Written by ForexBrokers.com
In this head to head comparison of Questrade vs Xtrade, 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, established in 2000, and Xtrade, founded in 2003, are both notable options for online trading, although there are distinct differences in their regulatory standings. Neither company is listed on a stock exchange or operates as a bank. Questrade holds two Tier-1 licenses, which offer a high level of trust and security according to ForexBrokers.com, earning them a Trust Score of 86 out of 99. In comparison, Xtrade has one Tier-1 license and one Tier-2 license, which contributes to a moderate Trust Score of 74.
Both firms provide viable trading opportunities, yet Questrade stands out with its stronger regulatory backing, reflected in its higher Trust Score and additional Tier-1 license. Xtrade, while still presenting a reasonable option, is rated as an average risk due to its standalone Tier-1 and Tier-2 license combination. These factors make Questrade potentially more appealing for those prioritizing regulatory trust and a sense of security in their online trading experience.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Year Founded | 2000 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees of online brokers Questrade and Xtrade, both platforms offer distinct pricing structures. Questrade, which is rated 3 out of 5 stars in this category, is known for its higher-than-average target spreads on common currency pairs such as the EUR/USD, pegged at 1.9 pips. Unfortunately, these spreads are considered steep when compared to the industry averages. Overall, Questrade ranks 57th out of 62 brokers according to ForexBrokers.com for their commissions and fees.
On the other side, Xtrade does not provide average spread data, potentially making it less transparent for traders concerned about understanding exact costs. With a slightly lower star rating of 2.5 out of 5, Xtrade fares less competitively in the market. This is further reflected in its standing, holding the 62nd position out of 62 brokers on ForexBrokers.com in the Commissions and Fees category.
The differences between Questrade and Xtrade in terms of fees demonstrate that while both brokers have certain charges concerning their services, Questrade provides more clarity on what traders can expect, albeit at relatively higher rates. This overview highlights the importance of evaluating not just cost but also the available information when choosing between online brokers.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $250 | $250 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| 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 | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Questrade and Xtrade in terms of their range of investment options, Questrade clearly shines with a broader selection. Questrade offers 641 tradeable symbols, including 110 forex pairs, available both as CFDs and spot contracts. This contrasts with Xtrade, which offers 482 symbols and 56 forex pairs, primarily through CFDs. What sets Questrade further apart is its access to exchange-traded securities on U.S. and international exchanges, allowing investors to purchase shares like Apple and Vodafone. On the other hand, Xtrade does not offer the ability to buy actual securities on these exchanges.
In the area of cryptocurrency derivatives, both platforms allow trading, though neither supports the purchase of actual cryptocurrencies. However, when rated by ForexBrokers.com for their range of investments, Questrade receives a more favorable five-star rating, ranking 11th out of 62 brokers. Meanwhile, Xtrade scores 3.5 stars, ranking 49th. While both lack features such as copy trading, the broader array of investment choices and the ability to buy exchange-traded securities give Questrade a distinct advantage over Xtrade for those seeking a wider range of investment opportunities.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 482 |
| Forex Pairs (Total) | 110 | 56 |
| 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 the trading platforms and tools of Questrade and Xtrade, both brokers offer free virtual demo accounts and have developed their own proprietary platforms. Questrade provides a more versatile experience with both a Windows-based desktop download and a web-based trading platform, while Xtrade only offers a web-based platform. Neither broker supports copy trading or popular third-party platforms like MetaTrader 4 and 5; however, Questrade does offer DupliTrade, whereas Xtrade does not. Additionally, both brokers feature the ability to trade directly from stock charts.
Questrade stands out with a wider selection of watch list fields, offering 52 compared to Xtrade's nine. In terms of drawing tools for charting, Xtrade provides a substantial 100 tools, outstripping Questrade's 20. Overall, Questrade receives a higher rating of four stars for its trading platforms and tools, ranking 34th out of 62 brokers, contrasting with Xtrade’s 3.5-star rating and 58th place ranking. These differences highlight Questrade’s strengths in platform diversity and flexibility, while Xtrade appeals more with its extensive set of charting tools.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| 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 | N/A |
| Charting - Drawing Tools (Total) | 20 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 9 |
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When comparing the mobile trading apps of Questrade and Xtrade, both offer availability for iPhone and Android users, making them accessible for a wide range of traders. However, Questrade stands out in several key areas. It provides stock and forex price alerts and allows for watchlist symbol syncing, so any updates made on the mobile app or online account sync seamlessly. Additionally, Questrade delivers an extensive range of charting tools with 64 technical studies, the ability to draw trendlines, and views in multiple time frames. Another benefit for Questrade users is that any drawings made on stock or forex charts are automatically saved, ensuring no time is wasted redoing previous work. Moreover, real-time quotes can be accessed through its watchlist feature, making it easier for traders to stay updated on market movements.
