Written by ForexBrokers.com
In this head to head comparison of FxPro 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.
Founded in 2006, FxPro is a noteworthy online broker that has built a reputation for being highly trusted, as evidenced by its ForexBrokers.com Trust Score of 90. The company holds two Tier-1 licenses, which signify a high level of trust, and an additional Tier-2 license solidifying its standing in the market. While not a publicly traded entity or a bank, FxPro's framework ensures both reliability and security for its clients.
Questrade, established in 2000, is another trusted player in the online brokerage space, with a trust score of 86, placing it within the trusted range according to ForexBrokers.com. Like FxPro, Questrade holds two Tier-1 licenses which underline its credibility, although it lacks any Tier-2 licenses. It operates privately and is not affiliated with any banking institutions. Together, these details highlight the dependability of Questrade as a broker, with slightly fewer regulatory credentials than FxPro.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Year Founded | 2006 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
When comparing the online brokers FxPro and Questrade in terms of commissions and fees, significant differences emerge. FxPro offers various pricing structures, including variable and fixed spreads within its MT4 platform. For those using the cTrader platform, FxPro provides competitive commission-based pricing, especially for trading popular currency pairs like EUR/USD. The typical effective spread on FxPro's cTrader platform for this pair is approximately 1.27 pips, which factors in an average spread of 0.37 pips along with a 0.9 pip commission. Despite these options, FxPro's pricing is generally higher than the industry average, presenting a disadvantage compared to platforms like Pepperstone and IC Markets.
Questrade, on the other hand, offers a target spread of 1.9 pips for the EUR/USD pair, which is considered steep when juxtaposed against the industry norm. This higher cost could impact trading profits over time, especially for frequent traders. In terms of broker ratings, FxPro is rated 4 stars for its commissions and fees, ranking 32nd out of 62 brokers reviewed by ForexBrokers.com. Conversely, Questrade holds a lower rating of 3 stars and ranks 57th on the same list, indicating a less favorable positioning regarding costs related to trading.
FxPro aims to cater to active traders through its Active Trader program, offering discounts of up to 30% in its Elite account, although this still falls short relative to the offerings by competitors such as FOREX.com and IG. These nuances in pricing and benefits highlight the importance of closely examining each broker's fee structures and potential savings for active traders, helping to make a more informed decision based on individual trading needs.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Minimum Deposit | $100 | $250 |
| Average Spread EUR/USD - Standard | 1.51 | N/A |
| All-in Cost EUR/USD - Active | 1.27 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When evaluating the range of investments offered by FxPro and Questrade, there are notable differences that could influence an investor's choice. FxPro offers an extensive selection with 2,249 tradeable symbols, including 70 forex pairs, allowing for a diverse trading experience. While FxPro enables users to engage in forex trading via CFDs or spot contracts, it doesn't provide access to U.S. exchange-traded securities, limiting direct investments in major stocks like Apple. However, it compensates with available international securities and the capability to trade cryptocurrency derivatives, though actual cryptocurrencies are not accessible.
Comparatively, Questrade presents a more expansive opportunity for directly investing in both U.S. and international exchange-traded securities, such as direct access to buying shares of global companies like Apple and Vodafone. Though it offers fewer overall tradeable symbols, totaling 641, it surpasses FxPro in forex pair offerings with 110 options. Also supporting CFD trading in forex and cryptocurrency derivatives, Questrade does not provide avenues for purchasing actual cryptocurrencies or support for copy trading. With a 5-star rating for its range of investments, Questrade stands out, ranking #11 out of 62 brokers according to ForexBrokers.com, while FxPro is rated 4 stars, ranking it at #28.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 2249 | 641 |
| Forex Pairs (Total) | 70 | 110 |
| U.S. Stock Trading (Non CFD) | No | 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.
FxPro and Questrade both offer platforms tailored to meet diverse trading needs. Each broker provides a simulated trading environment, with accessible demo accounts that allow users to hone their skills without real-world risk. Both have developed proprietary platforms which offer web-based and Windows desktop versions for flexibility. While FxPro gives traders the ability to engage in copy trading and capitalize on MetaTrader 4 and MetaTrader 5's features, Questrade sticks to offering DupliTrade for a different trading strategy. Despite lacking support for MetaTrader platforms, Questrade's broad selection of 52 watch list fields significantly surpasses FxPro's six, potentially offering more detailed insights for traders.
Charting features are comprehensive on both platforms. FxPro boasts 25 drawing tools compared to Questrade's 20, allowing for detailed technical analysis. Both platforms facilitate direct trading from stock charts, enhancing trade execution speed. In terms of overall evaluation, FxPro edges ahead, ranked 19th out of 62 brokers by ForexBrokers.com, whereas Questrade holds the 34th position. However, when it comes to user ratings for trading platforms and tools, both are equally matched with a four-star rating, highlighting their capabilities and appeal to traders.
| Feature |
FxPro
|
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) | 53 | 64 |
| Charting - Drawing Tools (Total) | 25 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FxPro and Questrade both provide efficient trading experiences on mobile devices, offering apps for iPhone and Android. These apps include essential features like stock and forex price alerts and watchlist symbol syncing, ensuring users can keep track of their investments on the go. Both platforms also support drawing trendlines on charts and automatically saving your work, which is beneficial for those who frequently use these tools. When it comes to viewing stock or forex charts, FxPro and Questrade offer the ability to switch between various time frames, such as daily, weekly, or intraday, which allows for greater flexibility in analysis.
