Written by ForexBrokers.com
In this head to head comparison of Questrade vs Axi, 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 and Axi are both well-established online brokers, with Questrade founded in 2000 and Axi in 2007. Neither company is a publicly traded entity nor operates as a bank. In terms of regulatory standings, both brokers hold two Tier-1 licenses, which indicates a high level of trust according to ForexBrokers.com. Questrade does not have any Tier-2 licenses, while Axi holds one. This variation leads to a slight difference in their trust scores, with Questrade earning an 86 and Axi an 82, both within the trusted range.
Choosing between Questrade and Axi may come down to personal preferences and requirements, as both offer strong credibility in the marketplace. Investors can feel confident knowing that both brokers operate under rigorous regulatory standards, underscoring their commitment to maintaining a trustworthy trading environment. Whether you're attracted to Questrade's longer history or Axi's regulatory balance, both brokers stand out as reliable choices for online trading enthusiasts.
| Feature |
Questrade
|
Axi
|
|---|---|---|
| Year Founded | 2000 | 2007 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to commissions and fees, Questrade and Axi offer distinct experiences for their users. Questrade has a target spread on the EUR/USD pair at 1.9 pips, which is relatively high when stacked against the industry's average rates. This higher-than-average spread might impact traders who prioritize cost-effectiveness. Questrade, therefore, earns a 3 out of 5-star rating for commissions and fees, placing it at #57 out of 62 brokers ranked by ForexBrokers.com.
In contrast, Axi does not provide specific average spread data, making direct cost comparisons more challenging. However, it still earns a solid 4 out of 5-star rating for its commissions and fees, suggesting a more economical choice for traders in search of lower trading costs. Within ForexBrokers.com's rankings, Axi claims the #44 spot out of 62 brokers.
Overall, while Questrade might offer value in areas beyond fees, Axi stands out as the more price-competitive option among these two brokers, according to available ratings and rankings.
| Feature |
Questrade
|
Axi
|
|---|---|---|
| Minimum Deposit | $250 | $0 |
| 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 offered by Questrade and Axi, there's a notable difference in the variety available to investors. Questrade provides a wide selection, featuring 641 tradeable symbols including 110 forex pairs, alongside the option to invest in exchange-traded securities on both U.S. and international exchanges. Furthermore, Questrade supports trading in cryptocurrency derivatives, expanding their diversified offerings. However, it does not currently support copy trading or the purchase of actual cryptocurrencies. Overall, Questrade shines with a 5-star rating for its range of investments and ranks 11th out of 62 brokers in this category according to ForexBrokers.com.
In contrast, Axi offers a more limited selection, with 175 tradeable symbols and 65 forex pairs, focusing mainly on CFDs without providing access to U.S. or international exchange-traded securities. While Axi also allows trading in cryptocurrency derivatives and stands out with the availability of copy trading, it lacks the option for purchasing actual cryptocurrencies. With a 3.5-star rating for its range of investments, Axi ranks lower at 55th out of 62 brokers in the ForexBrokers.com evaluation. These differences highlight Questrade’s wider array of investment opportunities, making it a more versatile choice for investors seeking diverse trading options.
| Feature |
Questrade
|
Axi
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 175 |
| Forex Pairs (Total) | 110 | 65 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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 comparing Questrade and Axi in terms of trading platforms and tools, both brokers provide certain unique offerings that cater to the diverse needs of traders. Questrade stands out with its in-house developed proprietary platform, offering a customized trading experience for users along with the opportunity for paper trading through a virtual demo account. It provides a comprehensive suite of trading solutions including a Windows-based desktop platform and a browser-based platform, but it does not support the popular MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms. Instead, Questrade offers tools like DupliTrade and ample charting possibilities with 20 drawing tools and capability to trade directly from stock charts, along with extensive watch list options of 52 columns.
On the other hand, Axi differentiates itself by supporting MetaTrader 4, a well-regarded choice in the trading community, and also facilitates copy trading through platforms like ZuluTrade, which allows traders to follow and copy strategies from seasoned traders. Axi offers both Windows-based and web-based platforms, similar to Questrade, but lacks a proprietary platform. Although Axi’s charting features include 15 drawing tools and trading directly from stock charts, the watch list functionality is more limited with only 7 columns. Axi also provides a demo account option for risk-free practice. With ratings of 4 stars for Questrade and 3.5 stars for Axi on trading platforms and tools, and their respective rankings of #34 and #62 by ForexBrokers.com, it's clear that Questrade may offer a more feature-rich environment for traders seeking a wider variety of tools. However, Axi caters well to those who prioritize flexibility in platform choices and the benefits of copy trading.
| Feature |
Questrade
|
Axi
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | Yes |
| 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.
