Written by ForexBrokers.com
In this head to head comparison of OANDA 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.
OANDA vs Questrade: OANDA was founded in 1996 and Questrade in 2000. Neither broker is publicly traded or a bank. According to ForexBrokers.com, OANDA holds a Trust Score of 92/99 (highly trusted), while Questrade scores 85/99 (trusted). For context, ForexBrokers.com rates 90–99 as highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted.
Regulation and licenses: OANDA holds 7 Tier-1 licenses and 0 Tier-2 licenses. Questrade holds 1 Tier-1 license and 0 Tier-2 licenses. Tier-1 licenses are considered highly trusted by ForexBrokers.com. In simple terms, both brokers are overseen by at least one top-tier regulator, with OANDA regulated across more top-tier jurisdictions, which aligns with its higher Trust Score.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Year Founded | 1996 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing OANDA vs. Questrade on commissions and fees, OANDA comes out slightly ahead, though neither broker is a true low-cost leader. OANDA’s forex pricing is usually on the higher side, with average EUR/USD spreads of 1.61 pips on its standard pricing and lower spreads on its core account, which adds a commission of $5 per $100,000 traded per side. OANDA also stands out for very small trade sizes, active trader rebates in some regions, and more pricing transparency than many rivals. OANDA is rated 4 stars and ranks #30 out of 36 brokers for commissions and fees.
Questrade Global uses spread-only pricing, meaning there is no separate forex commission built into the trade, but the spread itself can be wide. While Questrade says spreads can start as low as 0.8 pips, typical major-pair spreads were found to be closer to 2.1 to 2.5 pips, which can make trading more expensive in practice. Its CFD pricing can also add up quickly because of the $9.95 USD fee per trade, plus overnight financing charges. Questrade is rated 3.5 stars and ranks #33 out of 36 brokers for commissions and fees.
In simple terms, OANDA is the better pick if you want more flexible forex pricing options and smaller trade sizes, while Questrade may feel more expensive for active traders because of wider spreads and CFD fees. If keeping trading costs down is your main goal, OANDA has the edge in this category, but both brokers are pricier than the best fee-focused alternatives.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.68 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 1.69 | N/A |
| Non-wire bank transfer | Yes | 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 range of investments, OANDA and Questrade both offer forex trading, but they differ a lot beyond that. OANDA gives traders access to a much larger list of tradable symbols, with 4,172 available compared with Questrade’s 675. OANDA also offers 69 forex pairs, while Questrade lists 110 pairs. In addition, OANDA lets clients trade U.S. and international exchange-listed shares, use copy trading, and buy both actual cryptocurrency and crypto CFDs. Questrade does not offer U.S. or international exchange-listed securities, copy trading, or crypto trading in this comparison.
Overall, Questrade earns a slightly higher Range of Investments rating at 5 stars and ranks #12 out of 36 brokers on ForexBrokers.com, while OANDA scores 4.5 stars and ranks #20. That said, OANDA may appeal more to traders who want a wider mix of markets, since it includes stocks from major exchanges, a broad symbol list, and crypto access. Questrade, on the other hand, offers more forex pairs, which may matter more if currency trading is your main focus.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 675 |
| Forex Pairs (Total) | 69 | 110 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | Yes | 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.
OANDA and Questrade both give traders a solid mix of platform choices, including a free demo account, a proprietary platform, a Windows desktop app, and a web-based trading platform. Both also let users trade directly from a stock chart, which can make placing orders faster and easier. Each broker earns 4 out of 5 stars for Trading Platforms and Tools, so neither one falls short on the basics.
Where OANDA stands out is choice and flexibility. It offers copy trading, MetaTrader 4 (MT4), and MetaTrader 5 (MT5), while Questrade does not support these features. That extra platform access may matter more to active traders and those who want more ways to trade. In ForexBrokers.com’s rankings for Trading Platforms and Tools, OANDA places higher at #16 out of 36 brokers, while Questrade comes in at #28.
| Feature |
OANDA
|
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) | 89 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and Questrade both offer mobile trading apps for iPhone and Android, and both let users set stock or forex price alerts, draw trendlines on charts, and have those drawings auto-save. Where Questrade stands out is watchlist syncing: changes made in the mobile app can sync with the client’s online account, while OANDA does not offer this feature. For charting tools, Questrade also gives mobile traders more technical studies, with 64 compared with OANDA’s 30.
Looking at overall mobile app ratings, OANDA has the edge. It earns 5 stars for Mobile Trading Apps and ranks #7 out of 36 brokers on ForexBrokers.com, while Questrade scores 3.5 stars and ranks #28. In simple terms, both apps cover the basics well, but OANDA is rated higher overall, while Questrade offers better watchlist syncing and more chart indicators.
| Feature |
OANDA
|
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, OANDA has the edge over Questrade. OANDA offers daily market commentary, forex news from major sources like Bloomberg, Reuters, and Dow Jones, plus a sentiment tool that shows how traders are positioned across currency pairs. It also includes an economic calendar for tracking key global events. Questrade, by comparison, does not offer daily market commentary, top-tier forex news, sentiment data, or an economic calendar, though it does provide research tools from Autochartist and Trading Central, as well as market research from TipRanks.
These differences are reflected in independent ratings and rankings. OANDA earns 5 stars for Research and ranks #4 out of 36 brokers in the ForexBrokers.com Research category, while Questrade is rated 3.5 stars and ranks #34. If you want a broker with more built-in market news, analysis, and trader insights, OANDA is the stronger choice for research overall.
| Feature |
OANDA
|
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 | No | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
When it comes to learning support for beginners, OANDA stands out over Questrade. OANDA offers forex and CFDs education with at least 10 learning pieces, plus monthly client webinars, 10 or more beginner trading videos, and 10 or more advanced videos for more experienced traders. This helps new users start with the basics and keep building their knowledge over time. By comparison, Questrade does not appear to offer the same level of forex or CFDs education, does not provide monthly educational webinars, and does not meet the mark for beginner or advanced trading video content.
That difference shows up in the ratings too. OANDA earns 5 out of 5 stars for Education and ranks #18 out of 36 brokers in the ForexBrokers.com Education category, while Questrade is rated 3.5 stars and ranks #28 out of 36. For beginners who want more step-by-step help, more video lessons, and regular webinars, OANDA offers a stronger educational experience than Questrade.
| Feature |
OANDA
|
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 OANDA is better than Questrade. OANDA finished with an overall rank of #13, while Questrade finished with an overall rank of #29.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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Questrade
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| Trust Score | 92 | 85 |
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OANDA vs Questrade: the online broker OANDA lets you buy actual (delivered) cryptocurrency and trade crypto CFDs, while Questrade offers neither.
Among online brokers, OANDA offers ACH/SEPA, PayPal, Skrill, and bank wire deposit and withdrawal options, while Questrade only supports bank wires.
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 | OANDA | Questrade | |
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| Trust Score | 92 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | Questrade Review |
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| Regulation | OANDA | Questrade | |
|---|---|---|---|
| Trust Score | 92 | 85 | |
| Year Founded | 1996 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | OANDA | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | OANDA | 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 | OANDA | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 675 | |
| Forex Pairs (Total) | 69 | 110 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | Yes | 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 | OANDA | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.68 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 1.69 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | OANDA | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | OANDA | 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 | OANDA | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 89 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | 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 | OANDA | 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 | OANDA | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | OANDA | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | OANDA Review | Questrade Review |
| Overall | OANDA | Questrade | |
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| Trust Score | 92 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | Questrade Review |
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