Quant Tekel (QT Funded)
FSCA Regulated - Moderate TrustPros
- Licensed by Financial Sector Conduct Authority (FSCA) in South Africa with license number 53227 providing regulatory oversight
- Generous profit split up to 90% with weekly payouts for funded traders
- No time limits on evaluation challenges allowing traders to complete at their own pace
- Flexible scaling program allowing accounts to grow from $200,000 to $2,000,000
- Competitive spreads with institutional-grade execution across 150+ trading instruments
- Multiple platform options including TradeLocker, cTrader and MetaTrader 5
- No consistency rules or complex restrictions making it easier for traders to qualify for funding
Cons
- Limited regulatory coverage with only FSCA license, lacking tier-1 regulators like FCA/ASIC/CySEC
- Strict drawdown limits of 8-10% requiring careful risk management
- Evaluation fee required upfront with no free trial options
- Commission structure of $4 per lot is higher than some competitors
- Limited geographic coverage primarily focused on Africa and Asia regions
- No negative balance protection mentioned in available documentation
Basic Information
User Reviews
Regulation Analysis
QT Funded operates under the regulatory oversight of the Financial Sector Conduct Authority (FSCA) in South Africa, holding license number 53227. This regulatory status provides a moderate level of oversight and client protection, though it’s important to note that FSCA regulation is not considered as stringent as tier-1 regulators like the FCA, ASIC, or CySEC. The company maintains segregated client funds and adheres to South African financial regulations, which require regular reporting and maintenance of adequate capital reserves. Through Quant Tekel (Pty) Ltd, the firm must comply with FSCA’s operational requirements, including maintaining proper risk management systems and regular auditing of financial statements. The broker has maintained a clean regulatory record since establishment, with no reported fines or sanctions. However, traders should be aware that FSCA regulation may not provide the same level of investor protection mechanisms found in major financial centers, such as negative balance protection or participation in compensation schemes. The company’s regulatory framework primarily covers operations in Africa and Asia, and traders from other regions should carefully consider the implications of trading with a broker regulated solely by FSCA.
Trading Products
- Forex Trading: Wide range of currency pairs with leverage up to 1:100 on evaluation accounts and 1:50 on funded accounts. Major pairs, minors, and exotic currencies available with competitive spreads
- Metals Trading: Gold and silver contracts with leverage up to 1:35 on evaluation accounts and 1:15 on funded accounts
- Indices Trading: Major global indices including US30, SP500, and other worldwide markets with leverage up to 1:35 on evaluation and 1:20 on funded accounts
- Cryptocurrency Trading: Various crypto pairs available with conservative leverage ratios of 1:2.5 on evaluation and 1:1 on funded accounts
- Commodities: Range of commodity CFDs including energy and agricultural products with leverage up to 1:35 on evaluation and 1:20 on funded accounts
Trading hours vary by instrument class, with forex available 24/5 and other markets following their respective exchange hours.
Trading Platforms
- MetaTrader 5: Advanced trading platform offering sophisticated charting, multiple timeframes, depth of market functionality, and comprehensive technical analysis tools. Available for desktop, web, and mobile devices
- cTrader: Modern trading platform with advanced order types, detailed market depth, and algorithmic trading capabilities. Features clean interface and advanced charting tools
- TradeLocker: Proprietary platform providing specialized features for prop traders including detailed performance analytics and risk management tools
- Mobile Trading: All platforms available on iOS and Android devices with full functionality including charting, order placement, and account management
- Web Trading: Browser-based access available for all platforms requiring no downloads and providing full trading capabilities
Deposit and Withdrawal
- Account Funding: Evaluation accounts require upfront payment with multiple payment methods accepted including credit/debit cards, bank transfers, and e-wallets
- Withdrawal Process: Weekly payouts available for funded traders with standard processing times of 24-48 hours
- Payment Methods: Major credit cards (Visa/Mastercard), bank wire transfers, and popular e-wallet solutions supported
- Fees Structure: Standard commission of $4 per lot on most account types, with QT Prime variable spread accounts offering commission-free trading
- Account Currencies: Multiple base currencies supported including USD, EUR, and GBP
- Verification Requirements: Standard KYC documentation required including proof of identity and address before first withdrawal
Customer Support
QT Funded provides comprehensive customer support services with multiple contact channels available to traders. Support is accessible via live chat, email, and an online ticket system. The support team has received positive feedback for responsiveness, particularly through moderators like Viral QT and Jade who handle inquiries efficiently. Customer service is available during standard market hours with focus on Asian and African time zones. While response times are generally quick for live chat, email responses may take 24-48 hours. The support team demonstrates good knowledge of platform functionality and trading conditions, though some users report longer wait times during peak trading hours. Educational resources and documentation are provided through their website to assist traders with common questions and platform usage.
FAQ
Q: What are the evaluation program requirements at QT Funded?
A: QT Funded offers flexible evaluation programs with no time limits for completion. Traders must achieve a 10% profit target while adhering to maximum drawdown limits of 8-10%. The initial funded account size can reach $200,000 with potential scaling to $2,000,000. Traders must demonstrate consistent risk management and profitable trading to maintain funded status.
Q: How does the profit split and payout system work?
A: Successful traders can earn up to 90% profit split on funded accounts. Payouts are processed weekly for profitable traders who maintain their accounts within drawdown limits. The minimum withdrawal amount and specific profit split may vary based on account type and trading performance.
Q: What trading platforms and instruments are available?
A: QT Funded provides access to MetaTrader 5, cTrader, and TradeLocker platforms. Traders can access over 150 instruments including forex pairs, indices, metals, cryptocurrencies, and commodities. Each platform offers comprehensive charting tools, technical indicators, and automated trading capabilities.
Q: What are the commission and spread structures?
A: The standard commission is $4 per lot across most account types and instruments. QT Prime accounts with variable spreads offer commission-free trading. Leverage varies by instrument, ranging from 1:100 for forex evaluation accounts to 1:1 for cryptocurrency trading on funded accounts.
