WorldQuest FX Scam: A Fraudulent Broker to Avoid
WorldQuest FX appears to be a legitimate trading site providing Forex, Indices, Commodities, and Stocks services. Upon closer observation, though, it is evident that this broker does not possess the transparency, credibility, and regulation it needs to qualify as legitimate. Complaints from users, withdrawal problems, and deceiving methods make it doubtful whether this platform can be trusted. In this review, we reveal the warning signs of WorldQuest FX and why investors need to avoid this broker.
Website – https://worldquestfx.com/
Address-2A/5, Sadowa Street, 50-046, Wroclaw, Poland
Regulatory Warning-NA
Domain Blacklisted Status - It seems there is no direct mention of this domain being on a blacklist.
Regulation and Transparency
One of the most significant warning signs for WorldQuest FX is that it seems to have no regulatory status at all. Any serious financial broker is registered and regulated by a recognized authority in the country in which it has its headquarters. Sadly, our investigation found no evidence that WorldQuest FX is registered with any financial regulatory body. The company claims to be owned by World Quest LLC, an organization registered in Ukraine, but without any demonstration of a financial license, which is greatly questionable.
If it is not regulated well, customers are helpless since there are no legal safeguards against their investments in case fraud takes place. This means that if WorldQuest FX decides to freeze money, investors have no legal recourse.
Negative Reviews
WorldQuest FX customer feedback presents a sad picture of how it treats its customers.
- Profits Are Reversed: Some customers complain that as soon as they make a profit, they are improperly accused of manipulation, and their profits are reversed.
- ID Verification Delays: Several clients have grumbled about the verification process at WorldQuest FX. Complaints point to the website slowly delaying verification by sending submitted papers back multiple times with cryptic explanations. A trader outlined the way that he sent several different documents only to be told that they were “poor quality.” After weeks of this, the broker finally informed him that, due to EU policy, he couldn’t trade. This was only found after wasting a lot of time and resources, and concern exists that the company might have been delaying withdrawals or discouraging prospects from accessing their funds.
FAQs
1. Is WorldQuest FX regulated?
No, WorldQuest FX never makes any authentic regulatory information public, and hence, it is a rogue and insecure broker.
2. Can I withdraw my money from WorldQuest FX?
Different users have stated that they’ve had a hard time withdrawing their money, with some of them receiving only one-third of their requested money.
3. Why does WorldQuest FX reject ID verification?
The broker appears to use ID verification as a delaying tactic, rejecting documents under general reasons to refuse users access to their funds.
About Report Scam – Your Partner in Fund Recovery
If you’re a victim of WorldQuest FX, Report Scam can help. Report Scam is an expert in assisting victims of bogus brokers, taking them through the recovery of the funds process. If you have been defrauded, act immediately and reach us for proficient consultancy.
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