52 columns, significantly more than Xtrade's 9 columns. Their attention to detail contributes to Questrade's higher rating of 4 stars for trading platforms and tools, as opposed to Xtrade's 3.5 stars. This is reflected in their rankings by ForexBrokers.com, where Questrade stands at 34 out of 63, while Xtrade ranks at 58.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | N/A |
| Charting - Drawing Tools (Total) | 20 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Questrade and Xtrade both provide iPhone and Android apps for trading, making it easy for users to trade on the go. However, Questrade stands out with several desirable features. It offers stock and forex price alerts, seamless watchlist syncing with online accounts, and the ability to utilize 64 technical studies for charting. Users can draw trendlines, view multiple time frames, and enjoy automatic saving of drawings on Questrade's app. Additionally, creating a watchlist with real-time quotes is available, setting it apart from Xtrade's more limited capabilities.
While both mobile apps have received a 4-star rating, Questrade is ranked higher in the Mobile Trading Apps category by ForexBrokers.com, coming in at #34 compared to Xtrade's #53. For traders who value comprehensive charting tools and a wide range of customization options, Questrade's mobile app presents a more appealing choice. Meanwhile, those looking for basic trading functions might find Xtrade sufficient, though it lacks the extensive features Questrade provides.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Questrade and Xtrade, both brokers show unique strengths and limitations. Xtrade shines in providing daily market commentary and access to top-tier forex news from renowned sources like Bloomberg, Reuters, and Dow Jones, which can be vital for traders looking for timely updates and insights. On the other hand, Questrade excels in offering advanced tools such as technical analysis and fundamental research from Autochartist and Trading Central, providing traders with in-depth tools to analyze the market. Additionally, Questrade grants access to market research from TipRanks, offering an extra layer of investment insights.
Both brokers offer an economic calendar, which is essential for keeping abreast of global economic events. However, neither Questrade nor Xtrade provides sentiment-based trading tools, which some traders may find a limitation. Despite these differences, both brokers share the same research rating of 3.5 stars and have a close ranking on ForexBrokers.com, with Questrade positioned at #51 and Xtrade just behind at #52 out of 63 brokers. Overall, the choice between these platforms may come down to whether daily market news or advanced analytical tools are more crucial for the trader's needs.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| 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 | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing educational resources for beginners, Questrade and Xtrade both offer a range of options for those interested in learning about forex and CFDs. Both brokers provide at least 10 educational pieces such as articles and videos focused on forex or CFDs, catering to novices who are eager to dive into these trading subjects. However, for those who prefer interactive learning, neither Questrade nor Xtrade hosts monthly online educational webinars for clients. Importantly, Questrade does stand out by offering a searchable archive of recorded webinars, giving users access to a valuable repository of past educational events, unlike Xtrade, which doesn't offer this feature.
For beginners specifically, Questrade shines with more than 10 beginner-focused educational videos, while Xtrade lacks this breadth of content tailored toward new traders. Conversely, Xtrade offers an investor dictionary with over 50 investing terms, a useful tool for beginners looking to familiarize themselves with trading jargon, which is not available from Questrade. Despite both receiving an education rating of 3.5 stars, Questrade ranks higher in the education category as evaluated by ForexBrokers.com, coming in at #36 out of 63 brokers, while Xtrade is slightly behind at #46. These rankings reflect differences in the depth and accessibility of their educational resources for beginners.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | 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
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 74 |
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Both Questrade and Xtrade do not offer the ability to buy actual delivered cryptocurrency, but they both provide options to purchase cryptocurrency derivatives.
Both Questrade and Xtrade allow account funding and withdrawals via Visa, Mastercard, and bank wires, but neither supports ACH, SEPA, or PayPal transfers; however, unlike Questrade, Xtrade additionally offers Skrill as an option 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 | Xtrade | |
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| Trust Score | 86 | 74 | |
| Winner | check_circle | ||
| Review | Questrade Review | Xtrade Review |
| Broker Screenshots | Questrade | Xtrade | |
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| Regulation | Questrade | Xtrade | |
|---|---|---|---|
| Trust Score | 86 | 74 | |
| Year Founded | 2000 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | 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) | No | No | |
| 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 | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Questrade | Xtrade | |
|---|---|---|---|
| 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 | 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 | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | 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 | 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 | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $250 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| 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 | No |
| Mobile Trading | Questrade | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Questrade | Xtrade | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | 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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