General Information
QUANTFURY is an offshore regulated broker based in the Bahamas, catering to traders interested in a diverse range of market instruments. They offer an extensive selection of trading options, including stocks, crypto pairs, ETFs, index futures, commodity futures, and currency pairs. Traders can take advantage of potential opportunities in these markets to make informed trading decisions.
One of the key features of QUANTFURY is their smartphone trading app, which allows users to trade on the go. The app offers commission-free trading, meaning users are not charged any fees for executing trades. This can be appealing to traders looking to minimize their transaction costs and maximize their potential profits.
In terms of trading tools, QUANTFURY provides users with charts, volume indicators, and a highlighter tool to aid in their analysis. These tools can assist traders in understanding market trends, gauging asset liquidity, and making more informed trading decisions. However, it's important to note that the broker has received negative reviews on WikiFX, raising concerns about hidden fees, delays, slippage, account lockouts, and the removal of profits. These reviews highlight potential issues that traders should consider before engaging with QUANTFURY.
Is QUANTFURY Legit？
Quantfury Trading Limited is regulated by the Securities Commission of The Bahamas (SCB) with a retail forex license. The license number associated with Quantfury is SIA-F204. The company is a licensed institution under the offshore regulatory jurisdiction of The Bahamas.
It's important to note that Quantfury is an offshore regulated entity, which means it operates under different regulations compared to brokers regulated by onshore financial authorities. Offshore regulations may have different requirements and levels of investor protection.
The licensed institution, Quantfury Trading Limited, is located at Bayside Executive Park, No. 3, West Bay Street & Blake Road, Nassau, Bahamas. Unfortunately, the provided information does not include the phone number of the licensed institution.
The website of Quantfury Trading Limited is https://quantfury.com/. However, it's worth mentioning that the information provided indicates that the broker does not currently have a trading software. It's advisable to verify this information and consider the associated risks before engaging in any transactions or investments.
Pros and Cons
QUANTFURY offers a range of investment choices and access to global markets, allowing for diversification across asset classes. The broker provides a commission-free trading app for smartphones, along with various deposit methods and support for multiple cryptocurrencies. However, there are concerns regarding the volatility and market risk associated with some instruments. The trading platform has limited features, research tools, and educational resources. Customer support is also limited, and there is limited information available on withdrawal fees and processes. Additionally, there is no specific information on advanced technical analysis features and device compatibility, and the depth of educational topics is limited.
Market Instruments
Quantfury offers a wide range of market instruments for trading. Traders on the platform have access to 1515 individual stocks, 46 different crypto pairs, allowing users to participate in the growing cryptocurrency market.
Stocks:
Quantfury enables users to go long on stocks they believe will increase in value and short stocks they anticipate will decline. This allows users to potentially profit from both rising and falling stock prices.
Crypto Pairs:
With 46 available crypto pairs, users can navigate the dynamic and 24/7 cryptocurrency markets. This offers opportunities for trading and investment in different cryptocurrency pairs.
ETFs:
Quantfury provides exposure to ETFs, which allow users to manage risks by gaining exposure to multiple stocks within a single investment. This diversification can help users mitigate the impact of individual stock performance.
Index Futures:
Users can speculate on global market movements through index futures. These instruments enable users to take positions on the performance of various market indices, such as the S&P 500 or the FTSE 100.
Commodity Futures:
Quantfury allows users to identify opportunities in the global trade of commodities. Commodity futures enable users to speculate on the price movements of commodities like gold, oil, or agricultural products.
Currency Pairs:
Quantfury facilitates participation in the global marketplace for exchanging national currencies. Users can take part in currency pairs, allowing them to speculate on the relative value of different currencies and potentially benefit from foreign exchange fluctuations.
Account Types
AccuIndex offers a variety of account types to cater to the diverse needs of traders. Each account type comes with its own set of features, requirements, and benefits.
STANDARD:
The Standard account type offered by AccuIndex requires a minimum deposit of $100. It provides a spread starting from 1.4 pips, with no commission charges. Traders can leverage their positions up to 1:400. The account allows swap-free trading for a period of 10 days. The trading platforms available for this account type are MT5 and MT4. AccuIndex offers promotions for the Standard account type, and it provides access to over 300 trading instruments in various markets. The account currency is USD. The stop-out level is set at 20%, and negative balance protection is offered. Traders can also use Expert Advisors (EA) with this account type.
PRO:
AccuIndex's PRO account type requires a higher minimum deposit of $1,000. It offers a lower spread starting from 0.8 pips, with no commission charges. The leverage available for this account type is also 1:400. Similar to the Standard account, the PRO account provides a swap-free trading period of 10 days. The trading platforms available are MT5 and MT4. However, no promotions are offered specifically for the PRO account. Traders using this account type have access to over 300 trading instruments across different markets. The account currency is USD. The stop-out level is set at 30%, and negative balance protection is provided. Traders can utilize Expert Advisors (EA) with this account type.
