QxBroker Review – What Makes Binary Options So Risky?

QxBroker is an offshore institution registered in St. Vincent and Grenadines. That doesn’t raise much hope already. On top of that, there is an alternative address in St. Lucia. You don’t know which is worse. Anyway, the ownership belongs to Maxbit LLC.

If you don’t already know how binary options work, you are at the right place. Keep reading this QxBroker review to learn how to protect yourself from these swindlers.

Legal Info: Is QxBroker Legit Or A Scam?

Keep in mind that binary options are banned in Europe for a couple of years, and not without a reason. Nevertheless, an adequate license is required to provide any investment services. But QxBroker doesn’t have any. Especially not the ones everyone trusts, such as FCA, BaFin or ASIC.

Instead, there are warnings against this company from Portuguese CMVM. Therefore, you can forget about their false promises about trading signals or anything else. But especially about protection and safety.  

Who Are QxBroker’s Clients?

The presentation on the qxbroker.com website shows that the broker was registered in 2019. Yet, who.is domain research register claims otherwise – 2021. Considering the regulatory issues, this must be another bogus lie.

Anyway, the company is mainly scamming traders from: 

• Brazil
• India
• Bangladesh
• Pakistan
• Venezuela

Feel free to share your experience in the comment section below. But also to contact us if you need chargeback advice.

Traders Experience

Even though this company has positive reviews on Trustpilot, don’t let that trick you. In the end, they could be paid. Surprisingly, 90% out of 70 comments are positive. But you can deny that if you share your experience below about this broker. Or contact us directly for refund assistance.

Investment Costs With QxBroker

Another warning sign is that the company doesn’t reveal any trading costs, neither is leveraged trading available. 

Practically, the broker is earning money from your gambling. The more you deposit, the more they are earning. But don’t let transparent fees trick you and to find out why, read this AlfaCapital24 review.

Bonuses

In fact, yes welcome bonus of up to 30% is available. Once you register and complete the qxbroker.com login procedure you can claim that bonus. Thus, be careful. Of course, there is a catch. Once you accept any bonus you have a minimum turnover requirement. Otherwise, you can’t get any money out.

QxBroker Trading Features

All the trading features with QxBroker are completely fictive. Firstly, they are not offering any third-party software. Secondly, they are offering highly risky binary options. Practically like a roulette. So, everything you see about this company is imaginary.

Is QxBroker Legit?

Not at all. Otherwise, the broker wouldn’t have warnings from trusted regulators. But it seems like they don’t care. They continue building their network. But to learn how to prevent yourself from falling into these traps, read our comprehensive Binatex review.

Available Trading Assets

QxBroker offers only 4 major categories. Of course, all in the form of digital assets. Those are:

• Forex – USD/EUR, GBP/NOK
• Commodities – platinum, silver
• Indices – FTSE100,
• Shares – Amazon, Microsoft

Account Types

Important to realize is that this company doesn’t have an account type classification. Practically, everyone gets the same shady conditions and minimum deposit requirement of $10. But to avoid any nightmares you should opt for a licensed broker.

Mobile Trading App

Indeed, the QxBroker mobile app is available, but only for Android users. On the positive side, it has more than 1M downloads on PlayStore. But a quite low rating. As mentioned before, it’s a proprietary app and easily manipulated by the company.

Demo Account

A demo account is available with the QxBroker scam. But don’t let that trick you. They can easily control the date to make it look like you are making money. Consequently, you start depositing and you fall in their trap.  

QxBroker Withdrawal

Of course, withdrawals are the most important topic. Primarily because that defines if QxBroker is legit. But they are not. 

With malicious bonus policies and missing regulations, withdrawals are practically impossible. But of course, they can come up with other excuses. Like verification, taxes or fees.

Customer Support

Important to realize is that the company doesn’t offer any contact options. Yet, they expect you to trust them with your money.

Instead, you just have guidance on how to open a contact form and send them a request. But if they will respond, it depends on your demand.

Key Information To Consider About QxBroker?

The company has all the warning signs possible. Non-regulated and non-transparent brokerage without any credibility. Not something that experienced traders are looking for. Also, they are offering services in countries with weaker regulations. But in Europe, they wouldn’t be able to.

Anyway, wherever you are from, transactions are performed in the same way. But also chargebacks and alternative refund options. If you think that this company scammed you, contact our refund team for consultation. Book your first free meeting now!

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