Report a Scam and File a Chargeback Against RSQTrade

Is RSQTrade a Scam Broker? 

RSQTrade is an unregulated broker. The most important criterion for any broker is that it has a valid license from a regulator, however, RSQTrade does not satisfy this requirement. There are many other problems with RSQTrade. For instance, when visitors sign up for an account, the information clearly goes to another side and that the main site does not really have a dashboard. The pips are too high to give any advantage to clients and withdrawal fees are also burdensome. 

 Is RSQTrade a Scam or Legit Broker?

The leverage for RSQTrade is 1:400 which is very high and indicates that this broker is risky for clients. In addition, this broker has its proprietary trade software. There is not necessarily anything wrong with a broker having its own software, but too often unregulated brokers have fake software that is intended to fool traders into thinking trades are occurring when they are not.

Here are some problems we have discovered from our research on RSQTrade and reviews:  

  • Unregulated
  • Poor Website
  • No Transparency
  • Fake trading software
  • High spreads and fees

ChargeBax experts have examined RSQTrade and have concluded that it seems like a scam. If you want to trade, do some research and select only a regulated broker. If you need assistance finding a reliable broker or require fund recovery from a scam broker, consult with our professionals right away. 

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