RAW:
The Raw account type offered by AccuIndex requires a higher minimum deposit of $3,000. It provides traders with the advantage of very low spreads, starting from as low as 0.0 pips. However, there is a commission charge of $2.5 per side. The leverage available is 1:400. Unlike the previous account types, the Raw account does not offer swap-free trading. The trading platforms available are MT5 and MT4. No promotions are offered specifically for the Raw account. Traders have access to over 300 trading instruments across various markets. The account currency is USD. The stop-out level for this account type is set at 50%. Unlike the other account types, there is no negative balance protection offered, and Expert Advisors (EA) cannot be used with the Raw account.
How to open an account？
To open an account with Quantfury, you can follow these general steps:
1. Visit the Quantfury website: Go to the official Quantfury website using a web browser. Sign up: Look for the “Sign Up” or “Register” button on the website and click on it. You will be directed to the account registration page.
2. Secondly, you will need to provide your phone number as part of the registration. After entering your phone number, you will typically receive a verification code via SMS. To proceed with the account setup, enter the verification code received on your phone into the designated field on the registration page. This step helps confirm that the phone number provided belongs to you and allows Quantfury to enhance the security of your account.
3. Provide personal information: Fill out the required fields on the registration form, which typically include your name, email address, and password. Make sure to provide accurate information.
4. Agree to terms and conditions: Read through the terms and conditions of Quantfury and agree with them by checking the appropriate box or clicking on the provided button.
5. Fund your account: After completing the account setup, you can proceed to fund your Quantfury account. Follow the instructions provided on the platform to deposit funds using the available payment methods.
6. Start trading: Once your account is funded, you can explore the trading features and start trading the available market instruments on Quantfury.
Leverage
The maximum leverage offered by this broker is capped at 1:20, which is conservative. However, since margin trading is full of risks, it is important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.
Spreads & Commissions
Quantfury claims that it operates on a pricing model where clients can trade at real-time spot prices of global and cryptocurrency exchanges. However, no clear information on spreads and commissions is presented.
Trading Platform Available
Quantfury offers a smartphone trading app that enables users to trade a wide range of financial instruments, including cryptocurrencies, fiat pairs, equities, and futures. The app stands out by providing commission-free trading, meaning users are not charged any fees for executing trades.
Trading Tools
Quantfury provides a range of trading tools to help users analyze and make informed trading or investment decisions. These tools are available in the Instrument View and include charts, volume indicators, highlighter tool, and order book (for cryptocurrency pairs).
Charts: Quantfury offers two types of charts - Line Chart and Candlestick Chart. The Line Chart displays the 5-minute closing prices for the previous 20 hours, with a horizontal line representing the previous day's closing price. The Candlestick Chart provides detailed information about the asset's price during a specific time period, including the open, close, high, and low prices.
Volume Indicator: Users can access the volume indicator symbol, located next to the candlestick symbol, which provides shading on the chart to represent the trading volume of the asset. By activating the chart highlighter, users can see the specific quantity that was traded at a particular time.
Highlighter Tool: The highlighter tool allows users to toggle it on or off or activate it by tapping and holding anywhere on the chart. Once activated, users can drag the highlighter to a specific time period to view the asset details at that point, including the volume (if the volume indicator is turned on). The displayed information varies depending on the chart view:
Line Chart: Closing price for the selected time period, price change since the previous close, and percentage change since the previous close.
Candlestick Chart: Open price, close price, highest price, and lowest price.
Time Intervals: Users have the flexibility to select the time interval for the charts. The available options include 5 minutes (default), 15 minutes, 1 hour, 4 hours, or 1 day. The corresponding time period covered by the chart is displayed above the time interval options.
Pros and Cons
Deposit & Withdrawal
Quantfury offers multiple methods for depositing and withdrawing funds. Users have the flexibility to choose from various options based on their preferences. The available methods are as follows:
Cryptocurrency Funding: Quantfury allows users to fund their spot wallet with 11 different cryptocurrencies. These cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dash (DASH), Dai (DAI), Tether (Erc-20 and Solana), USD Coin (USDC), TrueUSD (TUSD), Chainlink (LINK), and Solana (SOL). This provides users with a wide range of choices and flexibility when it comes to depositing and withdrawing funds.
Wire Transfer: Users can also deposit funds into their Quantfury spot wallet by initiating a wire transfer in their national currency. This method allows for direct transfer of funds from a bank account to the Quantfury account. It provides an option for users who prefer traditional banking methods.
Cryptocurrency Transfer: Another option for funding the Quantfury spot wallet is by sending cryptocurrency from a third-party wallet. Users can transfer their preferred cryptocurrency from their external wallet to their Quantfury account. This method is for those who already hold cryptocurrencies in other wallets.
