Qumas AI Review 2023 – Trustable App or Another Scam?

What is Qumas AI?

Qumas AI is an alleged beginner-friendly trading app. According to their claims, this platform utilizes machine learning AI to automate the processing and prioritization of buy and sell orders.

Interestingly, Qumas AI was previously a reputable quality process management software catering to corporate clients. It was overseen by Kevin O’Leary, an Adjunct Professor at University College Cork in Ireland. Originally owned by Dassault Systems, a French corporation specializing in software development, Qumas (also known as Qumas AI) underwent a change in ownership when it was sold to a company called Biovia. Unfortunately, someone overlooked the renewal of the company’s domain name with the registrar.

Taking advantage of this oversight, crypto scammers acquired the domain and rebranded it as “Qumas AI.” The new website features images from an old conference, but it is important to note that Qumas AI is not a legitimate software-as-a-service (SaaS) company. It is disconcerting to discover that there exists a whole community of scammers and fraudulent review websites who believe that hijacking an expired domain and rebranding it is an acceptable practice.

Is Qumas AI Legit or Scam?

On google you can find many sites with the name Qumas AI, but with different domains. They all claim to be the ones providing the original Qumas AI program. We will use qumas.com as the basis for our review.

Our attempts to gather information about the team behind Qumas AI and the operating company of the platform have been unsuccessful. It is common for this type of software to be developed by anonymous individuals or entities.

Qumas AI primarily functions as a trading application, essentially an automated robot designed to execute trades on behalf of the trader. It is important to note that Qumas AI is not a broker and thus is not required to be licensed by recognized regulators. However, to utilize the app, users must have an account with a broker. Unfortunately, the website does not specify which brokers the trading system is compatible with. It is likely that users will be directed to partner brokers, some of which may lack proper licensing. It is crucial to conduct thorough research on the broker’s legal address and licensing before proceeding. Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

Qumas AI: Account Types

Qumas AI operates differently from traditional brokers, as it does not offer different account types. Instead, to gain access to the app, users are required to deposit a minimum of $250. It is worth noting that the Qumas AI website strongly emphasizes that the platform itself is completely free to use. The $250 deposit is solely used for initiating cryptocurrency trading on behalf of the user.

BUT! Pay great attention to the design of the site. It looks like a common fraud scheme, looks like a one-day site. While some websites have slight textual or graphic modifications, others are completely clones. We strongly recommend to read our reviews of other similar scams – Bitcoin 360 AI, Bit Index AI, Bitcoin Era. If you go to other reviews, you will find that other applications have an exact copy of the Qumas AI site. There are already seven (7) sites claiming to be “official. None of them are legitimate.

Evidence of Fraud qumas.com

According to this particular iteration of the Qumas AI website, the software is purportedly created by a man named “Robert” with the intention of providing newcomers with a “step-by-step wealth creation plan.” However, it has come to light that “Robert” is, in fact, Jim Ottinger, who is understandably outraged by the scammers’ unauthorized use of his picture.

We have the evidence we mentioned earlier. Take a look at the image above, extracted directly from the Qumas AI website. In the first picture, you’ll notice the Dassault Systems logo in the top left corner. In the second photo, pay attention to the presentation board, which explicitly refers to the company’s involvement in document and process management.

This scheme has gone quite viral, and we’ve found several versions and cloned websites that are popular in Google searches these days. And also many positive google reviews link to a third-party site that looks like dozens of others, but each has a different domain.

Multiple affiliate networks are engaged in a competition to increase their search engine visibility. As a result, you will come across numerous websites related to Qumas AI that claim to be the “official” ones. Each of these websites is associated with various contracts-for-difference (CFD) brokers, and different arrangements are established accordingly.

What Should I Do If I Become a Victim of Qumas AI?

We understand the distress and concern you may be experiencing. Falling victim to scams can have significant financial consequences. Taking prompt action is crucial to prevent the fraudster from profiting at your expense and to work towards recovering your misappropriated funds. We strongly advise you to contact us immediately for effective assistance.

Our dedicated team of legal experts is ready and available to support individuals in your situation. You can reach out to us at any time, and we will leverage our resources to attentively listen to your concerns and provide expert guidance.

Qumas AI: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about Qumas AI. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Qumas AI!