Written by ForexBrokers.com
In this head to head comparison of HFM 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.
Comparing online brokers HFM and Questrade: Questrade (founded 2000) is the older firm, while HFM started in 2010. Neither company is publicly traded or operates as a bank. Both earn a ForexBrokers.com Trust Score of 85/99, which falls in the “trusted” 80–89 range (90–99 highly trusted; 70–79 average risk; 60–69 high risk; below 59 not trusted).
Regulation and licenses show key differences. HFM holds 2 Tier-1 licenses (viewed as highly trusted by ForexBrokers.com) and 3 Tier-2 licenses (trusted), giving it a wider regulatory footprint across top and mid-tier authorities. Questrade holds 1 Tier-1 license and no Tier-2 licenses. While both score the same on trust, HFM carries more licenses, whereas Questrade has a leaner setup.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Year Founded | 2010 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
When comparing commissions and fees, HFM comes out ahead of Questrade overall. HFM’s trading costs are slightly above the industry average, with a typical spread of 1.2 pips on its standard accounts and an effective spread of 0.7 pips on its Zero account after commission. HFM is rated 4 out of 5 stars for commissions and fees and ranks #28 out of 36 brokers in this category.
Questrade uses a spread-only pricing model, so the cost is built into the buy-sell spread rather than charged as a separate commission for forex. While Questrade says spreads can be as low as 0.8 pips under normal market conditions, average pricing for major pairs was closer to 2.1 to 2.5 pips at the time of review, which can make trades more expensive. On CFDs, Questrade also adds a $9.95 USD fee per unit, and that can quickly increase the total cost of trading. Questrade is rated 3.5 out of 5 stars and ranks #33 out of 36 brokers for commissions and fees.
For traders focused on lower costs, HFM appears to offer better value than Questrade in this comparison. Questrade’s wider spreads and added CFD fees can push trading expenses higher, especially for active traders or those trading larger positions. In simple terms, HFM is the more affordable choice between the two for commissions and fees, though neither broker is the cheapest option in the market.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.8 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 1.1 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
HFM and Questrade both let clients trade forex, but Questrade offers a much wider selection, with 110 currency pairs compared with HFM’s 38. Questrade also has more tradable symbols overall, listing 675 versus HFM’s 344, which gives it a broader mix of markets to choose from. Neither broker offers access to actual exchange-traded shares on U.S. or international exchanges, so you cannot buy stocks like Apple or Vodafone directly through either platform.
When it comes to extra investment features, HFM has the edge in a few areas. It offers copy trading and cryptocurrency CFDs, while Questrade does not. That said, Questrade still comes out ahead for range of investments overall, earning 5 stars versus HFM’s 4 stars and ranking #12 out of 36 brokers compared with HFM’s #28. In simple terms, Questrade offers more choice, while HFM includes a few features Questrade does not.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 344 | 675 |
| Forex Pairs (Total) | 38 | 110 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | No |
| 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.
HFM and Questrade both give traders a wide range of platform choices, including free demo accounts, proprietary platforms, Windows desktop downloads, and web-based trading. Each also lets users place trades directly from a stock chart, and both are rated 4 out of 5 stars for Trading Platforms and Tools. On ForexBrokers.com, Questrade edges ahead with a #28 ranking out of 36 brokers, while HFM is ranked #33.
Where HFM stands out is in copy trading and support for both MetaTrader 4 and MetaTrader 5, features Questrade does not offer. This makes HFM a stronger pick for traders who want access to popular third-party platforms or prefer to follow other traders’ strategies. Questrade still covers the basics well with its own in-house platform and browser trading, but HFM offers more platform variety overall.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 38 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
HFM and Questrade both offer mobile trading apps for iPhone and Android, and each app includes price alerts, trendline drawing, and automatic saving for chart drawings. That means both brokers make it easy to track markets and manage trades from a phone or tablet. HFM’s mobile app is rated 4 out of 5 stars for mobile trading apps, while Questrade is rated 3.5 out of 5 stars.
The biggest difference is watchlist syncing and charting tools. Questrade lets users sync watchlists between the mobile app and online account, so updates carry over in both places, while HFM does not. Questrade also offers far more technical studies in its mobile charts, with 64 compared with HFM’s 5. In ForexBrokers.com’s mobile trading apps ranking, Questrade places #28 out of 36 brokers, while HFM ranks #32.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 5 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, HFM offers more built-in tools than Questrade. HFM provides daily market commentary, forex news from major sources like Bloomberg and Reuters, a sentiment tool showing long and short positions, research from Acuity Trading, and an economic calendar for global events. It also includes Autochartist for technical and fundamental analysis. Questrade, on the other hand, offers Autochartist, Trading Central tools, and TipRanks market research, but it does not provide daily market commentary, top-tier forex news, sentiment data, Acuity Trading tools, or an economic calendar.
Overall, HFM earns 4 out of 5 stars for Research and ranks #18 out of 36 brokers in ForexBrokers.com’s Research category, while Questrade scores 3.5 out of 5 stars and ranks #34. If you want a broker with more news, commentary, and market tracking tools in one place, HFM has the edge. If you value Trading Central and TipRanks specifically, Questrade may be the better fit.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | No | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | Yes |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
When it comes to learning support for beginners, HFM gives new traders more to work with than Questrade. HFM offers forex and CFDs education with 10 or more learning pieces, plus monthly client webinars and at least 10 beginner trading videos. It also has 10 or more advanced videos, which can help as a trader grows. Questrade, by contrast, does not meet the same level of forex or CFDs education, does not offer monthly educational webinars, and does not provide the same depth of beginner or advanced video content.
Based on ForexBrokers.com ratings, HFM scores 4 stars for Education, while Questrade scores 3.5 stars. In the overall Education ranking out of 36 brokers, Questrade sits slightly ahead at #28, with HFM at #29. Even so, for beginners who want more hands-on learning materials, HFM appears to offer the more useful education setup.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that HFM is better than Questrade. HFM finished with an overall rank of #27, while Questrade finished with an overall rank of #29.
HFM (HF Markets) is a global broker best known for its MetaTrader offering, solid research tools, and proprietary copy trading platform, alongside a broad selection of forex pairs and CFDs.
| Feature |
HFM
|
Questrade
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 85 | 85 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Comparing online brokers HFM and Questrade for cryptocurrency trading: neither offers the purchase of actual (delivered) crypto, but HFM lets you trade cryptocurrency CFDs, whereas Questrade does not.
HFM vs Questrade deposit and withdrawal methods: neither supports ACH/SEPA or PayPal, both accept bank wire transfers, only HFM offers Skrill (Questrade does not), and Visa/Mastercard availability is not specified for either broker.
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
0 of 5| Overall Rating | HFM | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 85 | 85 | |
| Winner | check_circle | ||
| Review | HFM Review | Questrade Review |
| Broker Screenshots | HFM | Questrade | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | HFM | Questrade | |
|---|---|---|---|
| Trust Score | 85 | 85 | |
| Year Founded | 2010 | 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 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | HFM | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | ||
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | 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) | HFM | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | HFM | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 344 | 675 | |
| Forex Pairs (Total) | 38 | 110 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | No | |
| 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 | HFM | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.8 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 1.1 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | HFM | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | HFM | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | HFM | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 38 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 5 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | HFM | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | HFM | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | HFM | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | HFM Review | Questrade Review |
| Overall | HFM | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 85 | 85 | |
| Winner | check_circle | ||
| Review | HFM Review | Questrade Review |
IG
FOREX.com
CMC Markets
XTB
eToro
AvaTrade
Pepperstone
FP Markets
Tickmill