Beware! Quantum Exchange is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Quantum Exchange is just another shady broker that will start gathering dust, and soon enough will probably be exposed as the scam it really is.
The account creation page was blocked to us by a message stating that the system is currently undergoing an upgrade.
We don’t see as an upgrade, but an excuse not to allow us to to register. If there was an update, it would be announced on the home page, and the broker would have found a way to compensate users wishing to register. No, what we have here is an attempt by the firm to block us because it does not know us, and fears what we may find.
But we have the entire website all to ourselves, even though the information on it may not be as accurate as we would like it to be. Nevertheless, here goes.
The alleged tradeable assets are forex currency pairs, shares, oils, energies, precious metals, indices, and cryptocurrencies. The default account has a 2 pip starting point which is not at all favorable. The leverage ranges from 1:30 to 1:500, and it seems like a pretty obvious offshore value. We found no individual asset spreads.
And what we have found may not be accurate nor truthful at all. In fact, the accounts that Quantum Exchange promotes may not be applicable considering that most shady brokers lie about these tiers.
QUANTUM EXCHANGE REGULATION AND SAFETY OF FUNDS
According to the footer, today’s broker is registered in Saint Vincent and the Grenadines. This may be the case, but it really doe snot make things better for Quantum Exchange. SVG does not have an FX regulator and never had one to begin with, resulting in thousands of registered brokers that are essentially unlicensed and granted the freedom to do scam and cheat as much as they want. Even with a local registration, Quantum Exchange is definitely not regulated in Saint Vincent and the Grenadines.
What’s more, you may have noticed that Quantum Exchange openly brags about being awarded with “best broker” trophies and the like, only to realize that none of these are actually accurate, nor has any one of these ever belonged to Quantum Exchange. These have been included to perpetrate the illusion that Quantum Exchange is legit.
There are also no legal documents, unless you consider the AML one. And yes it does fall into that category, but it the only document that does not cover Quantum Exchange-specific legal requirement, the stuff that we always look for in brokers. Without the presence of legal docs, there is no stable and legal bond between the broker and user parties, meaning that the firm can pretty much treat the client as it sees fir.
Quantum Exchange is pretty much unregulated and a risk to all!
Unless you wish to throw your money away for no reason , there is absolutely no incentive for investing in unlicensed brokers. In fact, you would be doing them a big favor by funding their further fraudulent projects. If you wish to trade real FX and CFD with regulated brokers, looks no further that those that are regulated, especially in well known locations such as Europe, the UK, the US, or Australia. The regulators there are pedantic to a ridiculous degree and will do everything in their power to uphold the rights of the user and the integrity of the market industry. It is within their power to penalize brokers and demand client compensation, as well as to set industry standards and introduce new rules and regulation.
QUANTUM EXCHANGE TRADING SOFTWARE
There is an MT5 download link o d the site that opens a .exe file belonging, to one Quantum Capital. Obviously, this isn’t Quantum Exchange, and this leads us to believe that the MT5 available on the does not trade under the broker’s servers.
What’s more is that without a registration, we don’t know whether there s a software or not.
QUANTUM EXCHANGE DEPOSIT/WITHDRAW METHODS AND FEES
The website discloses information about the following payment methods: FPX, locla depositor (probably bank), international EFT, credit cards, debit cards, Quantum Exchange’s Prepaid Card, PayPal, Touch n’Go, and crypto wallets.
Allegedly, the broker covers all fees, but we cannot be be sure of that. Chargeback fees are also charged, which is unacceptable and another sign that the firm works without an overseer.
There was no minimum deposit amount revealed.
The withdrawal details are missing, although what we said above can be applied to withdrawals.
Overall, these are grey payment details, and we personally don’t trust them. We would have liked to access the user area for specific info but we have to make due with what we have.
HOW DOES THE SCAM WORK
Getting scammed usually happens without you knowing it. It’s a deceivingly simple process that owes its success precisely because it seems so avoidable.
First, there is the matter of getting in contact with the broker which happens in one of two ways. Either it contacts you, or you it. If it calls, it means that somewhere in your net journey you accidently left a phone number or an email address. Or you were persuaded by the broker to contact it, which is why many scammer brokerage sites looks so appealing.
The hardest thing to achieve, for a fraudster, is to convince a user to invest an initial deposit. Prior to this a certain level of trust must be built, centered around a false sense of rapport. The broker will fake an interest in the user and in the process talk about market and profit opportunities, as well as investment choices. It’s all a part of a retaining strategy that will keep the user invested for at least a couple of thousand dollars, on average, until, eventually, he realizes the scammer pit he has fallen in.
When this happens, the broker will seize all contact with the user, and might even block the client from the website. It will go to great lengths not to return a single penny of the user’s money.
WHAT TO DO IF SCAMMED
The first thing you should do it to file for a charge back. That’s if you have invested by means of a credit or debit card. MasterCard and VISA have a chargeback period of 540 days giving users more than enough time to try to get their money back.
Wire transfer deposits are not as easy to acquire, and the best advice we can give you is to set up a reimbursement strategy with the bank leading the transactions. Most banks have strategies put in motion when these circumstances are met. Furthermore, if scammed via a wire transfer, it’s best to change your bank account user name and password.
Unfortunately, all crypto deposits are most surely lost for good. These transactions are untraceable and therefore once they reach the scammer end it all depends on the fraudsters if you see your money back or not.
Lastly, do not trust recovery agents or agencies. These are either separate scammers trying to get a hold of any leftovers, or can even be an extension of the brokerage scam.