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Quanta Trade Review: We Exposed Quanta Trade Scam
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Another name added to the ever-growing list of fraud brokers is Quanta Trade. Their webpage looks more like an advertisement than a place where you’d like to trade.
The broker doesn’t have a valid license and offers no clues as to who is behind this shady business.
As far as their offer is concerned, Quanta Trade offers their customers leverage of 1:1000 which is crazy by any standard. Even though they claim to be one of the leading brokers in the world market, there are no real facts to support this wild claim.
Their unregulated operations and subpar trading platform are good reasons to label them as a fraudster.
If you want to know the details of what exposes a fraudulent broker as a scammer, and how you can stay safe, read our Quanta Trade review in its entirety.
Quanta Trade Regulation and Security
Quanta Trade’s regulation is well hidden within the crevices of FAQs on their site. Bear in mind that any legitimate broker would make their license and any relevant legal documents readily available to their future clients.
The company claims to be regulated by the Cayman Islands Monetary Authority (CIMA). Cayman Islands are a notorious offshore zone, offering coverage for bogus brokers such as this one. Licenses issued by CIMA generally aren’t worth all that much. Having a license issued by CIMA definitely doesn’t guarantee any security to clients who want to start trading. To make matters worse, after looking through CIMA’s registry, we found out that Quanta Trade isn’t registered with them which means that they don’t really have a license.
The company has a number of other red flags to watch out for too. For example, they claim that their head offices are located in London, UK. This is most probably not true, as it would require their web location to be registered by the FCA, the local Financial Conduct Authority.
All of this only further emphasizes that Quanta Trade is nothing more but a scam broker.
Trading Software Overview
Same as other bogus brokers, Quanta Trade claims to offer a cutting-edge trading platform with a wide array of advanced tools. Taking a look at this would be a technological marvel that would require us to leave personal information to them, which is something you should never do if you suspect the site to be a scam.
Being unable to acquire any details regarding their platform, we can only say that it appears to be web-based. Suffice it to say, that web-based platforms simply can’t stand up to platforms such as Meta Trader 4 or 5, which are the most popular choice for leading world brands.
Quanta Trade Account Offered
Quanta Trade scam offers its victims 4 types of accounts, which might be confusing as all accounts offer the same trading conditions, the same leverage, and have the same minimum deposit. It looks like someone got lazy here. The accounts are
- Expert, and
The only thing that is different about these accounts is their names. Oversights like these are common with scam brokers. Since they don’t offer a demo account, we could not provide any more details.
What Trading Instruments Does Broker Offer?
Quanta Trade offers its users trading in:
- commodities, and
This would be a nice, diverse offer if it was made by a legitimate broker. Seeing how we are clearly dealing with an investment scam, their offer means nothing. You’re better off not trading at all, than risk everything by investing with a bogus broker.
Scam brokers often claim to allow their users to trade with a wide variety of trading instruments in an attempt to look more successful and bigger on the market. These are of course only tricks designed to fool their clients so the financial swindler can take their money.
Quanta Trade Deposits/Withdrawals Methods
No relevant information is given regarding deposits and withdrawals. Quanta Trade mentions several different methods of depositing including credit and debit cards, bank transfers, and e-wallets. They also claim to process deposits in real-time with no extra fees or provisions.
Withdrawals are made via the same methods chosen for deposits. The request is processed within one day and fees and provisions are 3%.
Quanta Trade Frauded Me – How Can I Obtain a Refund?
Deposit through your e-wallet, getting your money back might be a bit harder than you would want it to be but it is not impossible.
If you have deposited through a debit or credit card, things are much easier as you can ask for a chargeback for up to 540 days after you have made your deposit.
If you have saved any e-mails exchanged between you and the Quanta Trade scam or any written evidence of being scammed, things get much easier. It is of utmost importance to go straight to your bank and ask them for help as soon as possible.
Don’t bother talking to the scammer as they will do everything to convince you that you will get your money back if you wait for some time. Of course, if you wait long enough you will lose any possibility of getting your deposit back.
Quanta Trade Summary
- Broker is unregulated.
- Offers basic trading conditions.
- Pertinent information is unavailable.
- Software cannot be tested.
- No demo account.
- High minimum deposit.
FAQs About Quanta Trade Broker
Is Quanta Trade Regulated?
Quanta Trade is not regulated by a legitimate regulator.
What Is the Minimum Deposit for Quanta Trade?
The minimum deposit offered with each account type is custom, which probably means that you get to choose.
Do Quanta Trade Offer Demo Accounts?
Quanta Trade does not offer its clients a demo account.