qTrade Exchange Review : Best Exchange For Americans And Canadians?

What is qTrade?

qTrade is an online stock brokerage platform that was founded in 2000, Canada. It is overseen by the Investment Industry Regulatory Organization of Canada (IIROC), which is a top-ranked regulatory body.

It is considered a safe place to invest because of its achievements in the crypto industry over a long period of time and its elite protection for investors.

 

Can I use qTrade in the US?

Yes, you can use qTrade all across the US. This platform is recommended to all those investors who aim to target US and Canadian markets. Cryptocurrency markets are global, so you can use them from anywhere except for the restricted countries.

qTrade provides you with all securities for trading in stock markets of Canada and the US which includes Canadian Mutual Funds, Bonds and GICs. However, you can not use qTrade exchange for trading in foreign markets.

 

Does qTrade do KYC?

To protect investors from fraud and theft, qTrade has to verify identification of its clients. Moreover, verifying the identity of its customers helps qTrade to comply with KYC laws which is necessary for a US based company. All these measures are to make sure the termination of money laundering and other illegal activities.

 

Where is qTrade based?

qTrade is based in Vancouver, Canada. It operates in both Canadian and the US stock markets. Apart from that, qTrade Cryptocurrency Exchange allows you to buy and sell major cryptocurrencies.

 

Who founded qTrade Exchange?

qTrade Exchange was founded by Issac and Eric Cook and started working in the US, Kansas in April, 2018 and is owned by a company Credential Qtrade Securities Inc. which has been in the cryptocurrency business for quite some time and runs a Canadian brokerage platform i.e. qTrade. 

 

qTrade Exchange Overview

qTrade Exchange is a US based platform which offers exchange in a lot of cryptocurrencies such as Bitcoin, Litecoin, Dogecoin etc. It charges a fee for both takers and makers.

qTrade exchange demands a phone number from its users which will be used in a two-step verification system every time a user performs any activity on the platform.

The website is quite simple unlike other crypto platforms yet good to do the job. The motto behind this system is to reduce the barriers faced due to emerging and new setup and make people more familiar with blockchain technology.

 

qTrade Exchange Review

qTrade Exchange is a platform that provides quick trade execution without any complexities, has a robust security mechanism (two-step verification) for its users and an adaptable architecture.

It has limited users as people might confuse qTrade Exchange (cryptocurrency) platform with Canadian stock brokerage one.

The platform is not much modern in design and has its foundation on grassroot knowledge of crypto which is good for newbies.

 

User Interface And User Experience

User interface of qtrade.io is quite simple and user-friendly unlike other websites having intimidating dashboards. It removes the barrier of modern and innovative technology and enables you to freely explore and understand the crypto world.

 

Ease of Use

qTrade Exchange is an easy to use platform where you can get started in a few minutes just by creating an account and verifying your identity. Moreover, the working is also simple and can be comprehended by a little effort.

 

Customer Support

You can contact customer support of qTrade Exchange on their website and can submit a request related to your problem. qTrade has good and active customer support.

 

Exchange Fees

This platform charges a fee of somewhere between 0.5% to 0.15% to takers depending upon the asset being exchanged. While makers are charged a captivating fee of 0% on trading through qTrade Exchange.

 

Pros And Cons of qTrade Exchange

Pros Cons
High level security system which involves two step authentication to make the users’ account more secure. There seems to be no other language available other than English. This limits the use of the platform.
qTrade Exchange has a simple and easily digestible user interface for newcomers.  Exchange fee for takers is not so appealing i.e. 0.5-.15% which is double of 0.25% (global industry average).
0% fee for makers on exchanging cryptocurrencies.

 

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What Features Make qTrade Exchange Unique

qTrade Exchange has many such features that help it to stand out of other exchange platforms. The most prominent one is its grassroot approach to blockchain technology and to promote the crypto knowledge by removing barriers created by innovativeness of the technology.

