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Got payout declined only due to using same strategy as others. Any other prop firm would of paid out the $2.7k
Dear Trader,
We trust this message finds you well. During our recent payout review and the associated withdrawal process, we noticed some irregularities that need to be addressed.
Our investigations have revealed that your account 88906471 contains trading activity highly similar to other traders/strategies, which is a breach of our trading rules as outlined in the Schedule of Assessment and stipulated in the agreement you have signed. The patterns indicate that your trading strategy has been replicated across numerous accounts under different registrations.
The tickets that were detected: 3808132, 3380428, 2667643, 4073362, 4083135, 3458292, 2765082, 4346264, 3419791, 3473756, 2857275, 2563703, 2965627
Instead of immediately terminating your account, we're taking a different approach to address this issue.
For the next month, we will temporarily suspend your Autotrade access, reset your account balance to its initial amount and decline your withdrawal request. However, you will have the opportunity to continue trading and submit another withdrawal request in the future, while adhering to the rules applicable for the first withdrawal request.
Please take this message as your initial formal warning. Our aim is to work together with you to rectify the situation and ensure adherence to the rules. However, if we continue to identify similar trades resembling those of other traders/strategies, we will have no choice but to permanently suspend your account.
If you have any questions or concerns, please do not hesitate to contact us. Our team will be available to assist you.
Thank you for your cooperation.
Best regards,
Quantec Trading Capital Risk Team
Waiting over ten working days for a withdrawal confirmation, I keep getting fed the same auto response to tickets. No direct contact and no explanation why my time, money and hard work has been wasted!
Guess what, when you request a larger amount and follow all their rules you wait 15 days to be told that you copied someone else and they deny your profit split. BIG SCAM. Avoid at all cost
1. They absconded from Discord.
2. They are not verified in TrustPilot.
3. Very Poor support team.
4. Giving withdrawal status takes 3 weeks which is the worst in industry.
Yes Guys, I will stand with my word. 'CEO Mathhew Is a Swindler'.
I had my Quantec Ultimate 100K (#88906154) account and did my 5% Cap profit in 11 trading days and placed withdrawal on 1st March. After 20 days i.e 21st March I have received withdrawal declined mail with the reason of Copy Trading.
I never used any EA or any signals to my trades, out of a total 134 orders only one order hit TP and rest all manually closed by me.
I even requested proof and asked them to take me to a verification interview if required, they replied saying that they cannot disclose the specific details and they are using some tools to analyse these activities.
I am not sure what is stopping them to show the copy trades proofs. How can we believe them further?
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Update:
I just got my Copy Trades list from customer support, its surprisingly marking as copy trade entry or exist any one is matching. Some times slight change price also like 2065.103 to 2065.102. How this can consider copy trade? :)
They have provided 266 pages list where i didn't find any order with same Entry Price and Exist Price.
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Update on 27th March 2024
After my explanation now i got a mail like below:
In order to dispute this breach you will need to contact support via email and explain your situation, if there has been an error they will be able to reverse the breach.
will fight with all my efforts and update.
Terrible prop firm. Submitted my withdrawal request on March the 2nd and got an email today saying it’s been denied because of copy trading. I haven’t copy traded at all it’s all been my own trades and I’ve followed all their rules. They took ages to even respond to my withdrawal request. I worked hard for this payout and they have denied it. Sent them an email back asking why they have declined it as I did everything legit. Will never use these again they just take all your hard working profits and leave you with nothing. I used good risk management, didn’t over trade or overlaverage. My lot size was the same for every trade. I made all my money during the bull run for BTCUSD. Shocking
They declined my payout after 15 days. I traded 5% of an 50K account. It’s a criminal prop firm that definitely have to come to an end. The CEO Martin and Matthew have to go to prison. So please open a criminal case, if they decline your payout. I‘m a manual trader since years and the only thing they told me is I have to change my strategy. Eightcap will be informed soon about the crime, that they cancel them. They take all your declined payout from Eightcap to themselves. Please go to Kortana Fx, Fast Forex Funds or Infinity Forex Funds instead of Quantec !!! They have your fee, your money and the laugh about us all. They say they located in Singapor, but they going after some Caribbean law. Luckily I studied law. I will go for them and hope you all too.
Poor customer service and very very slow withdrawals. Still waiting on my first payot (if i ever got it) and i have waited it now two weeks. Delays is ok, if they can give some schedule but always just apologies and thanks for your patience lol. Worst thing is that i cannot trade on my account when payment is pending. So thats why 1 star. Also shady because Quantec closed theirs discord chat and traders cannot discuss on each other anymore.
Dashboard is good, support ( Instagram ) replies are fast, trading server is fast except for the withdrawal. Withdrawal Got rejected because of Volume Lot Consistency, I hope this is an error in the system. Because ALL my trades are fixed Lot size is 0.18. They give me the list of trades detected when all the trades detected are 0.18 lot size. Therefore, no way that I breached the Volume consistency this time. I'm waiting for their email, and see what they say.
They wrongly denied even my small $600 payout accusing me of copy trading. I have only always traded just with my iPhone manually myself. The thing is they always have this excuse up their sleeve when the funds become tight to payout everybody. They can deny anyone of this for no reason. They obviously cannot prove it so they just send an email and thats it, all your hardwork goes to dust. Dont trust these HFT prop firms. They make money when we lose. Especially this scam firm Quantec. Seen similar thing happen to others too with Quantec.
widraw request submited 8th march.still no update yet.
i use my own created ea for my trading without breaking any rules.they email me that lack of staff and for many widraw request has been placed. so keep patience.
lets see what hapeens.last time i got approved after 6 days and recived the payout.now his time taking so long.
Waiting since 16 working days for any response to payout request. They also removed the chat section in discord so that customers dont communicate with each other.
scam scam i opened a position 125$ on the sl and 600$ on the tp after checking the position i found that it was closed at -366$ and the sl was tooooo far it was not touched and it was not the night spread it was ny season
Requested a payout on 3/14 and it’s been crickets. Today is 3/21 still no payout. I believe this company is a scam do not buy an account with them. That’s for sure money gone.
have been waiting 2 weeks for my withdraw to go through with bitcoin as payment method which they said takes less than a week and when I email them i keep getting automated emails
Avoid this prop firm.No active discord and their last update is on 27/2/2024.Now they are using facebook to promote their challenge.Payout process take minimum 3 weeks and the result they will decline.
After waiting for over 20 days, my withdrawal was rejected, citing alleged copy trading activity, which is simply untrue, as confirmed by hundreds of others before me.
Anyone opening an account here is simply naive and foolish, as I unfortunately discovered firsthand.
Despite explaining my situation, I was dismissively wished "good luck," without any consideration for my message.
With all the negative reviews in here, I decided to make a small profit of $171 WITHOUT violating any rules then requested a withdrawal to see if they really have a problem of paying out even small profits.
I'm giving 3 stars for now but IF i receive my payout or any feedback i'll UPDATE y'all.
UPDATE; I finally got paid in exactly 6 business day! Support was quick!
Absolute fraud. I payed for the 100k ultimate challenge. I passed it. I reached profit cap within 2 weeks. I waited 3 weeks for a payout and it got declined due to copytrading. Which is a pure lie. I normally do my analysis and hop in via market order. Quantec just doesnt want to pay. Thats it. Maybe they do small 300 dollar payouts here and there. Bit they completely kept my 2500 from the profitsplit AND they accuse me for some weird reasons. Same goes for 2 of my friends.
STAY FAR FAR AWAY FROM THIS SCAM
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