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QOINTECH -

Score

1.29 /10
Danger

QOINTECH

Japan

Scam Brokers

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://www.qointech.co

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Comparison

Quantity 21

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index5.32

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Time Machine
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

Qoin Services Ltd

Company Abbreviation

QOINTECH

Platform registered country and region

Japan

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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This platform is a Ponzi Scheme. Please stay away! 4
Previous Detection : 2024-12-23
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

WikiFX Verification

Exposure

21 pieces of exposure in total
Pyramid scheme complaint
Expose
Scam

Pretend to be Pepperstone

MT5 Provider Show Qoin Services Let The website link does not match Pepperstone pepperstoneOOOO has a few more codes. The frequent connection shows that it is not secure.

2023-12-11 21:42
Scam

Unreasonable slippage, no withdrawals allowed, pretending to be other providers

The account given is often a problem account. (Figure 1) Unreasonable slippage. (Figure 2) Disguised Pepperstone. (Figure 3) It takes many reasons to withdraw money. A recent withdrawal shows an accounting error. (Figure 4) Attached is a certain deposit

2024-01-02 19:39
Unable to Withdraw

Fraud

They didn't allow me to withdraw the money, but a few days later they wrote me a letter saying they would resolve the withdrawal issue and get in touch with all customers. I don't know what happened, but I just want my money back. Yoshiki Asai was my broker, he is a big scammer. For more information about this scam, please see the photo I uploaded.

2023-10-26 18:27
Unable to Withdraw

It is a scam platform. If you want to withdraw money, you must first pay the profit share. After paying, you still cannot withdraw money. Romance Scam.

My friend found Yongzhan Investment Consulting, and then someone took her to place an order on the QOINTECH black platform, and her position was liquidated twice. Finally, she made more than 300,000 US dollars on her account. Then the withdrawal failed, and the scammer asked her to pay a share of the profit first. Can. Then she paid 25,000 US dollars, but still couldn't withdraw the money, and then she realized that she had been cheated.

2023-12-08 11:18
Scam

LAU Yuen-ching, LAU Kin-shu, CHAN Sai-wah and Emmy Yuen-ting, his assistant, were involved in the fraud.

112 years of trading forex CFDs. Lau Yuen Ching. LAU Yuen Ching, LI Kin Shue and CHAN Sai Wah's assistants are all Emmy Yuen Ting, who trading the CFDs and could not withdraw the funds. Fraud.

2024-04-01 17:19
Unable to Withdraw

Scam, expose them.

I created an account in Qointech and deposited $60,000 to trade. Then they said I had to raise money before I could trade. When I asked to withdraw money, I couldn't withdraw it. After a few days, I could no longer log in or contact platform customer service.

2024-03-19 13:49
Unable to Withdraw

Fraud Alert

They didn't allow me to withdraw the money, but a few days later they wrote me a letter saying they would resolve the withdrawal issue and get in touch with all customers. I don't know what happened, but I just want my money back. Yoshiki Asai was my broker, he is a big scammer. For more information about this scam, please see the photo I uploaded.

2023-10-26 18:22
Unable to Withdraw

Fraud Alert

I have been using this platform since December last year. The account balance is $586,207.73. The first time I tried to withdraw money, they asked me to pay a 10% management fee and gave me some excuse as to how the fee would secure my account. So I did pay the fee because I wanted to withdraw my funds. Now they say my account is locked, they claim illegal activity was involved. I reported it to Forteclaim.com and they refunded me. And it has been restored. This made me realize this is a total scam. Ask for help.

2024-03-21 14:40
Unable to Withdraw

Unable to withdraw funds

The trader links up with the investment advisory company and takes the opportunity to get a share of the money before withdrawing money. Then after the 48-hour commitment, the money was still not withdrawn.

2023-10-26 15:54
Unable to Withdraw

I have been maliciously liquidated for many years, and all my deposits have disappeared.

I was introduced to black investment platforms through netizens, and they all came to my house to collect cash and give me receipts. Everything was going well but my position was liquidated overnight. I went to argue with them but was ignored and my account was blocked.

2024-03-19 10:43
Scam

The platform cannot withdraw funds and cooperates with investment advisors to commit fraud

The investment advisory company claimed that it had no connection with the platform, and that operation and profit sharing were two separate systems. It suddenly required payment of profit sharing before it could operate and withdraw money. I contacted the platform many times but they did not respond. The account was promised to arrive within 48 hours, but it never arrived, which is suspected of fraud.