Another feature that makes qTrade Exchange unique is its cheapest maker fees i.e. 0% among whole altcoin exchanges.

 

qTrade Exchange Android and ios Apps

There are currently no mobile apps available for qTrade users for android or ios systems. In future, they may have one for better user experience.

However, apps like google authenticator for 2FA and Trust Wallet app for storing BTC, ETH etc. are needed to be used by qTrade users.

 

Hedging In qTrade Exchange

Hedging is a strategy used for risk management on many exchnage platforms. It is an investment done to minimize the effect of adverse price deviation in an asset.

qTrade Exchnage provides this feature to its users so that they may offset the potential losses during their investment.

 

Is qTrade Exchange Legit? Is qTrade Exchange Regulated?

Yes, qTrade Exchange is legit and has one of the most hard and fast regulatory frameworks in the crypto business. qTrade Exchange has stated that they are ready to comply with current and future regulatory laws under U.S. regulation.

Being a U.S. based crypto exchange, they are complying with KYC to ensure strict security during any exchange activity performed through their platform.

However, apart from this compliance with U.S. regulations there is no clear mentioning of any formal regulation of the platform.

 

Is qTrade Decentralized?

qTrade is a centralized crypto exchange platform. Centralized exchange means that a third part will monitor and secure your transactions and assets on that platform.

These platforms require you to give your personal information for verifying your identity. Your withdrawal limit on these exchanges also increases by providing more info about you.

These types of exchanges are very popular with crypto users as they provide a variety of features, are easy to regulate and have high liquidity.

 

What countries can use qTrade Exchange?

qTrade Exchange entertains people from all over the world. However, due to some laws and regulations the residents of some regions can’t avail the services of qTrade Exchange.

These countries are:

Albania Bosnia and Herzegovina
Belarus Côte D’Ivoire
Congo Democratic Republic of Congo
Cuba Iran
Iraq North Korea
Liberia Montenegro
Macedonia Serbia
Sudan Syrian Arab Republic
Zimbabwe

You can know more details about this geographic restrictions by qTrade here.

 

What are qTrade Exchange Fees?

qTrade Exchange charges trading fees when a user sells or buys an order. The fee depends upon the value of the trade performed. However, no charges will be applied for placing or cancelling any placed order. Order can be executed either as maker or taker.

Suppose you place a new order and it matches with an existing order on the orderbook then your order will end up decreasing liquidity of the orderbook. This order will be a taker order. Contrary to this, if your order does not match any existing order then it contributes to liquidity of the orderbook. Hence, called as maker order.

Similarly, qTrade Exchange offers competitive withdrawal fees in comparison to other exchanges.

You can check out a detailed fee schedule of qTrade Exchange here.

 

What is qTrade Token?

In crypto, tokens are a special kind of virtual cryptocurrency that represent a particular asset or utility.

Unlike crypto coins that act only as a payment method, crypto tokens can act as a form of money, store the value of an asset over time and act as a substitute for other crypto currencies.

They have their own dedicated blockchain and are used to facilitate transactions from one platform to another.

There are many alternative crypto currencies that have been developed other than bitcoin. Some of them have a little or no trading volume while some are quite popular among investors.

qTrade Exchange has listed some tokens on their platform that fulfill their standards. You can purchase these tokens and deposit them on qtrade to start dealing in crypto. You can also suggest tokens to be listed via support if they meet requirements.

You can view a list of tokens by clicking ‘Markets’ here.

 

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qTrade Token Supply

As discussed earlier, many crypto tokens are listed on qTrade Exchange. Each of them has its own circulating, max and total supply. You can check out any of these supplies by doing a quick search on google.

 

How does qTrade Exchange Leverage Work?

For crypto inverstors, leverage is a safe spot. You can lift any thing with a lever if the provided spot is firm. It is used in crypto trading when you have not enough capital to buy an asset of a certain value.

qTrade Exchange offers leverage mechanism for its users to get benefit by using it.

