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QuantoMarkets Review - is it scam or safe?

QuantoMarkets review - Is quantomarkets.com scam or good forex broker?

RATING: 1.1 / 0 REVIEWS QuantoMarkets
QuantoMarkets is an offshore broker. Your money is not safe.

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QuantoMarkets is an offshore forex and CFD broker offering a selection of currency pairs and some cryptro CFDs with a choice of three account types and a leverage of up to 1:300 on a web based trading platform.

 

Account type Min. deposit Max. leverage Spreads
Silver Accpunt $250 1:300 n/a
Gold Account $10 000 1:200 n/a
Premium Account $20 000 1:50 0,6 pips


QuantoMarkets Advantages:

 

Plenty of trading assets, including exotic currencies and crypto coins

 

The selection of forex pairs is not bad – over 50 pairs with a number of exotic currencies like Hungarian Forint, Polish Zloty, Swedish Krona, Norwegian Krone, Danish Krone, Chinese Yuan, Mexican Peso, Singapore Dollar, Hokg Kong Dollar, South African Rand and Turkish Liar.

 

Other trading instruments include CFDs on oil, silver and gold, as well as 9 indices, stocks and even some crypto coins – namely AICoin, Bitcoin Cash, Bitcoin, Ethereum, Monero, Ripple, Zcahs, Litecoin. Besides, here you may also check our list of brokers trading with Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Leverage of up to 1:300

 

If there is one definite advantage with QuantoMarkets this is the relatively high leverage. Take a note that since the beginning of August last year, in an effort to limit retail investment risks, the European Securities and Markets Authority caped the maximum leverage allowed with forex transactions at 1:30. And as similar restrictions are already in pace on markets like the US and Japan, that leaves Australia the only major regulatory hub, where higher leverage is still available. Here you may check our list of brokers, regulated in Australia: 

 

>>Brokers regulated in Australia<<

 

Acceptable minimum deposit requirement

 

You can start trading with QuantoMarkets with just 250 USD and this is fine. Still have in mind that some big, well established players like FBS and IG offer trading accounts without a minimum deposit requirement at all.

 

Popular e-wallets accepted as payment methods

 

QuantoMarkets accepts payments with popular e-wallets like Skrill, Neteller, WebMoney and AliPay, major credit cards like VISA and MasterCard, as well as wire transfer. However, we do not see the option to pay with Bitcoins so here you may check our list of brokers, accepting Bitcoins as a payment method:

 

>>Forex Brokers Accepting Bitcoin<<

 

QuantoMarkets Disadvantages:

 

An offshore broker without a license

 

QuantoMarkets is owned and operated by Quanto Global Corp – a company based on the Marshall Islands, but all Payment Processing is provided by GIM Limited with a contact address in Budapest Hungary.

 

Unfortunately our research shows that both companies are not licensed to provide financial services on regulated markets like the European Union or Australia and that significantly lowers the reputation of the broker.

 

As a rule, unregulated, offshore brokers are not to be trusted as they are completely unaccountable for the funds invested with them.

 

Brokers regulated by official financial authorities like the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC) on the other hand are reliable as they have to follow strict rules, among which to to provide a negative balance protection to their clients, to keep all trader's funds in a segregated, from their own account, to file regular reports, to allow external audits, to maintain at all times a certain minimum operational capital and even to insure part of the invested capital. 

 

You may not know, but if you trade with a FCA regulated broker the first 50 000 GBP in your trading account will be covered by a special compensation fund, even if your broker happens to be insolvent. Similarly, with a CySEC broker the insured amount is 20 000 EUR. Besides, here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

No demo account available 

 

Unfortunately, the broker does not offer a demo account so we were not able to have a taste of the trading conditions first hand. Certainly, attractive spreads are promised with the premium accounts, but we can not say what they are with the opening Silver Account, which is the only one without an excessively high minimum deposit requirement - for the Gold and the Premium accounts you will have to invest at least 10 000 USA or 20 000 USD respectively. And besides, here you may check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Be aware of the trading bonuses offered by QuantoMarkets

 

If you accept a trading bonus by the broker you will be able to withdraw your profit only after you have reached a trading volume of at least 10 000 times the bonus. (One standard lot equals 100 000 base currency units.) See for your self:

 

 

MetaTrader4 not supported

 

On first sight the web based trading platform offered by QuantoMarkets looks neat as charts are provided by TradinView and yet, the platform lacks many standard features available with well known trading solutions like the MetaTrader4.

 

 

For example we miss the option to run automated trading sessions with the help customizable trading bots, as well as the numerous market indicators. So here you may also check our list of brokers, supporting MetaTrader4:

 

>>MT4 Brokers<<

 

Conclusion:

 

We will not recommend you to trust your money with the broker for two reasons – QuantoMarkets is an offshore broker without a license and that makes them totally unreliable and second we are not sure about the trading conditions they offer with their standard account, and you can always chose from reliable well established brokers like FXTM, EasyMarkets, XM, FXCM, FxPro and FBS which are properly licensed and offer tighter spreads.

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Traders` reviews for QuantoMarkets

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