Quanloop Review 2024

I've been using it for a little over a year and have earned a few hundred dollars from it. However, due to its lack of transparency, I prefer to keep no more than a thousand in it. I choose to withdraw my earnings every month instead of reinvesting, and I've experienced swift withdrawals without any delays. Nevertheless, it's important to note that being a peer-to-peer (P2P) platform does carry inherent risks.

In all honesty, numerous reputable and well-established peer-to-peer (P2P) platforms in the market offer reasonable returns, typically within the range of 9-11%. These platforms frequently offer audited accounts, and some of them are P2P lenders that are subject to Selecting these platforms can offer increased security and confidence because they follow strict legal requirements and provide transparency.

In contrast, the platform you've mentioned seems opaque, with no audited accounts and no regulation as an EU P2P institution. Opting for a P2P investment platform that is 100% transparent about how your money is distributed and the possible hazards is crucial. It's also important to consider platforms where there's documented evidence of some investors experiencing losses in the past. Unfortunately, Quanloop does not seem to offer such transparency or historical information about potential financial risks.

The only negative that I have observed is the standard tax deduction for Belgium, which is consistent with similar accounts like those offered by Revolut and Wise. However, in the brief time I have been using it, I have discovered that the website is trustworthy and easy to use. It seems like a promising substitute for traditional banks for savings, even though I have not tried to take money out yet.

The company is blocking my withdrawal because, following Quanloop's regulations, my bank used a "BBAN" rather than an "IBAN." Now, they insist I open a new bank account and make a new deposit with that account, and only then will they consider allowing me to withdraw funds. It seems perplexing since they initially accepted my money with the 'BBAN'; why is returning it now deemed problematic?

As per the OCU, Quanloop does not fall under the categories of a bank, crowdfunding platform, or investment fund, at least according to the understanding of these concepts in Spain. If Quanloop were to become insolvent, there would be no guarantee fund to lessen the effects. Because Quanloop is a limited company, its liability is capped at the assets of the business, assuming that they exist at all.

Given the lack of protections and possible hazards associated with investing in companies such as Quanloop, it is advisable to proceed with caution and think twice before making a financial commitment. It is possible that issues will arise that are more serious than expected.

Although it is satisfactory, there are issues with taxes and transparency. Everything about the experience fits the description, but I have a specific query: what is the procedure for paying taxes? Will Quanloop handle this process? Do I need to pay taxes on withdrawals, deposits, or the net difference between my deposits and withdrawals? For instance, if the withdrawal equals the deposited amount, meaning the difference is €0, is there no tax obligation? Once this tax clarification is addressed, aside from the transparency issue regarding the utilization of users' funds in loans, there are no noteworthy concerns to highlight.

I began investing small amounts a year ago and initially felt positive about it. However, recent developments have led me to decide to withdraw my investment. Italy has prohibited Quanloop from accepting new investors from the country for regulatory reasons. Additionally, the Consob report from Greece in 2021 has introduced uncertainties that make me uneasy. Despite these concerns, Quanloop hasn't provided any clarification on these matters.

Given the lack of information and the regulatory challenges, I'm apprehensive that, at some point, all accounts from Italy might face closure.