1. Home
  2. Cryptocurrency Day Trading

QTUM Day Trading 2024 – Tutorial and Brokers

Qtum is one of the most popular day trading coins. Qtum, pronounced ‘Quantum’, is a coin that essentially merges the reliability of bitcoin’s blockchain with the possibilities of smart contracts, for business-oriented uses. This page will detail precisely how Qtum trading works, including its history, exchanges, wallets and mining.

QTUM Brokers

  1. Eightcap
  2. Skilling
  3. Pocket Option
  4. EagleFX
  5. M4Markets

#1 - Eightcap

Why We Chose Eightcap

Eightcap’s crypto offering is best-in-class with 250+ crypto derivatives, surpassing that of almost every alternative. Testing also reveals Bitcoin spreads of 12 pips, coming in lower than most competitors, while it offers real-time trading ideas through the Crypto Crusher market scanner. Add in convenient deposits and withdrawals in digital currencies, and Eightcap offers the complete package for serious crypto traders.

"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."

- DayTrading Review Team
  • Coins: BTC, ETH, LTC, BCH, XRP, XMR, DSH, EOS, XLM, ADA, TRX, DOGE, BNB, DOT, MATIC, VET, AXS, NEO, SOL, UNI, AAVE, KSM, THETA, CAKE, SUSHI, ATOM, XTZ, SNX, COMP, FLOW, EGLD, PUNDIX, RAY, ZIL, QTUM, BAND, OMG, FIDA, BADGER, NEAR and many more
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: $12 (BTC)
  • Crypto Lending: No
  • Crypto Staking: No
  • Platforms: MT4, MT5, TradingView
  • Minimum Deposit: $100
  • Regulator: ASIC, FCA, xCySEC, SCB

Pros

  • Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
  • With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
  • Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.

Cons

  • Despite a useful library of educational guides and e-books, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
  • Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
  • In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
Visit Eightcap

#2 - Skilling

Why We Chose Skilling

You can trade 50+ crypto pairs via leveraged CFDs. The list of tokens is longer than many rivals, including Vantage with only 30+, and you can get started easily with just $100.

"Skilling maintains its position as a top pick for beginners looking for a competitive zero commission account with direct access to a copy trading feature. It will also serve experienced strategy providers looking to earn commissions, or anyone looking to trade forex during extended hours."

- DayTrading Review Team
  • Coins: ACM, APE, AVE, ATM, AVA, AXS, BTC, BAR, BNB, BTC, BSV, XBN, ADA, CHZ, ATOM, CRO, DASH, MANA, DOGE, EOS, ETH, ENJ, XET, ETC, FTM, ONE, HT, IOTA, JUVE, LTC, LNK, XLC, XMR, NEO, OMG, PSG, CAKE, DOT, MATIC, QTUM and many more
  • Crypto Mining: No
  • Auto Market Maker: Yes
  • Crypto Spread: BTC 0.5
  • Crypto Lending: No
  • Crypto Staking: No
  • Platforms: Skilling Trader, MT4, cTrader, TradingView
  • Regulator: CySEC

About Skilling

Skilling is a multi-asset broker founded in 2016 and based in Cyprus. The brand offers hundreds of day trading instruments with competitive spreads from 0.1 pips and beginner-friendly platforms. Skilling are also regulated in Europe and beyond with a transparent pricing structure. You can sign up and start trading in three easy steps.

Pros

  • The €100 deposit and zero commissions in the Standard account are accessible for beginners
  • Excellent third-party charting platforms are available for serious day traders, with dozens of technical indicators and advanced order types
  • The Skilling Copy solution is accessible directly from the cTrader web terminal, making it easy for strategy providers to manage their portfolios

Cons

  • Skilling trails alternatives like IG when it comes to research tools that can help day traders make informed decisions
  • You can only access shares in the Skilling Trader platform and fewer instruments are available overall in the MT4 accounts
Visit Skilling

#3 - Pocket Option

Why We Chose Pocket Option

Pocket Option offers a modest crypto offering with 10+ digital currencies including Bitcoin and 65+ tokens if you deposit $1000. The integrated analytics feature in the platform is helpful for finding opportunities, while the daily signals service makes it straightforward to act on short-term crypto opportunities.

"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."

- DayTrading Review Team
  • Coins: BTC, ETH, BCH, LINK, AAVE, ALGO, TLM, ALPP, ANT, AVAX, AXS, BNB, ADA, CHZ, COMP, ATOM, DASH, MANA, DGB, DOGE, ENJ, EOS, FIL, GLMR, ILV, ICP, KAVA, LTC, MKR, MASK, MIOTA, XMR, ALICE, NEAR, NEO, NULS, OMG, DOT, MATIC, QTUM and many more
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: N/A
  • Crypto Lending: No
  • Crypto Staking: No
  • Platforms: Web, MT4, MT5
  • Minimum Deposit: $50
  • Regulator: MISA

About Pocket Option

Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.

