Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighHolds a real, current Anjouan offshore licence (L15620 / QFX) with no compensation scheme and little supervision, and no licence where it presents offices.
Identity & transparency
6/10 · HighThe licensed entity matches the register, but the Cyprus address has no company behind it, the owners are unnamed and the AML policy cites a different licence number.
Withdrawals & conduct
7/10 · HighAbout ten clients on three sites since 2022 report refused or ignored withdrawals, partly offset by positive reports and one refund.
Reputation
6/10 · HighNegative on English-language review sites and mixed on Persian ones, with some praise that reads as promotional; no regulator warning.
Website claims
6/10 · HighPresents a weak offshore licence as a reason to 'trade with confidence', quotes mismatched licence numbers and uses another jurisdiction's governing law.
Operational history
5/10 · ModerateAbout four and a half years on one domain, but the company changed from a struck-off UK entity to an Anjouan one and the client portal moved in 2026.
Who they are
A quick desk file on the company behind the brand.
- Brand: QMMFX, at qmmfx.com, with Persian (fa.qmmfx.com) and Arabic (ar.qmmfx.com) versions and a client portal at qmpanel.com.
- Legal entity: Qmmfx Limited, company number 15620, incorporated in Anjouan, Union of the Comoros, on 22 January 2024.
- Registered: Hamchako, Mutsamudu, Anjouan. The site also gives a 'physical address' at 51 Ledras Street, Office 10A, Phaneromeni Building, Nicosia, Cyprus, but no QMMFX company is registered in Cyprus. Every phone number it lists is in the UAE.
- Website: qmmfx.com, registered in December 2021 and trading by April 2022.
- Only licence: Anjouan Offshore Finance Authority licence L15620 / QFX, status Active, licence end date 22 January 2027.
- Offers: forex, stocks, metals and crypto on MetaTrader 5; five account types from a 1 dollar minimum; leverage up to 1:500; PAMM and copy trading. Deposits and withdrawals are in crypto; Persian review sites also report rial and cash payments.
- Not accepted: residents of the UAE, the United States and North Korea, according to its risk disclosure.
- Age claim: no founding year on its site. A support reply on a review site in 2025 claimed six years of history; the earliest record we found is the December 2021 domain.
- Earlier company: QMMFX LIMITED, UK company 13995062, incorporated in March 2022 and struck off in May 2024 after filing no accounts.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Anjouan Offshore Finance Authority (Autonomous Island of Anjouan, Union of the Comoros)
Why we reached this verdict
How the evidence adds up.
We rate QMMFX high risk at 63%. A weak offshore licence sits alongside four years of clients saying their profits or withdrawals were not paid. We did not find the harder evidence that would make it a confirmed scam: no regulator warning, no borrowed licence and no demand for fees to release money.
- The licence is real but weak. The Anjouan Offshore Finance Authority lists Qmmfx Limited under L15620 / QFX, active until 22 January 2027. Anjouan has no compensation scheme and little oversight of client money, yet the site's FAQ tells visitors they can 'trade with confidence'. QMMFX does not link to its register entry.
- The withdrawal complaints form a pattern. About ten different clients on Forex Peace Army, iranbroker.net and kodambroker.com, from September 2022 to October 2026, describe withdrawals ignored for weeks or months, profits refused, or accounts blocked after profitable trading. One client says she grew a 300 dollar deposit to 2,000 dollars and was refused a withdrawal. Another says 820 dollars left his account when he followed the broker's own PAMM withdrawal guide. The complaints are spread over four years rather than one spike, and about ten other users report good experiences.
- The paperwork does not line up. The AML policy quotes 'Investment Dealer license 2023-00197', which is not the number on the Anjouan register. The client agreement is governed by Saint Vincent and the Grenadines law. The Cyprus address has no Cyprus company behind it, and QMMFX is not on CySEC's list of Cypriot investment firms.
- The identity keeps changing. In April 2022 the site was 'Operated By QmmFx ltd'. That matches a UK company of the same name, incorporated three weeks earlier at a London mail-forwarding address and struck off in May 2024. In March 2024 the Persian site said QMMFX was registered in the UAE. It now names an Anjouan company and a Cyprus office, and in 2026 it moved clients to a new portal domain.
