Introduction to FX Trading

The asset selection is outstanding, and the core cost structure very competitive. New traders should browse the additional costs, but Questrade is very transparent about it. In operation for almost 21 years, and with over $15 billion under management, Questrade offers investors and traders three proprietary trading platforms and maintains a client-friendly trading environment. With twenty account options, all types of investors and traders will find a suitable choice.

Invest with Canada's largest independent online brokerage 3

The broker offers a solid range of currency pairs, including major, minor, and select exotic pairs. This variety allows traders to diversify their portfolios and explore different economic regions without being restricted to only the most traded pairs. Determining whether a broker is good for forex trading depends on multiple criteria — from the platform’s performance to the tools and support provided to traders.

Market Data

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. Yes, based on your detected country of FI, you can open an account with this broker. We also review each broker’s regulatory status; this research helps us determine whether you should trust the broker to keep your money safe. As part of this effort, we track 100+ international regulatory agencies to power our proprietary Trust Score rating system.

For instance, EUR/USD is most active during the European and North American overlaps, while AUD/JPY may be more volatile during the Asian session. Get insight for your investment strategy with objective news and research from industry leaders like NewsEdge and AutoChartist.

The mobile trading app designed by active traders questrade forex for active traders. You can easily and securely make trades, manage your accounts, check performance, and research stocks or ETFs. In FX trading, investors attempt to profit from movements in currency exchange rates.

Forex Risk Disclaimer

Discipline, preparation, and ongoing learning are key to long-term success in forex trading on Questrade. ETF traders at Questrade should consider one additional fee for market data packages. New traders may not require it and determine the free Basic package sufficient.

Best Trading Brokers

Brokers move an inactive account to a different sub-database, and reactivation may consist of a trader resubmitting a copy of their ID or proof of residency. It does not cost brokers anything, making an inactivity fee a legal tool to drain the existing client account from the remaining capital. Fortunately, Questrade decided to abandon the Questrade inactivity fee as of October 2020. Before that, it was $24.95 per quarter, but if you had more than $1,000 in your account, made a deposit of $150 during three months, or were under the age of 25, you were exempt. Inactive traders who placed a transaction in the next quarter were eligible to get their commissions reimbursed up to $24.95.

We go above and beyond to protect your account with an additional $10 million in private insurance. Ready to open an account and take charge of your financial future? $10,000,000 in private insurance covers investors against the unlikely event of default by Questrade. In case of unauthorized transactions, Questrade will reimburse investors 100%. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

App Privacy

Take control of your financial future and embark on a path to new trading opportunities. Whether you're a seasoned investor or just starting out, understanding the basics of FX & CFD trading is crucial in navigating this complex yet potentially rewarding market. The world of FX trading, rather like the world itself, is quite big and varied, but we have a few resources to help get you started on your learning journey.

• With management expansion plans to venture into banking, Questrade can become a one-stop solution for all Canadian financial needs.
• Questrade offers the infrastructure to earn money from investing and trading activities.
• Trade fractional shares in real-time, commission-free and get the most out of every dollar.
• The sole drawback on the trading platform portfolio remains the lack of support for automated trading solutions.

"Questrade overall appears to be a well run organization and offer the latest technologies to make investing easy." While it depends on personal preferences, Questrade maintains an overall superior product and services portfolio. Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com.

• 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.
• Some apply a flat cost after a dormancy, for example, $10 monthly after three months.
• Since 2020, Questrade Canada became the fastest-growing online brokerage.

"Questrade is the only Canadian owned discount brokerage independent of all big banks, with the same protection assurance. That's perfect." Trade fractional shares in real-time, commission-free and get the most out of every dollar. Intelligent, lower fee portfolios designed by experts to help you achieve your financial goals faster. You will be charged a rollover cost for any position that remains open after 5 p.m. With Questrade, you always know exactly what you’re paying and why.

For security reasons, we cannotprovide specific details about individual accounts,holdings, or funding over social media, nor can we provide investment advice. Unlike some brokers, Questrade does not charge inactivity fees, making it suitable for casual or part-time traders who may not be active every month. One of the primary ways Questrade protects client funds is by keeping them in segregated accounts. This means the money you deposit is kept separate from the broker’s operating capital and cannot be used by the company for its own financial activities. It is not possible to avoid trading fees, but Questrade offers means to lower the overall cost structure by being an active trader and via the My Family incentive.

Canadian traders who wish exposure to international markets have a dedicated trading platform in Questrade Global. Two high-quality trading tools, Intraday Trader and IPO Center provide Questrade Canada clients with exceptional value-added services. The sole drawback on the trading platform portfolio remains the lack of support for automated trading solutions.

It remains outdated and business-unfriendly, mirroring that of the US regulatory environment. Offering an international subsidiary remains one notable oversight at Questrade. Manual traders have access to extensive research, but new traders will be disappointed by the educational capabilities of this broker.

While manual traders have access to an industry-leading choice, Questrade fails to bridge the gap towards the most advanced solutions. The debate on commission-free trading and its negative impact, particularly on retail traders, is ongoing. While many retail clients flock to commission-free offers, they fail to understand that products and services come at a cost. The term commission-free attracts scores of new traders who feel the global financial system discriminates against them in favor of professional clients.

Additional information could be necessary, depending on the account type. Support hours at Questrade are not listed, but the most convenient tool remains live chat. An FAQ section attempts to answer the most common questions, and this broker does an excellent job explaining its products and services.