Written by ForexBrokers.com
In this head to head comparison of OANDA 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.
OANDA vs Questrade: OANDA was founded in 1996 and Questrade in 2000. Neither broker is publicly traded or a bank. According to ForexBrokers.com, OANDA holds a Trust Score of 92/99 (highly trusted), while Questrade scores 85/99 (trusted). For context, ForexBrokers.com rates 90–99 as highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted.
Regulation and licenses: OANDA holds 7 Tier-1 licenses and 0 Tier-2 licenses. Questrade holds 1 Tier-1 license and 0 Tier-2 licenses. Tier-1 licenses are considered highly trusted by ForexBrokers.com. In simple terms, both brokers are overseen by at least one top-tier regulator, with OANDA regulated across more top-tier jurisdictions, which aligns with its higher Trust Score.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Year Founded | 1996 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing commissions and fees, OANDA comes out slightly ahead of Questrade, but both brokers are on the pricey side versus the cheapest choices in the market. OANDA’s forex costs are mostly built into its spreads, which can be high on standard pricing, though its core pricing can lower the spread if you meet the $10,000 minimum deposit and pay a commission. OANDA is rated 4 stars and ranked #31 out of 36 for Commissions and Fees.
Questrade Global also uses spread-based pricing, but its typical forex spreads were found to be wider in practice, which can make trading more expensive for everyday users. For CFDs, Questrade adds a separate $9.95 USD fee per trade, and that can push costs up quickly, especially on smaller positions. Questrade is rated 3.5 stars and ranked #34 out of 36 for Commissions and Fees.
In simple terms, OANDA is the better pick if you want the lower-cost option between the two, especially for forex trading. Questrade may still appeal to some traders, but its spread costs and extra CFD charges make it the more expensive choice overall.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.68 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 1.69 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
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When it comes to range of investments, OANDA and Questrade both offer forex trading, but they differ a lot beyond that. OANDA gives traders access to a much larger list of tradable symbols, with 4,172 available compared with Questrade’s 675. OANDA also offers 69 forex pairs, while Questrade lists 110 pairs. In addition, OANDA lets clients trade U.S. and international exchange-listed shares, use copy trading, and buy both actual cryptocurrency and crypto CFDs. Questrade does not offer U.S. or international exchange-listed securities, copy trading, or crypto trading in this comparison.
Overall, Questrade earns a slightly higher Range of Investments rating at 5 stars and ranks #12 out of 36 brokers on ForexBrokers.com, while OANDA scores 4.5 stars and ranks #20. That said, OANDA may appeal more to traders who want a wider mix of markets, since it includes stocks from major exchanges, a broad symbol list, and crypto access. Questrade, on the other hand, offers more forex pairs, which may matter more if currency trading is your main focus.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 675 |
| Forex Pairs (Total) | 69 | 110 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | Yes | 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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OANDA and Questrade both give traders a good range of platform choices, including a free demo account for simulated trading, a proprietary in-house platform, a Windows desktop app, and a web-based platform. Both also let users trade directly from charts, which can make placing orders faster and easier. In ForexBrokers.com’s Trading Platforms and Tools category, each broker is rated 4 out of 5 stars, showing that both offer solid trading technology for everyday investors.
Where OANDA stands out is in the extra platform options it supports. OANDA offers copy trading, as well as MetaTrader 4 and MetaTrader 5, which may appeal to traders who want more tools, automation, or a familiar third-party platform. Questrade does not offer copy trading, MT4, or MT5. That difference helps explain why OANDA is ranked higher by ForexBrokers.com for Trading Platforms and Tools, coming in at #16 out of 36 brokers, while Questrade is ranked #29.
| Feature |
OANDA
|
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) | 89 | 64 |
| Charting - Trade From Chart | Yes | Yes |
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OANDA and Questrade both offer mobile trading apps for iPhone and Android, and both let users set stock or forex price alerts, draw trendlines, and automatically save chart drawings. That means either broker can handle the basics well for traders who want to manage positions and monitor markets from a phone or tablet.
Where Questrade stands out is watchlist syncing, since changes made in its mobile app and online account stay in sync, while OANDA does not offer this feature. Questrade also provides more technical studies for mobile charting, with 64 compared with OANDA’s 30. Even so, OANDA scores higher overall for mobile trading apps, earning 5 out of 5 stars and a #7 ranking out of 36 brokers from ForexBrokers.com, while Questrade is rated 3.5 out of 5 stars and ranked #29.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
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When it comes to market research, OANDA has the edge over Questrade. OANDA offers daily market commentary, forex news from major sources like Bloomberg and Reuters, a sentiment tool that shows long and short positioning, and an economic calendar for tracking global events. It also includes Autochartist for chart and pattern analysis. These features help traders keep up with market moves and spot potential trading opportunities more easily.
Questrade has a narrower research lineup, but it does offer some useful tools, including Autochartist, Trading Central, and TipRanks. Still, it does not provide daily market commentary, top-tier forex news, sentiment data, or an economic calendar. That difference shows in the ratings: OANDA earns 5 stars for Research and ranks #4 out of 36 brokers, while Questrade holds 3.5 stars and ranks #35.
| Feature |
OANDA
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | No | 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 learning support for beginners, OANDA stands out over Questrade. OANDA offers forex and CFDs education with at least 10 learning pieces, plus monthly client webinars, 10 or more beginner trading videos, and 10 or more advanced videos for more experienced traders. This helps new users start with the basics and keep building their knowledge over time. By comparison, Questrade does not appear to offer the same level of forex or CFDs education, does not provide monthly educational webinars, and does not meet the mark for beginner or advanced trading video content.
That difference shows up in the ratings too. OANDA earns 5 out of 5 stars for Education and ranks #18 out of 36 brokers in the ForexBrokers.com Education category, while Questrade is rated 3.5 stars and ranks #28 out of 36. For beginners who want more step-by-step help, more video lessons, and regular webinars, OANDA offers a stronger educational experience than Questrade.
| Feature |
OANDA
|
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 OANDA is better than Questrade. OANDA finished with an overall rank of #13, while Questrade finished with an overall rank of #29.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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Questrade
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| Trust Score | 92 | 85 |
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OANDA vs Questrade: the online broker OANDA lets you buy actual (delivered) cryptocurrency and trade crypto CFDs, while Questrade offers neither.
Among online brokers, OANDA offers ACH/SEPA, PayPal, Skrill, and bank wire deposit and withdrawal options, while Questrade only supports bank wires.
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 | OANDA | Questrade | |
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| Trust Score | 92 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | Questrade Review |
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| Regulation | OANDA | Questrade | |
|---|---|---|---|
| Trust Score | 92 | 85 | |
| Year Founded | 1996 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | OANDA | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | OANDA | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | OANDA | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 675 | |
| Forex Pairs (Total) | 69 | 110 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | Yes | 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 | OANDA | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.68 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 1.69 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | OANDA | Questrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | OANDA | 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 | No | No |
| Trading Tools | OANDA | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 89 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | 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 | 30 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | OANDA | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | OANDA | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | OANDA | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | OANDA Review | Questrade Review |
| Overall | OANDA | Questrade | |
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| Trust Score | 92 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | Questrade Review |
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