Written by ForexBrokers.com
In this head to head comparison of CMC Markets 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.
Catering to the varied needs of online investors, CMC Markets and Questrade offer distinct advantages. Founded in 1989, CMC Markets stands as a veteran in the industry and is publicly traded, enhancing transparency and trust. With a ForexBrokers.com Trust Score of 99, it ranks as a highly trusted broker. This is bolstered by CMC Markets holding five Tier-1 licenses, which are considered the most reliable by industry standards, along with one Tier-2 license. Despite not being a bank, CMC Markets' regulatory standing and public listing make it a compelling choice for investors seeking confidence in their trading platform.
In contrast, Questrade, established in 2000, is a privately operated broker not listed on a stock exchange. Its Trust Score of 86 from ForexBrokers.com categorizes it as a trusted broker, although it holds fewer licenses with two Tier-1 licenses and no Tier-2 licenses. While Questrade does not share the same level of public transparency as CMC Markets, those looking for a reliable broker in the Canadian market may find its offerings align with their needs. Both brokers are not banks, but they serve different investor preferences and risk tolerances through their respective regulatory standings and years of experience.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Year Founded | 1989 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When comparing CMC Markets and Questrade in terms of commissions and fees, it's clear that CMC Markets stands out with its competitive pricing structure. Awarded #1 in the Commissions and Fees category by ForexBrokers.com, CMC Markets delivers consistently low spreads across all account types. The broker offers an average spread of 0.61 pips on EUR/USD, which ranks above the industry average, making it highly attractive to both new and experienced traders. CMC Markets also offers the Price Plus Scheme for active traders, allowing for significant discounts based on trading volumes.
In contrast, Questrade is less competitive in its spread offerings, targeting 1.9 pips on EUR/USD, which is considered steep relative to the industry average. Questrade is ranked much lower at #57 by ForexBrokers.com in the Commissions and Fees category, earning only 3 out of 5 stars—compared to the 5-star rating CMC Markets enjoys. This stark difference in both ranking and user rating highlights CMC Market's clear advantage in delivering better value.
The innovative FX Active pricing by CMC Markets adds another layer of competitiveness. This commission-based pricing, available across several regions and platforms, offers spreads reduced to an all-in cost of 0.5 pips on the EUR/USD pair. Such low-cost trading solutions further solidify CMC Markets' position as a leading choice for traders conscious of fees, especially when contrasted with Questrade's comparatively higher spreads and lower customer ratings.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average Spread EUR/USD - Standard | 0.61 | N/A |
| All-in Cost EUR/USD - Active | 0.51 | 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.
CMC Markets and Questrade both stand out as leading online brokers, offering a solid range of investment options that cater to a wide audience. When it comes to tradeable symbols, CMC Markets offers an impressive 11,925 symbols, significantly outshining Questrade's 641. Both brokers provide access to forex trading via CFDs or spot contracts, but CMC Markets offers a larger selection of 156 forex pairs compared to Questrade's 110. For those interested in stock trading, both platforms allow clients to buy exchange-traded securities on U.S. as well as international exchanges, ensuring access to renowned companies like Apple and Vodafone. While CMC Markets supports copy trading, Questrade does not, which might be a consideration for investors looking for this feature.
In the realm of cryptocurrency, neither broker facilitates the purchase of actual digital currencies. However, both offer the ability to trade cryptocurrency derivatives, providing a way to participate in the crypto market without owning the actual coins. Despite these differences, both firms receive a commendable 5-star rating for their range of investments. However, ForexBrokers.com ranks CMC Markets slightly higher at #9, compared to Questrade at #11, highlighting CMC Markets' slight edge in investment variety. Whether you're a beginner or seasoned investor, both brokers offer extensive options, allowing you to find the right fit for your investment needs.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 641 |
| Forex Pairs (Total) | 156 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | 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 CMC Markets to Questrade for trading platforms and tools, both brokers offer a comprehensive suite of options that cater to different trading needs. CMC Markets stands out with its proprietary platform and also supports popular platforms like MetaTrader 4 and MetaTrader 5, which are not available with Questrade. Both brokers provide Windows-based desktop platforms and web-based trading options, but CMC Markets has the added advantage of enabling copy trading, a feature Questrade lacks. Additionally, CMC Markets allows for trading directly from stock charts and provides a flexible virtual demo account for simulated trading, much like Questrade.
