Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighNo licence on any register while taking retail CFD deposits, plus a Japanese government warning for unregistered solicitation; the FSCA number linked to the brand is another company's.
Identity & transparency
6/10 · HighEntity name, registration number and both addresses are disclosed and match the Japanese regulator's record, but ownership and management are undisclosed and no phone number is published.
Withdrawals & conduct
5/10 · ModerateOnly four public reviews exist and three are recovery-service spam that we discounted; no verified pattern of refused withdrawals, but no supervisor to force payment either.
Reputation
6/10 · HighThin footprint for a four-year-old broker: Trustpilot 2.6 from four reviews, all one-star, with no company replies, and no credible base of positive verified accounts.
Website claims
6/10 · HighClaims segregated funds and top-tier liquidity with no regulator behind either promise, and offers 1:2000 leverage; credit given for naming no false tier-1 licence and publishing a real loss statistic.
Operational history
4/10 · ModerateDomain created October 2022 and still trading, roughly four years, with no age exaggeration; short but consistent history.
Who they are
A quick desk file on the company behind the brand.
The desk file on this operation:
- Brand: QF Markets
- Legal entity: Quality FX Ltd (the website, and Japan's regulator, both name this entity. Our own record carried the South African form "Quality FX (Pty) Ltd", which the live site does not use)
- Registered: Marshall Islands, company registration number 118067, at Trust Company Complex, Ajeltake Road, Ajeltake Island MH96960 Majuro
- Head office claimed: 59 Agiou Athanasiou, 4102 Limassol, Cyprus
- Website: qfmarkets.com (domain created 21 October 2022)
- Only licence: none. No regulator is named anywhere on the site, and no licence exists on any register we searched
- Offers: forex, commodities, indices, share CFDs and crypto on MetaTrader 5, four account types from $5 to $500 minimum, leverage to 1:2000
- Not accepted: residents of the United States, Canada, Syria, North Korea, Iran and Iraq
- Age claim: the broker makes no long-history claim. Its 2022 origin matches the domain record, so there is no age exaggeration here
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Republic of the Marshall Islands, Registrar of Corporations
Found by our investigation (1) — the broker does not list these on its own site
Financial Sector Conduct Authority (FSCA), South Africa
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
Two findings carry this verdict, and both come from government sources we opened ourselves.
- A national regulator has formally warned this exact operator. On 26 December 2024 Japan's Kanto Local Finance Bureau published a warning against Quality FX Ltd for conducting financial instruments business without registration, specifically soliciting over-the-counter derivatives through the internet. The notice records the Marshall Islands registered address and the Limassol head office exactly as qfmarkets.com publishes them, and adds that "the name of the service provided by the said operator is QF Markets". That is the same company, not a similarly named one.
- There is no licence behind the money. The site takes deposits for leveraged CFD trading but names no regulator on any page we read, including its home page footer, about page, overview and contact page. The only credential it offers is a Marshall Islands company number, which is incorporation paperwork rather than financial regulation.
- The South African licence linked to this brand belongs to someone else. We searched the FSCA register on 4 August 2026. FSP number 46087 is held by GatesFX (Pty) Ltd, company registration 2014/148132/07, at Office 221, Ingenuity Park, Ballito, authorised on 11 August 2015. A name search for "Quality FX" returned zero authorised providers. So this number cannot be used to describe QF Markets, and we have corrected our own record accordingly.
- Even that licence would not cover this business. FSP 46087 is a Category I authorisation, which permits advice and intermediary services on derivative instruments. It is not the dealing authorisation a firm needs to run a retail CFD book against its own clients.
- Terms that raise the stakes. Leverage of 1:2000 from a $5 minimum deposit is far beyond what any supervised broker may offer retail clients, and there is no compensation scheme or ombudsman behind an unregulated Marshall Islands company.
- A shared address, treated with caution. The Japanese notice records that four other warned operators list the same Marshall Islands address. We give this little weight: that address is the standard registered-agent address used by very many offshore companies, and the bureau itself says the relationship is unclear.
Evidence ledger
Every finding, with its source and how strongly it points.
E1Japan's Kanto Local Finance Bureau published a formal warning on 26 December 2024 against Quality FX Ltd for conducting financial instruments business without registration, by soliciting over-the-counter derivatives online. The notice records the Marshall Islands registered address and the Limassol head office exactly as published on qfmarkets.com, and states that the service the operator provides is named QF Markets.
E2Quality FX Ltd appears on the bureau's official index of operators warned for unregistered financial instruments business, dated 26 December 2024, confirming the warning is a published entry on the regulator's standing list.
E3South Africa's FSCA register shows FSP number 46087 is held by GATESFX (PTY) LTD, company registration 2014/148132/07, at Office 221, 2nd Floor, Ingenuity Park, 3 Nandi Mthembu Drive, Ballito 4419, authorised on 11 August 2015. The authorisation is Category I, covering advice and intermediary services, and the licence is not held by Quality FX.
E4A name search of the FSCA register for Quality FX returned the result that there are 0 FSPs matching the search criteria, so no South African authorised provider trades under that name.
