Quadcode Markets Review 2024

Trust

Quadcode Markets Regulations

In this section, we will delve into the regulatory frameworks governing broker’s various entities and what that means for you as a trader. We employ a rating system for regulators, ranging from 1 to 3, where Tier 1 signifies the pinnacle of trustworthiness.

• IQOption Europe Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC). We rate CySEC as a Tier 1 regulator.
• Quad Code AU Ltd is licensed by the Australian Services & Investments Commission (ASIC). We rate ASIC as a Tier 1 regulator.
• High Tech Invest Ltd is regulated by the Securities Commission of the Bahamas (SCB). We rate SCB as a Tier 3 regulator.

Why is it Important to Know Where Your Broker’s Subsidiary Is Regulated?

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

Quadcode Markets’ entities offer segregated accounts and negative balance protection. The segregation of clients’ funds ensures that clients’ money is not used for the broker’s own business purposes. Negative balance protection safeguards clients from losing more money than they have in their accounts. Clients of the CySEC-regulated entity also enjoy the protection of an Investor Compensation Fund, which covers losses of up to 20,000 euros in case the broker has financial problems.

I have summarized key aspects of the brokers’ entities in terms of regulation and safety in the table below:

Note that clients who meet certain requirements can qualify as professional clients and get access to leverage of up to 1:500.

Is Quadcode Markets Safe to Trade With?

Quadcode Markets functions via three distinct entities, each offering standard safeguards including segregated client funds and negative balance protection. Moreover, customers under the CySEC-regulated branch benefit from the Investor Compensation Fund, offering coverage of up to 20,000 euros in the unlikely event of financial difficulties faced by the broker. Considering the robust protective measures and the strict regulatory supervision, I regard Quadcode Markets as a relatively secure brokerage.

Stability and Transparency

In my tests for the Trust category, I also cover factors relating to stability and transparency. Here, I focused on how long the broker has been in business, the size of the company, and the transparency in terms of information being readily available.

Quadcode Markets has been in business for over 2 years. My research showed that the company is not publicly traded and does not operate a bank. Clients can find the important documents in a dedicated section of the company’s website. These documents include Terms and Conditions, Privacy Policy, Payment Policy, Risk Disclosure, Conflict of Interest Policy, Order Execution Policy, AML KYC Policy, and others. Details about the broker’s regulations can be found here. The Trading Specifications page contains the details on broker’s fees for retail and professional clients.

In summary, my research indicated that Quadcode Markets can be regarded as having a reasonable level of trust and stability due to the following factors:

• The broker has been in business for over 2 years.
• Its entities provide negative balance protection and offer segregated accounts.
• The CySEC-regulated entity is a member of an Investor Compensation Fund scheme.
• The company provides easy access to essential information on its website.

Fees

Quadcode Markets Trading Fees

For this review, I tested the Quadcode Markets Standard Account, where the broker charges spreads and swap/rollover fees but does not charge commissions.

Quadcode Markets Spreads

I tested the spreads on the Quadcode Markets during the London open at 8:00 a.m. UK time and just after the US open at 2:45 p.m. UK time. These are the most actively traded times.

I summarized my findings in the table below:

My tests showed that Quadcode Markets offers moderate spreads for EUR/USD and WTI Oil. While spreads for GBP/JPY, Gold, Apple, Tesla, Dax, Dow Jones, and Bitcoin were high.

Swap Fees

My tests indicated that swap fees for EUR/USD and GBP/JPY were high.

Non-Trading Fees

Quadcode Markets charges a dormant account fee of $10 per month if the account is inactive for at least 90 consecutive days.

Are Quadcode Markets Trading Fees Competitive?

My hands-on testing revealed that Quadcode Markets’ trading fees exceeded the industry average, except for spreads for EUR/USD and GBP/JPY.

Platforms and Tools

Desktop and Web Platforms

In my review, I explored the proprietary trading platform developed by Quadcode Markets. Tailored for contemporary traders, this in-house platform sports an aesthetically pleasing design paired with straightforward navigation.

General Ease of Use

The Quadcode Markets platform stands out for its user-friendliness and efficiency. One of the notable features is the inclusion of integrated broker chat support, enabling novice traders to seek immediate assistance while engaging with the charting tools. Beginner traders can also see which assets are the most popular in different categories when they look at the watchlists on the platform. In addition, the platform shows the size of the spread, so there is no need to calculate it. Furthermore, Quadcode Markets provides a demo account, allowing traders to hone their skills and familiarize themselves with the platform’s functionalities risk-free.

From my perspective, the platform’s learning curve is relatively gentle. Those with experience in trading should find the transition to this platform smooth. For beginners or those encountering challenges, the broker offers a selection of video tutorials, which effectively cover the platform’s fundamentals. Through my analysis, I observed that the desktop version operates slightly faster than its web counterpart.

