Qik Trade is a forex broker established on August 14, 2023, whose official domain was registered on that date. It primarily offers investors trading services in financial derivatives, including forex, commodities, indices, stocks, metals, and cryptocurrencies, with its headquarters being unknown. The broker does not provide services in jurisdictions where it might constitute a violation of local laws or regulations.
Corporate Registration Information and Regulatory Status:
The official website of Qik Trade reveals that it is registered as QiK Trade LLC, but the website does not disclose detailed corporate registration and regulatory information. According to the contact page on its website, its contact address is in the Marshall Islands, and its terms of use state that QiK Trade LLC complies with the laws of Saint Vincent and the Grenadines.
Upon verification, the International Registries, Inc. (IRI) in the Marshall Islands, the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA), and the Commercial and Intellectual Property Office (CIPO) of Saint Vincent and the Grenadines do not list a registered entity named QiK Trade. Therefore, the authenticity of the broker's corporate entity is in question.
Account Opening:
To open an account with Qik Trade: navigate to the broker's official website and click "Open Account" on the homepage or "Sign Up" in the top right corner of the webpage to access the account registration page. Fill in the required information and submit. After submission, the account will be successfully registered.
Account Types:
The Qik Trade official website does not specify the types of accounts it offers to users. The broker claims on its website that the initial minimum deposit for a trading account is $50, with spreads starting at 1 pip and the maximum trading leverage at 1:200. Other details such as minimum/maximum trade size, trading commissions, swap charges, and maximum position size are not disclosed.
Trading Platform:
The homepage of the Qik Trade official website claims to provide users with the MT4 trading platform. However, upon clicking through to the website's trading platform interface, it turns out the broker offers a proprietary trading platform and only a web version is available. Moreover, no broker named Qik Trade can be found on the MT4 trading platform. A search using the website's domain name reveals that the site does not offer services on MT4.
Deposits and Withdrawals:
Qik Trade supports deposits and withdrawals through credit cards, Skrill, PAYEER, NETELLER, Bitcoin, and internal transfers between trading accounts. There are no fees for deposits using Skrill, while withdrawals are charged at a rate of 1.45%; PAYEER deposits are free, and withdrawals have a fee rate of 0.5%; NETELLER charges a 1% fee for both deposits and withdrawals; Bitcoin deposits require a network commission, and withdrawals incur a $20 charge; credit card deposits are subject to a 4.5% fee plus network commission, and withdrawal fees are not stated; internal transfers between accounts are free of charge for both deposits and withdrawals.
Summary:
Traderknows advises investors that Qik Trade is a forex broker whose corporate authenticity and regulatory information cannot be verified, and the broker's trading platform is suspected of false advertising. Traderknows recommends investors to choose brokers with transparency, strong regulation, and good reputation for their investment activities to avoid unnecessary financial losses.
Currently, this broker is marked as "suspected fraud" on Traderknows