Pros

  • Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks
  • The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders
  • The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries

Cons

  • You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available
  • Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
  • The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
Visit Pocket Option

#4 - EagleFX

Why We Chose EagleFX

A strong range of cryptocurrencies are available with 35+ tokens including popular assets like Bitcoin and Ethereum. You can also make convenient Bitcoin deposits within minutes, with no transfer fees.

"EagleFX will serve experienced day traders looking for raw ECN spreads, high leverage and fast withdrawals. Beginners can also take advantage of the low $10 minimum deposit and round-the-clock support. However, the lack of regulation is a major drawback."

- DayTrading Review Team
  • Coins: BCH, BTC, DASH, EOS, BIT, ETP, LTC, BTC, OMG, ZEC, USDT, BCH, ETP, QTUM, XMR, DOT, ETC, IOS, NEO, SAN, ZRX, EDO, ETH, IOT, NEO, SAN, XRP, BTG, EDO, ETH, OMG, TRX, XRP
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: Floating
  • Crypto Lending: No
  • Crypto Staking: No
  • Platforms: MT4
  • Minimum Deposit: $10

About EagleFX

EagleFX is a forex and CFD broker, established in 2019. The broker uses STP execution on the MT4 platform, offering tight spreads and low commissions. With leverage up to 1:500 and no restrictions on hedging or scalping, EagleFX is an attractive option for short-term traders.

Pros

  • EagleFX continues to offer 24/7 customer support to clients via live chat, email or telephone
  • The $6 round-turn commissions are competitive (other commission structures we review come in at around $7 per round-turn)
  • The broker offers free and unlimited demo accounts in MT4, plus no inactivity fees - ideal for beginners seeking flexibility

Cons

  • There are very limited educational resources, market research and popular additional tools like copy trading - common features found at many alternatives
  • The range of 100+ instruments is very limited compared to the hundreds offered by most other competitors
  • The broker is based offshore and is unregulated, meaning traders will receive little to no safeguards
Visit EagleFX

#5 - M4Markets

Why We Chose M4Markets

M4Markets offers a decent range of 15 crypto CFDs paired with USD. Traders can get started with as little as $5 and enjoy zero commissions on crypto trades. Spreads on BTCUSD average around 14.1 which is competitive and in line with the top low-cost crypto brokers.

"M4Markets will serve active investors looking for highly leveraged trading on powerful third-party platforms. Other investment opportunities are also available, including copy trading and MAM/PAMM accounts."

- DayTrading Review Team
  • Coins: BTC, ETH, LTC, XRP, DOGE, DASH, XMR, OMG, NEO, QTUM, ZEC, DOT, SOL, ETX, AXS
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: From 0.0 pips
  • Crypto Lending: No
  • Crypto Staking: No
  • Platforms: MT4, MT5
  • Minimum Deposit: $5
  • Regulator: FSA, CySEC

About M4Markets

M4Markets is an award-winning broker regulated by the CySEC, FSA and DFSA. Although relatively new, the broker continues to improve its offering with a range of innovative tools, platforms and accounts. Beginners can start with just $5, whilst experienced investors can access leverage up to 1:5000.

Pros

  • Execution speeds are fast, averaging 30 ms (we consider anything below 100 ms as fast and suitable for active day traders)
  • Reliable 24/5 customer support is available in 10 languages via live chat, telephone and email
  • There’s a wide range of global payment methods available, with no deposit or withdrawal fees

Cons

  • The range of around 200 investments is slim compared to top brokers, who typically offer over 1000
  • M4Markets doesn't offer any rebate schemes or rewards for active traders
  • The educational resources trail the best brokers with only a small selection of eBooks and webinars offered
Visit M4Markets

Chart

QTUMUSD Chart by TradingView

What is Qtum?

Qtum aims to utilise and enhance existing blockchain technologies to develop a network for global business applications. Therefore, concepts and established code have been taken from blockchains, such as bitcoin and ethereum.

So the simplest way to think about Qtum is as a toolkit for building decentralised applications (Dapps). Its hybrid makeup has helped it to develop a unique PoS consensus protocol while retaining compatibility with blockchain systems. In addition, native support is available for both mobile devices and IoT appliances.

History

With headquarters in Singapore, both the cryptocurrency and technology are being developed by the Qtum Foundation. So far, Asian markets have been the focus of marketing efforts, earning it the nickname ‘Chinese Ethereum’. However, its popularity is now on the rise in countries apart from China, Japan and Korea.

