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Quitrade

United States|1-2 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.portal.quitradeprofx.com/

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+1 7707429012
support@quitradeprofx.com
https://www.portal.quitradeprofx.com/

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No valid regulatory information, please be aware of the risk!

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Warning: Low score, please stay away!
Previous Detection : 2024-03-02
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Quitrade · Company Summary

Quitrade Basic Information
Company Name Quitrade
Founded 2023
Headquarters United States
Regulations Not regulated
Tradable Assets CRYPTOS, FOREX, EXERGIES, SHARES, OPTION, ETFS
Account Types Standart, Premium, MT5
Minimum Deposit 500 USD
Maximum Leverage 1:1000
Spreads Varies by account type
Commission Varies by account type
Deposit Methods Ethereum, Bitcoin, Litecoin, Perfect Money
Trading Platforms MT5 Desktop, MT5 Mobile
Customer Support Phone support, Email support
Education Resources Webinars, Calendar webinars, E-book
Bonus Offerings None

Overview of Quitrade

Quitrade, established with a commitment to providing a comprehensive trading experience, offers a diverse range of financial instruments and account types catering to traders of varying expertise levels. With a robust suite of trading platforms, including the widely acclaimed MetaTrader 5 (MT5) for both desktop and mobile devices, Quitrade empowers traders with advanced tools for real-time market analysis and efficient order execution. The platform supports various trading instruments, including cryptocurrencies, forex, energies, shares, options, and ETFs, allowing users to diversify their portfolios and engage in a wide array of markets.

The account types—Standart, Premium, and MT5—offer flexibility to traders based on their preferences and financial goals, each accompanied by distinct features and benefits. Quitrade's leverage of up to 1:1000 provides traders with the ability to control larger positions, although careful risk management is essential. The platform's transparent fee structure encompasses competitive spreads and, depending on the account type, potential commissions. Quitrade also offers a variety of deposit and withdrawal methods, embracing cryptocurrencies like Ethereum and Bitcoin, as well as traditional options like Perfect Money.

Overview of Quitrade

Is Quitrade Legit?

Quitrade is not regulated. It is important to note that this broker does not have any valid regulation, which means it operates without oversight from recognized financial regulatory authorities. Traders should exercise caution and be aware of the associated risks when considering trading with an unregulated broker like Quitrade, as there may be limited avenues for dispute resolution, potential safety and security concerns regarding funds, and a lack of transparency in the broker's business practices. It is advisable for traders to thoroughly research and consider the regulatory status of a broker before engaging in trading activities to ensure a safer and more secure trading experience.

Is Quitrade Legit?

Pros and Cons

Quitrade presents a varied selection of assets, including cryptocurrencies, forex, and commodities, expanding trading possibilities for users. The accessibility of the MetaTrader 5 (MT5) platform on desktop and mobile devices ensures convenient access to sophisticated trading tools. The platform maintains clear fee structures and spreads, aiding users in comprehending their trading costs. Nevertheless, the elevated leverage on Quitrade may pose heightened risks, particularly for less experienced traders. Additionally, the restricted deposit and withdrawal options could be a drawback for certain users. Despite offering responsive customer support, Quitrade's market recognition is still evolving, distinguishing it less prominently compared to larger platforms. Traders exploring a wide asset range and advanced tools may consider Quitrade, emphasizing the importance of risk awareness and thorough examination of available features.

Pros Cons
  • Diverse range of tradable instruments
  • High leverage poses potential for increased risk
  • Powerful MetaTrader 5 platform
  • Limited options for deposit/withdrawal methods
  • Transparent spreads and fees
  • Fee structure may not be the most cost-effective
  • Accessibility on desktop and mobile devices
  • Limited educational resources
  • Responsive customer support
  • Limited recognition compared to larger platforms

Trading Instruments

Quitrade provides a diverse range of trading instruments to cater to the varied preferences and strategies of its users. These instruments include:

1.Cryptocurrencies: Quitrade offers a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple. Traders can engage in cryptocurrency trading against fiat currencies or other cryptocurrencies.

2.Forex: The platform provides over 80 forex pairs, covering major, minor, and exotic pairs. Forex trading is available 24/5, allowing traders to participate in the global foreign exchange market.

