Are you looking for a Forex Brokerage house? Luckily, there are more than 200 active brokers globally, so you have a large variety to choose from. Each of them works with its own conditions, instruments, and platforms. That is why you should look for all of these aspects before choosing a broker.
QuickTrade is one of the most popular regulated brokerage companies. If you do not know about it, we have covered it for you. This review of QuickTrade South Africa will help you decide whether it is the right broker for you or not. So, let’s get into it.
QuickTrade South Africa – A Complete Review
QuickTrade is a South African broker company regulated by the Financial Services Conduct Authority (FSCA). It is registered with the FSP number 45262. Australian Securities and Investment Commission (ASIC) and Financial Conduct Authority (FCA) also supervise the broker.
Therefore, you can ensure that your investments are in safe hands. With that said, let’s look at other aspects of QuickTrade.
- QuickTrade Trading Instruments
Usually, brokers offer a variety of trading instruments. QuickTrade, too, has several products to trade with. These also include more than 30 currency pairs, like USD/ZAR.
Other than that, you also get access to Natural Gas, Crude Oil, Precious Metals, Some 12 Indices, EFTS, and Stocks. - Quick Trade Trading Platform
QuickTrade South Africa supports the MT5 platform. MetaTrader 5 was released in 2010 and is one of the most popular trading software. That is mainly because it is easy to use and provides in-depth analysis. Plus, it is available for desktop as well as iOS and Android. - QuickTrade Leverage, Commissions, and Fees
If you want to trade on margin, good for you because QuickTrade has some exciting leverage options. You can get up to 1:100 when you open a new account.
Leverage allows you to trade with money more than your initial deposit. This way, you can earn bigger profits without spending more money. With QuickTrade, you can choose leverage on tradeable assets manually as well.
As for the commission, QuickTrade charges 2.0 pips per lot for a currency pair. It is 0.5 for equities, 9.0 for indices, and 2.5 for commodities. On the other hand, the forex spreads are floating as low as 1.2 pips.
The broker also charges a swap fee for trading overnight. These values vary depending on the market’s current conditions. - QuickTrade Account Types
Unlike most other brokers, QuickTrade South Africa offers only a single account type. Its spreads are 1.2 pips, while the maximum leverage can be 1:100 at EUR/USD. It is a standard account that is suitable for both new and experienced traders.
In addition to that, there is also a demo account where you can check the broker’s rules, conditions, and other factors. - QuickTrade Pros & Cons
Pros
- Certified and Regulated Broker
- Uses MT5 Trading Platform
- A variety of tradeable instruments
- Good for South African traders
Cons
- Limited account and deposit options
Conclusion
In this detailed review, we have covered all aspects of QuickTrade South Africa. Before choosing the broker, it is essential to consider the pros and cons. For more information visit this site: 300mbmovies
If you want to get started, you can do so with a demo account, as it will be more convenient.
