Is Qatrade a scam? https://qatrade.com/
good day strange things start happening on there site, cant email anybody anymore, dont phone me back. and i deposit R20 000.00 in there account.. do i need to warry, are Qatrade a scam…? pls Help.
According to the broker’s website, QaTrade is a trade name of Ikonen Gold (Pty) Ltd, a juristic representative of Unum Capital (Pty) Ltd, an authorised financial services provider, licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa , with FSP. No. 564.
We have found that Ikonen Gold (Pty) Ltd and Unum Capital (Pty) Ltd are indeed registered and authorised by the Financial Sector Conduct Authority (FSCA) in South Africa, however, there is still a possibility that QaTrade simply uses the regulatory details of another company, deluding potential investors. This kind of brokers are often called clone firms.
So in order to protect yourself, we would advise you request a withdrawal to see if they are going to provide it to you. If they do not release your funds, you can report to your local regulatory authority, in your case it’s FSCA in South Africa.