3.Energies: Quitrade offers energy commodities trading, including oil, natural gas, and electricity. Traders can access futures contracts for energy commodities.

4.Shares: Quitrade's selection includes stocks, ETFs, and ADRs. Traders can trade shares on various global exchanges, providing opportunities for diverse investment strategies.

5.Options: The platform offers a variety of options contracts, such as calls, puts, and straddles. This enables traders to hedge against risk or speculate on market directions.

6. ETFs: Quitrade's ETF offerings include those tracking major market indices, specific market sectors, and commodities. Traders can use ETFs for portfolio diversification and exposure to different asset classes.

Trading Instruments

Here is a comparison table of trading instruments offered by different brokers:

Broker Forex Metals Crypto CFD Indexes Stocks ETFs
Quitrade Yes No Yes No No Yes Yes
AMarkets Yes Yes No Yes Yes Yes No
Tickmill Yes Yes Yes Yes Yes Yes No
EXNESS Group Yes Yes Yes Yes Yes Yes No

Account Types

Quitrade caters to diverse trader needs through its three distinct account types: Standart, PREMIUM, and MT5, each offering unique features and advantages.

  1. Standart: The Standart account serves as the foundational option, with a minimum deposit requirement of $5,000 and a maximum deposit cap of $250,00. Traders opting for the Standart account enjoy a daily profit rate of 2.5%, providing a steady return on their investment.

  1. PREMIUM: For those seeking a more advanced trading experience, the PREMIUM account presents an attractive option. Requiring a minimum deposit of $100,00 and accommodating deposits up to $1,000,00, the PREMIUM account offers enhanced benefits. Traders holding PREMIUM accounts can anticipate a higher daily profit rate of 3.3%, reflecting the increased potential for returns.

  1. MT5: The MT5 account stands as the pinnacle of Quitrade's offerings, designed for seasoned and sophisticated traders. With a minimum deposit of $20,00 and a maximum deposit of $10,000, the MT5 account provides access to advanced features and tools. Traders with MT5 accounts benefit from a substantial monthly profit rate of 35%, emphasizing the potential for more substantial returns over a slightly longer timeframe. These account options allow Quitrade users to tailor their trading experience according to their expertise, preferences, and financial goals.

Account Types

How to Open an Account?

To open an account with Quitrade, follow these steps.

  1. Visit the Quitrade website. Look for the “Sign up” button on the homepage and click on it.

How to Open an Account?
  1. Sign up on websites registration page.

How to Open an Account?
  1. Receive your personal account login from an automated email

  2. Log in

  3. Proceed to deposit funds to your account

  4. Download the platform and start trading

Leverage

Quitrade provides traders with a robust leverage offering, allowing for enhanced control over their positions. Across all its trading accounts, users can access leverage of up to 1:1000. This implies that for every $1 deposited into their account, traders can control assets valued at up to $1,000. Leverage serves as a potent tool for amplifying potential profits, particularly in markets with price fluctuations.

It's important to note that while leverage can amplify gains, it also introduces an element of risk. In the event of adverse market movements, traders stand to incur losses exceeding their initial deposit. Quitrade extends leverage across its comprehensive range of trading instruments, including forex, cryptocurrencies, energies, shares, options, and ETFs. The maximum leverage available varies depending on the specific trading instrument.

Traders are strongly encouraged to assess their risk tolerance and market understanding before engaging in leveraged trading. While it presents an opportunity for increased profitability, prudent risk management is crucial to navigate the potential downsides associated with leverage, ensuring a balanced and informed approach to trading on the Quitrade platform.

leverage

Here is a comparison table of maximum leverage offered by different brokers:

Broker Quitrade Libertex XM RoboForex
Maximum Leverage 1:1000 1:30 1:888 1:2000

Spreads and Commissions

Quitrade employs a transparent fee structure across its three account types: Standart, Premium, and MT5.

  1. Standart account: For the Standart account, traders benefit from competitive spreads that reflect the price difference between buying and selling on various assets. Additionally, there is no explicit commission mentioned for this account type, making it particularly suitable for those who prioritize straightforward fee structures.

  1. Premium account: Moving to the Premium account, traders enjoy similar benefits in terms of competitive spreads. However, in this advanced account category, traders may encounter a commission fee in exchange for the premium features and increased profit potential offered by this account type. The specific commission rate would depend on the trades executed and the overall trading activity.