2023-10-26 12:42
Others

Automatically placing orders in the background, resulting in short positions

I only placed one order, but the Qoin tech backend automatically placed another one for me, causing me to lose my position (in addition to my principal returning to zero, my account also became negative). The investment consultant then said that they had the Champion Project Fund to help reset the account to zero first. You can then repay it to the investment consulting company (which means you have to repay the Champion Plan fund in addition to losing the principal). The backend placed another order 10 seconds after I placed the order, resulting in insufficient margin to maintain the position. When the account became negative, I deposited the money again. When I wanted to withdraw the money, the manager of Qoin Tech, Gao Wencai, said that I could not withdraw the money due to the unpaid Champion Plan Fund. A total of US$225,520 was lost.

2023-12-06 00:27
Unable to Withdraw

DigitalAssetClaim increase odds for money return.

You are not able to take money out once you have invested it. You can only take money out of your account by making more investments and paying fees. It is possible to withdraw money, but not with them, as Qointech are all scammers

2023-10-27 18:57
Scam

No withdrawals are allowed, dividends must be paid before withdrawals can be made

Participating in QOIN TECH US dollar operations, the assistant informed me on October 24 that I need to pay dividends before I can withdraw money, which is different from what they said before. The personnel of the exchange platform did not respond, and the loss was about 100,000 US dollars.

2023-10-24 16:39
Unable to Withdraw

IG’s money-making ads turned into investment scams

I saw a money-making advertisement on IG and clicked on it. I was guided to add a line group to join. The other party gave me a very high profit. I was tricked and transferred the money without realizing it. I did make money in the follow-up operations and also made small withdrawals. But in the end, when I wanted to withdraw a large amount of money, I was blocked and given various excuses, only to find out that I had been cheated...

2024-01-24 01:58
Scam

It was a scam. QOINTECH

It ends up being like what other people have posted here, but the conversation started in the LINE group, and we talked about stocks and the economic situation every day, and then we started talking about FX, and I was called a teacher who gave guidance. A person presented instructions on positions and lot numbers on LINE, and everyone made a profit from it and posted screenshots of trading results and deposit details. Even though I had researched all of this, I was skeptical and tried to start trading, but I was told that other accounts had different spreads, lot numbers, and leverage, so I was guided to open one at a broker's exchange. I researched suspicious places, etc., and I had some trouble with the broker who opened the account, but in the end, they explained it to me and I started with a small deposit, still half-convinced.Winning is winning (lol). I tried comparing it with the chart of the sovereign company, but it was either above or below, so even if there was an error, I couldn't clearly understand how the chart was manipulated, and as this progressed, the story of this fraud gradually became more and more real. By the time I thought things were starting to get serious, it was too late.The group LINE also disappeared and all individual communications were marked as read by no one. It was a good learning experience, but even though I was half-hearted, I was a little greedy, so the study fee increased a bit.

2023-09-22 14:33
    QOINTECH · Company summary
    Aspect Information
    Registered Country/Area Japan
    Founded Year Within 1 year
    Company Name QOINTECH
    Regulation Regulated in the United States with suspicious regulatory license
    Minimum Deposit Not specified
    Maximum Leverage Individual leverage: 25x (10x for RUB/JPY and TRY/JPY)
    Spreads Varying spreads, specific details not provided
    Trading Platforms Trading tool compatible with TradingView, mobile app, web trader platform
    Tradable Assets 31 currency pairs, including major and popular options
    Account Types Not specified
    Demo Account Not specified
    Customer Support Call center available for customer inquiries and support
    Payment Methods Not specified
    Educational Tools Real-time exchange rates, real-time forex charts, real-time cryptocurrency rates, educational resources on various trading aspects
    Trading Hours Monday 7:10 am - Saturday 6:50 am (US Standard Time)

    Overview of QOINTECH

    QOINTECH is a broker based in Japan that has been operating for less than a year. However, it is important to note that QOINTECH currently lacks valid regulation, which raises potential risks for investors. The broker's regulatory status with the United States NFA is categorized as unauthorized, and it exceeds the business scope outlined by its license. Additionally, QOINTECH lacks trading software, which may hinder trading activities. As such, caution is advised when considering engagement with this broker, and it is recommended to explore regulated alternatives with established track records for a safer investment experience.

    QOINTECH offers a range of market instruments for trading, including 31 currency pairs in the FX market and opportunities to trade cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash. The broker offers leverage options, with individual leverage set at 25x (10x for specific currency pairs), subject to weekly review for corporations. QOINTECH does not charge transaction fees but may impose a separate position management fee. Deposit options include direct deposit and transfer deposit, while withdrawals are free of charge, with processing times aimed at within 3 business days.

