Written by ForexBrokers.com
In this head to head comparison of Questrade vs Alpari, 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, founded in 2000, and Alpari, established in 1998, are two online brokers that offer a range of services for trading enthusiasts. Neither Questrade nor Alpari are publicly traded companies or banks, but they differ significantly in their regulatory standings. Questrade holds two Tier-1 licenses, the most reliable according to ForexBrokers.com, signifying a strong adherence to regulatory standards. Alpari, on the other hand, does not hold any Tier-1 licenses, which can be a point of concern for cautious traders.
The ForexBrokers.com Trust Score further highlights the differences in their trustworthiness. Questrade garners a Trust Score of 86 out of 99, placing it in the "trusted" category, while Alpari scores 68, categorizing it as "high risk." This disparity suggests Questrade may provide a more secure option for traders prioritizing regulation and safety. As you decide between these brokers, considering their trust scores and licenses could be crucial in making an informed choice.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Year Founded | 2000 | 1998 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 0 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing online brokers Questrade and Alpari, there are noticeable differences in their commissions and fees. Questrade has a target spread of 1.9 pips on the EUR/USD, which is relatively high compared to the industry's average. This means traders might face steeper costs for trading currency pairs. In terms of ratings, Questrade holds a 3-star rating for its commissions and fees and is ranked #57 out of 62 brokers by ForexBrokers.com for this category.
Alpari, on the other hand, does not provide average spread data, which can make it challenging for traders to anticipate their trading costs precisely. However, Alpari's overall structure of commissions and fees tends to be more favorable, earning it a 4-star rating. Additionally, it is ranked #41 out of 62 brokers according to ForexBrokers.com, indicating a more competitive edge compared to Questrade in this area.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Minimum Deposit | $250 | $20 |
| 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 | Yes |
| 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 range of investments available, Questrade offers a wider variety than Alpari. Questrade provides access to 641 tradeable symbols, including 110 forex pairs, offering versatility for investors interested in diverse market opportunities. Traders can also purchase exchange-traded securities on both U.S. and international exchanges, allowing them to invest in notable companies like Apple and Vodafone directly. Although Questrade doesn't offer copy trading or the option to buy actual cryptocurrency, it does provide cryptocurrency derivatives for those exploring digital asset exposure. It's rated five stars for its range of investments, reflecting its broad asset selection.
In contrast, Alpari hosts 105 tradeable symbols, with 46 forex pairs to choose from, offering a more limited selection for traders. Unlike Questrade, Alpari does not allow clients to buy U.S. exchange-traded securities, but it does support investments in international exchange securities. Alpari earns an advantage with its copy trading feature, appealing to investors looking to mimic the trades of others for potential returns. While both brokers facilitate cryptocurrency derivatives, neither supports the purchase of actual cryptocurrency. Rated three stars, Alpari ranks lower compared to Questrade, positioning it at the bottom among 62 brokers for its investment range.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 105 |
| Forex Pairs (Total) | 110 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| 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 choosing between Questrade and Alpari, both brokers offer some standout features for their trading platforms and tools. For those looking to start with simulated trading, both Questrade and Alpari provide free virtual demo accounts, allowing beginners to practice without financial risk. Each broker has developed its own proprietary platform and supports Windows-based desktop downloads as well as web-based trading. However, Alpari offers the popular MetaTrader 4 and 5 platforms, while Questrade does not. Instead, Questrade supports DupliTrade for traders interested in social trading, while Alpari offers copy trading but doesn't support DupliTrade.
For visual traders, Questrade includes a wider range of options with 20 drawing tools compared to Alpari's 15. Both platforms allow users to trade directly from stock charts, adding to the convenience for technical traders. While Questrade excels in customization with 52 fields for watch lists, Alpari provides 7. Despite these differences, both brokers have earned a four-star rating for their trading platforms and tools. However, Questrade ranks higher according to ForexBrokers.com, placing 34th out of 62 brokers in terms of platform and tool offerings, compared to Alpari's 55th position.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Questrade and Alpari both offer iPhone and Android apps, letting you trade anytime, anywhere. They both provide stock and forex price alerts and the ability to create watchlists with real-time quotes. However, Questrade stands out with watchlist symbol syncing, meaning any changes made on the app or online account automatically sync. Alpari, on the other hand, does not offer this feature. While both platforms allow users to draw trendlines and view different time frames on charts, Questrade excels with an impressive 64 technical studies compared to Alpari's 30. Moreover, Questrade's app autosaves your chart drawings, a feature missing in Alpari's app.
