Quadcode Markets Review 2023

Trust

Quadcode Markets Regulations

Quadcode Markets operates under one entity:

• Quad Code AU LTD is regulated by the Australian Securities & Investments Commission (ASIC). We rate ASIC as a Tier-1 regulator.

Why is It Important to Know Where Your Broker Subsidiary Is Regulated?

Each regulator has its requirements for brokers, which may differ materially. Such requirements include leverage levels and specific protections offered to investors, including negative balance protection, segregated accounts, and investor compensation funds. Traders must understand the differences between regulations to evaluate whether the broker suits their needs.

With Quadcode Markets, clients can open an account with Quadcode AU LTD, which is regulated by ASIC.

Quadcode Markets holds clients’ funds in segregated accounts, which means that the firm’s capital is separated from clients’ money. The use of segregated accounts improves the safety of clients’ funds in case Quadcode Markets has financial problems.

Quadcode Markets also provides negative balance protection, which is a standard feature for brokers. Negative balance protection ensures that clients cannot lose more money than they have in their trading accounts.

We have summarized key aspects of the broker’s entities in terms of regulation and safety in the table below:

Is Quadcode Markets Safe to Trade With?

Quadcode Markets has one entity: Quad Code AU LTD, which is regulated by ASIC, a Tier-1 regulator. The entity provides negative balance protection and holds clients’ funds in segregated accounts.

Negative balance protection ensures that clients will not lose more money than they have in their accounts. Segregation of clients’ funds from the firm’s funds ensures that the broker cannot use them for its own needs.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focused on how long the broker has been in business, how big the company is, and how transparent it is in terms of information being readily available.

Quadcode Markets has been in business for 2 years. The company is not publicly traded and has no bank parent, which is usual for brokers.

Quadcode Markets received a high score for fees structure transparency, regulation protection transparency, and general transparency.

Traders can find the important documents in the dedicated section of the company’s website. These documents include the Client Agreement, Financial Services Guide, Hedging Policy, Product Disclosure Statement, Risk Disclosure, and others.

Traders can also find the specifications for the instruments offered by Quadcode Markets. These specifications include trading time, minimal spread, maximum leverage for each instrument, minimal margin requirement, and swap rates.

In summary, our findings indicate that Squared Financial can be regarded as having a decent level of trust and stability due to the following factors:

• Quadcode Markets is regulated by a Tier-1 regulator.
• The broker has been in business for over 2 years.
• The company provides easy access to important information on its website.

Fees

Quadcode Markets Trading Fees

For this review, we tested the Quadcode Markets Standard Account, where the broker charges spreads and swap/rollover fees but does not charge commissions. Spreads are variable and depend on the liquidity situation in each instrument at a certain point of time

Quadcode Markets Spreads

We tested the spread on the Quadcode Markets Standard Account during the London open at 8:00 a.m. GMT and just after the US open at 2:45 p.m. GMT. These are the most actively traded times.

Quadcode Markets offers medium fees for EUR/USD and GBP/JPY. Spreads for Gold, WTI Oil, DAX, Dow Jones, Apple, and Tesla were high.

Swap Fees

The swap fees for EUR/USD and GBP/JPY are high.

Are Quadcode Markets Trading Fees Good?

Quadcode Markets received a low score in the Fees category in our rating. The broker offers medium spreads for currencies, but the other spreads we measured were high.

Dormant Account Fees

Quadcode Markets charges a dormant account fee of $10 per month in absence of any account activity for a period of at least ninety consecutive days.

Platforms and Tools

Quadcode Markets Desktop and Web Platforms

In this review, we tested the Quadcode Markets platform analyzing charts, indicators, drawing tools, orders, and the general ease of use of the platform.

General Ease of Use

Quadcode Markets is a simple-to-use platform that was built to be intuitive and lightweight. The platform is identical in its desktop and web versions. The platform is user-friendly as all features may be found intuitively. Our research indicated that the desktop platform is slightly faster than its web version.

