QuoMarkets Review: Even Offshore Authorities Distrust Them

Having a company shove a legal disclaimer in your face as soon as you visit their website is never a good sign. The more alarming issue here is that the firm in question is trying to distance itself from what we know to be fraudulent solicitation strategies.

What makes this entity so dangerous, and why is the company so desperate to appear innocent? Find out more in our QuoMarkets review.

 Statements vs. Reality

There are many legal entities involved, and each has an unclear regulatory status—we already have a hunch about how much of a headache this investigation is going to be.

The QuoMarkets broker claims to operate from several locations and through multiple entities which make up a shady group. These separate branches are TQBG Ltd (Cyprus), Trade Quo Global Ltd (tradequo.com – FSA licensed), TRADEQUOMARKETS LTD (Dominica) and Quo Markets LLC (SVGFSA registered).

The first problem with these claims is that the affiliation between the quomarkets.com domain and these firms is unverifiable. Some of the firms operate through other domains and the SVG regulator doesn’t supervise brokerage activities at all.

Red Flags From Regulators

Public warnings further undermine the firm’s claims about operating legitimately through other branches. First, FSA (Seychelles) has confirmed that the domain in question is entirely unlicensed and operates without legal supervision.

The warning was quickly reposted by FI (Sweden), which means that the company tries to offer services without permits to Swedish investors. Lastly, CySEC has also blacklisted this portal at the end of 2024, confirming that the unscrupulous domain follows no legal directives. Offshore entities, even less strictly regulated like EnterTrade prop firm, shouldn’t be easily trusted.

Manipulated Review Scores

Nearly all of the QuoMarkets reviews we found on TrustPilot were very positive. As many as 89% of all comments are 5-star ratings, which struck us as odd. After reading a few of them, we got the gist of what was going on. It seems that the firm incentivises its users to post positive ratings, and even though the customers are actually complaining, they are leaving 5-stars.

One of the clients even says that withdrawing money is difficult with numerous hindrances, but still left 4-stars. Other positive reviews focus on how good the customer support is, which tells us nothing about the broker.

Worldwide Operations

The quomarkets.com domain was first registered in late 2022. According to the WhoIs information, the lease is extended all the way up to 2033. This means that the con artists are planning to stick around for a while.

The main target group for the scheme is traders from these nations:

• Germany
• United Kingdom
• Italy
• Spain

Both unregulated and loosely supervised platforms like TradeQuo and this one aren’t able to provide world-class trading conditions, so it’s better to choose properly regulated solutions.

How Illegal Firms Deceive Traders

Online con schemes usually rely on boiler rooms and viral advertising to reach out to new clients. In this case, we can see that the firm operates numerous social network profiles, including ones on Facebook, X and LinkedIn. These may not have much traction, but the group does gain some exposure. QuoMarkets Reddit board is not exactly a hive of unending activity.

However, this broker uses various online scam promoters to cover for the low number of followers. These are mostly found on Instagram and Threads, where they peddle the ideas of quick riches and opulent lifestyles.

Of course, it’s all a ruse to get you hooked. Ponzi schemes are known to release some payouts at first, but never the entire invested amount. Don’t turn this into a total loss – contact our legal team to start a recovery procedure.

Trading Platforms – MT4, MT5

Anyone who has at least some experience with online trading must have used these premium apps at some point in their trading journey. Fast, efficient, and feature-rich, MetaTrader platforms are among the most loved and preferred software in the industry today. Whether you’re a beginner investor or someone who has decades of experience, you’ll find yourself trading on this terminal. 

The website advertises desktop and mobile downloads for both apps, but we tried to test the QuoMarkets MT5 Demo version and failed. The server repeatedly asked for the right credentials while the ones we used didn’t work.

Accessing the User Panel

The process of creating a new QuoMarkets login is quick and does not include any particularly difficult conditions. However, account funding requires you to complete the KYC prior to any such action. 

This, naturally, includes sharing your personal information and payment details, so you can understand how risky that is. Illicit crypto operators will then be able to access your funds unauthorizedly and misappropriate your assets easily.

Here’s the account overview:

• Raw
• Standard
• Zero
• Limitless

Deposit requirements for unlocking each package were not revealed, but it appears that users are allowed to open trades with as little as $5.

Risky Trading Circumstances

One QuoMarkets trading parameter that immediately caught our attention is the huge exposure. The leverage on this terminal is capped at 1:1000, although you can choose to start off lower.

Depending on the account type chosen, trading commission can vary from $0 to $4 per side, while the spreads vary from 0.0 pips to 0.6 pips in the beginning.

Other significant commissions you’ll be obligated to pay are the withdrawal fee of at least $30 for wire transfers. 

Can You Withdraw?

Clients can issue withdrawal requests at any time. There are several ways to use in order to pull your funds out:

• Cards
• Wire
• E-wallets
• Cryptocurrencies

Bear in mind, however, that the company has a strict policy and if you’ve also accepted any cash rewards, there’s also the QuoMarkets bonus withdrawal conditions. The firm isn’t entirely explicit when it comes to payouts of the bonus amounts. Legal documents state that they reserve the right to change the conditions and block any withdrawals at any time, so please practice caution.

How to Recover Lost Funds

Despite the misleading information on QuoMarkets’ Trustpilot page, we’d advise all our readers to choose a better regulated platform to invest with. This shady entity displays fraudulent intentions and is known to authorities for operating without licenses.

If you happen to have issues with withdrawals, we advise you to immediately reach out to our chat agents. You can book a free consultation with our recovery team and we’ll do whatever is in our power to help you issue a chargeback.

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