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QFX Market Review
QFX Market is a Ponzi scheme. The company does not adhere to the rules that the financial watchdogs have enforced.
QFX Market is a company that does not care to elaborate on its services. The scheme is not trying to give details regarding their business. They have not even made an effort to avail About Us information. The venture states it only wants to make the trading process easier and faster.
Unfortunately, the mechanism that the venture is using is a big mystery. The company also avails trading conditions that are not realistic. Considering that this is a shady scheme, they can’t grant a spread of 0 pips. They must have commissions. Such tight spreads are not profitable to the entity.
Moreover, this is an offshore scheme. No one is overseeing their business. Therefore, it is easy for the entity to manipulate the trading results. Whenever traders lose, the company will be making profits. The entity is trading Options and CFDs. Binary options are all about predicting whether the price is going to increase or decrease. It is more of gambling.
Various regulatory bodies have banned the assets due to the high risks. The venture also claims it uses bots to generate high returns. We would love for the entity to avail its trading results. This would help in proving this is the best scheme.
QFX Market allegedly has over 1500 trading instruments. The scheme expects us to believe in their business blindly. For starters, this is a scheme that lacks transparency. The individuals that are operating the venture remain anonymous. Their qualification is unknown. A genuine company will credit its team. Information regarding their qualification and trading history is availed.
The venture promises clients tight spreads regardless of the volatility in the market. The products that the company is dealing with are risky. The legit brokers try to minimize the risks. They do not make unrealistic promises or guarantee impossible returns. Scammers, on the other hand, are trying to get the best out of their victims.
The platform brags and executes trade instantly. QFX Market allegedly uses a margin trading commission. They accept funds via electronic payments. The entity is allegedly also mining. However, the scheme fails to provide the location of their mining farms. Cryptocurrency mining activities are not a walk in the park. They attract huge costs. The lack of adequate information is another huge red flag.
To make your work easier we have done the legwork for you. Here is a list of some of the best cryptocurrency trading companies in the market. Their trading conditions are clearly outlined. You will know beforehand what you are exposing yourself to. Their performance is also available for everyone to see.
Trading Conditions of QFX Market
The venture claims it uses blockchain technology. They can detect scammers. The venture has several sections, but you will be redirected to the home page once you click them. Nonetheless, the scheme provides an MT5. This is one of the main interfaces in the market.
Despite the scheme advertising tight spread, it offers something different. The AUDCAD pair has a spread of 3 pips. There is no demo account for traders to familiarize themselves with the interface. Furthermore, the spread of this entity will only expose you to more danger.
The leverage that the scheme offers is 1:100 and 1:500. The limit is too high. If you lose the scheme, you are going to get your funds. The trading conditions of the entity are pathetic. We do not recommend you to join the shady entity.
QFX Market Withdrawal and Deposits
QFX Market is a Ponzi scheme that does not bother to reveal their withdrawal and deposit requirements. Additionally, the company does not have an FAQ or Terms and Conditions policy. These are critical red flags. You are not protected against the fraudulent services of the scheme.
Clients can deposit funds via Bank Transfers. The moment you great the people behind this entity access to your money, you cannot recover the funds back. Weirdly, the venture does not see the need to disclose if there are standard fees.
However clear, one thing is that the entity does not care whether you are going to win or lose. Moreover, given the numerous loopholes, expect only the worst treatment from the entity. Chances of them having hidden fees are extremely high.
Customer Support and Contact Details
QFX Market does not qualify to call itself a genuine scheme. This is a platform that is dedicated to remaining behind the shadows. The broker fails to provide their office address. They are operating remotely. Revealing their operational area would only lead to the authorities coming after them.
Moreover, the scheme is not disclosing the team that is behind their venture. The contact details are missing. It is important to note that no genuine scheme would risk destroying their PR the way this entity has done.
The lack of a phone number and email address shows the scheme does not care about traders’ needs. In case you encounter a problem, no one will help you resolve the issue. Therefore, refrain from doing business with such a Ponzi scheme.
Regulation Status of QFX Market
QFX Market is a proudly unregulated scheme. There is nothing to prove their legitimacy. The scheme lacks a registration and a regulatory document. Fund safety is a luxury that the entity is not offering. Various governments are dedicated to protecting their citizens against fraudulent activities.
Therefore, they set a particular capital requirement that the company must deposit in their name before collecting funds from the public members. In case of bankruptcy, the clients can receive compensation. The funds are also kept in separate accounts.
It ensures the company cannot use the money for their greedy needs. They work with reputable banks. Accountability is important in every financial scheme. QFX Market fails to credit their team. There is no evidence that qualified experts are handling the funds of traders.
Invest with companies that have licenses from reputable bodies. This will save you from several hazards. You will also enjoy peace of mind as the scheme will be there even in unfavorable times.
The Domain Insight
QFX Market is a recently established broker. The venture made its first digital insight in September 2021. The people that are behind the entity are anonymous. The privately registered scheme plans to exit the market after one year.
Ponzi schemes do not plan to stay long in the market. This is because before then, their mission will be exposed. Additionally, once they realize no funds are coming their way, they will close down the operation.
The traffic that visits the broker is also inadequate. Unfortunately, we do not know the current area that the scam is targeting its victims from.
QFX Market is a Ponzi scheme. The company does not adhere to the rules that the financial watchdogs have enforced. Moreover, the trading conditions of the scheme are only exposing traders to unfavorable terms. The location of the company remains a mystery. It is baffling that the entity expects traders to know their details yet cannot provide their actual location.
Invest with legit cryptocurrency trading companies. These are schemes that are trading. They are famous in the industry. Their clients leave behind testimonials detailing what to expect. The venture cannot jeopardize their reputation by violating their terms. Expect only the best services.