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Independent rating of Forex broker 7Q Financial Services

0/10 (votes 100)

On-line since
-
Country of origin
Cyprus
Regulation
CySEC
Payment options
-
Minimum account size
-
Minimum lot size
-
Leverage
-
Spreads
-

About company

7Q Financial Services is an investment company that provides asset management services for various organizations, investment, pension, and reserve funds, as well as insurance companies and various categories of high-income people. The company offers its clients tailor-made, actively managed, single and multi-asset class solutions, independent investment advice, execution, custody, and fund turnkey services. The company’s headquarters are in Nicosia, Cyprus. 7Q Financial Services is controlled by the Cyprus Securities and Exchange Commission (CySEC). By the CySEC standards, brokers are obliged to secure client’s funds by storing money in segregated accounts. Moreover, they must deliver regular reports to the regulator. The broker cooperates with the Investor Compensation Fund. It guarantees payments of a compensation in the amount of up to €20,000 to clients in case a company goes bankrupt.

Trading conditions

Notably, 7Q Financial Services official website lacks information on trading conditions. If clients want to know more about the minimum transaction size, initial deposit, fees, and payment methods, they should contact the company’s representatives. The company’s clients include discretionary investment management, investment consulting, and securities trading. Discretionary investment management means that, under the terms of a discretionary account, a trader grants the broker the right to carry out financial activity at its own discretion. That is, to conduct account transactions without prior consultation with a client. Investment consulting implies that a broker supports companies or institutional clients in order to analyze their financial risks. Thus, the company offers its clients various investment ideas, help in choosing leverage, investment managers, as well as various third-party providers in financial matters. All the company’s recommendations are based on the forecasts of financial analysts. Thanks to 7Q Financial Services, clients can trade securities in cooperation with banks, brokers, and other third-party vendors. The broker provides access to a wide range of financial instruments, including stocks, bonds, ETFs, mutual funds, hedge funds, exchange and OTC derivatives, as well as currency pairs and commodities. In addition, the company supervises the placement of orders, their proper execution, as well as the receiving of reports that contain client requirements.

Support service

For more information on trading conditions, clients should contact the 7Q Financial Services managers directly. The contact details, including phone numbers, fax, and email, are indicated on the official website. Apart from that, users can reach out to the broker by means of a feedback form.

Traders’ reviews

There are practically no comments about the company on the Internet. Based on those few reviews found on the Web, traders are discontent with the lack of detailed information on the official website. Apart from that, traders can wait for a response from the broker’s support service for up to 9 days.

Advantages and disadvantages

Given that the company’s official website lacks information on trading conditions, we can distinguish only one advantage. The company is regulated by a reliable financial authority. This fact guarantees the safety of clients’ funds and protection from fraudulent activity. The main disadvantage of 7Q Financial Services is a complete lack of details on trading conditions.

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