According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- MetaTrader5
- FSCA
Our Evaluation of QuickTrade
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
QuickTrade is a moderate-risk broker with the TU Overall Score of 5.12 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by QuickTrade clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
QuickTrade is focused on working with traders from African countries, but it also serves other jurisdictions. It offers accounts with various conditions and implements mechanisms to protect client funds and accounts.
Brief Look at QuickTrade
QuickTrade is a financial company with over 20 years of experience in the financial markets, providing advisory and brokerage services. It is licensed by the South African regulator FSCA (The Financial Sector Conduct Authority). With offices in African countries and the U.S., QuickTrade acts as a liquidity provider for its clients, including institutional ones. Its MT5 platform offers CFD trading on currency pairs, U.S. stocks, global indices, and commodities.
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- Licensed by a reputable South African regulator.
- No minimum deposit requirement.
- A choice of live accounts with different commission models.
- Partnership rewards range from $3 to $10 per referred lot.
- Access to fully automated trading and signal copying from QuickTrade’s in-house analysts.
- Demo account and educational materials for Forex beginners.
- Account protection through two-factor authentication
- Trading conditions are not specified on the website and must be requested from a client manager.
- Spreads on major currency pairs are higher than those of other brokers.
- Managed accounts are not available.
TU Expert Advice
Author, Financial Expert at Traders Union
QuickTrade offers a diverse range of financial instruments through the MetaTrader 5 platform, catering to both Forex and CFD traders. It supports trading currency pairs, U.S. stocks, global indices, and commodities, with leverage up to 1:1000. Traders benefit from no minimum deposit requirements and the availability of various account types, including demo and Islamic accounts. The broker provides educational materials and copy trading services, enhancing the trading experience for both beginners and experienced traders.
However, QuickTrade faces some drawbacks, such as limited information on trading conditions and higher-than-average spreads on major currency pairs. Managed accounts and certain payment methods like credit cards are not available, which may affect traders looking for flexibility and advanced portfolio management. Overall, QuickTrade may appeal to traders prioritizing leverage and those comfortable with its offered payment systems and trading costs.
QuickTrade Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 5 |
|---|---|
| 📊 Accounts: | Demo, Commission Based Account, Spread Based Account, Bonus Trading Account, Islamic Account |
| 💰 Account currency: | USD, ZAR |
| 💵 Deposit / Withdrawal: | Payfast, Skrill, Paygate, online banking, bank transfer via Electronic Funds Transfer (EFT) or OZOW |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | Up to 1:1000 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 1,2-2,0 pips |
| 🔧 Instruments: | Currency pairs, CFDs on stocks, stock indices, commodities such as metals and energies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | Proprietary aggregator |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market Execution |
| ⭐ Trading features: | EAs are prohibited |
| 🎁 Contests and bonuses: | 100% bonus on the first deposit |
QuickTrade does not impose a minimum requirement for the initial deposit. Traders can deposit any amount, but it must be sufficient not only to open a trade but also to cover the broker’s commission and meet margin requirements if leverage is used. The minimum trade size is 0.01 lots for currencies, indices, and commodities, and 1.0 lots for stocks. The available leverage depends on the account balance and market volatility.
QuickTrade Key Parameters Evaluation
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Trading Account Opening
Account opening and management are carried out through the user account, so creating one is the first step to start trading with QuickTrade.
The first step is to initiate registration on the official QuickTrade website. To do this, click "Start Trading" or “Trade Now.”
Provide your personal information, including your first name, last name, date of birth, phone number, address, and email. Upload two documents to verify your identity and residence. Your information is sent to the Financial Intelligence Centre (FIC). Once verified, the broker opens a live account and sends the details including account number and password via email or SMS.
Features of QuickTrade’s user account:
Additional features of QuickTrade’s user account allow traders to:
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Deposit funds and withdraw money.
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Create demo accounts.
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Use the economic calendar.
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Enable two-factor authentication.
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View IB program statistics.
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Copy personal manager contacts.
Regulation and safety
QuickTrade has a safety score of 5.8/10, which corresponds to a Medium security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Not tier-1 regulated
- Track record of less than 8 years
QuickTrade Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 FSCA SA |
Financial Sector Conduct Authority of South Africa | South Africa | No specific fund | Tier-2 |
QuickTrade Security Factors
| Foundation date | - |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker QuickTrade have been analyzed and rated as High with a fees score of 4/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of QuickTrade with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, QuickTrade’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
QuickTrade Standard spreads
| QuickTrade | Pepperstone | OANDA | |
| EUR/USD min, pips | 1,2 | 0,5 | 0,1 |
| EUR/USD max, pips | 2,0 | 1,5 | 0,5 |
| GPB/USD min, pips | 1,6 | 0,4 | 0,1 |
| GPB/USD max, pips | 2,5 | 1,4 | 0,5 |
Does QuickTrade support RAW/ECN accounts?
As we discovered, QuickTrade does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with QuickTrade. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
QuickTrade Non-Trading Fees
| QuickTrade | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | 10 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
QuickTrade offers various account types that differ in commission calculation models and amounts, as well as the availability of additional options such as bonuses and swaps. Trading on any of the available accounts can begin with any amount, as the broker does not require a minimum initial deposit.
Account types:
Traders can test the Spread-Based Account conditions with a demo account. However, to open a live account, verification of identity and address is required through the uploading of necessary documents.
QuickTrade offers a variety of trading conditions across its accounts to cater to different trading styles and strategies.
Deposit and withdrawal
QuickTrade received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
QuickTrade offers limited payment options and accessibility, which may impact its competitiveness.
