QTeck Review 2024: Scammer or Secure? Uncovering Qteck.io
The trading business is risky by its nature and if we add scam companies on top, it becomes even riskier. Getting into trading blindly will never bring you even closer to profits, which is why research is crucial. Most scammers are brokers, that only have one goal; to take your money away.
That brings us to our QTeck review, which is about an offshore scam brokerage that is luckily no longer operational. Many fraudulent operations hide behind the name and we uncover them all and present you with facts so you can make well-informed decisions. Additionally, check out Immediate Wealth for a scam affiliate campaign.
Among those who disappeared when authorities launched investigations was the QTeck broker. This is not the only case, and unfortunately, the more the broker vanishes, the harder it is to get your money back. Given that scams frequently resurface, we’ve written this QTeck review to teach you how to spot and steer clear of them.
As soon as we visited the website, we were warned by Google immediately that the site wasn’t secure. According to ScamAdviser, the website has been marked as a scam and is sanctioned and blacklisted. Not a very good start to earn someone’s trust if you ask us.
Additionally, there is nothing we know about the firm’s owner or anything beneficial that could lead us closer to the truth. The broker is completely anonymous online and depositing your funds would be a huge mistake.
|Financial Authorities Warnings
|If a withdrawal is possible
|If Active on Social Media:
|Germany, Brazil, Denmark, Sweden, France;
Global Software Solutions, a company registered in Saint Vincent and the Grenadines, is the owner of the QTeck Forex brand. Because there is no regulatory oversight, offshore brokers frequently select this location.
Furthermore, this company claimed to have another location in the United Kingdom operating as QTP Solutions Ltd. We discovered such a company; it is presently in liquidation but is listed as a health-related enterprise.
Rather than falling under FCA regulation, the regulator released a warning. Unfortunately, FCA is not the only one who alerted its investors. The Central Bank of Ireland, where the domain is registered also supported a warning.
Further on, IOSCO and the CNMV supported the Central Bank of Ireland and warned its investors about this fraudulent brokerage. The firm vanished after several warnings and many have been left without their funds thanks to the QTeck scam.
Instead of providing any real features, the trading platform was a suspicious web trader that seemed too difficult for anyone to use. Available assets included some currency pairs, commodities like gold and silver, indices like NASDAQ, shares, and cryptocurrencies.
The broker is no longer operational, so leverage information, spreads, and other trading conditions are not available. The minimum deposit of $250 was required to open an account but the account types are unknown.
Brokers like this don’t offer anything; they are an online illusion pretending to be a broker. Instead of providing a safe environment, they will disappear as soon as you deposit your funds. Be careful about the companies you choose to work with.
Despite the firm’s best efforts to fabricate the truth and present itself as a well-reviewed company, QTeck has over 130 reviews and an overall score of 1.3 on Trustpilot. 80% of the comments are 1-star reviews, so let’s delve into them.
Almost all comments focus on withdrawal issues and spam phone calls. The broker called traders over 40 times a day, offering fake features and high returns with risk-free trading, after you deposit your funds, the scammer disappears and blocks your account.
Some traders lost all of their life savings with this brokerage company. One even lost over $70,000! Trusting this broker with your investments would be a huge mistake, so make sure to steer clear of them.
Payment Options and Process
Depositing your funds with brokers like this will never bring you even a step closer to profits. Instead, you will probably lose the money you moved aside to start trading and you will be right back at the start. Do research and an in-depth investigation of any broker you plan on using.
The QTeck withdrawal process is not disclosed, nor are the fees that go with it. We’ve already established the broker lacks transparency, so this wasn’t at all surprising. According to several traders if not all of them, this broker probably never paid one single withdrawal.
How Is the Scam Carried Out?
The broker could be paying someone like Immediate Revolution or similar affiliate companies to advertise their services. After your details get sold to the broker, you will receive many phone calls if not even hundreds of them, including emails and texts about this broker’s services.
After you comply and deposit your funds whatever the initial may be, it will seem like it’s a good broker at the start, before his true face comes out. After you make profits and request a withdrawal, they will sell stories of additional charges to make you deposit more to be able to withdraw.
Weighing the Pros and Cons
Can I Make Money While Trading Online?
In summary, QTeck is, without a doubt a scam. Luckily for traders, the broker is no longer operational, however, the threat still exists. This is why it’s crucial not to trust the first get-rich phone call and instead, dedicate the time to learn about scams and how to recognize them.
But what if we tell you the time of relying on agents like this one is over? With the help of AI.F, a potent AI-powered tool that can process billions of data points at a fast speed, you will elevate your trading skills and boost your profit chances in no time.
Additionally, the bot will provide insightful recommendations while you stay the decision-maker and ahead of everything, including time. Reach out now and book yourself a ticket to a profitable trading journey!
What is QTeck?
Operating in Germany, Brazil, Denmark, Sweden, and France, QTeck is an unregulated brokerage firm that has been the subject of multiple regulatory warnings.
Is QTeck a Legit Broker?
No, QTeck is an unregulated offshore broker flagged by multiple financial authorities and has a track record of withdrawal issues, spam calls, and scam allegations.
Can I Withdraw My Money From QTeck Platform?
Reviews and reports state that traders experienced trouble withdrawing money from QTeck and numerous people have complained about not getting withdrawals, which is a sign of fraud.