    The trading platforms provided by QOINTECH include a trading tool compatible with TradingView, offering access to real-time exchange rates, advanced charts, and real-time cryptocurrency rates. The broker also provides educational resources to enhance users' trading knowledge and skills. QOINTECH operates during specific trading hours based on US Standard Time, and customer support is available through a call center.

    basic-info

    Pros and Cons

    QOINTECH has several pros and cons to consider. On the positive side, they offer a range of market instruments for trading, including currency pairs and cryptocurrencies. They also provide leverage options for individuals and corporations. The platform offers useful trading tools such as real-time exchange rates, forex charts, and cryptocurrency rates. Additionally, QOINTECH provides educational resources to enhance users' trading knowledge and skills. Another advantage is that no commissions are required for trading.

    However, there are some drawbacks to be aware of. QOINTECH's regulatory status with the United States NFA is unauthorized, raising concerns about its legitimacy and regulatory oversight. The variety of market instruments available may be limited compared to other brokers. The lack of specific information on spreads and payment methods could make it difficult to assess the cost and convenience of trading. QOINTECH also lacks trading software, which could potentially hinder trading activities. Additionally, there is a lack of customer support information, such as email address or phone number, and a limited variety of account types.

    Pros Cons
    QOINTECH offers a range of market instruments for trading, including currency pairs and cryptocurrencies. The broker's regulatory status with the United States NFA is categorized as unauthorized.
    QOINTECH provides leverage options for individuals and corporations. Limited market instruments available
    The platform offers trading tools such as real-time exchange rates, forex charts, and cryptocurrency rates. Lack of specific information on spreads and payment methods
    QOINTECH offers educational resources to enhance users' knowledge and skills in trading. QOINTECH lacks trading software, potentially hindering trading activities.
    No commissions required Lack of customer support information on email address, phone number, etc.
    Lack of variety of account types

    Is QOINTECH Legit？

    QOINTECH is currently operating without valid regulation, posing potential risks for investors. The broker's regulatory status with the United States NFA is categorized as unauthorized, and it exceeds the business scope outlined by its license. Additionally, QOINTECH lacks trading software, which may hinder trading activities. Caution is advised when considering engagement with this broker, and it is recommended to explore regulated alternatives with established track records for a safer investment experience.

    regulation

    Market Instruments

    FX: In terms of FX Lots and currency trading, it supports 31 currency pairs, including popular options such as USD/JPY, EUR/JPY, GBP/JPY, AUD/JPY, NZD/JPY, CHF/JPY, and more. It also includes major pairs like EUR/USD, GBP/USD, AUD/USD, NZD/USD, EUR/GBP, and EUR/AUD. These currency pairs allow investors to engage in forex trading and speculate on the exchange rate movements between different currencies.

    market-instruments

    Cryptocurrencies: In addition to traditional currency trading, QOINTECH also provides opportunities to trade crypto assets. Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash are mentioned as examples of virtual currencies available for trading. These crypto assets offer alternative investment options for individuals interested in the digital currency market.

    market-instruments

    Pros and Cons

    Pros Cons
    Supports 31 currency pairs, including popular options such as USD/JPY, EUR/JPY, GBP/JPY, AUD/JPY, NZD/JPY, CHF/JPY, and more. Does not support all currency pairs.
    Includes major pairs like EUR/USD, GBP/USD, AUD/USD, NZD/USD, EUR/GBP, and EUR/AUD. Does not offer all crypto assets.
    Offers opportunities to trade crypto assets. Fees may be high.

    How to Open an Account

    To open an account with QOINTECH, follow these steps:

    1. Visit the QOINTECH website and locate the “Account Opening” or “Register” section.

    open-account

    2. Provide your phone number, ensuring to select the appropriate country code (e.g., +1 for America).

    3. Enter your email address accurately in the designated field.

    4. Fill in your name as requested.

    5. Create a password for your account and enter it twice for confirmation.

    6. If you have received an invitation code, enter it in the provided field.

    7. Complete the verification process by entering the verification code you received, or click on the option to generate a new code.

    8. Once all the required information is filled out, click on the “Register” button or similar prompt to submit your account opening request.

    open-account

    Leverage

    QOINTECH offers leverage options for both individuals and corporations. Individual leverage is set at 25x, except for RUB/JPY and TRY/JPY currency pairs, which have a leverage of 10x. As for corporations, the leverage is subject to weekly review on a currency pair basis. For more detailed information regarding corporation leverage, additional resources are available on their website.

