SQR Psy is a company that positions itself as one of the leading brokerage firms in the market. It started its operations in 2015 and has gained popularity among users worldwide. However, recently emerging reviews about the company have raised concerns. All these reviews carry a negative tone, prompting thoughts about the reputation of SQR Psy.
Company Information
SQR Psy offers its clients access to highly liquid assets on Asian and European markets. According to the broker’s statement, it has been providing its services for 9 years, with the project being led by William Tudor. However, finding information about this individual on the internet seems impossible, casting doubts on his existence.
It is hard to believe that among the broker’s clients are over 100,000 active investors with a capital exceeding 13 million dollars, especially considering that reviews have only recently started to surface, indicating the company’s recent launch.
An analysis of the domain history confirms that we are dealing with a new company. The site sqrpsy.net was activated on January 29, 2024, indicating that the company has been in existence for less than a month and has suspiciously conducted its operations from the very beginning, as evidenced by the negative reviews.
The lack of diverse contact information on the platform is also a cause for concern. Furthermore, it has been discovered that the provided phone number and email address are fake, indicating the company’s dishonesty and reluctance to engage with users.
Licenses and Regulation
SQR Psy claims to collaborate with regulators and possess all necessary licenses. However, there are no documents on the platform confirming this. Additionally, the company lists an office address in Austria where, according to legislation, it should have registered and obtained a license. However, verification has shown that the company does not have permission to operate in this country, confirming its illegitimacy.
It is important to note that trading on an unregulated platform carries significant risks. Such companies lack access to real markets and cannot guarantee liquidity. This is an illegal project that only simulates trading to extract money from clients’ pockets.
Trading Conditions with SQR Psy
Reviews indicate that SQR Psy does not offer the opportunity to practice for free. After registering on the platform, it is recommended to choose a tariff plan and fund the account. The commercial offer features include:
- Initial deposit starting from $150 (three tariff plans to choose from),
- Leverage up to 1:100,
- Fast order execution,
- Access to trading precious metals and cryptocurrencies, insurance, investment protection guarantee, and round-the-clock support depending on the chosen tariff.
The available methods for funding the account include cards, bank transfers, electronic payment systems, and cryptocurrency transfers. However, information on withdrawal timeframes and commissions is not provided. According to user feedback, there are no issues with deposits, but withdrawing funds is problematic. The company comes up with various excuses to deny payouts.
Client Reviews about SQR Psy
In a short period of its existence, SQR Psy has garnered numerous negative reviews. The broker fails to fulfill its obligations but promises a lot. This is a company that strives with all its might to deplete clients’ wallets.
Conclusion
A comprehensive examination leads us to conclude that SQR Psy is a fraudulent organization. The initial reviews confirm this. If you are considering working with this company, we strongly recommend refraining from this idea to avoid financial losses.
I am extremely dissatisfied with the broker’s performance, as their lack of communication and expertise resulted in poor investment outcomes in 2024.