Quanta Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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Every minute I trade with Quanta is a waste of my time. I am completely disappointed with their unprofessional customer service and have withdrawn all my money. See you never, Quanta!
Quanta, an offshore forex broker, has generated a considerable amount of skepticism among trading communities. This review synthesizes various sources, revealing a consensus on the broker's dubious practices and lack of regulatory oversight. Key findings indicate that Quanta lacks proper licensing, offers high leverage ratios, and presents significant risks to potential investors.
Note: It is crucial to recognize that multiple entities operate under similar names across different jurisdictions, raising concerns about the legitimacy of Quanta. This review aims to provide a fair and accurate assessment based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
How We Rate Brokers: Our ratings are based on a combination of user feedback, expert opinions, and factual data regarding the broker's services.
Founded in 2022, Quanta operates under the name Quanta Asset Management Limited, claiming to be based in the UK. However, investigations reveal that the firm lacks any legitimate regulatory oversight from recognized authorities such as the FCA. The broker claims to offer a proprietary trading platform but does not provide access to widely-used platforms like MetaTrader 4 or 5. Quanta purports to offer a variety of trading instruments, including forex, commodities, and cryptocurrencies, but its actual offerings remain unclear.
Quanta operates as an unregulated entity, which poses significant risks for investors. The broker claims to be licensed by the Cayman Islands Monetary Authority (CIMA), but upon further investigation, it was found that Quanta is not registered with CIMA or any other reputable regulatory body. This absence of oversight means that clients have no protections for their funds, and the likelihood of fraudulent activities is alarmingly high.
Quanta does not specify its deposit and withdrawal methods clearly. According to various sources, the broker accepts payments via credit and debit cards, yet there is no transparency regarding withdrawal processes. Users have reported difficulties in withdrawing funds, often facing delays and unreasonable demands for additional deposits before they can access their money.
The broker has not disclosed a clear minimum deposit requirement, which is concerning. Some reviews suggest a minimum deposit of around $250, but this is unverified. Additionally, Quanta offers bonuses of up to 150%, a tactic commonly associated with unregulated brokers to entice new clients. However, such bonuses usually come with stringent withdrawal conditions that make it nearly impossible for clients to access their funds.
Quanta does not provide clear information on spreads, fees, or commissions. Reports indicate that the broker advertises high leverage ratios of up to 1:500, which is significantly higher than the limits set by regulators in the UK. Such high leverage can lead to substantial risks, especially for inexperienced traders.
Quanta claims to provide a proprietary web-based trading platform but does not offer access to popular platforms like MT4 or MT5. Users have reported issues accessing the platform, citing "parameter validation errors" that prevent them from logging in. This lack of access raises questions about the reliability and functionality of the trading software.
While Quanta does not explicitly mention restricted regions, its unregulated status suggests that it may not be compliant with various jurisdictions' trading laws. This lack of compliance could expose clients to legal risks when trading.
Customer service at Quanta appears to be lacking. Users have reported difficulties in reaching support and receiving timely responses to their inquiries. Many have also experienced aggressive sales tactics from account managers, further indicating a potential scam environment.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
Account Conditions (2/10): Quanta's account offerings are vague, with no clear minimum deposit or transparent terms.
Tools and Resources (3/10): The lack of established trading platforms like MT4/5 limits traders' access to essential tools.
Customer Service and Support (2/10): Reports of poor communication and aggressive sales tactics raise concerns about user treatment.
Trading Setup (Experience) (3/10): Users face login issues and unclear trading conditions, detracting from the overall trading experience.
Trustworthiness (1/10): The absence of regulation and numerous red flags point to a high risk of fraud.
User Experience (2/10): Overall user feedback is negative, with many expressing frustration over withdrawal issues and platform access.
In conclusion, the Quanta review highlights significant risks associated with trading through this broker. The lack of regulatory oversight, unclear deposit and withdrawal processes, and negative user experiences suggest that potential investors should avoid engaging with Quanta. Instead, opting for regulated and reputable brokers is advisable to ensure the safety of funds and a more reliable trading experience.
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