- It operates outside its licence. Its phones are UAE numbers, and a person replying as QMMFX support says the broker has offices in Shiraz, Tehran and five other Iranian cities. An Anjouan licence gives no permission to run a brokerage from those places, and QMMFX publishes no licence from any of them.
- How the figure is built. The six scores below are averaged, with regulation, identity and withdrawals counted double: (7x2 + 6x2 + 7x2 + 6 + 6 + 5) / 9 = 6.3. The track record is about four and a half years, based on the 2021 domain and the 2022 UK company. The current Anjouan company is younger, dating from January 2024.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Anjouan Offshore Finance Authority register lists Qmmfx Limited, company number 15620, licence L15620 / QFX, date of incorporation 22 January 2024, licence end date 22 January 2027, status Active (page dated 8 November 2026). The number matches the one QMMFX prints on its contact page.
E2The site's FAQ answers 'Is QMMFX a licensed and regulated broker?' with 'Yes, QMMFX has obtained an official license from Comoros, so you can trade with confidence', presenting a low-tier offshore licence as a reason for confidence. The site does not link to the register entry.
E3The AML policy says QMMFX LIMITED holds 'an Investment Dealer license 2023-00197' and refers to a 'Financial Services Commission of Anjouan'. The Anjouan register lists the company under L15620 / QFX, so the number in the policy does not match the register.
ModerateQMMFX AML policyE4The client agreement is governed by the laws of Saint Vincent and the Grenadines, not Anjouan where the company is incorporated. It also lets the company confiscate any profits it decides, 'in its sole determination', came from prohibited trading such as arbitrage, robots or bonus abuse.
ModerateQMMFX client agreementE5The contact page gives a physical address at 51 Ledras Street, Office 10A, Phaneromeni Building, Nicosia, Cyprus, but lists only UAE phone numbers: two UAE mobiles and a Dubai landline. The risk disclosure says QMMFX does not serve UAE residents.
ModerateQMMFX contact pageE6A search of the Cyprus Registrar of Companies for names beginning QMM returns only QMM TRADING LTD, at the name-application stage. No QMMFX company is registered in Cyprus to back the Nicosia address.
ModerateCyprus Registrar of CompaniesE7CySEC's full A to Z list of Cypriot investment firms contains no QMMFX or QMM entry. QMMFX does not claim a CySEC licence, but it presents a Cyprus office.
E8The FCA Financial Services Register returns no firm, authorised or unauthorised, for qmmfx or QMM, so no FCA warning names QMMFX.
E9IOSCO's I-SCAN, which collects warnings from member regulators, returns no warning for qmmfx or qmm.
WeakIOSCO I-SCANE10qmmfx.com was registered on 10 December 2021 through OnlineNIC and is renewed to 2030.
E11The client portal domain qmpanel.com was registered on 15 July 2026. In October 2026 a QMMFX reply told a client who had waited six months for a withdrawal that he had to register on the new panel and ask for his account to be transferred.
E12The April 2022 archived home page shows a live broker site with the footer 'Operated By QmmFx ltd' and a promise of 'Instant automated withdrawals'. The March 2023 copy lists a Gmail address with UAE and Iranian phone numbers.
E13In March 2024 the Persian home page described 'QMMFX Limited, registered in the United Arab Emirates'. The site now names an Anjouan company and a Cyprus address, and publishes no UAE registration or licence.
E14QMMFX LIMITED, UK company 13995062, was incorporated on 22 March 2022 at 20-22 Wenlock Road, London, a mass company-registration address. It filed no accounts and was dissolved by compulsory strike-off on 14 May 2024.
ModerateUK Companies HouseE15The UK company's directors were Abdollah Hassanzadeh, an Iranian national, and Muzammal Hussain, a Pakistani national, both resident in the UAE. Persian-speaking clients name a Hassanzadeh, and an owner with the initials A.H., as the person behind QMMFX.
ModerateUK Companies House officers listE16An archived July 2024 copy of the Forex Peace Army page for QMMFX.com shows two one-star reviews, both about withdrawals. An Algerian client in September 2022 says a withdrawal went unanswered for weeks after a profit; a German client in April 2024 says repeated requests were rejected without reason. The listing gives a Dubai address, a Gmail contact and USDT-only payments.
ModerateForex Peace Army (archived copy)E17iranbroker.net shows 44 comments from 23 users. At least seven different clients, from August 2024 to October 2026, say profits or withdrawals were refused or ignored, or their account was blocked after profitable trading. One says she grew a 300 dollar deposit to 2,000 dollars and was refused withdrawals; another waited six months. About eight users report good experiences, and a QMMFX representative replies, in one case confirming a 410 dollar refund.
E18A person replying as QMMFX support on iranbroker.net in August 2025 said the broker has technical and support offices in Shiraz, Tehran, Isfahan, Mashhad, Kashan, Tabriz and Bandar Abbas, and claimed six years of history. QMMFX's only licence is from Anjouan.
E19kodambroker.com carries five comments. One client says a withdrawal requested on 17 December 2025 was never paid despite months of excuses, and another calls QMMFX a market maker that does not connect accounts to the market. Two report good results with copy trading. The page also notes the broker earlier said it had offices in the UK and the UAE.
Moderatekodambroker.com user reviewsE20BrokersView ties its QMMFX page to qmmfx.com and names QMMFX Limited of the Comoros. It carries an April 2024 complaint that withdrawal is not possible and the broker does not respond, which matches the German client on Forex Peace Army and is counted once.
WeakBrokersViewE21QMMFX's Telegram account @qmmfx describes itself in Persian as the forex brokerage of QMMFX.COM and links to www.qmmfx.com, consistent with a focus on Persian-speaking clients.
WeakTelegram @qmmfx
The other side
The strongest case in this broker’s favour.
There is a fair case that QMMFX is an aggressive offshore broker rather than an operation built to keep deposits.
- Its licence is genuine and current, and the number on its site matches the Anjouan register.
- No regulator warning names it. The FCA register has no entry for QMMFX, and IOSCO's I-SCAN lists no alert.
- About ten users report good experiences. One reported a fast withdrawal in February 2026, and another said in 2024 that he had made tether and rial withdrawals for two years.
- QMMFX answers complaints in public and refunded 410 dollars to one client whose PAMM withdrawal went wrong.
- Many complaints turn on trading rules, such as bans on trading robots or very short trades. The client agreement discloses those rules, and a strict rulebook is not the same as keeping deposits.
- The operation has kept the same domain since 2021 and one of its current phone numbers since at least March 2023, which short-lived scam sites rarely do.
What would change this
What we would need to see to revise the verdict.
The rating would move if any of these appeared.
- Lower risk: a licence from a recognised regulator covering where QMMFX actually operates, such as CySEC for the Cyprus office or a UAE licence for its Dubai base.
- Lower risk: named owners and directors, legal documents that agree with the Anjouan register, and an independent audit of client money.
- Lower risk: withdrawal complaints resolved in public over the coming months, with no new reports of accounts blocked after profitable trading.
- Higher risk: a regulator warning naming qmmfx.com or qmpanel.com.
- Higher risk: credible reports of a fee, tax or extra deposit demanded before a withdrawal is released.
- Higher risk: the Anjouan licence lapsing after 22 January 2027 while QMMFX still advertises it, or a wave of withdrawal refusals tied to the move to the new client portal.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Anjouan Offshore Finance Authority: Qmmfx Limited
Licence L15620 / QFX, its status and the licence end date
QMMFX contact and registration details
Where QMMFX lists its Anjouan register number, Nicosia address and UAE phone numbers
QMMFX AML policy
Quotes licence 2023-00197, which is not the number on the Anjouan register
QMMFX client agreement
Saint Vincent and the Grenadines governing law and the profit-forfeiture rules
UK Companies House: QMMFX LIMITED (13995062)
Earlier UK company of the same name, struck off in May 2024
FCA register search: qmmfx
No authorised or unauthorised firm under this name
IOSCO I-SCAN alerts: qmmfx
No regulator warnings for this name
Frequently asked questions
Quick answers about this broker’s safety.
Is QMMFX a scam?
We rate QMMFX high risk rather than a confirmed scam. It holds a real but weak offshore licence from Anjouan, and since 2022 about ten clients on three review sites have said profits or withdrawals were refused or ignored. We found no regulator warning and no report of fees demanded to release money.
Is QMMFX a fraud?
No regulator or court has found that QMMFX committed fraud, and no warning list we searched names it. We do assess the risk to client money as high. The reasons are a long-running pattern of withdrawal complaints, a licence that gives clients very little protection, and legal documents that contradict each other.
Is QMMFX regulated?
Only offshore. The Anjouan Offshore Finance Authority lists Qmmfx Limited under licence L15620 / QFX, active until 22 January 2027. QMMFX publishes no licence from Cyprus, the UAE or any other country where it presents an office.
What is the Anjouan licence worth?
Very little for a client. Anjouan is an autonomous island of the Comoros that licenses offshore brokers at low cost, with little supervision of how client money is kept and no compensation fund. The licence confirms the company exists and is licensed there; it does not make your deposit safe.
Can I withdraw my money from QMMFX?
Some clients report quick withdrawals, including in February 2026. Others, from 2022 to October 2026, say withdrawals were ignored for weeks or months, or that profits were refused after the broker said they broke a trading rule. Test a small withdrawal before you deposit more.
Is my money safe with QMMFX?
Not in any protected sense. The client agreement says funds are kept in segregated accounts, but no meaningful regulator checks that, and most deposits are in crypto. The agreement also lets the company confiscate profits, at its own discretion, if it decides you traded in a prohibited way.
Who owns QMMFX?
The site does not name its owners or directors. The licensed company is Qmmfx Limited in Anjouan. An earlier UK company of the same name, struck off in 2024, had two UAE-resident directors, Abdollah Hassanzadeh and Muzammal Hussain. Clients on Persian review sites name a Mr Hassanzadeh as the person behind the broker.
How old is QMMFX?
The domain qmmfx.com was registered in December 2021 and the site was trading by April 2022, so the operation is about four and a half years old. The current Anjouan company dates only from January 2024. A support reply on a review site in 2025 claimed six years of history, which the records do not support.
Where is QMMFX based?
Its contracting company is incorporated in Anjouan, Comoros. The site shows an address in Nicosia, Cyprus, but no QMMFX company is registered in Cyprus. All its phone numbers are in the UAE, and a person replying as QMMFX support has said it runs offices in several Iranian cities.
Is QMMFX a clone of another broker?
No. We found no sign that QMMFX copies another firm's name or licence. The Anjouan licence number on its site matches the register entry for Qmmfx Limited.
Does the FCA have a warning about QMMFX?
No. The FCA's Financial Services Register returns no firm under QMMFX, authorised or unauthorised, and IOSCO's international alert network lists no warning. If you read elsewhere that the FCA has warned about QMMFX, the FCA's own register does not show it.
What should I do if QMMFX refuses my withdrawal?
Keep every record: statements, chats, ticket numbers and the transaction hash of any crypto transfer. Complain in writing to QMMFX, then to the Anjouan Offshore Finance Authority through the complaint form on its register page. Never pay a fee to release funds, and ignore recovery services that ask for money upfront.
What should I check before depositing with QMMFX?
Open the Anjouan register entry and confirm the licence end date of 22 January 2027. Read the client agreement's sections on prohibited trading and profit forfeiture, and the rules for PAMM and copy accounts. Start with a small deposit and withdraw it before committing more.
What we recommend
The practical takeaway from everything above.
If you are considering QMMFX, assume your money has almost no regulatory protection.
- Check the Anjouan register entry yourself and note the licence end date of 22 January 2027.
- Read the client agreement sections on prohibited trading and profit forfeiture before you trade, especially if you use robots, scalping or news trading.
- Deposit a small amount first and withdraw it in full before adding more.
- Be careful with PAMM and copy accounts the broker suggests. Ask in writing how disconnecting and withdrawing work before you join one.
- Keep statements, chat logs, ticket numbers and the transaction hash of every crypto transfer.
- If a withdrawal is refused, complain in writing to QMMFX, then to the Anjouan Offshore Finance Authority, whose register page has a complaint form.
- Never pay a fee, tax or deposit to release a withdrawal, and avoid recovery services that ask for money upfront.
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 November 8, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
What traders say about QMMFX
Comments on QMMFX are posted on its profile
Nobody has commented on QMMFX yet. If you have traded with them, your experience helps the next reader decide.
Write the first comment