Crypto trading apps often promise huge profits, but not all are trustworthy. One such app is QLOF, which has been trapping many investors, especially in India.
This review will dive into if QLOF Trading App is a scam or not.
What is QLOF Trading App?
QLOF is a crypto trading app that claims to offer high returns on investments.
Users are enticed by initial profits but soon find themselves in a web of deceit.
The app is based in the UK and has targeted many Indian investors.
Despite its recent inception, the website is already under scrutiny for its deceptive practices.
The trading conditions are designed to trap users:
- Initial Investment: Users invest ₹600, but this amount cannot be withdrawn.
- Profit Withdrawal: Profits can only be withdrawn within 15 days. If a new member is not recruited, the account is locked.
- Upgrading Investment: Users are encouraged to upgrade to ₹3000, falling deeper into the trap.
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Website Profile
| Company Name | QLOF Crypto Limited |
| Incorporation Date | November 15, 2023 |
| Registered Address | 26 Old Broad St, London, EC2N 1DP |
| SIC Code | 63110 |
| Official Website | Qloffund.net |
| Owner | George William Parker |
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QLOF Trading App Review
QLOF initially allows users to make a few profit trades, which builds trust. However, the problems begin when users try to withdraw their profits.
The app imposes numerous conditions, such as the need to recruit new members or invest larger amounts to continue trading. This cycle makes it nearly impossible for users to access their funds.
Several red flags indicate QLOF is a scam:
- Withdrawal Issues: Profits show as “pending” and are rarely processed.
- Recruitment Pressure: Users must recruit new members to unlock their accounts.
- Fake Promises: The app promises easy withdrawals but does not deliver.
- User Bans: Users who attempt to outsmart the system often find their accounts banned.
- Low Traffic: As of May 2024, the website has very low traffic, indicating a lack of trust among users.
QLOF Trading App appears to be a well-constructed scam, luring investors with false promises of high returns. The complex withdrawal conditions and recruitment pressures trap users, making it almost impossible to benefit from the app. Investors are advised to stay away from QLOF and look for more reputable trading platforms. Always research thoroughly before investing your hard-earned money in any crypto trading app.
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