Phillip Nova vs Questrade 2026: Which Broker is Better?
Choosing between Phillip Nova and Questrade depends on your trading style, preferred markets, and budget. Phillip Nova is headquartered in Singapore, while Questrade operates from Toronto, Canada. Questrade has the longer track record, established in 1999, compared to Phillip Nova which was founded in 2005. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
Phillip Nova
Questrade
| Phillip Nova | Questrade | |
|---|---|---|
| BrokerRank Score | 3.4/5 ✓ | 3.3/5 |
| Min. Deposit | $0 ✓ | $1000 |
| Spread from | 0.6 pips | 0 pips ✓ |
| Max Leverage | 1:20 ✓ | 1:3 |
| Regulation | MAS | CIRO |
| Platforms | Proprietary Web, Proprietary Mobile, POEMS | Proprietary Web, Proprietary Mobile |
Phillip Nova is the better choice overall, scoring 3.4/5 vs 3.3/5 on BrokerRank's independent rating. On fees, Questrade offers lower spreads (0 pips).
See full side-by-side comparison belowPhillip Nova vs Questrade: Key Differences
Phillip Nova
WinnerQuestrade
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Fees Comparison
Phillip Nova
Questrade
Regulation & Trust
Phillip Nova holds licences from MAS. Questrade is regulated by SEC.
Markets & Assets
Both brokers offer access to Forex, Indices, Commodities markets. Phillip Nova additionally covers Cfd, Crypto. Questrade adds Stocks.
Fees & Spreads
On spreads, Questrade is more competitive with EUR/USD spreads from 0.0 pips, compared to 0.6 pips at Phillip Nova.
Trading Platforms
Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS. Questrade offers Proprietary Web, Proprietary Mobile. Both brokers are available on Proprietary Web, Proprietary Mobile.
Minimum Deposit
Phillip Nova requires no minimum deposit, while Questrade sets a minimum deposit of $1,000. This makes Phillip Nova accessible to traders with any budget.
Overall Ratings
BrokerRank scores Phillip Nova at 3.39/5 and Questrade at 3.33/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. Phillip Nova leads overall with a clear advantage.
BrokerRank Verdict
Who Should Choose Which?
Phillip Nova
3.4/5
Choose Phillip Nova if you want…
- Higher overall rating (3.4/5)
- No per-trade commission
- No minimum deposit
- Higher leverage (up to 1:20)
Questrade
3.3/5
Choose Questrade if you want…
- Tighter spreads (from 0 pips)
- More established (est. 1999)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both Phillip Nova & Questrade are available in
Frequently Asked Questions
1Is Phillip Nova better than Questrade?
Phillip Nova scores higher overall on our independent rating system. Phillip Nova holds a 3.4/5 rating vs Questrade's 3.3/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, Phillip Nova or Questrade?
Phillip Nova offers spreads from 0.6 pips, while Questrade starts at 0 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for Phillip Nova vs Questrade?
Phillip Nova requires a minimum deposit of $0. Questrade requires $1000.
4Which broker is safer, Phillip Nova or Questrade?
Phillip Nova is regulated by MAS, while Questrade holds licences from CIRO.
5What trading platforms do Phillip Nova and Questrade support?
Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS. Questrade supports Proprietary Web, Proprietary Mobile.
6Can I use both Phillip Nova and Questrade?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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