Is QuestFXOptions company a scam?

By Alba Chaparro, from United States, February 6, 2021 at 01:44 AM

Is this company a scam? I received this email from the company: From: You’ve been required to pay ($2,485 ) to clear your ITF (international tax fee) for a successful withdrawal and to authenticate your legal income which will certify you as an EU TRADER. Kindly be aware that this payment needs to be made to the company’s wallet address within the given time….(48hours) from your deposited option in your trading account. NOTE: The Payment is a one time process, and further withdrawals do not request any charges after this payment. Thank you for cooperation Questfxoptions and management.

Answer: Hi Alba Chaparro,

While searching for more information about QuestFXOptions broker we have found several red flags that point out unregulated nature of this broker. QuestFXOptions is a Forex, Binary Options and Crypto broker. First of all, Binary options trading is forbidden in the US. Secondly, as per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders and, of course, QuestFXOptions is NOT regulated by any reputable regulator. Also, the broker claims to be a registered company from UK company house registration number 4093922. However, Companies House is only the United Kingdom’s registrar of companies, it is not the regulator that approves licenses for the brokers in the UK. And, of course, there is no information about this broker in the UK’s FCA register.

With all these facts, it is clear that QuestFXOptions cannot be trusted. Unfortunately, there is no guarantee you will be able to withdraw your funds, but we recommend you NOT to pay those fees they are asking and report about this broker to your local regulatory institution.

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