Written by ForexBrokers.com
In this head to head comparison of IC Markets 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.
IC Markets vs. Questrade: IC Markets was founded in 2007, while Questrade dates back to 2000. Both are private (not publicly traded) and are not banks. ForexBrokers.com rates IC Markets at 83/99 and Questrade at 85/99, placing both in the trusted range.
In terms of regulation, IC Markets holds two Tier-1 licenses and no Tier-2 licenses; Questrade holds one Tier-1 license and no Tier-2 licenses. Per ForexBrokers.com’s scale—90–99 highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted—both brokers land in the trusted category.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Year Founded | 2007 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
When comparing IC Markets and Questrade on commissions and fees, IC Markets comes out far ahead for most active traders, especially in forex. IC Markets offers a low-cost Standard account with spread-only pricing, plus Raw Spread and cTrader Raw Spread accounts with very tight spreads and small commissions. Its EUR/USD pricing can be especially competitive, with all-in costs that can stay near the low end of the market. IC Markets is rated 5 stars and ranked #5 out of 36 for Commissions and Fees.
Questrade Global, by contrast, uses spread-based pricing, so your cost is built into the buy-sell spread instead of a separate commission. While Questrade says spreads can start as low as 0.8 pips, real-world pricing on major pairs has often been closer to 2.1 to 2.5 pips, which can make trading more expensive. Its CFD pricing can also add up quickly because of the extra trading fee. Questrade is rated 3.5 stars and ranked #33 out of 36 for Commissions and Fees.
Overall, IC Markets is the better choice if low trading costs matter most, particularly for forex traders who want tighter spreads and lower all-in expenses. Questrade may still work for some traders, but its fee structure is less competitive, especially for frequent trading or CFD use. For commissions and fees, IC Markets is the clear winner.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average spread (EUR/USD) - Standard account | 0.62 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the range of investments, Questrade and IC Markets both let clients trade forex as CFDs or spot contracts, but they differ in the mix of other products available. IC Markets offers a much larger overall list of tradeable symbols, with 3,583 compared with Questrade’s 675, and it also provides access to 61 forex pairs. Questrade offers 110 forex pairs, giving it a wider choice in that one area.
IC Markets stands out for extra market access, including exchange traded securities on international exchanges, copy trading, and cryptocurrency CFDs. Questrade does not offer international exchange traded securities, copy trading, or crypto CFDs. Neither broker offers direct U.S.-listed share trading or the ability to buy actual cryptocurrency. In ForexBrokers.com’s Range of Investments category, Questrade is rated 5 stars and ranked #12 out of 36 brokers, while IC Markets is rated 4.5 stars and ranked #22.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 675 |
| Forex Pairs (Total) | 61 | 110 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | Yes | 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.
IC Markets and Questrade both give traders a strong set of platform choices, including a free demo account for paper trading, desktop software for Windows, and web-based trading access. Each also lets users place trades directly from charts, and both are rated 4 out of 5 stars for trading platforms and tools. In ForexBrokers.com’s ranking of 36 brokers, IC Markets sits higher at #17, while Questrade is ranked #28.
The main differences come down to platform variety and extras. IC Markets does not offer a proprietary in-house platform, but it does support MetaTrader 4, MetaTrader 5, and copy trading, which may appeal to active forex traders and those who want more third-party tools. Questrade, on the other hand, does offer its own built-in platform, but it does not support MT4, MT5, or copy trading. For traders who want MetaTrader support and social trading features, IC Markets has the edge; for those who prefer a broker-developed platform, Questrade may be the better fit.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | 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) | 30 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and Questrade both offer mobile trading apps for iPhone and Android, so either broker lets you trade on the go from a phone or tablet. Each app also includes price alerts, plus tools for drawing trendlines on charts and saving those drawings automatically. That makes both platforms useful for traders who want basic charting and account access from mobile devices.
Where Questrade pulls ahead is watchlist syncing, which lets changes made in the app carry over to the online account and vice versa. Questrade also offers more chart studies, with 64 technical indicators compared with 30 at IC Markets. Even so, IC Markets has the higher mobile app rating at 4 out of 5 stars, while Questrade is rated 3.5 out of 5. In ForexBrokers.com’s mobile trading apps rankings, IC Markets places 22nd out of 36 brokers, ahead of Questrade at 28th.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 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, IC Markets has the edge over Questrade. IC Markets offers daily market commentary, forex news from major sources like Bloomberg and Reuters, a sentiment tool showing long and short positions, and an economic calendar for tracking global events. It also includes research tools from Autochartist and Trading Central. Questrade also provides Autochartist, Trading Central, and TipRanks, but it does not offer daily market commentary, top-tier forex news, a sentiment tool, or an economic calendar.
That difference is reflected in third-party ratings and rankings. IC Markets is rated 4 out of 5 stars for research and ranks #21 out of 36 brokers at ForexBrokers.com, while Questrade is rated 3.5 stars and ranks #34. For traders who want more built-in market research and more frequent updates, IC Markets offers a wider selection overall.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
For beginners looking to learn forex or CFD trading, IC Markets offers more educational support than Questrade. IC Markets provides at least 10 forex or CFD learning pieces, monthly client webinars, and both beginner and advanced video libraries with at least 10 videos each. Questrade does not meet those same marks for forex or CFD education, does not offer monthly educational webinars, and does not have 10 beginner or 10 advanced trading videos aimed at those audiences.
That gap shows up in outside ratings as well. IC Markets is rated 4 out of 5 stars for Education and ranks #16 out of 36 brokers in ForexBrokers.com’s Education category, while Questrade is rated 3.5 out of 5 stars and ranks #28. For new traders who want more lessons, videos, and live learning events, IC Markets is the stronger choice.
| Feature |
IC Markets
|
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 IC Markets is better than Questrade. IC Markets finished with an overall rank of #21, while Questrade finished with an overall rank of #29.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
|
Questrade
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 83 | 85 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Neither IC Markets nor Questrade lets you buy actual (delivered) cryptocurrency, but IC Markets offers cryptocurrency CFDs while Questrade does not.
IC Markets vs. Questrade deposit and withdrawal comparison: neither supports ACH or SEPA transfers, both support bank wire transfers, IC Markets supports PayPal and Skrill while 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 | IC Markets | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Questrade Review |
| Broker Screenshots | IC Markets | Questrade | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | IC Markets | Questrade | |
|---|---|---|---|
| Trust Score | 83 | 85 | |
| Year Founded | 2007 | 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 | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| 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) | No | 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) | IC Markets | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | IC Markets | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 675 | |
| Forex Pairs (Total) | 61 | 110 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | Yes | 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 | IC Markets | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.62 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | IC Markets | Questrade | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | IC Markets | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | 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 | Yes | No |
| Trading Tools | IC Markets | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | 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 | 30 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IC Markets | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | IC Markets | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | IC Markets | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | IC Markets Review | Questrade Review |
| Overall | IC Markets | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Questrade Review |
IG
FOREX.com
CMC Markets
XTB
eToro
AvaTrade
Pepperstone
FP Markets
Tickmill