Whenever we see a broker from Saint Vincent and the Grenadines, it just gives us a bad feeling. This is a reminder of Tredexo, Dominion Markets, and similar bogus operations.
Read our Qteck review and find out why you shouldn’t trust companies from offshore zones.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||FCA, FSMA|
|Owned by:||Global Software Solutions|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Platforms:||Web trader|
|Cryptocurrencies:||Yes – BTTC, ETH, XRP|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
Qteck Regulations and Security
Allegedly, Qteck is a brand owned by Global Software Solutions from Saint Vincent and the Grenadines. Yet, since the company doesn’t exist in the FSA register, we cannot confirm if it is real. Besides, we searched for Qteck regulations among Tier1 regulators such as FCA and ASIC and found nothing.
Beware of the Qteck scam and always search for a regulated brokerage.
Qteck Warnings From Financial Regulators
Last year, the UK FCA issued an official warning against Qteck broker, stating it’s a fraudulent operation and anyone who had been scammed could not get reimbursed.
A bit later, the same warning showed up on the Belgium FSMA website.
Now that you have an official confirmation that Qteck is yet another offshore Forex trading scam, you should avoid it at all costs.
Fund Withdrawal Issues
Dealing with online brokers is always a risk. Especially if these brokers, like Qteck, have no regulations. Without someone to oversee their activities, brokers feel powerful enough to extort money and not allow withdrawals.
Clients of Qteck broker reported many issues. Starting with the support department that claims their account is not fully verified to account managers selling new trading opportunities. If you wish to invest your money, support will be more than happy to assist. If you want to withdraw it, you will be all alone until your account is suspended.
According to Qteck reviews, none of the clients have a good thing to say. All they talk about is withdrawal issues, a web trader with tons of lags, and a too high minimum deposit of $250. Of course, not to mention the concern regarding the broker’s non-existing regulation.
When looking for a brokerage, make sure to check reviews and regulatory warnings before giving your money away. If you have any suspicions of fraud, let us know immediately.
How Does Online Trading Scam Work?
Online trading scams became popular ever since there’s a vast number of brokerages. While there were few, it was easy to control them. Nowadays, opening an offshore company is extremely easy, and creating a fake website is even easier.
Once you sign up for a false ad, you’ll be approached for funds. And once you invest, the whole circus will start. It will never be enough, and you will always need more money. Yet, it looks like money back is something not allowed.
Scammed by Qteck?
If you fall victim to the Qteck scam, let us know immediately. Our experts will help you start the chargeback procedure!
But what is a chargeback?
It’s a method of retrieving your funds in case you are scammed online. Contact our support via online chat and start the process before it’s too late! If a fraudulent broker stole your money, it’s time to fight back!
What is Qteck?
Qteck is an online trading brokerage without a license based offshore.
Is Qteck a scam?
Qteck has been blacklisted by the UK FCA and Belgium’s FSMA for conducting scams.
Is Qteck regulated?
Qteck is not regulated and not a legit online trading brokerage. Beware!