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Introduction to Qteck Review:
Careful! There might be a scam broker just around the corner waiting for you.
Qteck claims to be a decent brokerage firm with many customers from all corners of the world. Other than bragging about all the customers they have, Qteck also carefully tried to hide a lot of red flags in between their actions. In this review, we will investigate whether Qteck is a scam or a legitimate brokerage firm. If you are here with the intention of knowing the answer to this question, read on till the end of Qteck review to know the full story.
In this section, we will be explaining all the red flags that Qteck possesses.
Is Qteck regulated by any of the regulators?
Upon searching their website for any kind of regulation, we found out that Qteck claims to be run by another company by the name of Global Software Solutions. Qteck further claims that the parent company is regulated and therefore Qteck is also regulated. However, after a little search into the parent company and we realized that Global Software Solutions is actually based in Saint Vincent and the Grenadines. The location of the company is in an offshore zone makes it clear that both Qteck and the parent company are UNREGULATED. One must never trade with a brokerage firm that is unregulated as it increases the risk of your hard-earned money getting stolen. This is us one step closer to the Qteck scam in this Qteck review.
What is the leverage provided by Qteck?
The leverage offered by the brokerage firms plays a direct role in inducing risk towards the trade the customer is doing. Qteck offers leverage of 1:400 to their customers. Such huge leverage is a clear red flag against the qteck.io scam in this review. One must never trade or even sign up with a brokerage firm that offers such huge leverage.
Has Qteck been blacklisted by any regulations?
Upon checking the regulatory status of Qteck, we also came to know that Qteck has actually been blacklisted by the Swedish Financial Supervisory Authority. In the warning, the regulation states that Qteck is a potential scam and is unregulated.
Does Qteck provide a free demo account?
A demo account is another important parameter that is very useful to traders. Apart from the new users gaining experience in the world of trading, the demos accounts can also help the traders to know the working of the brokerage firm. Qteck does not provide a free demo account and thereby, raising yet another red flag against Qteck.
Conclusion: Is Qteck a scam or legit?
To sum up, all that has been stated above, we can say that Qteck is a potential scam. We recommend our readers stay away from this unregulated brokerage firm. If you have been scammed by Qteck, please file a report with us and we will help you by providing solutions to get your money back.
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