E5The broker's own home page footer, about page, overview page and contact page name no regulator and no licence number. The only credential given is that Quality FX Ltd is registered in the Marshall Islands under number 118067, while the site solicits leveraged CFD trading on forex, indices, shares and crypto.
StrongQF Markets websiteE6The broker advertises four account types with minimum deposits from $5 to $500 and maximum leverage of 1:2000 on all of them, terms no supervised retail broker in a major jurisdiction is permitted to offer.
E7The Japanese warning notice records that the Marshall Islands address used by Quality FX Ltd is the same address as four operators previously warned by the bureau: HLMI Ltd in October 2019, FxPlayer Ltd in March 2020, Lirunex Limited in April 2024 and Amazingtick Limited in October 2024. The bureau states the relationship between them is unclear, and this address is a widely used registered-agent address, so we treat it as weak context rather than proof of a network.
E8Trustpilot shows four reviews for qfmarkets.com with a score of 2.6, all of them one-star, and notes the company has not replied to negative reviews and has not recently invited customers to review it.
E9Three of the four Trustpilot reviews, posted on 27 and 29 January and 2 February 2026, all carry the same title promoting one named fund-recovery service. This is a recovery-scam advertising pattern, so those reports cannot be counted as authentic client complaints. The only ordinary review, from February 2024, complains of a slow deposit process. No verified pattern of refused withdrawals exists.
E10The domain qfmarkets.com was created on 21 October 2022 through eNom and uses Cloudflare nameservers, which is consistent with the broker's own 2022 origin. There is no gap between the claimed history and the domain record, so no age misrepresentation.
ModerateVerisign registry domain recordE11The broker does not display any false tier-1 licence badge. It publishes a specific risk statistic, that 72.99% of retail investor accounts lose money trading CFDs with the provider, and lists countries it will not serve, including the United States, Canada, Syria, North Korea, Iran and Iraq.
ModerateQF Markets websiteE12A sweep of published warning and alert material from the FCA, ASIC, CFTC, CNMV, CONSOB and IOSCO on 4 August 2026 found no further entries naming Quality FX Ltd or qfmarkets.com beyond the Japanese warning. Absence from these lists is not clearance, since such lists lag.
The other side
The strongest case in this broker’s favour.
The fair case for QF Markets, and what we could not pin on them:
- They do not fake a licence on the live site. Many operations in this category display a borrowed tier-1 licence number. This one names no regulator at all and discloses its Marshall Islands entity and registration number openly. That is a real difference, and the reason we did not reach a confirmed-scam verdict.
- The disclosure is accurate. The entity name and both addresses on the website match what Japan's regulator recorded independently. Nothing there is invented.
- No age or history exaggeration. The domain was created in October 2022 and the company dates from the same year. Nobody is claiming decades of pedigree.
- Risk is disclosed specifically. The site publishes a concrete loss figure, that 72.99% of retail investor accounts lose money trading CFDs with the provider, and lists countries it will not serve.
- We found no proof of stolen funds. The public complaint record is very thin. Trustpilot shows only four reviews. Three of them, posted in January and February 2026, all promote the same named "recovery" service, which is the signature of recovery-scam spam rather than genuine victims, so we discounted them. The one ordinary review, from February 2024, complains about a slow deposit process. A 2023 user comment elsewhere reported a small withdrawal being paid.
- No other regulator has listed them. Our sweep of the FCA, ASIC, CFTC, CNMV, CONSOB and IOSCO material on 4 August 2026 found no further entries naming this entity or this domain.
- Not a clone in the usual sense. QF Markets does not copy the branding or identity of a well-known regulated firm. We removed the clone framing our record previously carried.
What would change this
What we would need to see to revise the verdict.
Concrete things that would move this verdict, in either direction:
- Towards safer: a genuine trading licence for Quality FX Ltd, or for whichever entity actually holds client money, appearing on a real supervisor's register, with qfmarkets.com named or acknowledged by that supervisor.
- Towards safer: Japan's Kanto Local Finance Bureau withdrawing or correcting its 26 December 2024 warning against Quality FX Ltd.
- Towards safer: a credible, independently verifiable record of client withdrawals being paid on time and at scale, with amounts and dates, from reviewers with real histories.
- Towards worse: three or more detailed, independent client reports of refused or frozen withdrawals, with amounts, dates and ticket references, that are not recovery-service advertising. That would push this to a confirmed verdict.
- Towards worse: a second national regulator naming qfmarkets.com or Quality FX Ltd on a warning or blacklist.
- Towards worse: the site starting to advertise FSCA licence 46087, or any other licence number it does not hold. That would make it an outright false regulatory claim.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Japan, Kanto Local Finance Bureau warning against Quality FX Ltd
The official warning notice naming the entity, both addresses and the service name QF Markets.
Japan, official index of warned unregistered operators
Quality FX Ltd appears in this list with the warning date 26 December 2024.
Japan FSA, national list of overseas unregistered operators issued warning letters
The nationwide compilation of these warnings, published by the Financial Services Agency.
