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.
FxPro, founded in 2006, and Questrade, established in 2000, are two prominent online brokers, each with unique regulatory features. FxPro, unlike Questrade, operates as a bank and is not publicly traded. When it comes to regulatory safety, both hold two Tier-1 licenses, which are highly trusted according to ForexBrokers.com. Additionally, FxPro has one Tier-2 license, enhancing its regulatory standing, whereas Questrade has none.
In terms of trustworthiness, FxPro earns a commendable Trust Score of 93 out of 99 from ForexBrokers.com, placing it in the highly trusted category. In comparison, Questrade receives a Trust Score of 86, labeling it as trusted but slightly lower than FxPro. Both brokers are well-regarded in the industry, but FxPro's additional Tier-2 license and higher Trust Score give it an edge in terms of perceived security and reliability.
| Feature |
FxPro
|
Questrade
|
|---|---|---|
| Year Founded | 2006 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | 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 a range of trading platforms and tools designed to enhance the trading experience, appealing to different types of investors. Both brokers provide a simulation or paper trading feature, allowing users to practice their strategies without risking real money. FxPro and Questrade also have their own proprietary platforms, which are available on Windows desktop and as web-based browser versions. While both brokers enable users to trade directly from stock charts, FxPro stands out by offering the popular MetaTrader 4 and MetaTrader 5 platforms, whereas Questrade does not. Moreover, FxPro provides copy trading capabilities, giving users the option to mirror the trades of seasoned investors, a feature that Questrade lacks. However, Questrade supports DupliTrade, unlike FxPro.
In terms of charting tools, FxPro offers 25 drawing tools, slightly edging out Questrade's 20. When it comes to watch lists, Questrade allows for a greater degree of customization with 52 columns compared to FxPro’s 6. Both brokers receive a solid 4-star rating for trading platforms and tools, reflecting their strengths in this area. However, when considering rankings, ForexBrokers.com places FxPro at #17 out of 62 brokers, while Questrade is ranked at #34, indicating a stronger market position for FxPro in this category. Whether one broker is preferable over the other depends largely on the specific needs and preferences of the trader, especially concerning platform variety and tool availability.
| 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 the market research offerings of FxPro and Questrade, FxPro provides a comprehensive suite of services that cater to both novice and seasoned traders. FxPro offers daily market commentary, giving traders up-to-date insights every day. Additionally, they provide forex news from top-tier sources like Bloomberg and Reuters, which is essential for staying informed about the global financial markets. The broker also supports your trading decisions with a range of tools, including sentiment-based trading tools and resources from Trading Central, alongside an informative economic calendar showcasing global events. These features contribute to its strong four-star research rating and a respectable ranking of 26 out of 62 brokers in the Research category.
On the other hand, Questrade offers unique tools such as Autochartist and TipRanks, helping traders with technical analysis and market insights. However, it lacks daily market commentary and forex news from elite sources, which may leave users searching elsewhere for timely information. Although Questrade also uses Trading Central tools and provides an economic calendar, its research features are rated at 3.5 stars, ranking it 51 out of 62 brokers. This demonstrates that while Questrade has valuable resources, it may fall short for traders heavily reliant on daily updates and comprehensive market news.
| 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.
When diving into the world of forex and CFDs, beginners often look for brokers with strong educational resources. FxPro and Questrade both offer over ten educational pieces, like articles and videos focused on forex and CFDs, making them viable choices for new traders. They each host a searchable archive of pre-recorded webinars, but neither provides ongoing live educational webinars. Although both platforms supply over ten beginner-friendly videos explaining trading topics, they don't cater much to advanced traders looking for more in-depth content. When it comes to learning the jargon, FxPro stands out by offering an investor dictionary with over 50 investing terms, a feature Questrade lacks.
In ratings, FxPro edges just slightly ahead with a 4-star educational rating compared to Questrade's 3.5 stars. Both brokers can effectively introduce beginners to forex and CFDs, but FxPro's broader educational offerings contribute to its higher ranking at #18 out of 62 brokers evaluated by ForexBrokers.com, while Questrade sits at #36. For those seeking a solid foundation and familiarity with trading terms alongside video tutorials, FxPro may have a slight advantage.
| 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 |
|
|
| Trust Score | 93 | 86 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
2 of 5| Overall Rating | FxPro | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | FxPro Review | Questrade Review |
| Broker Screenshots | FxPro | Questrade | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | FxPro | Questrade | |
|---|---|---|---|
| Trust Score | 93 | 86 | |
| Year Founded | 2006 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | FxPro Review | Questrade Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill