Update 11/6/23: Q.ai will cease its services on December 8, 2023
Deal looks to be expired now.
Contents
The Offer
- Q.ai is offering a $100 bonus when you deposit $100+
Our Verdict
Q.ai is a robo advisor that is now owned by Forbes. It might be possible to go through a portal for another $50, keep in mind the portal link doesn’t show the $100 bonus although a reader was able to stack them. I always go for low fee options so wouldn’t use something like this long term, but should be worth doing for the bonus.
Hat tip to reader snailrock
In the future I will avoid anything by Forbes because this is the worst financial app ever. I installed this app on multiples phones and it’s terrible. Quality control for this app needs to be fired because it’s never worked right. I patiently waited 6 months for them to fix the bugs in their piece of sh*t app and they never fixed the serious problems with it. Some companies deserve to go out of business and this is a perfect example.
I booted up the app for the first time in a while, and it loaded with Q.ai by Forbes then a splash screen about how it’s “the future” then the shutdown notice. A modern story in 3 parts.
One of the worst services I have ever used. Good riddance
I agree, the app was not good. I had to contact support at least three times. The deposit bonus didn’t credit so support had to manually credit it. Then when I sold my position to cash out, the sale said pending for over a month. So support had to manually process it. Then I couldn’t withdraw it, so support had to manually withdraw it to my bank account.
Pretty much my same experience, except when finally withdrawing, I couldn’t get a hold of customer support. They wouldn’t respond to my emails.
I had to join the Q.ai discord and DM one of the co-founders. They finally responded after 3 days and I got a call from a CS agent to withdraw/close my account.
Just got an email from Q.ai today 11/06/2023 stating “Q.ai will cease its services on December 8, 2023”.
Just to add my data point – I transferred my money into a cash position, and it was moved without my knowledge or consent to a DIY account (not automated) and invested. After a bunch of back-and-forth and being told that the unauthorized trades would be unwound – they weren’t – I ended up liquidating my account. Luckily I was able to get the bonus and the initial deposit back + a 3 cent capital gain, but it was a hassle.
P2’s cash was also transferred to an invest account – this time the auto-invest option – but remained in a cash position. More alarmingly, when she went to transfer the cash the last 4 digits of the target bank account did not match her bank account.
This org is seriously messed up and can’t be long for the world.
“This org is seriously messed up and can’t be long for the world.”
The prophet has spoken. Looks like they are winding down.
Can you predict next the lottery numbers?
I’m astonished that it took this long tbh
I checked the app again. Tax form now showed up under tax document section in the app.
Have you guys received any tax form from them?
I have to list every single transactions done by AI when I file my tax right?
I don’t want to close my account yet and lose access to see every single transactions.
I had no luck with their customer service. I did a complaint with FINRA as someone suggested below. They forwarded to SEC and Q.ai did just pay bonus that had mysteriously disappeared from account months ago
Anyone know how to close this stupid account and get your money? I’ve tried multiples times over the past few months. Email / chat never responds.
From the menu, there is a “Close my Account” option that sends any remaining funds to your linked bank and closes the account.
thank you.
I have 200 ish in the AI Portfolio. How do I withdraw the money? Do I sell sell what I have first and than transfer the money to my bank? Would someone kindly tell me how to liquid my portfolio. I can’t even tell what I have in there!
You don’t have to liquidate on your own. There’s a “Close Account” icon somewhere on the “Transfer” screen. Maybe under withdraw. Just close the account and everything will be liquidated to cash, transferred to your bank, and the account will be closed.
I closed my 4 accounts two weeks ago, so I don’t recall the exact terms/locations. Good luck!