FSCA South Africa, authorised financial services provider search
The broker publishes no verification link, so use this official search: entering 46087 returns GatesFX (Pty) Ltd, and the name Quality FX returns nothing.
QF Markets company information
The broker's own page, showing only a Marshall Islands registration and no regulator.
Trustpilot reviews for qfmarkets.com
The public review record for this exact domain, four reviews as at 4 August 2026.
Frequently asked questions
Quick answers about this broker’s safety.
Is QF Markets a scam?
We rate it a likely scam and unsafe to use. It holds no financial licence anywhere, and Japan's Kanto Local Finance Bureau formally warned it in December 2024 for taking derivatives clients without registration. We did not find proof of systematic fund theft, which is why the verdict is likely rather than confirmed.
Is QF Markets regulated?
No. The website names no regulator on any page, and we found no licence for Quality FX Ltd on any register we searched. Its only credential is a Marshall Islands company registration, number 118067, which is incorporation paperwork and not financial regulation.
What about the FSCA licence 46087 linked to QF Markets?
That licence is not theirs. We searched South Africa's FSCA register on 4 August 2026: FSP 46087 belongs to GatesFX (Pty) Ltd, company registration 2014/148132/07, based in Ballito, KwaZulu-Natal. A search for the name Quality FX returned zero authorised providers.
Can I withdraw my money from QF Markets?
There is no guarantee. Because no regulator supervises the company, nobody can compel it to pay you. If you hold a balance, request a full withdrawal now and keep written records of every request and response.
Is my money safe with QF Markets?
No. The site says client funds sit in segregated bank accounts, but with no licence and no supervisor there is nothing verifying or enforcing that. There is also no compensation scheme and no ombudsman to appeal to if funds are not returned.
Who owns QF Markets?
The site is operated by Quality FX Ltd, registered in the Marshall Islands under number 118067, with a head office given as 59 Agiou Athanasiou, Limassol, Cyprus. No directors, shareholders or beneficial owners are named publicly.
How old is QF Markets?
The qfmarkets.com domain was created on 21 October 2022, and the company dates from the same year, so the operation is roughly four years old. To its credit, it does not exaggerate this history.
What does a Marshall Islands registration actually mean?
Very little for your protection. It confirms a company exists on paper. The Marshall Islands does not license or supervise forex and CFD brokers, so no authority there checks the firm's capital, pricing, or whether it can return client money.
Why did Japan warn QF Markets?
On 26 December 2024 the Kanto Local Finance Bureau published a warning stating that Quality FX Ltd was conducting financial instruments business without registration, by soliciting over-the-counter derivatives trading over the internet. The notice records the same addresses as the website and confirms the service name is QF Markets.
Is QF Markets a clone of another broker?
Not in the usual sense. It does not copy the name or branding of a well-known regulated firm. However, the South African licence number historically attached to this brand belongs to a different company, so that number must never be treated as evidence that QF Markets is regulated.
Why are the negative reviews about QF Markets unreliable?
Trustpilot shows only four reviews for qfmarkets.com, all one-star. Three of them, from January and February 2026, all promote the same named fund-recovery service, which is a well-known spam pattern rather than genuine client testimony. We discounted those, leaving one ordinary complaint about a slow deposit.
What should I check before depositing with any broker?
Find the licence number, then look it up yourself on the regulator's own register, not on the broker's website. Confirm the licensed company name and the website match the firm you are dealing with, and confirm the licence permits dealing in derivatives, not just giving advice. If a broker names no regulator, treat that as the answer.
What do I do if I was scammed by QF Markets?
Report it to your national financial regulator and to your bank or card issuer immediately, since chargebacks are sometimes possible on recent card payments. Keep all statements, chat logs and transfer records. Do not pay anyone who promises to recover your funds for an upfront fee.
Is the leverage offered by QF Markets normal?
No. It advertises up to 1:2000 with a minimum deposit of $5. Supervised brokers in major jurisdictions are capped at far lower levels, often 1:30 for retail clients, because extreme leverage wipes out small accounts very quickly.
What we recommend
The practical takeaway from everything above.
Our advice to anyone looking at this broker:
- Do not deposit money here. There is no regulator to complain to, no compensation scheme, and no ombudsman. If the company stops paying, there is no formal route to recover funds.
- Treat the Japanese warning as the headline fact. A government body examined this operator and told the public it was taking derivatives clients without the required registration.
- Do not accept the FSCA number. If anyone connects QF Markets to South African licence 46087, that licence is GatesFX (Pty) Ltd's, not theirs.
- If you already have funds there, request a full withdrawal now, keep written records of every request and reply, and do not send further money for any "tax", "fee" or "verification" needed to release a balance.
- Ignore anyone offering to recover your money for a fee. Most of the negative reviews on this broker are adverts for exactly that, and paying them is usually a second loss.
- For our platform: flag the profile with a public risk warning, correct the licence record so FSP 46087 is no longer carried against this broker, and re-check in 30 days for withdrawal-complaint developments.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed August 4, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.