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Is QUADMARKS a scam company?
Waldemar Mahindrakar
French Guiana
2023-10-19
ANSWER QUADMARKS' unlicensed activities and dishonest statement about its regulatory status suggest that it is a scam.QUADMARKS claims to be under the supervision of the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). However, there is no evidence that it has a membership in the NFA. Thus, it does not have the approval of either of these regulators to offer investment services in this country, and such misleading information significantly undermines its credibility.What's more, QUADMARKS is supposedly based in the UK, but it does not comply with the regulatory standards, as shown by the alert from the Financial Conduct Authority (FCA). The UK financial authority states that it is an unlicensed firm that unlawfully provides financial services or products to British citizens. For more details of this warning, you can access here.Therefore, QUADMARKS has no regulatory oversight. Investing with this broker is very dangerous, as there are no legal safeguards for the funds. To mitigate risks of fraud and identity theft, we strongly suggest investors to verify a broker's licenses at first. It is advised to stay away from unlicensed brokers and instead choose a fully regulated one.
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