Broker Review

Unauthorised Firm Details

Name: Quotefxtrade.xyz
Website: www.quotefxtrade.xyz

QUOTE FX TRADE LIMITED, accessible via quotefxtrade.xyz, presents itself as an investment and trading platform. It offers several account tiers Test, Basic, Beginner, Standard, and Business with minimum deposits ranging from $500 to $100,000, and no upper deposit limit. The platform claims to offer daily returns of up to 150%, which is highly unrealistic and a major red flag.

During our investigation, we discovered that on December 2, 2024, the Financial Conduct Authority (FCA) issued a warning about QUOTE FX TRADE LIMITED on its official website.

QUOTE FX TRADE LIMITED lists false addresses and registration details on its contact page. Despite aggressively advertising in the United Kingdom, the company is not authorized by the FCA, which is a legal requirement for all financial service providers operating in the UK. This strongly suggests that the platform is functioning as an unauthorized and potentially fraudulent financial entity.

Further investigation revealed that the domain quotefxtrade.xyz was registered on October 11, 2024, for just one year. Notably, the domain registration details are intentionally hidden under privacy protection services. We also received multiple reports of fraudulent activity, and numerous complaints about the company are listed on verified review platforms, reinforcing suspicions of a scam.

Red Flags

🚩 1. Unrealistic Promises of Daily Returns

• Claiming up to 150% in daily returns is not just improbable—it’s financially impossible and a classic sign of a Ponzi or high-yield investment scam.

🚩 2. FCA Warning

• The UK Financial Conduct Authority (FCA) has explicitly warned against this firm, stating:

  “This firm may be providing or promoting financial services or products without our permission… beware of scams.”

• This confirms the company is not authorized to operate in the UK, despite actively targeting UK residents.

🚩 3. False Address & Registration Information

• The company provides fake business addresses and misleading registration data on its website.

• Legitimate financial firms are transparent about their identity and corporate details.

🚩 4. Unlicensed Operation in the UK

• QUOTE FX TRADE LIMITED is heavily advertising in the UK but lacks mandatory FCA authorization.

• Operating without proper licensing is illegal and a strong indicator of fraudulent intent.

🚩 5. Recently Registered Domain

• The domain quotefxtrade.xyz was registered on October 11, 2024, for only one year.

• Scams often use short-term domains to disappear quickly after defrauding users.

🚩 Domain Privacy Protection

• The domain is registered with privacy shielding, hiding the owner’s identity.

• While not inherently suspicious, fraudulent platforms often use this to avoid accountability.

🚩 User Complaints and Fraud Reports

• There are multiple reports of scam activity associated with this platform.

• Verified review websites include numerous complaints alleging withdrawal issues, fake profits, and account lockouts.

• 🚩 Aggressive Marketing Tactics

• The company is aggressively promoting itself through ads, often targeting inexperienced investors.

• This is typical of scams trying to lure victims quickly before disappearing.

These red flags, especially when combined, strongly suggest that QUOTE FX TRADE LIMITED is not a legitimate investment platform and should be avoided at all costs.