Founded in 2017 in the Dnipro region of Ukraine, Quantower offers a comprehensive platform enabling users to trade various asset classes via multiple brokers using a plethora of complex charting and data analytics tools. Forex, crypto, futures, options, and stock trading are all available within the platform. Quantower has basic options available for free, but premium choices offer more flexibility.
The platform initially began as an effort to create an innovative, holistic trading solution for retail investors. The company describes its product as a high-functional online trading application for retail traders. Custom solutions are also available for prop firms and other trading businesses.
Pros and Cons
Pros
- A free version is available with all the essential functionalities, charting tools, and a single broker connection, suitable for beginners and those interested in testing the platform.
- Various asset classes and markets available.
- A large selection of synchronous data providers and connections to OpenAPI and VisualStudio is available for further workspace development.
- Traders can test strategies with proper market data using the trading simulator.
- The development team is always open to requests for new connections, functionalities, and analytics tools. Updates are released constantly.
Cons
- Determining which configuration is the most cost-effective is difficult, especially for newbies.
- The founders created the platform in Europe, and its headquarters remains there. Thus, much of its function is optimal for European traders and those outside the United States. Its geography also presents unique issues for American traders. For example, connections to Fidelity and Vanguard are still lacking.
- Quantower is available only for Windows. A robust system with at least 16GB of RAM and a quad-core processor is recommended for smooth operation.
Features
Quantower promotes itself as a comprehensive trading terminal enabling numerous brokerages and exchange connections to trade several asset classes across markets while using high-quality charting and analysis tools.
However, it is essential to note Quantower itself isn’t a brokerage. Traders must ensure that whichever brokerage they use to trade the assets they work with allows for a connection to Quantower.
What Can I Trade Using Quantower?
Although the lack of an in-house brokerage is a drawback compared to competitors, it doesn’t take away from the terminal’s functionality. Quantower has developed relationships with dozens of brokerages and exchanges, which allows its users to trade various asset classes, including:
Stocks
Traders can establish a connection to their preferred brokerage account to trade stocks using the tools available in Quantower. With the free version of the system, users are allowed only a single free connection for linking their stockbroker.
Of course, this means that traders must adhere to all the laws and regulations imposed on their brokerage of choice.
Furthermore, it is worth noting that some local connections are only available to traders in India, using the Indian release of Quantower exclusively. Further links to stock brokerages are still in development, and updates to the system are released almost on a monthly basis.
Forex
Most of Quantower’s brokerage and exchange connections support Forex trading. Traders can access several data feeds to analyze the markets. However, these features are available mostly to those who purchase paid subscriptions to higher tiers.
Cryptocurrencies
Quantower provides ample support for cryptocurrency traders. Similar to the other assets, numerous connections to leading brokerages and crypto exchanges like Lynx, Binance, and others are available. Live data feeds from various providers enable traders to combine advanced charting and analysis tools with the most up-to-date market information. It is important to note, however, that Quantower can’t connect directly to crypto wallets, such as Metamask. The assets must be managed within a connected brokerage account.
Futures
Quantower provides excellent support for futures traders. Identical to crypto, Quantower offers connections to various brokers. Multiple connections to data feed providers and a suite of charting tools are also available.
Options
Quantower’s support for options trading is comprehensive and exceptionally well-designed. Users can select an options desk view, analyzer view, or a combination of both. The UI displays several series simultaneously with various strike depths. Connections to data sources allow for displaying multiple calls and put options with their Greeks, implied volatility, and open interest. Users can take advantage of the analyzer view to create customized strategies, with various risk profiles displayed intuitively. Of course, users must connect a valid brokerage or exchange account to execute their trades or designate a secondary connection for options trading that differs from their other brokerages (if they have purchased a higher-tier subscription to Quantower).
Charting and Order Flow
Quantower boasts various charting and visualization tools that allow users to create their ideal workspace. Heiken-Ashi, tick charts, range bars, Kagi, Renko, point & figure, and line break charts are available, alongside time-based charting tools that allow the user to set custom periods.
Chart overlays are also supported, which enables traders to overlay different assets over set periods and graphs to compare their performance using absolute price scales. Trades can be placed directly from the workspace while viewing the charts.
Quantower also allows users to create synthetic exchange-listed spreads and symbols to track changes and analyze customized trading strategies and instruments. After completing a synthetic instrument in the workspace with several legs, traders can view and manage the “new asset” through the various charting formats available.
The platform supports various drawing tools and indicators, allowing traders to set up complex workspaces optimized for analyzing volatility, support and resistance, trends, and reversal points.
Quantower offers a custom workspace titled the DOM Surface for traders analyzing the market depth. Volume analysis tools help track order flow, and various DOM levels optimize the chart overlays to identify key opportunities. A heatmap mode is available to analyze liquidity at each set price level.
By connecting to a data feed, traders can analyze live trading activities with historical time & sale graphs. Data can be displayed using cluster charts and dedicated volume profile graphs for specified periods. TPO profile charts are also available so traders can analyze price distributions at crucial price levels throughout a trading session.
Personalization
Traders can set up their workspace with custom tools and charts to suit their individual needs.
Furthermore, depending on the type of subscription, traders may use the following:
- Connections from several brokerage accounts and data providers to analyze the current trends and transaction history across various markets.
- Hotkeys, presets, and mouse trading for faster and more efficient trading.
- Access to as many workspaces as necessary, all tailored to the user’s individual specifications.
- A custom Crypto Balances Panel supporting dozens of chart types across various accounts to allow for quick transactions and conversion alongside global market analysis.
