Quant Services Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Quant Services Review.
Quant Services Review
Quant Services (operating quantservices.net) is a forex broker, which also offers spot metals and a few CFDs. The company provides two trading platforms, but sadly we couldn’t get the more unusual one running.
The Company. Security of Funds
Company Country Regulation
Quant Services Ltd Vanuatu VFSC
Quant Services Ltd. is the company behind this broker. They are registered on the island of Vanuatu and hold a license from the local VFSC. This does not give them a lot of credibility, as off-shore regulation is generally dubious.
That being said Vanuatu probably has the loosest regulatory standards, as it only requires $2000 in capital, from companies, who attempt to register as a “Dealer in Securities”. As a comparison, the UK’s Financial Services Authority (FCA) has an € 730,000 minimum capital barrier. This is done in order to guarantee a company can withstand capital shocks.
Furthermore the FCA imposes strict rules to companies, which are under its oversight. From a trader’s point of view two are the key regulations. First of all, client funds must be kept in the so called segregated accounts. This implies a broker can not freely access its clients’ investments and spend them on company needs. The second key rule is the mandatory participation in the Financial Services Compensation Scheme (FSCS). This is a mechanism which guarantees traders’ funds against their broker going insolvent. If you trade with and FCA-regulated company, which happens to become insolvent, the scheme will cover your claims up to £50,000.
Quant Services appears to be focused on the Chinese market, as the only translations of their website are in Chinese.
Trading Conditions
Minimum Initial Deposit
Quant Services has not announced a minimum deposit level on its website. This is not the usual norm with forex brokers. For instance, FXCM only requires a $50 minimum deposit, in order to attract clients who can’t afford a more substantial investment.
That being said, this shouldn’t be a major criteria, when comparing forex brokers, presuming you can afford a larger investment. If that is not the case, do not be ashamed to try trading with a smaller account, with one of the brokers who provides them.
Average spreads & Commissions
Spreads at Quant Services are fixed and starting from 3 pips. On top of that there is a $10 commission per lot. An easy way to calculate, how much your commissions are effectively worth, in terms of spread is this:
Every $1, per lot (for both sides, of a trade) is worth 0.1 pip (in pairs where the USD is the quoted currency).
This makes the costs of trading at Quant Services a minimum of 4 pips per trade. These conditions are very poor, when compared to the current offerings by other brokers. If you are set on trading with a fixed spread broker, you may want to check out easyMarkets. They provide a 1 pip fixed spread on EUR/USD, if you deposit more than $250. On the other hand variable spreads can go even lower. Feel free to check our real-time spread comparison platform.
Leverage
Quant Services has set the maximum leverage cap at 1: 100. Nowadays this is considered as a normal, or even conservative level, given the fact some brokers offer 1:500 or even more.
Remember, leverage is a double-edged blade. It can multiply your loses the same way it does your winning trades. The key point to note is that preserving your capital is probably more important than aggressively gaining much, just to loose it back to the market later on.
Trading Platforms
Quant Services offers two tradign platforms – the industry staple MetaTrader4 and Quant Auton. While we couldn’t get their presumably in-house solution running, MT4 didn’t disappoint (as it generally doesn’t). The world’s most popular currency trading platform offers a great charting environment, can handle many instruments being loaded at the same time and has an easy to learn programming language (for creating add-ons). The latter factor is probably the most unique aspect of Meta Trader.
Thousands of trading tools have been created and sold (or leased) on the broker-independent MQL marketplace. The most common ones are custom technical indicators and automated trading systems (known as Expert Advisors).
Methods of Payment
Quant Services does not give any information on the methods of payments which they operate with. This is yet another key piece of information which is not disclosed, but we aren’t very surprised at this point.
Quant Services is a Vanuatu-based forex broker. This immediately lowers the company’s credibility. The costs of trading are astronomically high for the current standards. This is probably one of the few brokers which adds a commission on top of a fixed spread.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Quant Services Review Conclusion
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