Read our Rsq Trade review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is an rsqtrade.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Rsq Trade is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Rsq Trade in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Rsq Trade Review Conclusions
Making the Rsq Trade review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Rsq Trade review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Hi there,
Is there perhaps more up to date info on RSQ?
shit company stay far away
i managed to trade up to £660 so i asked for a withdraw
they said they would be be InTouch to authorise it and that was the last i heard from them
they rang me everyday till i gave in and sent them the min $250
don’t be a mug like me
I made the mistake of filling a form to let them contact me. After the first call I smelled a rat and said I am not interested. They subsequently called me another three times, different people every time, each one wanting to know why I am not interested. They do not respect anyone’s privacy. I ended up blocking multiple numbers they try to call me from.
Also look at some of the review sites. No broker gets 5 stars across the board for everything. Those are fake reviews!
STAY FAR AWAY!!!!
I have been trying over a week now to get my money back from RSQ always a different excuse from COVID19 to high volumes of work don’t believe the BS this is a company whose employees have fine tuned the art of scamming. Don’t be a fool like me, the worst thing is that when there sales consultant by the name of Johanes called I explained to him that I had been scammed before, he told me that they have a special programme for people like me who have been scammed before and assured me how ethical and understanding RSQ would be little did I know that I was dealing with the best Scam Artists in town, only once the Financial Advisor David got hold of me and requested that I retract my previous comments and then would get my money back which was over a week now did I realise what thieves these are. Please be ware of them.
Do not invest any money its a scam. Took mu disability money now i have not
Food for the month
They have been pestering us to deposit more and more money into our account. Now that we want to withdraw we find a big Deposit button and a very small (in letters only) withdraw link. If we click on the link they have changed our 1.7 Bitcoin shown available in our trading account to zero and there is no process/steps to start a withdrawal process. When we asked about this they said we must first deposit a further R300,000 before we can withdraw any money! Total and utter SCAM!
Ived just recently invested n it’s not until today I found out it’s a scam please can any1 help me get my money back
Please help me too. I also am a disability pensioner and explained that to then. The way they got hold of me was when David Kaminsky has been giving me the run around already for a month, and on their website it said if you are not happy with the service you’re getting you must send an email to [email protected] and that was when Hannah phoned me. She came up with the story they have lots of problems with David’s company, but not to worry as she will try to trace and track my money but she must warn me that if I’m lucky if the recover anything between 75 to 90%. And that should take between 7 and 9 business days. And also she must open an account with them and then they will be able to track and trace my account with David, as that is the only way she can help me. Now they have not send me me anything relating to my account whereas at least David’s company at least sent me an transaction but only for the ZAR20 000 (although he was pushing me for ZAR40 000) but my first payment of USD400 I did not get anything but when I went into my transactions tab it was there and it showed that my account is now standing on USD2600, yet David said he wil refund me USD 2200 so what will happen with the additional USD+400 that according to my transaction showed. But my other problem is Hannah from RSQtrade that is now not answering my w/a and the email address that she gave me bounces back as a non existing address. I’m in such a financial crisis due to this due to a medical problem I need medication for life and death situation. I’ve already had 27 back operations so this is not a matter of an excuse.
I never want to hear the word trading again as I think they all are feeding off of poor people that can least afford it.
I also send my info to them and is waiting for their call. Luckally I have learned the hard way and that is why I checked them out. I am waiting for them to call me so that I can tell them to go and f@ck themself.
RSQ trade also scammed me R120 000 and when i want to make withdrawal they don’t even answer my calls and messages. Their strategy they persuade you to invest more funds and after that they are goneand all what they do is to sell you a tray full of roses while there is hidden thorns under the roses… Be alerts don’t be a victim like me
What a bunch of thieves!!!!!!! Dont ever invest
Dont let Dennis / Victor / Dominique / Emma try to convince you. They make you all the promises and in the beginning everything seems legit and you are actually making profit. Freaking as*****s
I was scammed too. In the beginning of March, I browsed a site and within 24 hours I received a phonecall. Some guy with the name of Bastian, then another woman, tjen Dennis snd the retention agent named Vincent.
