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 |
In the realm of online brokerage, Questrade's commissions and fees might not be the most attractive for traders seeking low-cost options. With a steep target spread of 1.9 pips on the EUR/USD currency pair, Questrade falls above the industry average, potentially impacting cost-conscious traders. As a result, Questrade's commission and fees receive a rating of 3 out of 5 stars and are placed at 57th out of 62 brokers according to ForexBrokers.com rankings.
Conversely, Spreadex offers a more cost-efficient structure for traders. In January 2024, Spreadex achieved an average spread of just 0.81 pips on the EUR/USD, with notably tight spreads reaching a minimum of 0.6 pips 60% of the time during the month. This focus on narrower spreads contributes to its better position, earning Spreadex a 4 out of 5-star rating for commissions and fees and placing it at 27th among 62 brokers as per ForexBrokers.com.
| 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 it comes to trading platforms, both Questrade and Spreadex offer a solid set of options for traders. Questrade and Spreadex both provide simulated trading with free virtual demo accounts, allowing users to practice their strategies risk-free. Each broker has developed its own proprietary platform, but only Questrade offers a Windows-based desktop download, while both provide web-based trading. Neither supports popular platforms like MetaTrader 4 or 5. However, Questrade stands out by offering DupliTrade, which Spreadex does not. Both brokers refrain from offering copy trading or ZuluTrade, allowing traders to focus on their own strategies.
For chart enthusiasts, Questrade supplies 20 drawing tools compared to Spreadex's 11. Both platforms allow for direct trading from stock charts, but Questrade offers more customization with 52 columns for watch lists compared to Spreadex’s 8. Both brokers receive a commendable 4-star rating for their trading platforms and tools. However, ForexBrokers.com ranks Questrade higher at #34 out of 62 brokers, while Spreadex is positioned at #46. This highlights Questrade’s slightly more comprehensive offerings, especially for traders who value a combination of desktop and web accessibility along with advanced charting tools.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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 | 58 |
| Charting - Drawing Tools (Total) | 20 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 8 |
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Questrade and Spreadex both provide mobile trading apps for iPhone and Android, allowing investors to trade on the go. Both platforms offer important features like stock and forex price alerts and the ability to draw trendlines on charts. For those who like to customize their trading view, both apps support multiple time frame views on charts. However, Questrade has a distinct edge when it comes to syncing watchlists between mobile and online accounts, as Spreadex lacks this ability.
Regarding charting capabilities, Questrade offers a whopping 64 technical studies to aid in market analysis, while Spreadex hasn’t specified this feature. Adding to the investment experience, Questrade's app automatically saves chart drawings, whereas Spreadex does not. Both apps let users create watchlists with real-time quotes. Rated 4 stars for mobile trading, Questrade ranks #34 out of 62 brokers according to ForexBrokers.com, higher than Spreadex, which sits at #46. These differences make Questrade a slightly more appealing option for those eager for detailed charting and account syncing features.
| 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 comparing Questrade and Spreadex on market research offerings, several differences emerge. Spreadex shines with its daily market commentary and access to top-tier forex news providers like Bloomberg and Reuters, features that are notably absent from Questrade. Both platforms provide technical analysis tools from Autochartist, but while Questrade extends its offerings with Trading Central's analysis tools and market insights from TipRanks, Spreadex lacks these specific resources. Additionally, Spreadex offers a sentiment-based trading tool for currency pairs, providing valuable insights into trading positions, which Questrade does not offer.
Both Questrade and Spreadex include economic calendars to keep traders informed of global financial news. However, these differences in research tools contribute to Spreadex's higher rating of 4 stars for research, ranked 31st among 62 brokers by ForexBrokers.com. In contrast, Questrade scores 3.5 stars and ranks 51st in the same category. These distinctions highlight Spreadex as the more well-rounded option for market research, particularly for traders seeking comprehensive daily news and analysis tools.
| Feature |
Questrade
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | Yes |
| 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 | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 8 | |
| Charting - Indicators / Studies (Total) | 64 | 58 | |
| 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 | Yes | |
| 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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