Beware! Quantrix Capital is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
By far the best part of Quantrix Capital is its website, which is well designed and structured in a familiar way. These are our first impressions, and they can go a long way, especially for novice traders. The truth behind this company is much more sinister. Read on to find out more.
The registration process was one to judge the entire broker by. The way we do so is to see how simple it is for a client to create an account- the simpler it is the bigger the chance that we are dealing with an unregulated broker. It’s a very simple yet effective system. And it worked perfectly with this broker.
We entered a user area, and the first thing we saw was a web trader, which acts as the main hub area.
The EUR/USD spread was at 9 pips, which is ridiculous, and in no way lucrative or even the least favorable to users. Considering that the average spread is about 1.5 pips, one can see how wrong things are here. The available trading instruments are forex currency pair, commodities, indexes, stocks, and cryptocurrencies. We were no able to locate a leverage or margin requirement anywhere on the website.
The website of the compnay is accessible in English only.
QUANTRIX CAPITAL REGULATION AND SAFETY OF FUNDS
The main thing proclaimed by Quantrix Capital is that it is located in the United Kingdom, yet there is no proof of this being the case. The local FCA does not regulate the broker, and therefore even if the company was somehow able to locate itself i the UK, it won’t be long till the authorities shut its operations down.
There is no other information that concerns us here. The broker seems to think that a fake UK address is enough to fool users, and maybe it’s right, but we are not the typical novice investor.
The legal documents are very unhelpful, which in and of itself is a huge indicator that the broker has not done even a chunk of its job right.
We have no other choice but to conclude that Quantrix Capital is unlicensed, and a risk to all deposits. Users’ personal details will also be at risk if shared with Quantrix Capital.
It’s easy to check for a license. Just visit the regulator that supports the brokers, or the one that is allegedly licensing the broker, and check its online registered for the name of the company. All Any UK, EU, US, or Aussie-regulated are superb in their own right, although many different, and the user should go first see which one serves her/his needs best. This is the main responsibility of the user. Everything else is covered by the overseer. They abide by legislation, and in turn, all regulated brokers are tightly scrutinized and regularly checked. All such entities follow strict operational guidelines that put the user and her safety as a top priority. It’s also good to know that the UK and CySEC offer client compensation funds that reimburse users of FCA/CySEC-regulated brokers that have gone into insolvency for one reason or another. The FCA guarantees up to £85 000, while CySEC guarantees up to €20 000 per person.
QUANTRIX CAPITAL TRADING SOFTWARE
What we have here is a very typical unregulated brokerage web trader, perhaps the archetype of such terminals. Its main purpose is to be present and lure in novice users.
Other than a very bare minimum of features, this web trader offers close to nothing. The issue here is that it relies too much on visuals, and not even slightly on bringing decent trading options.
We also cannot ignore the third party charts that the broker uses, and we have to ask the question of whether these represent the broker’s own trading conditions, or if Quantrix Capital borrows from the third part charts all of its assets pricings? If the latter is the case, then none of these trading conditions would be applicable.
QUANTRIX CAPITAL DEPOSIT/WITHDRAW METHODS AND FEES
From the user area we read that the minimum deposit requirement is $250. the broker presented a bunch of crypto wallets as payment methods and a bank trasnfer. Note that some of the payment methods were completely broken, leaving users with a handful of crypto wallets that are incredibly risky to deal with. The withdrawal area reveals that the minimum withdrawal is $100.
And that’s pretty much all the payment information we have for you today. The website has no details on payments, which tells us how much Quantrix Capital really cares for its users.
The only conclusion we can draw here is that the broker is a risk to all investments and should not be trusted!
HOW DOES THE SCAM WORK
It still, and always will boggle us how investment scams can be so effective considering how easy they are to dissect and explain.
The crucial moment with any investment scam is the online ads that have been fashioned by the fraudsters. Ads that promise ridiculous luxury items and services are right about it. The more ludicrous it sounds and looks, the bigger the lie.
Of course, there are other ways to stumble on these sources, but ads seem to be the most effective way.
These ads lead to investment websites that seem good at first but are actually just illusions. Their main goal is to attract the user and manipulate him into investing. It’s not too difficult a thing to do- usually, this happens over the phone with a rep of the broker and the user talking for some time, with the rep finally convincing the client to invest an initial sum.
The first investment is the gateway to the scam. Once the first payment has gone through, the user is trapped, because now he or she must look over the investment. Now moves in the expert scammer, those that will leech from you as much money as they can possibly take. Until the user has been alarmed and is aware of the scam.
When this happens, it’s usually too late. The user won’t be able to withdraw or will have a very difficult time doing so.
WHAT TO DO IF SCAMMED
A credit card or debit card chargeback is the safest move. MasterCard and VISA have a chargeback period of 540 days.
Bank transfer funds are harder to recuperate, although not impossible. First, the user should change his bank account user name and password, and then directly contact his bank in order o find a solution together to the stolen funds problem.
All crypto deposits are lost, and the only way to see them back is if the scammers are suddenly hit by a wave of redemption, and pay the client back. This rarely, if ever, happens.
Finally, please do not trust recovery agents or agencies, who are complete scammers in their own right and will take more money from you. They claim to offer ways of retrieving the lost money but will ask for a service fee before conducting this seemingly impossible venture. After a while, the user will realize that the money paid to these has also been lost.