The company and its cryptocurrency have attracted most of its funding from 11 angel investors. One of the backers is Anthony Di Iorio, a founder of ethereum. He said of Qtum, “All in all, I believe them to be the best team out of China and Asia. This has led them to see where improvements are needed in smart contract platforms, learn from mistakes of ethereum, and focus on the region they know best.”

Initial discussions and reviews saw the company raise $1 million USD from investors. With those funds, they created the testnet and early implementation. Following positive news announcements from their early success, they were able to raise $15.6 million in a 5-day crowd-sale in March 2017.

The company’s encouraging long-term prospects is in part due to the established figures within the team. For example, they have a huge range of developers and blockchain professionals, including Neil Mahi and Jordan Earls. Both are considered veterans in the cryptocurrency and blockchain world.

Qtum Uses

Qtum is primarily for businesses, promising a straightforward way to embrace blockchain without the risks and complexities that come with bitcoin and ethereum. As a result, it can be used to:

For more detailed descriptions of Qtum’s practical uses, head online and read the white paper.

Technology

The platform allows for both smart contracts and master contracts with off-chain data. Master contracts actually achieve far more than normal smart contracts. Of course smart contracting is already available with NEO and ethereum. However, Qtum combines this with bitcoin’s UTXO, otherwise known as ‘unspent transaction output’, which nodes use to validate transactions from its own database.

The proof of stake consensus is arguably more applicable for business use. This is in line with the idea that Qtum improves current blockchain technologies, making it more attractive to enterprises.

Users have the ability to create their own tokens and automate agreements within a stable infrastructure. The expanding smart contract library promises instant accessibility. Users should be able to choose from off the shelf agreements for supply chain management and social networking, to name just a few. In fact, the advantages of smart contracting can be applied to virtually all industries.

On top of that, Qtum is committed to implementing tools, templates and other contract options that will make it simpler for businesses to develop and execute smart contracts. For example, they have added to bitcoin’s blockchain allowing ethereum’s virtual machine for smart contracts to run alongside bitcoin.

Mobile Capabilities

One obstacle to the wider adoption of smart contract-based apps is the limitations in terms of management by light clients. Light clients are nodes on the blockchain network that do not keep a complete history of the blockchain. They simply track back to several of the most recent blocks in order to verify transactions.

In the past building, deploying and changing smart contracts meant you needed to run a full node of the network. So if you had a slow connection, low storage or used a mobile device, smart contracts simply weren’t available.

However, Qtum uses UTXO technology to facilitate simple payment verification (SPV). As a result, with just a few swipes of your mobile device, smart contracts can be executed.

This is another component which has helped drive growth since the launch and a capability that many competitors simply do not offer.

Key Details

Before you start thinking about technical analysis and whether you should buy or sell, you need to know a few key details, including:

Benefits

There are a number of factors pushing up Qtum’s cryptocurrency value and market capitalisation, including:

All these factors may lead to substantial growth in the near future, particularly in Asia.

Drawbacks

Before you decide Qtum cryptocurrency is definitely a good investment, there are certain drawbacks worth considering, including:

Resources

If you are thinking about day trading with Qtum, you will need to stay aware of upcoming news and absorb as much information as possible. To do that, you may want to consider using Qtum’s official website and FAQ page, Qtum Telegram, Qtum Github, Qtum Forum and Qtum Slack.

The resources above can you give you information on everything from fees and potential scalability to exchange tips and cryptocurrency profit calculators.

You may also want to consider using outside resources, such as Yahoo Finance and more general cryptocurrency news sources. These can keep you up to date with:

In addition, there are a number of free staking calculators available online. A quick calculation using network weight amongst other factors will give you accurate results.

How to Buy Qtum

Before you can start day trading with Qtum, you will need to purchase coins. Fortunately, in terms of where to buy this cryptocurrency, all the following exchanges are options:

Alternatively, you can buy BTC cryptocurrency on Coinbase and then trade BTC with the above exchanges for Qtum.

You will also need to store your Qtum cryptocurrency securely. You can now get hardware wallets, offline paper wallets or mobile, iPhone and Android wallets. All will keep your Qtum secure and accessible for when you want to trade.

What’s Next for Qtum?

A Qtum future price prediction for 2024 looks promising. They have secured partnership deals with Starbucks already. Qtum and China’s 360 financial partnership to build a blockchain research lab is also close to fruition.

In addition, they are in the process of securing agreements with a number of other important companies. If they succeed in doing so, they may emerge as a central hub for blockchain and cryptocurrency development going forward.

Having said that, until it has won the backing of these major companies, expected price forecasts and long-term outlooks will be nothing more than predictions.

For further guidance on how to join the crypto rich list and other coin reviews, see our cryptocurrency page.