Abstract：How should investors choose among the many forex traders? This article takes QuantumFX as an example and discusses whether the forex broker is trustworthy.
With the rise of the Internet, the foreign exchange market has leapt to become the most liquid and traded financial market in the world. With this, a large number of different kinds of foreign exchange transactions have emerged, so which trader should you trust as an reliable broker？ Now let's take a broker registered in the Cyprus as an example and talk about whether this forex dealer is trustable.
QuantumFX is a regulated broker with offices in the Cyprus, it is claimed that it has long provided high-quality dedicated forex services and now is one of the most effective brokers in the world. But the outcome will tell us they were bold, but overconfident.
WikiFX paid a visit to their authority financial regulator to check whether it was licensed by CySEC. As the most authoritative regulator in the Cyprus, CySEC has the right to exercise prudence and supervision over all companies and individuals who provide, promote or sell financial services or products in the Cyprus.
As can be seen from the figure above that the search page shows“ no search results for QuantumFX”, which makes it clear that this broker is not regulated by the FCA. It also means that QuantumFX at high risk, engaging any financial activity with QuantumFX is not regulated by CySEC.
WikiFX also access to QuantumFXs official website to learn more (https://quantumfx.eu).
To my surprise, when I opened the website, I saw that the domain name was for sale. It is likely that it took money and ran away, which means there are plenty of investors who have been cheated by QuantumFX.
Without access to the website, we cannot see for ourselves if it holds up to something like financial industry. As a professional broker, Its shocking that it does not have an official website or even the most basic information available to the public.
Let's search “QuantumFX” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.
Type “QuantumFX” into WikiFX, and you'll find eight companies named QuantumFX with low scores. This is a terrible thing! This has led to concerns that this is a cloned fake platform, using the so-called “perfect platform” to carry out fraud. If they don't invest carefully, they can fall into investment scams.
As you can see, based on information given on WikiFX(https://www.wikifx.com/en/dealer/3553186159.html), QuantumFX currently has no valid regulatory license and the score is rather negative - only 1.26/10! WikiFX will give brokers a composite score in five categories: license index, business index, risk control index, software index and regulatory index. Since QuantumFX does not have any supervision and does not obtain a regulatory license, the license index, risk control index and regulatory index all score 0, and the final total score is 1.26 (out of 10). Investors can see the overall situation through WikiFX, with higher scores indicating a more reliable broker.
In a nutshell, it's not wise to invest in QuantumFX. The so-called brokerage firm is nothing but a complete fraud, WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing.You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed. In addition, scam victims are advised to seek help directly from the local police or a lawyer.
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