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.
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.
When comparing online brokers XM Group and Questrade, both hold significant trust in the world of trading but show some differences in regulatory credentials. Founded in 2009, XM Group has accumulated a Trust Score of 88 from ForexBrokers.com, marking it as a trusted option with several licenses supporting its credibility. Specifically, XM Group holds four Tier-1 licenses, which denote high trust, and one Tier-2 license, representing a reliable standing. Despite not being publicly traded or part of the banking sector, XM Group maintains a strong regulatory framework.
In comparison, Questrade, established in 2000, holds a ForexBrokers.com Trust Score of 86. While it is also trusted, its regulatory framework includes only two Tier-1 licenses and lacks Tier-2 licenses, presenting a different landscape for prospective users. Like XM Group, Questrade is not publicly traded nor a bank, focusing on providing a secure environment for traders through its regulatory measures. Both brokers offer unique regulatory attributes that cater to various preferences in the market.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Year Founded | 2009 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing XM Group and Questrade for their commissions and fees, XM Group stands out with a better overall rating. XM Group earns 4 stars for its commissions and fees, although it's important to note that the standard account spreads are relatively expensive, and they do not disclose average spreads for their commission-based XM Zero account. Despite these shortcomings, XM Group is ranked #33 out of 62 brokers by ForexBrokers.com in the Commissions and Fees category, indicating a competitive position overall.
On the other hand, Questrade receives a lower rating of 3 stars for its commissions and fees. The target spreads for popular currency pairs, such as 1.9 pips for EUR/USD, are considered steep when compared to industry averages. This higher cost structure reflects in their lower ranking of #57 out of 62 brokers by ForexBrokers.com, suggesting that they may not be the most cost-effective choice for traders who are sensitive to spreads.
In summary, traders focusing on commissions and fees might find XM Group a more favorable option compared to Questrade, given XM Group's higher rating and better ranking. Both brokers have their pros and cons, but XM Group seems to offer a more competitive pricing environment overall. Consider these factors to determine which broker aligns best with your trading needs.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Minimum Deposit | $5 | $250 |
| Average Spread EUR/USD - Standard | 1.6 | N/A |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Active Trader or VIP Discounts | No | 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 the investment options available at XM Group and Questrade, both online brokers offer a wide variety of choices tailored to different trading needs. XM Group provides a vast selection of 1,394 tradable symbols, outpacing Questrade's offering of 641 symbols. However, Questrade excels in foreign exchange options, with 110 forex pairs versus XM Group's 55. Both platforms allow clients to trade on U.S and international exchanges, meaning users can purchase well-known stocks like Apple and Vodafone. Additionally, XM Group stands out by offering copy trading, a feature not available with Questrade, which could appeal to those interested in mirroring the strategies of successful traders.
Despite some differences in features, both XM Group and Questrade support cryptocurrency trading through derivatives, yet neither allows the direct purchase of cryptocurrencies. In terms of user satisfaction, Questrade is highly rated for its range of investments with a 5-star score, leading to a solid 11th place ranking according to ForexBrokers.com, among 62 brokers. XM Group enjoys a respectable 4.5-star rating and is positioned at 23rd for range of investments. Whether prioritizing a multitude of trading symbols or focusing on forex variety and investment tools, these brokers offer comprehensive yet distinct platforms for traders at various skill levels.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1394 | 641 |
| Forex Pairs (Total) | 55 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | 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.
When comparing the trading platforms and tools offered by XM Group and Questrade, both brokers support simulated trading through free virtual demo accounts, making them ideal for beginners and those wishing to hone their skills. XM Group allows users to engage with industry-favorite platforms like MetaTrader 4 and MetaTrader 5, but does not provide a proprietary platform. Questrade, on the other hand, offers a unique trading experience with its proprietary platform, apart from MetaTrader options. Additionally, desktop and web-based platforms are available with both brokers, offering flexible trading environments. While XM Group supports copy trading, Questrade includes access to DupliTrade, lending distinct advantages to each based on user preferences.