- Combining several panels to fit within one display.
- Panel templates that can be created and saved for future use.
- Various personal visualization options that include adjusting the colors and themes of panels and charts.
- Several third-party extensions.
Setup and Pricing
Quantower uses a “freemium” model, in which users can download a free version supporting the main components of the terminal to test it out.
Furthermore, users can choose to purchase a paid subscription for more complete setups.
Here are all the available options:
- Free: Users can set up one connection to an integrated broker or data feed. All of the system’s basic functionality is included, such as a single overlay per chart, over 40 technical indicators, and all of the chart and mouse trading functionality.
- Crypto Package: Crypto Package: Users who download this version can pay $40 monthly, $108 quarterly, and yearly, or buy a lifetime subscription for $790. A discount is available for those who pay in a single installment. It supports all of the available crypto brokerage and exchange connections, some advanced features hand-picked for crypto traders, and volume analysis tools.
- Multi-Asset Package: This option costs $50 monthly, $135 quarterly, and yearly. A lifetime subscription costs $990. This package includes all available brokerage and data feed connections, along with the advanced features and volume analysis tools available with the crypto package.
- All-in-One Package: The version costs $70 monthly, $189 quarterly, and yearly, or $1290 for a lifetime package. Like the other plans, a discount is available for those who pay upfront. This version includes all connections and all paid features, with updates and improvements available immediately upon release.
- Third-Party Functions: You can also purchase various add-ins, strategies, panels, and connections developed by third-party providers. Most require payment, such as Trade Personal Assistant (TPA) by 3rd Dimension, which costs the user $30.
Downloading and setting up an account through Quantower is simple. Because it isn’t a brokerage itself and doesn’t verify user identities or collect much personal information. After agreeing to the terms of use and providing payment information (if necessary), users must download the application and extract the file. At first, they are prompted to set up their panels and connection data as they see fit. Traders must establish brokerage connections using the respective management systems and verification formats.
Note that transaction costs and brokerage fees depend on the connected brokerage or exchange account, not Quantower.
User Interface
Quantower is only available as a desktop application for Windows.
Traders can set up their panels as they see fit, given the markets, brokerages, assets, and trading strategies they prefer. In addition to the charts, indicators, and preset panels provided in the system, users can download additional third-party features.
Through the free subscription (with no third-party features or indicators included), users can:
- Use one overlay for each chart.
- Use two technical indicators for each chart.
- Set up multiple workspaces and templates that can be saved for future use.
- Use all trading functions, including chart and mouse trading.
- Use over 40 fundamental technical indicators.
- Use essential chart drawing tools as well as access the DOM panel.
What Indicators Are Available on Quantower?
The free version of Quantower supports over 40 technical indicators native to the platform. Some are primarily tailored for traders focused on specific strategies and markets, such as options trading, for example.
The higher-tier subscriptions support a wider variety of indicators.
In addition, there are also third-party tools for further customization of the panels and charts according to your needs. For example, one of the tools, called “PumpCatcher,” is designed to identify significant market changes in price and execute trades based on a set percentage change. Its fee depends on the size of the user’s capital in the brokerage account.
These and other third-party extensions are available to users once they create a Quantower ID and log into the online portal in their browser.
System Requirements
Quantower is only available to machines powered by Windows 10 or later. Because of the advanced trading platform and a constant stream of data collected from feeds, Quantower specifies the following requirements:
- Windows 10 or Windows 11 operating system.
- Microsoft .NET Framework v.4.8 is installed on the operating system.
- At least 1 GB of available disk space.
- Ideally, users run 16 GB of RAM, at least a quad-core CPU, and a solid-state drive (SSD).
Support and Forums
One of the benefits of using Quantower is the ability to quickly access live support. Instead of automated chat systems, the website, portal, and user interface prompt traders to reach out to the team directly when they need help downloading the terminal or any additional extensions. Users can also contact the team through Skype, Facebook Messenger, or Telegram. Quantower also frequently posts updates or important new information on Facebook, LinkedIn, YouTube, Twitter, and its blog.
Direct contact information for offices in Brazil, India, and the company’s Ukrainian headquarters are also on the website. The office hours are Monday through Friday, 9 am through 6 pm Central European time.
Because this system has been up and running for over half a decade, it already has an extensive global community of users. Forums on third-party websites like CodeWeavers.com and AMP Futures boast numerous users who share advice and strategies on effectively utilizing and customizing the platform to their needs. In addition to the blog posts, notes, videos, and live chat, these interwoven communities provide users with ample support when using the system.
Past Issues
Quantower constantly releases updates to help users navigate the system, install newly developed brokerage, exchange and data feed connections, and fix bugs. However, some issues still exist, including:
- Updates usually come every month. Most updates are first released with several beta versions, followed by a stable version, released after a while, which might make users wait to get their hands on the needed function or bug fix.
- New connections are often problematic in the way data is imported and displayed. These bugs, which are primarily a product of maintaining many third-party connections, can often confuse or frustrate the trader.
- Some users install Windows on Mac computers to run this program, which can cause many issues and technical problems.
Conclusion
Quantower is a comprehensive solution for traders who need a powerful terminal that serves as an all-in-one trading platform. It can combine accounts and data from numerous brokerages, exchanges, and live market data feeds into one desktop interface to streamline their charting and analysis.
However, because of the complex nature of the platform and the need to have above-average technical skills in making the most out of the supported features (charting tools, indicators, etc.), it might not be the best choice for beginners.
