Written by ForexBrokers.com
In this head to head comparison of ThinkMarkets 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.
Founded in 2010, ThinkMarkets is an online broker that emphasizes safety and reliability, boasting a Trust Score of 92 out of 99 from ForexBrokers.com, which places it in the "highly trusted" category. This strong endorsement is supported by its five Tier-1 licenses and two Tier-2 licenses, confirming the broker's adherence to strict regulatory standards. ThinkMarkets is privately owned and operates outside of the banking framework, allowing it to focus solely on providing exceptional trading services to its global clientele.
Questrade, established in 2000, presents a solid option for online trading, with a Trust Score of 86 from ForexBrokers.com, marking it as "trusted." While not publicly traded or operating as a bank, Questrade holds two Tier-1 licenses, ensuring a sound regulatory foundation. It may lack Tier-2 licenses, but its long-standing presence in the financial market reflects a commitment to trustworthy service. Both brokers cater to traders seeking dependable platforms without the complexities of bank-linked operations.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Year Founded | 2010 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
When comparing ThinkMarkets and Questrade regarding commissions and fees, ThinkMarkets appears to be the more cost-effective option based on available data. Although average spread data for ThinkMarkets is not available, the broker has earned a respectable 4-star rating from users, placing it at the 48th position in the Commissions and Fees category out of 62 brokers reviewed by ForexBrokers.com.
In contrast, Questrade has a 3-star rating for commissions and fees, which might be attributed to its higher target spreads. For example, Questrade's target spread on the popular EUR/USD currency pair is quoted at 1.9 pips, which is relatively steep when compared to the industry average. As a result, Questrade ranks lower in the Commissions and Fees category, holding the 57th spot out of 62 brokers.
Overall, if minimizing trading costs is a priority, ThinkMarkets may be the preferable option based on its higher rating and better ranking. In terms of fees, it shows a stronger standing compared to Questrade, which has slightly higher costs due to its spread rates.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Minimum Deposit | $50 | $250 |
| Average Spread EUR/USD - Standard | 1.1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
When comparing ThinkMarkets and Questrade for their variety of investment options, both platforms demonstrate strengths in different areas. ThinkMarkets offers a broad selection with about 4,000 tradable symbols, including 46 forex pairs available as CFDs. Although it doesn't support the purchase of U.S. exchange-traded securities like Apple shares, it does allow investments in international shares such as those from the London Stock Exchange. ThinkMarkets also includes copy trading features, which can be advantageous for investors keen on mirroring experienced traders' strategies.
Conversely, Questrade excels with a diverse array of 641 tradable symbols and access to 110 forex pairs as CFDs, highlighting a strong presence in forex trading. A standout feature is its support for buying U.S. exchange-traded securities, providing a wider spectrum of equity options for investors. While Questrade does not offer copy trading, both platforms allow for trading cryptocurrency derivatives but not the actual cryptocurrencies. Questrade earns a five-star rating for its range of investments, ranking #11 out of 62 brokers, compared to ThinkMarkets' 4.5 star rating and #21 ranking, reflecting its broader investment capabilities.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 641 |
| Forex Pairs (Total) | 46 | 110 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | 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.
ThinkMarkets and Questrade both offer a variety of trading platforms and tools designed to meet the needs of diverse traders. For those interested in simulated trading, both brokers provide free virtual demo accounts. Each has developed a proprietary platform, and both offer Windows-based desktop and web-based platforms. However, ThinkMarkets sets itself apart by offering support for MetaTrader 4 and MetaTrader 5, which Questrade does not. Copy trading is available through ThinkMarkets, but Questrade counters with DupliTrade, giving traders alternative options to suit their investment strategies.
When it comes to charting capabilities, Questrade offers 20 drawing tools compared to ThinkMarkets’ 15, which might be appealing to those who rely heavily on technical analysis. Both platforms allow trading directly from stock charts, enhancing the trading experience. In terms of features for watch lists, Questrade provides a more robust selection with 52 fields compared to ThinkMarkets' 15, offering a more customizable experience. Despite these differences, both brokers receive four-star ratings for their trading platforms and tools. According to ForexBrokers.com rankings, ThinkMarkets is slightly ahead at #27, while Questrade is ranked #34 out of 62 brokers.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 64 |
| Charting - Drawing Tools (Total) | 15 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 15 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of ThinkMarkets and Questrade, both brokers provide apps for iPhone and Android devices. Users of either app can set stock or forex price alerts, draw trendlines on charts, and view multiple time frames like daily, weekly, or intraday. Both also offer the ability to create watchlists with real-time quotes, and any drawings on charts are automatically saved. However, a key difference lies in their watchlist management; Questrade syncs watchlist symbols between the mobile app and online accounts, while ThinkMarkets does not offer this syncing capability.
