QuantomFx is another fraudulent website that claims to provide “endless trading possibilities” without really having the legal authority to do so since they lack a valid forex license. In short, QuantomFx has all the telltale signs of being a scam.
Is QuantoMFX a Licensed Broker?
The current FCA warning makes it abundantly apparent that QuantomFx’s claim to be governed by both the British FCA and the Cyprus Securities and Exchange Commission (CySEC) is blatant fraud.
QuantomFx also claims to have offices in the United States, however, we have serious doubts about this as the fraudulent website in question is obviously not subject to regulation by the U.S. Commodity Futures Trading Commission (CFTC), as required by American law.
To cut a long tale short, we are undoubtedly dealing with a scam, thus we highly advise you to stay away from it if you value the security of your money.
The broker’s reputation is additionally hurt by the fact that QuantomFx claims to be owned and run by QuantomFX Ltd, a business that is likely situated offshore in the Commonwealth of Dominica.
Why Should Not You Trust an Unlicensed Broker?
All trader funds had to be kept in a segregated account, negative balance protection was guaranteed, a minimum capital adequacy ratio had to be maintained at all times, reports had to be filed on a regular basis, external audits were permitted, and even trader funds had to be insured.
Is QuantoMFX Can Be Trusted?
This is not completely feasible to trust this platform. They are not regulated or warned by FCA, and they don’t have any clear information about them. So, why should you trust them?
Warnings From Financial Regulators
This platform has been red-flagged by FCA, the main financial regulatory body in the UK. FCA mentioned that this broker is a copycat from other brokers. They don’t have any authorization to do business in the UK and no financial loss from the clients will not be recovered.
What Do Traders Think Of QuantoMFX?
Before choosing any broker, you should check their traders’ reviews first. If you see many happy reviews, then you can go ahead. But if you see the opposite, you should avoid them and just turn back from them.
For QuantoMFX, there is not a single happy review for them. Most of the reviews are based on their withdrawal issues, their suspicious activities, and their unreal high leverage value.
Platform Offered by QuantoMFX
Although QuantomFx advertises that it offers the industry standard MetaTrader4, when we tried to access the platform’s web version, we were instead taken to the website of the platform’s creators, MetaQuotes Software, where we were presented with a generic, unbranded version of MT4 that had no connection to the QuantomFx website at all. As a result, we have serious doubts that QuantomFx indeed provides a trading platform.
Country Serving by QuantoMFX
This company is currently serving in the UK, USA, and Italy.
QuantoMFX Range of Trading Markets
Since QuantomFx has been revealed as a hoax, it is not surprising that it is vague regarding concepts like spreads and leverage.
Minimum Deposit and Withdrawal Terms of QuantoMFX
The 250 USD minimum deposit requirement is in line with what the majority of other brokers would request.
Ways to Make a Deposit
You may deposit money at Quanto Markets via wire transfers, major credit and debit cards including VISA and MasterCard, as well as Neteller, Skrill, AliPay, and WebMoney as well as a few more e-wallets.
Victim of QuantoMFX Scam? Report Your Story To Us.
If, on the other hand, you have made your deposit using your Visa or Mastercard, and something goes wrong, you will still have the option to recover your funds by filing for a chargeback at your local bank. This is, in fact, your only viable option to recover your stolen funds if you happen to be dealing with online scammers like QuantomFx. If you have any questions about whether or not you can recover your funds, please do not hesitate to contact our customer support team.
If you are a victim of QuantomFX and lost your money, please submit a report to us. We will evaluate the case and will provide you with a free consultation. We will also refer you to some of the good recovery companies which can really help you to recover the lost money.
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