Written by ForexBrokers.com
In this head to head comparison of FinecoBank 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.
FinecoBank, established in 1999, is a publicly traded bank that boasts high trust credentials with a Trust Score of 94 according to ForexBrokers.com. This rating places FinecoBank in the highly trusted category, thanks in part to its two Tier-1 licenses. In contrast, Questrade, founded in 2000, is a non-publicly traded brokerage with a Trust Score of 86, positioning it in the trusted category. Like FinecoBank, Questrade holds two Tier-1 licenses, but neither holds any Tier-2 licenses. The regulatory strength of both brokers ensures a reliable trading experience, although FinecoBank's status as a bank and its higher Trust Score may offer additional peace of mind for investors.
| Feature |
FinecoBank
|
Questrade
|
|---|---|---|
| Year Founded | 1999 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
FinecoBank and Questrade are two online brokers that offer various trading services, but they differ significantly in terms of their commissions and fees. FinecoBank does not provide average spread data for forex and CFD trading, making it challenging to evaluate its full trading costs. However, the broker lists a spread of 1 pip for EUR/USD, which is higher than what many forex brokers typically offer. There is also a mention of a 0.8 pip spread, but without an average value or date range, it remains vague. It's worth noting that Fineco may offer lower spreads on its index CFDs.
In comparison, Questrade has a target spread of 1.9 pips for EUR/USD, which is considered high compared to the industry average. This higher target could lead to increased trading costs for investors who frequently trade this currency pair. Therefore, traders might want to consider these cost factors when choosing between these two brokers.
FinecoBank has been rated 3.5 stars out of five for its commissions and fees, securing the 50th rank out of 62 brokers on ForexBrokers.com. Questrade, on the other hand, receives a 3-star rating and ranks 57th in the same category. These ratings and rankings highlight FinecoBank's slightly more favorable position compared to Questrade, though neither broker stands out in the industry for low commissions and fees.
| Feature |
FinecoBank
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| 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 | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FinecoBank and Questrade both support forex trading as CFDs or spot contracts, but they differ significantly in the number of tradeable symbols they offer. FinecoBank provides access to an extensive range of 9,770 symbols, while Questrade offers 641. When it comes to forex pairs, Questrade takes the lead with 110 tradeable pairs compared to FinecoBank's 54. Both platforms allow trading in exchange-traded securities on U.S. exchanges, such as Apple shares, as well as international exchanges like the London Stock Exchange for Vodafone shares. However, neither broker supports copy trading. In terms of cryptocurrency, neither FinecoBank nor Questrade offers the ability to buy actual cryptocurrencies; though, Questrade does allow trading in cryptocurrency derivatives, unlike FinecoBank.
Despite some differences in their offerings, both brokers are highly rated for their range of investments, with FinecoBank earning 4.5 stars out of five and Questrade receiving a full five stars. According to ForexBrokers.com, FinecoBank ranks 16th among 62 brokers for its range of investments, trailing Questrade, which holds the 11th spot. While FinecoBank boasts a broader selection of tradeable symbols, Questrade's higher star rating and ranking suggest a more comprehensive portfolio overall, particularly aided by its offering of cryptocurrency derivatives and a higher number of forex pairs. Both platforms present strong options for investors seeking diverse investment opportunities across multiple asset classes.
| Feature |
FinecoBank
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 641 |
| Forex Pairs (Total) | 54 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | No | 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 the trading platforms and tools of FinecoBank and Questrade, both brokers present proprietary platforms developed in-house, offering Windows-based desktop versions and web-based options accessible via browser. However, Questrade takes the lead in providing a free virtual demo account, a valuable feature for those looking to practice trades without any financial risk – a facility not available with FinecoBank. Additionally, Questrade stands out by allowing direct trading from stock charts and supports 20 drawing tools for charting, compared to FinecoBank’s 7 tools, offering a broader range for technical analysis.
Neither FinecoBank nor Questrade supports popular trading platforms like MetaTrader 4 or 5, and both lack copy trading capabilities. Moreover, while FinecoBank does not offer DupliTrade services, Questrade does, adding another layer of functionality for users seeking diversified trading tools. Despite these differences, both brokers receive a similar four-star rating for their trading platforms and tools. While FinecoBank ranks higher at #18 by ForexBrokers.com compared to Questrade’s #34, the preference ultimately depends on the specific needs, whether simulated training is more valuable or enhanced charting features take precedence for the user.
| Feature |
FinecoBank
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | 64 |
| Charting - Drawing Tools (Total) | 7 | 20 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FinecoBank and Questrade offer trading apps compatible with iPhone and Android devices, providing users with the flexibility to trade stocks and forex on-the-go. Both apps offer price alerts, which helps you stay updated on market movements no matter where you are. However, Questrade's app stands out by allowing watchlist symbol syncing between the mobile app and the online account, a feature that FinecoBank does not offer. This means that any changes you make to your watchlist on Questrade's app will seamlessly sync to your online account, providing a streamlined user experience.