    Spreads & Fees

    QOINTECH offers no transaction fees, making it potentially appealing for traders looking to minimize costs. It also allows traders to start trading with lower funds compared to spot trading. However, it's important to note that a position management fee may be charged separately. The spread presentation status for bitcoin/yen pairs on different dates indicates that the spreads have generally remained at or below certain levels, ranging from 2,300 to 3,500. Traders may consider these factors when evaluating QOINTECH's spreads and commissions.

    spread-commission

    Deposit & Withdrawal

    There are two options for depositing money into your QOINTECH account. The first option is Direct Deposit, where you select the FX account during the deposit process. Please note that direct deposit requires a minimum amount of 5,000 yen. The second option is Transfer Deposit, where the funds are transferred to your FX account after the deposit is reflected. However, it is not possible to deposit directly into the FX account using transfer payment.

    QOINTECH imposes fees for deposits, which are borne by the customer. Direct deposit is free of charge. On the other hand, withdrawals from your account are free of charge.

    To initiate a withdrawal, you can submit a withdrawal request through the My Page section of the platform. It is important to note that withdrawals can be requested for amounts of 2,000 yen or more.

    Once a withdrawal request is made, QOINTECH aims to process it within 3 business days. Generally, withdrawals submitted before 11:00 am on business days (excluding Saturdays, Sundays, and holidays) will be processed on the same day.

    Pros and Cons

    Pros Cons
    Two deposit options: Direct Deposit and Transfer Deposit Fees imposed on deposits, borne by the customer
    Free of charge for direct deposits Limited withdrawal amounts (minimum of 2,000 yen)
    Withdrawals processed within 3 business days Limited information on withdrawal processing times and methods

    Trading Platforms

    QOINTECH provides trading platforms for forex traders, including a trading tool compatible with TradingView. This platform allows traders to access all the necessary information on a single screen, making trade analysis less stressful. The screen layout is customizable, and traders can focus on order speed and perform chart analysis before placing orders. The platform offers advanced charts with technical indicators and drawing functions for thorough analysis. QOINTECH also offers a mobile app version and a web trader platform for convenience.

    Trading Environment

    QOINTECH provides a trading environment that supports various operating systems, including Windows (version 10), Mac OS (OSX 10.10 or later), iOS (latest version), and Android (version 8.0 or later). The recommended monitor resolution is 1280 × 1024 or higher. Users are advised to use up-to-date web browsers such as Google Chrome, Firefox, or Microsoft Edge, and ensure the latest version of Adobe Acrobat Reader DC is installed. A broadband internet connection is recommended for optimal performance.

    Trading Tools

    QOINTECH offers several trading tools to its clients. Firstly, they provide access to real-time exchange rates, allowing traders to stay updated on the latest currency values. This tool enables users to monitor market fluctuations and make informed trading decisions.

    trading-tools

    Additionally, QOINTECH offers real-time forex charts, providing visual representations of currency pairs' price movements. These charts help traders analyze historical data, identify patterns, and develop trading strategies based on technical analysis.

    trading-tools

    Furthermore, QOINTECH offers real-time cryptocurrency rates. This tool allows traders to track the prices of various cryptocurrencies in real-time, enabling them to stay informed about the volatile cryptocurrency market and potentially capitalize on trading opportunities.

    trading-tools
    Pros Cons
    Access to real-time exchange rates for up-to-date currency values. Charts may be difficult to interpret for beginners.
    Real-time forex charts for analyzing historical data and identifying patterns.
    Real-time cryptocurrency rates for staying informed about crypto market.

    Educational Resources

    QOINTECH offers educational resources to help users understand various aspects of trading. The resources cover topics such as exchange rates and two methods of analysis, providing insights into market dynamics. Additionally, users can learn how to utilize the economic calendar and interpret American economic indicators. QOINTECH provides useful content to enhance users' knowledge and skills, including guidance on reading charts and understanding major economic indicators. The educational materials also cover key technical indicators, equipping users with valuable tools for their trading endeavors.

    educational-resources

    Trading Hours

    QOINTECH's trading hours are as follows, based on US Standard Time: from Monday at 7:10 am until Saturday at 6:50 am. During US Summer Time, the trading hours are from Monday at 7:10 am until Saturday at 5:50 am. It is important to note the specific time frames when planning trading activities with QOINTECH.