In terms of user ratings, both Questrade and Alpari hold a solid four-star rating for their mobile trading apps. However, in the rankings by ForexBrokers.com, Questrade is placed at #34 out of 62 brokers, whereas Alpari is ranked at #56. While both apps offer a comprehensive suite of trading tools, Questrade's overall performance and features like watchlist syncing and autosave functionality give it a competitive edge for traders seeking a more integrated mobile experience.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Questrade and Alpari for market research tools, they each bring unique offerings to the table. Neither platform provides daily market commentary, but Alpari stands out by offering forex news from renowned sources like Bloomberg or Reuters, a feature Questrade lacks. Both brokers support technical and fundamental analysis tools from Autochartist; however, Questrade pulls ahead by also integrating Trading Central's Technical Analytics, a service not available with Alpari. When it comes to sentiment-based trading tools, neither broker offers solutions that provide ratios of long or short positions across currency pairs. Questrade utilizes TipRanks for market research, a feature absent in Alpari's lineup.
Both Questrade and Alpari provide an economic calendar to help traders track global events, which is essential for making informed decisions. Despite these offerings, Questrade receives a slightly higher research rating of 3.5 stars compared to Alpari's 3 stars. According to ForexBrokers.com, Questrade is ranked 51st out of 62 brokers in the Research category, while Alpari trails at the 57th position. This assessment highlights Questrade's slight edge over Alpari concerning research capabilities, despite neither being at the forefront in terms of competitive rankings.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Daily Market Commentary | No | No |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | Yes |
| 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 it comes to educational resources for beginners, both Questrade and Alpari provide comprehensive materials aimed at teaching forex and CFD trading. Each offers over ten educational pieces, such as articles and videos, with a beginner-friendly focus. However, Questrade stands out with a searchable archive of previously recorded client webinars, a feature Alpari does not offer. Neither platform provides live monthly webinars, but both have a variety of beginner videos to help new traders get acquainted with fundamental trading concepts.
While Questrade and Alpari provide strong educational foundations for beginners, there are noticeable differences for those seeking advanced learning. Neither broker offers at least ten advanced educational videos for experienced traders. However, Alpari boasts an investor dictionary with over 50 investing terms, a resource Questrade lacks. In terms of overall education ratings, Questrade scores slightly higher at 3.5 stars compared to Alpari's 3 stars. Additionally, Questrade ranks 36th among 62 brokers in the Education category according to ForexBrokers.com, whereas Alpari ranks 48th. This ranking suggests that while both brokers are comparable, Questrade might have a slight edge in terms of the educational content it offers to traders.
| Feature |
Questrade
|
Alpari
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Questrade is better than Alpari. Questrade finished with an overall rank of #32, while Alpari finished with an overall rank of #57.
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
|
Alpari
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 68 |
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Both Questrade and Alpari do not provide options to purchase actual delivered cryptocurrencies, but they do offer the ability to trade cryptocurrency derivatives, making them suitable choices for investors interested in trading cryptocurrency without owning the underlying asset.
When comparing online brokers Questrade and Alpari, neither offers ACH or SEPA transfers, PayPal, or Skrill (except for Alpari, which does offer Skrill), but both provide options for Visa, Mastercard, and bank wire transfers for depositing or withdrawing account funds.
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 | Alpari | |
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| Trust Score | 86 | 68 | |
| Winner | check_circle | ||
| Review | Questrade Review |
| Broker Screenshots | Questrade | Alpari | |
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| Regulation | Questrade | Alpari | |
|---|---|---|---|
| Trust Score | 86 | 68 | |
| Year Founded | 2000 | 1998 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 2 | 0 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Questrade | Alpari | |
|---|---|---|---|
| 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 | No |
| Tier-2 Licenses (Trusted) | Questrade | Alpari | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Questrade | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 105 | |
| Forex Pairs (Total) | 110 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| 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 | Alpari | |
|---|---|---|---|
| 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 | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | Alpari | |
|---|---|---|---|
| Minimum Deposit | $250 | $20 | |
| 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 | Alpari | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | Alpari | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | Alpari | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Questrade | Alpari | |
|---|---|---|---|
| Daily Market Commentary | No | No | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | Alpari | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Questrade | Alpari | |
|---|---|---|---|
| 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 |
| Overall | Questrade | Alpari | |
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| Trust Score | 86 | 68 | |
| Winner | check_circle | ||
| Review | Questrade Review |
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