QuoMarkets 2025 Review: Everything You Need to Know
QuoMarkets has garnered significant attention in the forex trading community, but the reviews are far from positive. This offshore broker, operating under the name Dventure Markets Limited, has raised numerous red flags regarding its legitimacy and regulatory compliance. Key findings suggest that QuoMarkets lacks proper licensing, offers high leverage, and has received numerous complaints about withdrawal issues.
Note: It's essential to consider that QuoMarkets operates across different jurisdictions, which can complicate the evaluation of its legitimacy. We strive for fairness and accuracy in our assessment.
Ratings Overview
We rate brokers based on comprehensive research, user feedback, and expert opinions.
Broker Overview
QuoMarkets is an offshore forex broker established in Saint Vincent and the Grenadines (SVG). It operates under Dventure Markets Limited and claims to offer trading through the popular MetaTrader 5 (MT5) platform. The broker provides access to various asset classes, including forex, cryptocurrencies, commodities, indices, and stocks. However, it is crucial to note that QuoMarkets does not hold a legitimate forex trading license, which raises concerns about the safety and security of client funds.
Detailed Section
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Regulatory Regions: QuoMarkets operates without regulatory oversight from recognized authorities. The SVG Financial Services Authority explicitly states that it does not issue licenses for forex trading, indicating that QuoMarkets is unregulated and poses significant risks to investors.
Deposit/Withdrawal Currencies/Cryptocurrencies: The broker supports deposits and withdrawals through various methods, including credit/debit cards, wire transfers, and cryptocurrencies like Bitcoin and Ethereum. However, the lack of transparency around fees is concerning.
Minimum Deposit: The minimum deposit requirement is set at a mere $5, which may seem attractive to new traders but is indicative of the broker's strategy to entice inexperienced investors.
Bonuses/Promotions: QuoMarkets has been noted for offering bonuses, but such promotions often come with stringent conditions that make it difficult for traders to withdraw their funds.
Available Asset Classes: The broker claims to offer a wide range of trading instruments, including major forex pairs, commodities like oil and gold, indices such as the S&P 500, and popular cryptocurrencies.
Costs (Spreads, Fees, Commissions): Spreads can be as low as 0.0 pips for raw accounts, but a commission of $3 per lot applies. For standard accounts, spreads start at 0.6 pips with no commissions. However, the overall cost structure remains opaque.
Leverage: QuoMarkets offers high leverage of up to 1:500, which, while appealing, is risky and not compliant with regulations imposed by reputable financial authorities.
Permitted Trading Platforms: The broker provides trading via the MT5 platform, known for its advanced features and user-friendly interface. However, the absence of a demo account limits traders' ability to practice before investing real money.
Restricted Regions: QuoMarkets does not accept clients from certain jurisdictions, including the United States, but reports indicate that it may not strictly enforce these restrictions.
Languages Available for Customer Support: Customer support is reportedly available via email, but the lack of a dedicated phone line raises concerns about the broker's commitment to client service.
Ratings Breakdown
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Account Conditions (3/10): The minimum deposit is low, but the lack of a demo account and high leverage raise concerns about the broker's intent to protect traders.
Tools and Resources (4/10): While MT5 is a robust platform, the absence of educational resources and market analysis tools diminishes its value.
Customer Service and Support (3/10): Limited contact methods and poor responsiveness contribute to a negative user experience.
Trading Setup (4/10): The trading conditions appear attractive on the surface, but the lack of transparency and regulatory compliance is alarming.
Trustworthiness (2/10): The absence of legitimate regulation and numerous complaints about withdrawal issues severely undermine trust in QuoMarkets.
User Experience (3/10): User reviews indicate a trend of negative experiences, particularly regarding withdrawals and customer support.
Conclusion
In summary, QuoMarkets presents itself as an enticing broker with low minimum deposits and a wide range of trading instruments. However, the absence of regulatory oversight, coupled with numerous complaints from users about withdrawal issues and customer service, paints a concerning picture. Potential investors are strongly advised to exercise caution and consider regulated alternatives to safeguard their funds. Always conduct thorough research before engaging with any trading platform, especially those that operate without proper licensing.
