Thinking of getting into business with QFX Market? Here is what you must know about this broker. Carefully read this review to find out if qfxmarket.com is the trading platform you will want to trade with.
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About QFX Market Broker
QFX Market is an offshore brokerage company with a lot of promises for traders. There is no contact address of the broker on its webpage.
Added, the broker claims to offer outstanding execution speed, advanced trading tools and 24/5 customer support.
To clarify, in spite the trading instruments QFX Market claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
qfxmarket.com: Reasons to Avoid This Broker
Firstly, qfxmarket.com is a platform that has failed to pay attention to details. We could not find the location of the broker as its address is hidden from the public.
More so, we noticed qfxmarket.com has no demo account for traders. Since traders can’t test QFX Market on a free account, we can’t know its viability in the forex market.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, QFX Market does not provide any information concerning its deposit and withdrawal.
Minimum Deposit
QFX Market minimum deposit is not specified for forex traders.
As for the payment methods, broker accepts only Bank Wire Transfer. But, you should not consider making any payment with this broker because it is a risk. So beware!
QFX Market Platform
QFX Market claims to offer MT5 (Industry standard trading platforms). The presence of MT5 doesn’t make this broker legit because any scam broker can do the same to lure forex traders.
As for the leverage, it can get up to 1:500. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
QFX Market Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is qfxmarket.com a Reliable Broker?
No, qfxmarket.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
yah dalaal ek ghotaala hai. yah nikaasee ko manjooree nahin deta hai. main 12 aprail 2023 ko kyooepheks ke saath nikaasee anurodh bana raha tha aur unhonne 3 baar meree nikaasee se inakaar kar diya kyonki main veepeees se vyaapaar kar raha tha. jab main ghar se vyaapaar kar raha tha aur phir se apanee nikaasee ka anurodh kiya to unhonne portal tak meree pahunch ko avaruddh kar diya aur meree jama raashi bhee vaapas nahin dee. door rahen… apaixchhargaibachk, chom ko meree sampatti punah praapt karane ke lie shaamil hona pada. bhayaanak hota. youtubairs ko vaastavik jaanakaaree saajha karanee chaahie kyonki inamen se adhikaansh pletaform achchhe nahin hain.
This broker is a scam. It does not approve withdrawals. I was creating a withdrawal request with QFX on 12 April 2023 and they refused my withdrawal 3 times because I was trading from VPS. After I was trading from home and requested again my withdrawal they blocked my access to the portal and didn`t even give my deposit back. Stay away… Apexchargeback, com had to be involved to retrieve my assets. Would have been horrible. YouTubers should be sharing the real infos cos most of these platform are up to no good.