Charts

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

The indicators include Momentum, Trend, Volatility, Moving Averages, Volume, and other indicators. Quadcode Markets also provides an opportunity to write your own indicators via scripts. The Quadcode Script language is based on Lua 5.3 and supports most of the Lua language features. Traders can check the documentation at github.

Timeframes range from 5 seconds to 1 month, providing the trader with an opportunity to focus on short-term developments and significant multi-month trends.

Quadcode Markets offers four chart types:

• Line
• Candles
• Bars
• Heikin-Ashi

I strongly prefer candlesticks as they suggest an abundance of various patterns that are used to make trading decisions. Often, a candlestick pattern would be more important for me than any other indicator. Yet, other chart types also have their fans.

The charts are easy to configure so novice traders will quickly craft the setup they want. At the same time, the platform’s charts provide sufficient options for advanced traders.

Orders

Quadcode Markets offers the following order types:

• Market order is used to buy or sell the instrument at the current marketplace. This order is used when a trader wants to establish a position as fast as possible. Typically, this order is necessary when the instrument’s price begins to move quickly. The main risk of this order is that you pay a spread, which is the difference between the bid price and the ask price.
• Limit order serves for buying or selling the instrument at a preset price, or better. This order is used when the trader wants to establish a position at a certain level and is not willing to pay current market prices. Using limit orders is a good way to control risks because the trader controls the price that will be paid. In case of a fast breakout, the limit order may be used as an “upgraded” market order when the limit price is placed above the current market price.
• Stop loss order is used to exit the position when the price is moving in the wrong way. This order is triggered when the price reaches a specified price point. At Quadcode Markets, pending orders can be opened in Distance, Amount, and Price.
• Take-profit order serves to take your profits off the table when the instrument reaches a specified price.

My Key Takeaways After Testing Quadcode Markets Desktop Platform

After a week of evaluating the Quadcode Markets Desktop Platform, I found it well-designed and easy to navigate. Those familiar with trading platforms should be able to tailor the setup to their preferences with ease. For more rigorous trading activities, I recommend the desktop version; its superior speed over the web version can be critical, as every second is pivotal in trading.

Quadcode Markets Mobile App

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

General Ease of Use

The Quadcode Markets Mobile App offers a straightforward and intuitive user experience. It comes equipped with essential trading tools such as charts, real-time quotes, and account balance insights, as well as news updates, an economic calendar, and an earnings calendar. Its functionality closely reflects that of the Quadcode Markets desktop and web platforms, ensuring a seamless transition for traders across different devices.

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.

My Key Takeaways After Testing Quadcode Markets Mobile App

During my week-long trial of the Quadcode Markets Mobile App, I noticed it replicates many features of its desktop and web counterparts, which is quite rare for mobile platforms. Although the smaller screens and touch interfaces of mobile devices may not lend themselves well to advanced charting, the availability of such features is beneficial for those who prefer to have comprehensive tools on the go.

Tradable Instruments

What are CFDs?

CFDs (Contracts for Differences) are financial instruments that allow traders to bet on asset prices without actually holding the respective assets. The key advantage of CFDs is the access to significant leverage, which is typically not available when trading other instruments. Hence, CFDs are very popular in short-term trading.

What Can You Trade with Quadcode Markets?

• 62 forex pairs. The list includes major and exotic options.
• 9 commodities. Traders can work with the most popular commodities, such as Gold, WTI Oil, and Natural Gas.
• 12 indices. Major indices like S&P 500, DAX, and Dow Jones are available for trading.
• 245 stocks. Traders have access to stocks from the U.S., Germany, France, Italy, Canada, Netherlands, Spain, China, UK, Mexico, Belgium, Sweden, and Argentina.
• 22 ETFs. SPY, JNUG, TLT, and other popular ETFs are included in the list.
• 26 cryptocurrencies. The broker offers popular cryptocurrencies like Bitcoin and Cardano, as well as more exotic names like Aptos and Qtum.

Quadcode Markets provides a balanced offering of tradable assets, which includes forex pairs, commodities, indices, cryptocurrencies, stocks, and ETFs. The number of available cryptocurrencies and indices is high, while the offerings in other asset classes fall in line with the industry standards.

My Key Takeaways After Exploring Quadcode Markets Tradable Instruments

After more than a week of exploring Quadcode Markets’ range of tradable instruments, I found their offering to be well-balanced. The broker offers 62 forex pairs, so traders will have a wide range of options, from majors like EUR/USD to exotic options like AUD/DKK. The cryptocurrency suite includes both popular coins and some exotic options that may have the potential for fast moves.

Customer Support

Quadcode Markets Customer Support Test

I’ve reached out to Quadcode Markets customer support on multiple occasions to inquire about critical trading aspects such as platform features, swap rates, and the procedures for deposits and withdrawals.

It’s worth mentioning that support can be conveniently accessed through the trading platform’s chat feature. Accessing this requires minimal effort; simply fill out a short form and set up a demo account. Alternatives include submitting a query through the contact form or directly calling their support line. Note that customer support is offered only in English.

