Written by ForexBrokers.com
In this head to head comparison of Questrade vs Eightcap, 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 Eightcap are both online brokers that offer trading services but differ in regulatory standing and trust ratings. Founded in 2000, Questrade is a privately owned firm that is not listed on any stock exchange and does not operate as a bank. It holds two Tier-1 licenses, making it a trusted choice for traders, and has earned a Trust Score of 86 from ForexBrokers.com, placing it in the "trusted" category.
Meanwhile, Eightcap, established in 2009, also operates as a private entity without the backing of a stock listing or bank affiliation. Eightcap surpasses Questrade in regulatory credentials with three Tier-1 licenses, indicating a high level of trust. However, its Trust Score from ForexBrokers.com is slightly lower at 85, which still categorizes it as a trusted broker. While both brokers are reliable, Eightcap holds an edge in regulatory licensure, whereas Questrade has a marginally higher trust score according to ForexBrokers.com.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Year Founded | 2000 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees of online broker Questrade to Eightcap, there are notable differences. Questrade has a target spread of 1.9 pips on the popular EUR/USD currency pair, which is steep by industry standards. This translates to potentially higher costs for traders focusing on forex. With a 3-star rating and a ranking of 57th out of 62 brokers in the Commissions and Fees category, Questrade is less competitive in pricing compared to many peers.
In contrast, Eightcap offers greater flexibility with its two account types: the commission-based Raw account and the spread-only Standard account. For those opting for the Raw account, Eightcap lists a tight average spread of 0.06 pips. Once the per-side commission of $3.50 per trade is added, the total cost comes to approximately 0.76 pips, making it slightly cheaper than the industry average of 0.8 pips. Although Eightcap is not the most economical choice available, it is relatively more affordable than many. This pricing structure contributes to Eightcap’s 4-star rating and its higher rank of 26th out of 62 brokers for Commissions and Fees.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $250 | $100 |
| Average Spread EUR/USD - Standard | N/A | 1.0 |
| All-in Cost EUR/USD - Active | N/A | 0.76 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| 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 Questrade and Eightcap, both brokers provide a solid range of investment options tailored to different trading needs. Questrade allows investors access to forex trading both as a CFD and a spot contract, similar to Eightcap. However, Questrade shines with 641 tradeable symbols compared to Eightcap’s 736, yet it compensates by offering a broader range of 110 forex pairs, unlike Eightcap’s 56 pairs. Moreover, Questrade enables clients to buy actual exchange-traded securities on both U.S. and international exchanges, giving investors opportunities to invest directly in companies like Apple or Vodafone. In contrast, Eightcap doesn’t offer this feature, limiting investors to trading solely through CFDs.
In terms of cryptocurrency offerings, both brokers provide access to cryptocurrency derivatives, though neither allows purchasing actual digital coins. Another key distinction is copy trading, which Eightcap supports while Questrade does not. This comprehensive mix of offerings positions Questrade as highly rated for its range of investments, boasting a 5-star rating and an impressive 11th rank out of 62 brokers in this category. Conversely, Eightcap holds a 3.5-star rating and is ranked 40th, highlighting its limited range compared to Questrade’s rich investment options.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 736 |
| 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 | 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 Eightcap as online broker platforms, both offer simulated or paper trading through free virtual demo accounts, ensuring beginners can practice without risk. Questrade is unique with its proprietary platform developed in-house, whereas Eightcap relies on established platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular among traders for their robust functionalities. Both brokers provide a Windows-based desktop platform and a web-based trading platform for accessibility and convenience. For those interested in copy trading, Eightcap offers this feature, whereas Questrade does not. However, Questrade supports DupliTrade, adding another dimension to its trading tools.
Charting tools are a significant consideration for many traders, and Questrade offers 20 drawing tools compared to Eightcap's 15, although the exact number of technical indicators for each platform is not specified. Both allow trading directly from charts, streamlining the process for users who prefer visual data. While Questrade boasts an extensive range of 52 columns for watch lists, Eightcap provides a more straightforward selection with 7. Both platforms earn a 4-star rating for their trading platforms and tools and have comparable rankings by ForexBrokers.com, with Questrade slightly ahead at #34 out of 62 brokers and Eightcap close behind at #38. This makes each a competitive choice, with distinct strengths suited to different trading preferences.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| 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 | 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.
