Written by ForexBrokers.com
In this head to head comparison of IG 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.
IG, founded in 1974, and Questrade, which started in 2000, are two prominent names in the world of online brokerage. When it comes to public trading credentials, IG stands out as it is listed on a stock exchange, unlike Questrade. Additionally, IG also operates as a bank. This distinction is not shared by Questrade, giving IG a broader financial foundation and presence.
Both brokers possess licenses, but IG clearly leads with eight Tier-1 licenses and two Tier-2 licenses, while Questrade holds two Tier-1 licenses and no Tier-2 licenses. This contributes to IG achieving a perfect Trust Score of 99 from ForexBrokers.com, reflecting its high level of trust. Questrade, with a Trust Score of 86, is still regarded as trusted, though it has fewer top-tier licenses compared to IG.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Year Founded | 1974 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees of online brokers IG and Questrade, IG stands out for its comprehensive pricing options tailored for active traders and high-volume professionals. IG provides average spreads that are closer to the industry standard, particularly through its Forex Direct accounts. In July 2023, EUR/USD spreads on IG's Forex Direct account averaged 0.62 pips during all trading sessions, leading to an all-in cost of 0.82 pips with 0.2 pips per trade commission. Active traders can benefit from IG's rebate program, earning up to a 20% discount on spreads for trading over £300 million per month, making IG appealing for high-volume traders. IG is highly rated with 5 stars for its competitive fee structure and ranks #8 out of 62 brokers for commissions and fees.
Questrade, on the other hand, offers less competitive pricing, with target spreads on EUR/USD at 1.9 pips, which is higher compared to industry averages. This discrepancy in spread pricing places Questrade in a less favorable position for traders focusing on cost efficiency. Consequently, Questrade holds a 3-star rating for its commissions and fees and ranks significantly lower at #57 out of 62 brokers. This positions Questrade as a less attractive option for those prioritizing cost-effective trading solutions.
IG's ability to cater to the needs of both novice and professional traders by offering scalable pricing models and rebates highlights its dominance in the market relative to Questrade. The preferential pricing and programs designed for high-volume traders further solidify IG as a preferred broker for those seeking better rates on larger trades, while Questrade's comparatively high spreads may deter cost-conscious traders.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Minimum Deposit | £250.00 | $250 |
| Average Spread EUR/USD - Standard | 0.98 | N/A |
| All-in Cost EUR/USD - Active | 0.82 | 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.
When comparing the range of investments offered by online brokers IG and Questrade, both platforms stand out in their own ways. IG boasts a staggering 19,537 tradeable symbols, making it an excellent choice for those looking for a wide variety of options beyond traditional asset classes. In contrast, Questrade offers 641 tradeable symbols, providing a more streamlined selection that may appeal to investors with a focused strategy. Both brokers excel in forex trading, with IG offering 97 forex pairs and Questrade slightly ahead with 110 pairs. This showcases their strong positions in the forex market, catering well to those interested in currency trading.
Both IG and Questrade allow investors to trade exchange-traded securities on U.S. and international exchanges, which means they can invest in major companies like Apple and Vodafone. Neither platform currently supports the purchase of actual (delivered) cryptocurrencies, though both do provide the option to trade in cryptocurrency derivatives. Despite not offering copy trading, both IG and Questrade have earned a perfect five-star rating for their Range of Investments. IG, however, is ranked at number four out of 62 brokers by ForexBrokers.com for this category, while Questrade holds the eleventh spot, reflecting IG's slightly broader investment capabilities.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 641 |
| Forex Pairs (Total) | 97 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | 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 it comes to selecting the right trading platform, both IG and Questrade offer an array of tools and features catering to diverse trading needs. Each platform provides a free virtual demo account, allowing users to engage in simulated trading to hone their skills without any financial risk. Both brokers have developed proprietary platforms and offer Windows-based desktop downloads, as well as web-based trading platforms accessible through any browser. However, IG stands out with its support for MetaTrader 4 (MT4), a popular choice among traders for advanced analysis and automated trading strategies, while Questrade does not offer this feature.
