iQuoto Limited is an appointed representative of Kapwealth Limited, a firm, authorised and regulated by the Financial Conduct Authority (FCA). This means iQuoto Limited does not hold any client funds and uses third-party custodian services. Thus, the clients’ money is held by the FCA regulated company Kapwealth Limited and iQuoto benefits from traded volume only.
Customers can trade over 50 currency pairs, 11 global indices, 4 precious metals and energy products (US Oil and UK Oil). iQuoto offers all clients access to MetaTrader 4 (MT4) trading platform that is one of the world’s most popular trading terminals, providing advanced charting, real-time news, and analytics tools.
There are more than 70 indicators available with iQuoto. All MetaTrader platforms have a built-in marketplace where you can find Expert Advisors (EA) and technical indicators made by the MetaTrader community. The platform can be downloaded for Windows OS and as a mobile application for iOS and Android devices.
There are two account types that do not require a minimum sum for initial deposit. The Standard account offers ‘competitive’ spreads with no trading commission. The average spread for the EUR/USD pair is 1.3 pips. The ECN account provides near zero spreads at the expense of a USD3 commission per lot. The company servers are hosted by the Equinix data center in London and the execution time is within 5 milliseconds, the company said. In addition, iQuoto offers institutional clients the opportunity to obtain market liquidity through the Financial Information Exchange (FIX) protocol, which is a messaging standard designed to transfer huge amounts of information at high frequency.
The Terms of Business document reveals that there is no limit to potential losses and under extreme volatility the likelihood that your account will turn into a negative balance increases significantly. This means you can lose more than your initial invested capital and you must cover the shortfall on your account within one business day. Stop loss orders are not guaranteed and can be filled at the first available price.
The company acts as an agent and transmits client’s orders to another broker for execution, or it fills these orders for the client’s behalf. This means that iQuoto uses the Straight Through Processing (STP) model of orders fulfillment.
In general, iQuoto is a while label of an FCA regulated company. There is no conflict of interest because it acts as an agent (not as a market maker) via the STP model. You can trade through the most popular MT4 terminal choosing between two types of accounts. However, iQuoto does not offer negative balance protection and you can lose more funds than you invested.