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.
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Comparing online brokers XM Group and Questrade: XM Group launched in 2009, while Questrade began in 2000. Neither company is publicly traded or operates as a bank, which makes their regulatory strength and transparency especially important for investors researching where to open an account.
XM Group holds 4 Tier-1 licenses and 3 Tier-2 licenses, versus Questrade’s 1 Tier-1 license and 0 Tier-2 licenses. According to ForexBrokers.com, XM Group’s Trust Score is 93 out of 99, which is considered highly trusted (90–99), while Questrade’s Trust Score is 85, considered trusted (80–89). These ratings reflect how regulators oversee each broker and can help you gauge overall safety and oversight when choosing between them.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Year Founded | 2009 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
XM Group and Questrade are both rated 3.5 out of 5 stars for commissions and fees, but they take different approaches to pricing. XM Group’s standard account spreads are expensive, and it does not publish average spreads for its commission-based XM Zero account, which can make it harder for traders to compare costs upfront. In ForexBrokers.com’s Commissions and Fees category, XM Group ranks #35 out of 36 brokers.
Questrade also earns a 3.5-star rating, and it ranks #34 out of 36 in the same category. Questrade Global is a spread-based broker, so trading costs are built into the price rather than charged as a separate commission. According to Questrade, spreads can start as low as 0.8 pips in normal market conditions, but average spreads for major forex pairs were found to be closer to 2.1 to 2.5 pips, which can work out to about $20 per standard lot trade.
For CFDs, Questrade adds a $9.95 USD trading fee per unit on top of the spread, which can make trades more expensive than they first appear. In simple terms, both brokers are on the pricier side for commissions and fees, but Questrade’s pricing is more transparent than XM Group’s in some areas because its spread-based model is easier to see. Still, neither broker stands out as a low-cost choice in this category.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Minimum Deposit | $5 | $0 |
| Average spread (EUR/USD) - Standard account | 2 | 0.8 or higher |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
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XM Group and Questrade both support forex trading, but they differ a lot in the range of markets they give access to. XM Group lists 1,429 tradeable symbols and 55 forex pairs, while Questrade offers 675 tradeable symbols but a wider selection of 110 forex pairs. XM Group also lets clients trade exchange-traded securities on both U.S. and international exchanges, so investors can buy real shares such as U.S. stocks and overseas listings. Questrade does not offer exchange-traded securities on either U.S. or international exchanges in this comparison.
XM Group also stands out for copy trading and for offering cryptocurrency CFDs, although it does not support buying actual cryptocurrency. Questrade also does not offer actual crypto, and it does not provide crypto CFDs either. Even so, Questrade earns a higher Range of Investments score overall, with 5 stars and a ForexBrokers.com ranking of #12 out of 36 brokers, compared with XM Group’s 4.5 stars and #19 ranking.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1429 | 675 |
| Forex Pairs (Total) | 55 | 110 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | 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). |
Dive deeper: Best Copy Trading Platforms.
XM Group and Questrade both give traders a choice of a free demo account, a Windows desktop app, and a web-based platform, so either broker can work well for practice or day-to-day trading. Both also let users trade directly from charts, and both earn 4 out of 5 stars for trading platforms and tools. In ForexBrokers.com’s ranking, XM Group sits slightly ahead at #28 out of 36 brokers, while Questrade is close behind at #29.
The main difference is in platform variety and extra features. XM Group supports MetaTrader 4 and MetaTrader 5, plus copy trading, which may appeal to traders who want popular third-party tools and the option to follow others. Questrade, on the other hand, offers its own in-house platform, which XM Group does not. If you want MT4, MT5, or copy trading, XM Group has the edge; if you prefer a broker-built platform, Questrade stands out more.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | 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.
XM Group and Questrade both give mobile traders the basics needed to stay active on the go. Each broker offers iPhone and Android apps, stock or forex price alerts, watchlist syncing between the app and online account, and trendline drawing on charts. For everyday use, both apps make it easy to track markets and keep your lists up to date across devices.
Where they differ is in charting and app ratings. Questrade offers more technical studies in its mobile app, with 64 compared with XM Group’s 30, and it also auto-saves chart drawings, which XM Group does not. Even so, XM Group has the better Mobile Trading Apps score at 4 out of 5 stars, while Questrade is rated 3.5 stars. In ForexBrokers.com’s ranking of 36 brokers, XM Group places slightly higher at #26, compared with Questrade at #29.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
XM Group has a stronger market research offering than Questrade overall. XM Group provides daily market commentary, forex news from top sources like Bloomberg and Reuters, a sentiment tool for seeing long and short position ratios, Trading Central research, and an economic calendar with current and upcoming global events. Questrade also offers Trading Central and Autochartist tools, plus TipRanks market research, but it does not include daily market commentary, top-tier forex news, a sentiment tool, or an economic calendar.
For traders who value market research, XM Group is rated 5 stars and ranks #8 out of 36 brokers for Research on ForexBrokers.com, while Questrade is rated 3.5 stars and ranks #35. In simple terms, XM Group gives traders more of the built-in news and analysis tools that can help with day-to-day decisions, while Questrade stands out for including Autochartist and TipRanks.
| Feature |
XM Group
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | 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.
When it comes to beginner-friendly learning tools, XM Group has a clear edge over Questrade. XM Group offers forex and CFDs education, plus live online client webinars at least once a month, along with 10+ beginner videos and 10+ advanced videos for traders who want to keep learning. Questrade does not meet the same level of educational coverage in these areas, so newcomers looking for more guided, trading-focused content may find XM Group easier to start with.
The rating and ranking data tell the same story. XM Group is rated 5 stars for Education and ranks #5 out of 36 brokers in ForexBrokers.com’s Education category, while Questrade is rated 3.5 stars and ranks #28. For beginners comparing online brokers, XM Group appears to offer a broader selection of forex and CFD learning resources, more video content, and more regular webinars than Questrade.
| Feature |
XM Group
|
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 XM Group is better than Questrade. XM Group finished with an overall rank of #16, while Questrade finished with an overall rank of #29.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
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Questrade
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| Trust Score | 93 | 85 |
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XM Group vs Questrade: neither broker lets you buy actual (delivered) cryptocurrency, but XM Group offers cryptocurrency CFDs while Questrade does not.
Comparing online brokers XM Group and Questrade for deposit and withdrawal funding methods: neither supports ACH or SEPA transfers or PayPal; XM Group supports Skrill while Questrade does not; both offer bank wire transfers; Visa/Mastercard availability is not specified for either.
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 | XM Group | Questrade | |
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| Trust Score | 93 | 85 | |
| Winner | check_circle | ||
| Review | XM Group Review | Questrade Review |
| Broker Screenshots | XM Group | Questrade | |
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| Regulation | XM Group | Questrade | |
|---|---|---|---|
| Trust Score | 93 | 85 | |
| 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 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | XM Group | 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) | XM Group | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | XM Group | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1429 | 675 | |
| Forex Pairs (Total) | 55 | 110 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | 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 | XM Group | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 2 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | XM Group | Questrade | |
|---|---|---|---|
| Minimum Deposit | $5 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | XM Group | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | 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 | XM Group | 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 | XM Group | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | XM Group | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | No |
| Education | XM Group | Questrade | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | XM Group | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | XM Group Review | Questrade Review |
| Overall | XM Group | Questrade | |
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| Trust Score | 93 | 85 | |
| Winner | check_circle | ||
| Review | XM Group Review | Questrade Review |
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