Quivax Markets is a forex broker registered in Saint Lucia on June 28, 2023, mainly providing forex trading services to investors, with its headquarters located in Cumilla City, Bangladesh. The broker does not offer services in jurisdictions that may violate local laws or regulations, such as the Central African Republic, Democratic Republic of the Congo, Eritrea, Guinea-Bissau, Iran, Iraq, Lebanon, Libya, Mali, North Korea, Singapore, Somalia, South Sudan, Sudan, the United States, and Yemen.
Corporate Registration Information and Regulatory Status:
According to the public information on the official website of Quivax Markets, the entity registered in Saint Lucia is Quivax Markets Limited, with the registered address at Fortgate Offshore Investment and Legal Services Ltd. Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia, with the registration number 2023-00110, and its work address located at Burichang Office Road, Post Office: Burichang, Upzilla: Burichang, District: Cumilla, Bangladesh. The broker's official website has not disclosed any regulatory information it is subject to.
Upon verification, an entity named Quivax Markets Limited with the registration number 2023-00266 can be found in the International Business Companies and International Trust Registry (IFC) of Saint Lucia. However, this entity is not found in the Financial Services Regulatory Authority (FSRA) of Saint Lucia, and it has not been found in the official financial regulatory authorities of other jurisdictions either.
Based on information obtained from Whois, the domain name of this broker's official website was registered on June 22, 2022. Moreover, as of January 23, 2024, the broker has been established for less than a year.
Account Opening:
During the actual account opening process on the broker's official website, clicking on "Account Opening" in the upper right corner enters the account registration interface. However, clicking on the Account Application leads to no response, making it impossible to proceed with opening an account normally.
Account Types:
Quivax Markets offers trading accounts with an initial minimum deposit of $50,000, a minimum trade size of 0.1 lots, and a trading leverage of 1:20. The broker's official website has not disclosed information about the types of accounts provided to users, nor details about spreads, trading leverage, trading commissions, maximum trade volume, maximum position amount, margin call levels, and stop-out levels.
Trading Platform:
The official website of the broker claims to offer the MT5 trading platform to its users. However, upon verification, it was found that the MT5 platform does not list a broker named Quivax Markets. Further investigation through the broker's official website domain name on the MT5 platform revealed that it only allows connection to existing trading accounts, and does not support the creation of new demo or real trading accounts.
Deposits and Withdrawals:
Quivax Markets has not clearly published on its official website the supported methods for deposits and withdrawals, the fees involved, or the minimum deposit and withdrawal amounts.
Summary:
Traderknows reminds investors that Quivax Markets is a forex broker without effective regulation and its official website does not support normal account opening. Traderknows advises investors to prefer brokers who are transparent, strongly regulated, and have a good reputation for investment trading activities, to avoid unnecessary loss of assets.
Currently, this broker is marked as 'suspected of fraud' on Traderknows.
