Forex market provides huge leverage to the retail side. Undoubtedly, it can amplify both the losses and profits of the retail traders and investors. However, to navigate the markets everyone needs a reliable broker and if you don’t do proper research before signing up with a reputable one, then things will get very rocky from the beginning. Quantom Capital is an unregulated broker who offered a wide range of trading instruments.
From major forex pairs, CFDs to cryptocurrencies, they made almost every mainstream instrument available to their clients. Unfortunately, their trading conditions were very vague and at the time of writing this review, they have already fled the scene.
Many clients have lost money to them and as the official website is down, they don’t even know the steps they need to take in order to get the funds back from them. To learn about this broker and every aspect of their business, stick with us till the end. Later in this post, we are also going to share ways of recovering funds from them.
Regulation and Support
The key difference between regulated and unregulated brokers is the way they provide security to client’s funds. All the brokers who are under the radar of the authorities ensure fair treatment and they will not have extreme conflict of interest with the clients.
On the other hand, unregulated brokers usually have too much control over the price feed and just by increasing the spreads they can make huge profits. Quantom Capital doesn’t share any details about the parent firm. After searching all the databases, we couldn’t find any information about them. Clearly, the lack of transparency is a concern and given their vague nature, we don’t advise any of our readers to indulge with them.
They mainly interacted with the clients via email and live chat. However, since their website went down, there is no way to get in touch with them and given their nature and the characteristics, we don’t think they will be back anytime soon.
Quantom Capital Trading Platform and Conditions
Quantom Capital offers a web based trading platform to the clients. The platform features all the basic functionalities and is extremely light. All the variables such as the swap rate, leverage is displayed on the right hand side of the screen. It is newbie friendly and most beginners won’t have any problem while using the interface.
On the flip side, the professionals won’t be inclined towards using the platform as it is extremely limited in the features it offers. Lack of MetaTrader support means professionals won’t be able to use custom indicators and templates which is a huge disadvantage and a deal breaker. On the bright side, this broker does offer access to an economic calendar and some educational content.
To keep the clients updated at all times, they also feature the trade alert function. The spreads on this platform are huge and we can easily say that it will be almost impossible for the scalpers to make money with them. If you are a position or swing trader, then spreads won’t bother you much, but when there are better regulated brokers offering competitive pricing, it doesn’t make much sense to proceed with this broker.
Moving on to the leverage aspect, this broker caps the amount at 1:200. For most of the traders, this kind of leverage is more than enough to make significant results. Before employing leverage, always keep an eye on maintenance margin and understand the risks beforehand.
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They haven’t mentioned anything about the inactivity fees and we won’t know whether they offer negative balance protection. At the end of the day, there isn’t a single factor about them which makes them credible and the mysteriousness surrounding this firm is unjustifiable.
Charting and Account Types
Charting is a main component when it comes to trading. All the experienced ones will have multiple screens to monitor their positions and most of them will have custom indicators set up. We are not suggesting that in order to be successful you need to have more screens.
However, using history as a guide, when you are above a certain threshold, multiple screens and customization does become a necessity. The lack of support for custom trading tools on this broker is a major flaw and it will make a dent on their user base. Nowadays, almost all of the brokers offer different account types in order to enable clients to make the best out of their capital.
This platform is not an exception to the rule mentioned above, but the way they implement it is different and vague. For example, they don’t state the benefits of the account types. Clients are not informed about the minimum criteria in terms of funding.
Furthermore, we don’t even know whether or not they allow all kinds of strategies. So, make sure to double check the conditions by reaching out to the support team or else it will affect your trading account drastically.
Client Feedback
Though this broker is controversial, there is no dedicated spot earned by them on any forum yet. Apart from the comments made by frustrated users on other review sites, we weren’t able to find any additional, verifiable claims from the actual users.
This platform indeed received high traffic, but lack of testimonials is a strange thing to occur given their traffic volumes. Nonetheless, keep your eyes on sites like Trustpilot and Forexpeacearmy, we are pretty sure that they will gain a lot of attention in the near future.
Is Quantom Capital a Scam?
Yes and there are no second thoughts about it. They operate without providing any details on their legal status. Moreover, they are known to defraud people in the name of account management services. We don’t exactly know the ways they employed to keep a low profile on niche forums.
However, their activities were huge in nature and as more people lost money, even the regulators had to step in to help people understand the dangers involved while dealing with them. Check out the FCA warning post to understand more about this platform which will give you the idea about the level of damage they inflicted to the retail side.
Conclusion
Quantom Capital is a filthy broker who defrauded hundreds of thousands of dollars from the clients located in the United Kingdom. They are facing a lot of heat from the law enforcement agencies all around the world which is why they have shut down their operations?
So, avoid them at any cost and if you have lost money to them, then use the contact form on our website to learn about the recovery methods. Our expert team will gladly show you the necessary course of action for free.
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