Topic: XQtraders turned out to be scam - page 2. (Read 510 times)

If programinspect.com reviews Xqtraders, they did it in the past when theh were paying the people. Even you also trusted them ( Xqtraders) that time.

These review site who review the ponzi scheme,  and suggest people do invest, you can not exect more than this (what happened to you already). A ponzi scheme site never be a legit one. So avoid them forever. Otherwise this could happen to you again.

On Google search I came across a website called programinspect.com that do research on trading website to review it  to see if it is legit or not. Is it also a scam or research was not done properly?. Xqtraders trading website pretend  to be legit at first but turn to scam at the end. Anyone know if programinspect.com is legit or done by scammers?

USB stick won't make your crypto any safer than you having software wallet on your computer. What you need is a hardware wallet, and they are not that expensive nowadays. Good alternative for a very long hold is paper wallet, but only if you know what you are doing as its easy to mess it up and make it vulnerable.


Of course reviews are faked. I don't trust any of those platforms since there are services that advertise fake reviews (I even saw them on this forum) on both of those platforms and they are dirt cheap.

I can purchase usb stick to store my crypto when I accumulate enough profits.

I checked the ip address of Xqtraders.com and Lunofund.com  and it says the location is the United States. Does ip address give accurate location? I read the reviews of Xqtraders from quora and trustpilot but the reviews might be faked or people who wrote good reviews were not aware that the company is a scam because they are paying at the moment. When I emailed Xqtraders about issue in my account at the end of the email it says best regard Lunofund team. Lunofund was Nigerian platform that was suspended on October with Xqtraders. I believe Nigerian scammers are operating from abroad or the US.

Not your keys, not your coins. Exchanges are for exchanging, not storing.

Anyway, you should move it to your own non-custodial wallet (preferably hardware wallet, since they are not really expensive) as after everything that has happened lately with exchanges and platforms, its simply not worth to risk to keep it there and crypto.com is definitely not too big not to fail (no one is for that matter, including the biggest exchanges like Coinbase and Binance).

I am storing it in crypto.com

To demonstrate to newcomers to their telegram group that there are investors and that there are also successful withdrawals, it is not difficult to create fictitious telegram accounts and fictitious emails. They all talk a lot and act real. These accounts will post screenshots of their payouts and raise questions to admins to look more convincing. Without proper information, innocent people are targeted. You should have realized that investment returns that seem too good to be true are always frauds. There is no such thing as a 292% rate of return offered by banks and large investment firms. Even a yearly investment return of 10% is already considered extremely risky. 

Are you storing your bitcoin on crypto.com or you are sending it to your own non-custodial wallet? I am asking because while crypto.com is legit and had a decent reputation (just a reminder that FTX was the same) its still not the safest place to store your coins and shouldn't be used for that purpose otherwise you are risking losing your coins again.

No it is an email from Xqtraders that the withdrawal was processed.

I am using crypto.com Dollar cost averaging.

What I wanted to say is that even 20% is a lot and not easily reachable, let alone 1% per day, which would make it 365% per year.


Unless you saw those withdrawals on the blockchain then yes, they were fake in order to fool people like you.


Now that you have learned your lesson (at least I hope) I would suggest you to simply buy bitcoin and store in your own wallet and if you are patient enough you may will make a decent profit, without being at risk that someone will disappear with your money

Celsius company is under litigation because it provide ROI of 20 percent and suspected being a Ponzi scheme.
But at least the owner is real.

I came across xqtraders.com telegram group where  I saw users were able to withdraw $10000 dollars, $4000 dollars, $600 dollars and so on? The screenshot email show that all  withdrawal were successful. The withdrawal took place between July 2021 and September 2021. The site was online from January 2021. I think there were bonuses taken from other investors and income is generated from new users. This is to make the platform look like it is legit and encourage people to sign up?

Not all scams use fake names and business, some scammers do it using their real name and they operate that way for many years so it may be possible that those are indeed real people.


