Written by ForexBrokers.com
In this head to head comparison of Questrade vs RoboForex, 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.
Questrade, established in 2000, is a Canadian online broker renowned for its investment services. Not listed on any stock exchange and not functioning as a bank, Questrade has nonetheless earned a commendable position in the realm of online trading. Holding two Tier-1 licenses, Questrade achieves a solid Trust Score of 86 out of 99 from ForexBrokers.com, categorizing it as a trusted broker. This level of trust reflects its regulatory compliance and commitment to offering secure trading opportunities.
On the other hand, RoboForex, which entered the market in 2009, offers a variety of trading services. Like Questrade, it neither trades publicly nor operates as a bank. RoboForex holds one Tier-1 license, and with a Trust Score of 73 according to ForexBrokers.com, it is regarded as having an average risk level. This makes RoboForex a viable choice for those who appreciate competitive trading conditions balanced with moderate regulatory assurance.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Year Founded | 2000 | 2009 |
| 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 | 0 | 2 |
When it comes to comparing commissions and fees, Questrade and RoboForex each have their own strengths and weaknesses. Questrade's target spreads for the popular EUR/USD currency pair are set at 1.9 pips, which is considered steep relative to the industry average. As a result, Questrade has earned a rating of 3 out of 5 stars, and ranks #57 out of 62 brokers in this category according to ForexBrokers.com.
On the other hand, RoboForex offers average spreads of 1.3 pips for the EUR/USD pair on both its Procent and Pro accounts. While these spreads are also above average, they are still more competitive than Questrade's. This performance earns RoboForex a slightly better rating of 3.5 out of 5 stars. Despite this advantage, RoboForex is ranked #54 out of 62 brokers in the Commissions and Fees category by ForexBrokers.com, showing room for improvement in its fees structure.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Minimum Deposit | $250 | $100 |
| Average Spread EUR/USD - Standard | N/A | 1.3 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| 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 Questrade and RoboForex, both platforms excel in different areas of investment offerings, providing traders with diverse options to suit their financial goals. Questrade features 641 tradeable symbols, including an impressive 110 forex pairs, allowing traders to delve into currency markets with confidence. Additionally, Questrade offers access to exchange-traded securities on both U.S. and international exchanges, making it a strong choice for those keen on investing in companies like Apple or Vodafone. Furthermore, Questrade delivers cryptocurrency derivatives, catering to traders looking to diversify their portfolios without holding the actual cryptocurrency. Although Questrade does not offer copy trading, its robust range of investments earns it a five-star rating from ForexBrokers.com, ranking 11th out of 62 brokers.
Conversely, RoboForex shines in sheer quantity, presenting traders with an extensive portfolio of 8,400 tradeable symbols, surpassing Questrade's offerings. While RoboForex provides 28 tradeable forex pairs, its unique selling point lies in the inclusion of copy trading, an attractive feature for those who wish to mirror the strategies of successful traders. RoboForex also supports trading in forex as CFDs and provides cryptocurrency derivatives similar to Questrade. However, it lacks the option for purchasing exchange-traded securities on U.S. or international markets. Despite this limitation, its comprehensive range of available investments garners a 4.5-star rating from ForexBrokers.com, earning a respectable 20th rank among 62 brokers.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 8400 |
| Forex Pairs (Total) | 110 | 28 |
| 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.
Questrade and RoboForex both cater to traders with diverse needs, but they do so in slightly different ways. Questrade shines with its in-house developed platform, offering flexibility and control with a Windows-based desktop platform, a web-based platform, and a virtual demo account for simulated trading. It also includes DupliTrade, allowing users an enhanced trading experience, although it falls short with features like MetaTrader 4 and MetaTrader 5 support. Questrade boasts an impressive 52 fields for watch lists and 20 drawing tools for charting, providing traders with ample resources for detailed market analysis. Additionally, Questrade users can trade directly from stock charts, adding convenience to their trading process.
RoboForex stands out by embracing the widely-used MetaTrader platforms (MT4 and MT5), a draw for traders familiar with these tools. It lacks a proprietary platform but compensates with strong support for copy trading, allowing users to mimic successful trading strategies. RoboForex offers both a downloadable Windows platform and a user-friendly web-based alternative, alongside a demo account for practice. Charting capabilities include 15 drawing tools and the ability to trade directly from stock charts, albeit with fewer watch list fields compared to Questrade. Both brokers are rated four stars for their platforms and tools, demonstrating that each offers unique strengths to meet different trader preferences. Questrade holds a higher ranking by ForexBrokers.com, being #34 compared to RoboForex's #43, indicating a slight edge in overall satisfaction with the trading platforms and tools offered.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| 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 | Yes |
| 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 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Questrade and RoboForex both provide mobile trading apps accessible on iPhone and Android devices, offering essential features like stock and forex price alerts, trendline drawing tools, and multiple time frame views on charts. Questrade gains an edge with its 64 technical studies for charting, compared to RoboForex’s 30, providing users with a broader array of analytical tools. Additionally, Questrade enables watchlist symbol syncing across devices, ensuring seamless updates between the mobile app and the user's online account, a feature that RoboForex lacks.
