MQF

MQF is a Hong Kong-based brokerage that commenced operations on 30 October 2019. It positions itself as an online trading provider, offering access to forex and CFD markets through three distinct account tiers. However, at the time of this profile, MQF does not hold any publicly listed regulatory licences from recognised financial authorities. This absence of regulation is a significant factor for traders to consider before engaging with the firm.

According to aggregated industry data, the broker's risk profile is elevated, with an FXCanary Scam Risk Score of 51 out of 100. This score reflects the lack of independent user reviews and the absence of verifiable regulatory oversight. Traders are advised to conduct thorough due diligence and weigh the risks carefully.

MQF was founded on 30 October 2019 and is registered in Hong Kong. However, registration in Hong Kong does not automatically imply regulation by the Securities and Futures Commission (SFC) or any other local watchdog. Our review found no mention of MQF on the SFC's public register of licensed entities nor on any other major regulatory database. This lack of licence is a critical omission for a broker soliciting retail clients.

The company's official domain is not recorded in our verified data, making it difficult to assess its online presence or verify marketing claims. In FXCanary's assessment, the combination of a recent founding date and zero regulatory oversight places MQF in a high-risk category. Traders who prioritise regulatory protection may wish to explore alternative brokers with established supervision.

MQF offers three account types tailored to different capital levels and trading preferences. The VIP account requires a substantial minimum deposit of USD 50,000 and features leverage 'Upon Request', indicating a flexible but likely high-leverage arrangement for high-net-worth individuals. This account is clearly aimed at professional or institutional clients willing to commit significant funds without the protection of a regulated environment.

The Ordinary MT5 account, with a minimum deposit of USD 300, is the most accessible option. It offers a maximum leverage of 1:100, which is standard in the industry but can amplify both gains and losses. The Professional ECN account requires a USD 3,000 minimum deposit and also offers 1:100 leverage, suggesting direct market access for more experienced traders. Notably, none of the accounts explicitly offer negative balance protection or segregated client funds, which are typical safeguards in regulated jurisdictions.

MQF claims to provide access to over 100 trading instruments, spanning currency pairs, commodities, and indices. This range is relatively broad, covering major, minor, and exotic forex pairs as well as popular commodity and index CFDs. However, the lack of transparency regarding specific instruments, contract sizes, and trading hours leaves prospective clients in the dark.

In the absence of regulated oversight, the execution quality and availability of these instruments cannot be independently verified. Traders should be cautious about potential limitations such as wide spreads, re-quotes, or restricted trading during volatile periods. Without a reliable regulatory framework, recourse in case of disputes may be limited.

FXCanary's Scam Risk Score of 51/100 indicates an elevated risk profile, primarily driven by the lack of any known regulatory licences. Unregulated brokers expose traders to higher possibilities of unfair practices, including unexpected leverage changes, withdrawal difficulties, or even outright fraud. The absence of user reviews further complicates the assessment, as there is no independent feedback to gauge client satisfaction or complaint history.

For traders considering MQF, the high minimum deposit on the VIP account (USD 50,000) is particularly concerning, as it entrusts a large sum to an unregulated entity. Even the lower-tier accounts require a commitment of USD 300 or USD 3,000, which may still be significant for retail traders. In FXCanary's view, the elevated risk score and lack of regulator support suggest that caution is paramount. Traders should only invest what they can afford to lose and verify any claims made by the broker through independent channels.