Wikilix
Contract reading

What QMMFX legally published, but does not want you to read

Every clause below is published by QMMFX itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: QMMFX LIMITED

sole discretiondeemed acceptanceforum waivercountry restrictionhidden feewithdrawalskyc freezeprofit voidingunilateral amendmentdormancy

QMMFX advertises an official licence from Comoros in English, Persian and Arabic. Clause 15.2 then puts your contract under the law of Saint Vincent and the Grenadines. You get 5 working days to complain, and clause 14.2 rules your own screenshots inadmissible. QMMFX publishes no fee schedule and no deadline for paying a withdrawal.

Back to QMMFX

Contract risk

Money at risk
8.3/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
19
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
6
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
8

How the 19 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical7
Warning10
Notice2

section 52 of 67is where the deepest clause sits, 78% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

1 of these 1 figures comes from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical5 working daysTime to complain. Jump to the clause this comes from.Five working days to complain, using an unpublished procedure

What the documents say

19 clauses worth knowing about, worst first, each quoted from QMMFX's own files

01

QMMFX tells visitors it holds an official licence from Comoros, in English, Persian and Arabic alike. Clause 15.2 then puts your agreement under the law of Saint Vincent and the Grenadines.

Why this matters

The regulator QMMFX advertises has no authority over the contract you signed. Any claim you bring goes to the courts of Saint Vincent and the Grenadines. The Comoros licence you were shown carries no weight there.

Exhibit 1CriticalHarder than usual

This Agreement shall be governed by and construed in accordance with the laws of Saint Vincent and the Grenadines.
Clause 15.2(a) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of qmmfx.com, taken on Sep 2, 2026The claim, on Answer to the home page question, Is QMMFX a licensed and regulated broker?Visit this page on the broker's siteDownload the full size image file
Our own capture of qmmfx.com, taken on Sep 2, 2026What the contract says, clause 15.2(a)Visit this page on the broker's siteDownload the full size image file
Our own capture of fa.qmmfx.com, taken on Sep 2, 2026The claim, on Persian home page, answer to the question about whether QMMFX is a licensed and regulated brokerVisit this page on the broker's siteDownload the full size image file
Our own capture of qmmfx.com, taken on Sep 2, 2026What the contract says, clause 15.2(b)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 3 of 57 in the Client Agreement, near the start.

  • Worse together with Exhibit 17The advertised licence, the registered office, the governing law and the office address in the footer point at four different countries.
02

Clause 14.1(b) gives you five working days to complain, counted from the day the problem happened. Miss that and QMMFX can reject the complaint outright. The procedure you are told to follow is published nowhere on its site.

Why this matters

You have five working days from the event, not from the day you notice it. QMMFX tells you to use a Complaint Handling Procedure it has never published. There is no form, no address and no escalation route.

Exhibit 2CriticalHarder than usual5 working days

The Client must lodge a formal complaint with the Company, in the manner specified in the procedure, within five (5) working days after the occurrence of the event giving rise to the complaint. Failure to do so may result in the Company rejecting the complaint.
Clause 14.1(b) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of qmmfx.com, taken on Sep 2, 2026Five working days to complain, using an unpublished procedure (clause 14.1(b))Visit this page on the broker's siteDownload the full size image file

What it costsA problem on a Friday leaves you until the following Friday. A trade you only spot on your monthly statement is already out of time.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must publish a complaints procedure and give retail clients an independent ombudsman to appeal to. This contract sets a five working day deadline and points at a procedure that does not exist.

QMMFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingA complaint window this short is unusual on its own. Tying it to a procedure the firm has not published leaves you no way to file inside the window.

  • Worse together with Exhibit 3QMMFX sets the deadline, then judges the complaint on evidence only it is allowed to produce.
  • Worse together with Exhibit 4Your statement is already binding after 48 hours, so the complaint window can close on a figure you have been deemed to accept.
  • Only applies after Exhibit 18The deadline runs against a procedure that is not among the four documents QMMFX publishes.
03

If QMMFX decides your trading was prohibited, clause 7.3(d) lets it take every profit it judges connected to that trading. The clause reaches past the trades themselves to what it calls downstream profits, meaning money you earned later with the same capital.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

Your winnings from weeks of unrelated trading can be removed because QMMFX traces them back to an earlier trade it disapproves of. Clause 7.1(c) makes that judgement final, and clause 7.3(e) lets QMMFX debit penalties on top.

Exhibit 5CriticalRarely seen

Debit and confiscate from the Client’s Trading Account(s) any and all profits which the Company, in its sole determination, adjudges to have been derived from or in connection with the Prohibited Trading Activity. This includes not only the profits from the voided transactions but also any subsequent profits (‘downstream profits’) that would not have been achieved without the illicitly obtained capital.
Clause 7.3(d) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of qmmfx.com, taken on Sep 2, 2026Profits can be taken back, including later downstream profits (clause 7.3(d))Visit this page on the broker's siteDownload the full size image file

Our readingVoiding the offending trades is normal. Extending confiscation to later profits earned with the proceeds has no natural stopping point, because every subsequent gain in the account can be traced to the capital that funded it.

  • Only applies after Exhibit 7The confiscation only starts once QMMFX has labelled your trading abusive, and it writes that definition itself.
  • Worse together with Exhibit 6Clause 7.3(f) freezes deposits and withdrawals while the same investigation runs, so the money stays put while the ruling is made.
04

Nothing in this contract says how long QMMFX has to pay you. Clause 3.4(g) lets it withhold, delay or refuse a withdrawal while it investigates, and puts no outer limit on the investigation.

Why this matters

You cannot point to a broken promise about timing, because QMMFX never made one. Clause 7.3(f) can freeze deposits and withdrawals together until an investigation ends, and no clause says when that must be.

Exhibit 6CriticalHarder than usual

The Company reserves the right to withhold, delay, or refuse any withdrawal request if:
Clause 3.4(g) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of qmmfx.com, taken on Sep 2, 2026No deadline anywhere for paying your withdrawal (clause 3.4(g))Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ASIC (Australia)

Firms licensed by the FCA, CySEC or ASIC must return client money promptly on request and hold it under client money rules that set out when it is paid. This contract states no timescale for a withdrawal at all.

QMMFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

05

Your screenshots, your platform logs and any outside price record are declared inadmissible by clause 14.2, which gives absolute priority to the QMMFX server log. Clause 1.6(d) also lets QMMFX decide what its own contract means, and calls that decision final.

Why this matters

You cannot prove a bad fill, because the only evidence allowed is the record QMMFX keeps. If you disagree about what a clause means, QMMFX decides, and clause 7.1(c) says its ruling is not open to appeal.

Exhibit 3CriticalRarely seen

The Company’s server log-file shall be the most reliable and definitive source of information and shall have absolute priority in the case of any trading dispute. The Client’s own platform logs, screenshots, or any third-party records shall be considered inadmissible as evidence to the contrary.
Clause 14.2(a) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of qmmfx.com, taken on Sep 2, 2026QMMFX interprets its own contract and rules your evidence out (clause 14.2(a))Visit this page on the broker's siteDownload the full size image file

Our readingMost agreements say the broker's server log prevails. Declaring the client's own screenshots and every third-party price feed inadmissible goes further, and pairing it with a clause making the broker the sole interpreter of the contract leaves the other party with no route to argue anything.

  • Same clause as Exhibit 5Clause 7.1(c) both bars an appeal against a prohibited trading ruling and supplies the finality that the confiscation power depends on.
06

A losing position that closes below zero leaves you personally liable under clause 5.3(d), payable immediately on demand. Clause 6.5 then lets QMMFX take that money from any other account you hold with it, without telling you first.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Indemnities are money it says you owe it.

Why this matters

You can end up owing QMMFX money on top of losing your deposit. A gap over a weekend can close your position far past the stop out level, and clause 5.3(c) says QMMFX expects that to happen.

Exhibit 8CriticalHarder than usual

The Client shall be fully and personally liable for any negative balance that results from a Stop Out procedure or any other trading activity, and must remit payment for such negative balance immediately upon demand.
Clause 5.3(d) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of qmmfx.com, taken on Sep 2, 2026You owe QMMFX any negative balance, and it can take it (clause 5.3(d))Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU), ASIC (Australia)

Firms licensed by the FCA, CySEC or ASIC must give retail clients negative balance protection, so a client can never lose more than the money in the account. This contract makes you personally liable for the shortfall instead.

QMMFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 6The set-off right reaches a credit balance on one account to cover a debit on another, and no clause obliges QMMFX to pay out what is left by any date.

Five working days to complain, and your own evidence does not count

QMMFX gives you 5 working days from the event to complain, under clause 14.1(b), and points you at a Complaint Handling Procedure it has never published. Clause 14.2 rules your screenshots, your platform logs and any outside price record inadmissible, leaving the QMMFX server log as the only evidence allowed. Clause 1.6(d) also makes QMMFX the sole and final interpreter of its own contract, and statements you do not challenge within 48 hours become binding.

Closing the door1 clause flagged

Every confirmation and statement QMMFX shows you becomes conclusive and binding under clause 4.3(c) unless you write in with a detailed error within 48 hours. Saying nothing counts as irrevocable acceptance.

Why this matters

A wrong fill, a mistaken charge or a missing trade is yours to spot within two days of it appearing. After that the figure stands, and clause 14.2 has already ruled out the evidence you would need to reopen it.

Exhibit 4CriticalHarder than usual2 days

These documents shall be deemed correct, conclusive, and binding upon the Client unless the Client notifies the Company of a specific, detailed error in writing within forty-eight (48) hours of the information being made available. Failure to object within this timeframe shall constitute an irrevocable acceptance of the Statement’s accuracy.
Clause 4.3(c) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of qmmfx.com, taken on Sep 2, 2026Account statements become binding after 48 hours of silence (clause 4.3(c))Visit this page on the broker's siteDownload the full size image file

What it costsA statement published on Friday evening is binding by Sunday evening. A week away from your screen closes the window on every trade in it.

The fee schedule this contract relies on does not exist

Clause 6.1(a) of the QMMFX Client Agreement makes you liable for the charges set out on its website, and the website carries no fee schedule. Clause 6.1(b) then lets QMMFX change those charges without prior notice, effective the moment they are published. The same missing page is where clause 3.6(b) puts the inactivity fee and clause 6.3(b) puts the holding fee on swap-free accounts.

Cost disclosure2 clauses flagged

Clause 6.1(a) says you pay the charges set out on the QMMFX website, and the website carries no fee schedule. Clause 6.1(b) then lets QMMFX change those charges with no prior notice, effective the moment they are published.

Why this matters

You cannot find out today what QMMFX will charge you tomorrow. Watching for a change is your job under clause 6.1(b), on a site that has no page for the charges to appear on.

Exhibit 10WarningHarder than usual

The Client shall be obliged to pay to the Company all applicable commissions, charges, and other costs (including, but not limited to, Spreads) as set out on the Company’s Website.
Clause 6.1(a) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of qmmfx.com, taken on Sep 2, 2026The claim, on Cent account specification on the Account Type pageThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of qmmfx.com, taken on Sep 2, 2026What the contract says, clause 6.1(b)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA or CySEC must disclose costs and charges to a retail client before that client trades. This contract instead points at a website page that does not list any charges.

QMMFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

A swap-free account is not free of charges. Clause 6.3(b) replaces the swap with an administration or holding fee on positions kept open for a set number of days, and neither the fee nor the number of days appears on the QMMFX site.

Why this matters

If QMMFX decides you abused the swap-free status, clause 6.3(c) lets it charge you every swap you would have paid, back to a start date it picks itself. That bill can land long after the trades closed.

Exhibit 11WarningHarder than usual

Such accounts are not subject to daily Swap Charges or Credits. In lieu thereof, an administration fee (or ‘holding fee’) may be charged for positions held open for a specified number of consecutive days, as detailed on the Website.
Clause 6.3(b) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of qmmfx.com, taken on Sep 2, 2026The claim, on Cent account specification on the Account Type pageThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of qmmfx.com, taken on Sep 2, 2026What the contract says, clause 6.3(b)Visit this page on the broker's siteDownload the full size image file
  • Worse together with Exhibit 10Both clauses send you to a website page for the amount, and no such page exists.

QMMFX writes the rules you can break and the leverage you trade on

Abusive Trading, Toxic Flow and High-Frequency Trading are all defined in the QMMFX Client Agreement by the phrase sole and absolute discretion, and clause 7.2(e) names scalping among them. Clause 5.3(d) makes you personally liable for a negative balance, payable on demand, and clause 6.5 lets QMMFX take it from another account without notice. Clause 3.2(b) puts every trade placed with your password on you, authorised or not.

Who decides3 clauses flagged

The words that trigger account closure and profit confiscation are all defined by QMMFX's own judgement. Abusive Trading, Toxic Flow and High-Frequency Trading each turn on the phrase sole and absolute discretion, with no outside test.

Why this matters

Ordinary strategies sit inside these definitions. Clause 7.2(e) names scalping, and clause 7.2(f) covers placing pending orders around a news announcement, so a common way of trading can be reclassified after you profit from it.

Exhibit 7WarningHarder than usual

“Abusive Trading” denotes any trading activity that, in the Company’s sole and absolute discretion, constitutes fraud, manipulation, swap-arbitrage, latency arbitrage, “Toxic Flow”, exploitative “High-Frequency Trading (HFT)” strategies, “Bonus Abuse”, or any other activity meticulously designed to acquire an unfair, unethical, or malicious advantage over the Company’s services, pricing, liquidity, or systems.
Clause 2.1 Abusive Trading in Client Agreement
Read from the broker's site on Archived copyOpen the reference

In July 2025 QMMFX said it did not serve residents of the USA, Japan, British Columbia, Mauritius, Quebec and FATF blacklisted countries. Today's notice names only the UAE, the United States and North Korea.

Why this matters

The dropped wording covered every country on the FATF call for action list, which includes Iran alongside North Korea and Myanmar. QMMFX still publishes a PAMM contract written under Iranian law and markets in Persian, so you may be signing up from a country its own banking partners treat as high risk.

Exhibit 9WarningHarder than usualNew

QMMFX brand does not provide services to residents of the USA, Japan,British Columbia, Mauritius, Quebec and FATF black listed countries. Find out more in the Regulations section of our FAQs.
Clause Regional restrictions in Privacy Policy
Read from the broker's site on Open the reference
  • Worse together with Exhibit 13Removing the FATF wording sits alongside a PAMM agreement drafted for investors in a country on that list.

Every order sent using your username and password counts as yours under clause 3.2(b), whether or not you authorised it. The clause goes further and stops you from arguing later that a trade was not yours.

Why this matters

If someone takes your login and trades your account away, the losses stay with you. QMMFX also excludes liability under clause 11.2(g) unless you can prove gross negligence on its part.

Exhibit 19WarningHarder than usual

The Client shall be fully and exclusively liable for all Orders, instructions, and transactions given through and under their Access Data, and any such Orders received by the Company shall be deemed as valid and originating from the Client, irrespective of whether such use was authorized by the Client. The Client shall be estopped from claiming any such transaction was unauthorized.
Clause 3.2(b) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of qmmfx.com, taken on Sep 2, 2026The claim, on Fast and Secure Execution service page, security paragraphVisit this page on the broker's siteDownload the full size image file
Our own capture of qmmfx.com, taken on Sep 2, 2026What the contract says, clause 3.2(b)Visit this page on the broker's siteDownload the full size image file

The PAMM contract invokes Iranian law, the master contract chooses Saint Vincent

The QMMFX PAMM agreement is drafted under Article 10 of the Iranian Civil Code for investors in Iran, and article 3.4 admits QMMFX is not licensed to operate in Iran's capital market. Article 10.2 then refers disputes to the courts of wherever QMMFX is incorporated. Clause 15.2 of the Client Agreement names Saint Vincent and the Grenadines, so the two documents point an investor at opposite ends of the world.

Choice of law1 clause flagged

The PAMM agreement is written under Article 10 of the Iranian Civil Code, for investors in Iran. Article 10.2 then sends any dispute to the courts of wherever QMMFX is incorporated, and clause 15.2 of the Client Agreement names Saint Vincent and the Grenadines.

Why this matters

QMMFX states in article 3.4 that it is not licensed to operate in Iran's capital market. So the Iranian law the agreement invokes gives you a private contract only, and the court that would hear you sits on the other side of the world.

Exhibit 13WarningRarely seen

If the dispute cannot be resolved through this process, the parties may, in accordance with the laws applicable in the jurisdiction where the Company is incorporated, refer the dispute to arbitration or to the competent authorities or courts of that jurisdiction.
Clause 10.2 in PAMM-agreements
Read from the broker's site on Open the reference

Buried at section 52 of 67 in the PAMM-agreements, 78% of the way through.

Our readingA copy trading agreement drafted under one country's civil code while the master contract chooses another country's law is unusual. It leaves the investor unable to tell which law decides a question the two documents answer differently.

Third party funds void your trades, and introducers see your file

Clause 3.4(d) of the QMMFX Client Agreement lets it cancel from the beginning every trade made with money it suspects came from someone else, and close the account. Payouts are confined to the original source under clause 3.4(f), so a card that has expired can strand your balance. The Privacy Policy treats registration as consent for any introducer to access your information, and sets no retention period or deletion right.

Your money, your data2 clauses flagged

If QMMFX suspects a deposit came from someone else's card, bank account or wallet, clause 3.4(d) lets it cancel every trade you made with that money from the beginning and close your account.

Why this matters

A joint card, a family transfer or a shared wallet can trigger this. Your winning trades disappear, the money goes back to where it came from less transfer costs, and clause 3.4(f) blocks a payout to anywhere else.

Exhibit 15WarningStandard wording

If the Company becomes aware, or reasonably suspects, that funds have been deposited from a third-party source, the Company reserves the absolute right to decline the deposit, immediately return the funds to the source of origination (less any transfer costs), void ab initio any Transactions executed with such funds, and/or immediately terminate the Client’s Account.
Clause 3.4(d) in Client Agreement
Read from the broker's site on Archived copyOpen the reference

Anyone who introduced you to QMMFX may see your information, and the Privacy Policy treats you as having consented to that by signing up. Agreeing to the terms also counts as agreeing to sales calls and emails.

Why this matters

You can opt out of the calls by asking, but the introducer's access is not something you are offered a choice about. The policy sets no retention period and gives you no right to see, correct or delete what QMMFX holds.

Exhibit 16NoticeHarder than usual

In cases where clients have been introduced by a Business Introduce, such Business Introduce may have access to clients’ information. Hence, clients hereby consent to the sharing of information with such Business Introduce.
Clause Non-affiliated third parties in Privacy Policy
Read from the broker's site on Open the reference

QMMFX may fill your order against its own book

Clause 1.2(a)(i) of the QMMFX Client Agreement allows execution on its own account, principal to principal, which means your loss can be its gain. The service page advertises direct market access and guarantees orders processed at the desired price, while clause 4.1(b) calls the displayed price an invitation to treat rather than an offer. QMMFX publishes no conflicts of interest policy, so how it manages this is not on record.

Both sides of the trade1 clause flagged

Clause 1.2(a) says QMMFX may execute your orders on its own account, as principal. Your loss is then its gain, and the site advertises direct market access on the same platform.

Why this matters

The price you see is only an invitation to treat under clause 4.1(b), so QMMFX decides whether to accept your order at it. No conflict of interest policy is published, so you cannot see how QMMFX manages dealing against you.