All ran smooth seeing Dennis Tomasek was my tutor and explained how to trade but then Vincent interveined and explained to me that there is something wrong with the safety net of the crypto currency in ETHUSD and they need $1500 to level it out again. ETHUSD kept sagging and I paniced a bit so I did stop trade dead in its tracks loosing apparently $8000! I realised trading is not my game and wanted my outstanding ammount left in my account. A week layer, they blocked all forms of communication and now I am stranded with sum money left in their account. How am I gonna get my money back?
I LOST MONEY 2ND TIME AROUND WITH RSQ. DONT ANSWER THEIR PHONES OR EMAILS. DANIEL REED WAS SUPPOSED TO BE MY PERSONAL FINANCE GUY. PROMISED ME LOTS OF MONEY WITHIN 2 MONTHS (NOT MILLIONS THOUGH) IT’S LIKE THEY DISSDAPEARED FROM THE Planet. You can not withdraw, they have long excuses why not, and just want you to INVEST MORE ALL THE TIME. DO NOT DO BUSSINESS WITH THEM!!
Magda
Stay away from RSQ Trade, they are a bunch of crooks. Lost all my investment within 2 months. Tried to withdraw when I realised what they are but all I got were lame excuses, if they even replied. Most of the time they just ignored my emails. My account manager was a David, smooth talker, I still can’t believe that I fell in the trap at the my age, 60. This made me realise that I must never answer calls from numbers that I don’t recognise. BEWARE our world is corrupted with people like these.
Luckely i saw your comments on RSQTRADE before i deposit money. Thanks for the heads up.
I have lost a massive amount of money R 258.000.00 in the last two day. Nicolas Moralis and a perrson called David… if that is even their real names… have conracted me. They sounded so convincing but in reality they are the worst type of scammers. I so wish that I read the reviews before hand …I wish I can turn back time. I am.on pension and when they gain access to my bank account … the Nicolas… he took out a personal loam, he even filled in fraudelent information on the loan application andxwas able to secure the amount of money as mentioned. This money stolen is notveven money thst I had…I am now having to pay the money back as well. I have contacted by bank fraud division and hopefully I will find some help in that regard. PLEASE stay away from them RSQ Trading is one of the biggest scams and most dishonest people you will find. For ypur own sake stay very far away.
Hi, same story here….slight different angle. I “invested” a huge some but according to Nicholas they needed more money to get me to a VIP level. In the process to get to VIP I traded myself and bust the account with Bitcoin. Nicholas promised me to get my money back. So again I “invested” R500 000 (which I borrowed) and Nicholas add USD5000 to the account. Once again I was not on VIP level and he started so called technical trading….open a buy position on oil while it was falling like a rock. There I lost USD20000 and then to help me secure the account RSQ deposited USD100000. And now my account is locked and I only have to deposit another USD50000……What a joke and they (RSQ) does not assume any responsibility for the trades that went wrong. I was then handed to David and just lets say….we are not close friends at present. I think we need to make these guys famous. They think because they are in the UK (so I think) they are un-touchable. Let`s proof then wrong. I started by opening a fraud case with my bank. Interested to join me….mail me on :[email protected]
The biggest fraud Trading company you can get, only thing they are good is extort money from you will phone you 10 times a day if they had a sniff that you might have more money then practice to trade, buying when they should sell and selling when they should buy and lose all your money,
THE STRANGEST THING IS. After they lost your money they stop communication immediately remove there profile picture from whats-app and disappear not talking to you.
NOTE:remember the names of the managers, My trading manager was Michael Beagle
The biggest fraud Trading company you can get, only thing they are good is extort money from you will phone you 10 times a day if they had a sniff that you might have more money then practice to trade, buying when they should sell and selling when they should buy and lose all your money,
BTCUSD Buy 0.21 Closed 23/08/21 12:21:25
5 0 , 3 7 6 . 9 5
24/08/21 11:11:07
4 9 , 1 5 2 . 7 8
€0.00 —– €-218.95 Margin Call
Stop Out 15594
GOLD Sell 20 Closed 23/08/21 08:33:44
1 , 7 8 5 . 5 8
24/08/21 10:33:44
1 , 8 0 5 . 3 0
€0.00 —– €-335.98 Margin Call
Stop Out 15509
OIL OCT21 Sell 500 Closed 23/08/21 12:09:26
6 4 . 1 9
24/08/21 10:25:31
6 6 . 5 5
€0.00 —– €-1,005.38 Margin Call
Stop Out 15587
OIL OCT21 Sell 5,000 Closed 23/08/21 08:32:13
6 3 . 9 0
23/08/21 13:51:25
6 5 . 1 7
€0.00 —– €-5,411.53 Margin Call
Stop Out 15508
One more thing, they do not only trade as RSQ. They also trade under Sharp Global, AML & KYC policy.