Digging into the charting capabilities, FxPro offers 65 technical studies compared to Questrade's 64, making both brokers well-equipped for detailed analysis. Users can also create watchlists with real-time quotes on either app. In terms of user satisfaction, FxPro edges out Questrade with a 4.5-star rating for its mobile trading app, while Questrade earns a respectable 4-star rating. According to ForexBrokers.com, FxPro's mobile app ranks 15th out of 62 brokers, while Questrade's comes in at 34th. This makes FxPro a slightly more appealing choice for those prioritizing mobile access and functionality in their trading activities.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 65 | 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 market research offerings, FxPro stands out by providing users with daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, services that Questrade lacks. Both platforms offer technical analysis tools from Trading Central, but Questrade uniquely features tools from Autochartist. However, FxPro gains an edge with its sentiment-based trading tool and a thorough economic calendar to keep traders informed of global events, elements that are absent from Questrade's suite. Moreover, FxPro is rated higher for research, earning four stars compared to Questrade's 3.5 stars.
Despite both having their strengths, FxPro's comprehensive research tools are reflected in its higher ranking in the research category by ForexBrokers.com, coming in at #27 out of 62 brokers, whereas Questrade is positioned at #51. While Questrade offers market research tools from TipRanks, traders may find FxPro's offerings more aligned with needs for forex news and sentiment analysis. Ultimately, the choice between these two brokers could lie in the specific needs for research tools and market commentary at one's fingertips.
| Feature |
FxPro
|
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 seeking educational resources in forex and CFDs, both FxPro and Questrade offer a substantial amount of learning materials. Each platform provides over 10 articles, videos, or archived webinars dedicated to forex and CFDs, making them reliable choices for those new to trading. Although neither broker offers monthly online educational webinars, both include a searchable archive of past webinars for continued learning at one's convenience. Moreover, each outshines in offering more than 10 beginner-friendly educational videos focusing on essential trading topics, designed to help newcomers grasp the fundamentals.
When it comes to advanced content, both FxPro and Questrade fall short, as neither provides a significant collection of videos for experienced traders. However, FxPro sets itself apart by offering an investor dictionary that defines at least 50 investing terms, a feature not available with Questrade. In terms of educational quality, FxPro scores slightly higher with 4 stars compared to Questrade's 3.5 stars. Additionally, ForexBrokers.com ranks FxPro at #17 for education among 62 brokers, while Questrade is positioned at #36, indicating a stronger educational offering from FxPro.
| Feature |
FxPro
|
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 | 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 FxPro is better than Questrade. FxPro finished with an overall rank of #21, while Questrade finished with an overall rank of #32.
FxPro competes among the top MetaTrader brokers, featuring multiple account options and various execution methods. It provides its own proprietary FxPro Edge app – though it isn’t yet available for mobile – alongside access to the BnkPro app (which isn’t yet available in all regions).
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 90 | 86 |
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FxPro and Questrade both do not allow the purchase of actual delivered cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives, making them comparable options for investors interested in cryptocurrency trading without the ownership of physical coins.
FxPro offers a wider variety of deposit and withdrawal options including ACH, SEPA transfers, PayPal, and Skrill compared to Questrade, which does not support these options but both brokers provide Visa, Mastercard, and bank wire facilities.
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 | FxPro | Questrade | |
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| Trust Score | 90 | 86 | |
| Winner | check_circle | ||
| Review | FxPro Review | Questrade Review |
| Broker Screenshots | FxPro | Questrade | |
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| Regulation | FxPro | Questrade | |
|---|---|---|---|
| Trust Score | 90 | 86 | |
| Year Founded | 2006 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | FxPro | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | FxPro | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FxPro | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 2249 | 641 | |
| Forex Pairs (Total) | 70 | 110 | |
| U.S. Stock Trading (Non CFD) | No | 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 | FxPro | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.51 | N/A | |
| All-in Cost EUR/USD - Active | 1.27 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | FxPro | Questrade | |
|---|---|---|---|
| Minimum Deposit | $100 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FxPro | 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 | Yes | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | FxPro | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 52 | |
| Charting - Indicators / Studies (Total) | 53 | 64 | |
| Charting - Drawing Tools (Total) | 25 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FxPro | 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 | 65 | 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 | FxPro | 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 | FxPro | 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 | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FxPro | 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 | FxPro Review | Questrade Review |
| Overall | FxPro | Questrade | |
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| Trust Score | 90 | 86 | |
| Winner | check_circle | ||
| Review | FxPro Review | Questrade Review |
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