QuickTrade Fees, Spreads, and Commission trading involves fees from $0 / R 0.00 ZAR, spreads from 1.2 pips to 1.5 pips, and commission-free trading depending on the account traders select. Traders can only deposit funds in R/ZAR.
QuickTrade fees and spreads review – 6 Key Point Quick Overview
QuickTrade at a glance
|💬 Broker’s name||QuickTrade|
|🏛️Headquarters||Johannesburg, South Africa|
|🗺️Countries not accepted for trade||United States|
|☪️Islamic account (swap-free)||No|
|🔣 Maximum leverage||1:500|
|💰Minimum deposit||R0 ZAR - Traders can only deposit in ZAR|
EFT through FNB
EFT through FNB
|🛍️Tradable assets offered||Commodities
JSE, US equities and stocks
|💬Languages supported on the website||English|
|💬Customer support languages||English|
|⏲️Customer service hours||24/7 technical support
24/5 trading support
QuickTrade fees and spreads Pros and Cons
|✔️ Pros||❌ Cons|
|ZAR deposit currencies supported||Negative balance protection not offered|
|Well-regulated broker||Fees are not the cheapest|
|Transparent fees||Swap fees are charged|
|No Islamic account option for Muslim traders|
QuickTrade fees and spreads
QuickTrade charges a spread from 1.2 EUR/USD.
The spread list that traders can expect with QuickTrade will depend on the financial instruments they trade, with typical spreads as follows:
- EUR/USD – 1.2 pips
- GBP/USD – 1.5 pips
- USD/JPY – 1.5 pips
- AUD/USD – 1.5 pips
Commissions are charged on the following international instruments:
- US Equity CFDs – Traders will be charged 0.03 USD per share or a minimum of 15 USD for US Equity CFDs. If the commission total is below 15 USD, the trader will pay 15 USD for the trade, but if the commission is less than 15 USD, the trader is subject to 0.03 USD per share
- Index CFDs
- Margin FX
- Commodity CFDs
With SA Equity CFDs are charged at 0.57% or a minimum of R60 ZAR. If traders have 0.57% of exposure below 60 ZAR, they must pay 60 ZAR, but if traders’ exposure exceeds 60 ZAR, they will be subject to 0.57%.
Additional Trading Fees
Swap fees, or overnight fees, are credited/debited when trading with QuickTrade.
QuickTrade debits/credits overnight fees according to the SAFEY rate with either an additional 3% in the case of Long positions or less 3% in the case of Short Positions as follows:
- Short Positions – contract value x SAFEY rate – 3% x 1 day/365 days, paid each day that the position is held open, including weekends as well as public holidays.
- Long Positions – contract value x SAFEY rate + 3% x 1day/365 days, with this fee charged each day that the position is held open, including weekends as well as public holidays.
QuickTrade does not offer Muslim traders the option to convert their live trading account to an Islamic Account, which means that traders are subject to swap fees if they keep their positions open for longer after the trading session concludes.
As QuickTrade is not a spread betting broker, spread betting fees will not apply.
QuickTrade does not charge deposit fees or withdrawal fees. Traders can expect to pay additional transaction fees depending on their financial institution or payment provider.
Conditions may vary and change, relating to broker fees. Traders are urged to ensure that they verify trading and non-trading fees before they register for a live trading account.
You might also like: QuickTrade Review
You might also like: QuickTrade Account Types Overview
You might also like: QuickTrade Demo Account – Step by Step
You might also like: QuickTrade Minimum Deposit
Frequently asked questions
How many instruments can I trade with QuickTrade?
You can trade any of the following instruments:
- JSE, US equities, and stocks
Which platforms are supported by QuickTrade?
QuickTrade only supports the use of MetaTrader 5 on the following:
- Web browsers
- Desktop (Linux, macOS, Windows)
- Mobile (Android, iOS)
Does QuickTrade offer leverage?
Yes, QuickTrade offers leverage according to the trader’s account balance up to a maximum of 1:500.
What spreads can I expect with QuickTrade?
You can expect spreads from 1.2 pips EUR/USD.
Does QuickTrade charge commission?
Yes, QuickTrade charges commission.
Are there additional charges on the Islamic account?
No. QuickTrade does not offer the option for an Islamic Account.
Is QuickTrade regulated and by whom?
Yes, QuickTrade is regulated by the FSCA in South Africa.
Is QuickTrade a recommended forex trading broker for experts and beginners?
Yes, QuickTrade is recommended for both beginners and experts.
What is the overall rating out of 10 for QuickTrade?