Both platforms grant users the capability to trade directly from stock charts and provide the same number of drawing tools for charting, but they differ significantly in the customization of watch lists; IG offers 5 columns, whereas Questrade supports up to 52. Additionally, while neither platform offers copy trading, Questrade does include the DupliTrade feature for strategy building, which IG lacks. IG earns higher marks with a five-star rating and ranks second among 62 brokers for its trading platforms and tools according to ForexBrokers.com, compared to Questrade's four-star rating and 34th place ranking.
| Feature |
IG
|
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) | No | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 64 |
| Charting - Drawing Tools (Total) | 20 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both IG and Questrade offer comprehensive solutions that cater to traders using either iPhone or Android devices. Users can stay updated with stock or forex price alerts, and enjoy the convenience of syncing their watchlists between their mobile apps and online accounts. Traders will find both platforms support drawing trendlines and viewing different time frames on stock or forex charts, with auto-save functionality for ease of use. In terms of technical studies, IG provides 33 options for charting, while Questrade surpasses that with 64 choices.
Both apps allow the creation of watchlists with real-time quotes, ensuring you never miss a beat in the market. However, when considering user ratings, IG stands out with a perfect 5-star rating for mobile trading, while Questrade follows with 4 stars. According to ForexBrokers.com, IG takes the top spot among 62 brokers in the mobile trading apps category, whereas Questrade is ranked at #34. This highlights a significant difference in app performance and user satisfaction, favoring IG as the preferred choice for mobile trading.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 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 it comes to market research capabilities, IG stands out as a compelling choice compared to Questrade. IG provides a comprehensive suite of tools and information sources, including daily market commentary and forex news from top-tier providers like Bloomberg and Reuters. Additionally, IG enriches the trading experience with tools from Autochartist and Acuity Trading, along with a unique sentiment-based trading tool that displays position ratios. Moreover, IG offers the expertise of TipRanks and provides an economic calendar to track global news events. This rich array of resources contributes to IG’s perfect five-star rating for research, securing its place as the number two broker in this category according to ForexBrokers.com.
On the other hand, Questrade provides a more modest offering in market research. While it does supply tools from Autochartist and Trading Central, these options are less extensive than IG's offerings. Unfortunately, Questrade lacks daily market commentary and forex news from leading providers, as well as sentiment-based trading tools and resources from Acuity Trading. Despite providing access to TipRanks and an economic calendar, these limitations result in Questrade receiving a 3.5-star rating for research. This positions the broker at 51st place in the research category out of 62 brokers reviewed by ForexBrokers.com, highlighting its need for more comprehensive market insights.
| Feature |
IG
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | Yes |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both IG and Questrade offer extensive materials on forex and CFDs, including a range of articles, videos, and archived webinars. However, IG provides a more comprehensive learning experience. IG offers monthly online webinars that cater to educational needs, whereas Questrade does not. Both platforms maintain searchable archives of their recorded webinars, allowing beginners to revisit and learn at their own pace. In terms of beginner-friendly videos, both IG and Questrade excel by offering at least 10 tutorials, though only IG offers similar resources for advanced traders.
IG stands out further by providing an investor dictionary with over 50 terms, a feature that Questrade lacks. As a result of these offerings, IG receives a stellar education rating of 5 stars and holds the top rank amongst 62 brokers evaluated by ForexBrokers.com. In contrast, Questrade, while certainly valuable for beginners, scores 3.5 stars and ranks 36th in the same category. These distinctions highlight IG as the more optimal choice for educational resources in online trading.
| Feature |
IG
|
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 IG is better than Questrade. IG finished with an overall rank of #1, while Questrade finished with an overall rank of #32.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
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Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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Both IG and Questrade do not offer the option to buy actual, delivered cryptocurrency, but they do provide the ability to trade cryptocurrency derivatives.
IG stands out as an online broker by offering a variety of deposit and withdrawal options including ACH/SEPA transfers, PayPal, Visa, Mastercard, and bank wires, whereas Questrade supports Visa, Mastercard, and bank wires but lacks the ACH/SEPA transfer and PayPal options that IG provides.
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 | IG | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | IG Review | Questrade Review |
| Broker Screenshots | IG | Questrade | |
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| Regulation | IG | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1974 | 2000 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 8 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IG | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 641 | |
| Forex Pairs (Total) | 97 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IG | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | N/A | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | IG | Questrade | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $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 | IG | 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) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | IG | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 52 | |
| Charting - Indicators / Studies (Total) | 33 | 64 | |
| Charting - Drawing Tools (Total) | 20 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | 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 | 33 | 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 | IG | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | 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 | IG | 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 | IG Review | Questrade Review |
| Overall | IG | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | IG Review | Questrade Review |
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