Both Questrade and Eightcap offer mobile trading apps for iPhone and Android, making it easy for users to stay connected on the go. Both apps support essential trading features such as stock and forex price alerts and the ability to draw trendlines and view multiple time frames on charts. Users can create watchlists with real-time quotes, which sync with their online accounts, ensuring that any changes made are automatically updated across all platforms. Furthermore, both apps auto-save chart drawings, providing a seamless trading experience.
When it comes to charting capabilities, Questrade takes a lead by offering 64 technical studies compared to Eightcap's 30, which may be an important factor for those who rely heavily on technical analysis. Despite this difference, both apps are consistently rated 4 stars out of 5 for mobile trading, showing they both deliver solid performance and satisfaction for users. According to ForexBrokers.com, Questrade ranks #34 while Eightcap ranks #38 out of 62 brokers for mobile trading apps, indicating a slight edge for Questrade in overall app ranking. Whether your preference leans towards advanced technical studies or an easy-to-use interface, both brokers offer competitive mobile solutions for traders.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| 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 market research offerings between Questrade and Eightcap, there are some key differences to note. Eightcap provides daily market commentary, a feature absent in Questrade's service. However, both brokers do not supply forex news from top-tier sources such as Bloomberg or Reuters. On the technical analysis front, Questrade offers tools from Autochartist and Trading Central, enhancing their analytical capabilities, while Eightcap does not provide these options. In contrast, Eightcap stands out by offering a sentiment-based trading tool that gives insights into the ratio of long or short positions in currency pairs, a tool not available through Questrade. Both platforms do provide an economic calendar to keep users informed about global news events.
For additional research resources, Questrade features market research from TipRanks, which is not available at Eightcap. Neither broker offers tools from Acuity Trading like Signal Centre. Despite these distinctions, both have an equal research rating of 3.5 stars out of five. In the wider context of broker rankings, Questrade is placed at #51 while Eightcap ranks at #39 in the Research category by ForexBrokers.com, indicating a slight preference for Eightcap regarding research offerings overall.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | No | No |
| Autochartist | Yes | No |
| 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.
Both Questrade and Eightcap provide educational resources focused on forex and CFDs, with each offering over ten materials such as articles, videos, and archived webinars. While neither platform conducts monthly online educational webinars, they both ensure that users have access to a searchable archive of past client webinars, which can be a valuable resource for learning at your own pace. In terms of beginner-friendly content, both brokers excel by offering more than ten educational videos tailored for newcomers, helping them understand trading basics.
However, when it comes to advanced educational videos designed for experienced traders, both Questrade and Eightcap fall short, offering less than ten. Additionally, those seeking a comprehensive investor dictionary will find Eightcap more accommodating as it provides definitions for over 50 investing terms, unlike Questrade. Despite these differences, both brokers receive the same rating of 3.5 stars for education, with Questrade ranked slightly higher at 36th compared to Eightcap's 40th place among 62 brokers by ForexBrokers.com.
| Feature |
Questrade
|
Eightcap
|
|---|---|---|
| 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 | 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 Eightcap. Questrade finished with an overall rank of #32, while Eightcap finished with an overall rank of #38.
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
|
Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 85 |
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Both Questrade and Eightcap do not offer the ability to buy actual delivered cryptocurrency, but they do provide the option to buy cryptocurrency derivatives.
When comparing Questrade and Eightcap as online brokers, both offer Visa, Mastercard, and bank wire options for depositing or withdrawing funds, but Eightcap stands out by also supporting PayPal and Skrill while neither broker provides ACH or SEPA transfers.
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 | Eightcap | |
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| Trust Score | 86 | 85 | |
| Winner | check_circle | ||
| Review | Questrade Review | Eightcap Review |
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| Regulation | Questrade | Eightcap | |
|---|---|---|---|
| Trust Score | 86 | 85 | |
| Year Founded | 2000 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Questrade | Eightcap | |
|---|---|---|---|
| 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 | Yes |
| Tier-2 Licenses (Trusted) | Questrade | Eightcap | |
|---|---|---|---|
| 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 | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 736 | |
| 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 | 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 | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.0 | |
| All-in Cost EUR/USD - Active | N/A | 0.76 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $250 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| 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 | Eightcap | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | Eightcap | |
|---|---|---|---|
| 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 | Eightcap | |
|---|---|---|---|
| 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 | 64 | 30 | |
| 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 | Questrade | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | No | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | Eightcap | |
|---|---|---|---|
| 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 | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Questrade | Eightcap | |
|---|---|---|---|
| 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 | Eightcap Review |
| Overall | Questrade | Eightcap | |
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| Trust Score | 86 | 85 | |
| Winner | check_circle | ||
| Review | Questrade Review | Eightcap Review |
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