Quotex.market Review – Quotex Market is a Scam! CONSOB Warning!

Quotex.market Review – Quotex Market is a Scam! CONSOB Warning!

Caution! Quotex.market is an offshore company! Your funds may be at risk.

 

Quotex.market Key Features

🔴 Quotex.market is is operated by a company officially exposed as a scam. Avoid!

🔴 Quotex.market has many negative customers reviews. A red flag!

🔴 Quotex.market is registered offshore, and it's not transparent. A red flag!

🔴 Quotex.market creates unrealistic expectations. A red flag!

Quotex.market Products and Services

Quotex.market is a shady brokerage offering risky and fraudulent services. As seen from above, Quotex.market advertises Binary Options trading – customers should simply guess whether the price will go up or down. Binary trading was prohibited in pretty much all jurisdictions with sufficient Forex regulations because the so-called instruments were found to be prone to fraud and price manipulation. Currently, customers can trade these instruments on US licensed exchanges only. It's fraud if a broker offer Binaries, and Quotex.market makes no exception! Also, note that Quotex.market deliberately creates a false sense of security and suggests risk-free trading, which is a major red flag nonetheless!

Scams involve investments with ultra-high ROIs, get-rich-quick schemes, or guaranteed profits. Always be wary of investment possibilities that offer a large return with little or no risk — if it seems too good to be true, it most likely is, so that's potentially a scam. Also, note that during volatile times, any investment that regularly increases month after month—or that produces astonishingly stable returns independent of market conditions—should raise questions. Even low-risk investments are not entirely secure. Therefore, every time you see promises for risk-free guaranteed profits, you should remain sceptical because these people aim to create a false sense of security. Beware!

Quotex.market Company and Regulation

Company:Maxbit LLC
Country:St. Vincent and the Grenadines
Regulation:None
Warnings:CONSOB Italy

Quotex.market is a brand of Maxbit LLC – an offshore company registered in St. Vincent and the Grenadines. The jurisdiction is known to allow the creation of business entities with hidden ownership, and on top of it all, there are no Forex regulations. Simply put, Quotex.market is a risky broker as it's not monitored while working, which is more than enough for you to avoid it. What's more, Quotex.market also happens to be a brand of an exposed scam – the screenshot below shows the warning issued by the Italian regulator CONSOB!

Almost all regulators frequently update their warning lists with shady business entities selling financial products and services without authorization. In other words, all these companies are breaching financial rules and regulations; therefore, they are unsafe and, most usually, scams. Needless to say, you should avoid any company with a warning on its name.

The US regulators are no exception. For example, SEC has its PAUSE list, including business entities falsely claiming to be registered, licensed, or located in the States. The PAUSE Program also lists impersonators, fictitious regulators, governmental agencies, or international organizations- scams, in other words. Additionally, CFTC maintains a RED list (Registration Deficient List) containing names of unauthorized foreign entities that appear to be acting in a way that requires registration with the CFTC. However, the RED list inclusion doesn't necessarily mean that the particular entity has been caught in violation, but you'd better remain cautious.

The bottom line is that you should avoid any investment scheme with a warning on its name, and generally, any firm that's not regulated but offers financial services.

Quotex.market Address and Contacts

Address:First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and Grenadines.
Phone number:None
E-mail:None

Quotex.market's address doesn't tell us anything in particular. As already mentioned, SVG is a shady offshore jurisdiction, so all companies registered there are with concealed ownership, meaning that we can't tell who these people are. Needless to say, there is a lack of transparency, which is a major red flag, regardless of all the other problems.

For investments, transparency is essential since you should know who is managing your money and where it actually is. Legitimate businesses always operate in a transparent manner, and they are required by law to disclose their headquarter address, phone numbers, and all legal documents that detail the provisions of the service. And our experience tells that if you can't reach these people over the phone number provided, can't verify the locations, or can't confirm in any other way that the investment provider is authorized to sell financial goods, then that's most likely a fraud. So, regardless of the warning issued, we can guess there is something wrong with the investment scheme in question.

Quotex.market Website Info

Alexa Ranking58,285 at the time of writing
IP34.149.35.189
Server Country USA
WHOIS Reg. DateN/A
RegistrarN/A
SSL certificateValid
OwnerWithheld for Privacy Purposes
AdministratorWithheld for Privacy Purposes

Is Quotex.market Safe?

Quotex.market is not safe! It's an exposed scam, so make sure to avoid it, or you'll lose money to fraud if you deposit there!

Scam Warning

For various reasons, dealing with unregulated investment platforms is always a terrible idea. Above all, the lack of regulation strongly signals that something fishy is going on there, as only licensed companies can provide investment services. As you might expect, scams can't thrive in a robust regulatory environment, so consider twice before depositing with unlicensed investment providers.

A scam or a fraud is any crooked scheme devised to defraud you out of money or steal your personal information, and every scam setting is practically unregulated. Scammers work with hackers, too, and often buy bulky packages of information, including phone numbers, e-mails, social media profiles and other personal details of customers, which greatly facilitate scams. So, if someone contacts you out of a sudden, you'd better always consider the possibility that it could be a scam.

Scammers target many people and constantly evolve their approach making scams harder to recognise. In particular, the crypto scam is now booming for two particular reasons- lack of knowledge and popularity. There is a third one, too- scammers take advantage of the less regulated environment to lure people into crooked scam settings that have nothing to do with crypto at all. In any case, it's getting harder to spot potential fraud, but warnings issued by regulators help to raise awareness, and you'd be much better off if you always research thoroughly before any investments have occurred. Markets are plagued by scammers, and it's for real.

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1 Comment

  1. John K. Willliams

    Why didn’t you search for “QUOTEX SCAM CONSOB.IT” before you went to Quotex or any other trading platform? Consob.it reported Quotex 5 months ago but your claim was posted yesterday.

    How exactly did you lose your money? It’s not stated in your claim. Did you lose your money in trading? Did you attempt to withdraw your money and were denied?

    Did you use a VPN instead of the IP address given to you by your ISP? Any platform can see your IP at the time of login and may decide to close your account if you’re not using your genuine IP address.

    Did you make the mistake of taking their “BONUS” offers? It’s common knowledge you’re not supposed to take any offers on any platform.

    I’m genuinely curious why you posted your claim as it may help others, so be a good chap and provide screenshots of your own experience to prove it. Thank you.

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