Written by ForexBrokers.com
In this head to head comparison of Questrade vs IronFX, 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.
Established in 2000, Questrade is a significant player in the online brokerage world, offering a solid level of trustworthiness. With a Trust Score of 86 out of 99 as rated by ForexBrokers.com, Questrade is deemed a trusted broker. While it isn't publicly traded nor recognized as a bank, Questrade strengthens its credibility with 2 Tier-1 licenses, considered highly reliable by industry standards. Thus, Questrade stands as a dependable option for online trading, thanks to its regulatory safeguards.
Founded in 2010, IronFX is another prominent choice for online trading, with a modestly trusted rating. With a Trust Score of 83, it falls within the trusted category according to ForexBrokers.com. Similar to Questrade, IronFX is not listed on a stock exchange and is not a bank. However, IronFX slightly edges out with 3 Tier-1 licenses, reinforcing its position as a trusted broker. Despite zero Tier-2 licenses, IronFX's regulatory framework still garners confidence among its clients.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Year Founded | 2000 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Questrade and IronFX based on their commissions and fees, it's clear that both have distinct pricing structures. Questrade offers target spreads on the EUR/USD at 1.9 pips, which is relatively steep compared to the industry average. Ranked #57 out of 62 brokers by ForexBrokers.com in the Commissions and Fees category, Questrade has received a 3-star rating for its pricing.
On the other hand, IronFX shows greater potential for improvement, as its spreads also appear higher than the industry norm. For their Standard variable spread account, IronFX lists a typical spread of 1.8 pips, though this might vary due to different account types and no specified date range. Additionally, IronFX offers a zero fixed-spread account starting at zero with a $18 per lot commission, where spreads can widen to 3 pips overnight. Rated at 4 stars for commissions and fees and ranked #47 out of 62 brokers, IronFX is slightly better positioned than Questrade in this respect.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Minimum Deposit | $250 | $50 |
| Average Spread EUR/USD - Standard | N/A | 1.2 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment offerings of Questrade and IronFX, several distinctions stand out. Questrade comes ahead with a large selection of 641 tradeable symbols, including 110 forex pairs and allowing investments in both U.S. and international exchange-traded securities. This gives investors direct access to popular stocks like Apple and Vodafone. In contrast, IronFX provides 340 tradeable symbols, with 83 forex pairs, but does not offer direct investment in U.S. or international stocks. Both platforms provide forex trading through CFDs or spot contracts and offer cryptocurrency derivatives, but neither offers the purchase of actual cryptocurrencies.
In terms of supplementary services, IronFX sets itself apart by offering copy trading, a feature absent from Questrade. Despite this, Questrade's range of investments earns a 5-star rating, ranking it 11th out of 62 brokers, according to ForexBrokers.com. IronFX, with its more limited offerings, receives a 3.5-star rating and ranks 51st. For investors seeking a broader range of investment options, particularly in direct stock purchases and forex variety, Questrade presents a more comprehensive choice compared to IronFX.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 340 |
| Forex Pairs (Total) | 110 | 83 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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 evaluating trading platforms and tools, Questrade and IronFX both provide essential features like simulated trading through free virtual demo accounts. Questrade stands out with its proprietary platform developed in-house, catering to users who appreciate unique technology. Both brokers offer Windows-based desktop platforms and browser-based platforms for flexibility. However, IronFX gives more options to its users with access to the MetaTrader 4 (MT4) platform, known for its advanced charting and analysis capabilities, while Questrade does not support MT4 or MT5. IronFX also offers copy trading, a feature not available with Questrade, making it appealing for traders interested in mirroring the trades of others.
Questrade differentiates itself by providing 20 drawing tools for charting and the ability to trade directly from a stock chart, features that traders typically find beneficial for enhanced analysis. For keeping track of trading interests, Questrade offers extensive customization with 52 columns for watch lists, far exceeding IronFX's offer of 7 columns. In terms of overall rating, Questrade earns a slightly higher score of 4 stars out of 5 for its trading platforms and tools, compared to IronFX’s 3.5 stars. According to ForexBrokers.com, Questrade is ranked 34th out of 62 brokers in this category, while IronFX is ranked 60th, indicating a more favorable perception of Questrade's platform amongst reviewers.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 7 |
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Both Questrade and IronFX offer comprehensive mobile trading apps for iPhone and Android users, equipped with essential features like price alerts and the ability to view multiple time frames on charts. While both platforms allow users to draw trendlines and auto-save drawings on charts, a notable distinction lies in watchlist management. Questrade offers seamless watchlist symbol syncing between mobile apps and online accounts, a feature not available with IronFX. In terms of charting tools, Questrade leads with 64 technical studies compared to IronFX's 30, providing a richer analytical experience.
