The first thing noticeable about Royal Q (royalqs.com) is its scanty home page devoid of pertinent information, but fortunately its description on Google does play provides some juicy details:
Royal Q intelligent quantitative system, the full English name of Royal Quantitative, is a system that focuses on artificial intelligence quantitative trading. 4 years of digital currency trading system quantitative strategy development experience, has successively built quantitative systems for many international private equity funds, and perfect investment quantitative strategy models , To maximize the utilization of member funds, and to help members maximize their profits through quantitative transactions in the digital currency market.
Has Royal Q been around for four years?
From the description above, Royal Q makes the claim that they have been doing digital currency trading for at least four years. Our first step in verifying this claim was to check the WHOIS details of their website to ascertain its age. Below is a screenshot
The registration date of the domain is 22 February 2021, showing the domain is not up to four years old. Also, a search for the company on the internet yielded two results, both of which show the company was incorporated in 2021. The first, an incorporation in Hong Kong and another in California.
From this, we can deduce Royal Q’s claim of being in existence for four years is false. As such, we must ask what kind of business generates 117 million plus profit in a year six months of operation?
Where is the documentation to back this up? There’s no audited financial report on the Royal Q website.
Who programs the strategy for the bot?
Royal Q claims to have an AI bot that runs quantitative trading.
The Royal Q website has no information about the principal officers of its company or its technical team. So how can anyone know if this bot has been programmed correctly or if those who programmed it have the technical competency? Also, if someone has a bot that can generate 117 million in profits will such a person be offering that bot for sale on the internet? Moreover, when you consider that quantitative trading strategy loses its effectiveness when other market actors learn of it, it would make no sense to sell such a winning bot, let alone at the paltry sum of $120.
A pyramid scheme?
Royal Q boldly displays a badge on its website which says “Build your community. Extra bonuses via our referral program”
Navigating to Quora, we find a post in which some users of Royal Q narrate their experiences. Vignesh Subramanian confirms that Royal Q is a pyramid scheme, he writes “When you refer someone, you get some % of their profit, so it’s more like a MLM scheme where you refer people and you can make money from their profits too.”
Securites Fraud Warning
The Securities and Exchange Commision of the Philippines has flagged Royal Q. After a detailed investigation into the scheme, they write “the scheme employed by ROYAL Q/ROYAL Q GLOBAL/ROYAL Q MOBILE APP/ROYAL QUANTITY INVESTMENT MANAGEMENT CO., LIMITED, shows indication of a possible “Ponzi Scheme” where monies from new investors are used in paying “fake profits” to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors.“
Putting it all together, we have a platform that lies about how long it has been in existence, with no information about its owners or management team, has a pyramid structure and a regulator has issued a securities fraud warning against it. Our advice is to stay clear as it is surely a fraudulent scheme.