QIVIUT foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://member.qclfx.co/index.php?r=user/login/sign, about the company's legal and temporary regulatory information, the company's address .
QIVIUT Forex Broker
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Offers a trading platform that supports automated trading and claims to provide low transaction costs. Accessible on both PC and mobile platforms, allowing for flexibility in trading. Potentially low service charges and high leverage options for traders.
Numerous complaints and negative reviews suggest issues with fund withdrawals and customer service responsiveness. Lack of regulation and transparency regarding company ownership raises significant trust concerns. Reports of manipulative practices encouraging clients to deposit more funds without allowing withdrawals.Basic Information
United States
Qiviut Forex Broker - Complete Information Guide
1. Broker Overview
Qiviut is a forex and CFD broker that operates under the name QCL FX, with its official website located at qclfx.co. The broker was established several years ago, with claims of operating between 5 to 10 years, although the exact date of incorporation remains unclear. The company is purportedly based in the United States, but there are indications that this information may not be accurate, as some sources suggest it operates from Hong Kong.
The broker is privately held and primarily serves individual retail clients, focusing on forex trading and various financial instruments. Over the years, Qiviut has aimed to create a platform that allows traders to access the forex market and engage in trading various assets, including commodities, indices, and cryptocurrencies.
Qiviuts development has seen it navigate through various challenges, including regulatory scrutiny and market competition. The broker claims to be part of Qiviut Capital LP and QCL International Group Ltd, although details on these affiliations are sparse. The business model appears to focus on retail forex trading, providing clients with access to a proprietary trading platform.
2. Regulation and Compliance Information
Qiviut is not regulated by any reputable financial authority, which raises significant concerns about its legitimacy. The broker does not provide specific regulatory numbers, leading to questions about its operational compliance. Regulatory bodies such as the National Futures Association (NFA) and others have not recognized Qiviut, which is a critical factor for potential investors.
The lack of regulation implies that there are no guarantees for client fund safety, and investor protection measures are insufficient. Qiviut does not appear to have a customer funds segregation policy, meaning client funds may not be kept in separate accounts, increasing the risk of loss in case of financial instability.
Moreover, there is no evidence that Qiviut participates in any investor compensation schemes, which typically provide a safety net for clients in case of broker insolvency. The broker's compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations is also questionable, as it does not disclose detailed measures in place to ensure compliance.
3. Trading Products and Services
Qiviut offers a limited selection of trading products primarily focused on forex pairs. The broker claims to provide access to major currency pairs, including EUR/USD, GBP/USD, and USD/JPY, among others. However, the exact number of forex pairs available for trading is not specified.
In addition to forex trading, Qiviut also offers Contracts for Difference (CFDs) on various asset classes, including commodities, indices, stocks, and cryptocurrencies. The breadth of these offerings is not well-documented, and there are no clear indications of the frequency of product updates or the introduction of new trading instruments.
The broker does not provide a demo account, which is typically a standard offering among reputable brokers, making it challenging for new traders to familiarize themselves with the trading environment before committing real funds. Qiviuts retail trading services are supplemented by claims of providing institutional client services, although details regarding these offerings remain vague.
4. Trading Platforms and Technology
Qiviut operates its proprietary trading platform, which is designed to facilitate forex and CFD trading. While there are mentions of compatibility with MetaTrader 4 (MT4), specific details regarding the platform's functionality and user experience are limited.
The broker does not offer a web-based trading platform, which may limit accessibility for traders who prefer browser-based solutions. However, Qiviut claims to provide a mobile application compatible with both iOS and Android devices, allowing traders to manage their accounts and execute trades on the go.
The execution model used by Qiviut is not clearly defined, leading to uncertainty about whether it operates on an ECN, STP, or Market Making basis. The absence of transparent information regarding server locations and the underlying technology infrastructure further complicates the assessment of the broker's reliability.
Moreover, there is no mention of API access or support for automated trading, which are increasingly important features for traders looking to implement algorithmic trading strategies.
5. Account Types and Trading Conditions
Qiviut does not appear to offer a diverse range of account types. The standard account conditions are not well-defined, with minimal information regarding the minimum deposit requirements, spreads, or commissions.
There are no indications of advanced account types such as VIP or professional accounts, nor are there special accounts like Islamic or corporate accounts mentioned. The broker does not offer a demo account, which is a standard feature for many trading platforms, and it is unclear what leverage options are available for different products.
The minimum trading lot size and overnight fees are also not specified, making it difficult for potential clients to gauge the trading conditions they might encounter upon opening an account with Qiviut.
6. Fund Management
Qiviut supports various deposit methods, including bank transfers, credit cards, and e-wallets, although specific details on the payment processors used are not provided. The minimum deposit requirements for different account types are unclear, which may vary depending on the account selected.
