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TQRtrade
Rating:
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
n/a
Regulated Broker
No

TQRtrade Broker Review

  1. TQRtrade is a forex and CFDs broker that offers cryptocurrencies as well. This broker also claims to offer an accessible way to make you rich, which we find a bit unusual. Most brokers like to accentuate the fact that you can use different strategies and features in order to participate in financial markets in a serious and responsible manner. TQRtrade review will help traders make a decision whether or not no trade with this broker that offers four different account types, and 1.6 EURUSD spread. They also brag to have a 24/7 customer support.

    If you want, you can skip to the part that interests you the most:

    We suggest you try another broker that has a free demo account and minimum deposit of only $10 – IQ Option.


    TQRtrade Accounts

    TQRtrade offers four different account types. Each account offers a certain set of features and services. What we found surprising is that traders must deposit a significant amount to get what they usually get for free. To understand this, make sure to check out the account features listed below.

    TQRtrade Standard Account

    • $250 minimum deposit
    • No live chat support
    • Limited access to all platform features

    TQRtrade Classic Account

    • $2500 minimum deposit
    • Live chat support
    • Access to all platform features

    TQRtrade Premium Account

    • $20,000 minimum deposit
    • Live chat
    • All features available
    • More information in autocharts
    • SMS signals
    • VIP manager
    • Direct phone line

    TQRtrade Gold Account

    • $50,000 minimum deposit
    • Benefits of Premium account
    • Special promotions
    • Personal reports on stock market

    So, traders who deposit a minimum of $250 get only the platform where they can trade. Such rather harsh treatment could turn some traders away. While we support the approach where broker gives some perks and benefits for traders who decide to deposit more, we believe how the level of service should be balanced and not discriminatory.

    TQRtrade Demo Account

    In TQRtrade review, we decided to put some effort into exploring their demo account. Unfortunately, this broker doesn’t offer a free demo you can use to check out the trading interface prior to trading. The first glance of the trading platform will be available to you only after you deposit. Adding a demo account would be a great way to motivate newcomers and smaller traders to deposit more as they could see what waits for them once they deposit more.

    TQRtrade Bonus Policy

    TQRtrade has a special offer for all traders from South Africa no matter how much they deposit. They are ready to give you a 30% bonus on your first deposit. Keep in mind that bonus is not free money, but comes with terms and conditions attached. TQRtrade bonus terms can be found in T&C document. Every trader that accepts the bonus must trade at least 3.3 lots for every $10 bonus that is added to your account. Each lot is 100,000 currency units. TQRtrade uses the phrase “at least” which is something that can leave traders confused, as it leaves space for manipulation and misinterpretation. We suggest traders not to accept a bonus, as it can affect their trading long-term.

    TQRtrade Platform

    TQRtrade claims to offer two platform types

    • One that is web-based
    • One that is Windows based

    Of course, in TQRtrade platform review we wanted to see what the trading platforms look like. The first step was to do some research on the website. We found no relevant information about the trading interface. Then, we registered for a trading account, hoping that we will be able to take a closer look. However, the broker asked us to make a deposit first.

    TQRtrade Assets

    The fact that the trading platform was out of our reached we cannot confirm that this broker really offers all tools and assets it promises. TQRtrade platform will remain a mystery to all traders who don’t make a deposit.

    TQRtrade Customer Support

    TQRtrade claims that they have customer support 24/7. For us, that menas that they can be reacy anytime. However, if you are a trader that deposits only $250, you will have to either make a phone call or send an email, as there is no live chat support available for you. Live chat is a feature that unlocks only after you deposit $2500. Also, TQRtrade users from South Africa can either send an email and wait for a response or pay some extra money for a phone call. There is no local number for South Africa.

    • TQRtrade phone: +44 208 089 2876
    • TQRtrade email:  [email protected]
    • TQRtrade Skype: tqrtrade.com

    When it comes to education, there is still a lot of place for improvement with this broker. For example, traders can’t really learn about trading and different strategies directly on the website. Adding a demo would be a great sort of support as well.

    TQRtrade Deposit and Withdrawal

    TQRtrade doesn’t clearly state depositing and withdrawing conditions. Their Terms and Conditions deliver some info on bonus withdrawals, but a lot of it remains unclear. For example, we were introduced to deposit methods only after we registered for a trading account.

    You can deposit by using:

    • Visa
    • Bitcoin tokenexus
    • Bitcoin
    • VoguePay

    We were unable to find out whether this broker charges any fees on deposits and withdrawals.

    TQRtrade Pros and Cons

    Pros

    • None

    Cons

    • Limited support
    • Bonus policy
    • Lack of important information

    We suggest you try another broker that has a free demo account and minimum deposit of only $10 – IQ Option.

TQRtrade articles