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PepperstoneQuestrade Review
Written by Steven Hatzakis
Edited by Jeff Anberg
Fact-checked by Joey Shadeck
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Questrade is a trusted full-service multi-asset broker that now offers forex and CFDs alongside its stock trading services for active and passive investors. Regulated by CIRO in Canada for stocks, forex, and CFDs and by the SEC in the U.S. for stock trading, Questrade has an impressive platform lineup – although the scope of its educational resources and in-house resources is limited.
-
Minimum Deposit:
$250 -
Trust Score:
86 -
Tradeable Symbols (Total):
641
Can I open an account with this broker?
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Questrade pros & cons
Pros
- The recently launched Questrade Global platform, available for desktop, web, and mobile, supports forex and CFD trading and is powered by Saxo.
- Questrade has two proprietary platforms and apps for stock market investors, including Questrade Edge (desktop, web, and mobile) for intermediate and advanced traders, Questrade Trading, and its QuestMobile counterpart for everyday users.
- Offers wealth management services through Questwealth Portfolios.
- Offers TipRanks for stock market investing in the Questrade Trading platform, and The Morning Blend newsletter by Trading Central, along with OptionsPlay.
- Instant deposits are available for up to $10,000 per day (deposits to FX accounts could take up to one business day).
- In terms of educational content, Questrade offers several co-branded webinars, including advanced options with OptionsPlay, which I found to be of very high quality.
- Offers two APIs for programmatic traders, including a RESTful API.
Cons
- Questrade doesn’t provide in-house research for daily technical or fundamental analysis content, besides content from its third-party providers.
- $250 minimum deposit could be a little bit steep for low-budget investors.
- Target spreads on the EUR/USD at 1.9 pips is steep, compared to the industry average.
- Market data cost for stock market trading could be a deterring factor unless you are an active trader, as it unlocks potential discounts on pricing.
- Questrade offers connectivity to TradingView, but not for forex trading.
- Questrade doesn’t offer a significant number of educational resources, in terms of articles, videos, and courses for beginner, intermediate, or advanced users.
- Forex demo accounts at Questrade are limited to only the web version of the Questrade Global platform. The desktop and mobile versions only support a live account.
- Questrade only accepts clients who are either Canadian residents or Canadian citizens living abroad in permitted countries.
Overall Summary
If you are a Canadian resident already invested in the stock market but thinking of venturing into forex trading (or, maybe you have experience in the forex market and want to try stocks), Questrade could be a great choice for you. The Questrade Global trading platform combines proven technology from the developer with a white-labeled version of Saxo's platform suite to deliver a great package for traders and investors. Traders gain access to hundreds of CFDs and over one hundred forex pairs, and stock market traders are able to use Questrade’s two proprietary trading platforms.
Questrade for stock trading
More interested in trading stocks with Questrade? Check out the Questrade review over at StockBrokers.com to learn more about the broker's stock trading offering.
| Feature |
Questrade
|
|---|---|
| Overall Rating |
|
| Trust Score | 86 |
| Offering of Investments |
|
| Commissions & Fees |
|
| Platform & Tools |
|
| Research |
|
| Mobile Trading |
|
| Education |
|
Is Questrade safe?
Questrade is considered Trusted, with an overall Trust Score of 86 out of 99. Questrade is not publicly traded and does not operate a bank, but is authorised by two Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulator (Average Risk), and zero Tier-4 regulators (High Risk). Questrade is authorised by the following Tier-1 regulators: Canadian Investment Regulatory Organization (CIRO).
| Feature |
Questrade
|
|---|---|
| Year Founded | 2000 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 2 |
| Tier-2 Licenses | 0 |
| Tier-3 Licenses | 0 |
| Tier-4 Licenses | 0 |
Questrade media
About Questrade
Founded in 2000, Questrade, part of Questrade Financial Group, is a Canada-based brokerage with 30 billion in assets under its administration. Questrade is primarily a stock brokerage offering full service brokerage products, including wealth management services, but recently enhanced its product offering to include forex and CFDs as additional asset classes and instrument types. To learn more about the experience of using Questrade for stock brokerage services, check out the Questrade review on our sister site, StockBrokers.com.
FAQs
Does Questrade offer forex and CFDs?
Yes, Questrade recently rolled out forex and CFD trading as part of its Questrade Global platform launch, which is powered by Saxo (as a white labeled platform suite). As a result, new and existing Questrade clients can open a forex/CFD account and switch between the forex and stock broker platforms using their respective Questrade accounts.
How many forex pairs does Questrade offer?
In addition to cash equities and access to Canadian and regional US stock exchanges, Questrade provides access to over 100 forex pairs and over 250 stock CFDs, available within its Questrade Global platform as part of its partnership with Saxo.
2024 Review Methodology
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
Read our full explanation and accounting of our research and testing process to learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.
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Show allAbout the Editorial Team
Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
Jeff Anberg is a Staff Editor at ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.
Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.