Notably, the platform includes chat support from the broker, so novice traders may ask questions about the platform at the time when they are working with charts or going through their watchlist. The broker offers a demo account, so traders can practice their skills without risking money and switch to the real money account when they feel comfortable.

Charts

Quadcode Markets offers 99 indicators and 18 timeframes, which is more than enough to customize your charts and adjust them to your needs.

Traders can work with momentum, trend, volatility, moving averages, volume, and other indicators.

Available timeframes range from 5 seconds to 1 month so they provide the trader with an opportunity to take a look at short-term developments and significant multi-month trends.

Quadcode Markets offers four chart types:

• Line
• Candles
• Bars
• Heikin-Ashi

Candlesticks are generally the most popular among traders as they suggest an abundance of various patterns that are used to make trading decisions. Although, other types of charts also have their fans.

Quadcode Markets charts are easy to configure even for novice traders but they also offer enough options for expert traders.

Orders

Quadcode Markets offers the following order types:

• Market order. This order is used to buy or sell the instrument at the current market price when the trader needs to establish a position in the fastest possible way. The main downside of the market order is the necessity to pay a spread, which is a difference between the bid price and the ask price.
• Limit orders. This order is used to buy or sell the instrument at a pre-set price or better when the trader wants to get a specific entry point and without paying the current market prices.
• Stop-loss orders. Stop-loss orders are used to get you out of the position when the price is moving in the wrong way. The order is triggered when the price reaches a specified point.
• Take-profit orders. These orders are used to take your profits off the table when the instrument reaches a specified price.

Quadcode Markets Mobile App

In this review, we have tested the Quadcode Markets Mobile App for Android.

General Ease of Use

The Quadcode Markets Mobile App is easy to use. It provides charts, quotes, account balance info, news, economic calendar, and earnings calendar. The functionality of the Mobile App mostly mimics the functionality of the Quadcode Markets desktop and web platforms.

Charts

Quadcode Markets mobile app offers:

• 99 technical indicators
• 5 drawing tools
• 18 timeframes
• 4 chart types

The mobile version provides the same charting options as the broker’s desktop platform, which is fairly unusual. The charts are adaptive and easy to work with, so traders have the opportunity to use the full strength of technical analysis on the go.

Orders

In the Quadcode Markets mobile app, you can set market orders, limit orders, stop loss orders, and take profit orders.

Tradable Instruments

Quadcode Markets provides access to 24 CFDs on forex pairs, 9 CFDs on commodities, 11 CFDs on indices, 12 CFDs on cryptocurrencies, and 185 CFDs on stocks. The number of available forex pairs is low, and the offering is limited to the most popular pairs.

The number of available commodities and stocks is medium, while the number of available indices is high.

What are CFDs?

CFDs (Contracts for Differences) are financial instruments that allow traders to bet on securities without owning the underlying securities. The key advantage of CFDs is the access to significant leverage*, which is typically not available when trading other instruments. In this light, CFDs are very popular in short-term trading.

What Can You Trade with Quadcode Markets?

• 24 forex pairs. The list includes popular currencies like EUR/USD, GBP/JPY, and USD/CAD.
• 9 commodities.Traders can work with the most popular commodities, such as Gold, WTI Oil, Natural Gas, and Copper.
• 11 indices. Major indices like S&P 500, Dow Jones, and DAX are available for trading.
• 12 cryptocurrencies. The offering includes major coins, such as Bitcoin, Ethereum, and Ripple, as well as more exotic options like OmiseGo and Qtum.
• 185 stocks. The list includes popular names like Apple, Tesla, and Chevron.

Quadcode Markets offers forex pairs, commodities, indices, stocks, and cryptocurrencies. The broker’s offering includes most popular names in the above-mentioned asset classes.

Customer Support

Quadcode Markets Customer Support Test

We have contacted Quadcode Markets customer support several times through online chat and found that the support team’s answers were quick and professional. Traders should note that the online chat is available via the broker’s proprietary trading platform on desktop, mobile, and web versions.

