QTradeFX (Qtradefx.com) is another brutal CFDs, Crypto Currency and Forex broker stealing from unsuspecting investors. QTrade FX is deliberately misleading investors into believing this is a legit platform. Opening an account with these scam artists will lead to more misery than good. Already, members are crying foul after having their withdrawal requests being cancelled. Trouble is brewing with this broker. Read this eye-opening QTRADEFX Review and find out the truth.
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After some members decided to contact us, we had to investigate and get to the root of the matter. And what we uncovered is shocking to say the least. These scam artists are simply refusing to allow members to withdraw funds. And this is where we draw the line with these scam artists. Adding this broker to our scam list will aid in protecting our readers from signing up. These are professional scam artists with a cruel intent to steal from unsuspecting online investors.
Professional scam artists are known to create visually compelling websites to entice investors. And this is what QTradeFX is doing to openly steal from members of the public. By cloning a trader’s website, unsuspecting investors are led to believe this is a true brokerage firm. To add salt to injury, these scam artists will call you and demand you add more deposits. To find out some of the tricks used, ensure you go through this detailed review. Exposing these scam artists is our goal in order to protect the good Forex trading name.
QTrade Limited is the company behind this brokerage firm. What we immediately noticed with this company is lack of registration. After checking with a few company registrars, we found no company registered with this name. And this is one of the many red flags we spotted with this brokerage firm. Stay away from these scam artists who fail to have valid credentials. Anonymity is another red flag we spotted with these scam artists. Who exactly owns and operates this brokerage firm?
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QTradeFX is not mentioning any of the founding members on their website. What about the actual people running this website? These are scam artists who are trying to entice members to sign up and deposit funds. After depositing funds, this is the last you will hear from them. The so-called account managers go under with no reason and block your contact. These are professional scam artists who we must expose to protect unsuspecting investors. Anonymity is a dangerous partner to associate with. Stay away from Q Trade FX or else become their next victim.
Another shocking revelation is QTradeFX is not licensed or regulated by the regulatory bodies. To confirm our fears, we reached out to known regulatory bodies. They include ASIC, COSNOB, CySEC, FCA, FSA, and SEC. These are international regulatory bodies’ mandates to license brokers. A broker who is not licensed by these bodies is not worth your time. Looking at their website, there’s no information regarding licensing. What is their license or registration number?
Why have they failed to post any copies of their license or registration details? A good way to spot scam artists is checking whether they have valid documents. QTradeFX is a fake brokerage site with no valid trading certificates. Whoever signs up should know we are dealing with an unauthorized entity. Trying to recover funds from these scam artists remains a problem. Ensure you check whether a broker is recognized by the above bodies. QTradeFX is operating without a valid license.
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A huge problem with their demo account is producing fake results. We have determined QTradeFX is rigging their demo account to produce fake results. These scam artists have made sure their demo account makes over 98% successful trades. Remember a demo account uses virtual money which is not real. They have managed to manipulate results in order to entice members to sign up.
When it comes to depositing funds with this broker, this avenue is well covered. Investors are depositing using bank transfer, Neteller, PayPal, Skrill, Union Pay, and Visa. Depositing is fast and quick and takes less than five minutes. A huge problem remains withdrawing of funds. Members are having a hard time trying to withdraw their funds. Contacting the broker is futile as they don’t respond.
QTradeFX is claiming to have the ever promising MT4 trading platform. A problem with their platform is lack of proper security features making it highly unstable. These are potential risks members are facing as they are open to third party attacks. Hackers can easily ta safe take over this platform and steal personal information such as identity details. Your credit card details are not safe which means hackers can access your bank account details. Stay away from unstable platforms.
Another problem we noticed is with their accounts. QTradeFX is furnishing users with three different account types to choose from. These accounts are named Professional, Elite, and VIP. These account managers are good when they are asking for your first deposit. After depositing, expect to make losses. They will call again and ask for a bigger deposit so as to recover lost funds.
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How can funds be safe with an anonymous broker? Where do they bank deposits from members? These are sleazy scam artists with a mission to defraud investors. Thanks to our years of trading experience, we are exposing their dirty tricks.
Another unsettling issue is in regards to segregation of accounts. Q TradeFX is merging assets in one account which is extremely risky. Pooling of funds can lead to huge losses especially if the broker owes creditors. It is highly likely members are depositing funds straight to owner’s bank account. And this is why these scam artists have not segregated accounts. Stay away from such brokers or else become their next victim.
After checking all the facts, we can confirm QTradeFX is a scam. Stay away from this platform and warn your family and friends. Joining any of their affiliate programs is also a risk.
We will be adding this platform to our scam blacklist to protect our readers. Stay away from these scams.
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Wishing you a safe trading experience.
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