Quickmatrixfx Review – Truly Quick Way To Lose Your Money

This investment firm is operating without any legal backing for some time now. They never disclose anything about their parent company, corporate address, or other crucial information. Visiting their site, it became clear that its only purpose is to deceive potential clients with murky information.

See the remainder of our Quickmatrixfx review to learn more about online investment fraud.

Completely Illegal Firm

The website we visited, quickmatrixfx.com, is a front for a fraudulent cryptocurrency based investment firm. The company claims to be based in Southampton, NY. While the little town is not a known financial center, it is still in the US. Thus, it falls under the jurisdiction of NFA and CFTC when it comes to financial regulation.

This prompted us to visit the NFA database, which revealed zero results about Quickmatrixfx. Going further down the rabbit hole, we found a mention of another firm, Cryptoplux in the Terms and Conditions. This one is allegedly bound to English legislation, but it’s nowhere to be found in the FCA database.

After checking the databases of other prominent regulatory bodies, including FINMA, FSMA, BaFIN, CySEC, ASIC and New SRO it became clear that Quickmatrixfx is operating without any license. The fraudsters behind this so-called investment firm abuse the opacity of cryptocurrency investment to steal the clients’ money.

Thousands Defrauded

The problematic website was first put online in December 2022, as you can see from our WhoIs search. Many of the victims live in these nations:

• South Africa
• Ecuador
• Nigeria
• Sri Lanka

This scheme uses one of the most widespread methods of attracting victims, one that is also used by MaxProInvest. The company is a so-called boiler room, and it employs boiler room agents to persuade potential investors to deposit money.

The common approach by these agents is that they pretend to be experts in the field of finance, on the verge of a great financial breakthrough. To facilitate this, they need investors, which in return get a lion’s share of profits.

The agents never openly talk about by which means the firm allegedly generates income. In order to rob the clients blind, they use deception, unsolicited phone calls, and even threats and extortion. Funds that reach the company are as good as lost, and your only hope of recovery lies with professional chargeback experts.

Hidden Costs

These sorts of fake companies never talk about trading costs. StockCore is another one of them, and the fraud basically revolves around unknown hidden fees that greatly undermine the clients’ profits.

We can see the same story with the entity we are reviewing now, as they don’t say anything about deposit, withdrawal, transaction or any other fees. We managed to calculate that the deposit fee is 1% for crypto payments.

Remember, regulated investment firms are obligated by law to be transparent when it comes to fees, commission, or any other charges the clients would incur while trading.

Misleading Trading Features

It’s unclear which kind of service this company provides. The information that is given on the website differs greatly from what you will find in the client dashboard.

This is not the only issue we’ve had when it comes to testing the actual investment environment. All along the way we were met with technical hurdles, such as defunct website features, laggy platform, and buggy website design.

Ramshackle Trading Platform

The Quickmatrixfx platform is an insultingly simple web trader that has none of the necessary functions to facilitate effective contract trading.

The clients may use the platform to view any Tradingview chart, and allegedly buy or sell any asset. Any semblance of trading is, of course, completely fictitious.

Purchasing investment plans is done through a single page in the client dashboard. Clients can’t track the progress of their investment with the available tools.

Trading Instruments Overview

The firm allows for some type of contract trading, and allegedly provides any trading instrument currently available on the globe. Of course, they don’t have a necessary license, so it’s all just a sham.

Here’s a few examples:

• Forex (EUR/USd, GPB/CHF, USD/JPY, AUD/NZD)
• Cryptocurrencies (BTC/USDT, ETH/USDT, XRP/USDT, ADA/USDT)
• Stocks (Visa, Boeing, Disney, Pfizer)
• Futures (Commodities Futures, Crypto Futures, Stocks Futures, Indices Futures…)
• CFDs (Forex CFDs, Indices CFDs, Stocks CFDs, Commodities CFDs…)
• Funds (XLP, MSOS, OIH, AGNC)
• Bonds (US10Y, CA10Y, JP02Y, EU30Y)
• Economy (SP500, EFFR, USUR, RUM2)
• Indices (SPX, NAS100, DJI, GER30)

Confusing Investment Plans

The investment plans you’ll see when you create a Quickmatrixfx login are completely different from the ones advertised on the website. It’s not just the names, either, as these investment plans differ in ROI, required deposits and available base currencies.

Advertised plans:

• Gold- BTC 0.014200 for 1% ROI
• Premium- BTC 0.280000 for 1% ROI
• Bronze- BTC 0.830000 for 2% ROI
• Titanium- BTC 1.380000 for 3% ROI
• Diamond- BTC 2.770000 for 4% ROI

Available plans:

• Starter Plan- $300 for 5% ROI daily
• Silver Plan- $2,000 for 5% ROI daily
• Platinum Plan- $5,000 for 5% ROI daily
• Ultimate Plan- $15,000 for 5% ROI daily

The client dashboard contains a “Trading Demo” account, which doesn’t work. The website, however, makes no mention of this.

Payouts Require An Intermediary

Our “Seamless Experience” was greatly sullied by the fact that there are no automated payment processing features. In order to deposit to the platform, you’ll have to jump through several hoops, and deal with the assigned boiler room agent.

The Quickmatrixfx withdrawal is much the same, and from what we’ve seen so far, it’s likely that the swindlers will never allow a payout. If you wish to start legal action, contact our professionals through the live chat.

Unreachable Customer Service

Although a live chat function is implemented on the site, nobody will read or reply to your messages. Your other options are to call a phone line which no one answers, or send an email to an address nobody checks. We weren’t surprised one bit, with the majority of these illicit firms all communication is one-sided.

Pull Your Money Out While You Still Can!

Nothing we found at Quickmatrixfx gives us any confidence. They don’t have a license, and are not supervised by any financial regulators. The website and trading platform are buggy, and lack many necessary features. That said, these miscreants have managed to defraud thousands of investors.

Don’t wait for the fraudsters to run away with your cash! Book a free consultation with our recovery experts today, and start your chargeback process!

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