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QuiloxTrade Review: Quiloxtrade.com Forex Scam Shown

QuiloxTrade Review: Quiloxtrade.com Forex Scam Shown

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QuiloxTrade (Quiloxtrade.com) is another rude and unprofessional CFDs, Cryptocurrency, and Forex scam. Quilox Trade is professing to offer tailor made trading solutions regardless to prior trading experience or knowledge. The website itself looks funny and out of place to say the least. No professional platform can look this flat out boring and call itself a leading platform. Make sure to read this genuine and honest QUILOXTRADE Review for more details.

QuiloxTrade Review

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QuiloxTrade Review

The reason why we conducted this review is to protect newbie traders from falling into the trap set. A majority of victims sent us email asking us to conduct a review of this platform. The initial investigation revealed some major loopholes which makes the platform a risky venture. QuiloxTrade is purporting to offer trading services and in truth, they are scam artists. Most members have not been able to withdraw funds as their accounts have been frozen. And this is a mark for scam artists.

Professional scam artists will in most cases create a cloned website and deceit unsuspecting investors. Quiloxtrade is another scam as they have come up with a poorly designed website. At first glance, we couldn’t believe that this is a trading platform. The information on the website is wanting and the platform lacks vital features. Thanks to our years of trading experience, we know how to spot a scam from a mile away. Ensure you stay away from this platform and never associate with any of their affiliate programs.

About QuiloxTrade

About QuiloxTrade

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Not much detail has been disclosed by the website regarding the actual owners of this website. QuiloxTrade is not in any company register which means we are dealing with an anonymous website. Once you click on their contact us page, you will be directed to their homepage. No information is available on where Quilox Trade is actually located. And this is proof we are dealing with a ridiculous trading platform. What happened to websites being transparent of their actual location?

Anonymity is a huge problem that investors should be wary. Any anonymous online investment platform should be avoided as it becomes hard to recover stolen funds. QuiloxTrade is completely anonymous and poses a huge risk to anyone who deposits funds with them. Who are the founding members of this platform? Can we get to know the actual names of people who are running the website? We don’t expect scam artists to reveal their names and as such, already know QuiloxTrade is a scam.

Is QuiloxTrade licensed or registered?

The disclaimer at the footer of their homepage suggests that the platform is registered. We did a thorough research using BVI Financial Service Commission register for verification. And this is where it gets interesting as the same regulatory body has issued a warning against this platform. The regulator has issued a public statement which claims the platform is falsely claiming to be regulated. And this is where we draw the line as QuiloxTrade is obviously a scam pouncing on unsuspecting victims.

QuiloxTrade License and Registration Status/Warning

It could be the reason why they have not posted any copies of their trading license. A real trading platform will post their license number accompanied with copies of their registration certificates. By doing this, they show transparency and give investors a chance to verify the credentials. And this is why we must expose this scam as they are outright stealing from anyone who signs up. Make sure to never trust a word from any of their call agents. Stay away from the platform or risk becoming their next victim.

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Advantages of QuiloxTrade

We could not come up with any advantage of dealing with an anonymous and unregulated platform. The fact that they have been blacklisted by BVI FSC means we are dealing with proven scam artists. Victims have reached out to concerned bodies and appropriate action has been taken. The fact that a regulator has issued a warning is proof no advantage can come out of this platform. Just ensure you stay away from this platform and never give them your contact details.

Disadvantages of QuiloxTrade

Account types

QuiloxTrade is not furnishing users with any account types. And this is a huge problem as we don’t know the leverage and spreads available. A platform with no account types means users give control of their funds. And this is a problem as the platform has already stated they don’t offer automated trading. Lack of clear account types is proof the scam artists want to ask for different depository amounts. It is why no one knows the acceptable minimum deposit with this platform.

Contact and support

Another disturbing feature with QuiloxTrade is lack of proper details regarding contact details. After a thorough look at their FAQ page, we noticed an email has been listed as means of contact. No phone number is listed on the entire website which means we are dealing with a hoax. Recovering funds from anonymous platforms is next to impossible. And this is what the scam artists want, to remain completely anonymous.

Demo Account

QuiloxTrade is not issuing users with a demo account. Smart investors know that they have to try out a demo account before committing to a real account. A demo account gives users a chance to test how well a platform works. With a demo account, you get to know the spreads available and speed of execution. Without a demo account in play, members are signing up blindly. And this makes the scam artists laugh all the way to the bank. Once you deposit with them, it is the last you will see of your funds.

Payment Methods

QuiloxTrade Deposit and Withdrawal/ Payment Options

When it comes to depository channels, the platform has listed a number of depository channels. You can deposit using Bitcoin, PayPal, Perfect Money, and Western Union. For PayPal users, they can try and send a cancellation request if funds were sent before 24 hours. The problem with this platform still remains no user has been able to withdraw funds with the platform. Ensure you first find out whether a platform allows withdrawals. You can reach out to support and demand a visual confirmation or proof of withdrawal.

Are funds safe with QuiloxTrade?

Without account types in play, the platform is not segregating accounts. What this means is QuiloxTrade is pooling funds in one account which is against trading regulations. Members are depositing funds straight to owner’s personal account. The problems with this platform are endless, it is best you stay away from it.

Scam or legit

Evidence is clearly pointing to the fact that we are dealing with a scam. Stay away from this platform or risk losing your entire funds. Mark all their emails as spam and never click on any links sent by their email marketing team.

Verdict

We will be adding this platform to our scam blacklist to ensure our readers are made aware.

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Wishing all investors a lucrative and safe trading experience.

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