Written by ForexBrokers.com
In this head to head comparison of City Index 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.
City Index and Questrade each provide online brokerage services, but they vary significantly in their trust ratings and regulatory backing. Founded in 1983, City Index is publicly traded and boasts a top-tier ForexBrokers.com Trust Score of 99, reflecting its high level of trustworthiness. It holds seven Tier-1 licenses and one Tier-2 license, endorsements that signal its extensive regulatory compliance and reputation within the financial sector. Unlike City Index, Questrade was founded more recently in 2000 and isn't publicly traded. It has a solid Trust Score of 86, which is categorized as trusted, and is backed by two Tier-1 licenses. However, Questrade lacks Tier-2 licenses, which might be a consideration for investors focused on regulatory security.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Year Founded | 1983 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
City Index and Questrade are prominent brokers known for trading services, but they differ significantly in their commissions and fees structures. City Index offers competitive pricing for trading CFDs, forex, and spread-betting products, aligning with the industry average. The broker features accounts like the Premium Trader account, accessible to active traders depositing over £10,000, offering exclusive pricing and dedicated service. City Index's CFD account showcases an average spread of 0.74 pips on EUR/USD, which matches the industry standard, although it doesn't surpass top competitors such as Tickmill and FP Markets. Additionally, City Index incentivizes high-volume traders with rebates, ranging from £4 to £7.5 per million in the U.K. and AUD $4.5 to $14.5 per million in Australia.
Questrade contrasts with City Index by offering a higher target spread of 1.9 pips on the EUR/USD, which is considered steep when compared to industry averages. This shows that Questrade might not be the first choice for cost-sensitive forex traders looking for tighter spreads.
In terms of rankings and ratings, City Index stands out with a solid 4.5-star rating for their commissions and fees, earning them the 14th position out of 62 brokers according to ForexBrokers.com. Conversely, Questrade receives a 3-star rating and is ranked 57th, reflecting its less competitive fee structure in comparison to City Index.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Minimum Deposit | £100.00 | $250 |
| Average Spread EUR/USD - Standard | 1.4 | N/A |
| All-in Cost EUR/USD - Active | 0.74 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing City Index and Questrade, investors will find significant differences in the types of assets offered by each online broker. City Index excels with an extensive offering of 13,500 tradable symbols, including 66 forex pairs. This broker also provides the option to trade forex as CFDs or spot contracts, and investors can engage in copy trading. However, City Index does not offer exchange-traded securities on either U.S. or international exchanges, nor does it allow clients to purchase actual cryptocurrencies, though they do offer cryptocurrency derivatives.
In contrast, Questrade provides access to a smaller total of 641 tradable symbols but stands out by allowing clients to purchase exchange-traded securities on both U.S. and international exchanges, such as Apple and Vodafone shares. Questrade offers a greater range of 110 tradable forex pairs and supports trading forex as CFDs or spot contracts. Despite not offering copy trading or the purchase of actual cryptocurrencies, investors can still engage with cryptocurrency derivatives. Both brokers receive high marks for their range of investments, with City Index ranked #8 and Questrade ranked #11 by ForexBrokers.com, both earning 5-star ratings in this category.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 641 |
| Forex Pairs (Total) | 66 | 110 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | 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.
When comparing City Index and Questrade, both online brokers provide a comprehensive trading experience with free virtual demo accounts, offering investors the opportunity to practice trading without risk. City Index and Questrade each have proprietary platforms and support Windows-based desktop downloads, alongside convenient web-based trading platforms. However, City Index goes a step further by offering copy trading, a feature Questrade lacks. Additionally, City Index provides access to MetaTrader 4, a tool not available with Questrade. Neither broker offers MetaTrader 5 or ZuluTrade, but Questrade supports DupliTrade, unlike City Index.