Both apps allow users to create watchlists with real-time quotes and automatically save chart drawings, which keeps trading strategies intact across sessions. In terms of user ratings, both Questrade and RoboForex enjoy a solid 4-star rating for their mobile apps. However, Questrade ranks 34th out of 62 brokers in the Mobile Trading Apps category by ForexBrokers.com, while RoboForex ranks 43rd, suggesting a slight preference for Questrade among industry evaluators. This comparison highlights that while both brokers offer strong mobile trading platforms, Questrade may provide more comprehensive tools and integration capabilities for traders on the go.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| 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 market research features between Questrade and RoboForex, several differences emerge. RoboForex stands out by offering daily market commentary and forex news from trusted sources like Bloomberg and Reuters, allowing traders to stay updated with the latest market developments. Questrade, on the other hand, doesn't provide these news services but excels in other areas. For instance, Questrade provides technical and fundamental research tools from companies like Autochartist and Trading Central, giving traders access to valuable analysis resources. Both brokers offer an economic calendar to keep track of global news events, aiding informed trading decisions.
While Questrade includes market research from TipRanks, enhancing the depth of its insights, RoboForex offers additional tools from Acuity Trading like Signal Centre, broadening its research support. Despite these differences, both platforms received an equal rating of 3.5 stars for their research services. However, RoboForex holds a higher rank (#37) compared to Questrade (#51) among 62 brokers rated by ForexBrokers.com in the Research category. This indicates a slight edge for RoboForex in terms of overall research offerings according to industry evaluations.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| 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 | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners offered by Questrade and RoboForex, Questrade takes the lead with a broader selection tailored to newcomers. They provide over ten educational pieces focused on forex and CFDs through various media like articles and videos. Additionally, Questrade offers beginners access to a large library of beginner-level trading videos. RoboForex, on the other hand, does not match this level of resources for forex or CFDs education nor do they offer as many beginner-specific videos.
Though neither Questrade nor RoboForex hosts monthly educational webinars or provides a dictionary with investing terms, Questrade does maintain a searchable archive of its past client webinars, providing a convenient resource for self-paced learning. Both platforms received a 3.5-star rating for their educational offerings, but Questrade ranks higher at 36th position compared to RoboForex's 56th spot, indicating a broader appeal and effectiveness in education among a larger pool of brokers according to ForexBrokers.com.
| Feature |
Questrade
|
RoboForex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | 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 Questrade is better than RoboForex. Questrade finished with an overall rank of #32, while RoboForex finished with an overall rank of #46.
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
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RoboForex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 73 |
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Both Questrade and RoboForex do not offer the ability to buy actual delivered cryptocurrency, but they both provide the option to purchase cryptocurrency derivatives.
When comparing online brokers Questrade and RoboForex, it is noteworthy that RoboForex provides a wider range of deposit and withdrawal options, supporting ACH, SEPA, PayPal, and Skrill transactions, in addition to Visa, Mastercard, and bank wires, whereas Questrade is limited to Visa, Mastercard, and bank wire options only.
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 | RoboForex | |
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| Trust Score | 86 | 73 | |
| Winner | check_circle | ||
| Review | Questrade Review | RoboForex Review |
| Broker Screenshots | Questrade | RoboForex | |
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| Regulation | Questrade | RoboForex | |
|---|---|---|---|
| Trust Score | 86 | 73 | |
| Year Founded | 2000 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Questrade | RoboForex | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| 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 | No | |
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 8400 | |
| Forex Pairs (Total) | 110 | 28 | |
| 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 | RoboForex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.3 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | RoboForex | |
|---|---|---|---|
| Minimum Deposit | $250 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | Questrade | RoboForex | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | No |
| Major Forex Pairs | Questrade | RoboForex | |
|---|---|---|---|
| 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 | RoboForex Review |
| Overall | Questrade | RoboForex | |
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| Trust Score | 86 | 73 | |
| Winner | check_circle | ||
| Review | Questrade Review | RoboForex Review |
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