Beware
On the 5th May 2021, Marek sent me a whats app message from the following number,+447310519933. He said he’d got my number from someone else who had mentioned that I wanted to invest in the uk with him. On the 6th May someone by the name of Alex contacted me with regards to setting up an account, this I already did, in my wifes name Sharon. On the 12th May we put in $1000, after that he started trading in crypto , oil and other trades. On the 13th May we started to trade on their platform. Marek from RSQ,was doing the trading, not me, I’ve no idea how the stock market works. On the 19th May 2021 I transferred the equivalent of R134 000 from my LUNO account to my ewallet at RSQ trading.
On the 19th May I requested a small withdrawal I was informed by Nickolas? that Mr. Denis is in a meeting out of office, I can only assume that Mr Denis is the one I know as “Marek”.
21st May he starts asking me for contacts that would be interested in investing … Up until the 25th May continued to be in touch via whats app telling me all the gains I have made. On the 26th May he is asking for more money to do a big VIP oil trade, tell him funds not available at the moment, so he says he’ll help with funds from his side, I ask him if that is legal and he says he can choose who he gives money to!
On about the 1st June I put +- another R300 000.00. I also ask him for his full name, he tells me it is Marek T Jenick. On the 2nd June he tells me he used to work for HSBC!
On the 3rd June he tells me to open a CEX.IO account for easy transfer of profits and withdrawals. On the 7th July he changes mobile number, to +44740381212738 on the 8th July, he starts asking for more money to invest! I tell him no we are trying to get enough to buy ourselves a home in Northern Ireland. He reports making profit during the month of July and says that he is going on vacation from the 30th July. Reports back to me on the 9th August says he was in Egypt for 12 days with his wife. I keep telling him I want to draw 30% of my profit, but this seems to be going unanswered… He’s onto me about holding money in my wifes UK account” dead capital” on the 13th August I tell him I don’t have the sort of money he would like me to invest. On the 27th August he wants me to invest for 25 bitcoins he wants to use Leverage??? 1:5 ? but he wants more money I tell him I’m not putting in any more money. On the 31st August 2021, I tell him that I have to draw profits, he says, “No problem”???? On the 8th September I told him again that I want to withdraw profit 32500 euro. As we have over 125000 euro in the account. Vincent gets in touch and says that there is a query from the authorities for MONEY LAUNDERING and it needs to be investigated??? They need copies of my passport and my marriage certificate and should take about two weeks to resolve. THAT IS THE LAST I HEAR FROM HIM AND THE COMPANY?
THESE PEOPLE ARE CON ARTISTS AND I WOULD NOT RECOMMEND THEM AT ALL.I WILL BE REPORTING THEM TO THE UK FRAUD UNIT, even though they are unregulated.
RSQTRADE SHITTY COMPANY!!!!!
I’m workit at RSQ Trade and I can tell you that if you lost, you lost, complaining online will not help you in any way.
Since I’m trrading here I had similar results but they told me if I deposit 10K every month for 1 year i can become sotkc broker
Bad bad bad
please can you assist in helping me get my money back I invested 250euro from south africa last week wendsday. My manager is also David. this is urgent can you please let me know what i can do i also tried today to wihdraw the money
I fell victim to this scam and there is no way thy will give me my money back .The man that sold it to my told me I reminded him of his mum …. I wonder if he can sleep at night . I feel for his mum
I never even got to trad I put my money in and when I asked for help to trad I just got no help and then I asked for it back told it was gone
Johnny here I have just been scammed I tried to withdraw no luck won’t open tried to contact no luck. I got retrenched from SAA. Can someone plse assist. 067 2890426.i deposited +-18000 euro can someone assist.