  1. MT5 account: The MT5 account, designed for seasoned traders, comes with its own fee structure. Traders utilizing the MT5 account may experience wider spreads compared to the other account types, but in return, they benefit from the platform's advanced tools and features. Similar to the Premium account, the MT5 account may involve commission charges, aligning with the enhanced capabilities and opportunities it provides.

It's essential for traders to carefully consider their trading preferences, strategies, and cost considerations when selecting an account type on Quitrade, ensuring alignment with their financial goals and risk tolerance.

Non-Trading Fees

Quitrade implements several non-trading fees that traders should be aware of:

  1. Excess Spread Fee: This fee is applied when trades deviate from the specified spread. Quitrade charges a fee equivalent to the amount by which the spread exceeds the predefined limits. Traders should monitor their trades to ensure they align with the specified spread parameters to avoid incurring excess spread fees.

  1. Inactivity Fee: Traders with accounts that remain dormant for a certain period may encounter an inactivity fee. The fee is calculated as a percentage of the account balance and varies based on both the account type and the duration of inactivity. It serves as an incentive for active trading and portfolio management.

  1. Margin Call Fee: In cases where an account falls short of meeting the minimum margin requirement, Quitrade imposes a margin call fee. This fee is calculated as a percentage of the deficit in margin, acting as a mechanism to prompt account holders to address insufficient margin levels promptly.

  1. Overnight Financing: For positions held overnight, Quitrade charges overnight financing. The amount is determined by the interest rate differential between the currencies involved in the trading pair. Traders should consider these financing charges when holding positions overnight to make informed decisions about their trading strategies.

Being mindful of these non-trading fees is crucial for traders using Quitrade to ensure a clear understanding of the associated costs and to incorporate them into their overall trading strategy.

Deposit & Withdraw Methods

Quitrade facilitates seamless financial transactions for its users through a range of deposit and withdrawal methods. Traders can leverage the following options for managing their funds on the platform:

  1. Ethereum (ETH): Quitrade supports both deposits and withdrawals in Ethereum. Users can utilize their Ethereum wallets to securely transfer funds to and from their trading accounts, providing a convenient and widely-used cryptocurrency option.

  1. Bitcoin (BTC): Bitcoin enthusiasts will find Quitrade accommodating, as the platform allows for both deposits and withdrawals in Bitcoin. Traders can employ their Bitcoin wallets to efficiently manage their cryptocurrency transactions on the platform.

  1. Litecoin (LTC): Quitrade extends its support to Litecoin, enabling users to deposit and withdraw funds using their Litecoin wallets. This inclusion caters to those who prefer the features and advantages offered by Litecoin within their trading activities.

  1. Perfect Money: Quitrade facilitates transactions using Perfect Money, offering users the option to deposit and withdraw funds through their Perfect Money accounts. This method provides a more traditional and widely accepted approach, appealing to traders who prefer the convenience and accessibility of Perfect Money services.

By incorporating a diverse array of deposit and withdrawal methods, Quitrade aims to accommodate the preferences and needs of a broad user base, whether they are more inclined towards cryptocurrencies like Ethereum and Bitcoin or traditional payment methods such as Perfect Money.

Deposit & Withdraw Methods

Trading Platforms

Quitrade delivers a versatile trading experience through its comprehensive range of trading platforms tailored for both desktop and mobile users.

  1. MT5 Desktop: Quitrade offers the MetaTrader 5 (MT5) desktop platform, a widely acclaimed and robust trading tool. MT5 provides traders with a suite of advanced features, including real-time market data, sophisticated charting tools, and efficient order execution capabilities. Compatible with Windows, macOS, and Linux operating systems, MT5 Desktop ensures a seamless and powerful trading experience for users on various desktop platforms.

  1. MT5 Mobile: Recognizing the importance of flexibility and on-the-go accessibility, Quitrade extends its offerings to the MT5 mobile platform. Available for both iOS and Android devices, the MT5 mobile app empowers traders to manage their accounts and execute trades from any location worldwide. The mobile platform mirrors the capabilities of its desktop counterpart, providing a full-featured experience with real-time market data, advanced charting tools, and efficient order execution, ensuring traders can stay connected to the markets at all times.

