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Ratings

Overall Star Star Star
Commissions & Fees Star Star Star
Customer Service Star Star Star Star
Tools & Research Star Star Star
Ease of Use Star Star Star
Investment Offering Star Star Star
Education Star Star
Mobile Trading Star

Trade Commissions

Forex Trades* $10.20
Clearing Method* STP
Broker Assisted* $0.00
Min. Deposit $1,000.00
Min. Contract Size Mini
Max. U.S. Leverage NA
Max. Int'l Leverage 22:1
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Typical Spreads

  • EURUSD2.0
  • GBPUSD2.6
  • USDJPY2.0
  • USDCHF2.6
  • AUDUSD2.8

Highlights

  1. Provides CIPF insurance up to 1 million dollars for trading accounts (Canada Only)
  2. Free access to eSignal trading charts for funded accounts

Account Features

  • Virtual Trading
  • No Minimum Deposit
  • No Maintenance Fees
  • No Dealing Desk
  • Online Trader Community
  • Investment Education

Mobile Trading

  • iPhone App
  • iPad App
  • BlackBerry App
  • Android App
  • Mobile Site

Customer Service

  • Phone Support
  • Email Support
  • Live Chat Support
  • 24/7 Customer Support

Trade Types

  • Stock Trading
  • FOREX Trading
  • Futures Trading

Questrade Forex Review

Forex Broker Review

 

Likes - Retail offices in major Canadian cities and CIPF insured trading accounts.

Dislikes - Low leverage, and no automated trading. 

Bottom Line - If you're a Canadian trader and you want your account funds to be insured by the CIPF, Questrade is the broker for you. Competitive transaction rates and a low minimum deposit.

Questrade is a financial service provider offering stock & options trading and mutual fund investing in addition to retail foreign exchange trading. They have two physical locations that Candian traders can make appointments to speak with representatives in person. Questrade is regulated by the IIROC and CIPF and pride themselves on offering safe access to the often times unregulated retail foreign exchange industry. They cater their services specifically to citizens of Canada, you may not open an account if you do not have citizenship.

Our Questrade forex review provides trade platform screenshots, detailed commissions information, and online broker ratings specifically targeted at their forex trading services.

Commission Notes

Questrade does not charge commission for forex trades, instead they are compensated through the difference (i.e. spread) between the Bid and Ask prices of whatever currency pair is being traded.

Spread - Brokers use inserted spread along with a no-commission trade structure to hide costs which are usually considerably higher than commission based brokers. Questrade however does a good job of keeping its trading costs down by inserting often times less than 1 pip on major currency pairs, which puts its costs in line with commission based brokers.

Premier Accounts - Questrade offers a "Tier 2" account with tighter spreads across the board for major pairs and crosses. This tier is available to accounts funded with $10,000 or more.

Micro Account Trading - Questrade does not offer micro lot trading. Their minimum contract size is 1 mini lot or 10k currency units.

Questrade was reviewed by StockBrokers.com on 2011-06-01 with an overall rating of 3 Stars.

Questrade Trading Platform

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