In terms of charting capabilities, City Index significantly outshines Questrade with 239 drawing tools compared to Questrade's 20. Both brokers allow users to execute trades directly from stock charts, enhancing trading efficiency. Watch lists are more customizable in Questrade, providing 52 fields compared to City Index's 11. While City Index receives a higher rating of 4.5 stars for its trading platforms and tools, Questrade closely follows with 4 stars. According to ForexBrokers.com, City Index holds the 10th position among 62 brokers, whereas Questrade is ranked 34th in the same category.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 64 |
| Charting - Drawing Tools (Total) | 239 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading, both City Index and Questrade provide convenient solutions for iPhone and Android users. Traders can enjoy stock and forex price alerts, real-time quotes, and synchronized watchlists across devices with either app. City Index stands out with 88 technical studies available for chart analysis, while Questrade offers 64. Both platforms allow drawing trendlines and viewing charts across different time frames, with auto-saving features for any chart modifications. This ensures a seamless trading experience whether you’re at home or on the go.
In terms of user feedback and expert reviews, City Index receives a higher rating of 4.5 stars compared to Questrade's 4 stars. According to ForexBrokers.com, City Index ranks #9 among 62 brokers for mobile trading apps, whereas Questrade is placed at #34. This suggests that while both brokers offer capable mobile apps, City Index's app may provide a slightly more comprehensive trading experience. Whether you prioritize a wider range of technical studies or higher app rankings, these options cater to different trading needs on mobile platforms.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings, City Index steps ahead with its daily commentary and access to top-tier forex news from sources like Bloomberg and Reuters, features not available with Questrade. Both platforms provide access to Trading Central’s analysis tools, but City Index edges out with its exclusive sentiment-based trading tool, which offers insights into market positions. Furthermore, both brokers include an economic calendar for real-time updates on global news events, allowing traders to stay informed. Meanwhile, Questrade holds its own with its provision of research tools from Autochartist and TipRanks, aiding traders with valuable technical and market insights.
Looking at ratings, City Index shines brighter with 4.5 stars for research, compared to Questrade's 3.5 stars. According to ForexBrokers.com, City Index is positioned at #10 for its research capabilities among 62 brokers, demonstrating its strong standing in the market. In comparison, Questrade is ranked at #51, indicating room for improvement in its research offerings. With a variety of tools and high-quality news, City Index caters more to traders seeking comprehensive market research, whereas Questrade offers a more focused set of tools, potentially appealing to those who utilize specific research resources.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered by City Index and Questrade for beginners, there are several key differences to note. Both platforms provide more than 10 educational pieces focused on forex or CFDs, including articles, videos, and webinars. City Index, however, stands out by offering monthly online educational webinars, which Questrade does not. Both brokers have searchable archives of recorded webinars and feature a range of beginner-friendly educational videos. Yet, City Index goes a step further with advanced educational videos for more experienced traders, a feature that Questrade lacks. Additionally, City Index includes an investor dictionary with over 50 investing terms to help beginners get started, while Questrade does not provide this resource.
City Index's commitment to comprehensive education for traders reflects in their higher ratings, earning 4.5 stars for education compared to Questrade's 3.5 stars. This dedication to learning resources places City Index at rank #9 in ForexBrokers.com's education category, significantly ahead of Questrade, which holds the #36 spot among 62 brokers. For beginners eager to immerse themselves in trading, City Index offers a more complete educational package.
| Feature |
City Index
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that City Index is better than Questrade. City Index finished with an overall rank of #8, while Questrade finished with an overall rank of #32.
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
| Feature |
City Index
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Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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While neither City Index nor Questrade allows investors to purchase actual delivered cryptocurrency, both platforms provide the option to trade cryptocurrency derivatives.
When comparing online brokers City Index and Questrade, City Index provides options for ACH/SEPA transfers, PayPal, Visa/Mastercard, and bank wires for account deposits and withdrawals, whereas Questrade supports Visa/Mastercard and bank wires but does not offer ACH/SEPA transfers, PayPal, or Skrill.
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 | City Index | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | City Index Review | Questrade Review |
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| Regulation | City Index | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1983 | 2000 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | City Index | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | City Index | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 641 | |
| Forex Pairs (Total) | 66 | 110 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | 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 | City Index | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | N/A | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | City Index | Questrade | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | City Index | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | City Index | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 52 | |
| Charting - Indicators / Studies (Total) | 88 | 64 | |
| Charting - Drawing Tools (Total) | 239 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | 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 | 88 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | City Index | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | City Index | 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 | City Index Review | Questrade Review |
| Overall | City Index | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | City Index Review | Questrade Review |
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