Quantum Trade Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
Business
License
In April of this year, the Quantums Trade platform salesperson suggested that I follow the order, but I refused. The clerk even set up his private account to automatically copy the order, and the account lost $2,596 that night.
In the realm of online trading, Quantum Trade has garnered significant attention, but not all of it has been positive. This review synthesizes various user experiences and expert analyses to provide a comprehensive overview of the broker, highlighting both its features and serious concerns regarding its legitimacy and reliability.
Note: It is crucial to acknowledge that Quantum Trade operates under different entities across various regions, which may impact its regulatory status and user experience. This review aims for fairness and accuracy by incorporating diverse perspectives.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| (Optional) Regulatory Compliance | 1 |
How We Rate Brokers: Ratings are derived from a combination of user reviews, expert analyses, and factual data regarding the broker's operations.
Quantum Trade claims to be an innovative online trading platform that offers a wide range of trading instruments, primarily focusing on forex and cryptocurrencies. However, it lacks the regulatory backing typical of reputable brokers. Established in the last decade, it operates through a web-based platform rather than industry-standard applications like MT4 or MT5. The absence of robust regulatory oversight raises significant red flags for potential investors.
Quantum Trade is not regulated by any significant financial authority, which poses a considerable risk to investors. Reports indicate that the broker has been blacklisted in Canada by the Ontario Securities Commission (OSC) due to fraudulent practices. This lack of regulation means that users have little to no recourse in case of disputes or financial losses. According to BrokersView, this unregulated status is a significant concern for any trader considering engagement with Quantum Trade.
Quantum Trade accepts various payment methods, including credit cards and cryptocurrencies, with a minimum deposit requirement of $250. However, many reviews suggest that the broker heavily favors cryptocurrency transactions, which are often untraceable and irreversible. This preference raises alarms about potential scams, as noted by Valforex. Users have reported difficulties in withdrawing their funds, often facing high fees or outright denial of their requests.
The broker offers several account types, including Basic, Standard, Silver, Gold, VIP, and Pro, with minimum deposits ranging from $250 to $250,000. However, the benefits of these accounts are questionable, as many users have indicated that the promised advantages do not materialize. According to WikiFX, the account conditions are not competitive, and the lack of transparency in terms of fees and commissions further complicates the trading environment.
While Quantum Trade advertises low spreads and no commission, user experiences suggest that hidden fees may apply, particularly during withdrawals. The broker's claims of competitive trading conditions appear to be misleading, as many users have reported unexpected costs that diminish their profitability. The lack of clarity regarding these costs is a common complaint, as highlighted by various reviews.
The trading platform provided by Quantum Trade is web-based and lacks the advanced features found in more reputable platforms like MT4 or MT5. Users have expressed frustration over the platform's usability and the absence of essential trading tools, which are critical for effective trading. According to ScamWatcher, the platform's limitations significantly impact the overall trading experience.
Customer service at Quantum Trade has been criticized for being unresponsive and unhelpful. Many users have reported that once their funds are deposited, communication with customer support becomes difficult, if not impossible. This lack of support is a significant concern for any trader, as timely assistance is crucial in the fast-paced trading environment.
Quantum Trade operates with minimal transparency regarding its geographical restrictions. However, it is apparent that the broker is not allowed to operate in several jurisdictions, including Canada, due to its unregulated status. This could potentially expose traders to legal risks if they engage with the platform.
The customer support team reportedly offers limited language options, which can hinder communication for non-English speakers. This limitation further complicates the user experience, especially for international clients.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| (Optional) Regulatory Compliance | 1 |
The account conditions at Quantum Trade are subpar, with a minimum deposit that some users find difficult to justify given the lack of regulatory oversight and transparency in fees.
The tools available on the platform are basic and do not meet the needs of serious traders. The absence of advanced trading software limits the trading strategies that users can employ.
Customer service is a significant pain point for users, with many reporting unresponsive support and difficulty in resolving issues.
The trading experience is marred by the platform's limitations and the lack of essential trading tools, leading to dissatisfaction among users.
Quantum Trade has been flagged as a scam by multiple regulatory bodies, leading to a very low trust rating among users.
Overall user experience is poor, with many users expressing frustration over the platform's functionality and customer support.
In conclusion, Quantum Trade appears to be a high-risk option for traders, primarily due to its unregulated status and numerous user complaints. Potential investors should exercise extreme caution and consider more reputable alternatives before engaging with this broker.
FX Broker Capital Trading Markets Review
