Written by ForexBrokers.com
In this head to head comparison of Questrade vs Spreadex, 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 and Spreadex, both non-publicly traded companies without bank status, offer unique strengths for online trading enthusiasts. Established in 2000, Questrade holds two Tier-1 licenses, signaling a high level of trust according to ForexBrokers.com standards. This regulatory backing contributes to its Trust Score of 86, making it a reliable choice for investors. Conversely, Spreadex, founded in 1999, maintains one Tier-1 license and achieves a Trust Score of 71. Although rated as an average risk, Spreadex offers its own allure for users seeking alternative trading experiences.
While neither Questrade nor Spreadex holds Tier-2 licenses, both platforms ensure a secure environment within their regulatory frameworks. Prospective investors might favor Questrade for its higher trust rating and dual Tier-1 licenses, enhancing its credibility. However, Spreadex stands as a viable option for those who value its distinctive features, supported by respectable regulatory compliance. This detailed comparison assists users in making informed decisions when selecting an online broker, balancing trust scores and regulatory credentials.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Year Founded | 2000 | 1999 |
| 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 | 0 |
When comparing online brokers like Questrade and Spreadex, understanding their commissions and fees is crucial for making an informed decision. Questrade's target spread for trading EUR/USD is 1.9 pips, which is considered high compared to the industry average. This results in a more costly trading experience for investors. Due to this fee structure, Questrade has earned a 3-star rating for its commissions and fees and is ranked #57 out of 62 brokers by ForexBrokers.com in this category.
On the other hand, Spreadex offers a more competitive pricing model. In January 2024, the average spread for EUR/USD trading at Spreadex was 0.81 pips, with a minimum spread of 0.6 pips available for 60% of the month. This lower cost structure allows Spreadex to provide a more affordable option for traders. Reflecting its competitive fees, Spreadex has received a higher 4-star rating and is ranked #30 out of 62 brokers by ForexBrokers.com.
In summary, Spreadex stands out for offering lower trading costs compared to Questrade, making it a preferable choice for budget-conscious traders. With better rates and a higher ranking, Spreadex positions itself as a more cost-effective alternative in the online brokerage landscape.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $250 | $0 |
| Average Spread EUR/USD - Standard | N/A | 0.81 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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 Questrade and Spreadex for investment options, both platforms offer Forex trading through CFDs and spot contracts. Questrade provides access to 641 tradeable symbols, including 110 forex pairs, while Spreadex boasts a larger variety with 10,000 symbols, although it offers fewer forex pairs at 52. A standout feature for Questrade is its ability to trade exchange-traded securities on both U.S. and international exchanges, such as shares of Apple on NASDAQ and Vodafone on the London Stock Exchange. In contrast, Spreadex does not offer exchange-traded securities on U.S. or international exchanges.
For those interested in cryptocurrency derivatives, both Questrade and Spreadex offer this option, though neither platform allows the purchase of actual cryptocurrencies. Copy trading is also unavailable on both platforms. Despite the differences in their offerings, both brokers have been rated five stars for their range of investments. According to ForexBrokers.com, Questrade holds a slightly higher ranking at #11, compared to Spreadex at #13, among 62 brokers. This comparison highlights how each broker caters to different investor needs through diverse options and global market access.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 10000 |
| Forex Pairs (Total) | 110 | 52 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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 comparing Questrade and Spreadex in terms of their trading platforms and tools, both brokers provide unique offerings tailored for different trading needs. Questrade shines by offering a simulated trading experience through a free virtual demo account, which can be particularly beneficial for new traders looking to practice strategies without financial risk. Both brokers provide proprietary platforms developed in-house, but Questrade offers the added advantage of a Windows-based desktop download option, catering to traders who prefer a dedicated application. While both platforms offer web-based trading, neither supports MetaTrader 4 or 5, or copy trading, though Questrade does provide DupliTrade for those looking to automate their strategies.
Charting tools are an essential part of any trading platform, and here, Questrade stands out with 20 drawing tools compared to Spreadex's 11. Trading directly from a stock chart is possible with both brokers, enhancing the trading experience by adding convenience and speed. Watchlist customization is more extensive with Questrade, allowing up to 52 columns, far surpassing Spreadex’s 8. Despite these differences, both are competitively rated with 4 out of 5 stars for their platforms and tools. However, Questrade ranks higher at #34 compared to Spreadex's #46, according to ForexBrokers.com, which may suggest a slightly more comprehensive offering to fit diverse trading requirements.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 55 |
| Charting - Drawing Tools (Total) | 20 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 8 |
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When it comes to mobile trading apps, both Questrade and Spreadex offer applications compatible with iPhone and Android devices, making them easily accessible for traders on the go. Traders using either app can receive stock or forex price alerts, which is a convenient feature for staying updated on the market movements. However, Questrade provides an advantage with the ability for watchlist symbol syncing, ensuring that any changes made within their mobile app reflect on the client's online account. This is particularly beneficial for those who frequently update their watchlists. Although both platforms allow drawing trendlines and viewing multiple time frames on charts, Questrade stands out by offering 64 technical studies for charting, whereas Spreadex does not specify its offerings. Furthermore, Questrade ensures ease of use by auto-saving drawings on charts, a feature absent in Spreadex's app.
