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Is QMMFX a good choice?
Mark R
Norway
2023-04-17
ANSWER QMMFX is a non-regulated broker that we advise against trading with, despite the seemingly attractive deals it offers.QMMFX provides zero details about its regulatory status, which is a clear indication of an unlicensed broker, as legitimate ones always prominently display their accreditation and licenses. When we read the information on this broker's website, we noticed that it claims to be located in Dubai. As per Dubai law, brokers operating in Dubai must be authorized and regulated by the Dubai Financial Services Authority (DFSA). However, our search for QMMFX in the registry of the DFSA did not yield any results. That means this broker is not subject to any oversight.Regarding your question, our advice is not to choose QMMFX since it is an unlicensed broker. Entrusting this broker to hold and control your funds or trading with it is highly risky, as there are no safeguards in place to prevent fraud or theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like QMMFX and opt for fully regulated ones instead.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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