When it comes to technical analysis tools, Questrade offers a more comprehensive selection with 64 technical studies, compared to FinecoBank's 6. Additionally, Questrade's app lets traders draw trendlines on charts and auto-saves these drawings for future reference, which FinecoBank lacks. Both apps support viewing multiple time frames, but Questrade has the edge with its ability to create a watchlist with real-time quotes. Despite these differences, both apps are rated 4 out of 5 stars for their mobile trading capabilities. According to ForexBrokers.com, Questrade is ranked slightly higher at #34 compared to FinecoBank’s #42, reflecting a more favorable reception of Questrade's mobile trading app features among users.
| Feature |
FinecoBank
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 6 | 64 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing FinecoBank and Questrade for market research, FinecoBank stands out by offering forex news from top-tier sources like Bloomberg and Reuters, a resource not provided by Questrade. Both platforms lack daily market commentary, and neither offers sentiment-based trading tools. FinecoBank and Questrade both provide an economic calendar, allowing traders to track global news events and make informed decisions.
However, when it comes to specialized tools, Questrade surpasses FinecoBank by offering access to technical analysis tools from Autochartist and Trading Central, as well as market research from TipRanks. This sets Questrade apart for traders interested in deeper technical analysis. Despite this, FinecoBank receives a slightly higher research rating of 4 stars compared to Questrade's 3.5 stars, and it ranks higher for research among brokers, placing 33rd to Questrade's 51st according to ForexBrokers.com.
| Feature |
FinecoBank
|
Questrade
|
|---|---|---|
| Daily Market Commentary | No | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing FinecoBank and Questrade in terms of educational resources for beginners, both online brokers offer unique advantages. FinecoBank stands out for its abundant beginner education, providing video content tailored specifically for newcomers to trading. They also host online educational webinars regularly, which can significantly benefit those who learn best through live interaction. In addition, FinecoBank's investor dictionary, offering over 50 investing terms, acts as a valuable tool for new investors needing a quick reference. However, FinecoBank lacks in the forex and CFDs education domain, with fewer resources dedicated to these areas.
Questrade, conversely, excels in providing a diverse array of educational content related to forex and CFDs, ensuring learners have access to over 10 pieces dedicated to these trading fields. While it doesn’t offer live educational webinars monthly, Questrade makes up for it with a comprehensive archive of recorded webinars, allowing clients to learn at their own pace. Both platforms provide a selection of beginner-focused educational videos, but neither broker offers advanced videos for seasoned traders. Despite these offerings, FinecoBank edges out slightly with a higher education rating, while Questrade has a stronger position in the overall education ranking by ForexBrokers.com.
| Feature |
FinecoBank
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | 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 FinecoBank is better than Questrade. FinecoBank finished with an overall rank of #25, while Questrade finished with an overall rank of #32.
FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.
| Feature |
FinecoBank
|
Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 86 |
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FinecoBank does not offer the ability to buy actual delivered cryptocurrency or cryptocurrency derivatives, whereas Questrade also does not provide the option to purchase actual delivered cryptocurrency but does offer access to cryptocurrency derivatives.
FinecoBank supports ACH or SEPA transfers and bank wires for depositing or withdrawing funds, while Questrade offers bank wires and Visa or Mastercard options but does not support ACH, SEPA, PayPal, or Skrill for 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.
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0 of 5| Overall Rating | FinecoBank | Questrade | |
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| Trust Score | 94 | 86 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | Questrade Review |
| Broker Screenshots | FinecoBank | Questrade | |
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| Regulation | FinecoBank | Questrade | |
|---|---|---|---|
| Trust Score | 94 | 86 | |
| Year Founded | 1999 | 2000 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | Yes | |
| 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) | 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) | FinecoBank | Questrade | |
|---|---|---|---|
| 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 | FinecoBank | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 641 | |
| Forex Pairs (Total) | 54 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | No | 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 | FinecoBank | Questrade | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | No | No |
| Funding | FinecoBank | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FinecoBank | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | N/A | 52 | |
| Charting - Indicators / Studies (Total) | 37 | 64 | |
| Charting - Drawing Tools (Total) | 7 | 20 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FinecoBank | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 6 | 64 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FinecoBank | Questrade | |
|---|---|---|---|
| Daily Market Commentary | No | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FinecoBank | 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 | FinecoBank Review | Questrade Review |
| Overall | FinecoBank | Questrade | |
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| Trust Score | 94 | 86 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | Questrade Review |
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