Been scammed need help
Hi is there anyone that can help us with this or give advice on how we can deal with this situation
I’m a pensioner and invested my pension into RSQ Trade after asking to with draw my money I can’t get hold of them they don’t answer my messages what can you help me
RSQ has just stolen more than 70 000 USD from me. They closed their website and all email addresses!
i was also fell victim to this scammers in June , after i joined Nick called me and through anydesk app he went into my bank with my help as he promised me they are not scammers but a legit company . He put more money into the trade account and within 2 days it was 20 000 zar more. I told him about my other bank account and he said he want to see what is in the account. We tried to go into the account but my cellphone number that was link with the account was missing therefore we did not received the otp. He called everyday asking about the account and i told him i closed the account . The next day ive lost all the money that was on the trading account zar 100 000 , just like that . Gone. I decided to let go , as through my own greediness i put myself into this situation , but with prayer and determination i will see there downfall soon.
I was approached by a very assertive Mike recruiting for RSQ Trade after searching for a Forex opportunity. On1st June 21 I allowed a $250 online draw from my debit card. Trading started with the a Dennis Tomasek. What a gentleman. Not long and I was told that we were plying games, more money was needed to be successful. I allowed another $250. Soon Denis had to go on leave and David & Nicholas dealt with my account. Trading oil and bitcoin seemed to slowly grow my fund. Then a very rude Dominique phone me to ask for more money, which I ignored. I had a live trade open so it worked. Eventually Anton Volkov phoned and said he was assigned to me. His approach was good and asked me for another $250 and asked his manager if RSQ could give me another $250 for a month to help. Eventually I had a balance of 1145.31 Euros. When bitcoin started dropping as par Anton’s advice I closed the trade. An asked for a withdrawal. They allowed 221 Euros which was about what I had invested while there was still a balance on the account. The money would be in my bank (ZAR) in 7 days. Which did not happen. The trading platform disappeared with my info, I whatsapped and phoned as I had their numbers, to no avail. Even the friendly staff from support did not open my emails. I went to my bank to do a chargeback, which was not possible as it was online transactions and not like an eft. RSQ amazing company with staff stating they work with $millions of their investors, but their real purpose is to scam them. How miserable must one’s conscience be. I have mails and printouts, but what will it help.
RSQ since 1 June 21 to t 8 September 21 by online payment collected $750 from my bank account with met consent. My brokers Denis and the last one Anton Volklov always wanted more investment, that just the 1st $250 they received to trade for me. Eventually when I wanted to withdraw, which was expressed in Euros They allowed me 221 Euros and the money would be in my bank in 7 days. Nothing of this kid happened. When I queried may trading platform vanished with all my info. Neither Denis or Anton responded to my whatsapps and the support section did not respond to my emails. I am a pensioner. It hurts.
My con artist went by the name of NICKI. Same modus oprandi. Wanted my Sanlam money as well as my money for my house. A real bliksem. My acc went to almost 2 million Rand and then everything went quiet i was locked out of my account and he does not answer any communication. I am unable to reach them by email. All email addresses does not exist. PLEASE, PLEASE DO NOT INVEST WITH THEM.
Hello, fellow traders! I am the vice president of RSQ Trade and I want to tell you that any loss that has occured into your account is now in my pocket!!! Thank you for the money guys!!!
Please send contact details on whatsapp to 079 994 9535.
Hi everyone. I would like to request all the South Africans that got scammed to please send me mail and please share your contact details (mobile number). I would like to contact you with a suggestion. I don`t want to say too much here because my dear friend and expert trader (with 12 years experience), Nicholas is watching the comments.
However, I would like to share the last mail I got from Nicholas and just for the record….”The financial department will take care of the rest of your money .No one here needs it .” This never happened. So it seems that someone was in need of UER 1000. The mail from Nicholas:
“All of your threats are going straight to our legal department , most likely you will hear from them soon .
The financial department will take care of the rest of your money .No one here needs it .
When you lost money by trading on your own , everything was fine and you understood perfectly fine that money can be lost.
When I take one trade which goes off all of a sudden I am a crook .
