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Where can I find the regulation information of this broker?
usherj
Guernsey
2023-05-17
ANSWER Quantum Accruefx is an unlicensed broker we advise against trading with, despite the seemingly attractive deals it offers.There are several mistakes and issues in Quantum Accruefx's claim about its regulatory status: Firstly, it attempts to use a certificate of incorporation from the Companies House (CH) as a license for operating in financial markets (We even discovered that the company number on the certificate belongs to another company). Secondly, it claims to be owned by Dr. Shi Feng Xavier Ltd. on its About page, which contradicts the claim on the homepage that it is owned by Quantum Accruefx Ltd. Thirdly, it purports to have branches in different cities, including a branch in "London in China", which is illogical as London is in the UK. Lastly, it says that it is authorized to provide financial services under the CIF license 247/14 issued by the Cyprus Securities and Exchange Commission (CySEC), but our search find that it is not issued to Quantum Accruefx. Such a flawed statement is a negative sign suggesting that it may be an unlicensed broker. Furthermore, the Financial Conduct Authority (FCA) has issued a warning against Quantum Accruefx for offering financial services or products without proper authorization. You can access the full warning here.Regarding your question, Quantum Accruefx has no regulatory information and it is an illegal broker. Entrusting this broker with your funds or personal details is highly risky as there are no legal protections to safeguard them. Therefore, we strongly suggest investors stay away from unlicensed brokers like Quantum Accruefx and opt for fully regulated ones instead.
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