- Low minimum withdrawal requirement
- No withdrawal fee
- Minimum deposit below industry average
- No deposit fee
- No bank card option
- Limited deposit and withdrawal flexibility, leading to higher costs
- BTC not available as a base account currency
What are QuickTrade deposit and withdrawal options?
QuickTrade offers a limited selection of deposit and withdrawal methods, including Bank Wire, Skrill. This limitation may restrict flexibility for users, making QuickTrade less competitive for those seeking diverse payment options.
QuickTrade Deposit and Withdrawal Methods vs Competitors
| QuickTrade | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | No | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | No | No | No |
What are QuickTrade base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. QuickTrade supports the following base account currencies:
What are QuickTrade's minimum deposit and withdrawal amounts?
The minimum deposit on QuickTrade is $1, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact QuickTrade’s support team.
Markets and tradable assets
QuickTrade offers a limited selection of trading assets compared to the market average. The platform supports 184 assets in total, including 90 Forex pairs.
- Copy trading platform
- 90 supported currency pairs
- Indices trading
- Futures not available
- Limited asset selection
Supported markets vs top competitors
We have compared the range of assets and markets supported by QuickTrade with its competitors, making it easier for you to find the perfect fit.
| QuickTrade | Plus500 | Pepperstone | |
| Currency pairs | 90 | 60 | 90 |
| Total tradable assets | 184 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | No | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products QuickTrade offers for beginner traders and investors who prefer not to engage in active trading.
| QuickTrade | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Customer support
The company provides trading support from Monday to Friday from 08:00 to 16:30. Technical support is available from Monday to Saturday from 08:00 to 22:00, and on Sunday from 08:00 to 16:30. The times are given in UTC+02:00.
Advantages
- The chat operates 7 days a week
- Personal manager assistance is available
Disadvantages
- There is no 24/7 access to the support team
- To contact a live person in chat, you need to provide your phone number
Traders can contact QuickTrade through the following methods:
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Online chat on the website and user account.
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Phone communication.
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Email.
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WhatsApp.
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Feedback form.
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Social media.
Clients can visit the company's offices in 8 countries for in-person assistance.
Contacts
| Registration address | QuickTrade (PTY) Ltd, Plot 54368, Western Commercial Road, Ground & First Floor, The Hub, iTowers, CBD, Gaborone, Republic of Botswana |
|---|---|
| Regulation | FSCA |
| Official site | https://www.quicktrade.world/ |
| Contacts |
+27 82 908 3332, +27 76 614 7399
|
Education
The Blogs section on the company’s website contains a wealth of useful information for beginners. The content is organized by category, making it easy to find the relevant section. The basics of Forex trading are covered in the Education block.
To psychologically prepare for high-risk trading, it is recommended to start by trading on a demo account. It also helps in gaining experience in market analysis.
Comparison of QuickTrade with other Brokers
| QuickTrade | Eightcap | XM Group | RoboForex | Exness | Octa | |
| Trading platform |
MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MetaTrader4, MetaTrader5, OctaTrader |
| Min deposit | $1 | $100 | $5 | $10 | $10 | $25 |
| Leverage |
From 1:1 to 1:1000 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:40 to 1:1000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | 10.00% | No | No |
| Spread | From 0 points | From 0 points | From 0.8 points | From 0 points | From 0 points | From 0.6 points |
| Level of margin call / stop out |
No | 80% / 50% | 100% / 50% | 60% / 40% | 60% / No | 25% / 15% |
| Order Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | Yes | Yes | No |
Detailed Review of QuickTrade
QuickTrade is a licensed provider of over-the-counter derivatives. However, it is not an STP or ECN broker, as it does not pass trades on to a liquidity provider but acts as the liquidity provider itself. QuickTrade offers two pricing models, leverage up to 1:1000, free trading signals, and both technical and trading support. Islamic accounts in USD/ZAR and a demo mode of the trading platform are available to traders.
QuickTrade’s by the numbers:
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Over 20 years of experience as a broker and investment advisor.
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8 offices in different countries.
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185+ trading instruments with leverage up to 1:1000.
QuickTrade is a regulated broker offering the most traded instruments with dynamic leverage
By default, all QuickTrade accounts have leverage up to 1:100. An increase in leverage can be requested through a support manager. The maximum leverage of 1:1000 is only provided for accounts with balances below $400 or ZAR 4,000. However, QuickTrade may reduce leverage in case of increased market volatility or if the account is not funded within 30 days after the increased leverage is granted.
The assets available at QuickTrade include CFDs on 120 U.S. stocks and 53 currency pairs. The selection of indices and commodities is somewhat limited, including indices such as Nasdaq, Dow Jones, SP500, FTSE100, Hang Seng, CAC40, ASX200, and metals such as gold, silver, platinum. Energies, including natural gas, Brent and WTI oil, are also available. Trading is conducted on the MetaTrader 5 platform, which includes 38 indicators, 44 analytical objects, and an economic calendar.
QuickTrades analytical services:
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A website section with the latest market news.
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A blog with useful information for beginner traders.
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Two-factor account authentication.
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An economic news calendar with real-time updates.
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A trading room via ZOOM for advice and recommendations from qualified trading experts.
Advantages:
Award-winning MT5 trading platform.
Negative balance protection.
Client deposits are held in segregated accounts at major South African banks.
Leverage limits during sharp market movements.
Real-time market data.
Upon account registration, a support manager is assigned to the account; contact details can be found in the user account. The manager can assist with account selection, registration, verification, and more.
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