Written by ForexBrokers.com
In this head to head comparison of FP Markets 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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FP Markets vs Questrade: FP Markets was founded in 2005, while Questrade began in 2000. Both firms are privately held (not publicly traded) and are not banks. According to ForexBrokers.com, FP Markets holds a Trust Score of 90 out of 99 (highly trusted, per the 90–99 range), and Questrade holds a Trust Score of 85 (trusted, per the 80–89 range).
On regulation, FP Markets has 2 Tier-1 licenses and 1 Tier-2 license, whereas Questrade has 1 Tier-1 license and no Tier-2 licenses. ForexBrokers.com views Tier-1 regulators as highly trusted and Tier-2 as trusted. In practical terms, FP Markets carries a wider set of top-tier approvals, while Questrade still maintains a trusted regulatory profile.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Year Founded | 2005 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
FP Markets comes out ahead of Questrade when it comes to commissions and fees. FP Markets is known for low-cost trading on its commission-based Raw ECN account, where forex pricing can be very competitive, and its cTrader setup also offers a low-fee option. That said, costs can be higher on its Standard account and on some Iress account tiers, especially for traders who do not meet deposit or monthly commission requirements. FP Markets is rated 4.5/5 stars for commissions and fees and is ranked #11 out of 36 brokers by ForexBrokers.com.
Questrade uses a spread-based pricing model, so trading costs are built into the buy and sell price rather than charged as a separate commission on forex. While Questrade says spreads can start as low as 0.8 pips, real-world pricing may be closer to 2.1 to 2.5 pips on major pairs, which can make it more expensive than low-cost alternatives. For CFDs, Questrade also adds a $9.95 USD trading fee per unit, which can push total costs higher than many traders expect. Questrade is rated 3.5/5 stars for commissions and fees and is ranked #34 out of 36 brokers.
In simple terms, FP Markets is the better pick for traders who want lower overall trading costs, especially on forex through its Raw ECN account. Questrade may still suit some traders who prefer spread-only pricing, but its wider spreads and added CFD fees make it less competitive on price overall.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Minimum Deposit | $100 AUD | $0 |
| Average spread (EUR/USD) - Standard account | 1.3 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
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When it comes to range of investments, FP Markets and Questrade both offer forex trading, but they differ in what else you can trade. FP Markets lists around 10,000 tradeable symbols and 71 forex pairs, while Questrade offers fewer total symbols at 675 but a wider selection of forex pairs at 110. Neither broker lets you buy real U.S. or international exchange-traded shares directly, and neither supports buying actual cryptocurrency.
FP Markets does stand out for copy trading and cryptocurrency CFDs, which Questrade does not offer. Still, Questrade has the stronger overall score for range of investments, with 5 stars and a ForexBrokers.com ranking of #12 out of 36 brokers, compared with FP Markets’ 4.5 stars and #17 ranking.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 675 |
| Forex Pairs (Total) | 71 | 110 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | 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). |
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FP Markets and Questrade both give traders several ways to get started, including free demo accounts for practice, web-based platforms, Windows desktop downloads, and their own in-house trading platforms. Each also lets users place trades directly from a chart, which can be helpful for active traders who want a faster workflow. In ForexBrokers.com’s Trading Platforms and Tools category, both brokers are rated 4 out of 5 stars, showing a similar level of overall platform quality.
Where FP Markets stands out is in the extra tools it offers. It supports copy trading and includes both MetaTrader 4 and MetaTrader 5, which may appeal to traders who want more platform choices and familiar third-party software. Questrade does not offer copy trading, MT4, or MT5. That said, Questrade still provides solid core platform features, and both brokers are useful options for traders looking for a mix of desktop, web, and demo trading access. Based on ForexBrokers.com rankings, FP Markets comes in at #22 out of 36 brokers, while Questrade ranks #29.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | 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.
FP Markets and Questrade both make mobile trading easy with iPhone and Android apps, plus stock and forex price alerts and chart tools like trendlines that auto-save on mobile. FP Markets uses the MetaTrader platform for charting in its app, while Questrade offers 64 technical studies, giving active traders more built-in chart analysis options on the Questrade mobile app.
The biggest difference is watchlist syncing: Questrade syncs watchlists between its mobile app and online account, so changes update across devices, while FP Markets does not. In overall mobile trading app ratings, FP Markets comes out ahead with 4 out of 5 stars and a #20 ranking out of 36 brokers, compared with Questrade’s 3.5 stars and #29 ranking.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, FP Markets gives traders more day-to-day market coverage than Questrade. FP Markets offers daily market commentary, forex news from major sources like Bloomberg, Reuters, and Dow Jones, plus a sentiment tool that shows long and short positioning across markets. It also includes research from Autochartist and Trading Central, along with an economic calendar for tracking key global events. Questrade, by comparison, does not offer daily market commentary, top-tier forex news, sentiment tools, or an economic calendar, though it does provide research from Autochartist, Trading Central, and TipRanks.
Overall, FP Markets scores higher for research, with a 4-star rating and a #22 ranking out of 36 brokers at ForexBrokers.com. Questrade earns 3.5 stars and ranks #35 out of 36. For traders who want more built-in market news and analysis, FP Markets has the edge, while Questrade stands out mainly for its TipRanks access.
| Feature |
FP Markets
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | 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.
For beginners looking to learn the basics, FP Markets offers more in the way of education than Questrade. FP Markets provides forex and CFD learning content, at least one educational webinar each month, and a large library of beginner and advanced trading videos. This gives new traders more ways to learn at their own pace, whether they prefer reading, watching videos, or joining live sessions. FP Markets is rated 4 out of 5 stars for Education and is ranked #22 out of 36 brokers by ForexBrokers.com.
Questrade also offers some educational material, but it falls behind FP Markets for forex and CFD learning support. It does not meet the same level for monthly webinars or the number of beginner and advanced trading videos, which may make it less helpful for someone starting out. Questrade is rated 3.5 out of 5 stars for Education and is ranked #28 out of 36 brokers by ForexBrokers.com.
| Feature |
FP Markets
|
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 FP Markets is better than Questrade. FP Markets finished with an overall rank of #19, while Questrade finished with an overall rank of #29.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 10,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
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Questrade
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|---|---|---|
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| Trust Score | 90 | 85 |
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In an FP Markets vs. Questrade comparison for cryptocurrency access, neither broker allows buying actual delivered crypto, but FP Markets does offer cryptocurrency CFDs whereas Questrade does not.
FP Markets vs Questrade: for deposits and withdrawals, neither broker supports ACH or SEPA, both support bank wire transfers, and FP Markets additionally offers PayPal and Skrill while Questrade does not.
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 | FP Markets | Questrade | |
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| Trust Score | 90 | 85 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Questrade Review |
| Broker Screenshots | FP Markets | Questrade | |
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| Regulation | FP Markets | Questrade | |
|---|---|---|---|
| Trust Score | 90 | 85 | |
| Year Founded | 2005 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | 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) | FP Markets | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | FP Markets | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 675 | |
| Forex Pairs (Total) | 71 | 110 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | 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 | FP Markets | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.3 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | FP Markets | Questrade | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | FP Markets | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | 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 | Yes | No |
| Trading Tools | FP Markets | 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 | FP Markets | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FP Markets | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | FP Markets | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | FP Markets | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FP Markets Review | Questrade Review |
| Overall | FP Markets | Questrade | |
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| Trust Score | 90 | 85 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Questrade Review |
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