Deposit and Withdrawal

Quadcode Markets offers a variety of deposit and withdrawal methods, such as credit cards, bank transfers, and e-wallets, accommodating EUR, GBP, and USD currencies. Notably, the broker does not charge any fees for deposits and withdrawals.

Quadcode Markets Deposits

Quadcode Markets clients can fund their accounts via credit cards, bank transfer, and e-wallets. The minimum deposit amount is 250 base currency.

Quadcode Markets Withdrawals

Quadcode Markets clients can withdraw money via bank transfer, Skrill, and Neteller. The minimum withdrawal amount for bank transfer is 100 base currency. Skrill provides an opportunity to withdraw just 2 base currencies, while the minimum withdrawal for Neteller is 10 GBP/11 EUR/13 USD.

Account Types and Terms

Why is Choosing the Right Account Type Important?

The account you choose must suit your needs. The main features to consider when looking for the best-fit account are base currency options, contract size, commission, fees, the number of pending orders/positions, and the minimum deposit requirement.

What Account Types Does Quadcode Markets Offer?

Quadcode Markets offers one type of account. This is a spread-based account, where the broker charges spreads and swap/rollover fees but does not charge commissions. Clients can also apply for a pro-level account, which is available for traders who meet certain requirements on their relevant experience, trading volume, and the size of their portfolio.

Pro-level clients have access to products with a higher risk profile (at the broker’s discretion) but are not eligible for coverage under the Investor Compensation Fund and get no protection under the applicable CFD product intervention measures.

What is CFD leverage?

CFD leverage allows traders to open positions by only providing a fraction of the total value, known as the margin, while the rest is effectively borrowed from the broker.

Major regulators such as the FCA, CFTC, and ASIC have put leverage caps in place to shield retail traders from undue financial risk. In contrast, some offshore or unregulated brokers may offer high leverage to entice traders aiming for larger returns, albeit at a higher risk and with limited protective measures. While high leverage can exponentially increase potential gains, it can also escalate losses, a fact that may elude beginner traders.

For Quadcode Markets, the leverage ceiling is set at 1:30, aligning with the cautious approach mandated by premier regulatory authorities like CySEC.

Quadcode Markets Account Opening Process

To open an account with Quadcode Markets, follow these steps:

• Click on Sign up on the main page of the broker’s website.
• Provide basic details to open an account, including your country and email.
• Provide personal information, including your address and date of birth.
• Answer questions on your trading background and experience.
• Provide proof of your identity and address.

What is a demo account?

Quadcode Markets offers a demo account, enabling traders to familiarize themselves with its services and practice trading in a risk-free environment.

A demo account simulates real trading conditions, permitting you to hone your skills without financial danger. However, it’s important to recognize that trading with a demo account can differ significantly from real-money trading due to the psychological impact of risk; the pressure of actual capital at stake can influence decision-making. While the demo account is an excellent tool for learning the ins and outs of the trading platform, it’s advisable not to over-rely on it, as real trading dynamics can be quite different.

Research

The Market Analysis section of Quadcode Markets’ proprietary platform offers research essentials. Users can access a curated news feed aggregating content from leading financial websites, alongside an economic calendar and an earnings calendar to track market-moving events and corporate announcements. These foundational resources cater to traders who need to stay informed about market events and financial updates.

Key Takeaways After Testing Research Tools

From my estimation, the research tools at Quadcode Markets are foundational, limited primarily to calendars and a news feed. While these features allow traders to correlate market movements with specific events or news, they fall short of offering comprehensive research capabilities for deeper analysis.

Education

Quadcode Markets caters to new traders with a series of concise video guides. Titles include practical topics such as “Opening a Position,” “Navigating Account Settings,” “Switching Between Real and Demo Accounts,” “Utilizing the Economic Calendar,” and “Getting Started with Margin in Forex.” While these tutorials offer a good starting point, those seeking comprehensive educational resources will need to extend their search beyond the broker’s current offerings.

The Bottom Line

Quadcode Markets is authorized by three regulatory bodies: CySEC, ASIC, and SCB, ensuring robust oversight. Each entity provides safeguards such as negative balance protection and segregated client accounts, with CySEC offering the added safety net of an Investor Compensation Fund.

The broker’s asset portfolio is comprehensive, spanning forex, stocks, ETFs, commodities, indices, and an extensive selection of cryptocurrencies — a likely draw for crypto enthusiasts.

The proprietary trading platform is intuitive enough for novices yet robust for veterans, featuring sophisticated charting tools and a range of analytical options.

Clients have access to a single spread-based account where our analysis indicates that the spreads are on the higher side compared to industry benchmarks. For EU-based clients, standard payment methods like credit cards, bank transfers, and e-wallets are available.

Educational resources are sparse – new traders will need to supplement their learning elsewhere. Research tools are similarly basic, though they cover essential functions.

Overall, Quadcode Markets strikes a balance with its appealing platform and diverse market access, tailored for traders who prioritize a streamlined trading environment over cost competitiveness and educational content.

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