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QuickTrade Fees and Spreads

 

Quicktrade fees spreads bonus

 

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

  1. ✔️QuickTrade at a glance

 

QuickTrade at a glance

💬 Broker’s nameQuickTrade
🏛️HeadquartersJohannesburg, South Africa
⚖️Regulating authoritiesFSCA
🗺️Countries not accepted for tradeUnited States
📒Demo accountYes
☪️Islamic account (swap-free)No
✴️Institutional accountsNo
👨🏼‍💼Managed accountsNo
🔣 Maximum leverage1:500
💰Minimum depositR0 ZAR - Traders can only deposit in ZAR
➕Deposit optionsOZOW
EFT through FNB
PayFast
Skrill
Neteller
➖Withdrawal optionsOZOW
EFT through FNB
PayFast
Skrill
Neteller
📊Platform(s) providedMT5
📶OS compatibilityWeb
Desktop
Mobile
🛍️Tradable assets offeredCommodities
Forex
JSE, US equities and stocks
Indices
💬Languages supported on the websiteEnglish
💬Customer support languagesEnglish
⏲️Customer service hours24/7 technical support
24/5 trading support

 

QuickTrade fees and spreads Pros and Cons

✔️ Pros❌ Cons
ZAR deposit currencies supportedNegative balance protection not offered
Well-regulated brokerFees are not the cheapest
Transparent feesSwap 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.

 

Broker Fees

 

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:

  • Commodities
  • Forex
  • JSE, US equities, and stocks
  • Indices

 

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?

7/10.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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