QIMI Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
Business
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FCA Suspicious Clone 
Reserve a Christmas accumulative deposit of 50,000 and get 5888 for free. As a result, when I can’t withdraw the money, they said that I must deposit so much to withdraw it. They also said that if I don’t deposit according to the agreement, I will be deducted by 30% of my principal each day. They did not inform that before deposit, I feel I was deceived.
In this comprehensive review of Qimi, we delve into the mixed feedback surrounding this forex broker. While some users highlight its user-friendly platform and diverse asset offerings, concerns regarding regulatory compliance and withdrawal issues loom large. This review aims to provide a balanced perspective on Qimi's features and user experiences.
Note: It's important to recognize that Qimi operates under different entities in various regions, which can impact regulatory oversight and user experiences. Therefore, we approach this review with fairness and accuracy in mind.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 3 |
| User Experience | 6 |
| Overall Experience | 4 |
We evaluate brokers based on a combination of user feedback, expert opinions, and factual data.
Founded in 2018, Qimi is a forex broker that offers a platform for trading various asset classes, including forex, stocks, indices, and commodities. The broker provides access to the widely-used MT4 trading platform, which is favored for its robust trading tools and user-friendly interface. However, concerns have been raised about its regulatory standing, with many sources indicating a lack of oversight from reputable financial authorities.
Regulatory Areas/Regions:
Qimi is reportedly registered in the United Kingdom, but its regulatory licenses are deemed suspicious by some sources. For instance, WikiFX highlights that Qimi operates under a "suspicious clone" license from the FCA, raising red flags about its legitimacy. This lack of robust regulatory backing can be a significant deterrent for potential traders.
Deposit/Withdrawal Currencies/Cryptocurrencies:
The broker supports multiple currencies for deposits and withdrawals, including USD and EUR. However, the presence of withdrawal issues has been noted by users, with reports of difficulties in accessing funds after making a withdrawal request.
Minimum Deposit:
Qimi requires a minimum deposit of $100, which is relatively standard in the industry. However, some users have expressed dissatisfaction with the lack of transparency regarding fees and conditions tied to this minimum deposit.
Bonuses/Promotions:
While Qimi does offer promotional bonuses, the specifics are often unclear, leading to confusion among users. According to user reviews, some promotions appear to come with stringent withdrawal conditions that can be misleading.
Tradeable Asset Classes:
Qimi provides a diverse range of assets for trading, including forex pairs, stocks, indices, and commodities. This variety is often cited as a positive aspect by users, who appreciate the opportunity to diversify their trading portfolios.
Costs (Spreads, Fees, Commissions):
The broker's cost structure is another area of concern. Users have reported high spreads and hidden fees, which can significantly affect trading profitability. For instance, some reviews indicate that the average spread for major currency pairs hovers around 1.7 to 1.9 pips, which is on the higher side compared to other brokers.
Leverage:
Qimi offers leverage of up to 1:500, which can be attractive for traders looking to maximize their positions. However, high leverage also entails higher risk, and users should exercise caution when utilizing such options.
Allowed Trading Platforms:
The primary trading platform offered by Qimi is MT4, which is well-regarded in the trading community for its comprehensive features. However, the broker does not provide access to more advanced platforms like MT5, which could be a limitation for more experienced traders.
Restricted Regions:
While Qimi operates in various regions, specific restrictions apply based on local regulations. Users should verify whether their country of residence allows trading with Qimi to avoid potential legal issues.
Available Customer Service Languages:
Qimi offers customer support in several languages, which is beneficial for its diverse user base. However, user reviews indicate that response times can be slow, and the quality of support may not meet expectations.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 3 |
| User Experience | 6 |
| Overall Experience | 4 |
Account Conditions:
The minimum deposit requirement of $100 is standard; however, the lack of transparency regarding fees can be frustrating for users. Some have reported unexpected charges that diminish their initial investment.
Tools and Resources:
Qimi provides access to the MT4 platform, which is equipped with essential trading tools. However, the absence of more advanced platforms like MT5 limits the options for traders seeking enhanced features.
Customer Service and Support:
Customer service has received mixed reviews, with users citing slow response times and inadequate support. This can be particularly concerning for traders who require immediate assistance.
Trading Setup (Experience):
The trading experience is generally user-friendly, but the high spreads and potential withdrawal issues detract from the overall satisfaction reported by users.
Trustworthiness:
The lack of robust regulatory oversight raises significant concerns about Qimi's trustworthiness. Reports of withdrawal difficulties further exacerbate these concerns.
User Experience:
Overall, user experiences vary, with some appreciating the asset variety and platform usability, while others express frustration over hidden costs and regulatory issues.
In conclusion, while Qimi offers certain appealing features such as a user-friendly platform and diverse asset offerings, significant concerns regarding regulatory compliance and customer support persist. Potential traders should conduct thorough research and consider these factors before proceeding with Qimi.
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