When it comes to mobile trading apps, both Questrade and Axi come equipped with offerings for iPhone and Android users. They provide useful features like stock and forex price alerts, and both allow you to draw trendlines and view a variety of time frames on charts. However, if keeping your watchlists consistent across platforms is important to you, Questrade stands out with its ability to sync watchlists between the mobile app and online account, a feature Axi lacks.
In addition, Questrade users can benefit from a broader range of tools, offering 64 technical studies for chart analysis compared to Axi's 30. Questrade also offers the convenience of automatically saving chart drawings, whereas this feature is absent in Axi's app. When it comes to user ratings, Questrade receives a solid 4 stars, placing them at #34 out of 62 brokers in ForexBrokers.com's Mobile Trading Apps category. Meanwhile, Axi garners 3.5 stars, ranking them at #59. If charting tools and watchlist syncing are priorities, Questrade might be the better option for you.
| Feature |
Questrade
|
Axi
|
|---|---|---|
| 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 evaluating market research offerings between Questrade and Axi, there are both similarities and distinctions to consider. Neither of the brokers provides daily market commentary, but they differ in their sources of forex news updates. Axi offers insights from prominent names like Bloomberg and Reuters, while Questrade does not. However, when it comes to technical analysis tools, both companies provide resources from Autochartist, though Questrade extends its offerings with additional tools from Trading Central, which Axi lacks. On the other hand, Axi does feature sentiment-based trading tools that Questrade does not, giving traders a feel for market positions across various instruments.
Both brokers supply economic calendars to keep clients informed of global economic events, though Axi's market research lacks contributions from TipRanks, unlike Questrade. Neither company has research tools from Acuity Trading. When it comes down to assessments, Questrade holds a slight edge with a 3.5-star rating for research as per ForexBrokers.com, placing it 51st out of 62 brokers, whereas Axi is ranked 55th with a 3-star rating. Overall, if news from top-tier forex suppliers is a priority, Axi might serve you better, but for those seeking comprehensive analysis tools, Questrade presents a compelling choice.
| Feature |
Questrade
|
Axi
|
|---|---|---|
| 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 | Yes |
| 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 Axi offer a solid foundation in forex and CFDs education with more than ten available pieces like articles, videos, and webinars. They also provide beginner-friendly videos to get newcomers comfortable with trading concepts. However, Axi holds an advantage by offering live client webinars each month, a feature not available with Questrade. On the flip side, Questrade compensates with a searchable archive of its recorded webinars, which Axi lacks, allowing users to revisit past sessions at their convenience.
For those seeking deeper trading insights, neither platform offers a comprehensive selection of advanced educational videos. But Axi does offer an investor dictionary to help beginners understand key investment terms, a resource absent from Questrade. When rated on their educational offerings, Questrade holds a slightly higher rating of 3.5 out of 5 stars compared to Axi's 3 stars. Despite this, Axi is ranked higher overall in the Education category according to ForexBrokers.com, coming in at #26 out of 62 brokers, while Questrade is placed at #36.
| Feature |
Questrade
|
Axi
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| 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 Axi. Questrade finished with an overall rank of #32, while Axi finished with an overall rank of #49.
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
|
Axi
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 82 |
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While neither Questrade nor Axi allows the purchase of actual delivered cryptocurrency, both platforms support trading cryptocurrency derivatives, offering investors access to digital asset price movements without owning the underlying assets.
When comparing online brokers Questrade and Axi, both do not support ACH or SEPA transfers, nor do they allow transactions via PayPal; however, while Questrade differs by not supporting Skrill, Axi does, and both brokers enable fund deposits and withdrawals through Visa, Mastercard, and bank wires, offering versatile and convenient financial options to users.
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 | Axi | |
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| Trust Score | 86 | 82 | |
| Winner | check_circle | ||
| Review | Questrade Review |
| Broker Screenshots | Questrade | Axi | |
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| Regulation | Questrade | Axi | |
|---|---|---|---|
| Trust Score | 86 | 82 | |
| Year Founded | 2000 | 2007 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Questrade | Axi | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| 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 | Yes | |
| 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 | Axi | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Questrade | Axi | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 175 | |
| Forex Pairs (Total) | 110 | 65 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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 | Axi | |
|---|---|---|---|
| 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 | Axi | |
|---|---|---|---|
| Minimum Deposit | $250 | $0 | |
| 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 | Axi | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Questrade | Axi | |
|---|---|---|---|
| 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 | Axi | |
|---|---|---|---|
| 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 | No |
| Research | Questrade | Axi | |
|---|---|---|---|
| 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 | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | Axi | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| 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 | Axi | |
|---|---|---|---|
| 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 | Axi | |
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| Trust Score | 86 | 82 | |
| Winner | check_circle | ||
| Review | Questrade Review |
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