It doesn't really matter because both of those percentage are unrealistically high. 1% daily may seem not that much at first, but when you add up those numbers throughout the year you realize that no legit business can offer you that kind of profit. Take for example Celsius that offered ROI nowhere close to that (~20%) and yet they had to do a lot of risky stuff in order to be able to do that, and we all know how that ended up.

To sum it up, any service that offers you more than ~10% (and even that is very high) per year is very suspicious, but then you should ask yourself if that kind of profit is worth the risk of sending your bitcoin to someone else. I think that answer is obvious.

Hi Potato chips,

I believe effort is needed even in trading to make real money. I believe the profit I earned is from other investors money so no real trading is done. By reading reviews online users can’t withdraw money. I only put about $1270 USD and earned about $2500. Other losts hundreds of thousands.

If trading site provide different wallet address each time I send crypto does it sound suspicious?

Since this type of scam is typically low-effort, my guess is they just used someone else's information-- the company directory can be viewed by anyone so it's pretty easy to get information online and claim you're the same company. If not, then I doubt they registered with their real name. Quick lookup and it's not that hard to register a company: it cost a hundred bucks or so and can be done online

But yeah, all you need is the guaranteed high profit to know it's a scam, money doesn't grow like magic. I hope you did not put a large amount of money...

Will try.

You dont need to repost same thing again. Just find "move topic" option at the bottom right section below the current thread itself and move to economy==>scam accusations, you'll figure it out yourself. If you cant, one of the mods will do it later.

And you believe those scumbags so easily.

Where can I find scam accusation board? Send me the link so I can post there. Xqtraders claim they generate profit using innovative trading technique.

Really? 0.8% daily? 292% a year? This is the first sign of a ponzi pyramid scheme. They pay ppl until they decide to run with big money. Im not sure how you got trapped in this.

So what do you think where do they get the money from to pay you such high yields? Lol. Just think logically mate.

I cant find much about this in the forum itself, but anybody promoting such scams should be instantly tagged red.

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I think you're in the wrong board, should be moved to scam accusations board.

Hello everyone,

After been scammed on qxtraders.com I signed with XQtraders on late January 2022 and I thought it was legit because it was registered with Florida department of state and I made profit, so I was able to withdraw money. I always email customer support and they reply instantly and fix any issues. The website look professional which guarantee 0.8 daily return for a year. I thought it was low risk because compared to scam website they guarantee 1000 percent return or more within 24 hours or less. I believe XQtraders was operating a Ponzi scheme so no real investment is made. I reported the website to anti fraud Canada, FBI, and FTC. The website went offline since October 3rd 2022 and I called Xqtraders and no one pick the phone. I chat with them on WhatsApp and they said original platform had issues so they started new site. Lunofund platform for Nigerians was also shut down in October 2022 after issues with original host and then it disappeared. I believe both platform were made by Nigerian scammers. On telegram group users were able to withdraw up to $10000 USD in 2021 and users were able to make multiple withdrawals. I also saw screenshot email of successful withdrawal. I  think they were scammers to encourage people to sign up. I also made a video on YouTube why Xqtraders is a suspected scam. No mention of loss. The website use to have same wallet address where I send my bitcoin. But this time Xqtraders suggested to email them so they give me different wallet address before I sent them bitcoin. I think because there were reported to authorities. They create new wallet address to escape criminal prosecution.

According to Florida department the company name was under Nicholas Spurlock and Kevin Russ and I don’t know if they are real or actors and the phone number appeared Florida number but operating abroad.
So does it make a difference if crypto platform guarantee 1000 percent a day or 1 percent a day?

People claim XQtraders is legit because they were paying and not yet scammed or fake reviews by the company.

Is registration enough or only for tax purpose?

I think qxtraders.com and xqtraders are same scammers.

Anyone scammed by this company? Feel free to comment.