QuamTrade
Broker QuamTrade: Reviews, Trading Conditions, Withdrawal of Funds
The broker QuamTrade decided to leave its website uninformative, not indicating the country of registration, and also not providing any documentation – neither a license nor a registration certificate. There are only “internal” documents, for example, Payment Policy, Service Provision Terms, and so on.
The resource quamtrade.com is available only in Russian, the main page looks as follows.
The list of contact details is not published, there is no phone number, email, or messenger support. You can only contact support through the online chat.
In addition, the broker decided not to disclose the identities of its creators and current management. The stated start date of operation is 2016.
Trading Conditions of Quam Trade
According to this brokerage center, its users have the opportunity to earn income by investing money in global stock markets. To start working, you need to go through the following stages:
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Register. To do this, you will need to provide your email address. Opening a demo account is provided.
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Provide personal information. This is necessary for personalizing your account. Here you will need to upload some documents that would verify your identity and place of residence.
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Deposit funds.
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Start trading. First, choose an asset to work with. Then set the amount of the deal, the time of purchase. Then the order is placed to increase or decrease the price.
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Receive profits for correct forecasts. The amount of investments + the money earned on them is returned to the account balance.
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Withdraw funds. This issue will be considered separately.
According to the broker’s statement, it has some advantages that distinguish it favorably from competitors. The list of these advantages is indicated on the main page of the official website, it looks like this:
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Access to assets, the profitability of which can reach up to 91% per trade.
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Providing a convenient trading interface.
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Quick opening of deals.
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A wide selection of payment systems and fast processing of withdrawal requests.
To verify the claimed advantages, it is advisable to study the reviews about Quam Trade. Perhaps, not everything is as simple and clear as the broker wants to show. Interestingly, the quamtrade.com resource contains a section with reviews.
Of course, it makes sense to read reviews only on independent platforms.
It is worth noting that this project says very little about trading conditions. For example, the types of accounts are not specified. Accordingly, there is no information about the minimum deposit, whether leverage is provided, etc. The company also indicates the expected profitability of assets, but what exactly these assets are is not entirely clear.
There is also no information about the trading platform, its features, and capabilities. Of course, in this case, a demo account can really help by providing the opportunity to safely test the terminal, but there are no guarantees that the conditions of demo trading and real trading will be identical.
Account Funding and Withdrawal of Funds
As the broker himself claims, he offers a wide range of payment systems and fast processing of withdrawal requests. The list of supported payment systems is not available.
The company states that clients can withdraw the balance of the trading account at any time without any restrictions on the amount. However, nothing is said about whether commissions are charged.
Conclusion
Due to the poor informativeness of the website and the absence of licenses/registration documents, this broker does not appear reliable. To make a final decision, it is worth studying real reviews about QuamTrade and also finding an independent expert to consult with.