Bank Card Purchase: Quantfury enables users to buy cryptocurrency directly with their bank cards. This feature allows for a seamless and quick process of converting fiat currency into cryptocurrency, which can then be deposited into the Quantfury spot wallet.
Pros and Cons
Customer Service
Quantfury provides customer support options to assist clients with their inquiries and concerns. Clients can reach out to the broker's customer support team through several channels, including online chat and email. This allows for direct communication with the support staff, enabling prompt assistance and resolution of any issues that may arise.
In addition to traditional communication methods, Quantfury maintains a presence on several social media platforms, such as Facebook, Twitter, LinkedIn, and others. This provides an alternative means for clients to connect with the broker and receive support or stay updated on the latest news and announcements.
Quantfury also offers a comprehensive “HELP CENTER” that covers a wide range of topics and frequently asked questions. This resource serves as a self-help tool for clients, enabling them to find answers to common queries and gain a better understanding of the platform's features and functionalities.
Educational Resources
The Quantfury Daily Gazette is an educational resource provided by Quantfury, covering a wide range of topics that are of interest to Quantfurians. It is a financial markets and lifestyle blog that publishes content every day, including blogs, videos, podcasts, and more. The Gazette aims to keep users informed about the latest news and trends in various fields.
The Gazette offers a diverse range of categories to cater to different interests. These categories include technology, sports, finance, health, entertainment, fashion, environment, and travel. This ensures that users can find content that aligns with their specific areas of interest and stay updated on the latest developments in those fields.
Some of the recent articles published in the Gazette include “Steel dynamics war for steel,” which discusses the competitive landscape of the steel industry, “The rise of the solar industry,” which highlights the growth and potential of the solar energy sector, and “Nike: beyond Phil Knight to Travis Knight？” which explores the transition of leadership within the Nike company.
Reviews
Quantfury has received negative reviews on WikiFX regarding hidden fees, delays, slippage, account lockouts, and the removal of profits. Users reported experiencing severe delays of up to 9 seconds for order execution, significant slippage, and hidden fees. Some users claimed that their accounts were locked and their funds were taken while having successful trading streaks. Another user expressed skepticism about the broker's honesty, stating that profits were taken away and the account was closed. These reviews raise concerns about the broker's transparency and trustworthiness.
Conclusion
In conclusion, Quantfury offers a range of market instruments and a smartphone trading app for users to participate in various markets. The platform is regulated by the Securities Commission of The Bahamas and provides access to global investment markets. However, it's important to note that Quantfury operates under offshore regulations, which may have different requirements and levels of investor protection compared to brokers regulated by onshore financial authorities. Some potential disadvantages include volatility in certain market instruments, market risk and fluctuations, limited availability of features and educational resources, and limited customer support options. Users have also raised concerns about hidden fees, delays, slippage, account lockouts, and the removal of profits, indicating potential issues with transparency and trustworthiness. It's advisable for individuals to thoroughly research and consider the associated risks before engaging in any transactions or investments with Quantfury.
FAQs
Q: Is Quantfury regulated？
A: Yes, Quantfury is regulated by the Securities Commission of The Bahamas (SCB) with a retail forex license.
Q: What market instruments are available on Quantfury？
A: Quantfury offers stocks, crypto pairs, ETFs, index futures, commodity futures, and currency pairs.
Q: How can I open an account with Quantfury？
A: To open an account, visit the Quantfury website, provide your phone number, complete personal information, agree to terms and conditions, fund your account, and start trading.
Q: What leverage does Quantfury offer？
A: Quantfury offers a fixed leverage of 1:20.
Q: What is the minimum deposit requirement for Quantfury？
A: The minimum deposit requirement is based on the Bitcoin equivalent of $100.
Q: What deposit and withdrawal methods are available on Quantfury？
A: Quantfury offers cryptocurrency funding, wire transfer, cryptocurrency transfer, and bank card purchase options.
Q: What trading platforms does Quantfury provide？
A: Quantfury offers a smartphone trading app for commission-free trading of various financial instruments.
Q: What trading tools are available on Quantfury？
A: Quantfury provides charts, volume indicators, highlighter tool, and order book for cryptocurrency pairs as trading tools.
Q: Does Quantfury provide educational resources？
A: Yes, Quantfury offers the Quantfury Daily Gazette, a financial markets and lifestyle blog.
Q: How can I contact Quantfury's customer support？
A: You can contact Quantfury's customer support through live chat, email (ali.pourdad@quantfury.com), and social media platforms.
Q: What are the reviews of Quantfury？
A: Quantfury has received negative reviews on WikiFX, including complaints about hidden fees, delays, slippage, account lockouts, and the removal of profits.
2024-03-22 16:06
2023-12-05 16:57
