Written by ForexBrokers.com
In this head to head comparison of FOREX.com 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.
FOREX.com and Questrade are prominent online brokers with differing levels of trust based on their regulatory standings. FOREX.com, established in 1999, is a publicly traded company and holds an impressive 99 Trust Score from ForexBrokers.com, signaling it as highly trusted. It boasts 7 Tier-1 licenses, which are regarded as the most trustworthy. On the other hand, Questrade, founded in 2000 and privately held, has a Trust Score of 86, categorizing it as trusted but at a lower tier than FOREX.com. Questrade holds 2 Tier-1 licenses but lacks any Tier-2 accreditations, which FOREX.com has one of.
While neither FOREX.com nor Questrade operates as a bank, their different licensing profiles highlight varying levels of regulatory confidence. FOREX.com's status as a publicly traded entity potentially adds another layer of scrutiny and transparency, not mirrored in Questrade given its private standing. The disparity in their Trust Scores and licenses reflects the differences in how each company complies with international standards designed to protect investors and ensure honest trading practices.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Year Founded | 1999 | 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 |
When comparing the commissions and fees structure of FOREX.com and Questrade, it's evident that FOREX.com tends to offer more competitive pricing, especially for high-volume traders. FOREX.com offers different account types, including the Raw account that features spreads on the EUR/USD averaging 0.13 pips, though it does involve a commission. For their Standard account, spreads are typically higher at 1.4 pips in the U.S., making it less appealing for cost-conscious traders. However, active traders can benefit from volume-based rebates with commissions starting at $7 per Standard lot, potentially lowering the overall cost. FOREX.com is ranked #13 out of 62 brokers by ForexBrokers.com for commissions and fees and carries a 4.5-star rating in this category.
On the other hand, Questrade’s cost structure is generally steeper. It features a target spread of 1.9 pips on the EUR/USD, which is comparatively high. While it might be suitable for those who appreciate other features Questrade offers, it lacks the low-cost appeal in the trading space. As per ForexBrokers.com, Questrade ranks at #57 out of 62 brokers for their commissions and fees, reflecting its higher cost base. Questrade holds a 3-star rating in this category, which indicates room for improvement particularly in offering competitive spreads.
Overall, for traders who prioritize lower trading costs and competitive spreads, FOREX.com emerges as the more attractive option, particularly if trading large volumes where rebates and lower commission structures can lead to significant savings. Meanwhile, Questrade might be better suited for those who value its other features over cost-efficiency in currency trading. However, it's important to weigh these factors based on individual trading needs and strategies.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Minimum Deposit | $100 | $250 |
| Average Spread EUR/USD - Standard | 1.4 | N/A |
| All-in Cost EUR/USD - Active | 0.9 | 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.
FOREX.com and Questrade stand as popular choices for online trading, offering varied investment opportunities tailored to different needs. FOREX.com boasts a large number of tradeable symbols, totaling 5,500, and supports forex trading through both CFD and spot contracts. It provides access to 91 forex pairs and offers cryptocurrency trading in derivative form, but lacks the capability to trade actual exchange-traded securities on U.S. or international exchanges. It doesn't support copy trading either. Despite these constraints, FOREX.com is highly ranked for its wide range of investments, earning a 5-star rating and securing the 7th spot among 62 brokers in the Range of Investments category by ForexBrokers.com.
On the other hand, Questrade provides a more diversified portfolio for investors looking to trade on various exchanges. With 641 tradeable symbols, Questrade supports both CFD and spot forex trading with access to 110 forex pairs, offering one of the broadest selections in this regard. Investors can also trade exchange-traded securities on both U.S. and international exchanges, allowing them to directly purchase shares like Apple and Vodafone. While Questrade doesn't offer copy trading or the purchase of actual cryptocurrencies, it does provide cryptocurrency derivatives. Rated at 5 stars for its range of investments, Questrade is ranked 11th out of 62 brokers, demonstrating its competitive standing in the industry.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 641 |
| Forex Pairs (Total) | 91 | 110 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | No | 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 the trading platforms and tools of FOREX.com and Questrade, there are several distinctions to consider. Both brokers provide simulated trading with free virtual demo accounts, allowing newcomers and experienced traders alike to practice without risk. Each also boasts its proprietary platform and supports Windows-based desktop and web-based trading, ensuring accessibility across devices. FOREX.com stands out by additionally offering the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are not available with Questrade. On the other hand, Questrade uniquely supports DupliTrade, providing options for traders interested in that particular feature.
