Quanta Trade review is dedicated to exposing a fraudulent broker company. You should not confuse Quanta Trade with Quanta Services, which is a New York Stock Exchange (NYSE) listed company.
Allegedly, this trading company offers trading with 1000+ Currencies, Stocks, Indices & Commodities. In reality, there is no trading going on since your funds will never get to the market. We are going to talk more about this later in the article.
Is Quanta Trade a Safe Broker? Regulation and Security
Quanta Trade Forex broker claims to be owned by Quanta Asset Management Limited, with registration number 04384301 and headquarters in London. When you check the UK’s register of companies you will notice that this company has nothing to do with Quanta Trade. That means they are stealing the corporate identity of a legal business that is based in the UK.
However, neither Quanta Trade nor Quanta Asset Management Limited are to be found in the FCA’s register. This means they are desperately trying to hide the fact that they are not regulated.
Quanta Trade promises leverage of 1:500. That’s another clue that they aren’t located in the UK because the FCA has a strict limit of 1:30 for the Forex market, and even lower for other assets.
In the FAQs, we found claims that this shady intermediary is regulated by the CIMA (the Cayman Islands Monetary Authority). We checked the database of this authority and the name of Quanta Trade was nowhere to be found. As we expected, Quanta Trade is not regulated anywhere.
We wanted to give this intermediary another shot so we researched several regulators – ASIC, BaFin, CONSOB, CNMV, and the result was the same. They aren’t among the regulated entities.
Quanta Trade Trading Platform
Quanta Trade promises a powerful, multi-asset institutional platform available both for PC and a web version. However, due to a validation error, we were unable to access it. So we can’t talk much about this software.
But since we are dealing with an unregulated entity there is no reason why we should waste our time talking about their software, that’s probably manipulative, anyway.
Instead of this scammer’s platform, we would advise you to go with brokers that offer industry-standard platforms like MetaTrader 4 and MetaTrader 5. If we are to get into the details, MT5 uses 64-bit architecture, while MT4 is a 32-bit non-threaded platform. The newer software also offers more technical indicators, time frames, and analytical objects, and also has a built-in economic calendar.
Quanta Trade Account Types Offered
This broker offers the following accounts:
There is no information regarding the minimum deposit. It just says “Custom”. It usually means that their employees will evaluate your financial situation and decide how much you can afford to invest. However, we did find that piece of information in the FAQ section.
Trading Instrument Available at Quanta Trade
The firm offers the following trading assets:
- Forex – EUR/USD, GBP/USD, AUD/CAD
- Commodities – gold, platinum, corn
- Indices – Dow Jones, NASDAQ, FTSE100
- Shares – Amazon, Google, Apple
- Cryptocurrencies – BTC, LTC, ETH
We can’t say whether this is true or not due to platform login issues.
Quanta Trade Deposit and Withdrawal
When it comes to available payment methods Quanta Trade allegedly accepts payments with major debit and credit cards like VISA and Mastercard, bank wire transfers, and various e-wallets – Neteller, Skrill, PayTrust, DragonPay, QIWI, Yandex, and Perfect Money among others. Once again, we can’t say if this is true.
The minimum deposit is $250. We barely managed to find this piece of information in the FAQ section, even though it’s essential. Legal companies make all of the information transparent.
They have a highly unfair clause for inactivity, that only financial swindlers use. After 45 days of inactivity, you need to pay 100 EUR. That’s at least ten times more than the industry standards – 5 to 10 dollars per month. Such fees are a rip-off.
The more we know about this broker it’s worse. There is no single positive thing about them.
How Do Fraudulent Offshore Brokers Work?
This well-organized scheme is being operated by showing Quanta Trade’s ads on social media, Youtube, Google, and wherever they can think of. They are pushy, and they are promising an easy life.
All you have to do is to leave your phone number. After that, they will call you constantly until you agree to deposit your money. Once you make the first deposit, they will push you to invest more, and more.
Once their fraud is exposed, they will just think of a new name, set up a new website, and start their operation from the beginning. These kinds of investment scams will never disappear because they will always find naive people to scam them. You shouldn’t be one of them, and instead, you should choose one of the best broker companies we’ve listed.
Best Forex Trading Firms
The most valuable asset is our time. Instead of surfing through the internet, reading forums and blogs, and desperately looking for a real-deal broker, you can take the easy road, and choose one of the several brokers we advise you to.
We have listed several reliable companies like FXTM, OctaFX, FP Markets, XM, HFM HF, and FBS Broker. Everything about them is transparent and easy to check. They are regulated, and they have years of track record in the trading market.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Quanta Trade Summary
Quanta Trade is a financial swindler that’s trying to hide the fact that they are unregulated. On the website footer, you will find the UK address. But we know that isn’t true because we checked the FCA’s register.
In the FAQ section, we found the claims that the Cayman Islands Monetary Authority (CIMA) regulates them. We checked those claims, as well, but found nothing. They are frauds.
Their trading platform is not accessible, so we can’t say anything good about that. Also, they have very high fees that legitimate businesses don’t. Stay away from them.
FAQs About Quanta Trade Broker
Is Quanta Trade a Regulated Entity?
Quanta Trade is not a regulated entity. We checked all of the regulators they mentioned, and some that didn’t, but the result was the same. Their name is nowhere to be found.
Does Quanta Trade Provide a Practice Account?
Quanta Trade doesn’t offer demo accounts. You need to deposit money to start trading.
What is the Quanta Trade Minimum Deposit Requirement?
The minimum deposit is $250, which isn’t a great offer. Especially when we know that they are unregulated.