Written by ForexBrokers.com
In this head to head comparison of Plus500 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.
When comparing the online brokers Plus500 and Questrade, several factors stand out, especially regarding their regulatory credentials. Plus500, founded in 2008, is publicly traded and holds 6 Tier-1 licenses, earning it a Trust Score of 99 from ForexBrokers.com. These features contribute to Plus500 being considered highly trusted. By contrast, Questrade, founded in 2000, is not publicly traded but holds 2 Tier-1 licenses and has a Trust Score of 86, categorizing it as trusted. Neither broker functions as a bank, ensuring a focused experience for investors.
While both Plus500 and Questrade have solid standings, Plus500's stronger regulatory presence with additional Tier-2 licenses highlights its dedication to safety and reliability. With Plus500's presence on a stock exchange and a perfect Trust Score, it may offer a heightened sense of security for investors compared to Questrade, which also maintains a trusted reputation but lacks the same level of licensing credentials and public company status.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Year Founded | 2008 | 2000 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 2 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing Plus500 to Questrade regarding commissions and fees, Plus500's pricing is slightly above the industry average and trails behind some top forex brokers, especially for active traders. Although Plus500 does not offer discounts to retail clients, it does provide cash rebates similar to an active trader program for those who qualify as Professional clients. In terms of spreads, during April 2024, Plus500 reported an average of 1.5 pips for the EUR/USD, which is higher than the industry average, leading to a rating of 4.0 stars and a ranking of #25 out of 62 brokers by ForexBrokers.com.
On the other hand, Questrade's target spreads on the EUR/USD average at 1.9 pips, which is considered steep compared to the industry standard. This contributes to a lower rating of 3 stars for commissions and fees. Consequently, Questrade is ranked at #57 out of 62 brokers by ForexBrokers.com for this category, highlighting areas where it might not compete as strongly as Plus500 in terms of cost-effectiveness for traders.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Minimum Deposit | €100 | $250 |
| Average Spread EUR/USD - Standard | 1.5 | N/A |
| All-in Cost EUR/USD - Active | 1.5 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Plus500 and Questrade both offer a range of investment opportunities but cater to different investor preferences. Plus500 provides a comprehensive selection of 5,500 tradeable symbols, including 65 forex pairs and a wide array of contract for difference (CFD) options such as exchange-traded securities and cryptocurrency derivatives. This gives investors a broad spectrum of choices, especially for those interested in CFDs. However, Plus500 does not support copy trading or the acquisition of actual cryptocurrencies.
On the other hand, Questrade excels in providing 641 tradeable symbols, focusing on a higher number of forex pairs, with 110 available for trading. Like Plus500, Questrade facilitates access to U.S. and international exchange-traded securities and cryptocurrency derivatives but also lacks support for copy trading and direct cryptocurrency purchases. Despite offering fewer total symbols, Questrade’s emphasis on forex options and its overall offering earn it a higher rating, making it attractive for those keen on a diverse investment portfolio. According to ForexBrokers.com, Questrade ranks higher than Plus500 in terms of the range of investments, underscoring its appeal to a wide audience of traders.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 641 |
| Forex Pairs (Total) | 65 | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
Dive deeper: Best Copy Trading Platforms.
Plus500 and Questrade both offer similar foundational features for traders, including free virtual demo accounts and proprietary platforms, which are developed in-house. However, when diving into specifics, their offerings can differ significantly. Plus500 lacks a Windows-based desktop download trading platform, whereas Questrade provides one, offering more flexibility for desktop users. Both brokers offer web-based trading platforms, which is a plus for browser-based traders. Neither Plus500 nor Questrade offers popular third-party integrations like MetaTrader 4 (MT4) or MetaTrader 5 (MT5), and both miss out on copy trading capabilities. However, Questrade does set itself apart by offering DupliTrade, an advanced trading option not found at Plus500.
When looking at charting and analytical tools, Plus500 offers a slightly larger selection of 22 drawing tools, compared to Questrade’s 20. Questrade, however, outshines Plus500 in terms of customization options for watch lists, boasting 52 columns compared to Plus500's 10. Another notable distinction is Questrade's ability to trade directly from stock charts, adding to its practicality for active traders. In terms of ratings and rankings, Plus500 edges out in overall satisfaction with its trading platforms and tools, with a rating of 4.5 stars compared to Questrade’s 4 stars, and a higher ranking at #14 versus Questrade’s #34 according to ForexBrokers.com.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 114 | 64 |
| Charting - Drawing Tools (Total) | 22 | 20 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 10 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Plus500 and Questrade offer comprehensive mobile trading apps available on iPhone and Android platforms, catering to the needs of on-the-go traders. These apps are equipped with essential features such as stock and forex price alerts and allow users to sync their watchlists seamlessly between mobile and online accounts. Plus500 stands out with an impressive 110 technical studies for charting, while Questrade offers 64. Both apps provide the functionality to draw trendlines and view charts across various time frames, such as daily, weekly, or intraday. However, Questrade has the added advantage of auto-saving drawings on its charts, a feature absent from Plus500. Both apps allow the creation of watchlists with real-time quotes, enabling traders to stay updated with market movements.
