XQ Traders LLC is a company based out of Florida and is offering illegal or unregistered securities. The company is running its business from the website XQTraders.com and claiming to offer ROI as high as 24% monthly. They claim that XQTraders is using AI to power its trading activities. They’re allegedly trading Crypto and Forex.
Unfortunately, XQTraders is a high-risk investment website because they are not regulated in the first place. Secondly, the owners of this company are anonymous. We had to dig deeper into the internet to find out that the entity is operated by two people named Kevin Russ and Nicholas Spurlock — both are living in Florida. Because of the risky nature of XQTraders.com website, we ask you to avoid signing up or sending any money to them. Real trading starts with a professional broker’s platform. You can also invest in professional trading tools such as strategy, signals or even education. All of these can be found here.
XQTraders Review: Why this platform is an investment scam
Whereas the minimum deposit is only $10, these scams have a way of persuading victims to give them more money.
They can achieve this by engaging victims in phone calls that promise them more financial freedom if they deposit more money.
XQTraders claims that they offer guaranteed income. No losses are mentioned yet in any trading scenario, there are profits and losses. What matters is consistency.
Furthermore, XQTraders is claiming that their company does not charge trading or withdrawal fees.
The question is, how does the company make revenue if they don’t charge any fees? This is too good to be true. Any legitimate asset management company must charge management or performance fees because this is the incentive they get if they trade and make a profit for you.
It appears that these crooks think consumers are not intelligent. The truth is that XQTraders is benefiting from your deposit. They steal it and that’s it.
They also talk of “low-risk investment techniques” but not disclosing what those investment techniques look like.
Most of the time, serious investors want to know how their funds will be handled by the company.
This phony trading company ignores your right to information because they’re a petty scam.
XQTraders illegal securities
Since they are not regulated by the NFA or the CFTC, they are committing investment fraud. They should ideally not be targeting investors in the United States.
But as you can see, the scammers are either ignorant or defiant. They’re targeting victims globally.
If you “invest” with these crooks, you’re surely going to lose your money.
If you ever get any “profit”, it will be income generated from other investors’ money.
What to do if you have been scammed by XQ Traders
We know that there are many scams on the internet, which is why we’ve prepared a form for you to fill out in case you’re a victim of this fraud or any other on the internet.
If you’ve lost $5000 or more, you can also use the live chat to connect with a professional who will review your case and if you qualify for a chargeback, they will help you get your lost funds back regardless of the nature of the scam.
Unlike a sophisticated scam like Dacxi Coin, this one is easy to spot and avoid. Their website is not complex and the product they purport to offer is straight forward.
You’re required to know that managing funds on your behalf is a service that needs a licence from the US financial regulators.
Otherwise the company is committing securities fraud because they solicit funds from members of the public claiming to offer them a ROI in return.
Now that you know, avoid them like the plague as the risk of losing your money is 100%. If you want to trade and not lose your money, find a good broker and start with these recommended trading resources.