QutalTrade
About Us: Overview of QutalTrade
QutalTrade is a trading services company that was established in 2016, specializing in Western stock markets. However, crucial details such as registration, jurisdiction, and licensing are notably absent from their website.
The company’s website, qutal-trade.com, is exclusively available in Russian. Despite this, QutalTrade claims to extend its trading services not only to Russian nationals but also to clients from diverse countries.
Trading with QutalTrade: Conditions and Information
QutalTrade offers trading opportunities that involve binary options, though they prefer not to label it as such. Their website furnishes trading guidelines and potential profits achievable through accurate forecasts.
- Step 4 in the “Start Trading” instructions allows clients to select the trade duration and speculate on the asset’s price movement within a specified timeframe.
- Step 5 assures profits for correct predictions, which are then deposited into the trading account.
Managing Funds: Deposits and Withdrawals at QutalTrade
QutalTrade maintains a veil of secrecy around its fund withdrawal procedures, devoid of recognizable payment system logos on their platform. Guidelines on withdrawing funds are detailed in the FAQ section.
While withdrawal commissions are kept undisclosed, clients are informed that they will shoulder payment fees, ranging from 5% to 15% of the withdrawal amount.
The processing time for withdrawal requests varies based on the transaction size: transfers under 50,000 rubles are typically processed within 3 days, amounts ranging from 50,000 to 250,000 could take up to 5 business days, and withdrawals exceeding 250,000 may require up to 10 days for processing.
Final Thoughts
Binary options remain popular due to their quick and user-friendly nature. However, it is crucial to note that automated brokers like QutalTrade operate in a regulatory grey area, potentially leaving clients’ interests unprotected.
The lack of transparency on the QutalTrade website may lead to customer discontent, particularly regarding essential details such as minimum bet sizes and ranges, which are noticeably absent.
Before selecting a binary options provider, seeking advice from an independent financial expert is always advisable.
This review has been prepared by the specialists at ExpertsReview.