Looking at technical capabilities, ThinkMarkets stands out with 94 technical studies for charting in its mobile app, compared to Questrade's 64. Both apps are well-rated, each receiving a 4-star rating for their mobile trading experience. In terms of rankings by ForexBrokers.com, ThinkMarkets holds a higher position, coming in at #20 out of 62 brokers, while Questrade is ranked at #34. Together, these details can help users decide which mobile app might better suit their trading needs.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 94 | 64 |
| 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 ThinkMarkets and Questrade in terms of market research, there are notable differences tailored to different types of traders. ThinkMarkets stands out by offering daily market commentary and forex news from leading sources like Bloomberg and Reuters, helping investors stay updated with the latest market developments. They also provide a sentiment-based trading tool that gives insight into long and short positions across various currency pairs. Additionally, ThinkMarkets users benefit from Acuity Trading’s tools and have access to a global economic calendar to track upcoming news events. However, Questrade differentiates itself by offering powerful technical analysis tools from Autochartist and Trading Central, as well as market research from TipRanks. Both platforms provide an economic calendar, ensuring users are informed of global financial events.
In terms of research ratings, ThinkMarkets and Questrade are evenly matched with both receiving 3.5 stars. Despite their shared rating, ThinkMarkets is slightly ahead, ranked at #50 compared to Questrade's #51 out of 62 brokers by ForexBrokers.com. This comparison suggests that while ThinkMarkets might appeal to those prioritizing daily insights and forex news, Questrade is more suitable for those seeking in-depth technical analysis tools and research from reputable providers. Depending on your trading strategy, one platform may offer the features that better align with your investment style.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both ThinkMarkets and Questrade provide a substantial library of content centered on forex and CFDs, meeting the needs of those seeking at least ten educational pieces such as articles, videos, and archived webinars. Where ThinkMarkets stands out is in its offering of monthly live webinars to clients, a feature that Questrade lacks, as well as a comprehensive archive of previously recorded webinars readily accessible to users. This makes it easy for learners to revisit valuable content at any time. For those more advanced in their trading journey, ThinkMarkets takes the lead with a collection of advanced educational videos, while Questrade focuses only on beginner content in this format.
ThinkMarkets also goes a step further by including an investor dictionary, comprising over 50 investing terms, providing an added benefit for those new to the world of trading. Despite these additional resources, both ThinkMarkets and Questrade are rated equally with a 3.5-star rating for their educational offerings. Interestingly, this equality in the star rating doesn't reflect in their rankings among 62 brokers, with ThinkMarkets positioned at #52, while Questrade is ranked higher at #36 according to ForexBrokers.com. This suggests that while both platforms offer valuable educational content, prospective traders should consider which specific resources align with their learning needs when choosing between the two.
| Feature |
ThinkMarkets
|
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) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that ThinkMarkets is better than Questrade. ThinkMarkets finished with an overall rank of #27, while Questrade finished with an overall rank of #32.
ThinkMarkets has multiple regulatory license and offers a proprietary trading platform, as well as the entire MetaTrader suite. The broker has made progress in key areas, such as research and education, and the range of markets available, although trails behind the best brokers in these categories.
| Feature |
ThinkMarkets
|
Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 86 |
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Both ThinkMarkets and Questrade do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
When comparing online brokers ThinkMarkets and Questrade, neither offers ACH or SEPA transfers, both lack PayPal as a deposit or withdrawal option, ThinkMarkets supports Skrill while Questrade does not, and both platforms accept Visa, Mastercard, and bank wire transactions for managing account funds.
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 | ThinkMarkets | Questrade | |
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| Trust Score | 92 | 86 | |
| Winner | check_circle | ||
| Review | Questrade Review |
| Broker Screenshots | ThinkMarkets | Questrade | |
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| Regulation | ThinkMarkets | Questrade | |
|---|---|---|---|
| Trust Score | 92 | 86 | |
| Year Founded | 2010 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | ThinkMarkets | 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) | No | 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) | ThinkMarkets | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | 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 | ThinkMarkets | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4000 | 641 | |
| Forex Pairs (Total) | 46 | 110 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | 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 | ThinkMarkets | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | ThinkMarkets | Questrade | |
|---|---|---|---|
| Minimum Deposit | $50 | $250 | |
| PayPal (Deposit/Withdraw) | No | 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 | ThinkMarkets | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | ThinkMarkets | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 15 | 52 | |
| Charting - Indicators / Studies (Total) | 30 | 64 | |
| Charting - Drawing Tools (Total) | 15 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | ThinkMarkets | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 94 | 64 | |
| 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 | ThinkMarkets | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | 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) | Yes | No |
| Major Forex Pairs | ThinkMarkets | 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 | Questrade Review |
| Overall | ThinkMarkets | Questrade | |
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| Trust Score | 92 | 86 | |
| Winner | check_circle | ||
| Review | Questrade Review |
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