Deposit processing times are not explicitly stated, and there is no information on any associated deposit fees. Withdrawal methods and restrictions are similarly vague, with no clear guidelines on how clients can access their funds once deposited.
The withdrawal processing times are also not mentioned, which is critical information for traders who may need to access their funds quickly. Furthermore, the fee structure for withdrawals is not transparent, raising concerns about potential hidden charges that could affect client returns.
7. Customer Support and Educational Resources
Qiviut provides limited customer support options, primarily through email, as there is no indication of telephone or live chat support being available. The service hours and time zone coverage are not specified, which may hinder effective communication with clients in different regions.
The broker does not appear to offer multilingual support, which could pose a challenge for non-English speaking clients. Educational resources are scarce, with no mentions of webinars, tutorials, or eBooks available to assist traders in improving their skills.
Market analysis services, such as daily analysis, news updates, or research reports, are also not provided, which may leave traders without the necessary tools to make informed trading decisions.
8. Regional Coverage and Restrictions
Qiviut claims to serve a broad market, but specific details on the primary service markets are lacking. The broker does not provide information regarding the distribution of regional offices, which could be crucial for clients looking for localized support.
Moreover, there are no clear indications of countries or regions from which clients are not accepted, leaving potential customers unsure about their eligibility to open an account with Qiviut. Special restrictions, if any, are not disclosed, which could lead to complications for clients attempting to trade from restricted jurisdictions.
In conclusion, while Qiviut positions itself as a forex broker offering a variety of trading services, significant gaps in regulatory compliance, product offerings, and customer support raise red flags. Prospective clients should exercise caution and consider these factors before engaging with the Qiviut broker.
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FX4215042381
Malaysia
QivuitCapital and now UGLEXCHANGE service provider. Feb 2021 I traded for 1 month CFD trading Bitcoin to US$. I had 900,000 in my account and placed a withdrawal for $40,000. I received email to say abnormal transaction and my account frozen. I was then told I could have $500,000 if I pay a deposit of $50,000. I said no way. I was told the platform needed a deposit for security. I then asked for my initial investment back of $14,000 and was declined.
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FX9834345172
South Korea
They didn't inform me about the account freeze. I made a confirmation deposit of 20% for withdrawal according to their explanation. And I also deposited the handling fee, but they froze my account. Without any evidence or explanation.
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2021-02-22
FX4199745789
Malaysia
I deposit $1000 on 13/01/2021 then $1000 on 12/01/2021 and last deposit $2000 on 18/01/2021. So total $4000 i transfer in to my QCL trading account.Then i trade with teacher advise. Sbcusd. I make profit and account now reach to $23000. And now i want to withdraw, but the QCL person telling me to deposit more money. Because your amount is very little. I am shocked [d83d][de35] and i said what? $23000 is a little amount? Is this a joke? Are you kidding me. Then they said ok dont trade with us. I said ok fine,, just give me my money back. But they didn't reply my msg till now. I need help from this forum, who recover thier money from QCL? Kindly contact me and show me the way. zahid5403212@gmail.com This is my email..kindly contact me. Can i make apoliceo report? But where? I dont know.because the mobile number is from USA. So can i complaint to FBI department for investigate this number and QCL company. Kindly any one can advise me. Hope to get response from your alll. Regards Zahid
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2021-02-11
FX4517559662
Taiwan
I use the QIVIUT platform in MT4, the website is https://cn.qclindex.com/, the deposit is 49,000 US dollars, there is 54646 US dollars in my account, and then I asked for a withdrawal, they use various reasons to prevent me from withdrawing funds, QIVUIT refers to it as a system update, but it has been more than 3 days and it was completed today. Now the customer service tells me that I need to deposit up to 66,000 US dollars to withdraw funds. What should I do now?
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2021-01-21
藤原 秀行
Japan
As you can see, my account information is not displayed correctly at last. The log has also disappeared. The QIVUIT side says it's a system update, but it's been over 3 days already and probably erases my information. I was barely able to negotiate with an analyst on LINE, but finally there was no reply. Everything disappeared like bubbles. As the analyst says, I put in the money and make money, and finally they steal my account ID and PWD and make a deal and lose all my property. I'm a fool, but I can't forgive it. By the way, I am reporting to the police. It seems that they are investigating, but I can't identify the other party. Of course I haven't given up. Everyone, please do not put in any funds in the future, thinking that the person who is trading now is being deceived. I think there are many other people who are similar to me. I don't want to cry and fall asleep, so I consult with a lawyer. There is a possibility that the money will be recovered, so we are considering foreclosure of the transferred bank account.
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2021-01-19
FX8590788562
Thailand
I can't withdraw funds. There is about $200,000 in my account. I've paid three times when I wanna withdraw funds. But I still can't get my withdrawal. The customer service replied that they were busy so the process speed may be slow.
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2021-04-18