You need to grow up and check yourself .
Please don’t text or email me again .
You will hear from our legal and finance department one they are ready , your account is no longer under my portfolio , and trust me even if you will find millions of dollars in the future I won’t work with you ever again .
Take care .”
My e-mail address is: [email protected]
Hope to hear from you soon.
Hi
Marius
Can any one tell me were supposedly they were trading from I have lost R400000.00 If any body can just track the
Guys I got scammed too, but when I smelled a rat, I threatened the guy, David, that I had reported his number to Interpol, he immediately got back to me and actually paid back my initial amount, even though my money had grown from $250 to $600!!! But I got my money back, and now I see he has disappeared, I got lucky, sorry about all your scams….
There is no way to contact RSQ Trade. Emails to their “support” do not get delivered and no telephone numbers work.
I RSQ still operational?
I have been scammed out of $53 294.
Today, 9 May 2022, I was contacted again by RSQ trading again… I was informed that there is an investigation into Nicolas and David, who are supposedly being investigated for their fraudulent activities.
I was told that they would like to return a large amount of money to me…
This is such a joke!! When I said that I will not give access to my banking details etc. and that any money returned will be done through the bank where an expert can handle the accounts, suddenly the call dropped.
PLEASE PEOPLE… I have been scammed by these ruthless individuals … do not entertain their nonsense. They are ruthless criminals.
I have requested with the SAP that Interpol should become involved.
Has anybody been contacted by the finance department of RSQ. This is now 7 months after they scammed me. To say they are under investigation by U K police and now ant to help you get your money back that is in Bitcoin. Now they want to open another trade company to give your bitcoin back to you…. They phoned me today a Daniel Veen…
Hi I was scammed with an amount of R290 000.00, by Rsq Trade last year, the name Nicky Hill. I struggle alot to get my money back, but with zero success.
I receive two weeks ago a call from Rsq Trade, where they inform me that they was investigated and needs to pay my money back. A guy called David, phone me yesterday and today, according to him, from the Finance department to ensure I got my money back. I do not trust this, therefore I decide to find out is there anyone else that received such calls or information. I did report the money lost to the police and it is currently under investigation.
I invested R480 000.00 with RSQ Trading in February 2021. I’ve reported them and apparently they’re under investigation. I’ve been receiving phone calls that they have to return my money due to them being investigated. Please check these phone numbers before you get scammed further. +442045798143 – Registered to EBISS UK Limited. =442945253279 – listed as a private number in Cardiff, UK.
They keep phoning me …wanting to give back the money.. As soon as I say I will get my bank to assist then in returning the money they hang up.
Please, under no circumstances get taken in by them with promises of return of money etc.
They are ruthless and have no concern for anybody else but for themselves.
They have try that with me to a guy called him self Sean how can we get hold of them
They have try again to scam me person by the name of Sean called me and say that they what to pay out the R445000.00 SCAMED last year in 2121 just to find out they are just as slick as they were before I am from South Africa Can you people in the UK not getting hold of them Anny help will be appreciated
email address 1958 @gmail .com wehncke
Hi i also fall for them and deposit money with the hope to get some extra cash but to no avail.That was a year ago and got a call from David telling that they got to refund me my money that i invested with them and all the profits and bonusses attached to.But i am still waiting for the money to be transferred and this morning he David call again saying they where trying to transfer the money but my bank won’t allow it and i need R15000 so that the money can be released from my bitcoin wallet.I told him that i don’t have that kind of money and he told me that he must then ask the MAA to release the money and then he hang up.It would’ve taken only 15minutes to transfer the money in my account if i got the R15000.still waiting for call from him.So i guess they really are scammers and want to try and scam me again.I just wish i saw your guys comments at that time before i was falling victim to them.
They are now working from Denmark.
And now the legal department is busy wanting to use a platform called Atomic to pay yoyr money from RSQ back. Calls themselves AML now. Daniel Veen still one of them numbers are +4578152827 and +442038850652 And Whatsup from their legal department +447798657821 Name of Sean. Very persistant. My moeny they have scammed is now R1,6 million Zar
The same story. You have to pay to get your moeney back. They ise Jaxx and now Atomic