 

Is qTrade Exchange Safe?

Yes, qTrade Exchange is safe to work on. It offers trustable and secure service with a clean record against hacks, thefts or data leaks. You can check security practices followed by the website in detail here.

In case of any hacking attempt on your account, you are entitled to lock your account on receiving a login notification email.

Also, there are multiple layers of security checks to provide a risk free experience to the users and make them protected against any theft attempt.

 

How do I Withdraw Money from qTrade Exchange?

You can withdraw money from qTrade Exchange by verifying your identity. Identity verification is necessary to protect clients from theft and prevent other illegal activities.

As you know that qTrade is a US based exchange, hence it must fulfill KYC laws and other regulations under U.S. laws. Therefore, verifying identity helps qTrade to make the platform more secure against fraud, money laundering and other such activities.

These money withdrawals requested by users are processed automatically within 60 minutes usually.Your withdrawal limit depends upon the level of verification you provide to the platform. 

Unverified Email $0 per day
Basic Identity $2,000 per day
Basic Identity

(with two factor authentication)

$4,000 per day

(double of the amount without 2FA)

Government ID $25,000 per day
Government ID

(with two factor authentication)

$50,000 per day

(double of the amount without 2FA)

 

qTrade Exchange Withdrawal Fees

qTrade Exchange charges fee for a withdrawal performed by a user. For a bitcoin withdrawal, 0.0005 BTC withdrawal fee is charged by the exchange.

This figure is quite lower than the average of global industry value which is 0.0008 BTC approximately.

 

What coins are on qTrade Exchange?

qTrade Exchange supports certain coins to be used on their platform. It is quite noticeable that there are relatively fewer listings on qTrade than other altcoin exchanges.

This clearly adds weight to their claim of quality over quantity. Some popular coins listed on qTrade are mentioned below:

You can get more details about coins available on qTrade Exchange here.

 

Who owns qTrade Exchange?

qTrade Exchange is founded and owned by two brothers, Issac and Eric Cook. The company name is registered as QTrade LLC and other details such as trading address, company number etc. can be found on this website.

The developers behind qTrade Exchange have been working in the blockchain world since 2014, creating crypto groups and mining pools and then launching qTrade in 2018.

You can view more information about the team by visiting the ‘about’ section of the website here.

 

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How can I use qTrade Exchange from USA?

You can use qTrade Exchange from the USA by creating your account. Creating an account on qTrade is a very simple and easy process.

  1. You can start by clicking on ‘SIGN UP’ or ‘CREATE ACCOUNT’ on the homepage of qTrade.
  2. It will then ask you to enter a valid email address and a password.
  3. Confirming the password will create your account.
  4. Then, you need to verify your email.
  5. Check your inbox and find the email form qTrade support.
  6. Click ‘confirm your account’ to verify your email.

You are ready to do with your Crypto trades after you finish this simple onboarding process in qTrade Exchange.

 

qTrade Exchange OTC Trading

Anyone who wants to trade a large amount of crypto currencies, they can use OTC trading on qTrade Exchange. OTC is simply a trade of crypto assets directly between two parties without involving any third party.

This trade can be crypto to crypto or fiat currency to crypto and vice versa. It mainly exists to make the buying or selling of large volumes of crypto easy without any issues.

 

qTrade Tier Fee Program

Having higher trading volume on your qTrade account makes you eligible for a rebate on fee for upcoming orders.

For this purpose, accounts are classified into tiers based on their trading volume. You can view further details regarding rebate tiers here.

 

Takeaways – qTrade Exchange Review

In a nutshell, qTrade Exchange is an emerging exchange platform having its own pros and cons. qTrade is in favor of a more grassroot approach which is something on which cryptocurrency is based on.

It is a secure platform with many benefits. As usual, there are some minor issues needed to be overcome, which they will in future. A must recommend for new users that have not much knowledge of crypto and blockchain.