Both Questrade and Spreadex allow users to create watchlists with real-time quotes, enhancing trade precision. When it comes to user ratings, both platforms score a solid 4 out of 5 stars for their mobile trading apps, indicative of a reliable user experience. However, in the rankings by ForexBrokers.com, Questrade holds a stronger position, coming in at #34 out of 62 brokers, while Spreadex ranks #49. Overall, while Spreadex offers essential features for any mobile trader, Questrade provides additional functionalities that may appeal to those seeking a more integrated and comprehensive mobile trading experience.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings, Questrade and Spreadex cater to different needs. Spreadex excels in providing daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, which can be invaluable for traders who rely on timely updates. In contrast, Questrade falls short in these aspects but compensates with specialized tools such as Autochartist and Trading Central for technical and fundamental analysis. Both firms offer an economic calendar, but only Spreadex provides a sentiment-based trading tool to gauge market positions.
In terms of market research ratings, Spreadex enjoys a higher rating with four out of five stars, while Questrade holds a respectable 3.5 stars. From a competitive perspective, Spreadex ranks 31st out of 62 brokers in ForexBrokers.com’s Research category, significantly ahead of Questrade, which is placed at 51st. This highlights Spreadex’s comprehensive research offerings, which appeal to traders seeking more in-depth market insight, whereas Questrade users might benefit more from its technical analysis tools provided by companies like TipRanks and Trading Central.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners provided by Questrade and Spreadex, both online brokers offer a solid start with more than 10 pieces on forex and CFDs education, including articles, videos, and archived webinars. However, neither broker offers monthly live educational webinars for their clients. Where Questrade pulls ahead is through its searchable archive of previously recorded webinars, allowing traders to learn at their own pace. Both platforms cater to novices with over 10 beginner-focused trading videos, contributing to their educational offerings.
Spreadex, however, diversifies its educational resources by offering an investor dictionary that covers definitions of more than 50 investing terms, a feature not available with Questrade. Advanced traders might find limited material as neither broker provides 10 or more videos for experienced traders. Overall, Spreadex edges out Questrade slightly with a 4-star education rating, compared to Questrade's 3.5 stars. Interestingly, Questrade is ranked 36th, ahead of Spreadex, which is ranked 45th by ForexBrokers.com in the education category among 62 brokers surveyed.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| 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 Spreadex. Questrade finished with an overall rank of #32, while Spreadex finished with an overall rank of #39.
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
|
Spreadex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 71 |
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Both Questrade and Spreadex do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to invest in cryptocurrency derivatives.
Both Questrade and Spreadex provide options for depositing and withdrawing account funds via Visa, Mastercard, and bank wires, but neither supports ACH, SEPA, PayPal, or Skrill transactions.
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 | Spreadex | |
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| Trust Score | 86 | 71 | |
| Winner | check_circle | ||
| Review | Questrade Review | Spreadex Review |
| Broker Screenshots | Questrade | Spreadex | |
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| Regulation | Questrade | Spreadex | |
|---|---|---|---|
| Trust Score | 86 | 71 | |
| Year Founded | 2000 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Questrade | Spreadex | |
|---|---|---|---|
| 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 | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Questrade | Spreadex | |
|---|---|---|---|
| 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 | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 10000 | |
| Forex Pairs (Total) | 110 | 52 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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 | Questrade | Spreadex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 0.81 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $250 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Questrade | Spreadex | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 8 | |
| Charting - Indicators / Studies (Total) | 64 | 55 | |
| Charting - Drawing Tools (Total) | 20 | 11 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | Spreadex | |
|---|---|---|---|
| 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 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Questrade | Spreadex | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | Spreadex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Questrade | Spreadex | |
|---|---|---|---|
| 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 | Spreadex Review |
| Overall | Questrade | Spreadex | |
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| Trust Score | 86 | 71 | |
| Winner | check_circle | ||
| Review | Questrade Review | Spreadex Review |
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