Overview
QuoMarkets Is An Unregulated Broker Based In Saint Vincent And The Grenadines. They Offer Trading In Forex, Spot Metals, Indices, Energy, Cryptocurrencies And Stocks. Minimum Deposits As Low As $5 Are Available To Meet The Needs Of Traders Of Varying Capital Levels. Leverage Ranges Up To 1:500 Depending On Account Balance. While Competitive Spreads As Low As 0.0 Pip Are Available For Original Accounts, Specific Spread Details For Standard Accounts Are Not Provided. QuoMarkets Offers A Range Of Desktop And Mobile Trading Platforms Including The Mt5 Series. Islamic Accounts Are Available And Customer Support Can Be Contacted Via Email, Contact Number And Call Back Request Form. Payment Methods Include Visa, Neteller, Skrill, Bank Transfers, And Cryptocurrencies. Educational Resources Are Provided Through The "Learn" Section, But It Is Worth Noting That QuoMarkets Operates Without Regulatory Oversight, Which Can Pose Risks For Traders.
Regulations
QuoMarkets, As An Unregulated Broker, Poses Significant Risks Due To The Lack Of Oversight From Any Government Or Regulatory Body. Without The Safeguards And Accountability Provided By Regulators, Investors And Traders Face Potential Pitfalls:
Accountability: Unregulated Brokers, Such As QuoMarkets, Are Not Accountable To Regulators, Which Makes It Challenging To Resolve Disputes And Prevent Fraud.
Financial Exposure: Customers' Funds At Unregulated Brokers Are Not Secured, Increasing The Risk Of Losing Their Investments Due To Mismanagement Or Bankruptcy.
Market Manipulation: Unregulated Brokers May Engage In Unethical Practices Such As Price Manipulation, Endangering Arm's Length Transactions.
Inadequate Disclosure: These Brokers Often Provide Limited Information, Leading To Unexpected Fees Or Unfavorable Trading Conditions.
Data Security: Unregulated Brokers May Not Prioritize Data Security, Thus Putting Personal And Financial Information At Risk.
Regulatory Loopholes: Some Unregulated Brokers Take Advantage Of Regulatory Loopholes To Offer Their Services Without Proper Supervision.
Given These Risks, Investors And Traders Must Exercise Caution And Consider Regulated Brokers Prioritizing Client Protection And Transparency Over Unregulated Options, Such As QuoMarkets.
Pros And Cons
QuoMarkets Offers A Diverse Selection Of Market Instruments Through Its Original Account, Convenient Trading With Low Minimum Deposits, And Competitive Spreads. Leverage Options Cater To Different Trading Styles, And The Availability Of Multiple Trading Platforms Enhances Flexibility. The Inclusion Of Islamic Accounts, A Range Of Deposit And Withdrawal Options, Convenient Customer Support And Educational Resources Contribute Positively To The Broker's Offering.
However, The Main Concern Is That QuoMarkets Operates As An Unregulated Broker. Lack Of Regulation Creates Latent Risks Including Limited Transparency, Financial Instability And Accountability Challenges. Traders Should Exercise Caution When Considering An Unregulated Broker Due To Potential Market Manipulation, Data Security Concerns, And Lack Of Regulatory Safeguards.
In Conclusion, While QuoMarkets Offers Several Favorable Aspects, The Lack Of Regulatory Oversight Raises Significant Concerns For Traders To Carefully Evaluate Before Considering This Broker As A Trading Option.
Market Tools
The Broker Offers A Wide Range Of Market Tools To Suit Different Trading Preferences And Strategies. These Tools Include Forex Currency Pairs, Spot Metals, Indices, Energy, Cryptocurrencies, And Stocks From Various Markets Around The Globe. Here Is A Breakdown Of The Available Market Tools:
Forex: The Broker Offers A Comprehensive List Of Forex Pairs, Including Major, Minor, And Exotic Currency Pairs. Traders Can Trade Currencies Using Currency Pairs Such As AUDCAD, EURUSD, USDJPY, Etc. This Diversity Allows Traders To Diversify Their Forex Portfolio And Take Advantage Of Different Market Opportunities.
Spot Metals: Precious Metals Such As Gold And Silver Can Be Traded As Spot Metals. Traders Can Speculate On The Price Movements Of XAGUSD (silver) And XAUUSD (gold), A Popular Choice For Investors Seeking A Safe-haven Asset Or An Inflation Hedge.
Indices: A Selection Of Global Indices For Traders Interested In Stock Market Performance. These Indices Include Familiar Names Such As DJI30 (Dow Jones Industries Average Index), SP500 (Standard & Poor 500), And JPN225 (Nikkei 225), Allowing Traders To Track And Trade Major Market Indices.
