QuantConnect Review: All You Should Know About Quantconnect.com

Quantconnect Review

A community of over 220,000 quants has access to financial data, cloud computing, and a coding environment thanks to QuantConnect, an open-source algorithmic trading platform. The platform requires coding to work, so it’s not suitable for those with limited knowledge. 

However, the real question is whether or not this platform is a reliable choice and our QuantConnect review is here to find that out. Additionally, if you have spare time, make sure to check our GMA Pros review to know who to avoid. 

Who Is QuantConnect?

QuantConnect offers resources and tools for algorithmic trading and quantitative finance. It enables the creation, testing, and implementation of algorithmic trading methods. The platform offers access to financial data, backtesting capabilities, and connectivity with different brokerage APIs. 

It supports several programming languages, including C#, QuantConnectpython, and F#. Because of its strong infrastructure and community support, QuantConnect is well-liked among quantitative traders and algorithmic trading enthusiasts. This platform enables users to design and test trading algorithms utilizing both historical and real-time data. 

Company Type Trading tool
Legal name QuantConnect
Regulation Not expected
Registered in Miami, Florida 33326, US
Established 2023
Website www.quantconnect.com
Financial Authorities Warnings
  • No official warnings
  • $8/month
  • $20/month
  • $40/month
  • $80/month
  • $34 live trading node
  • Backtesting Compute $10
  • Research Compute $10
  • Live trading hosts $20
If Active on Social Media: No
Investor Protection: No
Activity areas United States; India; United Kingdom; Canada; Germany
Main threats Not suitable for beginners, Coding is required
Main perks Large community, Live trading

QuantConnect Profile

Terabytes of free financial data are available via QuantConnect to users, which can be utilized for precise backtesting of trading methods. Furthermore, little to no code modification is required to run these tests. Users have the option of trading a variety of assets, including equities, FX, futures, CFDs, and cryptocurrencies.

Over the past ten or so years, the platform has housed more than 250,000 live strategies, has several broker connections, and processes more than $1 billion in notional volume each month. Executing transactions directly through one of the several connectors is simple. 

LEAN is an open-source algorithmic trading engine that powers QuantConnect. It was designed by more than 150 engineers to provide traders access to a cutting-edge and blazing-fast platform that would enable them to compete with the resources used by the world’s top financial institutions.

Trading Platform QuantConnect
Financial Instruments On Offer
  • Cryptocurrencies (BTC, ETH, XRP)
  • Indices (S&P 500 Index, Dow Jones Industrial Average, FTSE 100 Index)
  • Commodities (Crude Oil, Natural Gas, Corn)
  • Futures (E-mini S&P 500 Futures, Crude Oil Futures, Gold Futures)
  • Equities (Apple, Amazon, Coca-Cola)
Maximum leverage N/A
Minimum Deposit $8/month
Commissions/Bonuses N/A
Mobile app No
Desktop app No
Autotrading No
Demo account Free Plan
Education or Extra tools Learning Center

Is QuantConnect Safe To Trade With?

All things considered, the platform is a safe choice, however, not the best one. Despite some QuantConnect Reddit posts where traders share their experience while using this platform, we still believe there are better alternatives. 

Regarding QuantConnect pricing, there are various reports of hidden fees and costs and the fact you have to pay to get customer support is ridiculous. Many features are not available with the free plan so the trial is not the best way to test out their services. 

Additionally, the platform is not that suitable for beginners or people with limited knowledge due to its complexity, so if you are someone who is just starting, we recommend choosing better alternatives than this platform. 

Traders Share Their Experiences

On Trustpilot, Quant Connect has 24 reviews and more than 40% are unfavorable. Many traders complain about slow backtesting and a very complex API with bad documentation. The most bizarre thing that caught our eye is that if you require customer support, you have to pay to get help. 

The platform has been recognized for deleting crucial information and statements in forums and charging for complex things it shouldn’t charge for. Instead of providing help for free like they should, they charge ridiculous fees and you have no idea until it’s time to pay. 

We are not satisfied with this platform and neither are several traders. There are better alternatives that don’t charge for helping you and have a fast and stable system you can use to boost your chances of profits. 

Should You Avoid or Enjoy This Company?

Even though the subscription for one of the plans starts as low as $8, once you want to buy the plan, you will realize there is more than meets the eye. The platform will charge you for additional features that you don’t have to buy, however without them, it can be difficult to manage. 

For the cheapest plan, you have to pay $600 in total and it will last one year, which seems like an excessive amount of money. Additionally, other fees are not even mentioned, indicating the platform lacks transparency. 

After everything we know today, we believe that choosing another, more reliable, and suitable platform is the best decision. It seems like the features this platform offers are not worth paying so much money when you can find better platforms offering their features for much less. 

Deposits and Withdrawal Methods

The QuantConnect platform doesn’t offer direct deposits instead, they use the CashBook. The CashBook is a dictionary where the values are Cash objects and the keys are currency tickers. The amount of each currency in the portfolio is tracked by the Cash objects. LEAN credits and debits the Cash objects to represent your cash balances while you buy and sell assets.

Use your brokerage account to add and withdraw money during live trading. The cash balance in your algorithm will not match the cash balance in your brokerage account if you make changes to the cash balances in your algorithm using the AddAmount method.

Just a little tip, make sure to avoid brokers like CedarFX, who only offer anonymous payment methods. Those methods are untraceable and it will be harder to regain access to your funds. 

Weighing the Pros and Cons

Pros Cons
  1. Variety of instruments
  2. Free plan
  3. Great backtesting and research capability
  4. Support for both .NET and Python
  5. Decent training material, open source framework, and decent community
  1. Unsatisfied clients
  2. Not suitable for beginners
  3. Badly organized documentation
  4. Coding is required
  5. Traders need to learn too much stuff
  6. New in the market

Can I Make Money While Trading Online?

Making money while trading is not easy and comes with a lot of risk. Earning profits is possible but it’s not a guaranteed path. That’s why it’s always recommended to invest the amount you are prepared to lose. However, without the right knowledge, strategy, and right tools, profiting can be almost impossible. 

That is why we decided to help traders better navigate the trading business by introducing our AI Analysis Bot. This potent program will gather information from charts like previous asset prices and other data to make insightful recommendations. It uses technical analysis to forecast future price movements, offering insight on whether to buy or sell. 

We guarantee that you will love this AI-powered tool as much as we do, so we offer a 14-day free trial to the first 100 traders to reach out. Even if you are not within the first 100, there is still a money-back guarantee option that awaits you if you don’t like our platform. Act quickly and step into the future of trading with AI.F! 

FAQ Section

What Is QuantConnect?

QuantConnect is a platform that offers resources and tools for algorithmic trading and quantitative finance. It enables the creation, testing, and implementation of algorithmic trading methods.

Is QuantConnect Legit?

Yes, the company is a legitimate business, however, it’s important to note that there are better alternatives, especially if you are a beginner.

How Does QuantConnect Work?

The open-source LEAN, an algorithmic trading engine, powers QuantConnect and enables traders to compete with the resources offered by the world's leading financial institutions.

Turn Your Trading Skills
Into Capital!
Unlock funded trading accounts now
your Success, our Investment!
Content navigation