Quantums Trade review – 5 things you should know about quantums-trade.com

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Beware! Quantums Trade is an offshore broker! Your investment may be at risk.

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We are reviewing Quantums Trade, a broker claiming to offer robotic and algo trading on MetaTrader4. However, the company running this broker is registered in a shady offshore jurisdiction, so we straightforward suspected their offers could as well be fraudulent. Well, eventually, we were right, and you can see why this broker is a scam scheme in the full Quantums Trade review.

Quantums Trade REGULATION AND SAFETY OF FUNDS

Quantums Trade is a brand name of Seeger Global Ltd, a company allegedly incorporated in the Marshall Islands. We used the word “allegedly” because the island jurisdiction is a non-transparent tax haven, and it’s virtually impossible to verify there is such a business entity in existence. Worse though, the Marshall Islands do not even have a financial authority, so the brokers legally operating there are not complying with any rules whatsoever. The Marshall Islands are overcrowded with scammers entirely because there are no regulations at all.

Still, that’s not the end of the story because Quantums Trade turned out to be a blacklisted broker. The Belgian regulator FSMA detected their fraudulent activities and issued a warning against Quantums Trade, exposing it as a scam. Thus, your funds wouldn’t be safe if you make a deposit, and you should avoid the broker.

Instead, choose some of the high-rated EU brokers and British brokers on both lists if you are interested in trading. The European companies are sufficiently regulated and also covered by deposit insurance funds protecting trader’s funds. Hence, CySEC brokers’ clients can claim up to 20 000 EUR in case of insolvency, while the British guarantees are even up to 85 000 GBP. You’d better consider money protections when looking for FX companies to trade with.

Quantums Trade TRADING SOFTWARE

Quantums Trade provides their clients with MetaTrader4, but we could only access a Demo Account created within the platform. The real accounts were only available upon ID verification, and naturally, we didn’t submit any documents to this scam website. People dealing with scammers may as well become victims of Identity Theft, and you should not upload copies of your ID or bank cards. Identity Theft carries long-term risks because the swindlers can use your details to take lines of credits or incorporate companies in your name.

While discussing platforms, we can offer the high-rated MetaTrader4 brokers and MetaTrader5 brokers on both lists. MetaTrader distributions are reliable and provide sophisticated features such as Expert advisors, many complex indicators, and excellent charting tools, to name a few. The platforms also include a marketplace where traders can browse through 10 000 apps and third-party developed solutions you can deploy to achieve better results.

The EUR/USD spread is 1.5 pips, which is close to the industry standards. But as you already know, Quantums Trade is a scam, so don’t get excited. Instead, follow the links in this review to find highly reputable and well-regulated brokers, most of which will provide much tighter spreads.

The leverage is up to 1:100, a dangerous ratio that can help traders blow their accounts. In fact, due to the risks involved, many authorities had to enforce regulations to restrict leverage-related losses. Consequently, EU, British and Australian brokers have to limit the retail clients to 1:30 for FX majors, while the Canadian brokers and the US brokers can’t provide more than 1:50. Still, risk-tolerant traders can consider the Swiss brokers, which are highly reputable but not leverage restricted.

Quantums Trade DEPOSIT/WITHDRAW METHODS AND FEES

Quantums Trade doesn’t stipulate minimum deposit requirements, which is unusual for brokers. Also, we couldn’t test funding methods, but the broker indicates to accept Credit/Debit cards only. Bank cards deposits are actually seen as the safest option due to the chargeback rights granted by issuers such as Visa and MasterCard.

While discussing deposits, we’d like to offer our lists with Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have a preferred e-wallet or a trusted payment system. The high-rated companies are well-regulated, and you won’t face scammers.

The minimum withdrawal amount is $50, which is generally an unfair requirement because too few brokers impose such restrictions. However, the withdrawal provisions would alter if traders accept bonuses or other incentives. If this happens, there is a minimum trading volume requirement of the sum rewarded divided by 4 in terms of lots. In other words, 50 lots should be traded if clients accept a $200 bonus. Still, Quantums Trade is an exposed scam, so no withdrawals would actually take place.

HOW DOES THE SCAM WORK

Swindling brokers and fraudulent websites appear literally every day. Still, most of the new schemes represent a modification of common fraud that’s not typical for the local markets but similar from country to country.

Nowadays, scammers are working mostly on the Internet and social media. Classical tactics, such as cold calling, became less widespread as the Internet got prevalent. The offers scammers make look legit and present exciting opportunities to invest money in the Forex market. Traders got reassured that the people behind the broker have an excellent track record and promise high returns, seamless trading and guaranteed profits. The scammers intentionally make people believe Forex trading is risk-free, but the opposite is true in reality.

In a typical scenario, scammers just steal traders and investors money and won’t send a dollar back. Sooner or later, clients would ask for a withdrawal, but the con artists would delay or downright refuse transactions. If traders persist, scammers would find excuses to deny and would even ask for more money or simply cut the communication. Whatever the case, traders are going to lose some or all of the capital invested. At the end, when fraud becomes evident, the scammers would simply rebrand and start afresh, creating a new scheme under a different name.

WHAT TO DO WHEN SCAMMED

Unfortunately, no one is immune to scam. If you get scammed, the first thing you need to do is to protect yourself from further risk. Deactivate your card immediately, contact your bank and ask for advice.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!

Remember, it’s crucial not to rush blindly trying to recover your funds because many scam chargeback agencies and individuals are trying to double scam the victims. They ask for upfront payment, take the money, but won’t do anything to help you!

Share online your experience; it’s important to protect others, as well. Be responsible

Rich Snippet Data

Reviewer

TheForexReview

Review Date

2021-05-13

Reviewed Broker

Quantums Trade

Broker Rating

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