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No valid regulatory information, please be aware of the risk!
Note: For some unknown reason, we cannot open QfxMarkets official site (https://qfxmarket.com/) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.
General Information & Regulation
QfxMarket is allegedly a forex broker registered in China that claims to provide its clients with leverage up to 1:1000 and spreads of 1.5 pips on the state-of-the-art MetaTrader5 trading platform.
As for regulation, it has been verified that QfxMarket does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.21/10. Please be aware of the risk.
The available tradable assets at QfxMarket are forex currency pairs, indices, futures, stocks, and cryptocurrencies.
QfxMarket claims that a $10 minimum deposit requirement is set for the Basic account, however, other more specific information about account types is not available on the Internet.
The leverage offered by QfxMarket is capped at 1:1000. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
QfxMarket claims that the spread is set at 1.5 pips on certain major forex pairs.
Trading Platform Available
The platform available for trading at QfxMarket is the industry-standard MetaTrader5. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
The minimum initial deposit requirement at QfxMarket appears to be only $10 for the Basic account. However, the broker says nothing about the acceptable deposit and withdrawal methods.
QfxMarket‘s customer support can be reached by telephone: +447537303860, email: firstname.lastname@example.org. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
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