There is no chat available on the website, so potential clients should either use the email from the contact form or open a demo account and ask their questions from the platform. The broker’s customer support is available in seven languages: English, German, Spanish, French, Italian, Polish, and Dutch.

Deposit and Withdrawal

The broker’s clients have multiple options to deposit and withdraw funds from their accounts. Bank Transfer is the slowest option for both deposits and withdrawals, while e-wallets offer instant service. Quadcode Markets does not charge fees for deposits and withdrawals.

Quadcode Markets Deposits

Quadcode Markets provides a high number of deposit options. These options include credit cards, bank transfer, and e-wallets. Four base currencies are available. The minimum deposit amount is 20 AUD, 20 EUR, 20 GBP, or 20 USD.

Quadcode Markets Withdrawals

As usual, the bank transfer is the slowest withdrawal method, which may take up to 5 business days. The minimum amount for withdrawals is 40 USD/GBP/EUR/AUD for bank transfers and card refunds, 10 USD/GBP/EUR/AUD for Neteller, and 2 USD/GBP/EUR/AUD for Skrill.

Account Types and Terms

Why is Choosing the Right Account Type Important?

The account you choose must suit your needs. Typically, the trader should focus on base currency options, contract size, commission, fees, the number of pending orders/positions, and the minimum deposit size.

What Account Types does Quadcode Markets Offer?

Quadcode Markets offers one type of an account. This is a spread-based account, where the broker charges spreads and swap/rollover fees.

What is CFD leverage*?

CFD Leverage allows you to avoid paying the full value of the position. Instead, you pay a deposit, which is called margin, while the remaining funds are borrowed.

In the Quadcode Markets’ case, the maximum leverage is limited to 1:30. This is a modest level of leverage, which is demanded by top-tier regulators like ASIC.

Quadcode Markets Account Opening Process

To open an account with Quadcode Markets:

1. Go to the register page and provide basic details to open an account.
2. Confirm your email.
3. Provide personal details, including your address and date of birth.
4. Answer questions on your trading background and experience.
5. Provide proof of your identity and address.

Demo Account

Quadcode Markets offers a demo account that allows you to test the broker’s services and your trading skills without risking real money.

Please note that your trading experience will differ when you use a demo account compared to a real-money account due to human psychology, as traders find themselves under pressure when real money is at stake.

It’s a good idea to use the demo account for practicing and learning the trading platform.

Research

Quadcode Markets provides its research support under the Market Analysis tab in its proprietary trading platform. The news feed includes news from popular financial websites. Traders also have a chance to take a look at the economic calendar and earnings calendar.

Education

Traders can find the tab named “Video Tutorials” in the broker’s trading platform. At the time of the review, the only video available was “Forex on margin. How to start?”. As a result, novice traders will have to search for educational support elsewhere.

The Bottom Line

Founded in 2022, Quadcode Markets has been in business for around 2 years. The broker operates via Quad Code AU LTD, which is regulated by ASIC, a Tier-1 regulator.

Quadcode Markets provides access to forex pairs, commodities, indices, stocks, and cryptocurrencies through CFDs. The minimum deposit is 50 AUD. The broker offers a spread-based account that charges spreads and swap/rollover fees.

Quadcode Markets offers multiple deposit and withdrawal options, which are available in four base currencies. The broker has developed a user-friendly trading platform, which is available on desktop, mobile, and web.

Novice traders will benefit from the low minimum deposit, strong regulation, and an easy-to-use trading platform. However, they should note that the broker’s research support is limited, while there is no educational support.

Advanced traders will benefit from multiple deposit and withdrawal options and Tier-1 regulator, although they should note that the leverage is limited to 1:30.

The products offered by the Company are complex and entail a high risk of losing money rapidly. You should consider whether you have the appropriate knowledge and understanding of how the products work and if you can afford to take such risk. Consider reading our TMD and other legal documentation available on our website before using our services. CFD traders do not own or have any rights to the underlying assets. The information provided is general and for information purposes only and does not take into account the clients’ personal needs, objectives or financial situation; you may consider seeking independent advice.

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