By offering these diverse and user-friendly trading platforms, Quitrade aims to meet the preferences and requirements of a broad spectrum of traders, whether they are operating from the convenience of their desktop or seeking the flexibility of mobile trading.

Customer Support

Quitrade prioritizes customer satisfaction by providing accessible and responsive customer support services. Traders can reach out for assistance through multiple channels, ensuring prompt resolution of queries and concerns.

  1. Phone Support: Quitrade offers direct phone support through the number +1 7707429012. This enables traders to connect with a customer support representative for real-time assistance, enhancing the overall support experience.

  1. Email Support: Traders can also reach out to Quitrade's customer support team via email at support@quitradeprofx.com. Email support allows for detailed communication, giving traders the flexibility to articulate their questions or concerns thoroughly.

Educational Resources

Quitrade offers a variety of educational resources to help its clients learn about the markets and how to trade. These resources include:

  1. Webinars: Quitrade offers a variety of webinars on a variety of topics, including forex trading, cryptocurrency trading, and technical analysis. The webinars are led by experienced traders and are designed to help traders of all experience levels learn new skills and improve their trading results.

  1. Calendar webinars: Quitrade offers a calendar of upcoming webinars so that clients can easily find the webinars that are of interest to them.

Educational Resources
  1. E-books: Quitrade offers a variety of e-books on a variety of topics, including forex trading, cryptocurrency trading, and technical analysis. The e-books are designed to provide traders with a comprehensive overview of the topic and to help them develop a trading strategy.

Conclusion

Quitrade offers a variety of assets to trade with clear fees and competitive spreads, especially using the powerful MetaTrader 5 platform. However, it's important to be cautious with the high leverage they provide, as it can increase risks, especially for beginners. The limited options for deposit and withdrawal might be a drawback for some users. While customer support is responsive, Quitrade is still gaining recognition in comparison to more well-known platforms. Traders should weigh these pros and cons, considering their experience and preferences, before choosing Quitrade for their trading needs.

FAQs

Q: What trading instruments are available on Quitrade?

A: Quitrade offers a diverse range of tradable assets, including cryptocurrencies like Bitcoin and Ethereum, forex pairs, energies such as oil and natural gas, shares, options contracts, and ETFs.

Q: Can I trade on Quitrade using my mobile device?

A: Yes, Quitrade provides a mobile trading option through the MetaTrader 5 (MT5) mobile app, allowing users to trade on both iOS and Android devices with the same features as the desktop platform.

Q: What are the account types on Quitrade, and how do they differ?

A: Quitrade offers three account types: Standart, Premium, and MT5. Each type comes with varying features, minimum deposits, and potential profits, catering to different trader preferences and experience levels.

Q: How can I deposit funds into my Quitrade account?

A: Quitrade supports various deposit methods, including Ethereum, Bitcoin, Litecoin, and Perfect Money. Traders can use their respective wallets for these cryptocurrencies or their Perfect Money accounts.

Q: What is the maximum leverage offered on Quitrade?

A: Quitrade provides leverage of up to 1:1000 on all trading accounts, allowing traders to control a more substantial position with a relatively smaller deposit. However, it's important to use leverage cautiously due to the associated risks.

Q: Are there any non-trading fees on Quitrade?

A: Yes, Quitrade charges non-trading fees, including excess spread fees, inactivity fees, margin call fees, and overnight financing fees, which traders should be aware of for a complete understanding of associated costs.

Q: How can I contact Quitrade's customer support?

A: Quitrade offers customer support through both phone and email. Traders can reach the support team by calling +1 7707429012 or sending an email to support@quitradeprofx.com for assistance with any queries or concerns.

Broker Information

Company Name

Quitrade

Company Abbreviation

Quitrade

Regulatory Status

No Regulation

Platform registered country and region

United States

Phone of the company
  • +1 7707429012

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Customer Service Email Address
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Company Summary

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Mtab
3-6months
It is a complete fraud, they do not let you withdraw any of your money after you win them in the trading, they assign a coach to you just to convince you in adding bigger amounts and they keep pushing and showing you that you are winning with the small amount you invested, I tried just to withdraw $ 200 as a test before I invest 10,000 and thanks God this test revealed their real face. they took my money around $ 1000 and blocked my account.
2023-11-23 14:32
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