Exhibit 14WarningStandard wording

The reception and transmission of orders, or the execution (on its own account as principal-to-principal) of orders, for the Client in designated financial instruments (Transactions).
Clause 1.2(a)(i) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of qmmfx.com, taken on Sep 2, 2026The claim, on Fast and Secure Execution service pageVisit this page on the broker's siteDownload the full size image file
Our own capture of qmmfx.com, taken on Sep 2, 2026What the contract says, clause 1.2(a)(i)Visit this page on the broker's siteDownload the full size image file
Our own capture of qmmfx.com, taken on Sep 2, 2026The claim, on Fast and Secure Execution service pageVisit this page on the broker's siteDownload the full size image file
Our own capture of qmmfx.com, taken on Sep 2, 2026What the contract says, clause 4.1(b)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA or CySEC must keep and disclose a conflicts of interest policy, and must tell a retail client when they deal as principal against that client. QMMFX discloses the principal dealing in the contract, and publishes no conflicts policy.

QMMFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Twelve quiet months start a fee that can end the account

Twelve consecutive months without a trade, a deposit or a withdrawal let QMMFX mark your account Inactive under clause 3.6(a). An annual Inactive Account Fee then runs against any positive balance, in an amount the contract does not state. Once the balance reaches zero, clause 3.6(c) lets QMMFX archive and close the account with no further notice.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

Twelve months without a trade, a deposit or a withdrawal lets QMMFX mark your account Inactive under clause 3.6(a). An annual fee then runs against your balance, and once the balance hits zero clause 3.6(c) lets QMMFX close the account with no further notice.

Why this matters

The fee amount is not in the contract. Clause 3.6(b) says it is specified on the website, and the website does not specify it, so you cannot work out how long a small balance survives.

Exhibit 12WarningHarder than usual

If a Client has not initiated any transactions (defined as placing a trade, closing a trade, making a deposit, or making a withdrawal) for a period of twelve (12) consecutive months, the Company may, at its discretion, classify the Client’s Account as “Inactive”.
Clause 3.6(a) in Client Agreement
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
12 months with no activityQMMFX can classify your account as Inactive.3.6(a)
Once marked InactiveAn annual Inactive Account Fee is charged against any positive balance.3.6(b)
Balance reaches zeroQMMFX can archive and close the account without further notice.3.6(c)

QMMFX LIMITED spans four countries and names no compensation scheme

QMMFX LIMITED holds Anjouan Investment Dealer licence 2023-00197 and registration L15620 in the Union of Comoros, prints a Nicosia address in every footer, contracts under Saint Vincent law and lists a United Arab Emirates phone number. CySEC appears in no document, so the Cyprus address carries no European licence with it. Clause 1.1(a) also binds you to an Order Execution Policy and a Risk Disclosure Notice that QMMFX has never published.

Who you are dealing with2 clauses flagged

Clause 1.1(a) makes an Order Execution Policy and a Risk Disclosure Notice part of your binding agreement. Neither exists on the QMMFX site, which publishes four legal documents in total.

Why this matters

You are agreeing to terms you cannot read. The same gap hits you at the worst moment, because clause 14.1(a) sends a complaint to a Complaint Handling Procedure that is also missing.

Exhibit 18WarningHarder than usual

This Client Agreement, in conjunction with the Client’s completed and submitted Application Form and all schedules, addendums, and ancillary documents referenced herein (including, but not limited to, the Company’s Privacy Policy, Order Execution Policy, Risk Disclosure Notice, and any other policies available on the Company’s official Website)
Clause 1.1(a) in Client Agreement
Read from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 2A five working day complaint deadline runs against a procedure nobody outside QMMFX has ever seen.

QMMFX LIMITED is registered in Anjouan, Comoros, prints a Nicosia address in its footer, contracts under Saint Vincent law and answers a United Arab Emirates phone number. No document names a compensation scheme that would pay you if the firm failed.

Why this matters

The Cyprus address does not mean a Cyprus licence, and CySEC appears in no QMMFX document. If the firm fails, clause 3.5(b) is the only protection described, and it says your money is still at risk if the bank holding it fails.

Exhibit 17NoticeHarder than usual

Register office: Hamchako, Mutsamudu, Autonomous Island of Anjouan, Union Of Comoros
Clause Footer in AML Policy
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC belong to a statutory compensation scheme that pays retail clients up to a set limit if the firm fails. This document set names no scheme of any kind.

QMMFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The licence is sold as Comoros, and the contract is written under the law of a different country.

Said in public, in English

Yes, QMMFX has obtained an official license from Comoros, so you can trade with confidence.

Answer to the home page question, Is QMMFX a licensed and regulated broker?

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

In the contract · clause 15.2(a)

This Agreement shall be governed by and construed in accordance with the laws of Saint Vincent and the Grenadines.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

02

Persian readers are told to trade with peace of mind on a Comoros licence, while the English contract sends them to court in Saint Vincent and the Grenadines.

Said in public, in Persian

بله، QMMFX دارای مجوز رسمی از کوموروس است، بنابراین می‌توانید با خیال راحت معاملات خود را انجام دهید.

Word for word in English: Yes, QMMFX has an official licence from Comoros, so you can carry out your trades with peace of mind.

Persian home page, answer to the question about whether QMMFX is a licensed and regulated broker

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of fa.qmmfx.com

In the contract · clause 15.2(b)

The parties agree to irrevocably submit to the non-exclusive jurisdiction of the Courts of Saint Vincent and the Grenadines for the settlement of any dispute arising from this Agreement.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

03

The Arabic page promises complete confidence in a Comoros licence that the governing law clause puts out of reach.

Said in public, in Arabic

نعم، QMMFX حاصل على ترخيص رسمي من جزر القمر، لذلك يمكنك إجراء معاملاتك بكل ثقة.

Word for word in English: Yes, QMMFX holds an official licence from the Comoros, so you can carry out your transactions with complete confidence.

Arabic home page, answer to the question about whether QMMFX is a licensed and regulated broker

In the contract · clause 15.2(a)

This Agreement shall be governed by and construed in accordance with the laws of Saint Vincent and the Grenadines.

04

No additional costs is promised on the account page, while the contract lets QMMFX add charges at any time without telling you.

Said in public, in English

Commission: None – trade without any additional costs.

Cent account specification on the Account Type page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

In the contract · clause 6.1(b)

The Company may vary such commissions, fees, and charges from time to time, at its discretion, without prior Written Notice. All changes shall apply immediately after they are published on the Company’s Website, and it is the Client’s responsibility to remain informed of such costs.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

05

The account page shows no swap at all, and the contract swaps it for a holding fee whose size the site never states.

Said in public, in English

Swap: None – ideal for swap-free trading.

Cent account specification on the Account Type page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

In the contract · clause 6.3(b)

Such accounts are not subject to daily Swap Charges or Credits. In lieu thereof, an administration fee (or ‘holding fee’) may be charged for positions held open for a specified number of consecutive days, as detailed on the Website.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

06

Direct market access is advertised, and the contract reserves the right to fill your order against QMMFX itself.

Said in public, in English

QMMFX leverages advanced server technology, direct market access, and optimized network infrastructure to guarantee that your orders are processed with unmatched speed.

Fast and Secure Execution service page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

In the contract · clause 1.2(a)(i)

The reception and transmission of orders, or the execution (on its own account as principal-to-principal) of orders, for the Client in designated financial instruments (Transactions).

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

07

Execution at the desired price is promised on one page, and the contract says the displayed price binds nobody.

Said in public, in English

This ensures that your trades are executed at the desired price, minimizing slippage and maximizing potential returns.

Fast and Secure Execution service page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

In the contract · clause 4.1(b)

A price displayed on the platform constitutes an ‘invitation to treat’, not a binding offer to deal at that price. A binding Transaction is formed only when, and if, said Order has been received, accepted, and confirmed by the Company’s server.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

08

Secure authentication is offered as protection for your funds, while the contract makes you liable for trades you never authorised.

Said in public, in English

At QMMFX, we employ robust encryption protocols, secure authentication, and regulatory compliance measures to protect your funds and personal information.

Fast and Secure Execution service page, security paragraph

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

In the contract · clause 3.2(b)

The Client shall be fully and exclusively liable for all Orders, instructions, and transactions given through and under their Access Data, and any such Orders received by the Company shall be deemed as valid and originating from the Client, irrespective of whether such use was authorized by the Client. The Client shall be estopped from claiming any such transaction was unauthorized.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of qmmfx.com

What changed quietly

First reading of QMMFX, so there is no earlier version of this page to compare it against.

  • REMOVEDClause Regional restrictions

    The country restriction notice has gone from the policy pages, and the shorter notice now used elsewhere on the site drops every FATF listed country.

  • REWRITTENClause Footer address

    QMMFX moved its published office address from Dubai to Nicosia, while its registration stayed in Anjouan and its contact number stayed a UAE mobile.

    51,Ledras Street,Office 10A,Phaneromeni Building , 1011 Nicosia, Cyprus

  • REWRITTENClause 12 Verification

    The identity checking rules were cut to one sentence, and the requirement to see original documents in person was dropped.

    Identity verification must be based on reliable, independent sources, such as government-issued documents or passports.

The documents this reading is based on

6 files, all published by QMMFX. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording QMMFX publishes.

How this reading was done

Every clause above was read out of a document QMMFX publishes itself

This reading was published on .

Documents
6 of 6downloaded from the broker's site, and 6 read in full
Pages opened
24pages walked to find those documents, footer links included
Older copies
2earlier versions downloaded
Marketing pages
3public pages set against what the contract says
Languages
AR vs EN vs FAthe language it advertises in, against the language it contracts in
Position measured
2clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

QMMFX LIMITED

You contract with QMMFX LIMITED, registered by Anjouan Corporate Services Ltd in Mutsamudu, Autonomous Island of Anjouan, Union of Comoros, register number L15620, holding Investment Dealer licence 2023-00197. That is the only licence the documents name. The company also prints a Nicosia, Cyprus address in every page footer, but no document claims a Cypriot or EU licence and CySEC is never mentioned. Clause 15.2 of the Client Agreement puts your agreement under the law of Saint Vincent and the Grenadines, a fourth country. The contact number in the footer is a United Arab Emirates mobile, and the July 2025 pages gave a Dubai physical address instead of the Cyprus one. The Privacy Policy calls the company QMMFX LTD while the Client Agreement and AML Policy call it QMMFX LIMITED. No document names any investor compensation scheme.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

QMMFX publishes a real contract, not a page of headings. The Client Agreement runs to 15 numbered sections with its own table of contents, which most Comoros-registered brokers never produce. Clause 3.5(b) admits that keeping your money in a separate account does not fully protect it if that bank fails. Clause 5.3(c) says plainly that a stop out can leave your balance below zero, rather than implying you are covered. QMMFX runs no bonus scheme, so no promotional credit locks your withdrawals. In the PAMM agreement, clause 7.3 blocks a performance fee until an earlier loss is recovered, and clause 8.1 keeps the manager away from your money.

Our copy of the Client Agreement stopped about 5,000 characters short of the end. We read sections 13, 14 and 15 on QMMFX's own client agreement page instead. Every quotation from clauses 13.4, 14.1, 14.2 and 15.2 comes from there. Because that copy was cut short, we do not report how deep any Client Agreement clause sits. QMMFX publishes only four legal documents. There is no fee schedule, no deposit or withdrawal terms, no complaints procedure and no risk disclosure notice. So we could not check the contract's fee clauses against any published price list. Older copies exist only for the AML policy and the privacy policy, both from 9 July 2025. No earlier copy of the Client Agreement or the PAMM agreement exists, so we cannot say when their clauses were written. We read the Persian and Arabic home pages at fa.qmmfx.com and ar.qmmfx.com, but not every page of those sites.

How to check any of this yourself

Every quote above links to the QMMFX file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document QMMFX publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge QMMFX on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 2, 2026.

If you represent QMMFX and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on QMMFX. Whether its licence is real and current is a separate check on the broker profile.

Back to the QMMFX profile