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QuoMarkets Exposed: High Slippage, Profit Withholding & Other Scams
Abstract：Failed to receive unlimited leverage as promised by QuoMarkets? Witnessing higher slippage and a subsequent drop in your trading account balance? Does the forex broker withhold your profits? These have become typical of the way QuoMarkets runs its operations. In this article, we have exposed the forex broker on all these points. Keep reading different QuoMarkets reviews.
Failed to receive unlimited leverage as promised by QuoMarkets? Witnessing higher slippage and a subsequent drop in your trading account balance? Does the forex broker withhold your profits? These have become typical of the way QuoMarkets runs its operations. In this article, we have exposed the forex broker on all these points. Keep reading different QuoMarkets reviews.
Top Trader Reviews Against QuoMarkets
Fake Advertisement of Unlimited Leverage
Leverage is a tool used by traders to gain a large market position for a small investment upfront. To acquire traders, QuoMarkets advertises unlimited leverage. However, that turns out to be a fake in reality. While at the same time, the high spreads do not help traders either. Here is a trader who criticized the broker sharply for failing to deliver on the leverage promise and other deficiencies.
Profit Withholding & Implying Coercive Acts
Despite maintaining a KYC-compliant trading account, traders witnessed massive profit withholding by QuoMarkets. In an incident, a trader admitted to having used USDT and deposited further as directed by the broker after being refused a withdrawal. Despite this, the company refused withdrawals and even threatened the trader with legal action after the latter posted about the trade manipulation on social platforms. Here is one startling review of QuoMarkets.
High Slippage Charges, Spread Manipulation Dampen Investment Mood Further
QuoMarkets is also accused of implying high slippage charges, manipulative spreads and other hidden fees to drain out the investor capital. The screenshot below explains the pain when trapped by such high and unexpected fees.
QuoMarkets Review by WikiFX - Regulation & Score
Even though regulated in the United Arab Emirates, QuoMarkets carries a score of just 2.46 out of 10 for the sheer manipulative trading activity displayed so far. The broker needs to do a lot to improve its brand image and maintain business.
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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