Qtrade Review | Forex Broker Spoofs a Legit Stock Trader | Scam?

Qtrade Limited: The Company offers lots of reward cycles and bonuses for investors, attempting to spur recruitment into its Affiliate programs.

How does this hold up in the media spotlight? Well, for one, the execs rely on social media, where most people typically sign up for short cycle ROIs until the operators do a runner. The catchy clip below (from the PR videos online) illustrates this point.

Apparently, top-tier members get higher takeaway packages than the average affiliate. The bonus weighting works for members that:

  1. Attract many referrals with large trade volumes,
  2. Maintain a downline threshold, and
  3. Stay on the referral lattice.

What is the deal for members, though?

The thing is that you get to trade forex and some parallel markets through Qtrade as a byline. It might as well be the case since the PRs advertise over one hundred and twenty instruments in these categories:

Prospective affiliates can deposit in any one of the subscription slots on the platform, viz. $100, $5000, and $10000.

Before you think about depositing your money

It is advisable to know the business sketch of the company you wish to Invest in before throwing in your money. So, we start off with an overview of who’s behind Qtrade.

Also, is the company regulated?

How can you trust that the pay model isn’t based on a Ponzi template?

See the answers in this article.

Note:

Qtrade is the name of the stock, ETF, and Options Brokerage Company in Vancouver. The iteration under review here (Qtrade Limited) merely spoofs the Canadian company.

Find out more about the platform in this piece.

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Who Are the Qtrade Execs?

It is mostly run as a one-man front business, with Jad Natour featuring in all the publicity vids.

Nothing is known about the man except for the title of Financial Analyst appended to his LinkedIn profile. He doesn’t seem to have any previous roadmaps brokering forex.

Also, Jad Natour might’ve had some PR tours in Jordan and perhaps some one-off stints in Dubai, inferring from his choice of tags.

Of his company, nothing outside Jad Natour’s vids provides a clue about the business afoot. Even the advertised St Vincent and the Grenadines incorporation doesn’t provide legal props of any sort. (We will get to this point later)

Yet, for all the forex pro ads, Qtrade actually has a much better thriving MLM loyalty grid. So, that shows the crux of the whole referral thingy.

See the Affiliate Compensation Plan in the following section.

Compensation Program: Unilevel Bonus Grids and Others

As we mentioned earlier, affiliates booting referral cycles and maintaining a downline threshold earn them ROIs and bonuses from Unilevel grids.

The Qualifying downline threshold is equivalent to Margin Range Volume, which determines the percentage returns from three (3) Unilevel bonus tiers. So, the amounts in dollars in this chart show Margin Range Volumes alongside the payable ROIs.

Three hundred and fifty percent (350%) on Level 1, one hundred and seventy-five percent (175%) on Level 2, and one hundred percent (100%) on Level 3 _ for $5000001

Two hundred and eighty percent (280%) on Level 1, one hundred and sixty-one percent (161%) on Level 2, and ninety-five percent (95%) on Level 3_ for $2500001-$5000000

Also, Two hundred and thirty percent (230%) on Level 1, one hundred and forty-seven percent (147%) on Level 2, and eighty-eight percent (88%) on Level 3 _ for $1050001-$2500000

One hundred and ninety percent (190%) on Level 1, one hundred and thirty-three percent (133%) on Level 2, and seventy-eight percent (78%) on Level 1 _ for $400001-$1050000

One hundred and sixty percent (160%) on Level 1, one hundred and fifteen percent (115%) on Level 2, and sixty-eight percent (68%) on Level 3 _ for $130001-$400000

Further, one hundred and forty percent (140%) on Level 1, ninety-eight percent (98%) on Level 2, and fifty-three percent (53%) on Level 3 _ $50001-$130000

One hundred and twenty percent (120%) on Level 1, seventy-seven percent (77%) on Level 2, and thirty-five percent (35%) on Level 3 _ for $15001-$50000

One hundred and ten percent (110%) on Level 1, fifty-six percent (56%) on Level 2, and twenty percent (20%) on Level 3 _ $5001-$15000

Moreover, one hundred percent (100%) on Level 1, thirty-five percent (35%) on Level 2, and ten percent (10%) on Level 3 _ for $5000

How It Works

An affiliate’s downline is akin to margin range volume, which is sourced from Qtrade, and valid for ninety trade days, with each day remitting $15. 

So, setting $15 to 100% ROI, the peak 230% ROI amounts to (15 x 230)/100. The result is 34.50 dollars.

Note:

An MLM unilevel lattice works in this way.

The affiliate’s personally recruited members fill the First Level. The First Level referrals boot the Second Level by recruiting people to invest in Qtrade. Subsequently, the recursive arrangement yields a typical MLM compensation grid.

Now, here is the bothersome part of the whole rig-up _ Regulation.

Is Qtrade Legit?

Apparently, the affiliate aspect attempts to incentivize people to join Qtrade, which isn’t an issue. Also, the bonuses seem to rely on actual trades performed on Qtrade, implying that a legit business happens on the backend.

However, St Vincent and the Grenadines don’t cut the image of an ideal location for reliable forex brokers. You can see the attached clip for reference.

Qtrade

The country requires the brokers operating out of its territories to follow due SEC diligence in the jurisdictions outside its purview. Qtrade doesn’t seem to follow this requisite. So, you have a broker with a very shaky foundation.

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