When evaluated for overall mobile trading experience, Plus500 receives a rating of 4.5 stars out of five, slightly higher than Questrade's rating of 4 stars. ForexBrokers.com ranks Plus500 at #14 among 62 brokers in the Mobile Trading Apps category, while Questrade is positioned at #34. These rankings highlight Plus500's superior user experience and enhanced functionalities. Despite the differences, both platforms offer valuable tools for users looking to manage and execute trades via their smartphones efficiently.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 110 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Plus500 and Questrade for market research services, both platforms offer distinct advantages. Plus500 provides daily market commentary, giving users timely insights into market movements, whereas Questrade does not. While neither broker offers forex news from top-tier sources like Bloomberg or Reuters, both integrate technical analysis tools from Trading Central, helping traders make informed decisions. However, Plus500 also includes a sentiment-based trading tool that tracks long and short positions, a feature Questrade lacks. Both brokers supply users with economic calendars to keep track of significant global economic events.
Diving deeper into the research tools provided, Plus500 holds an edge with a research rating of 4.0 stars compared to Questrade's 3.5 stars. Despite the absence of tools from companies like Autochartist and TipRanks, Plus500 secures a higher ranking, placing 19th in research out of 62 brokers, while Questrade stands at 51st according to ForexBrokers.com. Those looking for technical tools backed by Autochartist will find them with Questrade but might miss the sentiment analysis available with Plus500. Ultimately, Plus500 offers a slightly broader range of research features, making it a compelling choice for traders focused on obtaining varied market insights.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | No | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginner traders, both Plus500 and Questrade provide offerings that cater to those looking to understand forex or CFDs. Both brokers supply over 10 educational pieces, such as articles and videos, focusing on these trading types. Plus500 stands out by hosting online educational webinars monthly, a feature that Questrade does not currently offer. Both brokers maintain a searchable archive of past webinars, ensuring traders have access to a wealth of knowledge at their fingertips.
Plus500 also provides extensive video content, with at least 10 beginner-focused videos and a similar selection for advanced traders, whereas Questrade covers beginner topics but lacks advanced video material. Neither Plus500 nor Questrade offers an investor dictionary containing at least 50 investing term definitions. Overall, Plus500 is rated slightly higher for education with 4.0 stars, ranking 31st among 62 brokers, compared to Questrade's 3.5 stars, ranking 36th. This reflects Plus500's broader range of educational resources, especially for those just starting their trading journey.
| Feature |
Plus500
|
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) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Plus500 is better than Questrade. Plus500 finished with an overall rank of #14, while Questrade finished with an overall rank of #32.
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to a thorough selection of CFDs. Share trading is available, but only via its Plus500 Invest product offering.
| Feature |
Plus500
|
Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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Both Plus500 and Questrade allow investors to trade cryptocurrency derivatives but do not offer the option to purchase actual, delivered cryptocurrency.
In comparing online brokers Plus500 and Questrade, both support Visa, Mastercard, and bank wire transactions for funding accounts, but Plus500 offers additional flexibility with PayPal and Skrill, which are not available with Questrade; neither broker facilitates ACH or SEPA transfers.
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 | Plus500 | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Plus500 Review | Questrade Review |
| Broker Screenshots | Plus500 | Questrade | |
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| Regulation | Plus500 | Questrade | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 2008 | 2000 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 6 | 2 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | Plus500 | 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) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Plus500 | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | 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 | Plus500 | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 641 | |
| Forex Pairs (Total) | 65 | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
| Cost | Plus500 | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.5 | N/A | |
| All-in Cost EUR/USD - Active | 1.5 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | Plus500 | Questrade | |
|---|---|---|---|
| Minimum Deposit | €100 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Plus500 | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | Plus500 | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 10 | 52 | |
| Charting - Indicators / Studies (Total) | 114 | 64 | |
| Charting - Drawing Tools (Total) | 22 | 20 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Plus500 | 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 | 110 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Plus500 | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Plus500 | 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) | No | No |
| Major Forex Pairs | Plus500 | 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 | Plus500 Review | Questrade Review |
| Overall | Plus500 | Questrade | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Plus500 Review | Questrade Review |
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