    Customer Support

    QOINTECH offers a call center for customer support, catering to various inquiries and troubleshooting needs. Customers can reach out with any questions they may have, even if they are new to Forex trading and feel uncertain about the process. QOINTECH's parent company, Qoin Services Ltd., strives to enhance its services based on customer feedback, aiming to provide adequate support for customers navigating the complexities of Forex trading.

    trading-hours

    Conclusion

    QOINTECH operates without valid regulation, which raises potential risks for investors. Its regulatory status with the United States NFA is categorized as unauthorized, and it exceeds the business scope outlined by its license. The lack of trading software can also hinder trading activities. On the positive side, QOINTECH offers a range of market instruments, including currency pairs and cryptocurrencies, for trading. It provides trading platforms compatible with TradingView and offers real-time exchange rates, forex charts, and cryptocurrency rates as trading tools. The company also offers educational resources to enhance users' knowledge. However, it is essential to exercise caution and consider regulated alternatives with established track records to ensure a safer investment experience.

    FAQs

    Q: Is QOINTECH a legitimate broker？

    A: QOINTECH currently operates without valid regulation, posing potential risks for investors. Caution is advised, and exploring regulated alternatives with established track records is recommended.

    Q: What market instruments does QOINTECH offer？

    A: QOINTECH offers trading opportunities in forex currency pairs and cryptocurrencies, allowing investors to engage in forex trading and speculate on digital currency movements.

    Q: How do I open an account with QOINTECH？

    A: To open an account, visit the QOINTECH website, provide your phone number and email, enter your personal details, create a password, and complete the verification process.

    Q: What leverage options does QOINTECH provide？

    A: QOINTECH offers individual leverage at 25x, except for specific currency pairs with a leverage of 10x. Corporate leverage is subject to weekly review.

    Q: What are the spreads and fees associated with QOINTECH？

    A: QOINTECH offers no transaction fees but may charge a separate position management fee. Spreads for bitcoin/yen pairs generally remain within certain levels, ranging from 2,300 to 3,500.

    Q: How can I deposit and withdraw funds with QOINTECH？

    A: QOINTECH offers options for direct deposit and transfer deposit. Withdrawals can be initiated through the platform's My Page section, with a minimum withdrawal amount of 2,000 yen.

    Q: What trading platforms are available with QOINTECH？

    A: QOINTECH provides a trading tool compatible with TradingView, offering advanced charts, customization options, and mobile and web trader platforms.

    Q: What educational resources does QOINTECH provide？

    A: QOINTECH offers educational materials covering topics such as exchange rates, analysis methods, economic calendars, technical indicators, and chart reading to enhance users' knowledge and skills.

    Q: What are QOINTECH's trading hours？

    A: QOINTECH's trading hours are from Monday at 7:10 am until Saturday at 6:50 am (US Standard Time), with adjustments during US Summer Time.

    Q: How can I contact customer support at QOINTECH？

    A: QOINTECH provides a call center for customer support, assisting with inquiries and troubleshooting needs related to Forex trading.

    User Reviews

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    User comment

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    Comments

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    FX1518667510
    more than one year
    I stumbled upon QOINTECH and thought, 'Why not give it a go?' However, opening an account was not as swift as I anticipated. It was more like setting up a tent in a windstorm. Every time I thought I was making progress, there was another form to fill out, another document to upload. I felt like I was running a race but the finish line kept moving further away. Days turned into weeks, but eventually, I crossed the finish line. My account was finally ready. Though the ride was bumpy, it taught me patience. So if you're planning to dive into the QOINTECH pool, remember to bring loads of patience with you.
    I stumbled upon QOINTECH and thought, 'Why not give it a go?' However, opening an account was not as swift as I anticipated. It was more like setting up a tent in a windstorm. Every time I thought I was making progress, there was another form to fill out, another document to upload. I felt like I was running a race but the finish line kept moving further away. Days turned into weeks, but eventually, I crossed the finish line. My account was finally ready. Though the ride was bumpy, it taught me patience. So if you're planning to dive into the QOINTECH pool, remember to bring loads of patience with you.
    Translate to English
    2023-10-11 10:13
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    Max Lewis
    more than one year
    The first red flag for me was their withdrawal speed - it took forever to actually get my money out! We talking weeks of waiting around for withdrawals to finally process. Real frustrating for a trader. The spread and fee stuff also seemed real shady. They advertise these "hyper-competitive" rates but I was paying way more per trade vs on other platforms. Felt straight up misled.
    The first red flag for me was their withdrawal speed - it took forever to actually get my money out! We talking weeks of waiting around for withdrawals to finally process. Real frustrating for a trader. The spread and fee stuff also seemed real shady. They advertise these "hyper-competitive" rates but I was paying way more per trade vs on other platforms. Felt straight up misled.
    Translate to English
    2023-10-10 17:21
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