While Questrade and Xtrade both receive a four-star rating for their mobile trading apps, the features and functionalities they offer differ significantly. Xtrade does not provide essential tools like price alerts or watchlist syncing, nor does it have charting capabilities that include drawing trendlines or multiple time frame views, which are essential for many traders. This lack could potentially limit a trader's ability to respond quickly to market changes. Xtrade also trails behind in rankings by ForexBrokers.com, where it sits at #53, compared to Questrade's position at #34 out of 62 brokers. For those seeking a mobile trading platform rich in features and synchronicity, Questrade seems to provide a more comprehensive and efficient trading experience.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research capabilities of Questrade and Xtrade, there are distinct differences that cater to varying types of investors. Xtrade stands out by providing daily market commentary and forex news from top-tier sources, ensuring traders have access to timely information and insights. Conversely, while Questrade does not offer these features, it excels in providing advanced research tools. Questrade offers technical analysis and fundamental research resources from firms like Autochartist and Trading Central, giving users access to sophisticated analysis capabilities.
Both platforms offer an economic calendar that displays global news events, assisting traders in making informed decisions around macroeconomic trends. However, neither broker provides a sentiment-based trading tool or research resources from Acuity Trading. Both Questrade and Xtrade are rated 3.5 stars for research, reflecting a balanced performance in this area, even as their offerings differ. In rankings by ForexBrokers.com, Questrade is placed at #51 and Xtrade at #52 out of 62 brokers, indicating a close but not identical performance in research delivery.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| 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 | No |
| TipRanks | Yes | No |
| 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, Questrade and Xtrade both offer a variety of tools to help newcomers understand forex and CFD trading. Questrade provides more than ten educational pieces like articles and videos centered on forex or CFDs. They also offer a searchable archive of recorded webinars, giving you the flexibility to learn at your own pace. For those new to trading, Questrade delivers at least ten beginner educational videos tailored specifically for novices. On the downside, they lack advanced educational videos and do not offer a comprehensive investor dictionary with terms commonly used in investing.
Similarly, Xtrade offers a good selection of educational pieces focused on forex or CFDs, ensuring beginners have plenty of material to get started. However, unlike Questrade, Xtrade does not provide a searchable archive of webinars nor do they offer a sufficient number of beginner-friendly educational videos. They do, on the other hand, supply an investor dictionary featuring over fifty investing terms, which can be a helpful resource for understanding terminology. While both platforms received a 3.5-star rating for education, Questrade edges out Xtrade in rankings, sitting at #36 compared to Xtrade’s #46 among 62 brokers reviewed by ForexBrokers.com.
| Feature |
Questrade
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 Xtrade. Questrade finished with an overall rank of #32, while Xtrade finished with an overall rank of #59.
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
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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 74 |
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Both Questrade and Xtrade do not offer the ability to buy actual delivered cryptocurrency, but they both provide options to purchase cryptocurrency derivatives.
Both Questrade and Xtrade allow account funding and withdrawals via Visa, Mastercard, and bank wires, but neither supports ACH, SEPA, or PayPal transfers; however, unlike Questrade, Xtrade additionally offers Skrill as an option for deposits and withdrawals.
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 | Xtrade | |
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| Trust Score | 86 | 74 | |
| Winner | check_circle | ||
| Review | Questrade Review | Xtrade Review |
| Broker Screenshots | Questrade | Xtrade | |
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| Regulation | Questrade | Xtrade | |
|---|---|---|---|
| Trust Score | 86 | 74 | |
| Year Founded | 2000 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Questrade | Xtrade | |
|---|---|---|---|
| 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 | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Questrade | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Questrade | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 482 | |
| Forex Pairs (Total) | 110 | 56 | |
| 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 | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| 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 | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $250 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Questrade | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 52 | 9 | |
| Charting - Indicators / Studies (Total) | 64 | N/A | |
| Charting - Drawing Tools (Total) | 20 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Questrade | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Questrade | Xtrade | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Questrade | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | Questrade | Xtrade | |
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| Trust Score | 86 | 74 | |
| Winner | check_circle | ||
| Review | Questrade Review | Xtrade Review |
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