Looking closely at charting capabilities, FOREX.com leads with an impressive 239 drawing tools compared to Questrade's 20, though both platforms permit trading directly from a stock chart. For watch lists, Questrade provides more customization with 52 columns, compared to FOREX.com's 20. FOREX.com has earned a prestigious 5-star rating for its trading platforms and tools, ranking #7 out of 62 brokers by ForexBrokers.com, reflecting its comprehensive offerings and superior user experience. Meanwhile, Questrade, with a 4-star rating, is ranked #34, indicating solid performance yet trailing behind FOREX.com in overall platform features.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | 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 | 20 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FOREX.com and Questrade, both brokers provide comprehensive iPhone and Android applications that facilitate modern trading experiences. They allow traders to receive stock and forex price alerts, ensuring you're always informed of market movements. Both apps support watchlist syncing, so users can easily access their curated lists across devices. However, when it comes to technical charting, FOREX.com offers 88 different technical studies, surpassing Questrade's 64 studies. Both apps allow traders to draw trendlines, view multiple time frames, and auto-save chart drawings for convenience.
FOREX.com’s app provides a notable edge in app quality, earning a 5-star rating, compared to Questrade's 4-star rating. This distinction is echoed in their rankings, with FOREX.com securing the third spot out of 62 brokers reviewed by ForexBrokers.com for mobile trading apps, while Questrade is ranked 34th. Both platforms support real-time quote watchlists, ensuring traders have the vital information needed to make informed decisions. Ultimately, while both brokers offer solid mobile trading platforms, FOREX.com appears to deliver a slightly more advanced and highly-rated mobile trading experience.
| Feature |
FOREX.com
|
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 comparing the market research features offered by FOREX.com and Questrade, several key differences emerge. FOREX.com provides daily market commentary and offers forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. Additionally, FOREX.com includes a sentiment-based trading tool and economic calendar for global news events. Although it does not offer research tools from Autochartist, FOREX.com does provide tools from Trading Central, giving its clients an advantage in acquiring essential insights for trading. Questrade, on the other hand, lacks daily market commentary and top-tier forex news but compensates with the availability of Autochartist tools and TipRanks market research.
In terms of ratings, FOREX.com receives a higher score for research, with 4.5 out of 5 stars, and is ranked 9th out of 62 brokers by ForexBrokers.com for its research capabilities. This is significantly higher compared to Questrade, which holds a 3.5-star rating and is ranked 51st. Both platforms offer Trading Central analysis tools and share an economic calendar feature. However, the breadth and depth of market research resources provided by FOREX.com make it a more favorable choice for traders seeking comprehensive market analysis.
| Feature |
FOREX.com
|
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.
For beginners exploring the world of forex and CFDs education, both FOREX.com and Questrade provide foundational resources tailored to help newcomers. FOREX.com positively stands out by offering over 10 educational articles, videos, and webinars dedicated to these topics. It also hosts monthly online webinars and offers a comprehensive archive of previously recorded sessions, which can be searched for ease of access. In contrast, while Questrade matches FOREX.com in providing a substantial number of educational materials focused on trading for beginners, it does not regularly offer monthly webinars for its clients. Both platforms maintain searchable archives of past webinars, which is beneficial for learners revisiting key lessons.
Regarding advanced educational content, FOREX.com rises to the occasion with more than 10 detailed videos designed for experienced traders. Meanwhile, Questrade lacks a similar depth in advanced trading resources. FOREX.com further boosts its educational credentials with an investor dictionary encompassing over 50 investing terms, a feature Questrade does not provide. When it comes to ratings, FOREX.com garners a 4.5-star rating and ranks fourth among 62 brokers for its educational offerings, whereas Questrade receives a 3.5-star rating and ranks at 36th, indicating a noticeable difference in the breadth and depth of educational support for traders on these platforms.
| Feature |
FOREX.com
|
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 FOREX.com is better than Questrade. FOREX.com finished with an overall rank of #5, while Questrade finished with an overall rank of #32.
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
| Feature |
FOREX.com
|
Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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Both FOREX.com and Questrade do not allow the purchase of actual (delivered) cryptocurrency but do provide the option to buy cryptocurrency derivatives.
When comparing online brokers FOREX.com and Questrade in terms of deposit and withdrawal options, FOREX.com provides more flexibility with ACH, SEPA, PayPal, and credit/debit card options, while both platforms support Visa, Mastercard, and bank wires, yet neither allows transactions via 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 | FOREX.com | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | Questrade Review |
| Broker Screenshots | FOREX.com | Questrade | |
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| Regulation | FOREX.com | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1999 | 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) | FOREX.com | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FOREX.com | 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 | FOREX.com | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 641 | |
| Forex Pairs (Total) | 91 | 110 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | No | 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 | FOREX.com | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | N/A | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | FOREX.com | Questrade | |
|---|---|---|---|
| Minimum Deposit | $100 | $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 | FOREX.com | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | FOREX.com | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 20 | 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 | FOREX.com | 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 | FOREX.com | 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 | FOREX.com | 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 | FOREX.com | 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 | FOREX.com Review | Questrade Review |
| Overall | FOREX.com | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | Questrade Review |
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