QZ Fx Mine is an online Contract for Difference (CFD) broker established on March 26, 2024. Although its official website claims the company's history dates back to 2006, domain registration information indicates that the platform was actually founded in 2024.
Company Background and Establishment
The official platform introduction states that the company was established in 2006, with over 15 years of industry experience. However, according to publicly available domain registration information, qzfxmine.com was registered on March 26, 2023, and was acquired by the current team on March 26, 2024, for use as the official website.
Additionally, the platform claims that its operating entity is QZ Fx Mine Pty Ltd, with an office located in Mauritius.
Trading Instruments
The platform claims to offer a wide range of trading instruments, including CFDs on Forex, stocks, indices, precious metals, commodities, and cryptocurrencies. Official promotions mention over 350 tradable instruments.
Trading Software and Client Support
QZ Fx Mine claims to support the MT4 and MT5 trading platforms, available for mobile and web use. However, verification by the TraderKnows team revealed that the company's server does not appear in the MT4 or MT5 server lists, raising significant doubts about the platform's authenticity.
Educational Resources
The official website offers a variety of educational resources, including introductions to Forex, trading psychology, market strategies, and MetaTrader video tutorials. Although these resources seem comprehensive, the quality of the content cannot be guaranteed.
Regulatory Information
The platform claims on its website that its operating entity is registered in Mauritius (Company number 170969) and is regulated by the Financial Services Commission (FSC) of Mauritius (License number GB19024896).
However, upon verification, its registration number and regulatory license actually belong to another well-known broker, GO Markets Pty Ltd. QZ Fx Mine is suspected of misusing GO Markets' regulatory information and lacks genuine regulatory credentials, attempting to mislead investors with false information.
Account Types and Trading Conditions
The platform offers two types of accounts: GO Plus+ Account and Standard Account.
- GO Plus+ Account: Spreads start from 0.0 pips, with a commission of 3 AUD per side.
- Standard Account: Spreads start from 1 pip without trading commissions.
Additionally, the platform claims to support leverage of up to 1:500. However, due to a lack of user reviews, the authenticity of these trading conditions remains to be further validated.
Deposit/Withdrawal Methods
QZ Fx Mine supports deposit and withdrawal methods including Mastercard, Visa, Skrill, Neteller, bank transfer, and Fasapay. However, no user reviews regarding its deposit and withdrawal services have been found, making it impossible for investors to confirm the safety of their funds.
Social Media and Contact Information
Although the official website displays social media links, actual investigations found that the platform does not have any social media accounts. Moreover, contact information is limited to two email addresses and an online form on the website, which is unusual for an operating broker.
Website Traffic and Brand Exposure
According to Semrush data, QZ Fx Mine's monthly average traffic is less than 100, with almost no usage. Additionally, no news or events related to the company can be found in the public network. This further raises concerns about the platform's authenticity.
Website Template and Associated Platforms
The platform's website design template is identical to those of several other scam platforms such as Crypto Classic Markets, Trust Worthy Traders, Prime Derivative Exchange, etc. Such mass-produced templates are often used in fraudulent activities.
User Reviews and Staff
No user reviews related to QZ Fx Mine have been found online, nor any information about staff associated with the enterprise. This lack of transparency contrasts sharply with the operation of legitimate brokers.
Risk Report
In summary, the platform poses multiple significant risks, including but not limited to the following aspects:
- False Establishment Information: The company's history is falsified to enhance credibility.
- No Regulatory Credentials: Misappropriation of regulatory information from other brokers, essentially an unregulated platform.
- Low Website Traffic: Monthly visits are less than 100, lacking a user base.
- Fabricated Trading Conditions: Information cannot be found in MT4/MT5 servers.
- No User Reviews: No online feedback about the platform.
- Strong Scam Suspicion: Uses identical templates to several scam companies.
Conclusion
QZ Fx Mine is a newly established shell company with no credibility. Its false establishment information, forged regulatory credentials, and abnormal operation strongly suggest a high potential for fraudulent activities. Investors are advised to stay away from this platform to avoid possible financial losses.
