QuickTrade Account Types & How to Open

QuickTrade (Pty) Ltd, a South African-registered entity founded in January 2022, presents itself as an online CFD trading platform offering commodities, currencies, U.S. equities and indices. The company’s official domain is not listed in our records, and its public footprint is limited to Instagram and YouTube. In FXCanary’s assessment, the absence of a verifiable website domain is a notable red flag — traders should always confirm they are dealing with the registered entity before depositing funds.

Our records show the firm holds a Derivatives Trading License (EP) with the Financial Sector Conduct Authority (FSCA), licence number 45262. However, the status of that licence is not published in our files, and the company reports zero employees. While the FSCA is a reputable regulator, an inactive or unverified licence status combined with a minimal operational footprint warrants caution. We cross-checked the licence against the public register as far as our records allow, but the lack of a status confirmation means we cannot fully verify the firm’s current regulatory standing.

QuickTrade advertises two primary account types: a 100% FTD Bonus Trading account and an Islamic Trading Account. The FTD bonus appears to be a first-time deposit bonus, effectively doubling the initial capital — a common promotional tactic among CFD brokers. While such bonuses can be attractive, they often come with strict trading volume requirements before profits can be withdrawn. We could not find any terms and conditions in our records, so traders should treat the bonus as a marketing incentive that may carry hidden conditions.

The Islamic Trading Account, also known as a swap-free account, is designed for traders who observe Sharia law and cannot earn or pay interest (swap fees) on overnight positions. This is a standard offering among brokers catering to Middle Eastern and Muslim-majority markets. However, we have no details on whether the swap-free feature is applied automatically or whether additional administrative fees are charged. In our view, the lack of published terms for either account type is a significant information gap.

Our records do not specify a minimum deposit for either account type. Similarly, leverage levels are not disclosed in the known facts. This is a critical omission — leverage is one of the most important risk factors in CFD trading, and a responsible broker should clearly state maximum leverage per jurisdiction. Without this information, traders cannot accurately assess their potential exposure.

We advise traders to contact QuickTrade directly to obtain these figures in writing before opening an account. If the broker is unable or unwilling to provide clear answers, that in itself is a warning sign. In FXCanary’s experience, reputable brokers are transparent about deposit thresholds and leverage, especially when operating under a regulatory licence.

The company description notes that QuickTrade does not specify any fees for deposits and withdrawals. While this might suggest free transactions, it could also mean that fees are hidden or applied at the payment processor level. We found no information on spreads or commissions in our records. For a CFD broker, spreads are the primary cost of trading, and their absence from public documentation is unusual.

Traders should be aware that low or undisclosed spreads often come with other costs, such as wider markups on certain instruments or overnight financing fees. Without a clear fee schedule, it is impossible to compare QuickTrade’s pricing with industry norms. We recommend requesting a detailed fee breakdown before committing funds.

QuickTrade offers trading through MetaTrader 5 (MT5), one of the most widely used platforms in the industry. MT5 provides advanced charting tools, automated trading capabilities, and access to multiple asset classes. This is a positive sign, as it indicates the broker is using established technology rather than a proprietary platform that may be less reliable.

However, we have no information on whether QuickTrade offers a demo account. A demo account is essential for testing the platform and the broker’s execution quality without risking real money. Given the limited public information, we strongly advise traders to seek a demo account before making a deposit. If QuickTrade does not offer one, that is a significant drawback.

Our records do not detail the account-opening process for QuickTrade. Typically, a CFD broker will require personal identification documents (such as a passport or ID), proof of address, and possibly a source of funds declaration. The process usually involves filling out an online application, verifying the documents, and then funding the account.

Given the lack of a verified website domain, we cannot confirm whether the application process is fully digital or whether it requires manual approval. We also cannot verify the security of the data transmission. Traders should be cautious about submitting sensitive personal information to a broker with such a limited online presence. We recommend contacting the broker via their social media channels to request a detailed explanation of the KYC process.

The FXCanary Scam Risk Score for QuickTrade is 42/100, which we classify as 'Guarded'. This score reflects the limited public information available, the unverified licence status, and the absence of a clear website. While we have not found evidence of cloning or impersonation, the lack of transparency is concerning.

Traders should also note that the company reports zero employees, which is unusual for a licensed financial services provider. This could indicate a very small operation or that the entity is a shell. Combined with the promotional 100% bonus, which is often used to attract inexperienced traders, we urge caution. Always verify the FSCA licence status directly with the regulator before depositing funds.

In FXCanary’s assessment, QuickTrade offers standard account types that are common in the CFD industry, but the lack of disclosed details on minimum deposits, leverage, spreads, and fees is a major concern. The FSCA licence is a positive indicator, but the unverified status and zero-employee count undermine confidence.

We recommend that only experienced traders who fully understand the risks consider opening an account, and only after obtaining written confirmation of all terms. For most traders, especially beginners, the lack of transparency makes it difficult to recommend QuickTrade at this time. We will continue to monitor the broker and update our review as more information becomes available.