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FX Quote 247 Broker Review

FX Quote 247 appears to be another Bulgarian boiler room, allegedly linked to another fraudulent business, FX-Capitalize. However, several regulators revealed it, and we gathered all available information.

Because the company’s website is temporarily down, we feel that all people who have been duped should benefit from the information in our review.

Broker status: Unregulated
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: FCA, CNMV
Owned by: N/A
Headquarters Country: Bulgaria
Foundation year: N/A
Supported Platforms: Web trader
Minimum Deposit: 250 EUR
Cryptocurrencies: Yes
Types of Assets: FX, commodities, indices, shares, cryptocurrencies
Maximum Leverage: 1:500
Free Demo Account: No
Accepts US clients: No

Regulations and Security

According to FX Quote 247, it is owned by FX-Quote247 and has entities in South Africa, Mauritius, the United Kingdom, and Saint Vincent and the Grenadines. It also promises to follow FSCA and FSC guidelines. We discovered that both the owner and the regulation are fictitious after checking these two registries, making FXQuote247 another another unscrupulous brokerage.

Be wary of the FX Quote 247 trading scam, and please notify us if you come across anything unlawful. When looking for an online trading broker, look for one with a Tier 1 license, since these are required to maintain a compensation fund for reimbursement.

Warnings From Financial Regulators

The FCA, the UK regulator, has exposed FX Quote 247. They were the first to openly warn people and proclaim that traders were dealing with unauthorized Bulgarian brokerage firms and were not entitled to any compensation fund.

Following this warning, we received one from the Spanish CNMV, which stated the same thing.

Fund Withdrawal Issues

Withdrawal problems are nothing new for FX Quote 247. Because the broker is not regulated, it feels free to deceive clients, take their money, and then disappear. Clients cannot access their cash or contact their account managers or anybody in control because the website recently went down.

Don’t get too worked up if anything similar has occurred to you. If you used your credit card, you have the option to register a dispute and seek a chargeback. Remember that chargebacks are allowed up to 540 days after a fraudulent purchase occurs, so act soon.

Fake FX Quote 247 Rewards

FXQuote247, like many others, boasted of being the greatest Forex broker, the most secure trading service provider, and so on. When you witness such accomplishments, consider how an uncontrolled corporation could attain them. The answer, of course, is that they did not.

Because these companies never indicate who the supposed award presenter is or where to seek for these medals, it’s the same as posting a bogus regulation number.

Traders About FX Quote 247 Scam

From the perspective of traders, FXQuote247 is a sham company that refuses to execute withdrawals. According to all of the evaluations we’ve seen, none of the investors were able to recover their monies, both the initial investment and the profit.

As a result, you should be informed that FX Quote 247 is an illegal scam, and any offer you receive from it might be hazardous. Also, keep in mind that you are not eligible for a compensation fund.

Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.[/vc_column_text][/vc_column][/vc_row]