QMMFX

QMMFX is a retail forex and CFD broker registered in the Comoros, with a registered address at Hamchako, Mutsamudu, Autonomous Island of Anjouan, Union of Comoros. The company was founded on April 8, 2022, and operates under the entity QMMFX LIMITED, with registration number L15620. The broker offers online trading services in forex, stocks, and metals through a range of account types designed for different trader profiles.

Despite being registered in Comoros, QMMFX does not hold a licence from any major financial regulator. Its registration is with Anjouan Corporate Services Ltd., a private company that issues licences under the Comoros Securities Act. This is not equivalent to oversight by a national financial authority like the FCA, CySEC, or ASIC, which typically provide investor protection and dispute resolution mechanisms. Traders should note that the absence of such regulation exposes them to higher risks, including limited recourse in case of disputes.

QMMFX provides five account types: Standard, Cent, ECN, Crypto, and Diamond. The Standard account requires a minimum deposit of $10 and offers leverage up to 1:500 with fixed spreads and no commission. The Cent account is aimed at beginners with a $1 minimum deposit and the same maximum leverage. The ECN account, with a $100 minimum, offers leverage up to 1:400, while the Crypto account (min $1,000) also has 1:400 leverage. The Diamond account, for high-net-worth investors, requires a $100,000 minimum deposit and offers lower leverage of 1:10.

The broker advertises tight spreads and fast execution across all accounts, but specific spread details are only provided for the Standard account (fixed 15 points). Swap rates and other trading costs are not explicitly stated on the website. Leverage up to 1:500 is high, magnifying both potential gains and losses, and is a key risk factor for retail traders.

QMMFX claims to offer advanced trading platforms with support for desktop, web, and mobile devices. The website mentions real-time charts, technical indicators, and automated trading capabilities, but does not specify the platform provider (e.g., MetaTrader 4/5 or proprietary). The broker lists forex (major, minor, exotic pairs), stocks, and metals as available instruments, though the full list is not detailed.

The broker also promotes secure and fast execution, professional customer support, and a demo account for trial. However, no information is provided about deposit/withdrawal methods, fees, or processing times, which are critical for traders to evaluate the broker's reliability and cost transparency.

QMMFX is not regulated by any recognized financial authority. Its registration in Comoros through Anjouan Corporate Services Ltd. does not provide the same level of investor protection as regulation by bodies like the FCA, CySEC, or ASIC. The broker's account agreement includes a risk warning stating that leveraged trading can result in losses exceeding initial deposits.

Given the lack of regulation and short operating history (since 2022), traders should approach QMMFX with caution. The broker's own description acknowledges it appears to be a fraudulent broker without credible regulation, which aligns with the FXCanary Scam Risk Score of 75/100 (Severe). Potential clients are advised to verify all terms independently and consider the risks of trading with an unregulated entity.

The registered office of QMMFX is in Hamchako, Mutsamudu, Autonomous Island of Anjouan, Union of Comoros. The broker also lists a physical address in Dubai: Office No.1202 Twin Tower, Al Rega, Deira, Dubai, UAE. Contact details include phone numbers +971526056308, +971523808907, and +97142541135, as well as an email address (not specified in the provided results).

The dual location (Comoros for registration, UAE for physical presence) is common among offshore brokers and may raise additional due diligence questions regarding the actual operational oversight and legal jurisdiction governing client accounts.