In terms of technical charting tools, Questrade outshines XM Group by offering 20 drawing tools compared to XM Group's 15. Also, Questrade provides more customizable watch lists with 52 columns, as opposed to XM Group's 7. Both brokers allow traders to execute trades directly from stock charts, enhancing the trading experience. Despite these differences, both XM Group and Questrade receive a commendable four-star rating for their trading platforms and tools. However, XM Group ranks slightly higher at 30th place on ForexBrokers.com compared to Questrade's 34th. Ultimately, the choice between these brokers may come down to individual preference for specific platform features and tools.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | 7 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of XM Group and Questrade, both offer iPhone and Android applications that allow investors to easily manage their trading activities on the go. Users of both platforms can enjoy price alerts for stocks and forex, ensuring they never miss important market movements. Additionally, XM Group and Questrade enable watchlist symbol syncing, so any changes made in the mobile app or the online account are seamless. For chart enthusiasts, XM Group provides 30 technical studies, while Questrade offers 64, along with the ability to draw trendlines and view various time frames ranging from daily to intraday.
While both apps allow the creation of watchlists with real-time quotes, a key difference is in the auto-saving of chart drawings—Questrade has this feature, whereas XM Group does not. Despite such differences, both XM Group and Questrade received a respectable 4-star rating for their mobile trading apps. In terms of rankings, XM Group stands at #27, slightly ahead of Questrade, which is positioned at #34 among 62 brokers evaluated by ForexBrokers.com. This comparison highlights the strengths of each app, helping users decide which platform best suits their trading style.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research tools and resources between XM Group and Questrade, XM Group stands out with its daily market commentary and access to forex news from well-respected sources like Bloomberg and Reuters. In contrast, Questrade does not offer daily commentary or top-tier forex news coverage. Both brokers provide tools from Trading Central, known for its technical analytics, but Questrade takes the lead with its inclusion of Autochartist tools, offering comprehensive technical analysis options that XM Group lacks. XM Group, however, includes a sentiment-based trading tool, which Questrade does not offer, giving traders insights into long and short positions across various currency pairs.
Both brokers offer economic calendars to keep traders informed of global economic events. Despite some differences in features, XM Group earns a higher research rating with five stars, while Questrade receives a 3.5-star rating. According to ForexBrokers.com, XM Group ranks #8 out of 62 brokers in the Research category, reflecting its strong performance in providing valuable market insights. In comparison, Questrade is positioned at #51, indicating there might be room for improvement in its market research offerings.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners interested in trading, XM Group and Questrade both provide a wealth of materials tailored to different levels of expertise. Both platforms offer over 10 educational pieces, including articles and videos focused on forex and CFDs, which can help demystify these trading subjects for newcomers. However, XM Group takes a step further by offering monthly online educational webinars, a feature Questrade does not provide. Additionally, both brokers maintain a searchable archive of past webinars, ensuring that users can access valuable learning material at their convenience.
For beginner traders seeking video content, both XM Group and Questrade present at least 10 educational videos aimed specifically at novices. Yet, XM Group distinguishes itself with over 10 advanced educational videos for more experienced traders, whereas Questrade doesn't offer this level of advanced content. Neither platform provides an investor dictionary with definitions for investing terms. Reflecting their educational offerings, XM Group is rated 5 stars for education and ranks number 7 out of 62 brokers, while Questrade scores 3.5 stars and ranks number 36 in the same category.
| Feature |
XM Group
|
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) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 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 #17, while Questrade finished with an overall rank of #32.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 88 | 86 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both XM Group and Questrade do not provide the option to purchase actual delivered cryptocurrency, but they both offer the ability to trade cryptocurrency derivatives.
While both XM Group and Questrade do not offer ACH, SEPA, or PayPal for depositing or withdrawing funds, XM Group supports Skrill and both brokers provide options for Visa, Mastercard, and bank wire 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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | XM Group | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 88 | 86 | |
| Winner | check_circle | ||
| Review | XM Group Review | Questrade Review |
| Broker Screenshots | XM Group | Questrade | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | XM Group | Questrade | |
|---|---|---|---|
| Trust Score | 88 | 86 | |
| 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 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | XM Group | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | Yes | |
| 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). | Yes | No |
| Tier-2 Licenses (Trusted) | XM Group | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | XM Group | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1394 | 641 | |
| Forex Pairs (Total) | 55 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | 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 | XM Group | Questrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.6 | N/A | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | XM Group | Questrade | |
|---|---|---|---|
| Minimum Deposit | $5 | $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 | XM Group | Questrade | |
|---|---|---|---|
| Proprietary Platform | No | 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 | XM Group | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 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 | XM Group | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | XM Group | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | XM Group | 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) | No | No |
| Major Forex Pairs | XM Group | 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 | XM Group Review | Questrade Review |
| Overall | XM Group | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 88 | 86 | |
| Winner | check_circle | ||
| Review | XM Group Review | Questrade Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill