IQFX markets itself as a trustworthy trading platform and states that it is a regulated broker that serves traders all over the world. A closer look, though, raises a lot of red flags that point to the contrary. The platform makes some of the most ludicrous assertions like the claim that it is registered in Saint Lucia yet has a South African license, which calls into question the platform’s credibility.
Basic Details for IQFX
Website: https://iqfx.live/
Website Availability: Yes
Official Address:
- Ground Floor, The Sotheby Building, Rodney Village, Gros-Islet LC01 101. Saint Lucia with registration number 2023-00396
- Office No. 01, Zainal Baqer Mohebi Building, Al Suq Al Kabeer, Bur Dubai. 122002 Dubai
Regulation: Unregulated
Warned By: Not Recommended By Review Website Like Fraud Complaints
Domain Status
- Domain Name: fxotp.com
- Registry Domain ID: 2788517351_DOMAIN_COM-VRSN
- Registrar WHOIS Server: whois.godaddy.com
- Registrar URL: https://www.godaddy.com
- Updated Date: 2023-06-09T06:42:20Z
- Creation Date: 2023-06-09T06:42:20Z
- Registrar Registration Expiration Date: 2026-06-09T06:42:20Z
Contradictory Licensing Information
IQFX boldly states on its website that it has a license from South Africa, which implies that it should be regulated by the South African Financial Sector Conduct Authority (FSCA). However, the platform’s registration is in Saint Lucia, a Caribbean country with no authority to regulate foreign exchange markets. This contradiction alone highlights the potential for fraud and should be a major warning sign for any investor considering this platform.
Unregulated Operations
On its website, IQFX proudly displays its South African license, suggesting that the Financial Sector Conduct Authority (FSCA) of that country should oversee it. Nonetheless, Saint Lucia, a Caribbean nation without the power to control foreign exchange markets, is where the platform is registered. For any investor contemplating this platform, this discrepancy alone should be a red flag due to the possibility of fraud.
False Claims of Reliability
On its website, IQFX proudly displays its South African license, suggesting that the Financial Sector Conduct Authority (FSCA) of that country should oversee it. Nonetheless, Saint Lucia, a Caribbean nation without the power to control foreign exchange markets, is where the platform is registered. For any investor contemplating this platform, this discrepancy alone should be a red flag due to the possibility of fraud.
Why Investors Should Stay Away
When using services such as IQFX, investors ought to proceed with utmost caution. The absence of regulation and the exaggerated statements regarding licenses provide compelling evidence that IQFX may be involved in fraudulent activity. Avoiding these platforms is essential, as is only trading with brokers who are duly licensed by established agencies.
IQFX Review – Conclusion
Based on many factors explained above we have finally concluded that IQFX is a fraudulent broker. Do extensive research on any site before investing.
Be aware of schemes like Forex Trading Deceptions, Cryptocurrency Cons, Internet Dating Scams or Romance Fraud, Pump and Dump Tactics, Ponzi Schemes, Investment Deceptions, Fake Trading Platforms, Phishing Attacks, Robo-Advisors Deceptions, and Binary Options Deceptions.
If you have already fallen victim to IQFX fraud, take quick steps to recover your money. While the process can be tough, patience and completing the proper steps can improve your chances of receiving your money back from IQFX.
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Note: The IQFX review is influenced by some existing reviews online and we have created an original review based on known facts. We are not responsible for any legal actions taken by any entity favoring IQFX company.