Is Qfx Trade Limited Safe or Scam?
What is known about Qfx Trade Limited at the moment?
Qfx Trade Limited offers trading services in forex and CFDs (Contracts for Difference). It provides various account types with different leverage levels, including up to 1:1000 for the Standard account. Site is not responding. Qfx Trade Limited has been identified as a scam company. They entice investors with promises of high returns through forex or cryptocurrency trading but fail to fulfill these promises. Reports indicate difficulties with fund withdrawals, deceptive marketing tactics, and potential fraudulent activities. Investors should exercise extreme caution and avoid any dealings with Qfx Trade Limited to protect their financial
| Company name | Qfx Trade Limited |
|---|---|
| Foundation date | 2021 |
| Registration address | Showroom No. 1 To 5 & 14 To 18, Fourth Floor, Block A, North View Park, Chandigarh Road, Zirakpur, Chandigarh, India, 140603. |
| Operating geography | Asia region |
| Specialization | Forex trading |
| Regulation | SCAM |
| Official site | https://www.qfxmarkets.com |
TU Expert Advice: “I do not recommend Qfx Trade Limited”
I have been working in the financial services market for a long period of time and consider myself an expert in safe investing. I can note that Qfx Trade Limited demonstrates the following characteristics:
- Qfx Trade Limited is not regulated by a Level 1 regulator.
- Qfx Trade Limited is not regulated by a Level 2 regulator.
- Qfx Trade Limited is not regulated by a Level 3 regulator.
- The company is either registered offshore or its registration number cannot be confirmed through official online databases.
- The information about the Qfx Trade Limited’s management is either absent or unreliable.
I recommend completely disregarding any mentions of such companies and refraining from doing business with them and its affiliate bodies. If you are already a client of such a company, immediately explore all options for getting your money back, up to filing a complaint with the financial oversight authorities and courts.
I recommend choosing only reliable and verified partners for trading on financial markets. You can use our 'Find my broker' tool for this purpose.
Which sources were utilized to evaluate the security of Qfx Trade Limited?
The following information was used for the analysis and assessment of Qfx Trade Limited reliability:
- Registration details and information on licenses of brokers, financial companies, and their subsidiaries are published on their official websites.
- Information from regulators' registries, including warnings, comments, and publications by regulators.
- Data from analytical portals, including reviews, complaints, and claims filed by traders.
The latest database update: June 20, 2024.
Avoid Qfx Trade Limited as it is not regulated at all
It is worth noting that regulatory oversight alone is not a guarantee of the safety of your funds, as the regulatory body overseeing the broker plays a crucial role in this regard. The higher the level of the license, the higher the safety of money. We divide all licenses into three levels:
| USA |
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|---|---|
| Switzerland |
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| UK |
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| Australia |
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| Ireland |
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| Japan |
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| Singapore |
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| New Zealand |
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| Canada |
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| Hong Kong |
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Why do you need to trust these regulators?
They have strict requirements for license acquisition including a minimum capital of $125,000, a mandatory physical office, participation in a compensation fund, and compliance with financial discipline rules like KYC. Regulators also enforce stringent control over client account segregation, conduct annual audits of broker financial statements, and monitor operational transparency.
Qfx Trade Limited is not regulated by a Level 1 regulator.
| Cyprus |
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| South Africa |
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| China |
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| India |
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| Israel |
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| Thailand |
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| United Arab Emirates |
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Why are these jurisdictions less reliable?
Have lenient registration conditions, minimal oversight of account movements, and no requirement for full client verification. Periodic superficial checks on licensee activities are conducted.
Qfx Trade Limited is not regulated by a Level 2 regulator
| Belize |
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| British Virgin Islands |
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| Mauritius |
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| Vanuatu |
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| The Bahamas |
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| Bermuda |
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| Cayman Islands |
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Which factors make these regulators less safe?
Licenses issued by these regulators are primarily formalities aimed at attracting financial flows to their jurisdiction, resulting in minimal information disclosure and control requirements.
Qfx Trade Limited is not regulated by a Level 3 regulator.
Why do we have the expertise to assess the reliability of Qfx Trade Limited?
Over the years of working with the analysis of financial companies, Traders Union has accumulated a significant knowledge database. Our analysts know how to distinguish scams from reliable companies. Every month, we publish important insights on this topic.
Conclusion Be careful and don’t participate in new projects without analyzing them. If someone guarantees profits to you, there is a big probability that it’s a scam. If you receive a profitable offer — ask yourself what the profit is and who is offering it. If you see interesting paid tools, don’t hurry to buy them, as there might be free counterparts. If you are going to open an account with a broker, check its license, read reviews, and test withdrawals with small amounts.
This tool will help you choose a legal broker in your country
We have reviewed over 3,800+ different financial companies operating worldwide to provide you with reliable and up-to-date information on licensed brokers.
Advantages of working with licensed brokers:
Legal Protection: Protects your investments.
Reliability: Ensures honesty and transparency.
Risk Minimization: Reduces fraud risk.
Financial Stability: Verified brokers.
We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.
Be careful and cooperate with the trusted brokerage companies only.
Should you identify any inaccuracies on this page or possess additional information about this broker, we kindly request you to inform us.
Team that worked on the article
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).
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- Crypto
- What is known about Qfx Trade Limited at the moment?
- TU Expert Advice: “I do not recommend Qfx Trade Limited”
- Which sources were utilized to evaluate the security of Qfx Trade Limited?
- Avoid Qfx Trade Limited as it is not regulated at all
- Why do we have the expertise to assess the reliability of Qfx Trade Limited?
- This tool will help you choose a legal broker in your country