Energy: Energy Commodities Are An Important Part Of The Global Economy And Brokers Offer Trading Opportunities For Oil And Gas. Traders Can Speculate On Prices Such As USOUSD (crude Oil) And UKOUSD (Brent Crude Oil).
Cryptocurrency: Brokers Offer Comprehensive Cryptocurrency Pairs That Enable Traders To Participate In The Volatile And Rapidly Evolving Cryptocurrency Market. Well-known Cryptocurrencies Include BTCUSDT (Bitcoin), ETHUSDT (Ethereum) And XRPUSDT (Ripple).
Stocks: Traders Can Diversify Their Portfolios By Investing In Individual Stocks Of Well-known Companies. The Broker Offers A Wide Range Of Stock Trading Opportunities, Including Tech Giants Such As AAPL (Apple), FAANG Stocks Such As FB (Facebook), And Financial Institution Groups Such As JPM (JP Morgan).
Other Stocks: In Addition To The Aforementioned US Stocks, The Broker Also Offers Stocks In International Markets. Some Examples Include BAS (BASF SE) In Germany, BNP (BNP Paribas) In France, And Tencent In China.
Account Types
Original Account:
RAW Account Is Tailored For Traders Looking For The Narrowest Spreads And Lowest Transaction Costs. This Account Type Is Ideal For Both Beginners And Experienced Traders. The Minimum Deposit Requirement Is Only $5, Making It Convenient For A Wide Range Of Traders. Leverage Ranges From 1:1 To 1:500, Which Decreases As The Account Balance Increases. This Account Type Is Ideal For Traders Who Value The Precision Of Their Trading Strategies, As Spreads Can Be As Low As 0.0 Pips Across All Major Currencies. In Addition, Traders Can Take Advantage Of The Option Of An Islamic Account, Making It Inclusive For Those Who Adhere To The Principles Of Shariah Compliance. RAW Accounts Allow Up To 300 Unpositioned Squaring/pending Orders Per Client, Ensuring Flexibility In Managing Trading Positions.
Standard Account:
The Standard Account Is Designed For Traders Looking For A Balance Between Cost-effectiveness And Trading Conditions. It Maintains The Same $5 Minimum Deposit Requirement, Making It Available To A Wide Range Of Traders. Leverage Options Range From 1:1 To 1:500, Adjusted According To Account Balance. While Spreads May Be Slightly Higher In All Major Currencies By 0.6 Pips Compared To RAW Accounts, They Are Still Competitive. Traders Also Have The Option To Open An Islamic Account. The Standard Account Allows Up To 300 Unpositioned Squaring/pending Orders Per Client, Providing Enough Flexibility For Traders To Manage Their Positions.
Leverage
This Broker Offers Different Levels Of Leverage Depending On The Amount Of Funds In Your Trading Account. The Maximum Trading Leverage Offered By This Broker Is As Follows:
Account Balance Between $5 And $20,000 Is 1:500.
Account Balance Between $20,001 And $100,000 Is 1:200.
Account Balance Between $100,001 And Above Is 1:100.
Thus, For Smaller Account Balances, The Maximum Trading Leverage Can Be As High As 1:500 And Decreases As Your Account Balance Increases, And For Larger Account Balances Over $100,001, The Minimum Leverage Is 1:100.
Spreads And Commissions
Original Account:
Spreads: As Low As 0.0 Pips.
Commissions: No Specific Commissions Are Mentioned In The Information Provided.
Therefore, Depending On The Information Provided, Spreads And Commissions Vary Depending On The Type Of Trading Account You Choose:
Standard Account:
Spread: As Low As 0.6 Pips.
Commission: $3.00 Per Side.
The Choice Between These Accounts Will Depend On Your Trading Preferences And Whether You Prioritize Lower Spreads Or Are Willing To Accept A Commission-based Fee Structure.
Deposit And Withdrawal
Deposit Methods: VISA, Mastercard, Neteller, Skrill, Bank Telegraphic Transfer, Cryptocurrency
Withdrawal Methods: VISA, Mastercard, Neteller, Skrill, Bank Telegraphic Transfer, Cryptocurrency
Trading Platform
Desktop Platform And MT5 Platform Are Available.
Customer Support
QuoMarkets Offers You Convenient Customer Support:
Email Inquiries: Contact Support@QuoMarkets.com For Inquiries.
Office Locations: Find Them In Saint Vincent And The Grenadines And Cyprus.
Contact Number: Contact Number: 25123894.
Call Back Request Form: Use Your Details To Easily Request A Call Back.