In terms of charting capabilities, CMC Markets offers 40 drawing tools compared to Questrade's 20, although Questrade supports more fields for watch lists with 52 columns versus CMC Markets' 11. Despite these differences, both platforms support trading directly from charts. CMC Markets' focus on enhancing the trader's experience is reflected in its 5-star rating for trading platforms and tools, ranking it 4th among 62 brokers according to ForexBrokers.com, while Questrade, with a 4-star rating, ranks 34th. This assessment highlights CMC Markets as a more favored choice for traders who value advanced trading tools and platform variety.
| Feature |
CMC Markets
|
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) | Yes | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 79 | 64 |
| Charting - Drawing Tools (Total) | 40 | 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 apps, both CMC Markets and Questrade offer comprehensive solutions for traders on the go. Both platforms provide iPhone and Android apps, ensuring broad accessibility for users. They each support stock and forex price alerts, allowing traders to stay updated on market movements. Users can sync watchlist symbols across devices, meaning changes made either online or within the app are seamlessly updated. Additionally, both apps enable users to draw trendlines and view charts across various time frames such as daily, weekly, or intraday, with automatic saving of any drawings made.
While both CMC Markets and Questrade allow users to create watchlists with real-time quotes, there are notable differences in their charting capabilities. CMC Markets offers 29 technical studies within their app, compared to Questrade's 64. Despite Questrade's more extensive selection of technical studies, CMC Markets is rated higher for its mobile trading app with a perfect 5-star rating, compared to Questrade's 4 stars. Furthermore, CMC Markets is ranked #5 out of 62 brokers by ForexBrokers.com, significantly higher than Questrade, which is positioned at #34. This ranking difference may influence traders who prioritize overall app quality and performance.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 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 comparing CMC Markets and Questrade for market research capabilities, CMC Markets stands out with its comprehensive offerings. This online broker provides daily market commentary, giving traders timely insights into market movements. CMC Markets also shares forex news from reputable sources like Bloomberg and Reuters, enhancing decision-making with trusted information. Additionally, traders have access to technical and fundamental analysis tools from Autochartist, and a unique sentiment-based trading tool that reveals the balance of long or short positions across currency pairs. Furthermore, CMC Markets supplies an economic calendar to keep users informed of crucial global events. According to ForexBrokers.com, these features have earned CMC Markets a 5-star rating in research and the #6 spot among 62 brokers.
On the other hand, Questrade offers a different mix of research tools. While it lacks daily market commentary and premium forex news sources found with CMC Markets, Questrade compensates with technical analysis from Trading Central and company TipRanks. Similar to CMC Markets, Questrade also provides technical tools by Autochartist and maintains an economic calendar for users. Despite these offerings, Questrade’s research capabilities are rated at 3.5 stars and the platform is ranked #51 by ForexBrokers.com, suggesting there is room for improvement compared to CMC Markets. Choosing between the two will depend on which specific tools and insights are a priority for individual traders.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | 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 available to beginners from CMC Markets and Questrade, both brokers provide a solid foundation for learning with at least 10 educational pieces focused on forex or CFDs. Each platform also offers a searchable archive of past client webinars, giving beginner traders access to a wealth of recorded knowledge. CMC Markets and Questrade both meet the needs of beginners by offering more than 10 videos specifically designed to guide new traders through fundamental concepts. However, CMC Markets surpasses Questrade by extending its video offerings to more advanced trading topics. CMC Markets also equips users with an investor dictionary containing over 50 investing terms, a feature that Questrade does not match.
These distinctions in educational resources are reflected in their ratings and rankings. CMC Markets receives a strong 5-star rating for education, while Questrade trails with a 3.5-star rating. Furthermore, CMC Markets is ranked #10 out of 62 brokers in the Education category by ForexBrokers.com, a significant leap ahead of Questrade, which holds the #36 spot. This comparison highlights CMC Markets as a more comprehensive choice for beginners seeking a deeper dive into both entry-level and advanced trading education.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | 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 CMC Markets is better than Questrade. CMC Markets finished with an overall rank of #4, while Questrade finished with an overall rank of #32.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
Questrade
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 86 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both CMC Markets and Questrade do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
CMC Markets stands out in the online brokerage space by offering diverse funding options such as ACH or SEPA transfers, PayPal, Visa, Mastercard, and bank wires, while Questrade, though similar in providing Visa, Mastercard, and bank wires, falls short by not supporting ACH, SEPA, PayPal, or Skrill 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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | CMC Markets | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | Questrade Review |
| Broker Screenshots | CMC Markets | Questrade | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | CMC Markets | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1989 | 2000 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | 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) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | CMC Markets | 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 | CMC Markets | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 641 | |
| Forex Pairs (Total) | 156 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | CMC Markets | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.61 | N/A | |
| All-in Cost EUR/USD - Active | 0.51 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | CMC Markets | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | CMC Markets | 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) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | CMC Markets | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 52 | |
| Charting - Indicators / Studies (Total) | 79 | 64 | |
| Charting - Drawing Tools (Total) | 40 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | 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 | 29 | 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 | CMC Markets | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | 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 | CMC Markets | 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 | CMC Markets Review | Questrade Review |
| Overall | CMC Markets | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | Questrade Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill