Review of Scam Projects in Online Trading: Quixite Study
The organization Quixite is a typical representative of scams that deceive clients. The palette of their investment offers includes more than a dozen companies worldwide, and the team of specialists is declared to be very impressive. In reality, all of this is manipulation and an attempt to create noise to attract gullible traders. “Quixite” is not related to online trading, as confirmed by several arguments.
The emergence of this company several years ago has already generated a huge number of negative reviews. What is actually hidden behind the enticing conditions of the Quixite organization and what makes investors fall into the traps of charlatans? These and other questions we will try to address in this analysis.
Inspection of the Official Quixite Website: High-Level Description
Landing on the portal https://quixite.com/, a typical, standard resource designed to impress inexperienced traders stood before us. All necessary information is showcased on the first page. This tactic is quite banal for fraudsters who want to immediately catch the attention of potential victims.
Visitors to the portal are greeted by impressive legends, fake privileges, and legal details that suggest Quixite is actually managed by its unique asset management platform.
Contact instructions are placed at the bottom of the website. No educational materials or analytical reports are found, and basic legal information is only available in English. The concern of this platform for the comfort of Russian-speaking users is dubious, as emphasized by trader reviews.
Doubt is also cast on the “About the Company” section. Besides a weak legend of their successes, there is a list of staff of the scam project. Upon investigation, it was found that the people presented on the site are fictional characters with no connection to the fake holding company “Quixite.”
Analysis of Key Information about the Pseudo-Broker Quixite
According to the legend, the company “Quixite” has been successfully operating since 2017. Indeed, the domain has been active since August 19, 2017, but why have negative reviews from concerned clients only recently emerged? The explanation lies in the company’s acquisition of the platform on December 5, 2019, and its improvement.
During the investigation, it was revealed that the Quixite holding combines over 10 legal entities with offices worldwide. The team claimed by the scam project includes over 500 people, proficient in 5 different languages and based in 7 financial centers. However, there is no evidence to support these claims.
So what does the company “Quixite” really do? Scammers promise a wide range of financial instruments and world-class service to their traders. However, former clients’ opinions regarding this “scammer’s den” are much less favorable in practice.
Doubt is also raised regarding another aspect. Quixite, as stated, holds licenses and permits in all presented jurisdictions, but in reality, no actual documents exist. The paperwork likely has dubious origins and was probably “borrowed” from other companies.
The organizers of the scam “Quixite” claim to serve clients from more than 30 countries. However, this information is questionable since the site only lists two addresses of presumed offices:
- Slovenia: 13 Štihova ulica, Ljubljana,
- Russia: 13 Leninsky Ave, 131, Office 308, Kaliningrad.
Although these locations are often mentioned in reviews by deceived investors, there is currently no evidence of the existence of even one physical office of the company.
Offers of Quixite Scammers: Trading Conditions Revision
The schemers at Quixite skillfully formulate their fictional privileges and entice potential victims with magical prospects:
- 24/7 customer support,
- proprietary patented asset management platform,
lots with guaranteed income,
access to professional-level financial instruments,
unique investment offers.
According to reviews of former clients, all the mentioned privileges are complete fabrications with no real evidence to support them.
In the segment “Conditions”, there are 4 types of accounts presented:
- “Basic”. The minimum deposit amount is $500. Account features: up to 5 trades per month, forced sale not available, time interval – from 3 days,
- “Standard”. Requires an investment of $1,000. Trade size – $50-5000, maximum – 10 trades,
- “Prime”. Initial deposit – $5,000. Terms: up to 20 trades per month, forced closure with a penalty and by agreement, trade size – $1000-20000, time interval – from 1 day,
- “Premium”. Threshold at $20,000. No restrictions on all parameters.
Registration Process on the Quixite Fake Broker Website
To create an account on the portal https://quixite.com/, you need to fill out a simple form, providing the following details:
- login,
- first and last name,
- phone number,
- email,
- password,
- promo code, if available.
Former Clients’ Reviews of the “Scammer’s Den” Quixite: Discussion of Experiences
Over the past year, Quixite’s scam has managed to deceive a large number of naive citizens. Numerous negative reviews found during the investigation all point to a common complaint – Quixite scammers refuse to process withdrawals.
For example, client Maria shared her unpleasant experience of dealing with scammers:
Another investor also fell victim to the same:
Client Georgiy exposed the fraudulent scheme of the seemingly respectable Quixite company in his review:
Unfair Trading at Quixite: The Essence of the Scam
The clever minds at Quixite have devised a non-standard working scheme. We found a review from a user who fell for the scammers’ trap and gave a detailed description of the scam.
Initially, potential clients are persuaded to invest in the platform with at least $50. Fraudsters mislead and spin tales about providing traders with ready-made portfolios with trade hedging, which supposedly eliminates the possibility of losses.
The scammers also mention a nonexistent office in Moscow, claiming it is located opposite “Yandex”. However, in reality, the site indicates a different location.
Clients are then directed to a personalized fraudulent expert who elaborates on the company’s mythical benefits and expected prospects. Investors are lured with special offers and promotions. Profitability of up to 160%, no restrictions, and a wide range of tools – empty claims not in line with reality.
The user’s personal account is limited to just a “Buy” button. No charts, quotes, swaps, or other important attributes of online trading are provided. Why? Charlatans simply create the illusion of activity by managing the site from within.
The climax of the scam occurs when a trader attempts to withdraw funds. After submitting a withdrawal request, a support staff member explains the need to pay an additional commission of 10% of the total transaction amount. However, they cannot deduct the percentage from the transfer amount for any reason.
Even if the client accepts the scammers’ offer and sends the money, it will be of little benefit, as the fraudsters have prepared a second trap for naive users. According to their plan, the client must pay an additional 8% for currency conversion. This process will repeat until the client realizes they are being deceived.
Recommended reads for you:
- Forex trading on news,
- Forex basics: trading using price channels,
- Review of brokers in the Republic of Belarus with a license.
Conclusions on the Analysis of the Scam Project Quixite
Quixite is a deceitful, unethical project ready to resort to any methods to achieve its goal. Nonexistent data, fake licenses, and an unconvincing semi-fabricated company legend are the main signs signaling a vile scam. Former clients’ reviews are full of criticism towards this fraudulent entity, so it is unwise to get involved with the “Quixite” platform!
