QWEBank advertises itself as an online trading platform with a base in the United Arab Emirates and is run by a reputable financial institution. Even though it markets itself as a trustworthy trading platform, there are serious concerns raised by the lack of appropriate permits, legal documentation, and a registered address.
QWEBank Broker Overview
Website: https://qwebank.com/
Website Availability: Yes
Official Address: Level 6, Ken Lee Building, 20 Edith Cavell Street, Port Louis, Mauritius
Blacklisted By: Central Bank of Russia
Domain Information:
- Domain Name: sdstarfx.com
- Registry Domain ID: 2802561374_DOMAIN_COM-VRSN
- Registrar WHOIS Server: whois.godaddy.com
- Registrar URL: https://www.godaddy.com
- Updated Date: 2024-08-06T22:49:35Z
- Creation Date: 2023-08-01T08:00:42Z
- Registrar Registration Expiration Date: 2027-08-01T08:00:42Z
Lack of Legal Documentation and Registration
One of the most concerning aspects of QWEBank is the complete lack of transparency in its legal standing. Upon investigation, it becomes evident that the platform does not have any legitimate registration as a bank or trading firm in the UAE or any other jurisdiction. Moreover, QWEBank is not listed in any official databases or regulatory organizations, a sign that it is not permitted to offer financial services.
Reputable trading sites must offer clear legal details regarding their ownership, oversight, and adherence to financial regulators. In the case of QWEBank, none of these essential documents exist, casting doubt on its credibility.
Absence of a License
Another critical aspect of the QWEBank scam is its lack of a valid license. The financial services industry is heavily regulated, and all trading platforms are required to obtain proper licensing from their respective regulatory authorities to operate legally. QWEBank, however, does not provide any verifiable licensing information on its website or through external sources. This omission strongly suggests that the platform is operating illegally.
Moreover, this absence of a license means that clients have no protection in case of disputes, making QWEBank a risky and unreliable choice for traders.
Warning from the Central Bank of Russia
According to the CBR, QWEBank is not a legitimate financial institution and may be involved in illegal activities. This warning from a reputable financial regulator further strengthens the argument that QWEBank is engaged in deceptive practices aimed at defrauding unsuspecting clients.
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Please refer to our list of fraudulent Broker 2024 and fraudulent Brokers 2023 to verify whether your broker is legitimate or fraudulent. Don’t suffer in silence. Contact Scams Report today and let us help you get your life back on track. Report romance scammers and other fraudulent forex trading platforms here.
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Note: The information provided in the above QWEBank review is derived from existing web QWEBank reviews. Please be aware that we cannot be held liable for any legal action taken by QWEBank company. If you have any inquiries or concerns, kindly reach out to us via email at [email protected].