When it comes to user ratings and industry rankings, Questrade holds a slight edge with a 4-star rating for its mobile trading app, whereas IronFX comes in at 3.5 stars. This preference is mirrored in their rankings on ForexBrokers.com, with Questrade positioned at number 34 out of 62 brokers, significantly ahead of IronFX, which stands at number 61. Both platforms allow users to create watchlists with real-time quotes, making them competitive options; however, Questrade's advanced features and higher ratings make it a more attractive choice for those keen on a comprehensive mobile trading experience.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| 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 Questrade and IronFX for market research options, notable differences emerge. IronFX provides daily market commentary, an essential feature for investors seeking timely insights into market trends, whereas Questrade does not offer this service. For those interested in forex news from leading sources like Bloomberg and Reuters, IronFX is the preferred choice as Questrade lacks news updates from these top-tier outlets. On the other hand, Questrade shines in technical and fundamental analysis tools, offering resources from companies like Autochartist and Trading Central, while IronFX only provides tools from Trading Central.
Both Questrade and IronFX include an economic calendar, a crucial tool for keeping track of significant global economic events. However, neither platform offers sentiment-based trading tools or research from Acuity Trading. When it comes to additional insights from TipRanks, only Questrade includes this resource. With a research rating of 3.5 stars, Questrade ranks #51 out of 62 brokers, contrasting with IronFX’s higher rating of 4 stars, placing it at #28. These differences make IronFX a strong choice for daily commentary and news, while Questrade suits investors focused on technical analysis tools.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Questrade and IronFX for educational resources aimed at beginners, both brokers provide over ten pieces of educational content focusing on forex and CFDs, such as articles, videos, and archived webinars. This makes them both strong choices for beginners seeking foundational knowledge. They also both offer searchable archives of previously recorded client webinars, allowing users to explore past content at their convenience. Notably, neither broker provides monthly live educational webinars, which could be a limitation for those seeking real-time learning opportunities.
Questrade and IronFX each have a selection of over ten beginner-focused educational videos that introduce various trading topics. While Questrade lacks an advanced video library, IronFX also does not provide a range of content for experienced traders. However, IronFX does offer an investor dictionary, which contains definitions for over fifty investing terms, a feature Questrade does not have. In terms of educational ratings, IronFX holds a slight edge with 4 stars compared to Questrade's 3.5 stars, according to ForexBrokers.com, where they are ranked #44 and #36, respectively, out of 62 brokers in the education category. This suggests IronFX might offer a slightly more comprehensive educational experience for beginner traders.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| 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) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Questrade is better than IronFX. Questrade finished with an overall rank of #32, while IronFX finished with an overall rank of #48.
Regulated in both the U.S. and Canada, Questrade is a trusted full-service multi-asset broker now offering forex and CFDs alongside its stock trading services for active and passive investors. While its scope of educational resources and in-house research is limited, Questrade has an impressive platform lineup.
| Feature |
Questrade
|
IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 83 |
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Both Questrade and IronFX do not provide the option to purchase actual delivered cryptocurrency, but they both offer the ability to invest in cryptocurrency derivatives.
When comparing online brokers, both Questrade and IronFX do not support ACH, SEPA, or PayPal for deposits or withdrawals, but IronFX uniquely offers Skrill, while both brokers provide options to use Visa, Mastercard, and bank wires for funding accounts.
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 | Questrade | IronFX | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | Questrade Review |
| Broker Screenshots | Questrade | IronFX | |
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| Regulation | Questrade | IronFX | |
|---|---|---|---|
| Trust Score | 86 | 83 | |
| Year Founded | 2000 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Questrade | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| 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) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Questrade | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Questrade | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 340 | |
| Forex Pairs (Total) | 110 | 83 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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 | Questrade | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.2 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | IronFX | |
|---|---|---|---|
| Minimum Deposit | $250 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Questrade | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| 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 | Questrade | IronFX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | IronFX | |
|---|---|---|---|
| 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) | No | Yes |
| Major Forex Pairs | Questrade | IronFX | |
|---|---|---|---|
| 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 | Questrade Review |
| Overall | Questrade | IronFX | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | Questrade Review |
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