Written by ForexBrokers.com
In this head to head comparison of XM Group vs Questrade, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Comparing online brokers XM Group and Questrade: XM Group launched in 2009, while Questrade began in 2000. Neither company is publicly traded or operates as a bank, which makes their regulatory strength and transparency especially important for investors researching where to open an account.
XM Group holds 4 Tier-1 licenses and 3 Tier-2 licenses, versus Questrade’s 1 Tier-1 license and 0 Tier-2 licenses. According to ForexBrokers.com, XM Group’s Trust Score is 93 out of 99, which is considered highly trusted (90–99), while Questrade’s Trust Score is 85, considered trusted (80–89). These ratings reflect how regulators oversee each broker and can help you gauge overall safety and oversight when choosing between them.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Year Founded | 2009 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
XM Group and Questrade are both rated 3.5 out of 5 stars for commissions and fees, but their pricing models are quite different. XM Group’s Standard account has spreads that are considered expensive, and average spreads for its commission-based XM Zero account are not published, which makes it harder to compare true trading costs upfront. In ForexBrokers.com’s Commissions and Fees category, XM Group ranks #34 out of 36 brokers.
Questrade is also rated 3.5 out of 5 stars and ranks #33 out of 36, just one place ahead of XM Group. Questrade Global uses a spread-only model, so there is no separate commission on forex trades; instead, the cost is built into the bid-ask spread. Questrade says spreads can be as low as 0.8 pips in normal market conditions, but real-world average spreads for major currency pairs were closer to 2.1 to 2.5 pips, which can make trading more expensive than it first appears.
For CFDs, Questrade adds a $9.95 USD trading fee per unit on top of the spread, and overnight financing costs can also apply, so costs can rise quickly. In short, both brokers score the same on fees, but Questrade’s pricing is more transparent than XM Group’s, while XM Group’s lack of published average spreads for XM Zero makes side-by-side cost checks difficult.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Minimum Deposit | $5 | $0 |
| Average spread (EUR/USD) - Standard account | 2 | 0.8 or higher |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
XM Group and Questrade both support forex trading, but they differ a lot in the range of markets they give access to. XM Group lists 1,429 tradeable symbols and 55 forex pairs, while Questrade offers 675 tradeable symbols but a wider selection of 110 forex pairs. XM Group also lets clients trade exchange-traded securities on both U.S. and international exchanges, so investors can buy real shares such as U.S. stocks and overseas listings. Questrade does not offer exchange-traded securities on either U.S. or international exchanges in this comparison.
XM Group also stands out for copy trading and for offering cryptocurrency CFDs, although it does not support buying actual cryptocurrency. Questrade also does not offer actual crypto, and it does not provide crypto CFDs either. Even so, Questrade earns a higher Range of Investments score overall, with 5 stars and a ForexBrokers.com ranking of #12 out of 36 brokers, compared with XM Group’s 4.5 stars and #19 ranking.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1429 | 675 |
| Forex Pairs (Total) | 55 | 110 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | No |
| 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.
XM Group and Questrade both give traders a choice of a free demo account, plus web-based and Windows desktop platforms, so either broker can work for people who want to practice first or trade from a browser or computer. Both also let users place trades directly from charts, and each has a 4-star rating for trading platforms and tools, with XM Group ranked slightly higher at #27 out of 36 brokers compared with Questrade at #28.
The biggest difference is that XM Group supports copy trading and offers MetaTrader 4 and MetaTrader 5, which may appeal to traders who want popular third-party platforms and social trading features. Questrade, on the other hand, offers a proprietary in-house platform, while XM Group does not. In short, XM Group may be the better fit for MT4/MT5 and copy trading fans, while Questrade stands out for traders who want a broker-built platform.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
XM Group and Questrade both offer mobile trading apps for iPhone and Android, along with stock and forex price alerts, watchlist symbol syncing, and the ability to draw trendlines on charts. For everyday use, both apps cover the basics well, making it easy to monitor markets and manage watchlists from a phone. XM Group’s mobile app is rated 4 out of 5 stars for mobile trading apps and ranks #26 out of 36 brokers at ForexBrokers.com, while Questrade is rated 3.5 out of 5 stars and ranks #28 out of 36.
The main difference is charting tools and drawing storage. XM Group offers 30 technical studies in its mobile app, while Questrade provides 64, giving Questrade more chart indicators to choose from. On the other hand, Questrade automatically saves chart drawings, while XM Group does not. So, if you want more technical studies, Questrade has the edge, but if you prefer a slightly higher mobile app rating and a bit better overall ranking, XM Group has the advantage.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing XM Group vs Questrade for market research, XM Group comes out ahead overall. XM Group offers daily market commentary, forex news from top sources like Bloomberg and Reuters, Trading Central tools, a sentiment-based trading tool, and an economic calendar with upcoming global events. It does not offer Autochartist or TipRanks, but its research lineup still earns it a 5-star Research rating and an #8 ranking out of 36 brokers from ForexBrokers.com.
Questrade has some useful research features too, including Autochartist, Trading Central, and TipRanks, but it does not provide daily market commentary, top-tier forex news, a sentiment tool, or an economic calendar. As a result, its market research offering is more limited than XM Group’s, with a 3.5-star Research rating and a #34 ranking out of 36 brokers. For traders who want more built-in market insights and news, XM Group is the stronger choice.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
When it comes to beginner-friendly learning tools, XM Group has a clear edge over Questrade. XM Group offers forex and CFDs education, plus live online client webinars at least once a month, along with 10+ beginner videos and 10+ advanced videos for traders who want to keep learning. Questrade does not meet the same level of educational coverage in these areas, so newcomers looking for more guided, trading-focused content may find XM Group easier to start with.
The rating and ranking data tell the same story. XM Group is rated 5 stars for Education and ranks #5 out of 36 brokers in ForexBrokers.com’s Education category, while Questrade is rated 3.5 stars and ranks #28. For beginners comparing online brokers, XM Group appears to offer a broader selection of forex and CFD learning resources, more video content, and more regular webinars than Questrade.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that XM Group is better than Questrade. XM Group finished with an overall rank of #16, while Questrade finished with an overall rank of #29.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
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Questrade
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|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 85 |
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XM Group vs Questrade: neither broker lets you buy actual (delivered) cryptocurrency, but XM Group offers cryptocurrency CFDs while Questrade does not.
Comparing online brokers XM Group and Questrade for deposit and withdrawal funding methods: neither supports ACH or SEPA transfers or PayPal; XM Group supports Skrill while Questrade does not; both offer bank wire transfers; Visa/Mastercard availability is not specified for either.
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 | XM Group | Questrade | |
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| Trust Score | 93 | 85 | |
| Winner | check_circle | ||
| Review | XM Group Review | Questrade Review |
| Broker Screenshots | XM Group | Questrade | |
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| Regulation | XM Group | Questrade | |
|---|---|---|---|
| Trust Score | 93 | 85 | |
| Year Founded | 2009 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | XM Group | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | 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). | Yes | No |
| Tier-2 Licenses (Trusted) | XM Group | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | XM Group | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1429 | 675 | |
| Forex Pairs (Total) | 55 | 110 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | No | |
| 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 | XM Group | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 2 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | XM Group | Questrade | |
|---|---|---|---|
| Minimum Deposit | $5 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | XM Group | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | XM Group | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | XM Group | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | XM Group | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | XM Group | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | XM Group | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | XM Group Review | Questrade Review |
| Overall | XM Group | Questrade | |
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| Trust Score | 93 | 85 | |
| Winner | check_circle | ||
| Review | XM Group Review | Questrade Review |
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